I sincerely appreciate and express my heartfelt gratitude for your continued support in all our endeavors. The year that went by was special for more reasons than one. Hence, I take this opportunity to share my thoughts and viewpoints on the last financial year.
2017-18 was a year that saw your Company emerging even more successful than before. Our increased revenues and profitability speak volumes of the same. The main factor that proved to be favorable for us is our value-added propositions in the specialty carbon chemical space that contributed to this growth.
In the previous fiscal, India couldn''t take full advantage of the pick-up in global growth owing to transitory constraints from demonetization and glitches in the implementation of GST. However, with the passage of time, the impact of demonetization had waned out and GST issues started getting sorted. There was a marked improvement in investments and consumption which will further help India in retaining its position as the ''world''s fastest growing large economy''. The central government''s budgetary focus on rural housing and roads will transpire into building assets and creating jobs. Besides, the strong IIP numbers, revival in rural demand and increased infrastructure spending will continue driving the momentum.
The transformation is constant. Innovation allows us to keep reinventing ourselves to stay competitive.
The year went by was yet another validation of our distinctive passion and a reflection of our resolve to innovate. Since our inception, innovation has always been our top priority. Adaptation, revision and change
- these three principles form the crux of our business. Consistent growth and sustained value - creation are the fuel we thrive on. Our strong research and development forte has built our foundation and allowed us to make remarkable breakthrough.
We have constantly refined our integrated manufacturing processes to stay competitive in the specialty chemical space. Our strengths include the balanced spectrum of our business activities, end-product applications and working closely with key customers.
Going forward the Company foresees strong breakthroughs across its new core - advance carbon material and specialty black. Our recent expansion in this segment will increase our share of value-added products and further strengthen our profitability.
We feel it is important to recognize the passion in people and give them a freehand autonomous environment to support innovation. This results in enhanced pride amongst employees. It lets our employees challenge their own assumptions and build a culture of constant innovation.
As a responsible corporate citizen, we are committed through our various interventions in education, skills development and environmental sustainability. We continue to adhere to highest level of compliance and governance and have always advocated fairness and transparency in our organization. As we grow, we are adding a rich diversity and ensuring inclusiveness that makes us truly a global organization.
At the end I would like to take this opportunity to thank all our employees for their dedication and commitment.
I express my gratitude for the sound guidance and contribution of my fellow Directors as well as the Senior Management Team. As we continue to navigate our journey, let us together amplify our rich heritage, continue building a united approach, celebrate our diverse roots and be the leader to create value for all our Stakeholders.
Bankey Lal Choudhary