Yeah.
Please and gentlemen, as a requisite forum is present, I welcome you all to the 63rd general meeting of products in your Limited and appreciate your interest in being with us today. As this meeting is held by using video conference or other audio visual means more, I would like to take you through certain points regarding.
Adding participation at this meeting. The facility of joining the AGM through video conference or other audio visual means is being made available to the members on 1st come, 1st serve basis. Once the question and answer session starts, the names of the shareholders will be announced in sequential order who have registered as speaker shareholders.
Subsequently, the audio of the speaker shareholder will be unmuted by the host. To avoid any background noise and to ensure smooth conduct of the meeting, all the members who have joined this meeting will be placed on mute mode by the host. To start speaking, each speaker shareholder is requested to click the video on button appearing on the screen only once.
And wait till the video is on. Before speaking, you are requested to take note of the following points. Please ensure that there is NO noise at the background at your end and that you have a strong Wi Fi connection for the device you have logged in and NO other device is connected to the same Wi Fi. Please ensure that you switch on the video and have adequate background lighting.
You can speak through audio mode if you are unable to switch on the video. If there is any connectivity problem at your end, we may ask another speaker to join. Once this connectivity is restored, you maybe called again to join. Once the other registered speakers complete their turn, I would like to request the speaker shareholders to kindly.
Restrict their speech to three to 4 min. The questions raised by all the speakers will be answered after all the speakers complete their questions. During this proceedings of AGM, if any member faces any issue, he or she may contact the helpline number mentioned in the notice of the agent. Now please allow me to explain the sequence of the meeting.
And voting process for the resolutions. The company's act 2013 and listing obligation and disclosure requirement regulations 2015 provide for electronic waiting voting facility for the AGM. Accordingly, the company had provided its shareholders with the facility to cast their vote through the remote electronic voting system administered by C.
Facilitate to vote at the meeting is also provided to the shareholders who have not voted and scrutinize the votes cast at this meeting and through remote e voting as well.
This meeting is being held through video conference and other audio visual means and the resolutions mentioned in the notice convening this meeting have already been put toward three voting. There will be NO proposing or seconding of the resolutions. I now request our chairman says to conduct the proceedings of this meeting. Thank you.
Ladies and gentlemen, I welcome you all to the 63rd annual general body meeting of CCL products India Limited. As the requisite quorum is present, I call the meeting to order.
Before I proceed further, I request all the directors who have joined this meeting through video conference to introduce themselves. I executive Chairman of the company participating in this meeting through video conference from you.
Let's see. I request.
Four directors and shareholders. I'm. Independent director joining the 63rd annual general meeting from my residents in Hydrabad. I'm a, I'm the chairman of the audit committee. I am also a member of the NRC committee. Thank you.
Good morning chairman, directors and members. I'm. Independent director of the company participating in this meeting through video conference from the USA.
I'm a member of the audit committee and stakeholder relationship committee. Thank you.
Okay.
And here.
Yeah.
Good morning chairman, co directors, and members attending the AGM. I'm the independent director of the company, participating in this meeting through video conference from my office at Hyderabad. I'm the Chairman of Corporate social responsibility responsibility committee, and also a member of the audit committee and nominations and nomination and remunderation committee.
Nd.
I think.
You're on mute tech support.
Now, good morning chairman and members of the AGM. I am Kulsum not Independent Director of the company participating in this meeting through video conference from my residents at Delhi. I'm a member of the audit committee and Corporate social Responsibility com com committee.
Good morning, everybody, chairman sir, and the members of the board, I'm Lanka Krishnanan, Independent Director of the company, participating in this meeting through video conference from my residents at. I'm the chairman of stakeholders relationship committee and risk management committee, and also a member of audit committee. Thank you.
Very good morning chairman and also independent directors of the company, other directors along with the member. 1st, my name is. I'm independent company, participating in this meeting through video conferencing my residents in. I'm the chairman of nomination and diministration committee and also member of audit committee, risk management committee, and corporate social responsibility committee. Thank you very much.
Good morning chairman and members. I'm introducing Sheila Shantan Prasadman on her behalf, she is facing an audio issue and she's Madam is attending this meeting and she is also attending from participating from US. Madam is also a member of Corporate social Responsibility county meeting. Thank you.
Okay.
Non executive and non independent director of the company participating in the meeting from my residents at Hydrabad. I am a member in the audit committee.
