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KRBL Ltd.

BSE: 530813 Sector: Agri and agri inputs
NSE: KRBL ISIN Code: INE001B01026
BSE 12:39 | 11 Dec 291.15 5.70
(2.00%)
OPEN

277.25

HIGH

291.15

LOW

277.25

NSE 12:29 | 11 Dec 290.10 2.80
(0.97%)
OPEN

280.00

HIGH

290.35

LOW

279.35

OPEN 277.25
PREVIOUS CLOSE 285.45
VOLUME 3261
52-Week high 673.00
52-Week low 277.25
P/E 14.34
Mkt Cap.(Rs cr) 6,854
Buy Price 291.35
Buy Qty 141.00
Sell Price 292.00
Sell Qty 1.00
OPEN 277.25
CLOSE 285.45
VOLUME 3261
52-Week high 673.00
52-Week low 277.25
P/E 14.34
Mkt Cap.(Rs cr) 6,854
Buy Price 291.35
Buy Qty 141.00
Sell Price 292.00
Sell Qty 1.00

KRBL Ltd. (KRBL) - Chairman Speech

Company chairman speech

KRBL LIMITED ANNUAL REPORT 2003-2004 CHAIRMAN'S REPORT Dear Shareholder, The current fiscal has proved to be a watershed year for your company. The year saw KRBL acquire the, world's largest, fully integrated rice milling plant. Purchased for a sum of Rs. 16 crores in an open auction, KRBL is investing around Rs. 100 crores in two phases to refurbish it. The plant is expected to become fully operational by March, 2005. Located at Dhuri, Punjab, this plant will significantly add size and muscle to our operations; and immense value to our turn over and profitability margins in the years to come. With the Dhuri acquisition, our milling capacity will jump four fold to 167.5 MT/hour; our product basket will grow to include high margin and high value products like rice bran oil, furfural and de-oiled cakes. Plus, we will be in a position to generate 10.5 MW of power using husk at very low cost. For the year under review, turnover has dipped because of a sharp drop in the availability of non-Basmati rice, which is controlled and regulated by Food Corporation of India. But in the Basmati segment - our core strength - we have notched an impressive 21 percent increase in basmati exports. Cash profit before tax has improved by 3 percent. Despite a global squeeze on prices, uncertainty of foreign exchange rates and vagaries of the agricultural business cycle, the basic fiscal health of your company continues to remain sound. The recent move by reputed Saudi nationals to pick up a 16.70 percent equity stake in KRBL (valued at US$ 5.90 million) is a strong vote of confidence by international investors in your company and its brands. Our marketing partnership with Omar Ali Balsharaf, Saudi Arabia's leading super market chain has reinforced our position in the Middle East-the largest Basmati market in the world In India, our brands continue to make huge inroads into the highly competitive markets. Despite intense competition and the prevalence of a large commodity market, India Gate and Doon continue to achieve salience and build brand equity. In other quality / price segments too, Nur Jahan, Bemisal and Aarati are gaining ground. KRBL continues to work closely with farmers in improving pre-harvest and post-harvest practices. We are researching new seed variants; and are in the process of extending the area under contract farming from the present 87,000 acres to 2,00,000 acres in the next three years. Looking ahead, KRBL will consolidate its position as the world's largest Basmati exporter; diversify into highly profitable, rice by-products; create close partnerships with farmers, invest in contract farming, and build enduring brands in India and abroad. Central to our success will remain the commitment and expertise of our people and business partners. I sincerely thank them and all other stakeholders for their continued support. Anil Kumar Mittal Chairman & Managing Director