Dear Shareholders this year proves to be very dynamic year for the company withimplementation of the tax reforms in the form of GST proved to be a mile stone for thebusiness of the Company.
In addition to the subsidy reforms in the form of DBT we expect corrections to happenin duty structure of raw materials to make domestic manufacturing more sustainable andfoster innovation. This may reduce the imports of finished goods and promote manufacturingself-sufficiency which bodes well with Make in India' theme. Going forward weexpect the policy corrections to happen in this direction that can improve theproductivity levels and farm returns.
I am confident that Agrophos can contribute significantly towards achieving the goal ofself-sufficiency in fertiliser production. Over course of a decade Agrophos hastransformed from being product centric to a service oriented customer centricorganization. Our presence across the farming value chain positions us uniquely tounderstand the farming needs and deliver innovative solutions. With presence of around 200Distributors across India we have moved closer to the farming fraternity and areleveraging the technology and knowledge platform to bring difference to the farmer's life.We are committed towards partnering with the agriculture fraternity to usher a new phaseof growth and prosperity.
Specialty nutrients and Organic manure businesses continued to offer balanced nutritionand customized crop solutions. It was heartening to see Government noting the importanceof balanced nutrition as its reform initiatives spanned around soil health aspect andpromoting organic manure usage through market development assistance. In addition SingleSuper Phosphate(SSP) business improved its volume and market share though margins remainunder pressure. Our initiatives in SSP spanned around building quality differentiationthrough farmer awareness campaigns and has also started the manufacture of fortifiedfertilizers it is a combination of Zinc and Boron In this segment also your Board islooking positive to achieve the desired targets. Company has also started its own researchand development to help in development of new products across all business segments.
As we move into the next year I expect the agriculture reforms announced during2017-18 to take shape and contribute in a significant way towards doubling the farmincome. I would like to reiterate Agrophos's commitment towards partnering with all thestakeholders to ensure food security and farmer prosperity. With around 17 years ofexperience in serving the Indian fields your Company is well positioned in terms ofdelivering quality fertilizers and strive towards excellence to fulfill farmerexpectations and shape the future of Indian agriculture. I expect Agrophos to touchfarmer's heart every moment and be his advisor and companion in his success story.
Lastly I wish to thank the shareholders for showing their undeterred support businessassociates for allying through our journey and employees for being Company's growth engineWhile the public listing opens up opportunities for us to take the business to newheights it also adds additional challenges for the Company to meet increased expectationsfrom all our stakeholders. We have laid strong foundations over the previous years and weare confident of meeting and exceeding the expectations. We believe we have a compellingstory and we look forward with great passion to the future creating greater value for ourshareholders.
|RAJKUMAR GUPTA |
|CHAIRMAN & MANAGING DIRECTOR |