Good morning chairman, other directors and members of the company. I Am. I am a non executive and non independent director of the company. I am also a member of nomination and remunderation committee, audit committee, sta stakeholder relationship committee, and risk management committee. I am attending this meeting from my office at Hyderamad. Thank you.
Good morning chairman members and directors. I'm Mohan Krishna executive director of the company, participating in this meeting through video conference from the corporate office of the company. I'm a member of the risk management committee. Thank you.
Good morning chairman, directors and members of the company. I am Challas, managing director of the company, participating in this meeting through video conference from the corporate office of the company. I am a member of the risk management committee.
Okay.
Thank you sir. I also confirmed the participation of chief executive officer. CF of the company, and the representatives of statutory auditors and secretary auditors are also presentation.
Thank all the shareholders shareholders for joining this meeting. We are holding this meeting in video conference in complaints with the circulars issued by the Ministry of Corporate Affairs.
For the information of all shareholders, the proceedings of this meeting are being video recorded and the live streaming is also being done. Electronically casted on the website of.
CDSL, the company has taken all the requisite steps to enable the shareholders to participate in the voting process on the items of the notice of this AGM. Since there is NO physical attendance of shareholders, the requirement of a.
Pointing proxy is not applicable. The registers as required under the company's Act, 2013 are open for inspection electronically. There is NO qualification in the Secretariat auditor's report.
In the statutory auditors report. With your permission, I take the notice of the meeting and the auditor's report as read. Now I would like to share few thoughts of the company.
And this future prospects. Ladies and gentlemen, I am extremely happy to share our achievements for the financial year 23.
24 and our vision going forward. 1st, I want to express my heartfelt gratitude to all of our shareholders for our, for your unwavering support. Your trust in the.
Cornerstone for our success and we reflect on our journey and set new goals. You have had the chance to review our annual report and audited financial statements for the financial year, 2020 03:24.
Which I will consider as red. Our key highlights for this financial year, a new spreadline plant has been commissioned on 16th of March, 2024. A holy subsidiary.
Of part and parcel of CCL foods and riverages. We have enhanced our technological capacity capabilities by redesigning our fuel system to utilize solid waste as fuel for our boilers and or also implementing advanced technologies like.
Paper compression system. Additionally, we aim to expand our renewable energy generation by argumenting our current .9 mW capacity. We are exploring options to set up a hybrid.
Wind solar model. I would like to touch upon our performance for the year 2024. Despite challenges like rising coffee prices and geopolitical tensions, we have delivered good results.
For consolidated turnover reach, our consolidated turnover reach rupees 2650 40000000 with the net profit of rupees 250 crores. The stand alone turnover was.
1450 60000000 with the net profit of rupees 950000000. You are already aware that your directors have board of directors have recommended a dividend of rupees, ₹4.55 per share, including the interim dividend of rupees.
These ₹2.55 shared.
A brief review of our subsidiaries, non coffee company Vietnam. I'm happy to report that the operating for us for about a decade. Non coffee achieved turnover of rupees.
1140 70000000 with the net profit of hundred and 450000000 in the year 2024. We are expanding the manufacturing capacity with a freeze died.
Plant there in Vietnam. Continental coffee SA Switzerland. This subsidiary reported a turnover of rupees 282 crows and the net profit of twelve crows. Our efforts to.
Secured local supermarket orders are gaining traction. CCL food and beverage is limited. The sound Indian subsidy has established a greenfield project for manufacturing spray ride instant coffee. It has commenced.
Commercial operations from 16th March 2024. Continental coffee private limited after demerging of a coffee business is now left with food and beverages kios, we foresee good future in this line.
In the Indian domestic market, our branded business continues to thrive surpassing the rupees 200 pro milestone. All distribution channels, general trade, modern trade and e commerce.
Are contributing to this growth. Our capacity expansion has been very impressive growing from 55000 metric tons per annum to 71000 metric tons in year 24.
We aim to in future to expand to 77000 floor by the year 2526. Position us positioning us as one of the largest private instant coffee plan private level instant coffee manufacturers in the world.
Actually significant in a market growing at a very low single digits. Looking ahead, we remain committed to strengthening our presence in the B to B coffee sector while building a robust B to C business.
Our ultimate vision is to transition CCL into a wide brand FC FMCG organization. The prices of green coffee are hardening and are on on all time high. The company is continuously monitoring the situation and is.
