Chairman’s Message
Dear Stakeholders,

We are pleased to share our Fiftieth Annual Report for Fiscal Year (FY) 2020-21. On the back of marked success and excellence, we have achieved a milestone of 50 years supporting the Indian chemical industry. Our journey has been transformational from a small company in Vadodara with a handful of products and employees into an emerging conglomerate with over 4,700 employees and a comprehensive product portfolio catering to multiple industries globally. Having said that, our focus on import substitution throughout this period remains unaltered and we are proud to serve the nation. This in true sense is the fulfilment of ‘Atmanirbhar Bharat’.

I am glad we are on the right course with the support and guidance of all our stakeholders, investors, and employees. This Golden Jubilee Year could not have been better as it provided us a platform to demonstrate our capabilities and buoyancy amidst unprecedented challenges. We lived to our reputation and converted it into a landmark year, delivering strong operating efficiency which resulted in increased productivity and profitability. Alongside, we undertook calibrated expansion initiatives to set the foundation for future growth.

OUTLOOK ON THE WORLDWIDE ECONOMY

FY 2020-21 was largely dominated by the pandemic that hit economies globally. However, the vaccine rollout along with a reduced case load has spurred optimism of the pandemic’s end and a rebound in global economy. Accommodative policies by major economies further improve the outlook.

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