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Future Enterprises Ltd.

BSE: 523574 Sector: Industrials
NSE: FEL ISIN Code: INE623B01027
BSE 00:00 | 29 Sep 13.50 0.60
(4.65%)
OPEN

13.50

HIGH

13.50

LOW

12.80

NSE 00:00 | 29 Sep 13.45 0.60
(4.67%)
OPEN

13.45

HIGH

13.45

LOW

12.95

OPEN 13.50
PREVIOUS CLOSE 12.90
VOLUME 1051821
52-Week high 29.55
52-Week low 7.55
P/E
Mkt Cap.(Rs cr) 675
Buy Price 13.50
Buy Qty 107708.00
Sell Price 13.45
Sell Qty 35757.00
OPEN 13.50
CLOSE 12.90
VOLUME 1051821
52-Week high 29.55
52-Week low 7.55
P/E
Mkt Cap.(Rs cr) 675
Buy Price 13.50
Buy Qty 107708.00
Sell Price 13.45
Sell Qty 35757.00

Future Enterprises Ltd. (FEL) - Chairman Speech

Company chairman speech

Dear stakeholders

We are pleased to share with you the annual report for the financial year 2018-19. Yourcompany posted a total income on consolidated basis of Rs. 6064.96 crore a growth of14.7% and a net profit of Rs. 175.44 crore at the end of this financial year. Your companyowns and operates through its subsidiaries and associated businesses some of thefundamental blocks that help run the extensive consumption ecosystem of future group.

Among the key businesses housed within your company are critical functions like designsourcing and manufacturing of its apparel business creation and maintenance of the retailinfrastructure network and the supply chain warehousing fulfilment network for theentire retail business of future group through its step down subsidiary future supplychain solutions limited. In addition the company owns substantial stakes in an officesupplies business various other group companies and two insurance joint ventures in lifeand general insurance space along with italy's generali group. Extensive managerialskills strategic acumen and prudent resource allocation are crucial aspects of thebusiness. The core business of the company is engaged in owning investing operating andmaintenance of the retail infrastructure that runs some of india's most popular retailbrands such as big bazaar b foodhall easyday club among others. In addition thecompany operates two textile mills in joint venture with national textile corporation andalso handles the design sourcing and manufacturing of millions of units of garments thatare sold through these retail networks. The company has been investing in these activitiesto keep them in line with the rapid rise in future group's retail businesses.

Future supply chain solutions limited (fsc) is a leading third-party supply chainsolutions specialist and logistics service provider that caters to future group as well asa large number of blue-chip companies engaged in the consumption space. The businessshowed strong momentum with the addition of 12 new client acquisitions during the yearincluding companies like benetton wrogn voltbek home appliances (a voltas jv) jk helenecurtis and tilda. Warehouse space managed by fsc increased by 3.08 million sq. Ft. To 7.66million sq. Ft. During the year and the business posted revenues of Rs. 1112.8 crore andnet profit of Rs. 65.2 crore a growth of 113% year on year. Technology continued toremain at the forefront of its operations with the ethos of agility authenticity andcustomer centricity at the heart of the business.

During the year fsc launched ‘india food grid' project that will eventually have38 integrated food distribution centres connected with a seamless network. Fmcg and foodbrands can now enter the grid from anywhere in the country and benefit from improvedsupply chain efficiencies reduced wastages and better inventory management.

In the life insurance business gross written premium crossed the Rs. 1000 crores markfor the first time in a fiscal year ending at Rs. 1243 crores. The company now covers793070 lives. The general insurance business distributed over 1.8 million policiesthrough the year. The general insurance business introduced a number of new policies suchas future varistha bima a tailor made product for senior citizens future vector care - abenefit product which insures against vector - borne diseases and shubh yatra group - atravel insurance policy that covers even daily commuters. Both the general and lifeinsurance companies pioneered a whatsapp based policy delivery platform - making themamong the first in the country.

Digital technology is now at the heart of every business and your company is making newinvestments in complimenting its play in physical infrastructure with digital networksthat help grow the consumption ecosystem of future group. The scale and scope of theconsumption play in india is vast and the company will continue to prudently investresources in building a stronger role in the sector. We thank you for being part of thisjourney and look forward to your continued support and encouragement.

Rewrite rules retain values.

Kishore biyani