Our planet is home to 7.2 billion people; and the population is expected to touch 9.3billion by 2050. The result is a growing demand for food. Therefore the critical need forIndia is to enhance the use of high-yielding quality seeds to increase productivity. Theseare dynamic and changing times in the history of Indian agriculture as the country movestowards yet another agricultural Revolution coined the 'Evergreen revolution' to addressthe challenges
faced by the sector and the farmers. Our Hon'ble Prime Minister Mr. Narendra Modi hasthe vision of making farmers the central focus of this 'Evergreen Revolution' with theclear objective of doubling the farmers' income by 2022.
As we all gear up towards this agenda there is one major challenge - the area undercrop cultivation continues to decrease. However the constant depletion of arable landacross the world will put added pressure on countries to raise their production of foodcrops. On the other hand farm acreage remains stagnant as expanding farmlands carry highenvironmental risks posed by the conversion of forests into agricultural lands.Responding to queries in the Parliament the Union government has stated that cultivableland in the country is decreasing by 30000 hectares each year. This has been attributedto diversions for non-agricultural purposes such as urbanization roads industries andhousing. Though this decline seems marginal at this stage when put in perspective withour growing population the situation warrants close attention.
Besides as the government is rightly focused on moving away from the concept of 'foodsecurity' to 'nutrition security' the use of scientific and technological interventionbecomes imperative to develop crops that can enhance nutrition quotient while addressingthe challenge of our comparatively low productivity. New and advanced technologies likefarm sensors that facilitate real-time traceability and diagnosis of crop livestock andfarm machine use of genetic engineering tools soil health testing and improvementprecision farming automation of planting and harvesting and drip irrigation have alreadydone wonders to agriculture productivity in several countries. It is only through alarge-scale adoption of such technologies that we can help to usher in an EvergreenRevolution.
We reported a net sales of Rs. 30.35 Crores in 2017-18 compared to Rs. 30.17 Crores
2016- 17. Simultaneously our EBIDTA increased to Rs. 4.79 Crores in 2017-18 vis-avisRs. 4.36 Crores in 2016-17. Our net profit stood at Rs. 3.34 Crores in 2017-18 against Rs.3.12 Crores in 2016-17 and our earnings per share stood at to Rs. 3.04 in
2017- 18 compared to Rs.5.98 in 2016-17 due to issue of bonus shares in the ratio of1:1.
We are happy that our innovative products and services have enabled the country'sfarmers to prosper. We will continue to invest in R&D to further improve andcontribute towards the betterment of farmers and growth of India's agriculture sector.
On behalf of my colleagues on the Board I would like to express my sincere gratitudeto all our customer employees suppliers business partners shareholders for being withus throughout this transformational journey. I would particularly like to thank all theemployees of Mangalam Seeds for their dedication hard work and commitment towards theCompany. We look forward to another successful year ahead with several new initiativesplanned.