Bliss GVS Pharma Ltd Management Discussions.

Global Economic Overview

The financial year 2020 started with rising issues on trade between the worlds two largest economies – the US and China. US and China together account for 40% of the global GDP and the trade disputes between them had an adverse effect on the global economy and sentiment overall. This impact was not only seen in the commodities and financial markets (equities, bonds, currencies), but it also impacted the output and profitability of firms, leading to deferred investment decisions of businesses. The global economy was struggling to regain a broad-based recovery as a result of the lingering impact of growing trade protectionism, trade disputes among major trading partners, falling commodity, and energy prices. Brexit was the other major event that took place in January 2020, after the public referendum in 2016 and years of negotiations. The impact of Brexit is expected to hurt the UK economy, primarily due to 2020 having the weakest export growth since 2009 and business investments contracting by 0.7%.

The year ended with the outbreak of the Covid-19 pandemic. Covid-19 effects came in as a supply-side shock first with disruption in global supply chains but with time, the shutdown of manufacturing units across the world had put challenges on the demand side where the availability of goods and services was impacted. Advanced economies as a group are likely to experience an economic contraction in 2020 of about 7.8% of GDP, with the U.S. economy projected by the IMF to decline by 5.9%, about twice the rate of decline experienced in 2009 during the financial crisis. The rate of economic growth in the Euro area is projected to decline by 7.5% of GDP. The IMF also argues that recovery of the global economy could be weaker than projected as a result of lingering uncertainty about possible contagion, lack of confidence, and permanent closure of businesses and shifts in the behaviour of firms and households. The global trade volumes are projected to decline between 13% and 32% in 2020 as a result of the economic impact of COVID-19.

In order to cushion the economy from the unprecedented impact of corona virus, United States House Democrats passed a USD 3 in corona virus relief bill on 15th April 2020. The Federal Reserve lowered its key interest rate to near zero on March 15, 2020. In other actions, the Peoples Bank of China cut its reserve requirements for Chinese banks, potentially easing borrowing costs for firms and adding USD 79 Bn in funds to stimulate the Chinese economy. OPEC and Russia reportedly agreed to cut oil production by 10 Mn barrels per day. G-20 finance ministers and central bank governors announced their support for the proposed agreement by Saudi Arabia and Russia to reduce oil production.

Sub-Saharan African (SSA) Countries: The COVID-19 disease rate in SSA have remained modest so far. Africa has enlisted over 275,000 cases and over 7,000 deaths as on June, even though testing remains moderate. Essentially all nations in SSA have as of now presented control measures. Collectively, social and financial alleviation measures attempted by African governments in the midst of the widespread will reach more than 175 Mn individuals. Cash exchanges (sending cash to beneficiary people or families) are the foremost common social alleviation strategy with 33 nations on the continent using the measure to send cash relief to, 117 Mn individuals amid the pandemic. For its part, South Africas cash relief program, part of its USD 26 billion special corona virus budget, is likely “the furthest reaching” on the continent. That reality is down to, not just the amount of dispersed cash, but also South Africas existing social welfare infrastructure with around 30% of its population already receiving monthly cash transfers before the pandemic. Togo had to construct its as of late presented computerized portable cash exchange program from scratch in the midst of the viral flare-up. In terms of the share of populace, Botswanas help bundle, comprising of nourishment dispersion plans, a wage subsidy for businesses and prize freezes on essential items, is expected to have the widest impact.

Recently World Bank estimates point towards a maximum of USD 11.5

Bn of payment relief to be provided by official bilateral creditors. Of this amount, approximately USD 6.6 Bn would benefit countries in sub- Saharan Africa. Of the 73 eligible countries, 40 have signaled they will participate in the DSSI, 28 of which are located in sub-Saharan Africa. The total potential relief would amount to USD 8.8 Bn, of which USD 5.3 Bn or 60% of the total would become available to sub-Saharan Africa. In a virtual summit with African leaders, Chinese President Xi Jinping pledged to cancel debt for relevant African countries in the form of interest-free government loans that are due to mature at the end of 2020. China also encouraged extending the deadlines for debt repayment through the

G-20s debt service suspension initiative, specifically for the African countries most impacted by COVID-19, and encouraged international lenders to take similar actions to support the continent financially. Africa owes China approximately USD 145 Bn, making China its biggest creditor.

SEA Nations (Indonesia, Thailand, Vietnam, Singapore, Malaysia, Philippines, Cambodia, Myanmar, etc.) :

SEA reported its first confirmed COVID-19 case between January to March 2020. The governments have adopted various containment measures, including temporary bans on domestic and international air and sea travel, screening at ports of entry, school closures, and other restrictions on public events. From June onwards SEA countries have begun easing some containment measures under a “new normal”.

The governments have released several fiscal packages in 3 to 5 phases which contribute around 4% to 10% of their respective countrys GDP.

The fiscal packages of these countries comprise

(i) support to the health care sector to boost testing and treatment capability for COVID-19 cases;

(ii) increased benefits and broader coverage of existing social assistance schemes to low-income households such as food aid, conditional cash transfers, and electricity subsidy;

(iii) expanded unemployment benefits, including for workers in the informal sector,

(iv) tax reliefs, including for the tourism sector and individuals; and

(v) reductions of the corporate income tax rate. In addition to tax and spending measures, the fiscal packages include capital injection, credit guarantees, and loan restructuring funds for micro, small, and medium enterprises (MSMEs). Several countries national Banks also reduced the policy rate in February, March, June, and July 2020. These countries also announced other measures to ease liquidity conditions, including lowering reserve requirement ratios for banks; increasing the maximum duration for repo and reverse repo operations, introducing daily repo auctions, etc.

Nevertheless, it has been a challenging time for governments and their citizens alike with fighting off against the spread huge stimulus packages to support people and businesses. policies are essential to forestall the possibility of worse outcomes, and the necessary measures to reduce contagion and protect lives are an important investment in long-term human and economic health.

