Dear Share Holders of Prima Agro Ltd,
I hope all of you and your dear ones are safe, healthy and taking all necessary
precautions to stay safe in these difficult times.
The year 2020-21 has been challenging for each one of us. The Covid-19 pandemic has had
a significant impact on lives, livelihoods, public health, economic performance and the
business. Operational challenges mounted due to restricted movement and disrupted supply
lines during the first few months of the pandemic. As the second wave of the pandemic
unfolds with predictions of a third wave in the offing, our focus continues to be on our
people’s health & safety, ensuring uninterrupted supplies of Covid relevant
portfolio, meeting the demand arising out of evolving consumer needs, caring for the
communities in which we operate, and finally, protecting our business model.
We can acknowledge that, this year, we do have reasons for optimism that we did not
have a year ago. At the time of our last AGM, the world had no Covid-19 vaccines. Nor did
anyone know how soon one could be produced. Nor whether it would prove effective. Now, the
world has more than a dozen effective vaccines. Despite an uneven start, more than a
billion doses have been delivered so far. And deployment is steadily accelerating.
We believe that the economy will bounce back to the normal state and will see its signs
of a recovery in the future. Due to Stringent Covid Guidelines and social distancing norms
enforced at the workplace the operations continue to be run at lower capacity. We adhere
to all necessary precautions and guidelines thereby ensuring the safety and health of our
employees. FY 2020-21 is a challenging year for your company with significant impact on
production.
The relentless commitment and dedication of every member of the PRIMA family helped the
business overcome many challenges in the past year. As a result, we have been able to
bring down the curtains on the financial year 2020-21 with a robust set of numbers.
With immense pleasure we would like to inform you that your company has generated
turnover of 1747.46 lakhs in Financial Year 2021 signifying a growth of 27.90% over
previous financial year. The Profit before Tax was 549.33 lakhs for the year and growth of
300.62%. Your Company’s Net Profit for the year 385.44 lakhs compared to 6.93 lakh in
the previous year.
I would like to take this opportunity to thank all our people who have been tirelessly
working to ensure that we continue to serve the people of this country through this
extremely challenging year. Most importantly, I would like to thank you, our shareholders,
for your overwhelming trust, support, and confidence in Prima Agro Limited. I would also
like to thank our management, staff, all banks and buyers for their support and actively
contributing to our success.
We, Prima Agro Limited remain ever committed and sincere in our efforts to keep
delivering better value to you.