Taking all necessary steps to profitably deal with the situation. Your management is hopeful of delivering good results in this difficult situations also. In closing, I want to thank the entire CCL family, our share shareholders, employees, other auto outsourced resources.
Customers distributors, channel partners, suppliers, banks, government authorities for their continuous support. Regarding shareholders, your confidence is in us is invaluable, and we are dedicated.
In creating, lasting value. As we move forward, I assure creation of shareholder value and look forward to your continuous support. Thank you hear me?
Okay.
So if you permit I'll read out the names of speaker shareholders.
Yes. Thanks. Thanks.
1st share speaker shareholder. Arun Kumar.
Give me a moment ma'am, please. No. Kindly unmute and go ahead.
Hello? Hello?
Take an year.
Oh, greetings to everybody. I made an address ATM. You know why? I don't like the VC meetings, but in your case I should like the VC meeting. You're like Wali who takes the power of the opposite guy. I didn't want to lose my power so I came to address you out of, out of conviction, not like more your meeting for convenience.
1st I'd like to complement you for the X return that you gave and the high market cap in the three decades and for the value creation and more important last five years was terrible, but you survived being next to 30 Palace.
So I think it is like malaria negotiating with mosquitoes. I compliment you for that, so you're amazing as far as dealing with the government there. I know the history right from the day you came onto the public.
It was one month's lonely journey. It was because there was NO structure, it lost a plot and order and many years the sun did not shine and the wind did not blow. There was a risk of survival in existence with the risk of vanishing the thin there.
But you stayed in the ring to face the risk building the business year after year with perisevance realized the true value. Here again like you negotiate with the mosquitoes, like compliment you for that. Again is the power of one prasad. You met the challenges never quitting being the power of one decision making.
And you unfolder CCL as a champion of instant copy. Overcoming the barriers preventing losses, your success is publicly visible, not the cost. I know the cost that you paid. Again, I compliment you for that. You knew the way you went the way and showed the way.
And I think Eric Bern Thomas Harris and Peter Tricker are far behind you in the management techniques. But here I would like to come to the reality is history has always seen next growth. Companies arrive at the maturing end of the business cycle. What is the risk for CCL? The market is challenging with many new competitors.
We had an inflection point with burdening loans. The challenges, we have crossed the initial laps of growth and maybe a near saturation point at some point and how many of our customers have turned manufacturers, so we lose our customers too? Because examine, how long can we continue our low price point advantage? Are we.
Focusing on premium products and my questions, what is your risk appetite? Will you reduce exposure to high risk investments? What is the current debt? Maybe it's the HIGHESTL, how do you plan to retire the debt? What will be the surprise product in future? I know all trees don't go to the sky, but I would like you to come out with the product will grow to the sky.
And mismatch and availability of labor, workforce and the price at which they're available. What is attrition rate and what is the backup for a certain departure or death? With increasing instant coffee manufacturers, what is addressable instant coffee market? Will, what will be our pie?
And will it shrink in future? And what is the employee experience throughout their hire to fire to retirement journey in CCL? Because human resources are very important and we have to remain true to human values in the fast changing digital world.
And what is the impact of geoca political issues on coffee raw materials and prices? Now you have a professional CEO, so Q to K the Q to quarter to quarter, we call it so I'd like to follow that. I'd like your company segregated post meal figures quarter to quarter. What.
What are the plans for national distribution and national presence and are you entering new geographies and analyze your presence in existing ones? What is the total addressable market for local instant coffee? What are the investments in new variants of multiple price points? How do you re engineer costs and grow up these export business? Say less less plastic and less sugar than newer? What is actions? And my appeal to the independent directors.
Yeah, hey, but there's a lot of responsibility to take care of small investors and retail investors interests. Following. What are the steps in leadership accountability? What are the steps in succession planning? What are outcomes, what are the actions?
What get measured can be managed, so I hope you'll take some action. Lastly, australia occupation told me I didn't do the storage occupation because a lot of people miss guiding and I was doing it free, now I'm doing for charity for a building cancer hospital in Hyderabad.
And my journey has been great discovery and this discovery various mysteries because of lessons of self thought and God are in to enhance welfare, to create positive image. In. You have historical burden to take care of our 3000 plus families and more.