(Source: IMF, World Bank, UNIDO, Asia Time, Economics Time, CNBC, SP Global, Live Mint, Seeking Alpha, QZ, Brooking Edu, Bruegel)

Indian Economy Overview

The Indian economy started FY20 on a dull note owing to the ongoing liquidity crisis. In order to achieve the governments vision of making

India a USD 5 Tn economy by 2025, the finance domestic corporate tax rates to 25.17% during mid-year. Considering the conditions attached to this rate, few companies have taken the benefit of the lower rate.

The Current Account Deficit narrowed primarily on account of lower non-oil, non-gold imports, and robust services exports supported by software, travel and financial services. Indias crude oil import bill fell by 9% Y-o-Y to USD 102 Bn in 2019-20 on account of price crash; though volumes remained fairly unchanged. Foreign fund

Feds grim prognosis for the US economy further weighed on the rupee as it touched 77 against the US dollar in April 2020. The CPI stands at 5.84% YoY in March 2020 higher from 2.86% Y-o-Y in March

2019. As per ICRA, CPI inflation is expected with downside bias in FY2021 from 4.8% in FY2020 due to likely muted demand for non-essential items, weak pricing power for producers and favourable base effect for food items. 2020, the real GDP growth was estimated at 5.0% in the financial year

2019-20 but due to the recent COVID-19 crisis has ensured that FY2021 will be a challenging one for India and the world. As per Fitch Ratings, Indias GDP growth is likely to slip to 0.8% for FY21 on account of expected fall in consumer spending to 0.3% from 5.5% a year ago and an expected contraction of 3.5% in

Outlook:

The Indian economy was on a recovery path from the lower demand positions that were existing when the Covid-19 pandemic hit us in the last few days of the year and the related measures taken by the Government resulted in a slowdown of demand. While on one hand, the rate of growth of the pandemic was relatively contained, the lockdown impacted the distribution channels and the sales for the year and also for the subsequent quarter. The pace and scale of lifting lockdown for

India may depend on the availability of the crucial testing capabilities which is essential to get a better handle on the spread of the virus, granular data and technology to track and trace infections, and the build-up of healthcare facilities to treat patients. Government of Indias announcements of a fiscal stimulus of INR 20 Lakh crores (~10% of

GDP) aims at saving the lockdown battered economy by providing tax breaks, incentives for domestic manufacturing and credit guarantee for of the virus and, passing loans to MSMEs.

RBI announced a slew of measures to address the liquidity concerns of financial institutions by means of targeted long-term repo operations to help ease liquidity of NBFCs, HFCs, and MFIs. Indias crude oil import bill is likely to shrink in the current fiscal year as domestic demand has sharply fallen due to nationwide lockdown. With the IMD monsoon forecast coming at near-normal levels, the agricultural sector could turn out to be the lone bright spot as winter crop (Rabi) is being harvested and the impact of this pandemic is not seen across the farmland areas of the country.

The uncertainty about further contagion of this pandemic and the ministry slashed vaccine development, establishment closures, structural shifts in the firm and household behaviour which may lead to a longer lasting supply chain disruption and weakness in aggregate demand would potentially cause a major hurdle in the growth of the fastest growing trillion-dollar economy going into FY21.

(Source: IBEF, Economic Times, India Budget, Live Mint, Forbes India)

Global Pharma and the

The global pharmaceutical market is estimated at USD 1.2 Trillion, having grown at about 3% CAGR over 2015-20. The US pharmaceutical market is the major hub of pharmaceutical innovation and it is the biggest market in cool to around 4.0% the world, accounting for in excess of 40% of global pharma consumption in value. China and Japan are ranked second and third, correspondingly. Collectively, these 3 markets cover 60% of the global pharma market. to the Indian Budget

Revenue in the OTC Pharmaceuticals market amounts to USD 113,806 Mn in 2020. The market is expected to grow annually by 4.6% (CAGR 2020-2025). In global comparison, most revenue is generated in the United

States (USD 25,286 Mn in 2020). In relation to the total population figures, per person revenue of USD 15.29 was generated in 2020. capital investments.

Over-the-Counter Drugs Market size is set to exceed USD 185 Bn by 2025; according to a new research report by Global Market Insights. Expanding the geriatric population base which is highly susceptible to suffer from several diseases such as joint pain will drive global Over-the-Counter drug market demand over the forecast period. Growing healthcare awareness among people and cost-effectiveness associated with OTC drugs will further fuel industry growth. Pharmaceutical companies switch from Rx to OTC drugs serves as high impact rendering factor on industry growth over the forecast period. This will provide potential growth opportunities for companies to rejuvenate an off-patent brand into a new life-cycle growth phase.

Issues pertaining to substance abuse and less awareness in emerging and underdeveloped economies about medicines are major growth restraining factors. Furthermore, the risk associated with taking the wrong medicines due to improper self-diagnosis is most likely to make regulations more stringent.

Analgesics accounted for around 11.7% market share in 2019. OTC analgesics have applications in the treatment of fever, headaches, flu, colds, musculo skeletal injuries & disorders, arthritis, toothaches, and menstrual cramps which will spur demand. Frequent body pain experienced by the geriatric population, increasing incidences of arthritis, cancer and cardiovascular disease, and increasing investment in R&D by public & private sector, with major focus to formulate new therapeutics and will drive industry growth.

Cold, cough and flu segment should witness forecast timeframe. The growth is attributed to demand from an increasing number of individuals catching a cold and flu multiple times in a year. Non-life-threatening nature of these infections makes OTC medication a viable choice for the patient, resulting in escalating demand. Moreover, increasing awareness through media such as TV, social media home pages and print circular will propel industry growth.

U.S. OTC drugs market size witness lucrative growth over the forecast period to reach over USD 44 Bn by 2025. Increasing preference for the drugs for minor injuries along with increasing self-medication and self-care will spur demand. Moreover, rising healthcare expenditure, favourable regulatory scenario and presence of major players in the country will fuel industry growth.

