A Message to Shareholders
I would like to present to you the Annual Report FY 2023-24 of the Company.
Though FY24 was a challenging year with some headwinds, it set us up very well for
accelerated growth in the future. There was a significant fall in oil prices in the bulk
division, which led to inventory losses and higher than anticipated time taken to
stabilize the ethanol plant. The ethanol plant has fully stabilized now, April 2024 and is
operating at optimum capacity.
Despite the headwinds, our ongoing cost rationalization initiatives, improved supply
chain efficiencies and superior product mix in the branded division helped us deliver
higher EBITDA of 10.22 cr vs 6.95cr last year.
In the consumer division, we are continuing to expand our offerings, working on
distribution expansion, and launching new products in the coming months.
Going forward, we remain optimistic about all three divisions and anticipate seeing
significantly improved performance in FY25
| Akshay Modi |
| Jt. Managing Director |