Or what others expect of you is to be dealt. Closing on a lighter note on communication. Tell him his heart is good, it will last as long as he lives. Thank you very much. Wish you all your best.
Thank you. Thank you. Is there anybody else? Yes sir, there are totally 16 speakers.
Now I'm going to announce 2nd speaker.
Give me a moment please not present in the meeting. Okay.
Present in the meeting. Just give me.
Hello? Good morning sir. Sir, 1st question here coffee pay prices. Foreign country.
C.
All shareholder almost shared value at 7600 bonus cases.
Interim dividend final dividend.
I'll put some.
What.
Sir.
May both both down.
Department.
Hello? Hello?
You see.
Capital? Thank you.
Okay.
So next speaker shareholders.
Okay.
So can speak.
Good morning sir, am I audible? Yes yes, please go ahead. Good morning chairman and all the board of directors. So 1st of all, thanks for the opportunity and it's great to see that their B to B company out of India has been scaled up globally to be one among the top three in terms of.
Instant coffee manufacturing, so 1st of all, I think the huge right for India itself. So just coming straight to the questions, just a couple of questions from the side. 1st on the B to B side since we have scaled up our capacity over the last three decades.
And now with the even the current greenfield capacity has been so next 05:10 years, what should be the growth mention the should be looking from the B to B side, either it's going to be a cash flow generating part or.
Management will further enhance the capacity going forward. That's 1st my question. The 2nd question is on the related to the comment that has made in terms of vision of the company to be a full fledged FMCG company in the coming decades. So recently I think we have.
Piloted some businesses on the plant based meet and then we have recently put up cafes or for the coffee. So, if you can just share a broad strategy in terms of selection of products that the company will be entering because the FMCG as a sector is very competitive and there are a lot of existing mncs and domestic companies are there. So how does the company plan to enter differentiated products within the segment and things.
So broadly the vision to evolve to the so if you can just share some insights into how should look at it will be helpful. Those are broadly two questions from my sides and all the best to the entire team for the coming financial year. Thank you.
Thank you. Next speaker Mohammad Absolali.
Give me a moment.
Yeah.
Mr. Absolu kindly unmute and go ahead.
Okay.
Hello? You can hear me? Yeah, yeah. Hello.
Yeah, you can.
Can you hear me? Yes, you're already. Yeah, thank you for giving me this opportunity. I am very grateful that I'm the CCL product shareholder. This is a 63 AGM I think so. Sir, you're going very well and share price also is increasing and the brand you are selling I have purchased in Hyderabad also.
Nowadays it is valuable before it is one one place one offer is there, now we have to purchase only one, not an offer. Please see that offer will be done next time sir? Because your provider coffee is very good sir compared to the another coffee.
I'm using it at my home. Sir, the company security has given the link and before time and the annual report also I have received the security part doing very well His job. I'm very appreciate.
Since ten years I'm seeing that Madam, he's doing his job very well and this is the right way you have choose that online meeting the physical meeting, the many shadow has coming if they have not to bringing another person's shares and taking the gifts.
It is going very, I'm, I want to, I don't want to tell the names what they are doing miss misuse. This is the right way you are doing. Don't do physical meeting sir next time has given the rules, please follow these rules continue only, please next year also we go to online only sir. Thank you for giving this opportunity. Thank you sir.
Thank you. Next speaker Vinod Agarwald.
Just a moment.
Yeah, kindly on mute and go ahead.
Hello, can you hear me?
Yeah, we can hear you. Yes yes.
Yeah. And good afternoon and good morning in regards to everyone. So I voted for all the seven relations.
The revenue at the 2660 were up 29 % over the previous years 2020 2074. The pat also has been was a little less due to higher input cost of coffee and other.
Thing and even the finance cost I think so i've gone up with this year sir. So what I marked in the annual report is my observations is that there's a current working progress of finding growth, which I think so it's mostly in the subsidy because the standalone doesn't show that it will kind of current work in progress. It would be in the I think so it would be in the.
And gone subsidiary so I'd like to know what is this finding going into and said we have done a merger demerger the dividend you have paid is 50 % that the merger demerger into continental coffee private limited, which already.
The subsidiary of a company, but that subsidiary has been making losses and has a negative network. What will be the impact overall on the balance sheet of our main company I'd like to know and the CSS the work you have done very very good sir. You have spent 4.91 against the mandate of only 3.98 corals that was there, so you spent much more.