UK market should witness a substantial growth due to increasing awareness pertaining to self-treatment medication. Increased availability of OTC medicines in the country will help the government to minimize the healthcare cost and provide better access to the public and propel business growth over the forecast timeframe.

Indias OTC drugs market size held a significant 9.3% of the Asia Pacific OTC drugs market in 2018. Growing healthcare expenditure, unhealthy dietary habits, expanding population and growing healthcare awareness will drive industry growth. The geriatric population in the country is prone to acquire diseases such as asthma, arthritis, angina, depression, and diabetes which will spur demand.

(Source: Statista, GM Insights)

Indian Pharma

Indias domestic pharmaceutical market turnover reached INR 1.4 Lakh Cr (USD 20.03 Bn) in 2019, growing at 9.8% year-on-year (in INR) from INR 129,015 Cr (USD 18.12 Bn) in 2018. Medicine spending in India is projected to grow around 9-12% over the next five years, leading India to become one of the top 10 countries in terms of medical spending. Indias

5.9%CAGRoverthe cost of production is significantly lower than that of the US and almost half of that of Europe. It gives a competitive edge to India over others.

Indian pharmaceutical industry supplies over 50% of global demand for various vaccines, 40% of generic demand in the US and 25% of all medicine in the UK. India accounts for 20% of global exports in generics. Indias pharmaceutical exports stood at USD 13.69 Bn in FY20 (as of January 2020). The exports are expected to reach USD 22 Bn by 2020. Indian pharmaceutical sectors expected to grow at a CAGR of 22.4% in the near future and the medical device market expected to grow USD 25 Bn by 2025. India is the second largest contributor to the global biotech and pharmaceutical workforce. The pharmaceutical sector was valued at USD 33 Bn in 2017. Indian health care sector, one of the fastest growing sectors, is expected to cross USD 372 Bn by 2022.

India plans to set up an early INR 1 Lakh Cr (USD 1.3 Bn) fund to provide a boost to companies to manufacture pharmaceutical ingredients domestically. As per Union Budget 2019-20, INR 1,900 Cr (USD 269 Mn) have been set aside for research of the total amount, INR 62,659 Cr (USD 8.86 Bn) have been allocated for Ministry of Health and Family Welfare.

African Pharmaceutical Industry

Africa is one of the key pharmaceutical markets where genuinely high growth is still achievable, the value of Africas pharmaceutical industry jumped to USD 28.56 Bn in 2017 from just USD 5.5 Bn a decade earlier. That growth is continuing at a rapid pace: we predict the market will be worth USD 56 Bn to USD 70 Bn by 2030. It is opportunistic for multinationals and pharmaceutical companies seeking new sources of growth as developed markets stagnate while patients will also gain access to medicines previously unavailable on the continent.

Africas pharmaceutical markets are growing in every segment, given that between 2017 and 2030, prescription drugs are forecast to grow at a compound annual growth rate of 6.5%, generics at 10%, over-the-counter medicines at 7.1%, and medical devices at 12.1%. Increasing urbanisation, healthcare capacity and supportive business environment are the drivers of the Africa pharmaceutical market. For early movers in order to pursue competitive advantage requires focus on pockets of growth like much of the opportunity lies not at the country level, but in cities. According to the analysis, 37% of African consumers are concerted in 30 cities, which will have more consuming households than Australia and the Netherlands combined by 2025. Addressing supply and distribution challenges, building a stronger team and forging partnerships are the “to win strategies” as global pharmaceutical companies need local business partners like manufacturers, packaging companies, and distributor in order to help them navigate the continents many markets, with their widely varying consumer preferences, price points, manufacturing, and distribution infrastructures.

With imports comprising as much as 70 to 90 percent of drugs consumed in most countries in sub-Saharan Africa, many governments are considering whether its time to promote more local production. Drug imports, including both over-the-counter and prescription drugs, do considerably exceed those into China and India—where comparable populations import around 5 percent and 20 percent, respectively. And it does put strain on government and household budgets and already limited foreign exchanges.

According to Pharmexcil, roughly 20 percent of Indias pharma exports of around USD 17 Bn go to African countries. Indian pharma companies have long been present in Africa, especially South Africa and a significant number have steadily established themselves as partners of international healthcare NGOs and aid agencies over the past decades.

The African pharma market, which is USD 24 Bn at present, is poised for big growth in the coming years. After decades of civil and tribal strifes, much of Africa is peaceful today and the GDP growth rate is rising again. Some countries such as Ethiopia, Ghana, Kenya, Uganda, etc. are exhibiting a consistent GDP growth rate of seven percent and above. Five of the 12 fastest-growing economies in the world are in Africa. There are 720 Mn African mobile users, more than in Europe or North America and transaction in mobile money in Somalia exceeds USD 2.5 Bn every month.

Global Malaria Outlook

According to the World Malaria Report 2018 by the WHO, an estimated 219 Mn cases of malaria occurred worldwide in 2017. Most malaria cases were in the WHO African Region (200 Mn or 92%), followed by the WHO South-East Asia Region with 5% of the cases and the WHO Eastern Mediterranean Region with 2%.

Plasmodium falciparum is the most prevalent malaria parasite in the WHO African Region, accounting for 99.7% of estimated malaria cases in 2017, as well as in the WHO regions of South-East Asia (62.8%), the

Eastern Mediterranean (69%) and the Western Pacific (71.9%). P. vivax is the predominant parasite in the WHO Region of the Americas, representing 74.1% of malaria cases.

Malaria control and elimination investments

Malaria is present in more than 80 countries, and these increasingly fall into one of two categories: those progressing toward elimination and those with a high burden of malaria that are experiencing setbacks in their responses.

