We are pleased with the financial and operational performance that our Company has performed due to a higher demand for premium organic products. The agriculture sector in India is expected to generate better momentum in the next few years due to increased investments in agricultural infrastructure such as irrigation facilities, warehousing and cold storage. We expect to further increase our cultivable land by expanding across geographies and enhancing our market share. In the third quarter for the financial year end 2018-19, our Company registered an excellent revenue growth of over 90% as compared to same period last year. This was mainly on back of good demand & growing acceptability for organic food particularly in rice, Aloe Vera, organic fruits, vegetables, grocessaries. Moringa & other segments. There was rise in export orders across segments. EBIDTA and PAT after minority interest also grew by over 60% and 55% on account of improving operational efficiencies and higher demand for premium organic products. In addition to our existing capacity, we have also started business of organic basmati rice. This addition to our product portfolio will not only boost our overall revenue and profitability but also help us to cater more and more into domestic and international markets. Our Company bagged another prestigious order from Rebat Al Houda Trading Est, Dammam, Kingdom for 600 MT of long Gain Crème Sella Rice in addition to Innovative cuisine for cultivation supply of long beans. Innovative cuisine continues purchase of cluster beans for exports. The total revenue expected from the current rice contract would be approx. Rs.25 Million per cycle. The initial scalability of business of rice in international market is approx. Rs. 500 Million. In additional to the current business activities of the company. Further I would I like to add that our Company have shown a drastic growth trend and we look forward to riding this wave of progression and facilitating a fruitful & productive year ahead. Considering this, the Board of Directors have approved the Bonus issue of equity share to our valued shareholders. We are focused on strengthening our reach and increasing availability of products in line with customer preferences. We are confident that the efficient execution of our strategy will translate into sustainable and responsible growth. As more and more awareness is created, India will see a strong shift towards organic food with growth driven by acceleration in health consciousness, customer spending and huge opportunity lying within the unexploited organic sector.
The Company constantly endeavour to increase leased land under cultivation and strengthen relationships with esteemed clients. I thank the entire team of ‘White Organic Retail for their untiring efforts, hard work, sincerity and high dedication. Also, I would like to thank our valued Shareholders, whose support and faith in our Company along with their critical inputs has given us the determination and ambition to grow from strength to strength.”