Chairman's Message

Dear Shareholders,

I am immensely pleased to present Annual Report of your Company for the year 2016-17, appraise you about performance highlights and future growth plans to be implemented over a period of time.

During the year, our Company has shown sparkling performance. Turnover has gone up by 81% to Rs.343 Crores from Rs.189 Crores, EBITDA has gone up by 53% to Rs.5.29 Crores from Rs.3.45 Crores and Profit After Tax has gone up by 80% to Rs.2.23 Crores from Rs.1.24 Crores, compared with previous financial year. This growth was achieved as a result of increase in Sales Territories and Price of the products. Presently, the Company is focusing on increasing sales Territories. Further, price of the product will also increase due to continuously increases in demand.

Our “Maruti” brand has strengthen over a period of last 25 years and consumer’s loyalty towards the brand is immensely positive.

Company produces various types of edible oils like Cottonseed oil, Groundnut oil, Soyabean oil, Sunflower oil, Mustard oil, Corn oil etc. and is commanding premium in the market.

Through environment friendly technology, we continuously strengthen our manufacturing processes, keeping cost under control, by reducing process loss and wastes. We have created a diversified product in edible oil segment protecting ourselves from an excessive dependence on any one product.

Through our diversified product range, we have expanded our presence in Rajasthan and also planning to penetrate in high consuming states like Punjab, Uttar Pradesh and Bihar. We are aiming to achieve the turnover target of Rs.1,000 Crores in coming 3 years time i.e. by 2021.

Company is an Investor friendly and had issued the bonus shares in the ratio of 1:3 by capitalizing the reserves, which will strengthen the capital base of the Company and also help in improving market cap of the Company and Net-worth of the Shareholders.

The year was marked by two major domestic policy developments, the passage of Goods and Services Tax (GST) and the action to demonetize the two highest denomination notes. The GST will create a common Indian Market, Improve Tax Compliances & Governance and boost the investment & growth. Demonetization has had short term costs but holds the potential for long term benefits. Follow up actions to minimize the costs and maximize the benefits include fast demand driven re-monetization, further tax reforms and reducing tax rates. These actions would allow growth to return to trend in 2017-18. Despite the challenges, we have achieved good results. This has been largely due to ideal cost Management, focus on efficiency improvement, productivity and customer centricity. We have done well both in terms of revenue and earnings. The topline and EBIDTA achieved has been the highest ever.

Company is also planning to expand its product portfolio by entering into processing and marketing of Grains, Daal, Pulses and Spices where we have got very good strength of procuring Raw Materials of high quality at best prices. By leveraging our “Maruti” brand and utilizing its distribution network, Company can gain reasonable market share in short time.

Company is also aiming to become a FMCG company over a period of coming five years time through organic and inorganic growth strategies.

I would like to assure you that all our employees are working extremely hard with great dedication, high energy and strong commitment for your Company. I sincerely thank all of them. I would also like to thank all our suppliers, processors and distributors for their continuous dedicated support for last several years. I also express my thanks to all my fellow Directors and key executives for efficiently navigating Company on rapid growth path through their knowledge, experience and commitment. Finally, I would like to thank each and every shareholder, for reposing faith in the Company and Management and I assure all of you that we will create tangible wealth in the Company and sustainable value for the Shareholders.

Thanks to all of you once again and see you soon with much better performance in the year 2017-18.

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