Gujarat Ambuja Exports Ltd

As I reflect on the year gone by, I am filled with a deep sense of pride and purpose. We have continued to evolve, anchored by our legacy and propelled by bold ambitions for the future. In a year shaped by global volatility and regional shifts, your support enabled us to pursue our vision with courage, clarity, and conviction.

FY 2024-25 brought a series of challenges for the global economy. While growth remained moderate at 3.3%, geopolitical tensions, fluctuating commodity prices, recent tariff escalations on strategic sectors, and divergent monetary policies shaped the landscape.

Inflation moderated but services-led pressures persisted.

Amid these dynamics, we see structural shifts opening longterm opportunities in food security, sustainable energy, and bio-based materials. We are closely tracking these evolving demand patterns and aligning our investments to future- proof our portfolio. Our strategic focus is on scaling specialty chemicals and fermentation- based technologies, deepening our global presence, and strengthening innovation-led capabilities that support sustainable chemistry.

India remained a bright spot in FY 2024-25, with an estimated GDP growth of 6.5%. This momentum was driven by resilient rural consumption, strategic capital expenditure, and robust growth in the services sector. Government initiatives in agroprocessing, renewable energy, and infrastructure continued to unlock value.

This vibrant environment further strengthened GAEL'S conviction and growth focus. With our expanded maize processing capacity, growing presence in fermentation-based specialty ingredients, and foray into renewable energy, we are contributing meaningfully to India's growth story rooted in innovation and responsibility.

In FY 2024-25, amidst continued global volatility and sectoral pressures, we adopted a disciplined, forward-looking approach to performance. We closed the year with a standalone revenue of Rs. 4,613 Crores and a net profit of Rs. 251 Crores. Our operational EBITDA stood at Rs. 485 Crores.

While these figures reflect a moderation over last year, they underscore our conscious pivot towards long-term value creation over short-term volume growth. Faced with soft commodity prices, export headwinds, and a high base effect, we prioritised efficiency, strengthened integration across our operations, and accelerated investments in value-added platforms like fermentation-based specialty ingredients. These strategic choices are building the foundation for resilient, future- ready growth.

Our corn processing segment remained a strong pillar of growth, with sustained performance and a growing share of value-added products. We have an expanded maize processing capacity of 5,200 TPD and the breadth of our distribution network spans over 120 countries. This strengthens our ability to serve diverse industries, from food and pharma to animal nutrition and specialty chemicals.

At GAEL, we are undergoing a purposeful transformation, evolving beyond our agro-based roots into the high-potential domains of specialty chemicals and fermentation. By harnessing advanced fermentation technology, modern R&D, and sustainable chemistry, we are laying the foundation for long-term growth and resilience.

These projects are strategic enablers of sustainable transformation and future-ready value creation. By embedding circularity, resource efficiency, and low-carbon practices into our manufacturing processes, we are not only aligning with evolving regulatory and environmental expectations but also unlocking new product adjacencies. Our efforts are geared towards building differentiated capabilities in high-growth segments such as functional foods, nutraceuticals, and green solvents. As we deepen our technological integration and scale globally relevant platforms, we are positioning GAEL to move up the value chain and capture long-term demand in a changing world.

Scaling New Frontiers Sustainably

Our long-term vision is to build GAEL into a global partner for sustainable agro and specialty solutions. By integrating India's agricultural strength with cutting- edge science and renewable energy, we are creating a platform for scalable, responsible growth.

Fermentation, renewable energy, and specialty nutrition will shape the next phase of our growth, building on the strong foundation of our core in agroprocessing. This is how we aim to stay relevant, future-ready, and purpose-driven.

ESG guides not just what we do, but how we think. From deploying wind, solar, and biogas energy to promoting zero liquid discharge and reusing byproducts, our operations are designed to minimise environmental impact.

Our CSR initiatives, aligned with the UN SDGs, aim to uplift communities while lowering our environmental footprint.

ESG will remain central to our competitiveness, risk management, and stakeholder trust.

This journey of resilience and reinvention would not be possible without our people, customers, investors, bankers and partners. Your trust fuels our ambition, grounds our decisions, and inspires us to deliver lasting value.

As we step into the next phase of growth, we do so with humility, purpose, and a clear vision for the future. I am confident that, together, we will continue to build a future that is inclusive, innovative, and enduring.

Warm regards,

Chairman & Managing Director