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Bodal Chemicals

BSE: 524370|NSE: BODALCHEM|ISIN: INE338D01028|SECTOR: Dyes & Pigments
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Chairman's Speech (Bodal Chemicals) Year : Mar '16

The global Dyestuff industry is at a critical juncture today. Recently, after a leading company in China was shut down owing to environmental concerns, the world''s focus shifted to the Indian manufacturers to fill the void created by the deficit in supply. This has presented a highly lucrative opportunity for Bodal Chemicals, which is well known as one of the leading Dyestuff manufacturers globally. Not only are we one of the lowest cost producers of Dyestuff owing to the level of integration in our manufacturing processes, but are also well acknowledged in the international market through the wide reach of our exports. With a sense of excitement and anticipation, we welcome this next level of growth.

Leaving aside the opportunity that lies ahead of us for a short while, I would like to share with all of you Bodal Chemicals'' operational and financial journey over the last few years and how that has contributed to further strengthening our core. The Company''s Total Consolidated Income during financial year 2016 stood at Rs. 9.099.6 million whilst the EBITDA stood at Rs. 1.617.6 million translating into margins of 17.8%. The EBITDA represents a growth of close to seven times in 3 years. Furthermore, the return on equity has risen to 36.7% from a negative return three years back. With a Net Debt / EBITDA of 0.8x and a Debt / Equity of 0.6x, we have much more financial flexibility today, also reflected in our credit ratings. It has taken both perseverance and passion to get to where we are today and we are not stopping yet.

Yet, it is one thing to be great at what you do but totally another to keep pushing the boundaries. This time last year I shared with you our venturing into Specialty Chemicals through Trion Chemicals. We have made significant progress on this initiative through the year and as promised, will be starting production in the second half of FY2017. During the latter part of the financial year, we also started commercial production of LABSA. The market feedback for the product has been absolutely encouraging sofa and it gives us great confidence to enhance production of the same. A third high margin product we look forward to increasing production of is Liquid Dyestuff which is used in the paper industry for coloring paper. I expect these high growth initiatives to collectively put Bodal Chemicals on a new growth trajectory.

We owe our successes to our employees, financial institutions, vendors, customers and shareholders. As we move on to a higher growth path, your continuing support and cooperation will be imperative. We strive to break new grounds and reach new heights, in our quest for excellence in business and innovation. In doing so, we will continue to create value for our stakeholders and make the workplace at Bodal Chemicals a much more fulfilling platform for all our employees.

Yours Sincerely

Suresh J. Patel

Chief Executive Officer,

Chairman and Managing Director

Source : Dion Global Solutions Limited
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