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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 | 15 Feb 22.15 1.05
(4.98%)
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Sarveshwar Foods Ltd. (SARVESHWAR) - Chairman Speech

Company chairman speech

Dear Shareholders

It gives me great pleasure to share with you an update on the overall performance ofyour Company in 2017-18. The fiscal year gone has been an eventful year. The year underreview had a decent volume and profit growth given the macro-environment headwinds. Wewere able to achieve this as a result of an effective category choice making framework andthe strategic building blocks we have put in place - strengthening the core creating theportfolio for the future managing costs and investing in people and process capabilityahead of the growth curve.

After having been successfully listed on the National Stock Exchange - NSE E m erg ewe are s tri vi n g toward s increasing the presence of Sarveshwar in domestic andinternational markets.

Today we are evolving swiftly from being an established branded rice company to anemerging global Food Company with new strategic advancements and product developmentsunderway.

Maintaining leadership in our home market of Jammu and Kashmir we have furtherexpanded our domestic outreach by venturing into new states such as Delhi NCR AndhraPradesh Maharashtra Gujarat and cities such as Chennai etc.

We have approached these initiatives with great enthusiasm and as a consequence

we have had a very busy year. Your continued trust encouragement and support give usenergy enthusiasm confidence and motivation to strive for betterment. I believe thesewill continue to hold us in good stead in the long run.

Internationally we are seeing an increased demand for branded pure Basmati productsand are striving to cement ourselves in premium and remunerative international markets.

Ever since our inception our business practices have always been underlined by ourconsciousness towards the society and the environment. This philosophy is underlined byour latest initiative into the Organic Products sector.

As an organisation we have forged stronger ties with the farmer community. When othersfocussed on rigorous cost-control we spent on empowering the farmers with modernagriculture practices. We continued to focus on strengthening our partnership with thefarmers by undertaking welfare initiatives and to improve their economic well-being. Weinvested in state-of-the-art manufacturing and large scale warehousing facilities that areour assets today and our biggest strength for tomorrow. This has helped Sarveshwar FoodsLimited to maintain superior farm output and deliver consistent quality.

We diversified our business by increasing the share of branded organic and valueadded products. This has been supported by widening of distribution reach across India aswell as globally.

Brand "Sarveshwar" the backbone of our business has served to jumpstart theOrganic Products initiative under the brand name "Nimbark". Within our organicinitiative we have a broad range of products ranging from rice various cereals andpulses through to superfoods such as Quinoa flax seeds Chia Seeda etc. Our deep rootedefforts towards increasing and facilitating organic produce has borne fruits as we haveconverted over 22000 Acres of land from conventional farming to organic farmingpractices.

For Nimbark we are adopting various avenues for selling our products throughretailing distribution into modern and general trade and also through online channels.The brand and products are well accepted in the existing markets and the first threestores are equally well accepted by our valued customers with their response being quiteencouraging.

According to a report by the World of Organic Agriculture 2018 India is home to 30%of the total organic producers in the world but accounts for just 2.59% (1.5 millionhectares) of the total organic cultivation area of 57.8 million hectares. Therefore thereis boundless scope for growth within the Organic Products vertical in the future fromwhich we can expect to benefit in the long term.

Your Company's financial statements pose encouraging signs of the times to come ahead.

On a consolidated basis the total revenue from operations has grown by 15.31% to INR484 Cr from INR 420 Cr in FY17. EBITDA has grown by 13.90% to ~ INR 44.5 Cr from INR 39 Crin FY17. Profit before tax has increased year on year by ~ 23.38% to INR 21.74 Cr from INR17.62 Cr. Profit after taxes have grown considerably by ~ 29% from INR 12.81 Cr in FY17 toINR 16.52 Cr in FY18.

Extremely sanguine about the prospects of the company going forward we at Sarveshwarplan to be at the helm of the exciting and fruitful times to come ahead and hope that youwould join us in this journey!

We take this opportunity to express our gratitude & appreciation to all ourshareholders customers suppliers partners and employees for their continued trust andsupport. We look forward to the coming years as the momentum is expected to carry on withincreasing penetration of our brands; Sarveshwar and Nimbark are going to serve to thelarger base of our customers across the world as we move to establish ourselves globallyas an organic focused and value-added food processing organisation.