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Kerala Ayurveda Ltd.

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Dec 03, 16:00
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Annual Report

For Year :
2018 2016 2015 2013 2012 2011 2010 2000

Chairman's Speech

CHAIRMAN''S STATEMENT

Dear Shareholders,

''Adversity introduces a man to himself-Albert Einstein''

An unprecedented natural calamity affected Kerala and our, Kerala Ayurveda Ltd''s operations, severely. We have been actively involved in providing support to our employees and their families who suffered extensively. Three of our units, located in Aluva, one of the most affected areas in Kerala, were under water. The entire area faced 8 weeks of severe disruption. This disruption required extraordinary efforts towards repair, refurbishment, working capital mobilization to recoup momentum, while managing a dynamic situation and sustaining morale.

Typically as we face a crisis, there is panic. This time around, we found a new spirit within. As the floods receded, a volunteer group of 25 from our group companies from outside Kerala jumped into action and relocated themselves to Kerala for 15 days. Joined by another 100 of our Kerala based staff, they formed teams of 8-10 each and worked to rehabilitate our KAL families who were in relief camps with their homes severely damaged. They helped clean out their homes and later to re-instate our operating units as well. All our group employees/volunteers without exception, also generously donated a part of their salaries to assist their colleagues to recover from their losses, with KAL matching this with an equal contribution. The immense solidarity and teamwork demonstrated by everyone makes us proud that we stood as ONE. We proved that we had the ''Power of One''. It brought us together as never before.

The past year has also been an exciting and eventful year for us. Our excellence in delivering quality Ayurvedic Products and Healthcare services has earned us many accolades, including the prestigious FICCI award for our subsidiary, Ayurvedagram Heritage Wellness Centre Pvt. Ltd. as ''WELLNESS CENTRE OF THE YEAR'', at the FICCI Medical Value Travel Awards 2017, jointly organized by FICCI, Ministry of Commerce & Industry, Government of India, and Service Export Promotion Council, held at Bengaluru in October 2017. We also won the ''Regional Ayurvedic Center of the Year 2018'' at Franchise India''s, Indian Salon & Wellness Awards 2018 held at New Delhi on 27th May 2018 and won the ''Best Ayurvedic Resort 2018'' at the FKCCI Karnataka Medical Awards, 2018 held at Bengaluru on27th June 2018.

As part of our major strategic alliances, KAL has entered into a Joint venture with Sanghvi Brands Ltd, to develop Ayurvedagram Wellness Resorts and Ayurvedagram inspired Ayurvedic Spas, across the world. Ayurvedagram is one of the world''s most awarded Ayurvedic Resorts and has set new standards in holistic and therapeutic healing. The joint venture will leverage our unique Ayurveda expertise and credibility of KAL, along with the global reach and operational infrastructure of Sanghvi Brands Limited (www.sanqhvibrands.com: Security Code-540782)

KAL is rapidly expanding a new initiative to forge strategic alliances with doctors under our unique KALPAM model (Kerala Ayurveda Limited Partnership Model). This essentially allows KAL to offer panchakarma and other authentic therapies in partnership with the best doctors around India and overseas. We are finding significant traction on this front as the best doctors are interested to combine their skills with KAL''s capability to assist them to execute the therapies at their clinics.

On the education front, Kerala Ayurveda Academy, USA, gained approval for additional programs from the State of California. We now offer 6,000 hours of programs certified and accredited by the California and Washington State! With over 4,000 GB of videos and electronic materials, the US center has trained over 2,500 students. We intend to build therapy practices with our graduates as most of them are practitioners. This is our KALPAM-USA model!! In addition, we will leverage this network by offering a portfolio of specifically designed products for the USA. The first range of products has just been launched and we will expand the range soon. In addition, we have launched a range of Ayurvedic inspired Lifestyle products that includes Marayoor jaggery, Virgin Coconut Oil, Kumkumadi Oil, and Saffron. The USA business will be a big focus area, going forward.

The company has been resilient in the face of a major catastrophic natural disaster and we salute our staff. I would like to express my gratitude to all our Directors, employees, consumers, distributors, suppliers and shareholders fortheir unshaken belief in us. We feel confident about the future, given that we have established a strong platform for products, education, and services, backed by science -and now with an indomitable spirit. We look forward to a fruitful exciting journey, together, in this fiscal and beyond.

Ramesh Vangal

Chairman

22nd October, 2018