He was a true pioneer and a visionary, whose association with the castor industry spanned over 6 decades. Ever since he set up his first plant in 1952, he continued working tirelessly to bring the industry and later Jayant Agro-Organics Ltd. to its leading position in the castor world. Due to his wide experience in the castor oil industry over the years, he represented various important bodies both in India and abroad. He was the Chairman of the Castor Oil Panel at Chemexcil, Vice-Chairman of the Chemexcil Council, Director - Bombay Oil Seeds & Exchange and also the first Indian President of International Castor Oil Association (ICOA). His pioneering work and the efforts in shaping the castor oil industry earned him the Lifetime Achievement Award from Chemexcil, set-up by the Ministry of Commerce and Industry and also by the Globoil - Solvent Extractions Association of India.
The year 2014 is considered as a defining one in India as for the first time, after a gap of 30 years,the Indian people have given the mandate to a single party. The country is looking forward to our new Prime Minister, Mr. Narendra Modi, to replicate his success in Gujarat on a National Scale.I am optimistic, like many in the corporate world, that the new government under Mr. Modi, along with his other Cabinet Ministers, will provide the required thrust and focus on the Modi-mantra – "Make in India, Made in India", and will provide the necessary impetus to India's growth from a "raw material source" to "value added products source".
With India accounting for more than 80% of the world's castor oil supply and Gujarat constituting more than 75% of the same, the castor oil industry is also looking forward to the required support. 90% of the value addition of castor oil by the specialty chemical industry is carried out overseas. Resonating with the Modi-mantra, a dynamic policy change will bring the required value addition to the Indian castor industry.
I have completed my first year as the Chairman and during the current year, we have entered into two joint ventures. One with Arkema, France, which is the largest consumer of castor oil, and another with Mitsui Chemicals Inc., Japan and Itoh Oil Chemicals Company Ltd, Japan for value added products. Arkema has invested in the existing subsidiary company, Ihsedu Agrochem Pvt. Ltd (IAPL), which is the castor oil manufacturing business for security of their supplies and for IAPL, it is to bring more business stability for the long term. The second joint venture was formed by incorporating a new company Vithal Castor Polyols Pvt. Ltd. (VCP) dedicating it to our founding Chairman Mr. Vithaldas G. Udeshi. This new greenfield manufacturing project is located at Jhagadia, Gujarat – in line with the vision of enhancing and promoting value addition in a sustainable way for the benefit of the society and environment. I believe that these partnerships will be fruitful to all the stakeholders as these partnerships cover the spectrum of the castor industry, from the base - castor oil to value added product.
Although, the castor oil industry has been facing a period of stagnation with intense competition, we continue to invest in our Research and Development activities by development of innovative products and new processes to maintain its leadership position.We also continue development of castor hybrid seeds program and farmer educational programs for promoting Good Agricultural Practices, resulting in higher yields of commercial castor seeds.
Jayant Agro-Organics Limited has been an ISO 9001 certified company since 2003-04 and the Company's 2 manufacturing units at Ranoli and Dhanora have achieved an ISO 14001 certification i.e. for environment management during this year.
We believe in the bright,long-term future of Castor Oil and the Castor Oil based Oleo Chemicals and will continue to make its best efforts to tap its immense potential and generate shareholders value.
Thanks to all my colleagues, employees, customers, vendors and shareholders who make us what we are.
With Best Wishes,
Abhay V. Udeshi
B.E. in Chemical Engineering, (MS University of Baroda). Has over three decades of experience in the industry and leads the marketing and sales of castor oil and castor based products. Involved with the development and growth of the Group.
He has had over four decades of experience in Castor Oil Manufacturing. Pioneer in market development of Castor De-oiled Cake and is actively involved in the groups backwards integration programme.
Five decades of experience in Purchase and Trading of Castor Seeds and Oil. He has developed an intimate knowledge of castor seed markets and farms.
B. Tech. in Chemical Engineering (IIT Kanpur), M.S., M.Phil in Chemical Engineering (Rutgers University, NJ, USA). Has over four decades of experience in manufacturing and projects related to castor oil derivatives . Oversees operations and projects.
B.Sc. in Chemistry (Mumbai University), B.S. in Industrial Engineering & MBA (University of Houston, USA). Has over three decades of experience and is responsible for General Management, Strategic Planning, Factory Management and legal compliances of the company.
B. Tech Chemical Engineering (IIT Mumbai), Ph. D. in Chemical Engineering (Rutgers University, NJ, USA). Runs the R & D center of the company to develop new products, new processes and new product applications.
Over 25 years of experience in factory management for manufacturing castor oil.
B. Com, F.C.A. Responsible for the management and planning of financial activities of the group. Actively involved in strategies and alliances of the company.