Chairman's Message
EID Parry is on a growth trajectory, driven by a strategic transformation that is
resilient and with an eye on the future.
Dear shareholders,
It gives me pleasure to present the 50th Annual Report of your Company.
Across the last five decades, India has undergone a sweeping transformation—from a
closed, protectionist economy to the world's fourth-largest, with a GDP growth rate of
6.5% in FY 2024-25, the fastest among major economies.
This national progress is mirrored in EID Parry's journey—from a traditional sugar
manufacturer to a diversified enterprise; from a company with a principal focus on sugar
to a broad-based portfolio spanning food, bioenergy, and nutrition.
This broad basing has helped us evolve from a single-vertical operation into a
multi-vertical enterprise and from a singular sweetener focus to focus on a larger share
of the kitchen shelves; from an organisation focused on enhancing sweetness to one that is
good for humankind.
The theme of this year's Annual Report 1 nduring Challenges. Embracing Change.'
succinctly encapsulates our responsiveness to the transforming market dynamics. It
highlights our commitmeni to long term growth, sustainability, and enhanced customer
value.
In alignment with the commitment to enhance our sustainability, the Company launched
the Consumer Products Group (CPG) vertical in FY 2023-24.
The Company introduced a range of staples including rice, pulses, and millets, which
will enhance our share of the monthly household basket. This portfolio diversification
represents a significant de usking of the Company's portfolio, reducing its reliance on
the regulated and cyclical Indian sugar sector.The desired increase in revenue
contribution from the Company's non sugar businesses showcases its commitment to deepen
the business model's resilience and enhance sustainability.
During the year under review, the Company's sugar business encountered headwinds due to
a decline in the availability of cane in the states of Tamil Nadu and Andhra Pradesh.This
moderated the crushing and sugar output. The climate action was compounded by a government
policy intervention in December 2023 that impacted the distillery operations across the
country. These developments had a bearing on your Company's profitability and EBITDA.
Elowever, revenue saw an increase, largely driven by the successful launch of the CPG
vertical.
This validated the Company's agility in perceiving and addressing opportunities at a
time of enhanced consumer traction towards branded and packaged foods.
The Company's renewed focus on operational efficiency, cost optimisation, cane
planting, improvement in yield and recovery coupled with enhanced farmer engagement is
expected to bring the desired results for this business to be sustainable in the long run.
India's packaged food retail sector holds promise, supported by structural shifts in
the economy, demographics, and lifestyles.The coming decade is expected to generate a
steady expansion in India's metro cities as well as Tier 2 to Tier 4 towns. Besides,
evolving household dynamics— nuclear families and time-constrained urban living
warrant convenient, hygienic, and shell stable food options. This trend is catalysed by
changing domestic roles, with homemakers having less time for traditional cooking
routines.
EID Parry is attractively placed to capitalise on this trend. The Company's strategic
transformation is driven by a diversification into high-potential growth segments like
food, nutrition, and bioenergy.
By leveraging our trusted brand and distribution network, we are broadening our product
offerings and seek to capture a larger share of household consumption. This future-facing
development will help create a scalable platform that generates sustained value in a
regulated business environment.
As we mark this significant 50-year milestone, I extend my gratitude to all our
stakeholders—our employees, customers, partners, shareholders, and
communities—for their unwavering support and trust. Your continued belief in EID
Parry represents the cornerstone of our journey. We will pursue a future of sustained
growth, innovation, and impact, looking forward to build the next chapter — together.
M. M, Venkatachalam
Chairman