It gives me great pleasure to present our 28th Annual Report. 2009-2010
has been a great year for Mavens Biotech Ltd. Our total income has
risen by 122% to Rs. 4787.89 lacs and Profit After Tax has risen by
457% to Rs. 329.05 lacs over FY 2008-09, thereby registering a
Our existing business of tissue culture, bioinformatics and agri and
pharma trading continues to do well. At the same time, we have drawn up
an ambitious expansion plan for the next 5 years to continue this rapid
A phase wise plan has been drawn up to increase our tissue culture
capacity in India to 50 million plants. Acquisitions of tissue culture
mats will be made in potato, bamboo and floriculture categories to add
to the companys product portfolio. Also new facilities will be set up
for horticultural plants.
The Company has identified biomass based power generation as a new
expansion area for the company. Biomass, a renewable energy source, is
biological material derived from living, or recently living organisms,
such as wood, waste, and alcohol fuels. Biomass is commonly plant
matter grown to generate electricity or produce heat. India faces
energy deficit of 9% and peak deficit of 14%. According to the Ministry
for New and Renewable Energy (MNRE), the power generation potential
from agri residues in India has been assessed as about 16,000 MW.
However, as of September 2008, only about 656 MW of grid-connected
bio-power based on agri-residues and plantations could be achieved.
Thanks to consistent support from all our stakeholders, our businesses
have scaled up significantly and added lot of value. Our understanding
of the market, along with our continuous emphasis on delivering quality
products and services will enable us to make the most out of the
opportunities available. We remain eager to make agriculture more
sustainable and thereby are in constant search for products and
technologies that will make farm families live better lives.
Employees have always been at the centre of our endeavor. I would like
to express my appreciation for their continuous commitment to our
success. I believe our management team has the leadership capability to
take us to the next level.
Id like to extend my gratitude towards all our shareholders, customers
and staff for their support in shaping the success of Mavens Biotech
B. K. Sah
Whole Time Director