BUSINESS OVERVIEW:
Our Company was incorporated as Mamta Dyes and Intermediaries Private Limited under the
provision of the Companies Act, 1956 vide certificate of incorporation dated July 27, 1994
issued by the Assistant Registrar of Companies, Gujarat, Dadra and Nagar Haveli.
Consequent upon the conversion of our Company to public limited company, the name of our
Company was changed to Mamta Dyes and Intermediaries Limited and fresh certificate of
incorporation dated February 20, 1997 was issued by the Registrar of Companies, Gujarat,
Dadra and Nagar Haveli. Subsequently, the name of our Company was changed to RRJ-Dyes and
Intermediates Limited vide fresh certificate of incorporation dated February 20, 1997 was
issued by the Registrar of Companies, Gujarat, Dadra and Nagar Haveli. Later on, the name
of the company was changed to Prolife Industries Limited and fresh certificate of
Incorporation dated March 7, 2013 pursuant to change of name was issued by Registrar of
Companies, Gujarat, Dadra and Nagar Haveli.
Our company is engaged in the business of manufacturing special and exclusive range of
intermediates for dyes, pigments, pharmaceuticals, agrochemicals and others. The company
originally founded in the year 1994 in the name of Mamta Dyes & Intermediates Private
Ltd and has been in this Industry from the very inception. Company has established even
its own Research & Development Department within few years of incorporation of the
company. It has already succeeded in developing very high-quality Specialty Chemicals as
result of thorough knowledge and R & D efforts of the Chairman and Managing Director
of the company who has sound knowledge as well as vast experience of two decades in the
chemical industry. The company has established its presence in domestic as well export
market and are regularly catering to the needs of their customers in many countries
including U.S.A, Spain, Switzerland, Germany, France, Taiwan, Japan, Germany, Brazil etc.
REVIEW OF BUSINESS:
During the year under review, the profit after tax for the year ended 31stMarch,
2023 is Rs. 6,91,31,709.61 against Rs. 4,30,19,346.59 in the previous year.
| Particulars |
Financial Year 2022- 23 |
Financial Year2021- 22 |
|
(Amount in Rs.) |
(Amount in Rs.) |
| Revenue from Operations |
78,31,35,106.00 |
73,20,33,599.73 |
| Profit Before Tax |
9,23,40,224.61 |
5,97,17,003.59 |
| Profit After Tax |
6,91,31,709.61 |
4,30,19,346.59 |
FUTURE PROJECTIONS:
The Company has formulated the sound business plan for the long-term growth to enhance
its presence in the domestic as well as global market. As per the said growth plan, the
Company has already started to manufacture some new products and also increased its
manufacturing and production base by adding additional manufacturing capacities. The
Company has already started the additional building, plant and machinery and other allied
facilities for the enhancement of the production facilities. The Company has started to
manufacture some more products. This will add value to the stakeholders of the company in
the longer period.
KEY FACTORS AFFECTING THE RESULTS OF OPERATION:
The Company‘s future results of operations could be affected potentially by the
following factors:
Political Stability of the Country. World Economy. Government policies for the capital
markets. Investment Flow in the country from the other countries. Government policy for
textile sector. Competition from existing players: Company‘s ability to successfully
implement our growth strategy
The loss of shutdown of operations of our Company at any time due to strike or
labourunrest or any other reasons, Loss due to delay in execution of projects in time
OUR COMPETITIVE STRENGTH:
i. Experienced management team and motivated employee
We have a highly experienced and qualified management team. Our Management is backed by
motivated staff that is instrumental in our business growth.
ii. Well-equipped Research and Development facility
We have well equipped research and Development facility to improve quality of the
products and to produce high performance chemicals. Company has in house sound R&D
Department backed by technical expertise of our management, which helps the company to
enhance our product range.
iii. Established vast Domestic as well as Export market
The company is catering the customers both in domestic market as well as overseas
market. The company is catering the needs of customers with its high quality customized
products as per the specific requirements of buyers located in U.S.A, Spain, U.K.,
Switzerland, Germany, Italy, Hong Kong, Japan, Brazil etc. The company is selling its
product to internationally renowned companies.
iv. Continuous Innovation of Products and diverse products
The management is of the opinion that in order to be successful and competitive in the
market, the company needs to be innovative. We offer special and exclusive range of
intermediates for dyes, pigments, pharmaceuticals agrochemicals and others. Such diverse
product mix helps us to cater the diverse customer segments and to various sectors of
Industry. The product mix helps us to sustain the growth level. Over the years we have
developed various products which is used by Pharmaceutical Industry, Chemical industry,
Packaging / FMCG Industry, agro-chemical industry.
v. Modern Infrastructure and Integrated Facilities
The unit is located in Panoli Industrial Estate, Tal. Ankleshwar, Dist Bharuch. The
Industrial estate is developed by GIDC and enjoys good infrastructure like electricity,
water, roads, labour, raw material suppliers and market for finished products which has a
vital demand in the market & with this scenario we are concentrating on expanding the
production capacity and new product range.
