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Avanti Feeds Ltd.

BSE: 512573 Sector: Agri and agri inputs
NSE: AVANTIFEED ISIN Code: INE871C01038
BSE 00:00 | 29 Jun 425.00 -4.10
(-0.96%)
OPEN

420.30

HIGH

429.70

LOW

420.30

NSE 00:00 | 29 Jun 424.70 -4.90
(-1.14%)
OPEN

428.00

HIGH

430.20

LOW

423.75

OPEN 420.30
PREVIOUS CLOSE 429.10
VOLUME 3089
52-Week high 675.00
52-Week low 384.90
P/E 29.07
Mkt Cap.(Rs cr) 5,789
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 420.30
CLOSE 429.10
VOLUME 3089
52-Week high 675.00
52-Week low 384.90
P/E 29.07
Mkt Cap.(Rs cr) 5,789
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Avanti Feeds Ltd. (AVANTIFEED) - Chairman Speech

Company chairman speech

Dear Shareholders

FY 2020-21 challenged all of us. We were tested by the pandemic in manyunexpected ways - the resilience of our business the agility of our operations and thedepth of our financial strength. But thanks to the relentless commitment and dedicationof every member of the Avanti family we could overcome these challenges and significantlyameliorate the pandemic's impact.

With a proven track record of over 28 years your Company hasestablished itself as a pioneer in the Indian shrimp industry. It has sustained itsleadership position powered by its unwavering focus on a portfolio of world-classproducts deep insights into consumer behaviour continuous innovation and superiorproduct development capabilities. Over the years it has created multiple growth driversby its nimble-footed response to industry needs based on a firm sustainable growthstrategy. During the year under review your Company has commenced commercial production inits state-of- the-art Hatchery and has evolved as an integrated aquaculture Company. Weshall further fortify our leadership position across existing businesses by concentratingon innovation and enriching our product mix.

COVID-19 forced a countrywide lockdown in late March 2020 causing aquafarmers to harvest their shrimp in panic. Due to fears of cancellation / postponement ofpurchase orders factory shutdowns and an exodus of migrant workers shrimp processingplants had a hard time receiving the harvested shrimp. Shrimp prices fell steeply as aresult. Specific Pathogen-Free (SPF) broodstock wasn't available throughout April asinternational flights were also cancelled. Despite a subsequent improvement in thesituation India's shrimp production took a hit in FY 21 and declined by 20% (to 6.2Lakh MT).

India's aquaculture industry is set to recover well in FY 2021-22.An increase in demand is expected to lead to revenue growth. Shrimp exports began to lookup in the second half of last year after a rough patch in the beginning. Despiteincreasing competition from Vietnam Thailand and Ecuador our exports should rise in thenear term. China and the USA have resumed buying substantial quantities of shrimp fromIndia. The unexpected severity of COVID's ‘second wave' has led tolarge-scale countrywide lockdowns posing a serious challenge to the production ofshrimps. However we are seeing encouraging signs of the curve flattening graduallyhelped along by a fresh momentum in the vaccination drive. From now on we do expect tosee a steady growth in India's aquaculture industry.

We have effectively countered every business challenge that came ourway in the previous fiscal and emerged stronger from it. This success is due in largemeasure to the unstinted patronage of our aqua- farmers and the admirable commitment ofall our employees across the board.

I also gratefully acknowledge the unremitting support we have receivedfrom our large family of customers dealers suppliers financial institutions andstrategic partners during our challenging journey. We shall work to strengthen these bondseven further over the coming years.

I am also sincerely thankful to my fellow Directors for theircommitment and professionalism in paving Avanti's longterm growth path. Aided bytheir skill and dedication your Company has boldly weathered all the turbulences thatwere encountered during the year with its usual resilience and professional approach.

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