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Sita Shree Food Products Ltd.

BSE: 532961 Sector: Agri and agri inputs
NSE: SITASHREE ISIN Code: INE686I01011
BSE 00:00 | 03 Feb 0.39 0
(0.00%)
OPEN

0.39

HIGH

0.39

LOW

0.39

NSE 05:30 | 01 Jan Sita Shree Food Products Ltd
OPEN 0.39
PREVIOUS CLOSE 0.39
VOLUME 300
52-Week high 0.80
52-Week low 0.39
P/E
Mkt Cap.(Rs cr) 1
Buy Price 0.39
Buy Qty 4.00
Sell Price 0.39
Sell Qty 1300.00
OPEN 0.39
CLOSE 0.39
VOLUME 300
52-Week high 0.80
52-Week low 0.39
P/E
Mkt Cap.(Rs cr) 1
Buy Price 0.39
Buy Qty 4.00
Sell Price 0.39
Sell Qty 1300.00

Sita Shree Food Products Ltd. (SITASHREE) - Chairman Speech

Company chairman speech

Dear Shareowners

The year under review (2014-15) was characterized by slow growth across the globe.Europe was under severe recession and quantitative easing (QE) as deployed by the CentralBank has impacted the EURO and it was traded at multi-year low against US$. The strongerUS economy was the only positive point and US$ strengthened against most emerging marketcurrencies. Commodity prices declined across the board with crude oil declined the most.The decline in crude oil prices has helped the emerging market economies especiallyIndia. In India the inflation has eased as compared to the previous financial year(2013-14). Current account deficit have also improved due to the falling crude prices. Itis expected that Indian Economy will have robust growth in 2015-16 (as per World Bankreport). According to Food and Agriculture Organizations of United Nations report i.e.Food Outlook on May 2015 India is third in production of wheat and Global foodconsumption of wheat is set to reach 489 million tonnes in 2015-16 up 0.9 percent fromthe current season.

Despite the fact that Indian economy was witnessing a slowdown in the year 2014-15your Company delivered healthy results. Our domestic business grew by 5.89% underlyingvolume growth which was ahead of the market and international market by 64.8%. In ourendeavour to serve the consumers in the farthest corners of India we have also expandedour direct retail reach and strengthened in store execution. Profit before interest andtax (PBIT) grew by 90.88% and PAT for this year is Rs. 246.08 Lacs. We work to create abetter future everyday with brands and services to make people feel good healthy and getmore out of life.

We are today not just manufacturing products but ensuring health and wellness of thepeople. These two factors are shaping up the current consumer sentiments and preferences.All this has been possible because we have strengthened our internal controls. To fulfillthese objectives we have started fortification of wheat flour and oil with vitamins.

Our first priority is to our consumers- then customers employees suppliers andcommunities. When we fulfill our responsibilities to them we believe that ourshareholders will be rewarded. We follow a culture of continuously upgrading best practicein corporate governance and management quality.

You are well aware that Govt. of India and Govt. of M.P. has focused on agro- basedindustries/ food processing industries & making all our efforts to increase foodprocessing units. While growing our business we will increase our positive social impact.We will also grow by increasing market share and building markets everywhere.

Sita Shree Food Products Limited is one of the leading fast- moving consumer goodscompanies in India. We own brands like Sita Shree Gold and Natural Harvest.

Hon'ble High court of Madhya Pradesh bench at Indore has approved the Scheme ofAmalgamation of M/s GG Real Estate Private Limited (100% subsidiary) with the Companyunder section 391-394 of the Companies Act 1956. This integration leads to increase inthe business avenues of the Company as the Company can now carry on the Business of M/s.GG Real Estate Private Limited on its own. By the consolidation of the business operationsby way of amalgamation would lead to more efficient utilization of capital greaterefficiency in deployment of cash-flow generated by combined business & benefits ofoperational synergies and cost savings thus creating a stronger base for future growth.

Your company has in all spheres of its activities adequate checks and balances toensure protection of interest of all stakeholders and endeavours to share with all itsstakeholders openly and transparently all information on matters which have a bearing ontheir economic and reputational interest. This calls for a great degree of judgement anddiscretion so as not to put business and commercial interest of the Company at risk.

I would like to thank you all our shareowners for your trust and your wholeheartedsupport.

Best Regards

Dinesh Agrawal

Chairman