This progress toward elimination underscores the fact that we have effective tools and strategies to halt malaria. The issue is an investment. An estimated USD 2.7 Bn was invested in malaria control and elimination efforts globally in 2018 a reduction from the USD 3.2

Bn invested in 2017, and well short of the USD 5 Bn estimated to be required globally to stay on track toward agreed milestones.

Measures

The Global Fund provides 65% of all international and has invested more than USD 12.9 Bn in malaria control programs as of March 2020, using a comprehensive approach that combines Education about symptoms, prevention and treatment, Prevention through use of mosquito nets, spraying structures with insecticide and preventive treatment for children and pregnant women and diagnosis, including supplying rapid diagnostic tests to community health workers treatment.

BGPL is a leading player in the anti-malarial branded formulations segment which is a prized opportunity given the percentage of malaria cases in the African continent, where approximately 93% of global cases of malaria are prevalent.

(Source: IMF – Malaria report 2019)

Company Overview

BGPL is engaged in manufacturing, marketing, and exporting of more than 250 branded formulations that span across 20+ therapeutic segments and 16+ dosage forms. BGPL has a presence in more than 64 countries, with a major focus on the sub-Saharan African region. In FY20, the geographical revenue mix from sub-Saharan Africa was ~76%, followed by India contributing ~21% and the Rest of the World at ~3%.

BGPL has strong expertise in the manufacturing of niche dosage forms of Suppositories and Pessaries. This high level of innovation has been achieved on the foundation of robust infrastructure, strong scientific knowledge base and latest technology. The companys manufacturing facilities are certified and approved by WHO-GMP, EU-GMP, PIC/S,

OHSAS 45001 and ISO 14001, and the R&D unit is approved by DSIR, Government of India.

Suppositories have gained popularity as a niche dosage form to best address a variety of challenges, with the delivery of medicine via rapid absorption of the drug from the drug product is the major benefit of suppositories. It is most prevalently used in Europe, Japan,

Africa & the US. And as the population ages in the coming decades, there is enormous potential in these largely untapped markets with huge market potential and its major applications are in paediatrics, geriatrics & gynecology.

Year Under Review

Financial Review

INR Mn FY20 FY19 Growth
Standalone
Operational Income 4,420 4,266 3.6%
EBITDA 1,002 931 7.6%
EBITDA Margin 22.67% 21.82% 85 Bps
Net Profit 923 744 24.1%
Consolidated
Operational Income 6,893 8,986 -23.3%
EBITDA 1,232 1,577 -21.9%
EBITDA Margin 17.87% 17.55% 32 Bps
Net Profit 953 1,267 -24.8%

Operational And Financial Performance

On a standalone basis in FY20 our operational revenues grew by 3.6% YoY to INR 4,420 Mn. Our EBITDA was INR 1,002 Mn and our EBITDA margins were 22.67%. The net profit after tax was INR 923 Mn and

PAT margins were 20.88%.

On a consolidated basis in FY19 our operational revenues for the year were INR 6,893 Mn which decreased by 23.3% YoY. The EBITDA reported was INR 1,232 Mn and EBITDA margins were 17.87%, the net profit tax reported at INR 953 Mn with PAT margins of 13.83%.

Revenue Breakup of Therapeutic Segments

(FY20)

For FY20, the revenue share from the therapeutic segment of anti-malarial was the highest at 43%. The therapeutic segments which contributed significantly, following behind anti-malarial, were anti-fungal and anti-bacterial at 16%, anti-inflammatory at 7%, anti-biotic at 5% and other therapeutic segments sharing about 29%.

Research and Development

The company has strengthened its R&D function for the development of new products for both the developed & regulated market and the global markets. The Mumbai based R&D facility serves as a backbone for BGPL, delivering innovative products, with an experienced team of 30+ core scientists and an overall team of 80+ researchers. The R&D team is committed to building safe, pure and efficacious drugs that meet evolving patient-needs and regulatory standards.

BGPLs R&D Centre is duly recognized by the Department of Scientific and Industrial Research (DSIR), Government of India which is proficient in the development of Suppositories, Semi Solids and Oral Solids The facility is well equipped with all the required instruments like Particle Size Analyser, Gas Chromatography, High-Performance Liquid Chromatography, Dissolution Tester, Stability Chambers and Lab Scale Manufacturing machines.

Challenges

Being an export-oriented company, the biggest obstacle faced by the business is due to the volatility in the regulatory requirements. Geographical presence in more than 64 emerging markets requires us to be constantly updated with the changing guidelines. We appreciate the backbreaking work of our teams to keep the products within the regulatory standards and keep a strong quality control of our products.

The efficient enhanced and specialized products to the targeted audience.

Foreign exchange volatility plays a key role in fluctuating the overall revenues of the company. The management takes adequate measures to mitigate such risks.

Further, the increased cost due to higher regulatory requirements is a challenge for the company. The teams and manufacturing facility operate in the most optimal manner to keep a low cost and competitive pricing of our products.

Opportunities & Future Outlook

Looking at the fast-paced growing pharmaceutical industry in the branded generics space, we have plans to diversify our geographical presence in the regulated and emerging markets. The tremendous growth potential in these markets allows us to capture a larger market share by creating and building brands. Additionally, we have commenced registrations of products in the South East Asian market. Independently done product registrations will give additional operational leverage while negotiating with the potential partners.

Further, the increased international and domestic demand due to the spreading awareness about the safety and is a remarkable potential within the sector. To facilitate the increased demand for safe and high quality drugs, BGPL have commercialised a new state-of-the art manufacturing facility at Vevoor. The new plant is strategically placed not just to strengthen the position in sub Saharan Africa but also to expand our products reach to new geographies like US, UK, Russia etc. Additionally, we have already established our offices in Myanmar, the Philippines and a representative office in Vietnam to acquire product registrations and cater to the fast-growing South East Asian market which contributes to 30% of the global branded generics market.

