It gives me immense pleasure to present the 23 Annual Report and the performance of theCompany.
In this emerging world our company faced the challenging environment in front of itscompetitors and stood amongst the top in the market. The people have become healthconscious and believe in pure and healthy food. Our Company provides one of the besthealthy and nutritious oil to the society and contributes to the health and nutritiousvalue of consumers.
Such is our commitment towards quality that despite weak global economic sentiment wehave grown in our existing business verticals. Improved branded sales better realizationof oil seed extraction effective control on costs and positive sentiments towards ourbusiness have helped us earn better pro ts. This asserts the very fact why we are one ofthe leading FMCG (fast moving consumer goods) companies in the country.
We have ended the nancial year 2015-16 with group's net pro t after tax amounting toRs. 1115.32 lakhs compared against Rs. 917.20 lakhs in previous year whereas groupturnovers was recorded for Rs. 340496.93 lakhs against Rs. 587403.59 lakhs in previousyear. The gures of previous nancial year includes the gures of demerged undertaking too.In fact Company has registered a growth of 25% in current year turnover as compared to theprevious year (excluding the turnover of demerged undertaking in previous year).
The Composite Scheme of Arrangement was approved by Hon'ble High Court of Gujarat whichbecame effective from July 2015 with appointed date 01 January 2015. The Company hasgrown after the demerger due to ef ciency in capacity utilization and cost reduction.
The Indian housewife both in the urban and rural sector is becoming increasinglyconscious about quality and purity thus demanding branded edible oil products. This hasresulted in a shift of the Indian consumer from loose and adulterated edible oils tobranded offerings. With increasing quality consciousness rising incomes andconsolidation branded sales are likely to grow at 25-30% over the next few years.
The Indian market presents a signi cant growth for oil players owing to growingpopulation income growth and low current per capita consumption. Your company ispositioned strongly to tap the opportunities. Despite the positive signs we remaincautious and vigilant as we are exposed to volatility in commodity as well as currencyfronts. We are guided by our stake holders the industry and the nation promotinginclusive growth.
As per feedback and response we believe that consumers relate our brands with puritysmell and taste. Gokul Refoils' agship brands Gokul Tandurast Rozana Gurjari and BakeryBrand performed exceptionally well in the current year. Today Gokul is positioned as thepremium brand for the loyal housewife while Rojana is affordable brand. All major brandsof Gokul Refoils reported robust growth for the year. Today nearly 65% of the Company'sedible oil sales come from the branded segment and retail sales are also signi cantlyincreasing in the proportion.
Your Company is in planning to launch new products like Sun Flower Re ned Oil GroundNut Oil and Corn Oil. Company is now focusing to increase in consumer packed sales throughvarious ATL & BTL sales promotion activities and increasing the share in foodprocessing industries at national level.
I would like to take this opportunity to thank our dedicated and motivated employeeswho are the greatest asset of theCompany and who have with their passion hard work andcommitment taken it to this level. We also thank our stakeholders clients vendorsbankers investors Governments Government Agencies and partners in growth for reposingtheir con dence and faith in the Company. It is your trust and commitment that inspires usto set high standards of growth and performance and continue to deliver high returns toour stakeholders. We look forward to continuing on the path of excellence and pro tablegrowth into the coming years.
|Balvantsinh Rajput |