The company was focusing on improving bottomline and expect margins to improve by 50-100 basis points in FY19, said Atil Parikh, Managing Director, 20 Microns.

He said 20 Microns aims to pare down debt going forward. Currently, the total debt, including working capital debt is Rs 130 crore. The long-term debt as on March 31 is Rs 65 crore.

For FY19, the revenues are expected to grow in double-digits, said Parikh.

From the paint industry, Berger Paints is the largest customer, followed by Kansai Nerolac, then Asian Paints and AkzoNobel.

As a three-five year strategy, the company is focusing on specialty chemicals, where they are replacing imported products by focusing more on innovation.

The company has aggressive growth plans and expect a 30-40% growth in next 3-4 years.

The year-on-year (YoY) Q4 revenues were up 14.5% and EBITDA was up 65.5%.

The YoY earnings before interest, taxes, depreciation, and amortization (EBITDA) margins for the fourth quarter were up 12.7%.

Meanwhile, the YoY FY18 margins were up at 13.4% versus 13%.

20 Microns is India's largest manufacturer of micronised minerals, which primarily has application as functional fillers in paint, paper, rubber and plastic product.

But it largely depends on the paint industry for bulk of its business. All large names in the paint industry work in close association with 20 Microns for sourcing their raw materials.