At Himadri our mission reflects where we see our innovation engine creating growth andopportunity. We aim to set new standards in specialty chemicals with the use of leadingtechnologies and development of innovative solutions. The positive economic prospectsaugurs well for the Company's growth model.
Bankey Lal Choudhary
Setting benchmarks in the specialty
On behalf of the Board of Directors I would first like to express my sincerestgratitude to all our shareholders and the wider community for your interest and continuedsupport. I would like to take this opportunity to present to you my viewpoints on themacro-factors and our positioning in the speciality chemical space.
India has emerged as one of the fastest-growing economies in recent times. Bypassingthe risk of slowdown post-demonetisation the Indian economy is estimated to grow at 7.1%in fiscal 2016-17. The economy is expected to embark on higher growth trajectory goingahead. This will largely be driven by the proactive measures taken by the governmentimprovement in consumption timely rains higher public sector spending exportsincreased government spending in infrastructure and private investments among others.
The central government has made efforts to strengthen the country's economy bypromoting 'Minimum Government Maximum Governance'. In this regard they have alsoannounced numerous initiatives aimed at stimulating growth and reducing red tape. The'Make in India' initiative is one of the central government's most ambitious programmewhereby they aim to create 100 million new jobs in India by 2022. Other schemes launchedby the government are expected to trigger investment and employment opportunities for themanufacturing units set up under the 'Make in India' programme.
For nearly a decade India has stood on the cusp of implementing a GST regime. It isonly now with a political consensus in place that this ambition is finally seeing thelight of the day. It is expected to simplify the process of business in India. There willbe greater transparency within the system as all other indirect taxes levied by theGovernment will be replaced by GST. Gearing up for the change in process andunderstanding the new legislation and being fully GST-compliant is the need of the hour.We are confident that the roll out of GST will further strengthen the economy.
At Himadri our innovation engine creates growth and opportunity. We aim to set newstandards in specialty chemicals with the use of leading technologies and development ofinnovative solutions. The positive economic prospects augurs well for the Company's growthmodel. We are foreseeing a sharp increase in demand from our key user segments. This willdrive our volumes leading to capacity utilisations. At the same time we are alsofocusing to strengthen our share of value- added speciality products which will furtherdrive our margins.
When a company grows its business while caring for the environment and sharing with thesociety it is actually making its own journey sustainable.
In our social interactions we focus in particular on challenges such as educationskills development and environmental sustainability. Our aim is to improve the livingconditions of our employees their families and the communities in which we operateultimately balancing profit people and planet.
At the end I would like to thank my fellow board members for their highly-valuedguidance and support during another successful year. Our board appreciates the commitmentof our top executives our management teams and our employees in India and around theworld. We appreciate their enthusiasm and enterprise. With the dedication and sustainedsupport of all our stakeholders we will continue to make considerable progress indeepening reform across all parts of our business.
|Best Wishes |
|Bankey Lal Choudhary |
|Managing Director |