MONTHLY NEWSLETTER
Developments and Upcoming Events
s 
Professional
Development
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Tech Times Issue 00 Month Year
It gives me immense pleasure to bring to you the maiden issue of Amazan Newsletter. The forthcoming issues
will feature articles on developments at Amazan, industrial analysis and overview, opinions and the latest in
related fields, amongst others. More and more participation from the members of the Amazan family is
solicited to make the newsletter a grand success and truly reflective of the Amazan family. The entries would
be published in the newsletter and one of them adjudged and acknowledged as the best amongst all
 Annabhog Popular and Annabhog Premium Non-Basmati rice launch.
Annabhog Popular and Premium rice in the non-basmati segment is all set to
make its presence felt with its launch in Kolkata region in the initial launch phase.
MEGGA value added eggs in market soon.
MEGGA will soon bring to the consumer’s breakfast table Vitamin rich eggs and
semi-organic eggs.
. Is Change Overdue! P.3
Mudita Shah
Amazan Agro Products Ltd.
Infinity Infotech Parks
Tower-1, 2nd Floor, Plot No. A3, Block- GP,
Sector- V, Salt Lake City ,
Kolkata-700091
Tel: +91(33) 4013 2300
Fax: +91(33) 4013 2399
Visit us at: amazaninternational.com
IS S UE
01
JAN
2011
AM A Z AN ’S W EB P OR T AL
Amazan Agro Products Ltd. made
public ,its web portal in Nov.2010.
The vibrant and dynamic web
portal, developed in collaboration
with PricewaterhouseCoopers, is a
comprehensive information source
about the company and also
facilitates a direct link for putting in
queries. PwC also conducted a
training session for web portal
management and administration to
those who would take over the
responsibility of updating the portal
on a dynamic basis.
At Amazan we believe in keeping
abreast with time and technology.
The very preference of a web portal
over a conventional website
endorses this very belief.
The portal can be accessed at
www.amazaninternational.com
Ushering into the New Year 2011
Managing Director’s Address
“Innovation skills or I-skills is all about being
creative to be able to stay ahead of competition”,
says Robert Tucker, an internationally recognized
leader in the field of innovation. Innovative
management is being embraced as the latest
concept in the corporate world. Driving growth
through innovation is in. Endorsing similar beliefs
and providing motivational impetus, Managing
Director of Amazan Agro Products Ltd., Mr. Joydeb
Garai, ushered us into the New Year 2011.
Addressing the members of the Amazan family, he
reiterated his vision to develop a holistic and
efficient business model for Amazan Agro
Products and Agri Business Supply Chain, and
urged all to dream big.
Some Excerpts:
“There is nothing stopping us from growing, but
the need for right strategy & its execution with
real hard work. We are in the process of
developing our Food & Agri Business Supply Chain
strategic road map for the next five years in
consultation with KPMG, that the Company will
follow in an attempt to reach its objectives. This
road map will be the result of strategic planning
analysis and survey that considers short, medium
and long term goals for our company. This will
also act as a guide for our execution team,
specifying exact action that must be taken in order
to obtain Company’s objectives.”
this issue
Ushering into the New Year 2011 P.1
In Conversation With P.2
Amazan Capital: Private Equity P.4 & P.5
Integrated Poultry Hub P.6
The Growing Amazan Family P.7
Developments and Upcoming Events P.8
Emphasizing the essence of ideas in today’s
world, Mr. Garai stated “Ideas are the Real
Capital, Rest is just Money. In fact ideas are the
real currency in the Twenty first Century.” His
belief in innovation and differentiation being as
one’s strength, came across clearly as he
quoted” You cannot stop an idea whose time
has just come”. He called upon to stand out
from the crowd and refrain from being one
amongst many. At the same time emphasizing
on the need for consistency and reliability of
product and service offered to the consumer.
“Dream big for dreams are seedlings of reality”
he quoted Napoleon Hill, the author of all times
classic, “Think and Grow Rich”. Seedlings are
supposed to be planted so that one day they
may bear fruits.
Even as we further our attempts to sow for the
future and make dreams the blue prints of our
ultimate accomplishments, he urged the need
to equally look back, “Open your eyes and look
at the fields. They are ripe for Harvest”.
 In Conversation With
EYE ON IT
Amazan celebrated its Foundation Current Industry
Day on 22nd of Jan. We got into Trends
conversation with some, asking
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TH E I NT E RC OM P A CT A
Amazan has been so far. SIduis enim consequat genitus at.
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commov.

