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Lakshmi Energy & Foods Ltd.

BSE: 519570 Sector: Agri and agri inputs
NSE: LAKSHMIEFL ISIN Code: INE992B01026
BSE LIVE 14:11 | 20 Sep 34.10 -0.30
(-0.87%)
OPEN

35.25

HIGH

36.00

LOW

34.00

NSE 13:54 | 20 Sep 34.50 0.20
(0.58%)
OPEN

34.80

HIGH

34.80

LOW

34.00

OPEN 35.25
PREVIOUS CLOSE 34.40
VOLUME 24545
52-Week high 77.00
52-Week low 33.05
P/E 2.88
Mkt Cap.(Rs cr) 239
Buy Price 34.05
Buy Qty 145.00
Sell Price 34.15
Sell Qty 182.00
OPEN 35.25
CLOSE 34.40
VOLUME 24545
52-Week high 77.00
52-Week low 33.05
P/E 2.88
Mkt Cap.(Rs cr) 239
Buy Price 34.05
Buy Qty 145.00
Sell Price 34.15
Sell Qty 182.00

Lakshmi Energy & Foods Ltd. (LAKSHMIEFL) - Chairman Speech

Company chairman speech

Dear Shareholders

It’s time we give you a glimpse into our company’s efforts over the last fewyears. As you are aware we started this company more than 25 years ago with only oneobjective in mind to provide hygienic and healthy food including the best aromatic riceto the domestic and international consumers. During the last decade your company hasgrown quite rapidly. It has slowed down only during the last three years due to externalfactors beyond our control. In your company Plants are equipped with the latest machineryimported from Japan Germany Denmark and USA which set the highest standards for the mostmodern food grain processing plants in India and state of art biomass based power plantproducing ‘green energy’. While we are proud of raising the bar in the Indianindustry but the global economic environment continues to give challenges to the industrybut we are balancing the factors of agri-business with our power generating business. TheBank consortium members were to disburse sufficient working capital funds according to thePBF finalized in the D&B TEV report and approved by the consortium members and IECunder the restructuring scheme to enable the company to make the desired procurement andutilize its production capacity and achieve the profitability in despite repeated requestsby the company members of the Bank consortium did not sanction/disburse the workingcapital limits as per approved PBF as per restructuring scheme due to which the companycould not make the desired procurement which has greatly affected the productionutilization and consequently profitability company during FY 2015-16 besides causingsevere loss to the various sections of the society.

However we are firm believers that by undertaking a reform in the mechanism andputting more focus on the production side of the business we would be able to recoup thesituation. In the first quarter of FY 2016-17 your company has performed extremely wellwith Rs.2662.94 million turnover and PBT of Rs.204.36 million. Biomass based Power Plantof the company is adding to the bottom line. We are hopeful that this trend of growth inAgri as well as in Power divisions of the company will continue in the current financialyear and onwards. Your company also plans to increase its market share by introducing newbrands of affordable basmati which will be a substantial part of the additional sales inthe coming years. with the scheme. However

To conclude I would like to thank our board of directors for their outstandingsupport. I would also like to thank the stakeholders and shareholders as well as employeesof the company who are working tirelessly to achieve the objectives of the company. Iwould also like to express my gratitude towards of the our customers dealers suppliersauditors and other associates for their continued support.

Regards

Balbir Singh Uppal

Chairman and Managing Director