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Sarveshwar Foods Ltd.

BSE: 535054 Sector: Agri and agri inputs
NSE: SARVESHWAR ISIN Code: INE324X01018
BSE 05:30 | 01 Jan Sarveshwar Foods Ltd
NSE 00:00 | 29 May 12.20 0.55
(4.72%)
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Sarveshwar Foods Ltd. (SARVESHWAR) - Chairman Speech

Company chairman speech

Dear Shareholders

On behest of Sarveshwar Foods Limited it gives me great pride to share your Companiescomprehensive performance during the Financial Year 2018-19. Your continuous belief incompany's management and the unstinting support and fair criticism based on data andfacts are what gives us vitality and fervor to strive betterment. I would like to startwith a brief overview of the strategy and performance of your company and make somecomments on the macro environment in which we operate. First we strive to operate ourbusiness with a sharp focus on prosperous cultivation producing profitable tonnes andpursuing sustainable cost improvements. The company has been dynamic and rigorous duringthe year a season of diversity which included the introduction of a new operating modelto strengthen our internal capabilities. Second we seek to create further value byworking on opportunities which are pertinent to our existing business model. Thirdly welook beyond our core business for other growth opportunities to develop our portfoliobased on profitable returns.

We have not only dynamically evolved from an established rice brand in its arena to anemerging global food company but we also diversified our portfolio to Organic Productsunder the brand "Nimbark" which comprise of products such as Superfoods DryFruits Cereals Pulses Spices etc. The products are grown in the foothills of Himalayaswithout the use of chemicals. and are irrigated by pure water of the river Chenab.Sarveshwar has also carved its way into the international markets with it incorporatingLimited Liability Company in the United States of America under the name "HimalayanOrganic Farms LLC and Himalayan Bio Organic Farms LLC".

To move further on the business front things seem to be far more simple on paper butthey aren't as simplified and effortless on the grass root level the business is affectedby a numerous factors which could comprise of operational environmental socialtechnological and financial hitches. But with the appropriate people and partners we staydetermined and overcome all the obstacles with the right mindset and effective planning.

On a consolidated basis the total revenue from operations has grown by 18.31% to INR570Cr from INR 482 Cr in FY 18. Profit before tax has increased year on year by 7.73%to INR 23.42 Cr from INR 21.74 Cr. Profit after taxes have grown considerably by 9.62%from INR 18.11 Cr in FY 19 to INR 16.53Cr in FY18.

The steady performance combined with the Board's assessment and strategizing of thecompany's cash requirements allowed us to increase our profits to Rs. 18.11 cr.

Our motto is and will always be to work together to ensure sustainability reliabilityand stability of our operations and enable all our stakeholders to thrive and prosper andalongside inculcate 360 good karma. A wonderful monologue by Hudson Taylor would sufficethe belief and motto of your Company "God's work done in God's way will never lackGod's supply." This wonderful saying sums up our intention in one simple line.Further I would also like to take this opportunity to thank all our employees andstakeholders that work across the Group whose contribution has us to reach this juncture.