Dear Valued Shareholders
DURING2022 THE YOUR FISCAL COMPANY YEAR WAS2021 ABLE-
to achieve a decent operational and financial performance despite theVolatile markets and pandemic's effects on daily life remained throughout the year. As acommitted corporate citizen our top priority has always been and will continue to be theprotection of the health and safety of our workforce as well as the production andlogistics uninterrupted flow of our products across all the markets in which we areactive. During this challenging time your company with business planning and with thecooperation between our team and authorities has ensured the un-interrupted andsustainable food value chain function and maintained our product supply. The continuedfaith and trust reposed by our customers suppliers workers and other stakeholderscontinue to support us we have been able to achieve a great deal of success. The Indianmarine sea food production and exports are growing year - on - year. During 2021-22 themajor marine products exports stood at US$7.77 billion and Andhra Pradesh contributedsignificantly for the marine sea food exports. The Shrimp major regions exported are USAEurope and China.
India is positioned for a revitalising upward trend capitalising onmassive pond and tank areas as well as the extensive coastline and it is already thesecond largest contributor to the global aquaculture market.
Several state governments are actively promoting the utilisation of newtechnologies in an effort to boost overall
The continued faith and trust reposed by our customers suppliersworkers and other stakeholders continue to support us we have been able to achieve agreat deal of success.
aqua and marine sea food productivity with the growth In DigitalTechnology and IT. The number of online orders placed for seafood has expanded thebusiness both domestically and internationally. Other key growth drivers include theenormous private investments in research and development and state of the art technology.These initiatives will bring India to the forefront to make a mark and compete in theglobal aquaculture sector.
During the FY 2021-22 with the mentioned Constrains and opportunitiesyour company has the underlying good performance of the financial results for 2021 - 2022which demonstrates that both our operations and markets have remained stable despite thechallenging market situation and your organisation was successful in meeting importantoperational & financial performance objectives for the fiscal year 2021 22 andwe all share these proud and delightful moments of achievements.
The beginning of this 2022-23 year has been marked by rising globaltensions as a direct result of Russia's invasion of Ukraine. The conflict isheartbreaking and our primary concern is for the toll it will take on civilians and aidworkers. The war is a big setback for both democratic values and economic growth and itis already imposing inflationary pressure because of rising commodity costs.
I would want to express my sincere gratitude to each and every memberof our team for the long hours they have put in and the sacri_ces they made in 2021 inorder to comply with the regulations and constraints imposed by the pandemic. Theperformance of our company Coastal Corporation Limited going forward his built on strongfundamentals and business plan with appropriate expansions and diversifications ofbusinesses. I am thankful to our bankers buyers and every one of our workers for theefforts they have made over the years which have contributed to the success of CoastalCorporation Limited. Their faith in us their unstinted support and the effort they put inwill continue to be the most important features of our long-term success.
I am also thankful to the other Directors of the Board for theirsupport and having the confidence and trust in me and for Chairing the company and theyhave made a big contribution to the success that your organisation enjoys today. Togetherwith our staff we will try to keep building and growing the company within the scope ofits planned current business activities.
I look forward to your continued support in taking your company togreater heights in coming years.