As we learn to live with various disruptions, we realise that many things have changed in the last two years. One of them was the realisation that our decisions and financial commitments must be made keeping in mind the impact on environment and ecological balance. Businesses today are moving forward with clearer priorities and goals. At GHCL too, we realised that our resilience depended on adaptability and decisiveness. In order to stay relevant we needed to create a sustainable growth strategy with an increased focus on environment, governance, customer-centricity and digitisation.
Various initiatives aligned with sustainable and circular business processes, optimum utilisation of resources and investments in upgrading existing technology are our areas of focus. In our spinning business, we implemented a 10MW solar power plant and are in the process of executing an additional 12 MW. With this, almost 70% of the energy requirement for the spinning business will be from renewables. In the soda ash business, we are focusing on the Greenfield project and debottlenecking the existing facility. We will be doubling our RBC capacity, augmenting backward integration, adopting AI & IoT 4.0 at plant level and exploring product basket expansion. We are also proud to share that we have been adjudged first runners up at the Challengers Sustainability Award by Frost & Sullivan and TERI. This award reaffirms our efforts in creating a culture of sustainability and care for the environment within the organisation.
The financial results for Q3FY22 were a reflection of robust growth and operational excellence in both our businesses. In the Inorganic Chemical segment, we continued with our performance momentum due to strong demand from key end user industries. Spinning business continued to do well, driven by higher demand off take and firm prices. Our focus on Product basket expansion and value-added products is yielding results. Sustainability, customer-centricity and digitization continue to be the prime focus, fuelled by the desire to create value for all our stakeholders.
Dear friends, it is my belief that the coming decade will be decisive for the India. The economy in 2032 will be vastly different from what it is today and we must be ready for it. As partners in this journey, your participation and support as will be invaluable. A famous quote by Mother Teresa very aptly sums this up – “I can do things you cannot, you can do things I cannot; together we can do great things.”
R S Jalan