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Oceanic Foods Ltd.

BSE: 540405 Sector: Agri and agri inputs
NSE: N.A. ISIN Code: INE711V01010
BSE 12:56 | 25 May 50.45 2.35
(4.89%)
OPEN

50.50

HIGH

50.50

LOW

45.70

NSE 05:30 | 01 Jan Oceanic Foods Ltd
OPEN 50.50
PREVIOUS CLOSE 48.10
VOLUME 4113
52-Week high 82.00
52-Week low 44.50
P/E 13.86
Mkt Cap.(Rs cr) 57
Buy Price 45.75
Buy Qty 58.00
Sell Price 50.45
Sell Qty 97.00
OPEN 50.50
CLOSE 48.10
VOLUME 4113
52-Week high 82.00
52-Week low 44.50
P/E 13.86
Mkt Cap.(Rs cr) 57
Buy Price 45.75
Buy Qty 58.00
Sell Price 50.45
Sell Qty 97.00

Oceanic Foods Ltd. (OCEANICFOODS) - Chairman Speech

Company chairman speech

Dear Members

Firstly with Grief profound we are extremely sad to share with our esteemed membersthe irreparable loss of the Founder Promoter Chairman Emeritus and the pillar of theCompany Late Shri Vinodrai Patel (Father of Ajesh and Tulan Patel) on the black day of26th May 2021 due to COVID-19. As you all Know the Second wave of COVID-19 hasaffected all of us in one way or the other my heart goes out for the families and friendsof all those who have lost their loved ones like us or are struggling with health issuesdue to this pandemic. The pandemic upended the Indian economy suspended businessactivities and brought about unprecedented slowdown across industries. A long and windingjourney was embarked with moments of glory and despair but Oceanic managed to not onlysurvive but thrive. We steered the tough environment by further fortifying our strengthsand leveraging newer opportunities. Besides protecting our current business base wegeared up to make the organization more efficient to take on the Short term Challenges.With pleasure we share with all company’s 28th (05th AnnualReport after it’s listing on the BSE Platform. I would take this opportunity to sharewith you the another challenging year 2020-21 which has truly been a year of manylearnings. Viewed in context of Challenges of the COVID-19 outbreak causing social andeconomic turbulence we were able to deliver a good performance and made a considerableprogress across business. Despite facing Multiple headwinds Oceanic delivered theperformance of crossing 100 Crores of Revenue from Net sales of Operations. Net Profit forthe F. Y 2020-21 stood at Rs 2.22 Crores. Covid-19 presented significant Challenges forour people and our business. To succeed in this uncertain and highly dynamic environmentwe need to be agile and seize opportunities in a very short time- frame. We quicklyadapted our business approach mobilized our teams to put in a strong effort despitelockdown restrictions besides leveraging technology and innovation to address thechanging environment and the emerging needs of our consumers. We established a strongpresence across the globe and stayed relevant to the Society at large. Oceanic hasestablished highest standards of Quality in its business since more than four decades.Oceanic has taken many initiatives of energy conservation green fuel and farmerupliftment. Oceanic continuously invest in Research and Development and drive innovationsto build Value added Products. At Oceanic We are committed to our mission of expandingour Business across the globe supply finest products and establish Long Term Mutuallybeneficial Relationships with our customers to promote Healthy Living. We recognize thatdoing business in a sustainable and responsible manner is integral to ensuring our futureviability. Value creation for all stakeholders underpins our business strategy and growth.Adding to that Overall Food market in India (FMCG) led the growth with a 15% surge withunderlying growth of 12.5% in the F. Y 2020-21. Government is promoting Food Industry withsubsidies and export incentives enabling policy environment fast clearances andregulations aligned with Global rules. Our endeavor to anticipate understand and respondto our Customers’ needs by creating high quality products and making them availablethrough innovative and convenient channels has helped us to grow to this stage. We haveembraced the right technology to delight our Customers at the same time advocating thebalancing of economic social and environmental aspects to create a better tomorrow.

The Strengthened performance that Oceanic reported in a COVID year comes from the highdegree of resilience that we built in our business through a series of consumer centricand tactical innovations coupled with investments in adding Capacity of our Portfolioproducts. Our Diversified portfolio helped us successfully navigate the unchartered watersof the pandemic and emerge stronger. As a member in the Board of the company andChairperson I have witnessed our company growing by achieving many strategic milestones.All thanks to the commitment passion and encouragement of our associates. On Behalf ofentire Board and Management Team of Oceanic I would like to express my sincere gratitudeto all our customers suppliers distributers Partners shareholders for being with us inthese uncertain times.

I would like to place on record my appreciation of entire Oceanic Family who have risento meet the challenges which this pandemic threw up over the year. I would also thank myFellow Directors for their valuable guidance and support to the business. I would like totake this opportunity to express my immense gratitude to all of our frontline warriorsPolice Personnel Doctors Health Workers and Sanitation workers for their efforts inkeeping all of us safe during these pandemic days. While we remember 2020-21 for thesignificant Challenges the year presented in the form of COVID-19 the fact remains thatthe pandemic is still far from over. With the emergence to Second wave and talks ofanother wave likely to come in near future we might have to cope with the relatedchallenges. We are confident that Oceanic is well positioned to meet the Challenges aheadand generated sustainable long term growth. Finally let me close by thanking all ourShareholders investors Business Associates Consumers for the trust and confidence theyplaced on us. We look forward for your support in our endeavour to continue deliveringvalue for all our stakeholders over the coming years.

Stay Healthy Stay Safe

Thank You

Sincerely yours

Ajesh Patel

Chairman & Wholetime Director

DIN:00083536.

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