During the Financial Year 2019-20 in spite of prevailing challenges your Company hasdelivered improved operational and financial results due to the continued support of allits stakeholders.
The Company operated and ran all the plants with an optimal product mix of SugarEthanol and Power as part of its continued focus on diversification towards alliedproducts. Over time your Company has emphasized looking at the composite value of thesugarcane being supplied to us by our partner farmers as the way forward towards asustainable business proposition.^ addition we have continued our emphasis onmanufacturing best-in-class sugar and other consumer products and expanding our pan- Indiasales and distribution network to increase share holder value.
Through its continued emphasis on efficient operations your Company achieved bettersugar yields during the sugar season 2019-20 at all three sugar plants as compared to theprevious year. All three distilleries have shown steady growth in terms of ethanolproduction in comparison to last year as well. In addition we have enhanced the workingcapacity of one of our distilleries as well to further boost production.
Recently the Company has also launched its range of Trust Hand Sanitizers to help thenation especially its rural districts to combat the COVID - 19 Pandemic. It was a matterof great pride for all of us that within a week of the Lockdown the Company's scientistsengineers and production experts came together to develop the range of hand sanitizersthat was supplied to various Government institutions and offices as well as distributedthrough our extended retail distribution network.
The spread of COVID-19 pandemic worldwide and resultant nation wide lockdown had causeddisruption of supply chain across businesses and industries in India. However since theCompany is engaged in the manufacturing of essential commodities timely steps taken bythe government had ensured regular operations of the sugar mills in the state of UttarPradesh. The COVID-19 pandemic has obviously impacted the institutional demand for sugaralong with demand for sugar in the travel and hospitality sector but we expect that itwill gradually and steadily pick up again as the nation continues to successfully combatthe pandemic.
One of the key measures announced by the Government of India has been to leverage thesugarcane surplus in the country as a resource to meet the energy needs of the nation.Accordingly it has pushed forward a bold policy encouraging the diversion of sugarcanejuice and B-Heavy molasses to make green fuel for the country. The Government has revisedthe ethanol prices upwards for the supply to Oil Marketing Companies (OMCs). Such policymeasures will be helpful for achieving the ethanol blending program targets set by theGovernment of India to meet the fuel demands of the country through domestic sources suchas ethanol. This could also herald a significant transformation of the Sugar Industry withsignificant benefits accruing especially to the rural economy of India.
In the current sugar season 2020-21 though Indian sugarcane harvesting might getaffected amid the pandemic situation prevailing in the country the Company has focused oncontinuing to work closely with the thousands of farmers who rely on your Company fortheir sustenance and livelihoods. We have further stepped up efforts towards better canedevelopment and farm management through adoption of techniques such as intercroppingconservation of energy and water resources through drip irrigation waste-watermanagement and rain-water harvesting. We hope that these efforts will continue to bearfruit in the coming seasons.
As you know the Company has over the last decade also launched and developed variousconsumer brands with a focus on quality and innovation across the staples food andbeverages category. In addition to the flagship brand Trust' the portfolio hasexpanded considerably to include popular brands such as Sunehra and G-Low as well. Goingforward your Company plans to also make continuous efforts towards development ofconsumer-centric products in response to changing consumer needs. The Company shall givemore emphasis on new channels of distribution such as online market placesdirect-to-consumer and expanded rural distribution. As part of our effort to emerge as aconsumer-centric organization the Company has initiated e-commerce functionality throughour revamped website to make its FMCG products available to the door step of thecustomers.
Finally I wish to thank to our team of employees farmers all the lenders associatedvendors as well as the shareholders investors state administration and many otherstakeholders who have all reposed faith and shown confidence in the Company's Managementduring this unprecedented situation. With your support we are determined to move aheadand take the Company towards greater heights and leadership in the industry.
Please stay safe and keep your families and loved ones safe.
With Best Wishes
| ||Gurmit Singh Mann |
|Place: Dharamshala ||Chairperson |
|Date: Nov 24 2020 ||(DIN - 00066653) |