White Organic Agro Ltd.
|BSE: 513713||Sector: Others|
|NSE: N.A.||ISIN Code: INE146C01019|
|BSE 00:00 | 15 Jul||7.26||
|NSE 05:30 | 01 Jan||White Organic Agro Ltd|
White Organic Agro Ltd. (WHITEORGANIC) - Chairman Speech
Company chairman speech
Dear Fellow Shareholders
It gives me great pleasure to share with you the highlights of ourCompany's performance for the financial year ended March 31 2018.
As stated in the last Annual Report it gives us immense pleasure toinform our shareholders that we are now into a single business activity of organic agrobased business and allied activities (viz. farming cultivation retailing and marketing).
White Organic Agro started farming and cultivation activity on leasedbasis on 1360 acres of land at Rajkot in Gujarat. Multi location farming and cultivationis our strategy of minimize the effects of climatic disasters or natural calamities in aparticular region. We have been able to bring together an excellent team of professionalswith a wide experience on the organic farming front their expertise helps us to introducenew products and increase our geographical reach going ahead. We endeavor to furtherenhance our leased farming activity across the country and also strengthen our contractfarming business vertical.
Our in-house processing facility gives us an edge over competitorswith retail and distribution under one roof resulting in forward integration over farmingactivity. Our first retail flagship store located in Chembur Central Mumbai is very wellaccepted by the locals and also in the nearby areas. Currently we have over 250 productsin our portfolio across different segments. Our integrated website is fully functionalwhich provides an e-commerce platform to cater to the widespread demand across the nation.We also have the license to produce medicinal and nutritional products at ourmanufacturing unit.
Our Company's capability is to offer complete organic product range andthe right product mix through own farming and cultivation activities has made the brand"White Organics" a preferred choice amongst customers. We have a strong teamwhich constantly engages in educating the farmers by conducting various seminars andknowledge sharing programs for various farming and cultivation related activities. Wefocus to increase the visibility of our brand not only domestically but also globally. Iam happy to share that our Company successfully started overseas operations in Dubai andreceived a very positive response in the first quarter of operations itself.
Our Management is committed towards building a healthy society. In thisregards we constantly spread the awareness amongst people for "Healthy Eating andHealthy Living" as we go by the philosophy that "Our Food is OurMedicine". We are confident that India will see a strong shift towards the organicfood with growth driven by acceleration in health consciousness customer spending andhuge opportunity lying within the unexploited organic sector.
Today the Company has emerged as:
The only listed entity in the organic food industry with globalfootprints in Dubai
Only Company positioned strongly in organic farming as well asretailing of organic products
Amongst leading organic retail players to run on a broaderscale by offering products online
Among few Indian companies to a pan India presence as well asglobal presence under "White Organics" brand backed by our own organic farmingand cultivation activities
We are amongst the first few to foray into the organic food industrywith farming and retail operations with dedicated teams. We plan to expand our presence inother parts of the country as well to de-risk the adverse climatic conditions affectingthe farming activities. We currently evaluate this in phased manner. Our plan is to caterto the entire range of organic food products and other organic products.
Our focus will continue to deliver fair value to customers need; to addvalue to our farmers.
Our focal point remains on our expansion in the current year. Wecontinuously make an effort to enhance our brand image revenue & profit ROCE andcash flows across all our businesses.
We are confident that in the coming years along with the growth indomestic consumption & growth in economy globally we will not only capture highermarket share but also grow across India and abroad.
The consolidated financial performance for the 12 months ended March31 2018 is as follows:
Total Net revenue stood at Rs. 187.9 crore for the year endedMarch 31 2018 as against Rs. 21.6 crore for the corresponding previous period last yearan increase of 769% mainly on account of increase revenues across all businessesverticals good rain in the farmland areas and due to huge demand for organic products.
The EBIDTA (earnings before interest depreciation and tax) wasRs. 10.9 crore for the year ended March 31 2018 as against Rs. 1.1 crore for thecorresponding previous period an increase of 856%.
The profit after tax for the financial year ended March 31 2018was Rs. 11.2 crore as against Rs. 1.4 crore for the corresponding previous period anincrease of 683%.
Our motive is to serve un-adulterated organic food products andcontribute considerably in the making of a healthy India which is our principles andvalues.
The organic industry is expected to deliver exceptional growthglobally. Reports indicate that the domestic organic food consumption pattern will grow byleaps and bounds riding on increased consumer awareness and will double in India in thenext 10 years driven by Government initiatives and increased consumption.
The Company constantly endeavors to increase its product portfolio sothat it can cater to diverse customer needs and evolve as one stop solution for organicproducts. With this we can increase our presence and strengthen the brand "WhiteOrganics". Our farming activity and diversified portfolio across food productshealth and beauty provides a wide range of product selection thereby increasing clientengagements.
I thank you all for your immense support and continued confidence inthe management of our Company. I also like to thank all our stakeholders farmerscustomers employees partners shareholders business associates and society at largefor their faith in us.