At Prataap Snacks we have always endeavoured for our products to standfor taste quality and value. We also aim to delight our customers with innovativepackaging interesting shapes and exciting toys.
Fiscal 2017-18 was a memorable milestone in our journey as wetransformed into a public listed company in the month of October 2017. Our journeyemanates from our larger vision to be amongst the defining snack food companies of thisgeneration delighting our consumers with a delectable range of products and in theprocess create long-term value for all our stakeholders.
I believe that the Indian snack industry is poised for a sustainedphase of growth and expansion. With strong tailwinds like growing affluent middle-classincrease in absolute population of youth and children as well as increasing per capita spendon food; the Indian snack industry is in the fast-growth lane. The implementation of theGoods and Services Act (GST) will particularly favour the organised snackbusinesses. I am confident that the contribution of the organised snack marketwhich is currently around 40% of the total ` 550 billion Indian snack market willincrease substantially in the next few years.
At Prataap Snacks we have always endeavoured for our products to standfor taste quality and value. We also aim to delight our consumers with innovativepackaging interesting shapes and exciting toys. Multiple pack sizes and an unstintedfocus on reaching all parts of the country from urban and metro cities to smallertowns and rural areas has also made it possible to provide access to consumers ofvaried backgrounds. We have always strived to leverage our deep understanding ofthe Indian snack market to offer greatest value to our consumers and it is thisfocus on value that has made us stand apart from others.
Another key pillar at Prataap Snacks has been our uncompromisingfocus on ethics transparency and governance. We have never lost sight of the fact thatwhile profitability is important purpose is paramount; while costs are important qualityis crucial; while results are important responsibility is imperative. That is why evenas we continue to grow at a fast pace we have ensured strict compliance and governance atevery level. It is this over-arching framework of governance and values as well assystems and processes that sustains the value we create.
With the successful IPO I am confident we are at the cusp ofthe next growth phase. Our aspiration is to become a leading pan-India player inthe Indian snack market. We are focussing on achieving this as we multiply ourpresence across the country.
As a responsible corporate citizen we have always followedenvironmental regulations and norms. Both at our manufacturing plants as well asour offices we continue to shift towards green technology and processes with aview to minimise wastage and optimise resource intensity. We strongly believe to generatereturns not only by wealth creation alone but also by giving back to the society. It isour strong belief that by pursuing economic objectives in a manner that serveslarger societal purpose we make our growth more enduring and sustainable.
Finally I would like to reiterate our commitment to continue creatinglong-term stakeholder value. Since inception we have focussed on generating value for ourconsumers our partners our employees as well as our investors. We have shared oursuccess with the society and communities through our CSR interventions. As we grow weshall continue with our multi-stakeholder value focus.
I thank you all for your continued trust and support and assure you wewill continue to move ahead with more velocity venture and vigour.
Chairman and Executive Director