The Board of Directors of the Company at its meeting held on October 27, 2018 has approved the Unaudited Financial Results for the quarter and half year ended September 30, 2018.
Adding another feather to its cap, Ihsedu Agrochem has been felicitated by The Solvent Extractors’ Association of India (SEA).
The castor oil processing company has yet again proved its dominance by bagging two awards - ‘The Highest Processors of Castor Seeds Oilcake’ and ‘The Second Highest Exporter of Castor Seeds Extraction’ in India, at the prestigious event. The award has been received by Varun Udeshi, Director of Jayant Agro-Organics and Sandeep Udeshi, Vice President of Jayant Agro-Organics, from Ibu.Ir. Musdhalifah Machmud - Dy. Minister for Food & Agriculture, Government of Indonesia.
Jayant Agro-Organics Ltd. (BSE: 524330 | NSE: JAYAGROGN), one of the largest manufacturer of castor oil and speciality chemicals in the world, published its financial result for the quarter ended June 30, 2018. The company reported a profit of INR 15.6 crore in the quarter ending June 2018, up 23% against INR 12.7 crore in the sequential quarter ended March 2018. The EBITDA in the quarter at INR 40.2 crore is sequentially higher by 13.6%.
Jayant Agro posted revenue of INR 632.5 crore in the quarter ending June 2018, up 4.5% against INR 605 crore in the corresponding quarter ended June 2018. The company’s EPS at INR 4.78 is sequentially higher by 21.6%. The company started the year on a positive note with a stable business environment. The exports for the castor oil industry witnessed buoyant demand, which is expected to improve steadily in the long run. With the petroleum prices rising, castor oil based products offer an eco-friendly alternative to many petroleum-based products. Jayant Agro’s joint ventures in the international market have started to pay off and positions the company as leading, consistent and reliable suppliers to the world market.
Speaking on the results, Abhay Udeshi – Chairman and Whole-time Director at Jayant Agro Group, said, “We have to consolidate our performance as we prepare for the next level of growth by introducing new products and adding downstream products to the existing portfolio. The versatility provided by our R&D centre not only helps to launch new products, but also enables to respond dynamically to the changes in the market. We sell more than 75 different products to over 70 countries across the globe.”
“We have placed faith in the Indian farmers, particularly in the castor seed growing regions of Gujarat and Rajasthan to increase castor seed availability in a meaningful way. It has been our endeavour to support the efforts of the farmers by providing them with a market for their produce”, Abhay Udeshi added.
The Board of Directors of the Company at its meeting held on July 28, 2018 has approved the Unaudited Financial Results for the quarter ended June 30, 2018.
Pursuant to the applicable provisions of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, we wish to inform that, the meeting of the Board of Directors of the Company is scheduled to be held on Saturday, 28th July, 2018 to take on record, inter-alia the unaudited financial results (Provisional) for the quarter ended 30th June, 2018.
Further as per the provisions of the SEBI (Prohibition of Insider Trading) Regulations, 2015 (as amended) read with the Revised Code for Prevention of Insider Trading in Securities of Jayant Agro-Organics Limited, the “Trading Window” for trading in the equity shares of the Company by any “Insider” covered under the said Code will be closed from Wednesday, July 18, 2018 to Tuesday, July 31, 2018 (both days inclusive).
Leading chemical companies have empowered 1,019 Indian farmers in their journey to create a framework for sustainable castor bean production. Arkema, a global leader in specialty chemicals and advanced materials; BASF, the world's leading chemical company; Jayant Agro-Organics Ltd., a pioneer in castor oil based chemicals in India, and Solidaridad, an international civil society organization, came together for Project 'Pragati' (Hindi word for progress). With this first-of-its-kind initiative globally, the companies are developing a sustainable castor framework titled 'SuCCESS' (Sustainable Castor Caring for Environmental & Social Standards). On May 2nd, 2018, the first 10 producer groups, representing the 1,019 castor farmers were formally awarded their certificates for their tremendous achievements in improving the sustainability of their farming practices.
A baseline survey of more than 1,000 castor farmers was conducted in 2016 on issues relating to their productivity, social impact, environment, health and safety. Based on the initial findings, Project Pragati was launched in May 2016 in Gujarat, India as this region produces nearly 70% of the world's supply of castor beans. The project aims to address these issues with the development of a sustainability framework designed to evaluate the social, economic, agronomic, and environmental performance of the Indian castor farmers.
Key outcomes of the project to date:
More than 2,000 hectares of castor farming are now in accordance with the project framework
Since its launch, Project Pragati has led to intensive farmer engagement and adoption of best agricultural practices within the castor community. These results have been audited by independent third-party inspection agencies. To date, over 2,700 farmers have been trained by the project and 1,019 farmers have now been successfully certified and recognized under the project.