Sitting in the conference room during the induction period, to meet the objectives and goals that Amazan has
listening to presentations on topics varying from envisioned.”We are trying hard to build a good team for Is Change Overdue! Enim neo velit adsum odio,

multo, in commoveo quibus

company’s business operations to HR policies, to getting Insurance Business so that we can leave a mark in the field
introduced to the Amazan family. Those moments seem all of insurance broking industry in India”. Imported Refined Edible Oils Scenario premo tamen erat huic. Occuro

too distant now for all the inductees, who have become so
intricately woven in the very Amazan fabric and deeply
ingrained in working towards a common goal. The journey
so far has been accosted with dollops of learning, glints of
challenges, gleams of success, flavours of camaraderie and
oodles of motivation. This keeps alive the flame to counter
challenges and innovate ways to make Amazan carve out a
distinct niche for itself, making it stand out from the
crowd.
On the 22nd of Jan , Amazan celebrated its Foundation Day.
The mood was all jubilant and buoyant on the day as it
commemorates how the dream of an innovator took shape
and charted an upward growth path ever since, never
looking back. On the momentous occasion we got into
While brands like Pureline Kachi Ghani Mustard oil in the
edible oil segment and Megga in the poultry segment are
already getting rave reviews from customers and
distributors alike, Amazan Agro’s brand portfolio is soon to
add to its kitty Annabhog, branded non-basmati rice and
Pureline Refined Soybean Oil in the coming days. The
commendable performance of Amazan Agro and Amazan
Capital is attributed to the sincere and dedicated efforts of
its various teams .
“We take success as a milestone in the journey and not the
destination itself, making them the stepping stones
towards realization of a bigger dream as envisaged by our
Managing Director Mr. Joydeb Garai. We believe in striving
to develop an opportunity at hand and not await one. We
Is the Imported edible oil scenario up for a
change? Edible oil import in crude form at
present is duty free while refined oils bear
customs duty of 7.5 per cent ad valorem as in
case of soybean oil. The rate of duty though is
not levied on the invoice price but on the
specified tariff value, around US $580/Ton in
case of Soybean oil as against the present
market value, which is substantially higher. So
the effective duty on refined oils is much lower
than the statutory one. The SEA proposed tariff
value is US$ 870/MT.
With the Govt. finding itself under duress to
uxor dolore, ut at praemitto opto
Persistent strong demand resulting in bullish
si sudo, opes feugiat iriure
markets and La Niña attributed weather
Thevalidus.
semi-automatic
Sino lenissix row grader
vulputate,
aberrations in the major producing countries,
from Staalkat International,
valetudo ille abbas cogo saluto
may cause the edible oil sector to look
purchased by Amazan will facilitate
forward to some import duty changes.
quod, esse illum, letatio lorem
easy and efficient washing, sorting,
However this salutary measure may counter
conventio.
grading Letalis nibh
and packing iustumThe
of eggs.
some strong opposition from the Solvent machine will introduce newer levels
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Extractors Association who put forward the of hygiene and efficiency in the egg
tate enim esse si sudo erat.
cause for development of the indigenous industry. The grader with a capacity
solvent extracting units and supporting
of 25 cases an hour can produce
farmers and industry. Advocating imposition
upto seven grades. Replete with an
of import duty on crude oils as well, they are
MONTHLY
infeed table, a candling section,
of the view that excessive speculation in the PICKS
grader and a hand-packaging and