Our R&D department has an important role to play in the growth of the company. During the year, BGPL has invested in R&D expenditure for the development of new and improved formulations targeting the developed and global economies. Expertise in the niche pharmaceutical products will serve as a growth trigger to acquire a larger market share.

Internal Control System And Adequacy

The internal control systems provide for well-defined policies, guidelines and authorizations and approval procedures. The company has imbibed internal control procedures commensurate operations and capacities. These business procedures ensure optimum use and protection of the resources, to ensure that all assets are safeguarded against loss from unauthorized use or disposition, compliance with the requisite

Overview, Statutory Section, Financial Section policies, procedures and statutes

Audits are conducted on an ongoing basis and significant deviations are brought to the notice of Audit Committee and Board of Directors following which corrective action is recommended for implementation. and experienced team enables the company to deliver

The Audit Committee of the Board of Directors approves and reviews audit plans for the year based on internal risk assessment. All these measures facilitate the timely detection of any irregularities and proactive remedial steps. The prime objective of the internal audit is to test the adequacy and effectiveness of the internal controls laid down by management and to suggest constructive improvements in a time-bound manner.

FORM NO. MGT - 9

Extract of Annual Return

As on the financial year ended 31.03.2020

[Pursuant to Section 92(3) of the Companies Act, 2013, and Rule 12(1) of the Companies (Management and Administration) Rules, 2014]

I. REGISTRATION AND OTHER DETAILS:

I CIN L24230MH1984PLC034771
Ii Registration Date December 11, 1984
Iii Name of the Company Bliss GVS Pharma Limited
iv Category/Sub-Category of the Company Limited by Shares/ Indian Non-Government Company
v Whether listed Company (Yes/No) Yes
vi Address of the Registered Office and contact details 102, Hyde Park, Saki Vihar Road, Andheri (East) Mumbai-400072,
Tel No: +91-22-42160000
vii Name, Address and Contact details of Registrar and Transfer Agent, if any Universal Capital Securities Private Limited
21/25, Shakeel Niwas, Opp. Satya Saibaba Temple, Mahakali Caves
Road, Andheri (East) Mumbai-400 093, Tel No: +91-22-28366620

II. PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY:

All the business activities contributing 10% or more of the total turnover of the company shall be stated

Sr. Name and Description of Main No. Product/Services NIC Code of the Product % to total turnover of the Company
1. Pharmaceuticals 21002 100%

III. PARTICULARS OF HOLDING, SUBSIDIARY AND ASSOCIATE COMPANIES:

As on March 31, 2020 following are the Subsidiary/Associate Companies of the Company:

Sr. Name and Address of the Company No. CIN/GIN Holding/ Subsidiary of the Company Subsidiary % of shares held Applicable Section
1. Bliss GVS International Pte Limited 30 Cecil Street, #19-08 Prudential Tower, Singapore 049712 NA Subsidiary 100% 2(87)
2. Bliss GVS Clinic Health Care Pte Limited 30 Cecil Street, #19-08 Prudential Tower, Singapore 049712 NA Subsidiary 100% 2(87)
3. Asterisk Lifesciences Limited NA Subsidiary 100% 2(87)
350, Kilburn Lane, London, W9 3EF
4. Kremoint Pharma Private Limited B-8, Additional Ambernath MIDC, Opp. Anand Nagar Octroi Naka,Ambernath-421506 U24230MH1992 PTC066737 Subsidiary 70% 2(87)
5. Asterisk Lifesciences GH Limited HNO. AA-2 Manet Vile, Spintex Road, ACCRA, Greater ACCRA, P.O. Box KN 1186 ACCRA GA/R, Ghana, Kenya NA Step-down Subsidiary - 2(87)
6. EIPII Exports Private Limited B-8, Additional Ambernath MIDC, Opp. Anand Nagar, Octroi Naka, Ambernath (East), Thane 42150 U52100MH2014 PTC259675 Step-down Subsidiary - 2(87)
7. Greenlife Bliss Healthcare Limited 3, Neros Pharma Avenue, Off. Ewupe Road, Singer Bus/ Stop, Sango-ota, Ogun State, Nigeria NA Step-down Subsidiary - 2(87)

IV. SHARE HOLDING PATTERN (Equity Share Capital Breakup as percentage of Total Equity):

(i) Category-wise Share Holding:

Sr. Category of Number of Shares held at the beginning of the Year Number of Shares held at the end of the Year
No. Shareholder Demat Physical Total % of Total Shares Demat Physical Total % of

