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Baba Agro Food Ltd.

BSE: 535007 Sector: Agri and agri inputs
BSE 05:30 | 01 Jan Baba Agro Food Ltd
NSE 05:30 | 01 Jan Baba Agro Food Ltd

Baba Agro Food Ltd. (BABAFOOD) - Chairman Speech

Company chairman speech

To Our Shareholders

It s a matter of enormous pleasure for me to report to you that your company has madetremendous strides in the year gone by. The year has seen a number of significantdevelopments; events that have had a bearing on the performance for the last year andevents that will shape the future of your company.

In terms of significant milestones we can look back with pride and recount several;some of the major events of the year are briefed herein.

A year in which bold step were taken to march towards becoming a brand driven nonbasmati rice company with wide basket of varieties of rice covering multiple pricepoints reaching house hold of all income groups with their regional taste of rice likenever before.

Financial Year in Review

The Financial Year 2019-20 has been quite promising and challenging for Baba Agro FoodLtd. Overall the company achieved greater heights this year. The results were quitepromising in Rice Industry.

I am pleased to report that 2019-20 was a year of solid performance and record profitsfor Baba Agro Food Ltd (BAFL). The Company achieved a net profit of Rs. 197.86 million inFY2019-20 ie 38% more than Previous year i.e Rs142.93million a year ago.

In Appreciation

I extend a warm welcome to Mr. Manish Kumar Sahu Our New Managing Director. Mr ManishKumar Sahu is also the Promoter of the Company. Mr. Manish Kumar Sahu has been appointedto the Board on 17th December2019.

I extend a warm welcome to Mr. Pankaj Harlalka and Mr. Manoj Kumar Choudhary to theBoard as an Independent Director. Mr. Pankaj Harlalka and Mr. Manoj Kumar Choudhary havebeen appointed to the Board On 17th December 2019. I would like to thank theformer Board member for his past contributions and support during his tenure.

Further I extend a warm welcome to Mrs. Rakhi sahu to the Board of Directors as nonexecutive Women Director. Mrs. Rakhi sahu has been appointed to the Board on 17thMarch 2020.

I would like to thank the former Board member for her past contributions and supportduring his tenure. I convey sincere appreciation to our employees bankers businessassociates and customers for their steadfast support.

Last but not least I would like to thank our shareholders for their continued supportand confidence in Baba Agro Food Ltd.

Yogesh Kumar Sahu
Non Executive Chairman