Your directors are glad to present below the management discussion and analysis for the year 2024-25:
Overview of the Industry Structure and Developments:
The agriculture sector continues to be the largest source of livelihood in India, positioning the country among the worlds top producers of agricultural and food products. According to the Economic Survey 2024-25, agricultural growth remained stable during the first half of FY 2024-25, with the second quarter registering a 3.5% growth ratean improvement over the previous four quarters. India continues to cultivate a diverse mix of food grains, cereals, and other crops, contributing significantly to the global agri-food supply.
Recent data from the Department of Commerce indicates that both agricultural exports and imports touched new highs in the financial year ending March 31, 2025. Agricultural exports were valued at approximately USD 51.7 billion in 2024-25, rising from USD 48.76 billion in 2023-24, reflecting consistent export performance.
Source: Ministry of Commerce - Trade Statistics
Indias animal feed market also demonstrated significant expansion, reaching a size of INR 1,110.0 billion in 2024. It is projected to grow at a CAGR of 6.9%, reaching INR 2,025.1 billion by 2033, indicating long-term growth prospects for livestock nutrition and feed manufacturing. Source: IMARC Group - Indian Animal Feed Market
The primary destinations for Indias agricultural exports include Bangladesh, UAE, USA, Vietnam, Saudi Arabia, Nepal, Malaysia, and Indonesia, with additional demand from Iran, Egypt, Iraq, and China.
Looking ahead to FY 2025-26, the outlook for agricultural exports remains positive, driven by:
Improved global demand,
Government incentives and export promotion schemes, and
Expectations of a favourable monsoon, which may help reverse recent weak sentiments in the sector.
However, the sectors continued dependence on monsoon conditions remains a critical variable influencing agricultural output and sentiment.
The management of your company remains proactive in identifying emerging markets and new high-potential products in both domestic and export segments. With strategic planning and market intelligence, the company anticipates a strong volume of business in the coming year, aligned with the sectors favourable outlook.
UOL Business:
During the year under review, export sales contributed major role in source of income in total revenue of the Company. The export activities were focused on broadly on cereals, animal feed ingredients whereas domestic activities were focused on cattle feed and other animal nutritional products. Cereals and feed ingredients were the major contributor the export sales during the year under review. Your Company identified the demand of above products and has been focusing on its exports mainly on these. Further, your company is working to identify more such high demand products and is hopeful of developing a good market base on international level.
This year, the total revenue of the Company decreased by 26% compared to the previous year. Export turnover of the Company decreased by 54.71% compared to the previous year. This shortfall in exports is primarily due to changes in tax policies and tariffs in other countries, as well as the ongoing war situations.
Here is the line chart showing Indias soymeal exports from FY 2022-23 through early FY 2024-25. You can see a sharp peak in FY 2023-24, followed by a decline in 2024-25, reflecting a slowdown in demand and pricing competitiveness.
This chart clearly shows the surge in soymeal exports during FY 2023-24, followed by a drop in the Nov 2024-Apr 2025 period, indicating a cooling trend as global competition and pricing pressure impacted Indias export volumes. Growth has since cooled off due to competitiveness issues and stricter export bans. Indias cattle-feed volume exports are heavily dependent on price advantage and export policy environment; both need close attention moving forward.
Indias oil-meal export composition for Nov 2024 - Apr 2025:
Soybean Meal (Cattle Feed): ~59% of total exports
Rapeseed Meal (RSM): ~41%
De-oiled Rice Bran: 0% (exports banned during this period)
Despite these challenges, the Companys net profit has increased to Rs 1054.15 Lakhs, registering a growth of 66.23% compared to the previous financial year. The Companys gross profit also reached Rs 1387.28 Lakhs, registering a growth of 62.41%.
The export activities were majorly focused on cereals, animal feed ingredients whereas domestic activities were focused on cattle feed and feed supplement & other animal nutritional products. Rice, Maize, Soybean Meal/Extractions and, Barley, RSM and De-oiled Rice Bran were the major contributor to the export sales during the year u nder review.
Our management has been continuously working to identify and select new products and markets. We are also focusing on developing new markets in Gulf and Middle Eastern countries. Further, the management anticipates good volume of business in year ahead.
Opportunities:
The advantage of your company is its 33 years of experience in the sector of agricultural produce exports that has created a trust among its customers worldwide. The management policies are aimed at satisfying the requirements of the present customers while adding on new pool of customers, products and markets. The company is continuing to manufacture and supply cattle feed and animal feed supplements under the brand name ROHINI with an aim to tap the domestic market and diverse its portfolio.
Your Company is also supplying feed products to reputed milk producing companies in Rajasthan as well as adjoining states on contract basis and joining hands with new entrants in the dairy field.
Your company is hopeful of positive results in the exports and domestic market on the basis of:
Productive and effective leadership having a dedicated and committed team.
Following the ethical, transparent and clearly defined business practices.
Strong buyer and seller base - enhanced competitiveness.
Positive reputation among the buyers and the sellers worldwide.
Utilization of in-house manufacturing and testing facility. For ensuring end to end services to our customers
Exploring new markets for food & feed products.
Strengths Driving Future Growth
Your Company is optimistic about its future growth in both domestic and international markets, based on the following strengths:
Visionary leadership and a dedicated team focused on results.
Ethical and transparent business practices aligned with long-term strategy.
A robust buyer and seller network, enhancing competitiveness.
Reputation for quality and trust among global customers.
In-house manufacturing and quality testing facilities to ensure seamless service and product integrity.
Continuous efforts in exploring new markets for food and feed products.
Risks and Industry Challenges
Given that the Companys core business lies in agricultural products, it remains inherently exposed to several unpredictable and uncontrollable risks that may significantly affect its performance:
Climatic conditions, including monsoons and weather variability.