Total

Shares

% Change during the year
A Promoters
1 Indian
a Individuals / HUF 4,24,07,046 - 4,24,07,046 41.11 4,24,07,046 - 4,24,07,046 41.11 -
b Central Government - - - - - - - - -
c State Government(s) - - - - - - - - -
d Bodies Corporate
e Banks / FI - - - - - - - - -
f Any other (specify) - - - - - - - - -
Trust 5,00,000 5,00,000 0.48 5,00,000 5,00,000 0.48
Subtotal (A)(1) 4,29,07,046 - 4,29,07,046 41.60 4,29,07,046 - 4,29,07,046 41.60 -
2 Foreign
a NRIs Individuals - - - - - - - - -
b Other Individuals - - - - - - - - -
c Bodies corporate - - - - - - - - -
d Banks / FI - - - - - - - - -
e Qualified Foreign investor - - - - - - - - -
f Any other (specify) - - - - - - - - -
Sub Total (A)(2) 4,29,07,046 - 4,29,07,046 41.60 4,29,07,046 - 4,29,07,046 41.60 -
Total Shareholding of Promoter and Promoter Group (A) = (A) (1) + (A)(2) 4,29,07,046 - 4,29,07,046 41.60 4,29,07,046 - 4,29,07,046 41.60 -
B Public Shareholding
1 Institutions - - - - - - - - -
a Mutual Funds 21 - 21 - 5,609 - 5,609 0.01 0.01
b Banks / FI 11,75,883 - 11,75,883 1.14 53,506 - 53,506 0.05 -1.09
c Central Government - - - - - - - - -
d State Government(s) - - - - - - - - -
e Venture Capital Funds - - - - - - - - -
f Insurance Companies 5,00,000 - 5,00,000 0.48 30,00,000 - 30,00,000 2.91 2.43
g FIIs 2,46,18,006 - 2,46,18,006 23.87 2,49,18,996 - 2,49,18,996 24.16 0.29
h Foreign Venture Capital Funds - - - - - - - - -
i Qualified Foreign investor - - - - - - - - -
j Other (Specify) Alternate Investment Funds - - - - - - - - -
Sub Total (B)(1) 2,62,93,910 - 2,62,93,910 25.49 2,79,78,111 - 2,79,78,111 27.12 1.63
2 Central / State government(s)
(a) Central Government/ State Government(s)/ President of India - - - - - - - -
SUB TOTAL (B)(2) 2,62,93,910 - 2,62,93,910 25.49 2,79,78,111 - 2,79,78,111 27.12 1.63
3 Non-Institutions
a Bodies Corporate 1,38,84,970 48,920 1,39,33,890 13.51 1,57,40,691 48,920 1,57,89,611 15.31 1.80
i Indian - - - - - - - - -
ii Overseas - - - - - - - - -
b Individuals
i Individuals Shareholders holding nominal share capital in upto of Rs.1 lakh 88,26,146 22,36,447 1,10,62,593 10.72 88,78,838 20,65,777 1,09,44,615 10.61 -0.11
ii Individual Shareholders holding nominal share capital in excess of Rs. 1 Lakh 21,68,358 0 21,68,358 2.10 22,17,636 - 22,17,636 2.15 0.05
c Others (specify) - - - - - - - - -
i Clearing Member 25,35,482 - 25,35,482 2.46 3,47,593 - 3,47,593 0.34 -2.12
ii Trusts - - - - - - - - -
iii NRI / OCBs 11,40,486 1,73,500 13,13,986 1.27 5,04,999 1,67,660 6,72,659 0.65 -0.62
iv Foreign Nationals - - - - - - - - -
V Foreign Corporate Body 2,95,890 - 2,95,890 0.29 200 - 200 - -0.29
vi LLP / Partnership Firm 5,12,290 - 5,12,290 0.50 1,16,773 - 1,16,773 0.11 -0.39
IEPF A/c - - - - 21,72,428 - 21,72,428 2.11 2.11
vii Sub Total (B)(3) 3,14,86,849 24,58,867 3,39,45,716 32.91 2,99,79,158 22,82,357 3,22,61,515 31.28 -1.63
Total Public Shareholding (B) = (B) (1) + (B) (2) + (B)(3) 5,77,80,759 24,58,867 6,02,39,626 58.40 5,79,57,269 22,82,357 6,02,39,626 58.40 -
TOTAL (A)+(B) 10,06,87,805 24,58,867 10,31,46,672 100.00 10,08,64,315 22,82,357 10,31,46,672 100 -
C Custodians for GDRs and ADRs - - - - - - - - -
Grand Total (A) + (B) + (C) 10,06,87,805 24,58,867 10,31,46,672 100.00 10,08,64,315 22,82,357 10,31,46,672 100 -

(ii) Shareholding of Promoter & Promoter Group:

Sr. Shareholders Name

Shareholding at the beginning of the year

Cumulative Shareholding at the end of the year

No. No. of Shares % of total Shares of the company % of Shares Pledged / encumbered to total shares No. of Shares % of total Shares of the company % of Shares Pledged / Encumbered to total shares % change in shareholding during the year
1. Antara Gautam Ashra 0 0.00 0.00 0 0.00 0.00 0
2. Gautam Rasiklal Ashra 29,18,302 2.83 0.00 29,18,302 2.83 0.00 0
3. Gautam Rasiklal Ashra on behalf of Arjun & Antara Trust 5,00,000 0.48 0.00 5,00,000 0.48 0.00 0
3. Mamta Gautam Ashra 0 0.00 0.00 0 0.00 0.00 0
4. Mangesh Ghanashyam Wagle 75,000 0.07 0.00 75,000 0.07 0.00 0
5. Mangesh Ghanashyam Wagle HUF 7,720 0.01 0.00 7,720 0.01 0.00 0
6. S. N. Kamath 3,43,57,024 33.31 0.00 3,43,57,024 33.31 0.00 0
7. Vibha Gagan Sharma 0.00 0.00 0.00 0.00 0.00 0.00 0
8. Prabhavati Rasiklal Ashra 0.00 0.00 0.00 0.00 0.00 0.00 0
9. Vijayaben Kanji Ashra 0.00 0.00 0.00 0.00 0.00 0.00 0
10. Arjun Gautam Ashra 50,49,000 4.89 0.00 50,49,000 4.89 0.00 0
11. Shruti Vishal Rao 0.00 0.00 0.00 0.00 0.00 0.00 0
12. Genteel Trading Company Private 0.00 0.00 0.00 0.00 0.00 0.00 0
Limited
13. Kanji Forex Private Limited 0.00 0.00 0.00 0.00 0.00 0.00 0
14. Kanji Pitamber Private Limited 0.00 0.00 0.00 0.00 0.00 0.00 0
Total 4,29,07,346 41.60 - 4,29,07,346 41.60 - 0

(iii) Change in Promoters Shareholding (please specify, if there is no change):

Sr. Particulars Reason for Change

Shareholding at the beginning of the year

Cumulative Shareholding during the year

No. of Shares % of total Shares of the company No. of Shares % of total Shares of the company
1. Mangesh Ghanashyam Wagle
At the beginning of the year - 75,000 0.07 75,000 0.07
Date of Decrease 17.05.2019 Transfer of shares 65,200 0.06 9,800 0.01
Date of Increase 06.12.2019 Transfer of shares 65,200 0.06 75,000 0.07
At the end of the year - 75,000 0.07 75,000 0.07

Note: Except mentioned above, No change in Shareholding of Promoter & Promoter Group of the Company.

