Looking back at 2020 one can only describe it as challenging to saythe least. The loss of lives and livelihoods during the year has not been witnessed inliving memory for many of us.
Message from the Management
At Vinati Organics we knew we had to ensure business continuity tosustain the lives and livelihoods of those that are intrinsically associated with uswhile adhering to strict COVID-19 protocols.
Our performance for the year gone by demonstrates our ability to adaptto change our commitment and responsibility towards each and every stakeholder. Amidsttrying times we delivered robust results even when the
we remain confident about carrying forward our legacy of deliveringsuperior quality products that meet diverse customer requirements and fortify our positionas a trusted and preferred manufacturer of specialty chemicals.
economy witnessed a massive slowdown. We maintained our status asmarket leaders due to the resilient efforts of our team to consistently produce qualityproducts for clients all over the globe. As compared to FY20 in FY21 our Total Incomereduced from RS 1074 crores to RS 980 crores while our Net Profit decreased from RS 334crores to RS 269 crores.
In terms of our products ATBS our largest product had muted sales infirst half of 2020 but picked up in the latter half of the year. Our expansion of ATBS isalso completed which now takes our capacity to 40000 MT. With regards to ATBS we haveseen a very strong uptake in the last quarter due to the recovery of global economiesespecially in North America and Europe. IBB recorded its highest ever sales in FY2021 andcontinues to grow due to the consistent demand of Ibuprofen. We maintained our marketshare of 65% in both ATBS and IBB. We started India's largest Butyl Phenols plantabout a year back and currently we are seeing good demand for all the four Butyl Phenolsin the domestic and the export markets. Other products consisting of HPMTBE PTBBA/PTBMBIsobutylene etc. contributed about 25% to overall sales in FY21and we continue to seegrowth with our capex lined up and expected growth visible in domestic and export markets.
Our proposed merger with Veeral Additives Private Limited (VAPL) alignswell with our growth strategy through synergy. The global market demand for Antioxidants(AOs) is robust and the total capacity (post-merger) positions us to drive synergies andcreate value. One it adds to our vertical integration as the AOs use Butyl Phenols astheir key raw materials. Our Butyl Phenols is further backward integrated into IB.
The opportunity for growth in the chemical industry is significant asmany chemical units in China have shut down as a result of rising environmental concerns.The facilities at Vinati are capable of filling this vacuum to meet global requirements.We are bolstering our R&D investments to introduce new products.
We express our gratitude to our Board of Directors the managementteam and all our employees for their commitment and dedication to the organisationespecially during an unprecedented crisis. We are also grateful to our valuedshareholders customers and suppliers for their continued support.
Looking ahead we remain confident about carrying forward our legacy ofdelivering superior quality products that meet diverse customer requirements and fortifyour position as a trusted and preferred manufacturer of specialty chemicals. In theprocess we remain committed to fulfil our environmental obligations and aspire to be azero emission' entity building a greener better future for people as well ascommunities.