After 2016-17 during which demand was weak and markets disrupted on account ofdemonetization the year gone by has been an encouraging one.
The revenues and profitability have both rebounded and the business is much moresustainable than before.
Two new products Curls and Cheese Balls were launched during the year.
Curls was an unprecedented success and Cheese Balls has settled down into a nichegroove. These products have expanded the customer base of the Company significantly andthis will help us to further build the business going into the future.
Work on the modernization and upgradation of the first extrusion line at the Ghaziabadplant has been taken up at a capital outlay of about Rs. 20 crore. This will also resultin an increased capacity of about 4000 MT per annum thereby taking up the total installedcapacity to about 39000 MT per annum.
Going forward we shall continue to invest in the development and introduction of newproducts innovate in the marketing of our products improve the efficacy of our consumerpromotions and strengthen the reach and productivity of our distribution system.
I am confident that our efforts will help in the growth and development of our businesson a sustainable basis.
I would like to thank the entire Management team for their untiring efforts indeveloping the business.
I am also grateful to the Board of Directors for their support and guidance. I alsothank all the stakeholders for their association with and trust in the organization.
With best wishes
Chairman & Managing Director
25th May 2018