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Ladies & gentlemen:
Indian economy has bounced back from bitter to better times with several of the macro economic factors recording remarkable resurgence. GDP is on robust.

I mentioned that last four years, world sugar production after scoring a surplus for four consecutive years might return to the deficit phase in 2014-2015. In season 2015-2016 would mercifully mark the beginning of the deficit phase, the degree of decline wouldn’t be decisive enough to kick-start a meaningful rebound in sugar prices.

But season 2016-2017 challenging year for sugar industry due to short rainfall in 2015-2016. Season 2016-2017 sugar cane production is less 30% than season 2015-2016. For the Indian sugar industry sustained government initiatives to keep prices under control & stocks in a comfortable position will play an important role in ensuring continued momentum. Other vital parameters that will determine the industry future course are timely payments to farmers at reasonably remunerative prices taking satisfied servicing bankers.

Shri Balaji sugars & chemicals pvt. Ltd., Yaragal company took trial season in 2014-2015 crushing capacity 3500MT crushed sugar cane is 77206.882MT, produced sugar 8045MT.

Company took first season in 2015-2016 crushed sugar cane 400586.462MT sugar produced 43525.10MT. Also co-gen in season 2015-2016 produced electric city exported 12.28MW.

I am indeed thankful to our cane farmers who have to bear the brunt of the financial distress of the industry. They have shown almost understanding and restraint during a difficult period. I thank our Bankers for their steadfast support towards funding our credit requirement despite deteriorating financials for reasons beyond our control.Our employees in all ranks have displayed full confidence in the management and admirably responded to operational challenges.

I must thank my colleagues on the board for their wise counsel & guidance

Thank You,

Mr. Hanamanthgouda S Patil
Chairman.