Key Note by the CMD
“We are laying a strong foundation by spearheading initiatives to achieve a prosperous future, inspired by the wisdom of our forefathers.”
Dear shareholders, Fiscal 2019-20 proved to be a watershed year as it truly tested the robustness of our business model and the resilience of the organisation to withstand disruptive headwinds. Given the current macro-economic scenario and the sentiment in the rice industry, it was KRBL’s enriching industry experience, a deep understanding of customers’ needs and sentiments and focus on high standards of quality, which helped us stay ahead of competition.
Despite the challenges, KRBL Ltd. has exhibited sustainable growth in FY20 across different business parameters. This performance has been supported by our relentless focus on building our capabilities, disciplined approach towards procurement, diversifying in selected profitable segments, foraying into newer geographies, adopting best-in-class technologies and creating an emotional connect with our consumers.
Our company continues to strongly focus on the growth of the basmati rice business. A growing demand for exports in key geographies, led by sustained industry leadership, has established us as a strong contender that can shape the industry’s future. Furthermore, broader accessibility with an omni-channel approach (which includes impeccable branding initiatives) will help us serve our customers in the best possible way. Our acute focus on customers’ needs ensure the constant elevation of our performance standards. Complementary product lines of health and wellness are currently in the planning stage. In addition, a record procurement of the best-quality paddy last season has invariably projected a turnover of ` 8,000 crores in the next 4-5 years. Globally, customers are currently favouring branded staples. This puts us in a profitable position owing to our stronghold in the key basmati markets. Our focus on stabilizing supply chains and increasing production will ensure continuous demand in export and domestic sales in FY21. We will also maintain a robust balance sheet that will define our ambitions for the present as well as the future.
Heeding the call of our Hon’ble PM, KRBL Ltd. is taking gigantic strides to steer the Atma Nirbharta mission forward. Our dedicated involvement with farmers in harvesting and procurement, along with indigenous seed development and their in-house processing, will herald holistic growth for our company and our nation at large. I would like to thank all valued stakeholders, our customer community, our vendors, our bankers and our investors/shareholders for dedicatedly extending support and putting faith in our goals. I along with the entire management team and patrons wish to express gratitude towards our employees for their valuable contribution towards taking this organization forward. Here’s wishing you the best of health and prosperity for the year ahead.
Anil Kumar Mittal
(Chairman and Managing Director at KRBL Limited)