Then the amount that you are required to spend by about 90 to 9300000, which is good and I'm helpful to and mr. Lakshy for helping me join today. I know the otherwise from Mumbai, thank you for giving me time to speak sir. Thank you.
Okay.
Thank you Vinoji. Next speaker Minal Bang.
The is not present in the meeting.
Next speaker.
Mr. Abhishek kindly unmute and go ahead.
Yes madam. Can you hear me? Am I audible? The of annual general body meeting. So trust all is well with you and your family. In this challenging situation, a company deserves much more respect than the current market cap after completing for more than a decade of successful operations for profitability, during history and becoming one of the strongest brand in the respect.
As of date, how many employees are there in the company? What are the steps being taken by the management? Myself and my team are running a legal firm, the name and style of seven was associates, so I would request the management to find the enroll the firm.
In the environment of the company and we will be glad to extend our services sir. So then the company has a good very good corporate governance practicer I do appreciate the management for that and we can see we are really thankful to the entire board of directors for the sincere efforts in bringing the company to this particular extent and rewarding the minority shareholders input numbers and we can be.
That we can see that your hard work is translated into numbers and we are able to see in the markets and we are able to derive the ports today. So the kindly consider hybrid at because most of the seniors are not able to join because of the digital challenges of these virtual platforms, if you can consider hybrid at more number of servers can join to the meeting, you can get the valuable points and ideas that will be helpful for the management.
In future. So please kindly consider sir and nothing much to answer, but I would also request the man to highly take care of the hospitality part of the we are missing those physical atmiss, five years back and this is the 5th year we are meeting virtually, we are not able to meet you physically, so we we need to meet you and greet you sir to finally give us an opportunity and nothing much to answer.
And the board of directors, a great success and prosperate in the coming future and thank you for giving the opportunity. Who is the subsequent speaker. Good morning respective chairman, board of directors, secretary and his team, and my fellow shareholders. So I and my family are proud shadows of the company from the data of IPO.
I request the management to reduce the expenditure as cost cutting effective wherever possible. I request the management not to take away maximum profits into resources and also consider bonus issue to shareholders. If not.
Okay. The only agreements of shareholder is expecting better during and appreciation of share price. What are the future expansion plans? How are we going to withstand the tough competition? I wish all great success. I wish our company will touch sky heights.
The management with great efforts and hard work have established our company. The corporate governance is wonderful. The profits are increased. It's a joyous moment. All credits goes to the management. So it's the right time to reward the shareholders sir.
I hope the management will not let down the shareholders who are stood behind and think. Also, please consider the hospitality path or the shareholders sir. I thank the management for giving me the opportunity. Thank you sir.
Thank you Jay, thank you. Next speaker shareholder P Gopalji.
Mr. Gopal kindly unmute and go ahead.
Yes sir.
Yeah.
Supermarket may launch career.
Or continental coffee lunch of the E.
Buddy buddy company youngo, profit downward coffee sec sectory. Maybe take part or coffee companies maybe shareholder parent with.
Or market share coffee. Premium products after public five year.
Samples provide courage your shareholders meeting or participate, your premium coffees, your new products, your launch. Or, yeah?
Physical meeting. Thank you very much.
Thank you. Next speakerholder.
Oh, Vandanama is not present.
Okay, next speakerholder is.
Just a moment, but is also not present. Okay.
Next speaker shareholder Prakash and Galadaji.
Just a moment, not present. Okay.
Next speaker shareholder AB. Just a moment.
Mr. Manishandra I'm kindly unmute and go ahead.
Hello, I. I'm kindly unmute and go ahead.
Ah, hello? Now I hear my wise sir. So my name is. I'm very happy to attend this meeting by means of a video conference because I am from and also.
I am appreciated what I have invested in CCL product. It will be growth yeah big three and also I welcome this Asian chairman, Board of director.
He is given good service and also helping to all the shareholders, very happy sir. And the requesting.
What is the plan expanding in next year in the future under small shop also should be contained with CCL product sir. It is very, it is my.
Requesting for to be developmental business in a small shop also should be t shop coffee shop, and.
All star models all should be contained with the product, very happy sir. Please consider hospitality of shareholder. We have met before COVID, more than five years. And what is the future plan? Expanding our new brand.
