It is my privilege to present the 33rd Annual Report of your Company for FY2018-19.
Besides completion of 35 years of glorious journey the year also coincided with SilverJubilee year of Praj's listing on the stock exchange. I would like to gratefullyacknowledge your continued patronage and encouragement throughout this enthrallingjourney.
To combat evils of climate change nations are working towards sustainable low carboneconomy. By developing innovative decarbonization solutions using Circular bio economyYour Company is playing a very crucial role in this regard. Circular bio economy impliesprocessing biological resources for value creation by way of renewable energy andproducts and whilst in use recover and regenerate products as well as materials at theend of service life.
Our vision is expected to result in threefold benefits viz. environmental economic andsocial. It reduces carbon footprints contributes to economic growth productivity andcompetitiveness of the country. As for society circular bio economy plays an importantrole by boosting rural economy by way of job creation and additional income source forfarmers.
I am pleased to share that Your Company's endeavors in bio industrial space havereceived a global recognition by way of 8th rank from last year's 34th in thelist of "Hottest 50 companies in the Advanced Bio Economy 2019" as released byindustry's leading publication "Biofuels Digest" USA.
Praj's state-of-the-art 'Innovation Centre'- Praj Matrix successfully completed 10years of operations. Over the past decade Praj Matrix has developed and commercializedfuturistic technology solutions that have helped your Company to maintain its leadershipposition in the bioenergy space. With renewable chemicals gaining increasing acceptanceglobally especially in packaging cosmetic furniture industry among others ourscientists at Praj Matrix are striving hard to introduce new molecules and enhancingtechno-commercial feasibility for increased usage of renewable chemicals.
Your Company continues its R&D endeavors towards improving commercial viability of2nd generation smart integrated bio refinery. This bio refinery has capabilityto process various feedstocks such as Rice (paddy) Straw
Wheat Straw Corn Cobs & Corn Stover Sugar Cane bagasse & Cane trash Cottonstalk etc. to produce multiple products viz. Bio-ethanol Compressed Bio Gas Biofertilizer and variety of Biochemicals etc.
For the flagship bioenergy business this has been an eventful year as it witnessedvarious favorable steps by Government of India in terms of new policies. The industry isshowing buoyancy as we see increasing number of enquiries.
This year in line with GOI's initiative SATAT your Company expanded its bio-energybasket by adding Compressed Bio Gas (CBG) technology solution that uses biomass anddifferent agri waste as feedstock. CBG is poised to play a key role in greenhouse gas(GHG) reductions in addition to facilitating India's pursuits for energy self-reliance. Weexpect the new Government will not only continue these policies but also step up themfurther.
Outlook for Engineering and High Purity business segments is promising. Thesebusinesses have entered newer customer segments and geographies. With strong focus oncollaboration your Company has secured preferred partner status with leading technologylicensors and global EPC companies.
While closing I wish to reiterate that Your Company will continue to relentlesslyfocus on creating and delivering value for customers to capitalize on the opportunitiesboth in domestic and international markets.
Your Company is leapfrogging to make significant contribution towards opportunities ofnew India.
I remain confident of your continued support in realizing company's vision of makingthe world a better place.