conversation with a few of the Amazanites to know what create and innovate as the guiding light beacons us to markets in addition to reserve selling by
packing shelves, the machine
take some effective measures to control the
their experience has been so far. ‘refresh, revalue and rethink’,” remarked one of the stockists are responsible for the industry
minimizes human intervention to
reigning food inflation which hovered above 18 Volutpat
provide mos at,well
hygienic neque nulla and
sorted
For Atul ,who has developed a keen insight into sales and members. facing negative crush margins. The
% in the first week of Jan, there emerges to be a lobortis
graded eggs.dignissim conventio,
distribution network and is responsible for this segment of In conversation with Mr. Garai, the tremendous zeal with imperfectness as of now in the edible oil
strong case for abolishing the duty on import of
the supply chain of Amazan Agro, it has been a journey of which the organization is being lead, was underlined when refined oils and bringing it at par with crudes. markets is largely due to tight control and
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constant exploration. It has enabled him not just to learn
but also to delve into the human psyche ,as he endeavors
to build relationship with all the members of the supply
chain network. He opines “business is not just about
generating revenues, but when viewed holistically it is
about working in conjunction with your business partners
he opined, “There are several things in this world that are influence of large refiners who dictate market Feugait in obruo quae ingenium
set right. No wonder in our journey ahead there will be prices and sway the trends. The time lag tristique elit vel natu meus.
stones .We need people who believe that eventually the created between landing of crude at ports and Molior torqueo capio velit loquor
stones will be converted to milestones and not be disposal after refining encourages speculative aptent ut erat feugiat pneum
encumbered by harsh reality .A quarter of a watermelon is trading positions in the market. With
always larger than a whole cherry.” abolishment of import duty, traders will have
commodo.Enim neo velit

to deliver a promise to the end customer”. He believes that the liberty to import refined edible oils while
adsum odio, multo, in
the bottom line for sales is, to walk the talk. the refiners will have to competitively price commoveo quibus premo
Mr Saiket Dutta, heading the Third Party Distribution their refined crude, thus bringing about tamen erat huic. Occuro uxor
Business at Amazan Capital and one of the new members healthy competition. dolore, ut at praemitto opto si
of the Amazan family says that the journey for the past one Will the refined edible oil industry witness sudo, opes feugiat.
and a half months for him has been wonderful and it felt any change in the coming days? As of now it’s
good to be a part of the family. Mr. Dutta was all praises for just wait and watch!
the senior management and his team for providing
constant support

