Last year was transformational for GRM. We established our strategic plan and began totake meaningful steps to simplify strengthen and profitably grow the company. Theprogress that was achieved in 201920 will have lasting effects and drive long-term valuein the company.
GRM Version 2.0 is a clear strategy for aligning the core strength in building futureoriented verticals. GRM had entered into branded business in last two years with UK andMiddle East markets. Within one year with our understanding of the product and consumerpreference we have got listed into various leading stores in these markets.
We have now aligned our resources to enter Indian premium markets for entire FoodStaple chain. The AO years old legacy and relationship with farmers will help us inserving the Indian Consumer and providing the globally accepted product experience andquality with immediate access though vide distribution network.
Our path is to Simplify Strengthen and Grow.
Last year we embarked on a process to define our future and this process allowed us tocentre on our core strengths evaluate our growth opportunities and develop a plan forsimplification to drive long-term value for shareholders.
The plan is to simplify our go-forward business strategy pursue efficiency in ourcosts and drive improvements in our operations through strategic technology investments.Our latest acquisition of Gujarat factory will help us in doing the same. We remain ontrack to achieve our goal by 2021 and this will be an essential contributor insimplifying the company and driving agility.
The steps we have been taking are designed to build on our core capabilities andstrengthen our foundation to create longer-term shareholder value. Chief among our effortshas been to improve our brand profile and maintain healthy risk management practices. Wemade significant progress on these fronts in 2019 and would continue to do so.
Our expertise on the product relationship with farmers infrastructure interms ofmanufacturing & warehousing and market presence is our core strength and will be oursource of growth. In 2016 we began to enhance our core capabilities by orienting our teamaround a more holistic view of our client relationships. Our clients and customers are atthe centre of all we do. We are grateful for their business and aim to deliver productsand expertise to help them meet their needs and drive value.
We are keeping consistent focus on building scale enhancing procurement efficienciesimproving manufacturing yield and improving operating efficiencies along with launchingand promoting our brands across geographies. We have defined our path forward and laid thenecessary groundwork for future success. As we look at the year ahead we are squarelyfocused on advancing our strategic actions improving returns on capital growing our corebusinesses optimizing the cost base and creating long-term value. We believe our successwill be driven by the expertise agility and commitment of the GRM's team who aim todeliver each day for our clients customers and shareholders. Our strategy will be clearlydriven by higher margins and profitability and building sustainable businesses.
Mr. Atul Garg
Chairman & Managing Director