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Fineotex Chemical Ltd.

BSE: 533333 | NSE: FCL | Series: NA | ISIN: INE045J01026 | SECTOR: Chemicals

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Annual Report

For Year :
2018 2016 2014 2011

Chairman's Speech

Dear Shareholder,

“The achievements of an organization are the results of the combined efforts of each individual.” -VinceLombardi

It brings me immense happiness to see your Company''s performance during FY 2018 in spite of various challenges. I must acknowledge that the credit for your Company''s achievements goes to employees who demonstrated their competence and commitment.

In the years to come 2017-18 will be remembered as a pivotal year in the growth journey of Fineotex. A year that has helped us built a platform to take the company to level-next growth. We have consolidated our position as one of the faster growing Specialty Chemical Company in India, we also aspire to continue to emerge as a globally recognized one.

We have continued to remain a zero debt Company and the entire capital expenditure for improvements and addition of technology & equipment are being met from internal accruals.

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 Textile Processing Chemical Company in the country today having a wide range of textile chemical products for all the processes viz. Pretreatment, Dyeing, Printing and finishing.

As the Textile Industry evolves, we too have adapted to the changing consumer and industry needs. These changing dynamics make a strong case in point for Fineotex. Our philosophy of ''ready for the next phase'' is relevant in true context, as we strive to achieve ambitious targets.

I see very positive signs in the country, which augur well for our Industry and your Company. An upwardly mobile and young population is creating significant growth and demand for better products and infrastructure. The Marketing and Business teams have been strengthened and re-trained to handle the emerging challenges.

Over the past few years we have undertaken various initiatives resulting in better systems & policies, tighter execution and greater competitiveness. These are structural and internal changes that will strengthen us greatly over the medium and longterm.

In addition, we continue to make high-quality products, with a number of variants across all our 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.

The result of these operational achievements was visible during the consolidated year under review, as we registered 6.3% growth in revenues (as per IND As) to RS. 1429 millions (from RS. 1344 millions in previous year) and 1.7% growth in EBITDA to RS. 300 million (from RS. 295 million in previous year).

We continue to make sustained investments for our capacity expansion and keep a comfortable debt profile. Our financial achievements and health underpin our long-term vision and strategies.

Our people and our customers 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. We also place higher emphasis on the needs of our customers who reciprocate our efforts for united gains.

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 endeavorto 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.

Fineotex 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.

Surendrakumar Tibrewala

(Chairman & Managing Director)