The financial year 2014 has been a very challenging year on a number of fronts.
We are happy to report that your Company has responded to these challenges very welland has been able to register a growth of 21% on revenues to RS.143154 lacs 30% onEBIDTA to RS.24371 lacs and 88% on PAT to RS.8354 lacs.
During the year we have grown significantly in US Mexico Brazil Venezuela andEurope and have maintained our market share in Australia Thailand Indonesia Argentinaand other countries of Latin America. We are building up businesses in Europe BrazilIndonesia India and Latin America.
Cropwise Sorghum contributed about 40% Corn - 23% Sunflower-15% Canola - 11% andSweet Corn - 6%.
India also achieved creditable numbers as the Company's forage business enjoyed astrong competitive position in some important markets. Some of the crops in India haveemerged as trademarks thereby positioning Advanta as a favored choice among the customers.
In the US we have moved our business from a private label to branded business and wewere able to introduce genetics and provide high value to growers. We have registeredimpressive growth in Mexico particularly in sorghum. We are going to start selling GMcorn in US markets.
We have been growing in every single region of the world and running our business in amuch profitable way thereby enhancing value to the stakeholders.
We faced challenges in Thailand due to drought and uncertain political conditions andEurope slowed down due to uncertainty in the CIS region.
At Advanta we have been delivering on our commitments to run a more profitableorganization. Our international business has been growing incrementally and we expect alot of contribution from different countries helping us to deliver another good year.
Advanta is a long-term investment company some of the markets bring much growth forus but there are also some markets where we are investing at this point of time willgive revenues in the next 2-3 years. Also we have some intermediate markets that arestarting to develop good numbers in line with our expectations.
Advanta is a hybrid seed company where most of our revenues are from Hybrids. We haveGM sales in corn mainly in South America. We have our genetics and are working on havingelite genetics transform into GMO version.
At Advanta a combination of genetics and technology will enable us to maintain goodprofitable position and increase our market share. We are putting in place a verysophisticated and unchallenged strategy where we combine all the geographies to achievecompetitive advantage.
The global population is increasing more than 1% annually; food demand is increasing -needs to be doubled to feed the additional 3 bn population by the end of 2050. On theother hand farm acreage remains stagnant as additional farmland carries a highenvironmental risk marked by the conversion of forest into farmland. The need of the houris the increased use of high yielding seeds to enhance productivity. Advanta is workingwith the best of the science and technologies to address this challenge that the world isgoing to face in a few decades.
The seed industry will continue to grow in the coming years with a continuous demandfor high-yielding and high-quality products.
We are very excited about the next year having a strong competitive position to servicethe farmers with higher productivity. We are very well-prepared to deliver Advantaproducts to growers and customers.
We continue to grow in Sorghum developing some new areas in the Northern Hemisphereand other geographies in the coming years. Over the next 5 years larger contribution isexpected from South America Asia including India Europe Africa Australia US andLongreach.
Advanta believes that innovation is the cornerstone of sustainable development andfocuses on strategic investments in research and development. We continue our research inour core crops reinforcing the Company's positioning as a global market leader.
Looking ahead we are attractively placed to grow our business. We enjoy amulti-geography and multi-crop presence which de-risks us from an excessive dependence onany country or crop.
I would like to share my optimism on the quality of our product portfolio and alsoappreciate the talent of our people which makes a perfect combination to deliver value toeach of you. I am committed to drive the Company on its value growth and seek yourcontinuous support during the journey.
I take pleasure in thanking all of you for your support continued effort andunderstanding. We had a very good year and we are expecting to have a continuous growthand sustainable business over the coming years.
The best is yet to come.
Global Chief Executive Officer