Dear Shareholders,
I feel honored to lead this esteemed organization and would like to
extend my gratitude to all of you for continuing to support us in serving the farming
community.
The year that went by was quite tumultuous in view of unpredictable
price fluctuations. The raw material prices were skyrocketed to unprecedented levels and,
on the other hand, there was drastic reduction in subsidies, i.e. compensation amount paid
by the Government. Adverse climatic conditions and uneven spatial distribution of rainfall
further impacted industry demand. However, the outlook is cautiously optimistic in the
wake of the continuing geopolitical crisis. This paradox in the fertilizer business is
reflected in Rama's abysmal results this year. However, it is worth mentioning here that
the excellent team work with quick reflexes on possible reaction lifted the morale and
helped to wade the difficult waters which otherwise would have caused more impact on the
results.
Despite all these challenges and the initial hiccups we faced, we
managed to maintain a smooth continuity of operations at all plants. In this instability
and inflationary environment, I am immensely proud of how we built our legacy by ensuring
an uninterrupted supply of our quality products by meeting the demand of our farming
community.
Year in Review
During the year, your Company introduced micro-nutrient products to
rejuvenate depleting soil fertility. This is a major step by your Company to ensure food
security in the country by increasing the yield of produce and at the same time doubling
farmers' wealth.
One of our units, Rama Krishi Rasayan, won the runner-up award in the
category of Best SSP Manufacturing Company instituted by FAI - New Delhi on December 06,
2023.
The greenfield project at Dhule is taking its final shape and
fertilizer production will be on-stream very soon.
My Sincere Gratitude
As a responsible organization, we continue to impact several people and
continue to work towards enabling inclusive growth and equitable development through our
CSR programs, which focus on creating a livelihood, promoting health & wellness, and
education for our society.
We will continue to drive innovation, invention and look at
customer-centric in a big way as we move forward and create strong acceleration in the
market.
We will continue investing in our people who are committed to their
continuous learning and growth in these challenging times.
Our vision of "single-basket with multi-products" is well
entrenched in the system, and I am confident that our team is full of vigor to achieve new
path-breaking goals.
In the continuation of our journey of sustainable value creation, I
deeply appreciate the insight, engagement, and support of our Board of Directors, as well
as the trust and confidence of our stakeholders.
You have my assurance that we will continue to deliver, as we always
have, to our farming community for Building Trust Together
Warm regards,
Haresh Ramsinghani
Chairman & Managing Director