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Madhya Bharat Agro Products Ltd.

BSE: 538370 Sector: Agri and agri inputs
NSE: MBAPL ISIN Code: INE900L01010
BSE 05:30 | 01 Jan Madhya Bharat Agro Products Ltd
NSE 00:00 | 20 May 620.55 1.65
(0.27%)
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Madhya Bharat Agro Products Ltd. (MBAPL) - Chairman Speech

Company chairman speech

Dear Shareholders

The year 2020-21 has been challenging for each one of us. The Covid-19 pandemic had asignificant impact on lives livelihoods economy and business. Operational challengesmounted due to restricted movement and disrupted supply lines during the first few monthsof the year and again erupted in the later part of the FY. As the second wave of thepandemic unfolds with predictions of a third wave in the offing our focus continues to beon our people's health & safety ensuring uninterrupted supplies of fertilizer meetingthe demand.

The commitment and dedication of every member of the Company together with industrialenvironment created by Govt for ensuring uninterrupted industrial output helped us toovercome many challenges in the past year. As a result we have reported a turnover of Rs.185.71 Crore growing by 41.91 % over last Financial Year and similarly Profit after tax atRs. 20.24 Crore crores was up 36.42%. Quantity wise also we recorded a sale of 195163.51MT of various products up by 26.67%. I am happy to report that OSTWAL Group's marketshare as a whole has reached to 3rd position in SSP in India. We managed Covid-19challenges well and sustained strong cash generation. The Board of Directors has proposeda final dividend of Rs. 0.50 per share subject to approval of shareholders at the AGM.

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.

Your company is also focusing on several growth opportunities in its business segmentsto improve the top as well as bottom line. The ongoing DAP/NPK Complex Fertilizer projectenvisaged in the year 2019 has since been completed without any cost overrun andcommercial production has since started from 17 May 2021 after getting authorization fromRegulatory authorities. The impact of this expansion /diversification will be visible tosome extent in the current FY 21-22 and fully visible in FY 22-23.

At the same time our social contribution through renowned NGOs and other variousTrusts has helped us to focus on a wide array of areas such as health education Food forneedy and basic infrastructure among others. We take pride in positively havinginfluenced many people's lives through our initiatives.

We are consistent and firm on the basic principles and strategies we use to build thiscompany; from conducting our business responsibly to better Governance practices withsustainability and core values as our foundation. We shall continue to grow our businessand contribute to India's growth story. We are happy to serve our customers develop ourpartners and uplift communities in and around our areas of business. I am moved by thechallenges we have overcome and proud of our resolve to serve our stakeholders. With thisI would like to thank all our customers bankers financial institutions industryassociations suppliers vendors partners shareholders and investors and moreparticularly our staff and workers for their continued support partnership and invaluablecontribution in these difficult times.

Thank you

Yours sincerely

Sd/-

Mahendra Kumar Ostwal

(Chairman)

.