FORTUNE FOODS LIMITED
ANNUAL REPORT 2007-2008
I am happy to report that your Company's performance during 2007-08 has
improved considerably. Your Company recorded sales of Rs. 1449.67 lacs
which is lower by 31.94% over the previous year's. During the year sales
was lower because we have converted business of Parle Agro from 2P to 3P
basis from 1st November 2007 (Job work) The Company has turned around and
made a profit (EBIDTA) of Rs. 246.65 lacs.
Your Company coming out of red is a milestone in the Company's history,
indicating the end of bad days. During the year Company has started
operations for M/s. Parle International Ltd., Mumbai in full swing. The
products i.e. 'Frooti'- Mango Drink & 'Appy Fizz' Apple Carbonated Drink in
pet bottles have received tremendous response from the market. This tie-up
will enable the Company to sustain its performance in the years to come.
The general awareness towards health and hygiene among the masses adds to
the growing demand for bottled drinks. Your Company is in the final stages
of talks with a number of MNCs, organized retail format stores, hyper
market owners etc. for packaging of branded juices/drinks in pet bottles,
vegetables and other products.
I wish to thank all our staff for their commitment and diligent discharge
of the assigned functions which has collectively contributed to your
Company's turn around resulting in positive net worth. Today I experience a
sense of achievement which has been possible because of your continuous
support and confidence evinced by you. I thank you all for the same. I
place on record my sincere appreciation, for the cooperation and support
extended by all customers, business associates and bankers. I am hopeful
and confident of the continued co-operation from one and all in the years
With best wishes.
Chairman & Director