I Mitesh Gandhi Managing Director Of Mahickra Chemicals Limited feeling extremelyproud at the same time humbled to present the Annual Report of Mahickra Chemicals LimitedListed on NSE EMERGE PLATFORM. When we look at Mahickra Chemicals Limited Presently thenwe can see that it has been a year of great transition for the Company. Despite oftransitions the Company has marked a new milestone growth by listing on the SME PLATFORMOF NSE EMERGE and moreover achieving the turnover of around Rs. Eighty Crores inF.Y.2018-19.
Our Total Revenue for the year is Rs. 825212571/- Compared to Mahickra chemicalslimited from 13/11/2017 to 31/03/2018 Rs.199763159/- and 360120946/- of Mahak DyechemIndustries from 01/04/2017 to 12/11/2017 in the previous year and Total Sales 559884105/-an increase of 24.21% (percent).Our Gross Profit for the year is Rs. 29114461/- Comparedto Rs9391025/-. in the previous year an increase of 32.26%.
Introduction of a well-designed GST will be very beneficial for the chemical companiesin India as the external and internal cost and the complexity of managing the numerousindirect taxes will be reduced and sales prices will be more attractive compared toimports. Knowing that chemical products often are intermediates to other chemicals thiseffect is cumulative and therefore the Indian chemical industry will be significantly moreCompetatitive after introduction of GST.
I would like to place on record my sincere appreciation to the board of Directors fortheir valuable guidance and Support. I on behalf of the board placing Appreciation forthe Support and guidance received from Government SEBI Stock Exchange and otherregulatory authorities various financial institutions bank and Correspondents in India.We are fortunate and humbled by the response received for the Initial Public Offer (IPO)of the Shares of Mahickra Chemicals Limited Which was listed in the financial year2017-18 on 26th April 2018.
Before I Conclude I would like to thank all of you for your valuable presence andfaith in the Company as well as for showing Confidence and trust in managementcapabilities of Mahickra Chemicals limited.
With best wishes Yours Sincerely
Chairman & Managing director