Should be in. We supported all the nature, always be voted back to the board decision. We support all the resolution sir. Thank you, thanks a lot. Please consider hybrid meeting in next year. Please consider hospitality. Thank you, thanks a lot sir.
Thank you. Next speaker shareholder.
Mr.. And go ahead.
Hello?
Thank you.
Chairman sir.
Hundred percent production starter career production, but.
The teacher program.
Thank you.
So marketing department go.
More more and more information there, the security departments everywhere or last time correct division dispatch ok.
Yeah.
Thank you Prakulji, next speaker Shareholder.
Mr. Baratha is she kindly unmutant go ahead.
Yeah, very good morning mr. chairman. And how are you sir? I miss you so much. When she's physically we can meet you personally, at least next year we'll have a physical and hybrid motion who can attend the VCR and who can come the physically come. I support all the resolutions that there is NO questions today I thank my security department and.
Once again. Thanks for the and I'm happy sir. You donated to the government recently this this wonderful sir. You're always a great one to support the CSR goods sir. Once again, my best to assist you all the best for coming years, take care sir. Thank you very much.
Thank you Baraji, sir, all the speaker shareholders have completed asking their questions.
So what we will do, I will answer most of the questions collectively, ok? See if 1st, see, Arun, we have thoroughly always we examine any.
Project or any activity before we really take it up. See on the business one, we operate on a cost plus model and buy the raw material only back to back. Therefore, covering of any inventory risk is normally it is very negligible.
See as far as your question on the debt is concerned, frankly, for a company of our size and what we really look at, see the expansions what we have done, see now the long term debt is only 670 80000000.
And the other one is a working capital that will automatically, you know, whenever we are using the raw material because of the orders it will nullify. So there is NO risk on the working capital. See this debt also.
In next maximum three to five years, all the debt will be completely cleared. The working capital limits which is linked on a day to day business operation. So that should not be a major issue at all. Regarding the innovation.
Of the key driver, how we dial see detailing it is frankly it is very difficult for us to discuss in an open forum, you know what the problems will be. See, and you're talking about mismatching in the availability of workflows and the price.
Available. See, in our structured way of recruitment, we have not faced any labor issues at all because we only take if there is any requirement, we always take and there should not be any long term, any problem. We have always been, see if you look at our instant config manufacturers, if you are thinking you're saying, see more than 50 %.
Excess capacity for not only here, see worldwide, there is always a capacity increase always there. In spite of that, if you look at for the past several years, we have grown on average for the past 30 years we have grown. How did we grow? Because we keep on adding.
Markets in different countries, a client who has been buying, maybe we started buying for a hundred tons, the same client started buying in this past 2030 years he became thousand tons. So for them, we keep on expanding.
So we have, we are very, very less risk taking company. You're talk about exceptional employee experience. See, and then hiding also most of our employees.
Are with us since the inception, so that this itself shows our commitment towards our employee's relationship, and also see the impact of the geopolitical issue what you have told in spite of various geopolitical issues, including red Sea issue.
Those wars, come commodity prices, fluctuations, slowdown in certain economies. We adapt to changing circumstances very quickly and we have ensured that the sustainable growth is always there. We plan much ahead, so that's why all these things on the long term, see if we can, our company is never taken on a quarter to quarter basis. If you look at the yearly basis.
Then everything will fall whatever we have planned, it will easily come into force. Also, so when we are talking about utilization, we are consuming 25 % of our power requirement at EOU.
In the form of renewal energy and we'll explore to increase further our in the due course. On the same lines, we are evaluating options to increase our dependence on renewable energy in other units as also.
Our national distribution, we have already started to expand our network nationally. We are right now mostly in the southern states and slowly we are going there also. So one step after that we will be doing quick, most of the other things we will be following it up.
We are also in the investments of variant you have asked for variance of multiple price points. Considering our coffee expertise, we are available in all segments and supporting the new initiative through the above line and both above line and the below line, we have been active.
And your re engineering cost and growth of export business, our efficiency in our key driver. However, detailing it out openly in an open forum, it will be determinal to all the shareholders.
Regarding the the questions you had for the independent directors, see, we take all stakeholders under CCL umbrella. So a stitch in time, you only said that, you know, we, there is NO reason for us to.
Nowhere we fall. We always are together. That's the reason we have been growing year on year. So, it I'm sure it will continue. Arun I hope I have answered most of your questions if there are any specific, so please get back to us. We will definitely reply.
