Dear Shareholders,
On behalf of the Board of Directors of Shree Hari Chemicals Export Limited, I am glad
to present the 37th Annual Report of your Company for the financial year ended 31st March,
2024.
The demand for chemicals will continue to rise as the global population grows and
urbanizes. Chemicals are used in almost every aspect of modern life, from construction to
transportation to healthcare, making this industry an essential part of the global
economy. The chemical industry is constantly evolving, and new technologies are being
developed to increase efficiency, reduce waste, and improve safety. With increasing
pressure to reduce the environmental impact of industrial processes, there is a growing
focus on sustainable practices in the chemical industry.
I am pleased to throw light on the Company’s success in the financial year. During
the year, the revenue from operations were Rs. 13832.64 Lakhs as against Rs. 10272.83
Lakhs during the corresponding previous year resulting in a profit of Rs. 234.50 Lakhs as
against loss of Rs. 1960.94 Lakhs for the previous year.
I would also like to inform that the Company has incorporated a wholly-owned subsidiary
named ‘Shakambhari Dyechem Private Limited’ for expansion of product line. Also,
to meet the funding requirements of the Company, it is proposed to issue Compulsorily
Convertible Debentures (‘CCDs)’ on preferential basis. We have also successfully
set-up solar power plants that helps save the cost to the Company.
The Indian chemical industry has a bright future since key players have concentrated on
increasing capacity and expanding their reach into new and growing markets. Our 2024-25,
outlook is to explore the trends that can help organization turn risks into advantages and
capture growth.
I express my sincere gratitude to our stakeholders, including shareholders and
investors, for their unwavering support. Our dedicated employees play an important role in
challenging business conditions, which has enabled the Company to continue grow stronger.
To conclude, I thank everyone for being part of our Company’s prosperous journey.
We are grateful to our esteemed customers for their trust and patronage.
Warm Regards,
Bankesh Chandra Agrawal
Chairman and Managing Director