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Jubilant Industries Chairman's Speech > Engineering - Heavy > Chairman's Speech from Jubilant Industries - BSE: 533320, NSE: JUBLINDS

Jubilant Industries

BSE: 533320|NSE: JUBLINDS|ISIN: INE645L01011|SECTOR: Miscellaneous
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VOLUME 3,249
Mar 16
Chairman's Speech (Jubilant Industries ) Year : Mar '18

D ear Shareholders,

I am happy to share my thoughts with you for the year FY 2017-18!

The first half of FY 2017-18 witnessed the implementation of the landmark Goods & Service Tax (GST). In addition, the economy witnessed a recovery from the impact of demonetisation, which had been announced in FY 2016-17. These two major structural changes are expected to provide immense benefits to the long-term growth trajectory of the country.

As per the International Monetary Fund (IMF), global growth is expected to rise to 3.9% this year, as global economic activity starts picking up through recovery in investments. IMF forecasts India’s growth is expected at 7.5% in FY 2018-19 which would make India the world’s fastest growing economy in FY 2018-19.

Agri Products

The Government is keen on doubling farmer’s income by FY 2021-22, for which it has approved the continuation of the Agri-umbrella programme, ‘Green Revolution — Krishonnati Yojana’ for two more years. The programme has merged II schemes for a holistic and scientific approach. This is a positive development for your company.

Performance Polymers:

Consumer Products Division continued to challenging market conditions through the year with the introduction of GST in FY 2017-18 in quick succession after the impact of demonitization in H2, FY 2016-17. Our focus is on improving demand generation through market initiatives, improvement in product mix and strengthening the distribution network.

In Food Polymers business, Chewing Gum industry struggled in FY 2017-18. However, we have successfully added new customers into our portfolio in FY 2017-18, which should help to deliver higher growth in FY 2018-19. In addition to new customer approvals for our products, the focus in food polymers business is to introduce new products and to stabilize the newly launched Ester Gum.

In VP Latex, we are witnessing positive growth in the tyre industry which bodes well for the business. Our focus is on new customers acquisition especially in the international markets and newer application development.

FY 2017-18 Financial Highlights

The Consolidated Revenue from operations (net of Excise Duty) of the company dropped by 7%, to reach Rs. 474 Crore in FY 2017-18, as compared to Rs. 508 Crore in FY 2016-17. Earnings before interest, taxes, exceptional items, depreciation and amortization (EBITDA) stands at Rs. 30 Crore in FY 2017-18.

After accounting for depreciation and amortization of Rs. 9 Crore, the Company’s PBIT stands at Rs. 21 Crore. After accounting for financial charges of Rs. 26 Crore, and PBT stands at Rs. (5) Crore and Profit/(Loss) after Tax at Rs. (5) Crore.

FY 2018-19 Outlook

We have strong belief in our people and we are confident in setting new standards. We will drive operational excellence to achieve even greater productivity and efficiency as we grow our business.

Agri Products is expected to deliver growth with higher capacity utilization and enhanced distribution reach. In our Performance Polymers segment, Consumer Products Division, our focus is on growing market share in premium category and adding new products through in house development and strategic partnerships to cover the product gap and increased efficiency. In Food Polymers business, our main focus remains on new customer acquisition and also increase foot print in the industrial space. In VP Latex business growth would be driven by improving our footprint geographically and across various segment .

I take this opportunity to thank all our employees, customers, vendors, bankers and shareholders for their continued support.

Best Wishes.

Priyavrat Bhartia


Date: May 10, 2018

Source : Dion Global Solutions Limited
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