Mumbai, September 22, 2008: The 23rd Annual General Meeting of K S Oils, one of India's leading edible oil FMCG companies was held in Morena in Madhya Pradesh. It was presided over by Ramesh Chand Garg, Chairman who addressed the shareholders in the meeting. Sanjay Agarwal, Managing Director, other board members and senior officers also participated in the proceedings.
The shareholders approved the dividend payout of 18% on Rs.1/- par value of shares. The company's dividend payout remained consistently higher than the last three years.
Regular events like passing of various resolutions of the financial accounts, appointments, etc. were undertaken by majority and consensus. The company had a turnover of Rs 2044 crores for the year ended March 31st, 2008 an increase of 91% from Rs. 1071 crores during the previous year. Profit after tax for the year ended March 31st, 2008 stood at Rs. 120.38 crores as compared Rs. 57 crores during the previous financial year, an increase of 111%.
The shareholders noted with appreciation the company's overall strategy of becoming a Research & Development driven integrated edible oil FMCG Company. The company's success in retail and brand segment was mentioned repeatedly by the shareholders. Also, the foray into palm oil with setting of palm oil plantations in Indonesia and Malaysia was supported as the right long term strategy to create a backend supply chain.
The shareholders noted the regular awards & recognitions that the company has been winning; one of the recent awards of being voted as the 6th Most Investor Friendly Company in India (which are listed in BSE) by leading business magazine Business Today was well appreciated by all stakeholders. The company's endeavor to ensure growth, wealth maximization and ROI to shareholders is seen as a key to the company's aggressive growth and profitability.
The company also shared the progress made during the year on the human resource & leadership, marketing & sales and R&D; front; thus, KS has in the last year invested in creating HR best practices and for attracting the best talent in the company. On sales and marketing, shareholders appreciated the new advertisement campaign for Kalash and Double Sher. The company has launched a sustained R&D; initiative with local level farmer participation and plans to ramp it up to an all India level.
The 23rd AGM witnessed enthusiastic participation by the shareholders with quite a few of them making critical analysis of the company's performance and gave useful suggestions for further improvement in the performance of the company. The management noted the comments of the shareholders; shareholders appreciated the K S Oils team's performance - the management, employees and workers of the company were lauded by the shareholders.
About K.S. Oil Limited (www.ksoils.com):
K.S. Oils Limited is a leading integrated edible oil FMCG company with product range constituting mustard and Soya bean oils. The company is headquartered in Morena in Madhya Pradesh and the promoters have a history of over 100 years in the commodities industry. It is listed in the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) and is the largest processor of mustard seeds in India. Managed by a team of leading professionals with rich industry experience and backed by the promoters - The Garg family - with a consistent track record of performance, the company is today amongst the top 5 edible oil companies in India and is poised to become a global player in the years to come.
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