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Prabhat Dairy Ltd.

BSE: 539351 Sector: Agri and agri inputs
NSE: PRABHAT ISIN Code: INE302M01033
BSE 00:00 | 22 Apr Prabhat Dairy Ltd
NSE 05:30 | 01 Jan Prabhat Dairy Ltd
OPEN 99.05
PREVIOUS CLOSE 99.75
VOLUME 2942
52-Week high 99.95
52-Week low 48.40
P/E
Mkt Cap.(Rs cr) 974
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 99.05
CLOSE 99.75
VOLUME 2942
52-Week high 99.95
52-Week low 48.40
P/E
Mkt Cap.(Rs cr) 974
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Prabhat Dairy Ltd. (PRABHAT) - Chairman Speech

Company chairman speech

 

Dear Shareholders

Prabhat continues to move ahead in its transition journey from a dairyproducts manufacturer to an entity that meets the needs of dairy farmers through cattlefeed solutions and animal husbandry services it is my pleasure to present the AnnualReport of our Company for the financial year 2019-20.

The external environment has been challenging on several fronts duringthe year under review. With our products and services serving India's farming community asubdued 2.9% growth by agriculture and allied sectors in FY 2019-20 thereby impactingfarmers' income particularly dampened the demand for our offerings. The onset of theCOVID-19 pandemic in March further disrupted our operations as the health crisis dippedmilk prices. This resulted in reduced cash flow for milk-producing farmers withramifications on the demand for cattle feed. With gradual normalization of the economyour business activities have been stepped up and streamlined while adhering to strictsafety measures.

At Prabhat we bring to the forefront two decades of experience andexpertise in the dairy sector.

By leveraging our deep domain knowledge and strong farmerrelationships our focus is to empower the farming community through high-quality productsand advanced solutions. An important development in this regard is the launch of our CalfNutrition Project. This is a breed development and nutrition program in partnership witharound 10000 farmers. These farmers will be extended full support for producing highermilk-yielding milch animals with the help of high-quality artificial pro-farmerinitiatives including Pradhan Mantri Kisan Maan Dhan Yojana (PM-KMY) and Direct CashBenefit Transfer. The recently undertaken landmark agricultural reforms freeing farmersfrom the restrictions on sale of their produce also have the potential to catalyze thesector and boost the rural economy. Together these targeted measures should incentivizethe demand for agricultural inputs including animal nutrition products.

Notwithstanding the long-term fundamentals the year ahead is unlikelyto be business as usual.

With overall indications that economic insemination services andbalanced cattle nutrition through TMR (Total Mixed Ration) products. Spread over threeyears the project has escalated our current expenditure due to spends on cattle breedingand nutrition.

The returns will start yielding in the second phase as such projectstake time for realizing an outcome.

The growing importance of the livestock industry within the agricultureeco-system and the increasing demand for better quality dairy products and meat driven byrising per-capita income augur well for the growth of the animal feed industry. Alignedwith the focus on enhancing the lives of farmers the government has consistentlyimplemented several growth will remain muted and the operating environment uncertain wewill be navigating challenging times. Amidst this turbulent period our focus will be ondrawing upon our experience to respond with alacrity to the evolving situation and stayresilient.

I would like to end by thanking all our employees for their continuedhard work to the farmers for placing their trust in us and our products and all otherstakeholders for their patience and support during this period of transition. Wish you allgood health.

Regards
Sarangdhar R. Nirmal
Chairman & Managing Director

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