In the year gone by, we continued our dedicated efforts to drive farmer’s prosperity with our varied products and technological advancements. The increasing formalization of the Indian economy and key policy initiatives especially in the agricultural sector being pursued by the Government are bound to escalate the growth of the agro industry at much higher levels. The theme which the Company adopted in FY 18-19 was “Farming for the Future”. It envisages the Indian Government’s resolve and its initiatives to double farmers’ income by 2022 by necessitating adoption of modern agronomic practices, crop diversification, better and more advanced nutrients and crop protection inputs, appropriate farm mechanization, deployment of mobile and effective usage of digital data.
As compared to the previous years, the revenue from operations on standalone basis increased by 10.41% from Rs. 71,234.89 Lakhs in the previous financial year to Rs. 78,649.98 lakhs in the current financial year, thereby showing an improvement in turnover largely attributable to its marketing strategy, increase in production etc. On a Standalone basis, the Company reported Profit before tax of Rs. 2,588.16 Lakhs and Profit of Rs. 2,713.23 Lakhs for the financial year ended 31st March, 2019 as compared to Loss before tax of Rs. 2,491.21 Lakhs and Loss of Rs. 1,817.56 Lakhs respectively in the previous financial year.
The revenue of your company on consolidated basis increased by 6.29% from Rs. 70,654 Lakhs in the last financial year to Rs. 75,096.11 lakhs in the current financial year. The Consolidated Profit of the Company for the financial year ended 31st March, 2019 is Rs. 2,537.99 Lakhs as against Loss of Rs. 2,382.88 Lakhs in the previous financial year, which shows reasonable improvement from the last year. Increase in revenue from operations and Profit on Standalone and Consolidated basis were largely attributable to a variety of positive factors such as stabilization in operations, increase in efficiency and launch of new products during the period under review.
Our intent, going forward, will be to accelerate farmers prosperity, while striving for long-term sustainable growth. We have devised key strategies and embarked on several initiatives towards this goal. Our focus continues to be on effective implementation of these strategies to maximise value creation. With core values of trust, adaptability and innovation deeply rooted in our DNA, we are confident that your company would continue to grow from strength to strength in the manufacture of pesticides and agrochemical sector.
I would like to conclude with a special vote of thanks to our Board members, who have been guiding the leadership team to achieve the best innovative solutions and promote a healthy growth for all our stakeholders. On behalf of the entire Board of Directors, I express my deep gratitude to all our stakeholders for their continued trust and support.
With warm regards,
Vrajmohan R. Shah
GSP CROP SCIENCE PRIVATE LIMITED
CORPORATE IDENTIFICATION NUMBER (CIN: U24120GJ1985PTC007641) Regd. Office: 403, Lalita Complex, 352/3, Rasala Road, Nr. Jain Temple,
Navrangpura, Ahmedabad -380 009, Gujarat. India