Yeah, your question. Trust all is well with you and your family. See, we have noted all your thing. There is NO seasonality in our business. So growth triggers remains.
Similarly throughout the year, our growth triggers are largely about acquiring new customers, entering into new markets, into the newer markets and aggressive growth in the domestic market. See, domestic market also we just started. Actually, we just started about two years seriously. So one after another.
To add and we are very, very confident next to three to five years, you will see tremendous amount of advantage for CCL in the domestic market. You all know that we have such fantastic products. So we were lacking only. Slowly we were entering because being a very conservative company, we were doing on a stepwise, we are just putting baby steps, we are confident that we will achieve.
Whatever is required in the future, we will do our best. Production capacities and all that, you know, it is very difficult to give the openly because of our own competitors. So whatever the utilization.
Any expansion, we 1st try our best to sell as much as possible. Then only we keep on expanding. Yes, sometimes because of the products, because of so many issues, there will be initially only there will be, yeah, 20 to 25 % to to start with.
Slowly it will increase in a year's time, we go to more than 3rd year we normally go into 50 to 60 % capacity. We that's the reason if you start, if you really look at our capacities from 3000 tons per year.
CCL when it started in 1995, now, 70000 plus, it is unheard of any instant coffee company in the world. So we are confident that whatever we are taking, we are doing very, very carefully, we are confident we will achieve all these things.
Regarding the employee sacking and the salaries and all see we never sack any employee Till date nobody is sacked, maybe one or two guys must have gone. Otherwise we don't sack. Our policy is not there, and there is NO salary cut also Till date we have never cut anybody's salary. Innovation.
In our key driver, so however detailing in outage again as I told you it will be very, very difficult for us to to question that. See cost hospitalization is a constant endure. We keep on doing whatever possible to see that where do we, we cut costs. Somebody else also asked the same thing. There is nothing. We compare any, any company.
In our size, our costs are very, very minimal. So we do everything possible to save every rupee. So regarding any financial questions or I will request the CFO mr. Lakshmidda Ryana to answer any specific questions are there, please kindly ask.
Three day?
Yes sir.
Find out if there is anything specific.
So there are.
Thank you sir. There are a couple of questions have been raised by the few shareholders about the deck part and the finance cost and the focus on reduction of the expenses and all. So as you rightly stated sir, working capital is backed by the volume of the operations, so it is almost it is a liquid position always.
And that cannot be really taken up a dead party concerned about the town loans as everybody knows that we are taken up a couple of projects, one in India and one in Vietnam, whereby we have invested almost a hundred million, total capital outlay. So.
For the total hundred million we have contributed our part of the amount and because of that, and the 2nd is that as we all know that from April 22 onwards globally the interest rates have gone up. So, because of this reason and.
Increase the volume of the working capitalization, the interest cost has gone up, but now the slowly we have completed both the projects and has started the operations going forward it is going to reduce further from the current level of the debt and as well the finance costs are going to be reduced.
Regarding the focus on reduction of the expenditure, it is our constant endeavor to focus on from continuously to wherever best possible to keep reducing the expenses and which will support for the betterment of the bottom line. So request the to take it forward.
Okay, see if there is NO other questions, find out. Yes, sir.
So if there are any questions of shareholders, we'll answer themselves if they make to us. Most of the questions have been answered.
Now I would like to authorize the company service secretary, this is to conduct the voting procedure. E voting will be open for the next 15 min and the results will be announced within 48 h.
From the conclusion of this meeting and will be intimated to the intimated to the stock exchanges, Uploaded on the website of the company and also on the website of C D S L. I thank all the shareholders.
For taking the initiative for joining the meeting through the video conference and also the working with us patiently to conduct this meeting.
I thank all the directors for joining this meeting from different parts of the world, with the, with your concerned and other board members who would like to leave the meeting. Can you please.
Propose a vote of thanks.
As we conclude our annual general meeting, it is my honor to extend a heartbelt vote of thanks to our esteemed chairman. For conducting this meeting.
I also thank you sir, for your unwearing commitment to our organization. Your ability to engage with all members and address their concern has been invaluable. I I also participated in this meeting and made this.
Hey James is a memorable one.
Thank you Wonarda.
Thank you, sir.
Thank you everybody. Yes.
Thank you. There you go. Thank you all sir.