Letter to shareholders
It gives me immense pleasure to present the annual report for the financial year
2017-18.
Your company continues to tread on the path of transforming itself into a technology
driven company with focus on innovative & speciality products. The foundation of your
company now stands firmly on the platform of Research & Development and
Sustainability. We will keep on looking out for profitable growth avenues, which will
create long term value for the shareholders.
By contributing around 3% to India's GDP, the Indian Chemical Industry is one of the
most important contributors to the country's economic development. In terms of domestic
production and exports, the Indian chemical sector is ranked 3rd in Asia and 6th in the
world. However, due to uncertain rise of crude prices in the latter half of the year and
strengthening of dollars, Indian Chemical Industry faced too many challenges. Based on the
said uncertainties, our raw material LAB also went high from November onwards, but still,
your company managed to achieve desired results during such period.
Your company performed reasonably well in the year 2017-18. In line with the Country's
GDP growth in Q4 (7.7%), the company also accelerated and recorded highest revenue in the
last quarter. Further, the future outlook for the company as well as growth expectations
remains positive. Increasing per capita consumption of detergent, increasing health
awareness and improved environment scenario are expected to aid the growth going forward.
In conclusion, I would like to thank all our stakeholders for their support especially
during difficult times which only reinforced our commitment and our deep beliefs in our
values. We still have a long way to go, but the vision is clear. With the active support
of all stakeholders, this should mean a brighter tomorrow.
(Pawan Kumar Garg)
Chairman.