(iv) Shareholding Pattern of top ten Shareholders (other than Directors, Promoters and Holders of GDRs and ADRs):

Sr. Top 10 Shareholders Reason for Change

Shareholding at the beginning of the year- April 01, 2019

Shareholding at the end of the year- March 31, 2020

No. of Shares % of total Shares of the company No. of Shares % of total Shares of the company
1 Arian Investment Limited
At the beginning of the year 1,00,22,531 9.72 1,00,22,531 9.72
At the end of the year 1,00,22,531 9.72 1,00,22,531 9.72
2 Gulbarga Trading and Investment Pvt. Ltd
At the beginning of the year 58,75,000 5.70 58,75,000 5.70
At the end of the year 58,75,000 5.70 58,75,000 5.70
3 Polus Global Fund
At the beginning of the year 5050000 4.90 5050000 4.90
Date of Increase-24/05/2019 Transfer 425000 0.41 5475000 5.31
At the end of the year 5475000 5.31 5475000 5.31
4 Globe Capital Market Limited
At the beginning of the year 1670540 1.62 1670540 1.62
Date of Increase-05.04.2019 Transfer 623542 0.6 2294082 2.22
Date of Increase-12.04.2019 Transfer 119753 0.12 2413835 2.34
Date of Increase-19.04.2019 Transfer 641 0 2414476 2.34
Date of Decrease-26.04.2019 Transfer -105104 -0.1 2309372 2.24
Date of Increase-03.05.2019 Transfer 174450 0.17 2483822 2.41
Date of Decrease- 10-05-2019 Transfer -43495 -0.04 2440327 2.37
Date of Increase-17-05-2019 Transfer 183000 0.18 2623327 2.54
Date of Increase-24-05-2019 Transfer 214177 0.21 2837504 2.75
Date of Decrease- 31-05-2019 Transfer -215507 -0.21 2621997 2.54
Date of Increase-07-06-2019 Transfer 71473 0.07 2693470 2.61
Date of Decrease- 14-06-2019 Transfer -13466 -0.01 2680004 2.6
Date of Increase-21-06-2019 Transfer 15767 0.02 2695771 2.61
Date of Increase-28-06-2019 Transfer 74418 0.07 2770189 2.69
Date of Decrease- 05-07-2019 Transfer -159543 -0.15 2610646 2.53
Date of Decrease- 12-07-2019 Transfer -2481 0 2608165 2.53
Date of Decrease- 19-07-2019 Transfer -187654 -0.18 2420511 2.35
Date of Increase-26-07-2019 Transfer 103654 0.1 2524165 2.45
Date of Increase-02-08-2019 Transfer 170769 0.17 2694934 2.61
Date of Increase-09-08-2019 Transfer 585451 0.57 3280385 3.18
Date of Increase-16-08-2019 Transfer 110419 0.11 3390804 3.29
Date of Decrease- 23-08-2019 Transfer -212031 -0.21 3178773 3.08
Date of Decrease- 30-08-2019 Transfer -211849 -0.21 2966924 2.88
Date of Increase-06-09-2019 Transfer 31938 0.03 2998862 2.91
Date of Increase-13-09-2019 Transfer 127494 0.12 3126356 3.03
Date of Increase-20-09-2019 Transfer 162876 0.16 3289232 3.19
Date of Decrease- 30-09-2019 Transfer -185280 -0.18 3103952 3.01
Date of Decrease- 04-10-2019 Transfer -62526 -0.06 3041426 2.95
Date of Increase-11-10-2019 Transfer 78051 0.08 3119477 3.02
Date of Increase-18-10-2019 Transfer 109580 0.11 3229057 3.13
Date of Increase-25-10-2019 Transfer 87687 0.09 3316744 3.22
Date of Increase-01-11-2019 Transfer 98185 0.1 3414929 3.31
Date of Increase-08-11-2019 Transfer 70986 0.07 3485915 3.38
Date of Increase-15-11-2019 Transfer 6750 0.01 3492665 3.39
Date of Increase-22-11-2019 Transfer 14546 0.01 3507211 3.4
Date of Decrease-29-11-2019 Transfer -10844 -0.01 3496367 3.39
Date of Increase-06-12-2019 Transfer 38390 0.04 3534757 3.43
Date of Increase-13-12-2019 Transfer 558614 0.54 4093371 3.97
Date of Increase-20-12-2019 Transfer 65881 0.06 4159252 4.03
Date of Decrease-27-12-2019 Transfer -57028 -0.06 4102224 3.98
Date of Increase-31-12-2019 Transfer 27438 0.03 4129662 4
Date of Decrease- 03-01-2020 Transfer -29292 -0.03 4100370 3.98
Date of Decrease- 10-01-2020 Transfer -25158 -0.02 4075212 3.95
Date of Decrease- 17-01-2020 Transfer -535683 -0.52 3539529 3.43
Date of Increase-24-01-2020 Transfer 191577 0.19 3731106 3.62
Date of Increase-31-01-2020 Transfer 2917 0 3734023 3.62
Date of Decrease- 07-02-2020 Transfer -22295 -0.02 3711728 3.6
Date of Decrease- 14-02-2020 Transfer -16382 -0.02 3695346 3.58
Date of Decrease- 21-02-2020 Transfer -19188 -0.02 3676158 3.56
Date of Increase-28-02-2020 Transfer 23780 0.02 3699938 3.59
Date of Decrease- 06-03-2020 Transfer -358837 -0.35 3341101 3.24
Date of Increase-13-03-2020 Transfer 14717 0.01 3355818 3.25
Date of Decrease- 20-03-2020 Transfer -108066 -0.1 3247752 3.15
Date of Increase-31-03-2020 Transfer 680515 0.66 3928267 3.81
