Today's Top Gainer
Note:Top Gainer - Nifty 50 More
The details of the financial performance of the company are appearing in the Balance sheet, Statement of Profit & Loss along with other financial statement. Highlights are as under :
(Rs. In Lacs)
|Revenue from Operations||28899.33||30646.57|
|Earning before interest, depreciation, tax & amortization||3063.37||3548.95|
|Profit before exceptional item & tax||2154.39||2723.54|
|Profit after tax from Continuing Operations||1348.22||1706.17|
|Profit/(Loss) after tax from Discontinued Operations||(364.14)||(110.66)|
INDUSTRY STRUCTURE & DEVELOPMENTS :
The pharmaceutical industry is one of the fastest growing industries in the world and it is one of the biggest contributors to the world economy. India enjoys an important position in the global pharmaceutical sector and it is the largest provider of generic drugs with the Indian Generics accounting for 20 percent of global exports in terms of volume. According to Equity Market Report, Indian Pharmaceutical Industry is third largest in term of volume and it is number thirteen in terms of value in the world market.
There are approximately 250 large units and about 8000 small units which form the core of the pharmaceutical industry in India.
The domestic pharmaceutical market is estimated to bounce back and register an improved growth in 2018-19 on the back of increasing demand for healthcare medicines with greater penetration in rural markets.
The Outlook of Indian Pharmaceutical Industry remains positive. The Indian Pharmaceutical market is expected to grow to US$ 100 billion by 2025 driven by healthcare spending, rapid urbanization and growing healthcare insurance among others. Pharma Sector revenues are expected to grow by 9 percent year-on-year through fiscal 2020.
OPPORTUNITIES AND THREATS
India is among the top five pharmaceutical emerging market. In view of increasing sale of generic medicines, continued growth in chronic therapies, greater penetration in rural market, growing exports, increase in the penetration of health insurance, improvement in medical infrastructure and initiatives taken by the Government to promote pharmaceutical sector, there are ample opportunities for the pharma industries.
The pharmaeutical industry in India, however, is an extremely highly fragmented market with severe price competition from large number of small scale manufacturers leading to mis-matched, complex competitive scenario.
RISK & CONCERN
The Indian pharmaceutical industry is a highly regulated industry and any failure to comply with applicable regulation may adversely effect the operations and business growth.
Risks of sudden ban by Indian Government on the manufacture and sale of fixed dose combination drugs, unabated expansion of the price control by National Pharmaceutical Pricing Authority (NPPA) etc. are the areas of concern.
INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY
The internal control system of the Company is adequate and transparent, commensurate with the size of the Company. It is based on laid down policies, guidelines, authentications and approved procedures. Reputed firms of Chartered Accountants carry out audit throughout the year. The Internal Audit Report, the progress in implementation contained in the audit report and adequacy of internal controls are reviewed by Audit Committee of the Board on regular basis.
HUMAN RESOURCES DEVELOPMENT AND INDUSTRIAL RELATIONS
The Company believes that the quality of its employees is the key to its success in the long run and is committed to providing necessary human resource development and training opportunities to equip them with skill, enabling them to adapt to contemporary technological advancements. Industrial relations during the year continued to be cordial and the Company is committed to maintain good industrial relations through effective communication, meetings and negotiation.
The total strength of the employees of the Company as on 31st March, 2018 stood at 1364.
During the year the Company had to shut down the operations of Mandideep Unit of the Company as it had become commercially unviable. The Company had offered Voluntary Retirement Scheme to the workers/staffs and as agreed, the Company had paid requisite statutory dues / compensation to all the workers/staffs based at Mandideep unit of the Company.
Performance of the Company is not segmentable in business or geographical terms for reason(s) referred to in Note No. 3.17 of the Financial Statement.
The Management Discussion and Analysis Report may contain certain statements that might be considered forward looking. These statements are subject to certain risks and uncertainties. Actual results may differ materially from those expressed in the statement with the cropping up of unforeseen predicaments in the sphere of Government policies, local, political and economic development, risk inherent to the Company and other factors.
|For and on behalf of the|
|Board of Directors|
|A. K. Kothari|
|Place: Kolkata||Executive Chairman|
|Date: 29th May, 2018||DIN : 00051900|