Government export policies and changes in fiscal regulations.
Price fluctuations in agricultural commodities and currency exchange volatility.
Global and local demand-supply dynamics.
Shifts in purchasing behavior and pricing trends.
Geopolitical developments, both domestic and international.
Foreign trade policies of India and importing countries.
Currency fluctuations and trade restrictions.
The performance of your Company must be assessed in the context of these external political, economic, and market conditions, which are beyond its control but integral to its strategic planning and risk management.
Segment-wise performance:
a) Business (Primary) Segment
The Company operates in a single primary business segment, namely, Feed, food, herbs and Spices products, and hence there is no reportable primary segment as per AS-17 on segment reporting.
b) Geographical (Secondary) Segment
i. The company primarily operates in India and overseas and therefore the analysis of geographical segment is demarcated into its Indian and Overseas operations as under:
Particulars/ Revenue (Gross Sales) | F.Y. 2024-25 (Lakhs) | F.Y. 2023-24 (Lakhs) |
India | 6490.10 | 1639.35 |
Overseas | 8366.05 | 18471.29 |
Total | 14856.15 | 20110.65 |
Refer Note-34 to P&L for more details.
ii. Non-Current Assets: All non-current assets other than financial instruments of the company are located in India.
Outlook:
Business Environment, Risk Outlook, and Mitigation Strategy:
The business environment continues to present a dynamic mix of opportunities and challenges, encompassing potential gains as well as inherent risks. In a liberalized and competitive market, macroeconomic fluctuations and sector-specific factors are often beyond the Companys control. However, to navigate these uncertainties, the Company actively engages in market research, trend analysis, and forecasting techniques to anticipate risk scenarios and implement proactive mitigation strategies.
The management remains optimistic about continued growth in both the export and domestic markets. With focused efforts on expanding product offerings and geographic reach, the Company is positioning itself to capitalize on emerging market demands. At the same time, we are committed to adopting a balanced and cautious approach to risk, ensuring sustainable growth with minimal exposure to external shocks.
Our Internal Audit Controls and Risk Management Policies are consistently reviewed and updated to reflect evolving market dynamics and ensure compliance, agility, and resilience in our operations.
Risks and Concerns:
In the normal course of business, the Company is exposed to a broad spectrum of risks, including but not limited to:
Commodity price fluctuations at national and global levels
Foreign exchange volatility
Legal and regulatory changes
Market and credit risks
Liquidity challenges
Changes in government trade and fiscal policies Given the volatile pricing environment and overall market liquidity concerns, the risk of customer defaultsboth domestic and international- remains elevated. To address this, the Company has implemented stringent buyer verification protocols and has adopted trade credit insurance policies to safeguard receivables and minimize credit exposure. To effectively identify and respond to such risks, the
Company has established a comprehensive Risk Management Policy. This policy outlines:
Standards for assessing potential risks
Evaluation of risk probability and impact
Action plans for timely mitigation and control The policy also mandates periodic reviews of operational areas, enabling the management to take informed decisions and adjust strategies to minimize the impact of known and emerging risks.
Internal Control System and their adequacy:
Our organization operates on a foundation of strong ethics and professionalism. To address the complexities of business development, we have established internal frameworks that facilitate task completion in a professional manner. Each member of our team has clearly defined roles, which are regularly reviewed and monitored as per the given environmental factors.
Human Resources:
Company strongly belief that employees are the assets of the company, your company is committed for proper utilization of its human resources with an aim to achieve professional excellence and sustainable mutual growth.
Cautionary Statement:
Statements made in "Management Discussion & Analysis" describing projections, companys objectives and planning may be somewhat forward looking within the meaning of applicable laws and regulations. The Actual results might differ depending upon prevailing trends, international business scenario, government policies, demand and availability of products and government support by means of direct or indirect assistance for export of products from time to time.
Acknowledgement:
We have implemented an Internal Audit Control system designed to assess and enhance the effectiveness of risk management and governance practices. This system ensures adherence to established standards, thereby improving organizational performance and providing a competitive advantage by minimizing avoidable costs.
Financial and Operational Performance:
During the year under review, the Company recorded a total revenue of Rs.15,123.34 lakhs, compared to Rs.20,438.10 lakhs in the previous financial year, marking a decline of 26%. This reduction was primarily driven by a significant drop in export turnover, which contracted by 54.71% year-on-year.
Despite the decline in revenue, the Company delivered strong profitability, with net profit rising to Rs.1,054.15 lakhs, reflecting a robust growth of 66.23% over the previous year. Similarly, the Companys gross profit increased to Rs.1,387.28 lakhs, registering a year-on-year growth of 62.41%. These results underscore the Companys operational resilience and cost management effectiveness in a challenging market environment.
Your directors express their sincere thanks to Central and State Government departments, Banks, foreign buyers, suppliers and all stakeholders for their cooperation and encouragement they always extended to the company and look forward for their continued support. For the continuous support and meticulous efforts of Dealers, Business Associates and employees in ensuring an all-round improved operational performance, your directors wish to place on record their sincere thanks and appreciation.
By order of the Board of Directors of Directors For Unique Organics Limited
Sd/- |
Sd/- |
Jyoti Prakash Kanodia |
Madhu Kanodia |
DIN: 00207554 |
DIN:00207604 |
Managing Director |
Director |
Jaipur, August 13, 2025 |
Registered Office:
E-521, Sitapura Industrial Area, Jaipur-302022 (Raj.) India Phone No. +91 141 2770315/509 Email: compliance@uniqueorganics.com CIN:L24119RJ1993PLC007148
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