"We are laying a strong foundation by spearheading initiatives to
achieve a prosperous future, inspired by the wisdom of our forefathers."
Dear Shareholders,
It gives me immense pleasure to present to you our advancements for the
year 2023-24. Despite several pressures on our operations during the year, we were able to
register impressive growth at the end of the fiscal. Our strong performance has been a
result of our strategic productions, strong operational efficiencies, continued focus on
customer-centricity and needless to mention, the collaborative efforts of our team
members.
As I begin discussing in finer details our performance for the
financial year 2023-24, it is imperative to first address the operating environment which
has thrown a number of challenges at businesses all around the world in the shape of
pandemic waves, geopolitical conflicts and the supply chain issues as well as inflationary
pressures that continue to create pricing pressures.
The Indian food industry is poised for huge growth, increasing its
contribution to world food trade every year. In India, the food sector has emerged as a
high-growth and high-profit sector due to its immense potential for value addition,
particularly within the food processing industry.
The management team of the company strongly feels that in the
prevailing economy, business turnaround is the need of the hour and management is working
with renewed focus and energy to improve our market share, reduce our cost base, and focus
on the customer satisfaction.
I would like to thank our employees, bankers and other stakeholders for
their hard work and commitment in this phase of Megastar Foods Limited.
Finally, I thank you for your continued trust, confidence and support.
| Sd/- |
| Vikas Goel |
| Chairman & Managing Director |