These are trying times for the world. The global pandemic which grippedthe world in 2020 continued to affect lives and livelihood of the people across the world.With over 200 million cases being reported worldwide and over 4 million fatalities. Indiahas had over 31 million cases and over 400000 fatalities. The sad part is that thepandemic is still not over. The silver lining is of course the Vaccine.
Your company's first priority has been the safety of its people. TheCompany carefully laid down strict procedures for social distancing sanitizing wearingof appropriate personal protective equipment amongst other measures to run its operationsduring COVID- 19. The company has also adapted the Work From Home policy whereverfeasible. We have encouraged our people to be vaccinated. As of now about 15% have beenvaccinate with both their doses and 70% have received their first dose.
During the year your company achieved a turnover of Rs678 crores and anet profit of Rs33.60 crores. The consolidated income from operations and net profit forthe year was Rs1640 crores and Rs52.64 crores respectively. This was particularlysatisfying after the dismal performance of 2019-20 considering the challenges of thepandemic year.
Although the year started on a stable note the exports for theindustry which were at approx. 5.50 lakhs Metric Tons in 2019-20 stood at approx. 6.90lakhs Metric Tons in 2020-21. The year was thus a record year both in terms of the castorseeds production of 1962000 metric tons and exports. The current years castor seedestimates have been pegged at around 17.5 lac MT's.
The farmers of the country particularly from the State of Gujarat haveestablished their reliability to supply castor seeds for the world requirement of castoroil by responding to the growing demand for castor oil.
Your company continues to support farmers education for improvement inyield and income on a sustainable basis. Your company has placed its faith in the Indianfarmers particularly in the castor seed growing regions of Gujarat and Rajasthan toincrease castor seed availability in a meaningful way. It has been our endeavor to supportthe efforts of the farmers by providing them a market for their produce.
Your company has been focused on its CSR initiative. The project"Pragati" was conceptualized by Arkema BASF Jayant AgroOrganics Ltd. andSolidaridad five years ago. The project "Pragati" which is a first-of-its-kind initiative globally has also resulted in developing a sustainable castor frameworktitled 'SuCCESS' (Sustainable Castor Caring for Environmental & Social Standards).By the end of the 5th year the project has covered over 7500 farmers and 13000 hectaresof land resulting in a certified castor seed production of 36000 MT. We believe that theproject "Pragati" has sowed the seeds of sustainability for the industry.
The work is now taken up by a not for profit organisation "TheSustainable Castor Association" promoted by Arkema BASF Jayant Agro-Organics Ltdand the NGO Solid arid ad. The m em bership for the organisation is now open to others inthe castor industry. I am pleased to say that leading companies of the world aresupporting this effort and the membership of the organisation is now in the double digitsand growing despite the limitations of the pandemic. The chosen path will benefit theenvironment the society the farmers and the industry and "The Sustainable CastorAssociation" is committed to it by evolving the best suitable standards andadvocating and enabling its adaption.
Your company has been in a non food non feed biodegradable renewablespace. It has always been conscious of environment and has adapted eco friendlytechnologies early. We are now creating a more focused framework in improving our ESG(Environment Social & Governance) awareness leading to formal and comprehensiveadaption of policies across the organisation.
Even though Covid -19 continues to constrain our normalcy as of nowthe goal of normalcy seems to be insight. Keeping this in mind your company continues toinvest in product development and capacities. Your company will be keeping a close watchon Covid situation and business environment.
Last but not the least I would like to thank all the staff members andthe workers who have kept the operations going during these trying times the governmentof the states and the centre and the doctors and health workers police and themunicipalities whose tireless efforts have resulted in containing the spread of the virusand the banking staff who have run the operations through out this pandemic withoutmissing a single day. I urge all the shareholders to stay safe and stay healthy.