Chairman
Dear Shareholders,
Our performance during the Financial Year 2012-13 may not be encouraging, but all this
happened in the backdrop of challenging market conditions. We are pleased to report a
healthy Sales figure of Rs 136.26 Crores. The Caustic Soda production and Wind Power
generation also zoomed significantly. Now begins the crucial lap ofthejourney which is
expected us to take to newer orbits of green growth.
Market scenario
From quite some time the Indian economy had consistently been an area of concern.
Economic growth on an overall basis plunged to 9 years of lowest records, setting-off
heated debates and arguments among policy makers and business leaders for the way ahead. A
deeper look on this grim situation, gives us the exact realistic idea for such a dismal
economic situation. Sluggish investments, policy inertia, persistent inflation, growing
fiscal deficit, weakening rupee, global volatilities and so on. As a result, businesses
are finding hard to assess and mitigate risks, realize their true potential and create
value for stakeholders.
Outlook for the Financial Year 2013-14 for the Indian economy seems to be cautiously
optimistic. The recent moderation in global commodity prices is expected to augur well for
both inflation and CAD. Additionally, the governments continued commitment towards fiscal
and administrative reforms, alongwith expeditious execution, are bound to improve further
growth prospects. All this is expected to usher a sustainable turnaround for the Indian
economy in the Financial Year 2013-14.
Performance overview
The performance made by the Company had not really been encouraging and appealing. In
the backdrop of a challenging market scenario, we tried hard to give something positive
and the result had been with a growth in our Sales figure but the dampening part was our
Profit which was on the lower side due to rising power tariff as well as the finance cost.
We are defeating expected and unexpected changes affecting our business operations, by
implementing stable strategies and embracing agility. We thus continue to be one of the
leading producers of Chlor-Alkali Chemicals in Eastern India.
To tide over the challenges the Company is trying to achieve cent-percent capacity
utilisation, alongwith controlling costs through new techniques, growing market share by
moving ahead into newer domestic geographies. The Company is also evaluating the
feasibility of adding new by-products of Chlorine for value addition and also ensuring the
expansion of the plant in near future.
Sound Corporate Governance
We are committed to high standards in corporate governance and aim to implement best
practices beyond compliance requirements.
Our Board currently comprises of eight directors, including a majority of independent
directors with varied expertise. The Company has also adopted various measures for a
cordial working relation between the workers and the management. Workshops are being
organized on a regular basis to impart training to the Company's personnel and also to
make them aware of the developments in the Industry.
Corporate Social Responsibility
As a socially responsible citizen, we have made significant steps to uplift the morale
of the communities in the vicinity of our plant. Our effort involves a free homeopathy
clinic, "Jayshree Chemicals School" maintained by the Company, various greening
activities around the plant as well as donation of books and clothes in association with
the "Anand Ladies Club".
Safety is also accorded the utmost priority at our Company. Through our continuous
effort and dedication, the year didn't report a "single" accident.
Way forward
I am grateful to the management team for their wise counsel and enthusiastic
participation in ourjourney. Thanks to all members of the Jayshree Chemicals Limited
family for their heart-warming encouragement and support.
We are fully geared for a sustainable green growth in the years to come.
Best wishes,
SK Bangur