We are pleased to report a steady growth in our financial and operating performance inthe year gone by. The strong performance by Sugar and Chemicals business stableperformance by other businesses and rationalization in our Agri-input trading businesshave led to significant improvement in our operating margins. Our healthy cash-flows andstrong balance sheet with low leverage has enabled us to make further investments thatwill contribute to the future growth of the company.
We have successfully completed our capacity expansion projects in Chemicals and Sugar(co-gen) business in FY 2017. In the current year we are adding further capacity inChemicals setting up a distillery in Sugar business and expanding capacity for Fenestabusiness. These investments along with our focus on cost optimization across all thebusinesses and volume expansion in Bioseed and Shriram Farm Solutions will providesatisfactory growth in coming years.
India is amongst the fastest growing major economy in the world and is likely tomaintain high growth over medium to long term. The increase in investments ininfrastructure rural development and agriculture by government augur well for sustainedgrowth in our businesses. We are taking all steps to participate in these opportunities.
Our employees are our biggest strength. Building capability of employees has alwaysbeen a significant focus for us to enhance business performance on a sustained basis. Itis the company's endeavor to develop a culture that promotes innovation learning anddevelopment.
As a responsible corporate citizen we are committed to give back to society. We areactively engaged in initiatives in the areas of education health water conservation andrural infrastructure and have executed projects to make impact in all these areas.
We would like to take this opportunity to thank all our stakeholders - members of theboard business associates employees suppliers government agencies lenders andshareholders-who have contributed to the growth and development of our company over theyears. With their cooperation we are confident of delivering superior value to allstakeholders.
With best wishes
|(Vikram S. Shriram) ||(Ajay S. Shriram) |
|Vice Chairman & Managing Director ||Chairman & Sr. Managing Director |