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Sukhjit Starch & Chemicals Ltd.

BSE: 524542 Sector: Others
NSE: N.A. ISIN Code: INE450E01011
BSE LIVE 15:40 | 12 Dec 399.85 -4.15
(-1.03%)
OPEN

400.10

HIGH

405.00

LOW

398.00

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 400.10
PREVIOUS CLOSE 404.00
VOLUME 1309
52-Week high 433.45
52-Week low 240.00
P/E 17.70
Mkt Cap.(Rs cr) 295
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 400.10
CLOSE 404.00
VOLUME 1309
52-Week high 433.45
52-Week low 240.00
P/E 17.70
Mkt Cap.(Rs cr) 295
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Sukhjit Starch & Chemicals Ltd. (SUKHJITSTARCH) - Chairman Speech

Company chairman speech

What Does Name 'Sukhjit' Mean

You are spiritually intense and can sting or charm. Your name brings love and newstarts into life and attracts money. In business you are the creator and promoter oforiginal ideas and usually enjoy considerable financial success. Emergencies may raiseyour intuitive abilities in order to resolve conflict or situation. You become verycreative under the pressure and have quite original ideas to make the best out of it.

Position and social status is very important for you and you are always looking for wayto improve your position in society. You have power and ability to chose your own destinyand achieve anything you want in life. You can expand in any direction according to yourwill and the set of values. You have passion for justice and belong to the position ofauthority. You have an inherent courage and endurance to accomplish 'The ImpossibleDream'. With the power comes responsibility you hold keys to the material world but withthis gift comes high spiritual responsibility to be fair and true to others. You arephilosophical and mature determined and intense with a desire to endure often religious.Source: http://www.sevenrefiections.com

''You can't build a great building on a weak foundation. You must have a solidfoundation if you're going to have a strong superstructure.''

Gordon B. Hinckley

Dear Fellow Shareholders

As our first name suggests we are quick and fluent in our expressions we guardagainst boastfulness or dominating a situation have vision and foresight to be able toorganize others and to hold position of responsibility with poise and self-confidence andcreatearen optimistic outlook on life and favorable conditions in the personal affairs.

Sukhjit will be 74 years old company this year. We will be celebrating our DiamondJubilee next year with lot of confidence and excitement. The confidence of my team is onTOP as we have passed one of the most difficult times for starch industry in last 5 years.We are excited to achieve 1000 cr turnover by 2020.

Our company was started in 1944. We have seen ups and downs and trust me followingwere the key words of our discussions when we were thinking about the future :

Local vendors unorganized market Exports Focus Licence RAJ Product-Mix changeConsolidation Urban Infrastrature development Sustainabilty Cash flow managementValue-addded products Focus approach Labour problems Efficiency farmer bettermentmonsoon government change policy paralysis M & A Food habits global commodityprices intense competition industrial revolution green revolution electricityshortage learning from errors corruption skill manpower shortage IT boom and foreignplayers entering India.

With my 50 years of experience whatsoever we could do irrespective of the industryand its dynamics if we worked with our SOUL and with consistency and strategy there isno question of failure in the long run. In Sukhjit we have demonstrated the same in last74 years. As we work to build the India's most successful and enduring agribusiness andfood-ingredient provider we are mindful that creating a company for the ages requiresmore than just an effective strategy and outstanding execution. Let me proudly share thatwe are selling our products with MNC quality at Indian prices.

Today every team member spends many hours daily for a sustainable long term growth. WeFace challenges with clear Focus unwavering Faith and steadfast Fortitude

Let me ensure you that our strong foundations along with the strategy for future growthis in the right direction.

We are investing close toRs. 125cr in our most ambitious project - a Mega food Parkwith state of the art anchor unit with latest automated production line with captive powerplant. Spread over 55 acres the new facility will unleash economies of scale size andscope and will result in a distinct competitive advantages. The plant will be fullyoperational by October 2019. The plant will also maintain a permanent R&D facility.There will be some end users of Sukhjit starch who will also setup their manufacturingunits within the Mega Food Park. Integrated manufacturing at a single site would reducethe production cost owing to reduced transportation cost. There will also be a coldstorage of 3000 Mts capacity and Silos/ warehousing facility of 25000Mts to ensure rawmaterial consistency for Sukhjit and end users with in the Mega Food Park.

The new plant will also synergize the peoples potential as personnel of various skillsets shall work together collaboratively and cohesively sharing learning and experienceto create innovative and high-value products. During the last 30 years we deployed ourunique combination of acumen and assets against an exceptional set of opportunities andchallenges and again delivered reasonable financial results.

While we are committed to meeting our financial goals each quarter we will remainfocused on executing our longer-term strategy. The Company's strategy involves expandingthe volume and diversity of products that it processes expanding the global and regionalreach of its core model and expanding its value-added product portfolio. The Companydesires to execute this vision and these strategies by conducting its business inaccordance with its core values of operating with integrity treating others with respectachieving excellence being resourceful displaying teamwork and being responsible.

Our operational excellence initiatives have delivered significant savings andefficiencies and we continue to grow strategically by expanding into new geographies andincreasing our capabilities in food beverages and feed. Those actions contributed to theimproved results we saw in the 4th quarter despite still muted margin environments in somebusinesses and the continued momentum in the execution of our plan gives us confidencethat we will deliver sustainable value creation.

We are beginning to see the benefits of our aggressive actions to improve ourperformance and continue to expect that results will improve as we move through the year.

The prices of agricultural commodities which may fluctuate significantly and changequickly directly affect the Company's working capital requirements. The inventory levelstypically peak after the full harvest and are generally lower during the off season.Working capital requirements have historically trended with inventory levels. No materialpart of the Company's business is dependent upon a single customer or very few customers.Even as strong demand for crops and commodities challenged the supply chain we continuedto capture value for our shareholders as we met our customers in FMCG Pharma Paper andindustrial products.

Our vision is to build on our history of excellence to create a company that continuesto evolve with NATURE and grow adapting to a changing world and to changing consumerpreferences.

What this means in practice is that while we are committed to meeting or exceeding ournear-term financial goals we remain focused on our long-term strategy. Together we willcontinue to focus on executing our strategy and adjusting our portfolio so that we cankeep creating value for our customers and stockholders and in the process create excitingnew opportunities for you who drive our success.

With thanks I offer full credit for the last year performance to the people ofSukhjit. While continuing to respect and indeed relish the traditional strengths of thecompany they embraced a new focus new people and a new set of expectations anddisciplines all is while maintaining an unwavering commitment to delivering quality andvalue for our customers and shareholders.

Last but not the least I thank our valued customers stakeholders suppliers businessassociates shareholders bankers and above all my colleagues in Sukhjit for theircontinuous support and guidance. In every business scenario we will follow our corevalues of hard work integrity team and social commitment.

Your Sincerely

I.K. Sardana

"In a competitive industry only paranoid incumbents - those constantly strivingforbetterment - have any hope of surviving."

RaghuramRajan