BSE LiveDec 08, 11:43
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NSE LiveDec 08, 11:43
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I am privileged to report that we have had a good year in terms of performance across parameters - our core business of dye intermediates continued to do well and our 30MW solar power project commissioned successfully. We also completed the amalgamation with Nipur Chemicals Limited which will be value accretive to us.
Overcoming various hiccups of demonetization and GST implementation, the Indian economy has continued to perform well. The corporate earnings are improving and managements are back in the boardroom discussing growth plans. The dyes and pigments industry has continued to do well on the back of strong demand from the end user industries.
While domestic demand is showing positive trend with growth in the textiles industry, the export demand is picking up as well. With the continuing shut downs in China due to the environmental concerns, the world''s focus has shifted to India to supply the deficit that the industry is facing. We, at Bhageria believe that we are well placed to grab this huge opportunity as we possess the competitive cost structures and also have wide reach of exports.
Our financial performance continues to improve. We ended the year with revenue of Rs 385 crores and EBITDA & EBITDA margins of Rs 91 crores and 23.7% respectively. Our PAT for FY18 stood at Rs 40crores with margin of 10.5%.The external credit rating of the company has further improved from the earlierBBB on long term scale andA3 on short term scale, toBBB andA2 respectively by CARE. The number of customers we are dealing with are growing and we are also strengthening our ties with them. We have started exporting to newer geographies and are expected to continue the same going forward. Our 30 MW solar power project is also fully operational now. Here we have a 25 year PPA with the Solar Energy Corporation of India (SECI). We are confident of achieving high returns from this project as the PPA is at attractive rates.
With the amalgamation of Nipur Chemicals Limited we have become more cost competitive and there is a scope of easier expansion in capacities if needed. The synergies created by the amalgamation would increase operational efficiency and integrated business functions.
Success of any business can be possible if its employees and peoples who put in persistent efforts to rise to their excellence level are taken together. I would like to reiterate that your company''s employees are its valuable assets and it is entirely due to their hard works, firmness, commitment and dedication that your company has been able to deliver sustainable growth and value creation.
While we march ahead towards our business goals, we also make conscious efforts towards making active contributions to society and environment. We are investing in adequate pollution control equipment''s as we believe in sustainable environment. Our regular contributions and initiatives towards uplifting several people in various aspects are our humble endeavor to make our world a better place.
I would like to assure you that your company will strive to capitalize by remaining focused on operational excellence and to remain committed to deliver strong growth and enhance''shareholders and other stakeholders'' values in every possible ways.
We expect to keep performing and delivering sustainable growth going forward with focus on profitability. I am thankful to the Board of Directors, for their continued support and guidance towards taking the Company ahead. We give the credit to our success to the employees, financial institutions, vendors, customers & shareholders.