We anticipate GST to have favourable and positive impact on our business
aim at expanding our customer base, product mix and increasing capacity.
Our R&D Centre at Ankleshwar adds a lot of enrichment to the company. It is an approved centre by the Department of Scientific and Industrial Research (DSIR), and it is our backbone where our team of engineers and doctors are working continuously to develop newer and specialty products. The company has a clear strategy to develop and introduce eco-friendly specialty oils, especially in the rubber and ink segments and textile auxiliaries. We strive to remain connected, internally with our employees, externally with our customers, and globally with the emerging market trends to anticipate new directions and to provide our customers not only a competitively priced product, but with a solution to their requirements with full technical support and back-up.
We believe in focusing on our strengths and to re-orient the playing field to suit our strengths and build upon them to grow our business. We have consistently achieved a growth rate of 20 per cent and we are hopeful of accelerating it further in the coming years. respond to these changes and maintain our inventory. Our finished product prices are negotiated with customers each month and any changes in the raw material prices are passed on to the customers accordingly. Panoil is our brand name and it includes around 80 different variants of petroleum specialty products for a wide range of industrial segments such as ink, rubber, cosmetics and pharmaceuticals, electrical and power generation industry, textile lubricants and other industrial and automotive lubricants. Since we have a very diversified products portfolio, we are not dependent on any single industry but a wide spectrum of industrial segments. As long as the oil prices fluctuates within range it is not a major concern, however it is the abrupt and sharp movements in the oil prices within a short span of time which poses more challenges for our business. The company is hopeful of overriding the adverse effects of the price fluctuations in the petroleum industry by resorting to bulk purchases and cost control measures.
Financial risks associated with currency exchange rate is tracked and managed within the risk management framework. Rupee volatility is not a major concern, as long as the fluctuations are rangebound, since about 50 per cent of our revenue comes from export market and it provides a natural hedge against rupee volatility.