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Jyothy Labs Ltd.

BSE: 532926 Sector: Consumer
NSE: JYOTHYLAB ISIN Code: INE668F01031
BSE 00:00 | 01 Dec 200.45 -2.50
(-1.23%)
OPEN

204.00

HIGH

204.00

LOW

200.05

NSE 00:00 | 01 Dec 201.05 -1.95
(-0.96%)
OPEN

203.10

HIGH

203.95

LOW

200.00

OPEN 204.00
PREVIOUS CLOSE 202.95
VOLUME 17337
52-Week high 208.20
52-Week low 130.00
P/E 38.77
Mkt Cap.(Rs cr) 7,361
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 204.00
CLOSE 202.95
VOLUME 17337
52-Week high 208.20
52-Week low 130.00
P/E 38.77
Mkt Cap.(Rs cr) 7,361
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Jyothy Labs Ltd. (JYOTHYLAB) - Chairman Speech

Company chairman speech

Dear Shareholders

I feel a strong sense of satisfaction looking at the way in which ourleadership has steered the organisation through these tough times since the start of theCOVID-19 pandemic. The event that plunged the world into a period of chaos and uncertaintycoincided with internal changes within the organisation's leadership structure indicatinga period of deep transformation both within and without.

During this period our single point of focus has been our strongcommitment to our people and our desire to serve the consumers. On both fronts I am happyto report that we have come through. While our business may have been impacted byprevalent global economic uncertainty it is showing strong signs of a rebound in the formof growing market share and growing consumer loyalty.

The new leadership has posted an exemplary performance focussed onprotecting the interests of all our key stakeholders and extending support whereverneeded. They have delivered on the Company's strategic priorities to reach out to a widersegment of consumers across categories and geographies and accelerated our embrace ofdigital transformation as an FMCG player growing in the 21st century. Along the way theyhave succeeded in taking care of our people.

I commend our people and our teams for their belief in the ability ofour leadership and for supporting them all the way through. Thank you for your unwaveringdedication and commitment which has served as the basis of our growth throughout ourvalue creation journey at Jyothy Labs.

I find extreme gratification in the entire length and breadth of ourlong-standing relationships within our partner ecosystem and the way they have cometogether to support our business in these challenging times. Going forward we hope tostrengthen our value proposition for each of our key stakeholders.

I am prouder than ever to belong to this family that is foreverconscious of every need of our consumers and all our stakeholders. Our research andinnovation teams continue to closely observe the changes in the lifestyles of ourconsumers with the aim to meet their needs that go unexpressed. It led us to factor in theburden of rising inflation on household budgets and adopt appropriate substitutes as rawmaterials while ensuring the quality of our products remains untouched. We continue to tryour level best to limit the impact of the rise in prices on the wallet of our consumer.

Looking back I can say this with absolute certainty that the roots ofthis organisation are stronger than they have ever been. The values have been imbibed in away that is tangible in the results we have driven and the outcomes we have produced.

There is perhaps no better way to describe the journey we haveundertaken at Jyothy Labs through the past two years of pandemic-led uncertainty than tosay 'tough times don't last; tough people do'.

As we emerge on the other side of this most difficult time I can saywith complete conviction that the organisation in which you have bestowed your truststands toughened and strengthened by the challenges it has faced. It is also much moreagile than ever before.

While the past two years will be seen as highly uncertain and volatileit is during this time that we took certain major strides to strategically positionourselves for market leadership in the future. Today we are focussed on making a rapidand sustained economic recovery both as a nation as well as an organisation.

I would on behalf of all our people like to offer my prayers andsympathies to all those who suffered a loss of life or faced poor health due to thepandemic and wish them a much better future in the coming years. I would also like toconvey my gratitude to those who stood with us in these times and helped us to deliver onour commitments to all our stakeholders especially our consumers.

On behalf of the entire Board of Directors I would like to express oursincere gratitude to my friend and colleague Mr. Ullas Kamath for his invaluablecontributions to Jyothy Labs. We deeply value his exemplary services of over 30 years withyour Company and acknowledge how his visionary leadership has helped Jyothy Labs to becomea formidable name in the Indian FMCG Industry.

A few months ago Mr. Kamath had requested the Company to allow him tostep down from his employment and Board responsibilities and not to consider hisre-appointment as the Joint Managing Director since he wishes to explore how he can usehis considerable experience and knowledge to contribute to the society at large.

Accordingly he has ceased to be the Joint Managing Director member ofthe Board of Directors and its Committees with effect from January 22 2022.

On behalf of all of us we wish him and his family the best of luckgood health and abundant happiness.

Our work is centred on creating long-term value for our keystakeholders an aim to which we remain strongly committed. Our annual report celebratesour vision for the business as well as to apprise you how we are balancing the risks weface without compromising on our growth agenda.

A review of our performance during the year

This year two challenges had a disproportionate impact on our industryas a whole. Besides the overall drop in consumer demand due to economic uncertainty andintermittent lockdowns global supply chain disruptions resulted in an unprecedented risein commodity prices and raising input costs.

At Jyothy Labs our years of investment into agile systems of work andtechnologies aimed at digital transformation bore fruit. Our teams proactively moved tosecure our value chain from manufacturing to distribution with a view to ensure that ourproducts remained consistently present on the shelves. We made sure our products wereavailable.

Our research teams were ready with a range of substitutes for the rawmaterials that faced difficulty in sourcing while taking utmost care to uphold ourconsumers' expectations of quality. We ensured an assurance of quality.

Together these moves helped to curb the impact of the sudden andunprecedented price rise. We made sure our products remained accessible.

Consumers have always appreciated our efforts to offer high-qualityproducts while maintaining attractive price levels. We are proud to have successfullyfulfilled our core purpose at Jyothy Labs which is to "Better Lives".

The way forward

We believe the challenges will persist with the international situationoffering no respite.

To deal with this we have come together closer than ever byeliminating silos and automating all the functions that we can. We are constantly seekingmore innovative solutions to enhance our products.

We are marching ahead with technology adoption wherever possible inorder to improve our efficiencies while upskilling more of our people to work with newtechnologies.

We are as always looking to leverage our advantages as a homegrownbrand that is 'Made in India and Made for India' by engaging more closely with ourconsumers.

In conclusion

I am happy to reassure you that the values that inspired the previousgeneration of stalwarts at your Company continue to drive the next generation of itsleaders. On behalf of all of us I thank all our key stakeholders for their support andthe foundational leadership of our Chairman Emeritus Mr. M P Ramachandran sir.

At Jyothy Labs today we consider it our privilege to be able to standwith our consumer strongly by their side. Equally proudly we stand in support of ourpeople. We are sure that in navigating these tough times we will continue to standtogether and grow together.

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