By educating, and disseminating best agricultural and environmental practices, Project Pragati, enables farmers to access the full benefits of productivity through better practices. In addition, aids in creating awareness and incentivizes them to take responsibility towards health, environment, safety and society.
On the occasion, Mr. Abhay V. Udeshi, Chairman at Jayant Agro Group, said, “With an intent to accelerate innovation, growth and enhance farming practices in the sustainable castor bean production, we are glad to be part of the initiative Pragati. The program is aimed at creating an impact on sustainable castor production and we look forward at delivering solutions best suited to comply with the environment, safety and social norms thereby enhancing its efficiency and performance. We believe that this initiative will accelerate the business growth, delivering productive results for castor farmers within the country. We are thrilled to collaborate with companies like Arkema, BASF and Solidaridad to further expand and create value additions on this project that will financially benefit the farmers.”
While the project continues to positively impact the farming community, the founders are now considering opening the project for participation to all interested stakeholders to enhance sustainability for the castor industry within the next 12 months.
The Board of Directors at their meeting, interalia approved following business matters:
1) Audited Financial Results for the year ended 31st March, 2018.
The Board of Directors at its meeting held on 5th May, 2018 has approved the Audited Financial Results (Standalone & Consolidated) of the Company for the quarter and year ended 31st March, 2018 along with review report of the Statutory Auditor of the Company. In the said regards, please find enclosed herewith the said Financial Results in the prescribed format, the report of Statutory Auditor and declaration pursuant to Regulation 33 (3) (d) of SEBI (Listing and Obligations & Disclosure Requirements) Regulations, 2015.
2) Recommendation of Final Equity Dividend (@ 27% i.e. ₹1.35 per share).
The Board of Directors have recommended a final dividend @ 27% i.e. ₹1.35 per share on Equity Shares of ₹5/- each, which shall be subject to the approval of the shareholders at the ensuing Annual General Meeting. Upon the approval ofthe final dividend by the shareholders, the total dividend for the financial year 2017-18 will be@ 40% i.e. ₹2.00 per share on Equity Shares of ₹5/- each. (On the enhanced share capital on account of bonus issue in the ratio of 1: 1 in the financial year 2017-18)
3) Raising of Funds.
Subject to approval of the Members of the Company, Board of Director have approved the raising of funds by issue of equity shares and/or debt securities.
4) Reclassification of Promoter
Subject to approval ofthe Members ofthe Company and other regulatory bodies, the Board of Director have approved the reclassification of Mr. Dilipsinh G. Udeshi from Promoter to Public Category.
5) Date of 26th Annual General Meeting
The 26th Annual General Meeting ofthe Company will be held on Saturday, 28th July, 2018.
Jayant Agro-Organics Ltd. (JAOL), was felicitated by ISCMA (Indian Specialty Chemical Manufacturers Association) for outstanding export performance for the year 2017-18. Dr. Subhash V. Udeshi, Technical Director, Jayant Agro Group received the award.
The company is conferred with the “Export Award by Indian Speciality Chemical Manufacturers Association (ISCMA) for the year 2017-18” taking into consideration the consistency and growth achieved in exports during the year 2016-17.
Jayant Agro-Organics Ltd. (JAOL) the emerging global leader in castor based- speciality oleochemicals, today participated in The Krishi Mahotsav organised by the Government of Gujarat and pledged to extend its support to farmers.
During the event Mr. Abhay V. Udeshi, Chairman, Jayant Agro-Organics Ltd. quoted, they promote scientific farming of castor among farmers. They do so by distributing information booklets in more than 35 centers like Ahmedabad, Vadodara and Kutch.
For the last decade, JAOL with Sardar Krushinagar Dantiwada Agricultural University (SDAU) is producing certified hybrid seeds for the farmers to get good quality sowing seeds at a reasonable price and to train the farmers to improve the efficiency in castor farming. This is under the Public Private Partnership (PPP) with SDAU, Department of Agriculture, Govt. of Gujarat, NCCSD, NGOs and various trade associations.
We are pleased to announce that Jayant Agro-Organics Ltd. was felicitated by CHEMEXCIL (Export Promotion Council set up by the Ministry of Commerce and Industry, Government of India) for outstanding export performance. Shri Suresh Prabhu, Hon’ble Union Minister of Commerce & Industry and Civil Aviation, Government of India, presented the awards to the Chairman - Mr. Abhay V. Udeshi.
The Award Ceremony was held on 21st April, 2018.
The Company received the award under the category Panel IV – Speciality Chemicals. Lubricants and Castor Oil:
Jayant Agro-Organics Ltd.
2016-17 – Award of Excellency