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Bodal Chemicals Chairman's Speech > Engineering - Heavy > Chairman's Speech from Bodal Chemicals - BSE: 524370, NSE: BODALCHEM
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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 '17

Dear Shareholders

In the years to come 2016-17 will be remembered as a pivotal year in the growth journey of Bodal. A year that has helped us built a platform to take the company to level-next growth. while we have consolidated our position as one of the faster growing dyestuff companies in india, we now aspire to emerge as a globally recognized one.

Among our many laurels, one of the key aspects that separate us from our peers is our integrated business model. we are the most integrated dyestuff company in the country today from bulk chemicals and dye intermediates to dyestuff, with bulk chemicals and dye intermediates being produced inhouse for captive use as well as for direct sales. we started with dye intermediates, graduating to a backward and forward integrated business model with our ever-widening product portfolio.

As the dyestuff industry evolves, we too have adapted to the changing consumer and industry needs. with stringent effluent treatment norms in place, we proactively invested RS.400 million to set up the country’s largest ETP plant in our dyes and Dye intermediates industry space. Our eco-friendly business model has further strengthened our long-term business with global MNcs, making us a preferred supplier on a global platform. As other countries are regulating their dyestuff industry with mandatory norms for waste treatment, it eliminates their domestic companies’ ability to dump the goods to global companies. This level-playing field of competitive pricing only adds to our advantage to expand our market share globally with quality conscious products and solutions.

These changing dynamics make a strong case in point for Bodal. Our philosophy of ‘ready for the next phase’ is relevant in true context, as we strive to achieve ambitious targets. Our acquisition of SPS Processors with a 70% stake has helped us expand our dye intermediates capacity up to 7200 TPA. An equity buy-out, this acquisition also helps us expand our presence in domestic market. sps’ locational advantage in the north at crossroads of four states, strengthens our competitive position expanding the foundation for future success.

Our joint venture with Trion is yet another strategic investment to expand our product portfolio. With specialty chemicals gaining prominence, this venture further enriches our presence in dyes and chemicals industry Our plant at Khambat, Gujarat has an annual capacity of 12000MT for TccA has started a new line of business at group level.

In addition, we continue to make high-quality products, with a number of variants across our three business divisions. we have invested in new plant and technologies, to better our quality benchmarks, produce more efficiently and further reduce the impact on environment. Our captive power and steam generation adds to our cost competitiveness, adding to our margin growth. The result of these operational achievements was visible during the consolidated year under review, as we registered 35% growth in revenues to RS.12431.27 million (from RS.9218.66 million in previous year), EBiTDA to RS.2374.77 million (from RS.1685.15 million in previous year) (with EBiTDA margins of 19.2% and 18.5% respectively), and grew profit after tax by 49.5% to RS.1285.84 million (against RS.859.87 Million in previous year). we continue to make sustained investments for our capacity expansion and keep a comfortable debt profile. Our debt-equity ratio for the year was low at 0.42, with a healthy interest coverage ratio of 24. Our financial achievements and health underpin our long-term vision and strategies.

Our people form an integral part of our growth journey. We continue to engage actively with our employees, with training and motivation that helps them perform consistently to deliver greater efficiencies. We also put a strong focus on health and safety aspects, conducting proper training and mock drills to ensure that the team is vigilant and agile for any unforeseen circumstances.

While we march ahead towards our business goals, we also make conscious efforts towards making active contributions to society and 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 am thankful to the Board of Directors, for their continued support and guidance towards taking the company ahead. i would also like to place on record our appreciation towards our bankers, suppliers and customers for their continued trust in us, and building an enriching association.

Bodal Chemicals is an indian Company, serving customers in india and across the world. we are keenly promoting the ‘Make in india’ philosophy with our enriched product portfolio. we are determined to continue to grow in the ‘next phase’ of our corporate journey and emerge as an even stronger and customer-focused company, delivering performance that matters to all stakeholders.

Regards

Suresh J. Patel

Chief Executive Officer,

Chairman & Managing Director

Source : Dion Global Solutions Limited
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