Dear Members,
Firstly with Grief profound, we are extremely sad to share with our esteemed members,
the irreparable loss of the Founder Promoter, Chairman Emeritus, and the pillar of the
Company, Late Shri Vinodrai Patel, (Father of Ajesh and Tulan Patel) on the black day of
26th May 2021 due to COVID-19. As you all Know, the Second wave of COVID-19 has
affected all of us in one way or the other, my heart goes out for the families and friends
of all those who have lost their loved ones like us or are struggling with health issues
due to this pandemic. The pandemic upended the Indian economy, suspended business
activities, and brought about unprecedented slowdown across industries. A long and winding
journey was embarked with moments of glory and despair, but Oceanic managed to not only
survive, but thrive. We steered the tough environment by further fortifying our strengths
and leveraging newer opportunities. Besides protecting our current business base, we
geared up to make the organization more efficient to take on the Short term Challenges.
With pleasure we share with all, company’s 28th (05th Annual
Report after it’s listing on the BSE Platform. I would take this opportunity to share
with you the another challenging year 2020-21, which has truly been a year of many
learnings. Viewed in context of Challenges of the COVID-19 outbreak causing social and
economic turbulence, we were able to deliver a good performance and made a considerable
progress across business. Despite facing Multiple headwinds, Oceanic delivered the
performance of crossing 100 Crores of Revenue from Net sales of Operations. Net Profit for
the F. Y 2020-21 stood at Rs 2.22 Crores. Covid-19 presented significant Challenges for
our people and our business. To succeed in this uncertain and highly dynamic environment,
we need to be agile and seize opportunities in a very short time- frame. We quickly
adapted our business approach, mobilized our teams to put in a strong effort despite
lockdown restrictions, besides leveraging technology and innovation to address the
changing environment and the emerging needs of our consumers. We established a strong
presence across the globe and stayed relevant to the Society at large. Oceanic has
established highest standards of Quality, in its business since more than four decades.
Oceanic has taken many initiatives of energy conservation, green fuel and farmer
upliftment. Oceanic continuously invest in Research and Development and drive innovations
to build Value added Products. At Oceanic, We are committed to our mission of expanding
our Business across the globe, supply finest products and establish Long Term Mutually
beneficial Relationships with our customers to promote Healthy Living. We recognize that
doing business in a sustainable and responsible manner is integral to ensuring our future
viability. Value creation for all stakeholders underpins our business strategy and growth.
Adding to that, Overall Food market in India (FMCG) led the growth with a 15% surge with
underlying growth of 12.5% in the F. Y 2020-21. Government is promoting Food Industry with
subsidies and export incentives, enabling policy environment, fast clearances and
regulations aligned with Global rules. Our endeavor to anticipate, understand and respond
to our Customers’ needs by creating high quality products, and making them available
through innovative and convenient channels has helped us to grow to this stage. We have
embraced the right technology to delight our Customers, at the same time advocating the
balancing of economic, social and environmental aspects to create a better tomorrow.
The Strengthened performance that Oceanic reported in a COVID year comes from the high
degree of resilience that we built in our business through a series of consumer centric
and tactical innovations coupled with investments in adding Capacity of our Portfolio
products. Our Diversified portfolio helped us successfully navigate the unchartered waters
of the pandemic and emerge stronger. As a member in the Board of the company and
Chairperson I have witnessed our company growing by achieving many strategic milestones.
All thanks to the commitment, passion and encouragement of our associates. On Behalf of
entire Board and Management Team of Oceanic, I would like to express my sincere gratitude
to all our customers, suppliers, distributers, Partners, shareholders for being with us in
these uncertain times.
I would like to place on record my appreciation of entire Oceanic Family who have risen
to meet the challenges which this pandemic threw up over the year. I would also thank my
Fellow Directors for their valuable guidance and support to the business. I would like to
take this opportunity to express my immense gratitude to all of our frontline warriors
Police Personnel, Doctors, Health Workers, and Sanitation workers for their efforts in
keeping all of us safe during these pandemic days. While we remember 2020-21 for the
significant Challenges the year presented in the form of COVID-19, the fact remains that
the pandemic is still far from over. With the emergence to Second wave and talks of
another wave likely to come in near future, we might have to cope with the related
challenges. We are confident that Oceanic is well positioned to meet the Challenges ahead
and generated sustainable long term growth. Finally, let me close by thanking all our
Shareholders, investors, Business Associates, Consumers, for the trust and confidence they
placed on us. We look forward for your support in our endeavour to continue delivering
value for all our stakeholders over the coming years.
Stay Healthy, Stay Safe
Thank You
Sincerely yours,
Ajesh Patel
Chairman & Wholetime Director
DIN:00083536.