I am pleased to present you the 23rd Annual Report of Madhya Bharat AgroProducts Limited for the Financial Year ended 31st March 2020.
This was the transformative year for your company as the company got migrated fromNational Stock Exchange SME Platform to Main Board of National Stock Exchange on 21stAugust 2019 which has added lot of liquidity to our shares.
In the financial year under review your company has seen growth in all aspects be itrevenue or profit. We have grown as a company. Your company has taken several pre-emptivemeasures at various operational levels to ensure sustainable reduction in the cost ofproduction with increased level of efficiency and output.
Now I would like to present the salient features of your Company's performance duringthe year 2019-20.
The revenues in current Financial Year stood at Rs. 13086.36 Lakhs recording a growthof 12.76% over last Financial Year and similarly the net profit of the Company in currentFinancial Year 2019-20 stood at Rs. 1483.75 Lakhs showing a growth of 29.78%.Profitability efficiency has shown considerable improvement during the year by recordingan EBDIT v/s sales ratio of 26.70% as compared to last year ratio of 25.60%
In nutshell; Madhya Bharat Agro Products Limited today is in a better position to takeanother jump and will always put in active efforts to improve upon the performance andkeep moving on the path of progress. All this have been achieved on the backdrop of aglobal economic slowdown. The prevailing economic scenario has brought about an atmosphereof uncertainty touching all major global economies.
Further I would like to mention that the Company is in the process to implementing66000 MTPA Triple Super Phosphate (TSP) plant along with the 62700 MTPA Sulphuric Acidplant in the existing unit in Madhya Pradesh. We are in advance stage of implementation ofthree units viz; Beneficiated Rock Phosphate (BRP) Phosphoric Acid (PAP) and TSP units ofTSP Projects. BRP and PAP units we expect to have trial run shortly. This expansion wouldhelp us in a big way in improving the top as well as bottom lines of the company in thecoming years
We intend to build on this premise base and have set for ourselves new targets andembark on our growth journey with the view of maximizing every opportunity. At the sametime we are building our capabilities by fine tuning our processes to improve overallability to deliver on our promises.
I also take the pleasure of announcing that your Board of Directors has recommended adividend payout of 5% amounting to Rs. 0.50 per share for the FY 2019-20.
Beyond business activities the Company has carried out various Corporate SocialResponsibility (CSR) programs. The movement aims of Corporate Social Responsibility (CSR)to creating better living standards and environment for people within and around theorganization. It aspires to create better future for local communities.
At the end of the year with the heightening of COVID 19 pandemic the internationalscenario has been gloomy. The emerging COVID 19 pandemic and worldwide slowdown this havekept all economies affected this lead to a shrinking consumer demand globally. Howeverour product being used by agricultural sector we do not for see any slowdown and the sameis evident from the performance post COVID-19.
I would like to extend my heartfelt thanks and appreciation to the Board and all theemployees for their strong teamwork and dedication in working with a shared vision andharmonious steps along with the Management of the Company. On top of it a big Thank you toour shareholders for continued confidence in the Company. Likewise to all our customersbankers financial institutions industry associations suppliers vendors and otherstakeholders who have been instrumental and contributed to the Company's evolution overthe years.
At the end I say that we continue to invest in each of our operating businesses andequally important in social initiatives that benefit all stakeholders in order to build asustainable global enterprise. I thank you for your constant support and faith.
Mahendra Kumar Ostwal