In an interview to CNBC-TV18, Hussein Rayani, Joint Managing Director of Panama Petrochem spoke about latest happenings in the company and the sector.
“We are very upbeat about goods and services tax (GST). It isn’t only about ease of doing business but also about way of doing business,” he said.
GST is one of the most important and significant reforms in the Indian economic system. He anticipates a positive and favourable impact of GST implementation on the company.
The company caters to a wide spectrum of industrial segments like ink, coating, rubber, textiles, cosmetics and pharmaceuticals industry.
Ink segment contributes about 20 percent of the sales and Panama Petrochem supplies to all the multinational companies like Flint Ink, Toyo Ink etc.
He expects the margins to stay healthy above 10 percent. The company has plans for capacity expansion at Taloja and Ankleshwar plant to the tune of 30,000 tonne through internal accruals.
“We anticipate 20 percent growth in the revenue,” he added.
For full interview, watch accompanying video...
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