It gives me great pleasure to welcome you all to this 20th Annual General Meeting of your Company. I am pleased to inform you, that, in spite of the challenging business environment and adversities faced during the year, we were able to sustain our competitive advantages in both manufacturing and marketing of tea through our efficient and timely actions. We, as always, focused our endeavours to make better quality tea, which is essential to ensure customer loyalty and enhance realizations.
We believe that the production of quality tea enables us to sustain our brand value resulting in building customers loyalty as well as placing us on an advantageous position to counter competition and devising effective marketing strategies for continued successful business operation of the Company.
The demand for quality remains a key driver of our industry due to increasing affluence and evolving consumer taste for high quality beverages in coming years. It is believed that focus on quality is key to building sustainable brand value for improving margins and profitability in the backdrop of increasing trend of cost escalation. We are constantly monitoring and actively taking steps to effectively control cost increases.
I am also pleased to inform you that we have recently launched packet tea in the State o Odisha where the market response appears to be encouraging.
Our efforts are also on to identify and explore newer markets for increasing sale of packaged tea in Rajasthan and other states.
We continue to make long term investments to strengthen our business including replacing and replenishment of old bushes.
We continue to invest in brand building. Today nearly 35% of our tea production is sold as branded packet tea.
At Dhunseri Tea, we are positive about our prospects. Tea continues to be the most affordable beverage in the country. The increase in disposable income will generate growing preference for quality teas. We are also looking at vast rural Indian market and its potential in coming years.
In view of these realities, we are optimistic of enhancing future growth and shareholder value.
C. K. Dhanuka