Amazan Capital: Private Equity
What is Private Equity?
Amazan Private Equity: Approach, Philosophy and Strategy
What is Private Equity
Private equity firms generally want to buy companies or part of
companies for their portfolios, re-engineer them, make them
operationally more efficient, and sell them on. The investment
period is seldom less than a year and can be as long as 10 years,
but the objective is always to sell the business on at a substantial
profit. Private equity investors have three main investment
strategies:
1. Venture capital
2. Growth capital
3. The leveraged buyout (LBO)
Investment Approach
We at Amazan capital limit our investment activity to a small
number of businesses to allow the focus necessary to achieve
our goal of building market-leaders. We work closely with
management to support the development of each company's
strategic plan and initiatives to improve growth, profitability,
operational effectiveness and, ultimately, business value. By
dedicating our resources in this way, we enable management
teams to expand the scope or accelerate the time frames of their
business plans. The effectiveness of this focused approach has
been demonstrated through the achievement of substantial
growth and improved profitability at each of our prior
investments. As part of this approach, we let business plans
determine the appropriate capital structures for our
investments. For this reason, we typically employ lower levels of
leverage than available in the market to ensure that ample
resources are in place to support the development of each
business.
Investment Philosophy
Amazan capital has a well-defined investment philosophy that
guides our investment activities. This philosophy is manifested
in the partnerships we develop, in our approach to building
businesses and in our commitment to alignment with our
investors and management. We believe adhering to these
principles leads to superior results for everyone involved in our
investments. We firmly believe that most high growth
businesses in the Indian subcontinent require more than just
capital. We seek to combine a hands-on, active and operational
approach with the willingness to compound capital over the long
term.
This enables us not only to deliver superior and consistent
returns, but also to manage risk in a more effective manner. The
firm’s globally-integrated partnership ensures that all of our
resources are committed to the success of each portfolio
company. Regardless of an investment's stage of development,
industry focus or geography — the right people, with the right
experience, are available to every entrepreneur and management
team.
Investment Strategy
Private Equity at Amazan Capital follows a classic private equity,
long term investment approach which involves extensive due
diligence and substantial rights. We expect entrepreneurs and
management to view us as knowledge partners with the aim to
add value to the underlying business rather than financial
investors. Our strategy is to invest only in businesses where our
knowledge of the relevant technology, science, competitive
marketplace and service requirements gives us confidence in our
ability to assist management teams in growing their companies
and building value. We believe that through our years of
experience and exceptional team we would be able to use our
operational and financial engineering experience in re-
engineering struggling businesses into efficient businesses with
long term sustainable growth and profitability for all the
stakeholders. When we make an investment, we provide
substantial strategic, operational and financial resources to the
business to help assure its future success
Our core strategy involves identifying companies with enterprise
values between $10 - $50 million
Equity Investments of $1 - $15 million
Invest in growth sectors in India:
• Healthcare/Pharmaceutical
• Food and Agri business
• Infrastructure and Real Estate
• Information Technology and IT enabled services
• Education
Potential structures:
 Seed Capital
 Early stage ventures
 Growth Capital
Article of the month
Healthcare: Real Estate and Infrastructure:
The Indian healthcare sector presently a US$ 40 billion Indian Real Estate industry is currently estimated to be US $
industry is expected to become a US$ 280 billion industry by 48.Growth is energized by:
