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Chairman's Message - kaveriseeds
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“We believe that innovation and strategic investment represents the cornerstone for sustainable development. To meet the growing demand our research concentrates on genetics, technology and sophisticated strategies to design and develop hybrids for multiple regions.”

G. V. Bhaskar Rao
Chairman & Managing Director

Dear Shareowners,

I am happy to share Kaveri Seed’s performance and highlights for FY2019. Today, one of the biggest challenges of the 21st century is to provide food for the fast growing world population, sustainably. As part of our business philosophy, we innovate constantly to help farmers to achieve higher yields and mitigate challenges.

Adequate crop production in India is linked to a number of factors today. A deplinishing eco-system with challenges related to availability of more arable land for different crop production across topographies, rapid urbanization, scarcity of water for irrigation, rainfall deficit and other natural factors.
The agriculture sector continues to be the most important sector in India. Efforts and funds continue to be invested to make the sector sustainable, aligning to national interests of farmers prosperity and food security. Given the challenges that exist, We, at Kaveri Seeds are determined to bring innovative solutions that would help seeds perform better and thereby bring value to the farmers.

Investing in the future

For more than three decades we have been continuously investing in strengthening our Research &Development with an objective to produce the right seeds to improve farm yields. Our state-of-the-art laboratories for Biotechnology and Seed Technology, are today unmatched in the industry in terms of Infrastructure, Intellectual Capital and Machinery. We have further increased the manpower in scientific research across our multi-crop portfolio. A clear road map for R&D has been drawn to produce the innovative seeds with futuristic needs that are suitable under various agro-climatic conditions so as to sustainably drive high yields and improve farmer’s income.
Improved seed quality will play a key role for food security in order to sustain agricultural productivity. Rising global population has cascading effects, not only for increased food requirement, but also on availability of land and water to ensure sustainable agriculture produce. Also, understanding the customer need is critical to food security today.

Performance highlights

I am pleased to report that, Kaveri Seed has had another satisfactory year of performance. Our revenue from operations stood at Rs. 768.99 crore in FY2019, backed by new product launches and higher operational efficiency levels. We recorded our EBIDTA at Rs. 248.43 crore in FY2019 compared to Rs. 241.70 crore in the previous year, growing by 2.78%, while we registered an impressive PAT of Rs. 214.73 crore in FY2019, growing by 2.09% over previous year figures of Rs. 210.34 crore. We ended FY2019 with sustained progress and look forward to delivering improved performance in the ensuing years.

Kaveri Seeds has undergone a concerted transformation. Being one of the largest seed producers for cotton, maize and rice, we are now transforming to emerge as a preferred and leading multi-crop player with our widening portfolio. Our firm foundation, laid on advanced R&D programmes and innovation in seed production has helped us innovate  and  develop seeds that result in farmers prosperity. The bed-rock of our innovation rests on emerging trends like advanced plant breeding for biotic and abiotic stresses.

Vegetables continue to play an important role in food nutrition for the Indian population, being a staple food component as well as providing protein supplement. We have accelerated our R&D efforts in tomato, okra, hot pepper, bitter gourd and other vegetable crops. We were also able to develop and design the right seeds for different climatic conditions of various regions of the country to meet the aspirations of the farmers and consumers. The marketing team also intensified its efforts to distribute our products to strengthen our market presence.

Kaveri seeds has initiated strong R&D capabilities in genetics, plant breeding and biotech innovation which provide a critical edge to meet the consumer needs. We have collaborated with leading national and international institutions on germ plasm acquisition, biotechnology, precision agriculture, digital agriculture etc., to strengthen our product portfolio and transform into a multi-crop, product portfolio company.

Our new, innovative seeds covering various crops have set a strong foundation for our export presence, where we have made steady progress with our quality seeds finding acceptance. In FY2019 we started exporting to SAARC and African countries with plans to further expand to other countries in the coming years.

A trusted brand

Most of our hybrid seeds expand the addressable acreage with their ability to produce under biotic and abiotic climatic conditions of the country. Over the years we have positioned ourselves credibly in the market place due to creation of Kaveri Seeds brand’s salience by delivering the right products at right place. For instance, our two Bt cotton hybrids viz., Jaadoo and ATM, which we introduced in 2009 and 2012 respectively, still garner sizable market share.

People first

More than 956 people at Kaveri Seeds are responsible for the growing success of the organisation. Their knowledge, commitment and expertise have helped bring our futuristic innovations to life. They are integral to our vibrant business model, assisting and collaborating with farmers located at the length and breadth of our country. We endeavor to build deeper relationship with our employees and work seamlessly to improve our performance and drive market leadership.

Social sustainability

At Kaveri Seeds, social responsibility and sustainability remain at the core of everything we do. Our team of volunteers undertake various projects and initiatives to address the underprivileged community in rural areas, across fields like education, agriculture and skill development . Social inclusion and community engagement form an important element of our business model and we are passionate to make a positive difference in any way we can.

