Dear Shareholders,
I am delighted to share with you, the events and developments of your company during
the course of the financial year 2022-23. The company has achieved the revenue of Rs.
747.8 Lakhs, PAT of Rs. 112.5 Lakhs and Total Comprehensive Income of Rs. 298.5 Lakhs.
The year gone-by was representative of the value created for all its stakeholders.
Business growth through competitively growing your company's core business of Animal feed
and Feed Supplements by entering into long term agreements/association with leading milk
producing companies, Cooperative Milk Societies and MNCs engaged in the business of Dairy
and Animal Health Care Products. Business association & strategic partnership with
major brands in Indian markets for supply of Feed & Feed Supplements makes it a first
choice of multi- national companies as a trusted strategic partner for contract
manufacturer.
The demand for animal feed has suffered a setback for the first half of the year as
fast spread outbreak of
Limply Skin Disease (LSD) in cattle estimated to have infected millions of animals and
over thousands of head of cattle have succumbed to the disease all over India. However it
was a matter of great satisfaction that Ajooni was the first company who has successfully
invented a most effective feed formulation to control the disease by offering low-cost
solutions. The Company aims to increase its reach, strengthen their position in the
current industry and plough ahead into the vast market that is open for business. Company
has also entered into global market by successfully executed its first export order.
The infrastructure amenities of Punjab are amongst the best in the country. The
Company's manufacturing unit is in Khanna, Punjab, which is home to Asia's largest food
grain market and India's Cattle feed hub. The primary benefit of the strategic location is
abundant availability of key raw materials at affordable prices and the cost savings
associated with labour cost and logistics. The Construction of new building for
warehousing purpose is under process and will be ready for use by next year.
Your company is fully committed to build and sustain itself as an organization where
Innovation is a key driver. Company is constantly experimenting and working on
research-based different health care solutions by a strong Research & Development
team, working closely with leading research agencies, universities and independent
scientists for process development. Its focus is to develop cost effective solutions to
improve animal health, sustainable increase milk yield, productivity of dairy farms, and
thereby, the profitability of farmers. Quality control Laboratories and R& D
facilities are being upgraded with most modern equipments to cater to the need of the
Industry.
Your company continued to focus on investing for longterm sustainable growth.
New Initiative:
The Indian population of 1.38 billion (17.7% of world) has 41% (574 million)
vegetarians, who follows a meat-free diet, which is more than the total population of the
United States and the United Kingdom put together. Milk, considered vegetarian in India,
is therefore a very important food item for this population. In India 406 grams per capita
availability per day of milk comes from 198.4 Million tons of Milk production from 192.5
million adult female Cattle and 55 million adult female Buffaloes which is far below the
global average, are dependent entirely for their food requirement on green fodder.
Currently, India faces green fodder shortage of 63.5 per cent.
To face this challenge, your Company with its continuous research work has found a most
viable solution within agro product i.e. "Moringa", which is a multi- purpose
shrub/tree of highly nutritious, palatable and has pleasant aroma, rich in protein,
minerals and vitamins, will replace conventional green fodder. It has a great potential to
produce enormous biomass and promises to be the plant of the future in ensuring year round
green fodder availability for animals. It has considerable potential for adoption as a
ruminant fodder resource.
Moringa leaves/mash are not only replacement of green fodder but also a viable raw
material for production of "GREEN ANIMAL FEED", which would be first of its kind
in India introduced by Ajooni Biotech Limited.
We have already submitted two grant applications with Grow More Foundation, a nonprofit
organization based in Seattle, Washington USA and NIH, USA in collaboration with other
stakeholders for "Techno Economic Feasibility Analysis of Moringa & Further
Enhancement of Its Cultivation".
Our planned efforts is likely to create wealth by better milch animal nutrition
resulting in higher productivity and reduce global warming.
As we look ahead, I feel confident of strong growth in the medium to long term. I am
confident that our disciplined strategy, prudent approach, focus on agile execution and
our committed team will enable us to improve performance further and create greater
shareholder value.
Additionally, the Company is fully cognizant of its corporate social obligations. For
the benefit of employees and the neighborhood, regular medical and awareness camps are
held.
Relationships between employees and management are excellent. Your Company is devoted
to enhancing ecosystem sustainability and environmental footprints.
Your Company has taken a number of steps for the employees to maintain excellent health
and hygiene standards at work, beginning with immunizing all of its personnel, families,
contract workers, and logistic partners. Additionally, the significance of both physical
and mental health was emphasized by organizing expert workshops, Medical Health checkup
camps and by offering all-around support.
We are hopeful to surpass the expectations of our dear shareholders who have put faith
in us over the years. Before I conclude, on behalf of the Board of Directors and the
Management, I would like to thank our bankers, employees, business partners, customers,
vendors, investors and other stakeholders for their continued trust, efforts and
contribution to the Company.
Let's continue our journey together on a sustainable growth path.
Warm Regards, Jasjot Singh
Chairman and Managing Director