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Astec Lifesciences Ltd.

BSE: 533138 Sector: Agri and agri inputs
NSE: ASTEC ISIN Code: INE563J01010
BSE 00:00 | 29 Nov 2073.90 -7.45
(-0.36%)
OPEN

2149.95

HIGH

2150.00

LOW

2063.75

NSE 00:00 | 29 Nov 2074.80 -7.40
(-0.36%)
OPEN

2130.00

HIGH

2130.00

LOW

2065.15

OPEN 2149.95
PREVIOUS CLOSE 2081.35
VOLUME 2172
52-Week high 2285.65
52-Week low 1269.55
P/E 41.71
Mkt Cap.(Rs cr) 4,065
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 2149.95
CLOSE 2081.35
VOLUME 2172
52-Week high 2285.65
52-Week low 1269.55
P/E 41.71
Mkt Cap.(Rs cr) 4,065
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Astec Lifesciences Ltd. (ASTEC) - Chairman Speech

Company chairman speech

Dear Shareholders

I hope this letter finds you and your families well and safe.

FY 2021-22 was a year of revival for Indian economy from Covid-induced disruption. Thecountry made rapid progress in vaccination and closed the year with majority of the adultpopulation vaccinated with both the doses. India's GDP growth rebounded to an estimated8.7% in FY 2021-22 from contraction in the previous year fastest in the world. India'smerchandise exports reached a record high of $418 billion in FY 2021-22 a 40% growth overthe previous year.

Another Year of Stellar Performance For your Company it was another of stellarperformance with the growth of 22.1% in total income and 38.1% in profit after taxyear-on-year respectively. Your Company achieved its highest ever total income andprofits primarily driven by higher realisations from exports favourable product mix andoperational efficiencies.

During the year your Company commissioned a new herbicide plant and started productionof CDMO products with satisfactory results. The construction of a new state-of-the-artR&D centre is on track and is expected to be completed in FY 2022- 23. Your Companylaunched two new CDMO products in FY 2021-22.

We care

Our Environment Health and Safety (EHS) team continued to work with highest level ofdedication and commitment to safety standards. Our safety record was excellent and we hadno lost time injuries. Our Corporate Social Responsibility (CSR) activities continued inline with the Godrej Group's Good and Green philosophy and positively impacted ourcommunities. We worked on projects in the area of agriculture and rural livelihoods womenempowerment water security education and community development. Under our Grameen Vikasinitiative we organised trainings for farmers in 9 villages in animal husbandry leadingto visible improvement in yield and income levels. We also facilitated drip irrigationfacilities community seed bank and kitchen gardens for rural households. As a part ofcommunity education programme we expanded our support for digital education to 978students and 15000+ hours of education content.

Business Overview

We continued our work on COVID-19 relief programme during the year and facilitatedvaccination of 16787 community members spread over 16 villages.

Way Forward

Going forward your Company will continue to work towards expanding contractmanufacturing business and also focus on diversification into other chemistries. YourCompany's newly commissioned herbicides plant and new R&D centre once completed willprovide a solid launchpad for achieving these targets.

We have our eyes set on the opportunities that the future holds for the agrochemicalssector of India owing to the factors such as China plus One Strategy and AtmanirbharBharat to capitalize on the opportunities of tomorrow.

Note of Thank

To conclude on behalf of the Board and management team I would like to express oursincere appreciation and deep gratitude to all our employees business partnerscustomers vendors shareholders investors and other stakeholders for their continuedtrust efforts and contribution to the Company.

I would also like to thank Mr. Ashok Hiremath for his immense contribution and guidanceduring his tenure as the "Managing Director" of the Company. Mr. Hiremathretired on 31st March 2022 post completion of his term and he shall continueto act as a "Non-Executive (NonIndependent) Director" of the Company. Mr.Hiremath founded Astec LifeSciences in 1994 and provided tremendous leadership for thepast 28 years. We look forward to benefit from his insights as a member of the Board.

Regards

Anurag Ray

Chief Executive Officer.

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