OUR BUSINESS STRATEGY:
i. Enhanced product range through emphasis on R&D
We intend to strengthen our Research and Development department to enhance the product
range and improve the quality of the products and achieve the cost reduction by utilizing
the improved method of production. In keeping with this philosophy, we will focus on
increasing our customer base of our products, give them a platform of choice to transact
and support them with quality research as well as on capturing the significant growth
opportunities across the spectrum.
ii. Broad basing our Overseas reach
The company is engaged in manufacture and development of various kinds of Dyes &
Intermediates. The main end product of the company is Naphthalene based Dyes &
Intermediates which are being sold to well-known multinational trading houses in various
countries like U.S.A, Spain, Switzerland, Germany, France, Taiwan, Japan, Germany, Brazil,
Pakistan etc. The company is manufacturing one exclusive product namely Violet Acid which
is in demand all over the world. The Company is planning to expand their business area
which turns into higher demand and sales of products manufactured by the company in
various countries of the world.
iii. Maintain and expand long-term relationships with clients
Our Company believes that business is a by-product of relationship. The business model
is based on client relationships that are established over period of time rather than a
project-based execution approach. Our Company believes that a long-term client
relationship with large clients fetches better dividends. Long-term relations are built on
trust and continuous maintaining of the requirements of the customers. It forms basis of
further expansion for our Company, as we are able to monitor a potential product/ market
closely.
iv. Optimal Utilization of Resources
Our Company constantly endeavors to improve our production process, skill up-gradation
of workers, modernization of machineries to optimize the utilization of resources. We
regularly analyze our existing material procurement policy and manufacturing process to
identify the areas of bottlenecks and correct the same. This helps us in improving
efficiency and putting resources to optimal use.
RISK AND RISK MITIGATION:
i. Financial Risks
The Companys policy is to actively manage its foreign exchange risk within the
framework of Forex policy. An interest rate fluctuation, the Company has adopted a prudent
and conservative risk mitigation strategy to minimize interest costs.
ii. Price Risks
Adverse Fluctuations in the price and availability of raw material could increase input
costs which may affect the operation of the company and thereby affect the profitability
of the Company .The Company proactively manages these risks through forward booking,
inventory management and proactive vendor development practices. The Companys reputation
for quality, product differentiation and service, coupled with existence of powerful brand
image with robust marketing network mitigates the impact of price risk.
iii. Regulatory Risks
The Company is exposed to risks attached to various statutes and regulations. The
Company is mitigating these risks through regular review of legal compliances carried out
through internal as well as external compliance audits.
INTERNAL FINANCIAL CONTROL SYSTEM:
The Company has in place adequate internal control systems commensurate with the size
of its operations. Internal control systems are designed to ensure sound management of
your companys operation, safekeeping of its assets, optimal utilization of resources,
reliability of its financial information and compliance. It clearly defines roles and
responsibilities have been institutionalized. Systems and procedures are periodically
reviewed to keep pace with the growing size and complexity of your Companys operations
HUMAN RESOURCE:
The Company firmly believes that Human resource is an asset to any industry, sourcing
and managing. The Company believes that employees are the key to the success of our
business. The Company focuses on hiring and retaining employees and workers who have prior
experience in the chemical Industry. The Management views this process as a necessary tool
to maximize the performance of our employees. The Company has not experienced any strikes,
work stoppages; labour disputes or actions by or with our employees, and The Company have
cordial relationship with our employees.
CAUTIONARY STATEMENT:
Statements in this management discussion and analysis describing the companys
objectives, projections, estimates and expectations may be ‘forward looking
statements based on the plan and assumptions of the management. Actual results might
differ substantially or materially from those expressed or implied. The Company assumes no
responsibility to publicly amend, modify or revise any such statements on the basis of
subsequent development, information or event.
|
By order of the Board of Directors |
| Place: Ankleshwar |
|
| Dated: 17.08.2023 |
|
|
(Karan M Jolly) |
|
Chairman & Managing Director |
|
DIN: 06587791 |
| REGISTERED OFFICE |
|
| 213, G.I.D.C., |
|
| PANOLI, ANKLESHWAR- 394116 |
|
| CIN: L24231GJ1994PLC022613 |
|
| Email Id: cs@prolifeindustries.in |
|
+91-9892691696