Road ahead

As we remain steadfast on our future targets, I would again like to reiterate the insights and expertise of all our teams across the company. I would also like to thank the farmers, who continue to repose their faith and trust in our company.

We shall continue to invest in innovation and drive sustainable agriculture development of the nation. I thank the Board’s and leadership team’s hard work and commitment for their stewardship and contribution for Kaveri Seed’s sustained growth. I would also like to acknowledge the investors for their ongoing trust and support, enabling us to take strategic long-term decisions that ensure value-creation in the foresight.

I strongly feel, our futuristic product innovations will define the way to bring farmers prosperity. As we continue to move forward, we remain optimistic to build a stronger entity that will contribute to nation’s food value chain and farmer prosperity, together.

Financial achievements
of 2018 – 19

At the same time, the growing use of biotechnology in agriculture is likely to improve the yield of crops, thus improving farmers’ economic status.

Our Focus been on

Shaping a growth-oriented approach

Improved seeds are the primary reasons for agricultural growth. Kaveri Seeds is one of the premier …… Indian seed companies and among the top three in the Indian seed industry.
We undertake efficient and judicious planning for seed production, emphasising on a diverse set of geographies, to minimise our production-related losses and sharpen our competitive advantage. Our research concentrates on genetics, technology and sophisticated strategies to design and develop hybrids for multiple regions. With a strong R&D base and a vibrant distribution network, we have been producing and marketing high-quality seed varieties for more than three decades. Our skills, creativity, expertise and experience, as well as the right product portfolio in different crops, help fulfill the aspirations of farmers and consumers of India.
We believe that innovation and strategic investment represents the cornerstone for sustainable development. To meet the growing demand for maize cob drying, we have created an advanced drying facility with a capacity of 1,500 tonnes per cycle, so as to achieve 9,000 tonnes in six cycles in a year. Further, we have established a 10 tonne-per-hour capacity processing plant at Mulangur.
We aspire to be the global market leader by following our vision and mission and producing world-class seeds. Our research efforts are focused on the pre-and post-harvest technologies of seed production.

Performing sustainably

During the year, India received substantial and timely rainfall. Our revenue from operations grew by 15.30%, from Rs. 669.89 crores in 2016-17 to Rs. 772.40 crores in 2017-18, on account of enhanced capacity and customer mix. Our EBITDA increased by 40.34%, from Rs. 172.23 crores in 2016-17 to Rs. 241.70 crores in 2017-18. Our PAT also witnessed a rise of 168.05%, from Rs. 78.47 crores in 2016-17 to Rs. 210.34 crores in 2017-18 owing to growing portfolio of value added products.
Our investment in product innovation, design and development has borne encouraging outcomes with the launch of new hybrids in our mandate crops. The year marked a high success rate for our product development, with the commercial launch of hybrids in the field and vegetable crop segments, including Drona, Sultan and KMH 463 in maize; Money Maker in cotton; KPH468 and KPH-475 in rice; and Maximo, Singham and Supremo in bajra.
During the year, our new products showed encouraging results for our business. I am happy to share that six of our promising hybrids across different crop segments were notified and released by the Central VarietyRelease Committee (CVRC), Government of India, raising our overall tally of such CVRC-notified hybrids to 20. Our classic warhorses such as Jadoo, ATM and Super Boss, among others, continued to consolidate our position in the market. Products such as KBH 103, KBH 4252, KTH 326 and KTOH 1301 are in the pipeline.
Going forward, at Kaveri Seeds, new breeding strategies are in place to help us further increase our R&D efficiencies. We will continue to excel in the invention and development of superior products, primarily those that are suitable for India’s different agroclimatic conditions.

Investing in talent

We strive hard to offer a motivating work culture to our people, where performance is recognised and rewarded. Teams are encouraged to enhance their skills and realise their true potential. We attract, develop and engage talent and manage them efficiently by formulating strategies and initiatives to achieve our goals.

Reinforcing ties with communities

As a part of our corporate citizenship agenda, we undertake several sustainability initiatives in the rural communities of Gatla Narsingapur, Ramnagar and Bollena Pally, in Telangana, to help improve their quality of life. Our intervention in the
areas of education, farmer welfare and community empowerment enable the rural residents be a part of India’s socio-economic progress.

Way forward

I am deeply grateful for the steadfast dedication shown by our people in the course of our journey. I thank the go-getters of Kaveri Seeds for their untiring dedication, hard work and commitment.
On behalf of my colleagues on the Board, I would like to express my sincere gratitude to you – our customers, employees, suppliers, business partners and shareholders – for embracing our vision and propelling our initiatives. I am confident that with your continued support and encouragement, Kaveri Seeds will attain greater heights in the coming years. With several new initiatives in the works, we look forward to another successful year ahead.

Warm regards

G. V. Bhaskar Rao
Chairman & Managing Director

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