2020 with spending on health estimated to grow 14 per cent  High growth in the services sector- telecom,
annually, according to a report by an industry body. Healthcare financial services, IT & ITES etc.
has emerged as one of the most progressive and largest service  Growing demand for affordable housing and
high rate of urbanization
sectors in India with an expected GDP spend of 8 per cent by
 Growing penetration of mortgage finance
2012 from 5.5 per cent in 2009. We believe that the fragmented
Current contribution of Real Estate sector to India’s GDP is
nature of both the hospitals and pharmaceuticals sectors,
5%.In the recent year’s industry has evolved from a highly
investors also see potential for tapping into consolidation
fragmented & unorganized market into a semi-organized
opportunities in partnership with growth-oriented
market. According to McKinsey, if infrastructure
entrepreneurs. The sheer levels of under-penetration of
development is not aggressively pushed, India could suffer
healthcare services - in addition to factors such as a growing
a GDP loss of USD 200 billion (around 10% of GDP) in fiscal
population, increasing disease profiles etc. – is one of the key
year 2017. India’s infrastructure build out envisages
growth drivers for the sector.
investment of close to USD 500 billion with USD 430 of this
in the core transport and utility sectors . About one fourth
Agriculture and Agri Business: of this investment is expected to be met through public
India’s retail market for fresh fruits and vegetables is estimated private partnership. India is on a course to a deficit of USD
at $35 billion. Organized retailing is estimated at $73 million 150 billion to USD 190 billion in financing core
infrastructure sectors. The infrastructure sector provides a
and growing at the rate of 30%.Rapid growth of food retailing
large opportunity for financial sector players, with potential
& increasing health consciousness with changing lifestyles is
driving growth of agricultural produce which is hygienic and revenues of USD 10 billion to USD 12 billion between the
healthy. According to Rabobank, the Indian agri biotech sector financial years 2010 and 2014 & a revenue pool of USD 25
has been growing at blistering 30% in the last 5 years & this billion to USD 29 billion beyond 2014.
trend is expected to be maintained in future as well .Another
potential lies in biofuel. Indian food market is estimated at
Education:
$200 billion & is estimated to grow to around $300 billion
Indian Education System is by far the largest capitalized
2014-15.There is an opportunity for large investments in food
space in India with $30bn of government spending (3.7% of
and food processing technologies especially in areas of canning,
GDP; at global average), and a large network of ~1m
dairy and food processing, specialty processing, packaging,
schools and 18,000 higher education institutes. Yet, the
frozen food or refrigeration and thermo Processing .Fruits &
public education system is ‘insufficient’ and ‘inefficient’,
vegetables, fisheries, milk & milk products, meat & poultry,
leading education-hungry and affluent Indians to spend
packaged or convenience foods, alcoholic beverages & soft
$50bn on private education (14% CAGR over FY08-12E).
drinks and grains are important sub-sectors of the food
We see tremendous potential in exploiting the untapped
processing industry. Health food and health food supplements
potential in the Indian Education Sector.
are another rapidly rising segment.
billion with a CAGR of 30%.It is expected to reach US $ 200
billion by 2020.
Santosh Bukitgar & Satvinder Kumar
.
This space features the best entry for the month .Pen down your views and opinions and
grab this space. Rush your entries at mudita.shah@amazanagro.com
 The Growing Amazan Family : New Inductees Since Nov. 2010
Integrated Poultry Hub:
NAME DIVISION DEPARTMENT DESIGNATION
A dream taking shape
1 SANTOSH S BUKITGAR CAPITAL PRIVATE EQUITY AVP
BR AN DS FR OM T HE 2 PARTHA SARATHI CHAKRABORTI CAPITAL PRIVATE EQUITY GENERAL MANAGER
HOU S E O F AM A Z AN
Amazan played host to
3 ABHISHEK SENGUPTA CAPITAL PRIVATE EQUITY SENIOR MANAGER
Agrotop’s Mr. Benjamin van 4 ARNAB SINHA CAPITAL PRIVATE EQUITY MANAGER
Dijk from Israel for an 5 BIBEK BANERJEE CAPITAL WEALTH MANAGEMENT ZONAL MANAGER

