Leverage our diverse offerings to expand into international markets and capitalize on the growing agrochemical industry
We have successfully developed a large customer base globally. As part of our growth strategy, we aim to expand our global presence, enter new markets and further diversify our operations and expand our international customer base. We cater to customers in 39 countries in Latin America, Asia Pacific (excluding India), North America and other geographies.
Continuing to expand our product offerings by leveraging our R&D capabilities
Our focus on R&D and manufacturing capabilities has been a key element which has supported our operations. We aim to diversify our existing product portfolio by incorporating new products that align with our current offerings. In 2022, our Company commissioned an R&D and pilot plant facility to test commercialization of our products. We intend to continue to invest in our R&D initiatives and further strengthen our manufacturing capabilities in order to grow our product portfolio for both the domestic and international markets. We have strategically harnessed our R&D capabilities to significantly expand our portfolio of patented products.
Continue to diversify customer base by adding new customers and increase wallet share with existing customers
We believe that our long-standing relations with our diverse customer base position us well to increase wallet share with our existing customers, while continuing to focus on expanding our customer base for our Domestic Business as well as International Business. Several of our customers have been associated with our Company for over 10 years.
We intend to focus on expanding our customer base, deepen relationships with existing customers by improving our existing products, and also increasing the number of products that we manufacture. We aim to continue to maintain a strong track-record of repeat orders from our existing customers as well as expand and strengthen our relationships as part of our organic growth efforts.
Optimization of manufacturing capabilities through backward integration and focusing on improving operational efficiencies
To optimize our manufacturing capabilities, we intend to increase our backward integration through manufacturing of intermediates used in the production of Technicals. Through backward integration, we believe that our Company will gain more control over its supply chain, which can help ensure a steady supply of essential raw materials. This will reduce dependency on external suppliers and will mitigate risks associated with supply chain disruptions.
Further, in addition to expanding our manufacturing capabilities for new products, we may also plan to enhance our production manufacturing capabilities to expand our geographic reach. We believe that this would allow us to efficiently and effectively serve our customers in different regions, while also optimizing our production costs and achieving economies of scale.
Reduction of borrowings and leverage
As part of the strategy of the Company, we intend to reduce our borrowings. We believe that the repayment/ prepayment, will help reduce our outstanding indebtedness, and enable utilisation of some additional amount from our internal accruals for further investment in business growth and expansion. In addition, we believe improvement in our Net Debt to Equity ratio will enable us to raise further resources at competitive rates to fund potential business development opportunities and plans to grow and expand our business in the future.
