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Vidhi Specialty Food Ingredients Ltd.

BSE: 531717 Sector: Industrials
NSE: VIDHIING ISIN Code: INE632C01026
BSE 00:00 | 22 Oct 339.75 -0.35
(-0.10%)
OPEN

345.00

HIGH

354.85

LOW

333.85

NSE 00:00 | 22 Oct 338.90 -0.65
(-0.19%)
OPEN

342.00

HIGH

354.90

LOW

334.00

OPEN 345.00
PREVIOUS CLOSE 340.10
VOLUME 22538
52-Week high 415.90
52-Week low 112.50
P/E 39.10
Mkt Cap.(Rs cr) 1,695
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 345.00
CLOSE 340.10
VOLUME 22538
52-Week high 415.90
52-Week low 112.50
P/E 39.10
Mkt Cap.(Rs cr) 1,695
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Vidhi Specialty Food Ingredients Ltd. (VIDHIING) - Chairman Speech

Company chairman speech

Dear Shareholders

The financial year 2019-20 was a good year for 'Vidhi' even thoughCOVID-19 Pandemic grappled the world in the last month of the FY 2019-20. The Company hasachieved the comparable targets to last year level despite of the fact that our Companyhad temporarily suspended the manufacturing operations from last week of March 2020 tillfirst week of April 2020 in compliance of lockdown declared on March 232020 byGovernment of India. In addition to COVID-19 cyclone "Nisarga" also hit theCompany's manufacturing activities in the first week of June 2020 and damaged some of theassets and inventories of the Company. Since the Company's assets are insured adequatelyit has filed a claim for damages.

I am delighted to share with you all that the Company has earned netprofit after tax of Rs.3407.98 lakhs in FY 2019-20 which is the highest ever net profit inthe history of the Company and it is expected to grow every year. Even though there wasslight decline of 1.61% in top line but due to good operational efficiency there isconsiderable increase in bottom line by 17.29%.

In F.Y. 2019-20 the Company's performance with regard to the exportmanufacturing sales volumes improved to 80% of total sales from 76% of total sales inprevious year. Domestic manufacturing sales were 5% of the total sales of the Company.Further the EBITDA of the Company increased by 9.50% in the year 2019-20. Considering theimproved operational and financial performance your Company has declared two InterimDividend each of Rs. 0.20/- per equity share of Rs. 1/- each and one Interim Dividend ofRs.0.40/- per equity share of Rs 1/- each (totaling to Rs. 0.80/- per share i.e. 80%]during the financial year 2019-20 and also recommended a final dividend payment of Rs.0.20/- per equity share of Rs. 1/- each (i.e. 20%] for the financial year 2019-20.Further due to good liquidity position the Company was able to reduce its Debt by 22.50%and consequently there was reduction in finance cost and improvement in Debt-Equity ratio.

The FY 2020-21 is challenging year for the Company as the first quarterof the FY was went under lock down. However the Company is hopeful that the performanceof the Company in FY 2020-21 will be satisfactory as the Company was able to quicklyresume its manufacturing operation in the second week of April 2020 and we are able toserve the customers during this difficult time. Further the products which our Companymanufactures are used in food and Pharmaceutical Companies hence there is good demand ofthe Company's product.

You will be pleased to note that the Company made further progressduring the year in implementing planned key initiatives to better its performance.Manufacturing efficiency and capacity utilisation were improved and enhanced over theprevious year.

Success of any business can be possible if its employees and peopleswho put in persistent efforts to rise to their excellence level are taken together. Iwould like to iterate that your Company's employees are its valuable assets and it isentirely due to their hard works firmness commitment and dedication that your Companyhas been able to deliver sustainable growth and value creation. During this tuff time dueto COVID-19 the relation between Company and its employees/workers become stronger. TheManagement appreciate efforts taken by employees/workers during the lock down.

While we march ahead towards our business goals we also make consciousefforts towards making active contributions to society and environment. We have investedin adequate pollution control equipment's as we believe in sustainable environment. Ourregular contributions and initiatives towards uplifting several people in various aspectsare our humble endeavor to make our world a better place.

I would like to assure you that your Company will strive to capitalizeby remaining focused on operational excellence and to remain committed to deliver stronggrowth and enhance shareholders and other stakeholders' values in every possible ways.

We expect to keep performing and delivering sustainable growth goingforward with focus on profitability. I am thankful to the Board of Directors for theircontinued support and guidance towards taking the Company ahead. We also need to creditour success to our employees financial institutions vendors customers &shareholders.

With warm regards

Bipin M. Manek
Chairman and Managing Director

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