integrated poultry hub 6 KHALID SHAMIM CAPITAL WEALTH MANAGEMENT MANAGER

7 SAIKAT DUTTA CAPITAL THIRD PARTY DISTRIBUTION SENIOR MANAGER

establishment.
8 SUBHASIS MUNSHI CAPITAL THIRD PARTY DISTRIBUTION MANAGER

9 KOUSTAV BISWAS CAPITAL THIRD PARTY DISTRIBUTION RELATIONSHIP MANAGER

We take pride in offering to our 10 AMAN VERMA CAPITAL THIRD PARTY DISTRIBUTION RELATIONSHIP MANAGER
customers the best in the industry. Improper disposal of the bird’s excreta is a grave
11 CHIRADIP SEN CAPITAL THIRD PARTY DISTRIBUTION RELATIONSHIP MANAGER
In the edible oil segment, Pureline threat to the hygienic conditions in the poultry
12 RITWIK BHATTACHARYYA CAPITAL THIRD PARTY DISTRIBUTION RELATIONSHIP MANAGER
Kachi Ghani Mustard oil brings to farms. EC poultry farms ensure proper collection
the consumers, the pure taste of In furthering its efforts towards development of and suitable disposal of birds’ droppings. 13 ASHIM SWARNAKAR CAPITAL THIRD PARTY DISTRIBUTION RELATIONSHIP MANAGER
Mustard oil. a composite poultry hub, Amazan Agro All these conditions alleviate the chance of 14 RAJ KUMAR CAPITAL THIRD PARTY DISTRIBUTION RELATIONSHIP MANAGER
Our egg brand Megga delivers Products Ltd. paid host to Benjamin van Dijk clinical as well as subclinical infectious spread of
15 SRIPRAKASH SINGH CAPITAL THIRD PARTY DISTRIBUTION RELATIONSHIP MANAGER
wholesome nutrition through the form Agrotop Ltd., an Israel based company diseases to the birds resulting in considerably
bigger and better tasting white which specializes in planning design and reduced mortality rate and ultimately improve 16 SHILAJIT KOLEY CAPITAL THIRD PARTY DISTRIBUTION RELATIONSHIP MANAGER
and brown eggs. implementation of complete turnkey projects the returns from the birds. 17 PARVEEN PRASAD CAPITAL THIRD PARTY DISTRIBUTION RELATIONSHIP MANAGER
Annabhog Popular and Premium worldwide, for the agriculture and industrial State of the art packing center facilitates proper
18 SUDIP GOBINDA CHAUDHURY CAPITAL THIRD PARTY DISTRIBUTION RELATIONSHIP MANAGER
non-basmati rice are all set to sectors. Agrotop Ltd. is Israel’s leading company collection, sorting, grading and cleaning of eggs.
make their mark in the cereals for poultry complex turnkey projects, having a Packing center clubbed with the production 19 UTTAM SING CAPITAL THIRD PARTY DISTRIBUTION RELATIONSHIP OFFICER
segment. market share of 80% in Israel. Mr. Benjamin, house ensures that fresh eggs reach the ultimate 20 RAKESH KHANDELWAL CAPITAL THIRD PARTY DISTRIBUTION RELATIONSHIP OFFICER
For us at Amazan, brands are a responsible for Environment Controlled consumer within 24hrs of production. 21 SRIJATA GHOSH CAPITAL THIRD PARTY DISTRIBUTION OPERATION-EXECUTIVE
source of promise to our
Turnkey Projects at Agrotop, submitted an offer In recent times the poultry industry has
customers and we firmly believe in 22 AMRITA ROY CAPITAL OPERATIONS EXECUTIVE
for Environmentally Controlled houses for witnessed scare from bird flu, resulting in culling
keeping promises. Branding helps 23 ABHIJEET DEY CAPITAL FINANCE & ACCOUNTS EXECUTIVE
layers and pullets, as well as eggs center with of millions of birds and considerable monetary
us create a personal touch even
packing machine and discussed in depth its losses. In such a hub, proper measures are 24 SUBROTA MONDAL CAPITAL IT EXECUTIVE
as we create brand into a sum
implementation feasibility in context of undertaken to help preempt any such threat and 25 INDRANIL SENGUPTA AGRO HR & ADMIN SENIOR EXECUTIVE
total of the expectations and
Amazan. keep the virus at bay.
perceptions of the customer. We 26 NIRMAL CHATTERJEE AGRO HR & ADMIN EXECUTIVE
Eggs produced in EC poultry houses are of the The conceptualization of an integrated poultry
adhere to the company philosophy
best quality due to well maintained diets and 27 HEMARUN MUKHERJEE AGRO SALES MANAGER
of providing satisfaction to our
hub aligns itself with Amazan’s commitment to
customers by means of delivering
optimum environmental conditions. This also bring in the latest technology to revolutionize 28 BISWAJIT BASAK AGRO SALES EXECUTIVE

quality products to meet their

reduces the risk of infectious as well as other agri. and food products supply chain, so that 29 BARUN KUMAR JANA AGRO SALES EXECUTIVE
expectations and give them the diseases thereby resulting in healthy birds and consumers can bring home the best poultry 30 SK ZIAUR RAHAMAN AGRO SALES EXECUTIVE
best value for their money. ultimately healthy eggs. products.
31 LALTU SARDAR AGRO SALES EXECUTIVE

32 BIKASH KALI DAS AGRO SALES EXECUTIVE

33 BIDROHI CHAUDHURI AGRO SALES EXECUTIVE

34 SUBHANKAR PAL AGRO SALES EXECUTIVE

35 RITAL MAJUMDAR AGRO SALES EXECUTIVE

36 CHAUDHURY MUSADDIK KADIR AGRO SALES EXECUTIVE

37 SOUMYADIP GHOSH AGRO SALES EXECUTIVE

38 AMITAVA CHAKRABORTY AGRO SALES EXECUTIVE