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Shree Hari Chemicals Export Ltd.

BSE: 524336 Sector: Industrials
NSE: N.A. ISIN Code: INE065E01017
BSE 13:37 | 25 May 61.90 -0.05
(-0.08%)
OPEN

68.40

HIGH

68.40

LOW

61.90

NSE 05:30 | 01 Jan Shree Hari Chemicals Export Ltd
OPEN 68.40
PREVIOUS CLOSE 61.95
VOLUME 715
52-Week high 84.05
52-Week low 54.25
P/E 6.06
Mkt Cap.(Rs cr) 28
Buy Price 61.60
Buy Qty 50.00
Sell Price 62.10
Sell Qty 17.00
OPEN 68.40
CLOSE 61.95
VOLUME 715
52-Week high 84.05
52-Week low 54.25
P/E 6.06
Mkt Cap.(Rs cr) 28
Buy Price 61.60
Buy Qty 50.00
Sell Price 62.10
Sell Qty 17.00

Shree Hari Chemicals Export Ltd. (SHHARICHEM) - Chairman Speech

Company chairman speech

Dear Shareholders

Before beginning our message we would like to sincerely thank all our stakeholders fortheir continued support through the last 30 years. We hope you and your dear ones are safeand wish you all good health going ahead.

It gives me a sense of sheer fulfilment and satisfaction to share that our Companycontinued playing on its strengths and posted a decent performance despite a challengingenvironment. We continued our journey as leading dyes intermediate manufacturers and keptfocusing on strengthening our business capabilities and growing sustainably.

PERFORMANCE SNAPSHOT

Our financial performance reflected the challenging market conditions. The revenue forthe year was Rs 5616 Lakhs as compared to Rs 5710 Lakhs in FY 2019-20 EBITDA Rs 285Lakhs against Rs 24 Lakhs in FY 2019-20 and PAT Rs 84 Lakhs compared to a loss of Rs 160Lakhs in previous Financial Year.

TECHNOLOGY AND INNOVATIONS

The excellence of our products and solutions in terms of quality and uses is an outcomeof our constant R&D and innovation. It is a result of our determination and convictionthat has allowed us to adapt quickly to the market needs. Besides our in-house technologyadvancement and process development capabilities have allowed us to build a diversifiedproduct portfolio in dyes intermediate. Over the years these products have been findingin various applications. Besides

we have also consistently delivered need-based solutions to constantly cater to thevaried client needs.

MAKE IN INDIA: EYEING SUSTAINABLE GROWTH

The past year instrumented a change in business operations to be in sync with theunprecedented changes in attitude of people and society. We at SHCEL constantly striveto improve it with our sincere efforts. As we look ahead we continue to see immensepotential across our business sector. Healthy demand and a stabilised raw materialenvironment should further enable us to gain traction and build momentum. The pandemicadditionally led to China plus one strategy. Companies across the world are facingshortages which is leading them to find an alternative. With the right prospects costadvantage and suitable manufacturing conditions India is becoming the most preferableand above all most desired location for outsourcing chemicals used for variousapplications across industries. Being a leading player in the organised space we stand toimmensely gain from the underlying opportunity. The overhaul in the consequent supplychain will give us immense opportunity to expand our export operations in times to come.

The world's exposure to Covid-19 has sparked a sense of adoption of sustainable meansin business processes as health and well- being has taken a new priority in our lives. Weensured that all the health and safety protocols were followed at the plant level to keepour staff safe. On the business front our business strategies expansion planscapacities and capabilities sustainable mindset and strong innovation capability made usresponsive to the need of the hour.

OPTIMISATION AND SUSTAINABLE EXPANSION

In one of the key developments during the last quarter of FY 2020-21 we have initiatedinitial phase of installing 2 Mw solar power plant for our state-of-the-art Greenfieldmanufacturing facility at Mahad. At SHCEL conserving energy and prudent utilisation ofresources is of strategic importance. With solar plant installation the Company intends tobring down nonrenewable energy consumption and at the same time bring down electricitycost in production.

We witnessed normalisation in demand and consumption sentiments towards the end of Q42020-21. The Company

saw increase in sales from Rs. 216 Lakhs in Q1 to Rs. 3136 Lakhs in Q4 of FY 2020-21.We have witnessed a substantial ramp-up in utilisation levels from this facility in recentmonths leading to healthy volumes. In addition we are trying to enter newer categoriesas we broaden our product portfolio to achieve economies of scale and marketconsolidation.

However the second wave of COVID-19 has posed challenges yet again. But we believebroader vaccination coverage and limited lockdowns will help restore normalcy sooner. Weare confident of leading towards stronger and sustainable growth in the times to come.

CUSTOMER-FOCUS RESILIENCE AND AGILITY

Customer-centricity is what differentiates us. Despite the pandemic our people workedrelentlessly to serve our customers. Our products are formulated as per customer needs andwe focus on customising and providing value added products to our customers. Ourmanufacturing units worked round the clock to meet the growing demands of the market.Commitment competence and dedication of human capital play an essential role in scalingsustainable growth. When faced with challenges last year our team's customer focusresilience and agility helped us navigate the problems and emerge stronger. We thank ourentire workforce for their tremendous support and standing firm in our common goal ofstrengthening our capabilities to grow sustainably.

Going ahead we will continue directing our efforts towards tapping new customers andstrengthening relationships with existing ones. We strive to expand our reach bystrengthening our capabilities with focus on sustainable growth.

NOTE OF THANKS

We believe healthy corporate governance practices form an essential and critical pillarfor long term value creation. We reaffirm our commitment to sustainable growth andenhanced shared value for all. As we conclude I would like to thank the Board for theirguidance our employees and their efforts and all other stakeholders for their consistentassistance and encouragement in all our endeavours. We look forward to your continuedfaith as we scale heights of growth backed by confidence commitment and conviction.

Warm Regards
Bankesh chandra Agrawal
Chairman and Managing Director

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