I am extremely proud at the same time humbled to present the Annual Report of YashChemex Limited BSE SME Listed Company as the Managing Director. When we look at YashChemex today we can see that it has been a year of great transition for the Company.Despite of transitions the Company has marked a new milestone growth by listing on the SMEPlatform of BSE Limited and moreover achieving the turnover of around Rs. 8526.93 Lakhs inF.Y. 2016-17.
Our Total Revenues for the year were Rs. 7870.33 Lakhs compared to Rs. 7198.25 Lakhs inthe previous year an increase of 9.34 percent. Our Gross Profit for the year was Rs.156.24 Lakhs compared to Rs. 116.11 Lakhs in the previous year an increase of 34.56percent. Our Net Profit for the year was Rs. 62.26 Lakhs compared to Rs. 28.20 Lakhs inthe previous year an increase of 120.76 percent.
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 morecompetitive after introduction of GST.
Our Company having godown in Vapi and doing business from there looking opportunityavailable in Ankleshwar therefore in process of opening depot at such place. Further focusis on the strict monitoring of the stock and to procure chemical in minimum lead time. Itwill minimize the buffer stocks. In order to reduce marketing cost we are distributing thesame through depot nearest to / Company/consumers/Industries. This will bring down thetransportation and handling cost. To meet out the market competitiveness and improve thefinancial performance the company is committed to reduce the cost upgrade the efficiencyand ensure optimum utilization of the current as well as fixed assets of the company. Ourcompanys promoters are in the process of providing better distribution facility inthe Vatva. Under the Made-ups Division company is growing and progressing very well inthis segment in both Global and Domestic Markets. Your company also gearing up &increasing the efficiencies & capacities to cater the market demand in domesticmarket.
Our Company proposed to generate the fund by investing fund of the company in chemicalindustries Opportunity in Chemical Industry by doing so provide handsome return to theshareholders. For that necessary resolution was passed. Our Company also is in the processof promoting the other Chemical Companies for SME IPO.
I would to like to place on record my sincere appreciation to the Board of Directorsfor their valuable guidance support and prudent counsel. I and my colleagues on the boardplace our appreciation for support and guidance received from government SEBI StockExchange and other regulatory authorities various financial institution banks andcorrespondents in India.
Before I conclude I would like to thank all of you for your presence and faith in theCompany.
With best wishes