At the end of the year 3928267 3.81 3928267 3.81
5 Fidelity Puritan Trust-Fidelity Low-Priced Stock Fund
At the beginning of the year 3700000 3.59 3700000 3.59
At the end of the year 3700000 3.59 3700000 3.59
6 Aspire Emerging Fund
At the beginning of the year 3147947 3.05 3147947 3.05
At the end of the year 3147947 3.05 3147947 3.05
7 Life Insurance Corporation of India
At the beginning of the year 500000 0.48
Date of Increase-05-04-2019 Transfer 50000 0.05 550000 0.53
Date of Increase-12-04-2019 Transfer 250000 0.24 800000 0.78
Date of Increase-19-04-2019 Transfer 150000 0.15 950000 0.92
Date of Increase-26-04-2019 Transfer 50000 0.05 1000000 0.97
Date of Increase-10-05-2019 Transfer 500000 0.48 1500000 1.45
Date of Increase-17-05-2019 Transfer 500000 0.48 2000000 1.94
Date of Increase-24-05-2019 Transfer 75000 0.07 2075000 2.01
Date of Increase-31-05-2019 Transfer 400000 0.39 2475000 2.4
Date of Increase-07-06-2019 Transfer 450000 0.44 2925000 2.84
Date of Increase-14-06-2019 Transfer 75000 0.07 3000000 2.91
At the end of the year 3000000 2.91 3000000 2.91
8 Axis Bank Limited
At the beginning of the year 9,97,432 0.97 9,97,432 0.97
Date of Increase- 05-04-2019 Transfer 7015 0.01 1004447 0.97
Date of Decrease- 12-04-2019 Transfer -1497 0 1002950 0.97
Date of Increase- 19-04-2019 Transfer 25202 0.02 1028152 1
Date of Decrease- 26-04-2019 Transfer -46930 -0.05 981222 0.95
Date of Decrease- 03-05-2019 Transfer -4270 0 976952 0.95
Date of Decrease- 10-05-2019 Transfer -37615 -0.04 939337 0.91
Date of Decrease- 17-05-2019 Transfer -26584 -0.03 912753 0.88
Date of Decrease- 24-05-2019 Transfer -220272 -0.21 692481 0.67
Date of Decrease- 31-05-2019 Transfer -600 0 691881 0.67
Date of Increase- 07-06-2019 Transfer 1095 0 692976 0.67
Date of Increase- 14-06-2019 Transfer 659 0 693635 0.67
Date of Decrease- 21-06-2019 Transfer -26269 -0.03 667366 0.65
Date of Increase- 28-06-2019 Transfer 220840 0.21 888206 0.86
Date of Increase- 05-07-2019 Transfer 1400 0 889606 0.86
Date of Increase- 12-07-2019 Transfer 1440 0 891046 0.86
Date of Decrease- 19-07-2019 Transfer -770860 -0.75 120186 0.12
Date of Decrease- 26-07-2019 Transfer -111521 -0.11 8665 0.01
Date of Increase- 02-08-2019 Transfer 649208 0.63 657873 0.64
Date of Decrease- 09-08-2019 Transfer -170074 -0.16 487799 0.47
Date of Decrease- 16-08-2019 Transfer -50925 -0.05 436874 0.42
Date of Decrease- 23-08-2019 Transfer -97436 -0.09 339438 0.33
Date of Decrease- 30-08-2019 Transfer -1268 0 338170 0.33
Date of Increase- 06-09-2019 Transfer 201000 0.19 539170 0.52
Date of Increase- 20-09-2019 Transfer 30109 0.03 569279 0.55
Date of Decrease- 30-09-2019 Transfer -9361 -0.01 559918 0.54
Date of Increase- 04-10-2019 Transfer 9436 0.01 569354 0.55
Date of Decrease- 18-10-2019 Transfer -2400 0 566954 0.55
Date of Increase- 25-10-2019 Transfer 17682 0.02 584636 0.57
Date of Decrease- 01-11-2019 Transfer -250 0 584386 0.57
Date of Increase- 08-11-2019 Transfer 618 0 585004 0.57
Date of Decrease- 22-11-2019 Transfer -1560 0 583444 0.57
Date of Decrease- 29-11-2019 Transfer -65810 -0.06 517634 0.5
Date of Increase- 06-12-2019 Transfer 216870 0.21 734504 0.71
Date of Increase- 13-12-2019 Transfer 84890 0.08 819394 0.79
Date of Decrease- 20-12-2019 Transfer -3300 0 816094 0.79
Date of Decrease- 27-12-2019 Transfer -99500 -0.1 716594 0.69
Date of Decrease- 03-01-2020 Transfer -500 0 716094 0.69
Date of Increase- 10-01-2020 Transfer 115000 0.11 831094 0.81
Date of Decrease- 17-01-2020 Transfer -150000 -0.15 681094 0.66
Date of Increase- 24-01-2020 Transfer 950 0 682044 0.66
Date of Decrease- 31-01-2020 Transfer -100143 -0.1 581901 0.56
Date of Increase- 07-02-2020 Transfer 49613 0.05 631514 0.61
Date of Decrease- 14-02-2020 Transfer -871 0 630643 0.61
Date of Decrease- 21-02-2020 Transfer -50792 -0.05 579851 0.56
Date of Increase- 28-02-2020 Transfer 128417 0.12 708268 0.69
Date of Increase- 06-03-2020 Transfer 625568 0.61 1333836 1.29
Date of Decrease- 13-03-2020 Transfer -40422 -0.04 1293414 1.25
Date of Decrease- 20-03-2020 Transfer -500 0 1292914 1.25
Date of Decrease- 31-03-2020 Transfer -100 0 1292814 1.25
At the end of the year 1292814 1.25 1292814 1.25
9 Guiness Securities Limited
At the beginning of the year 853528 0.83 853528 0.83
At the end of the year 853528 0.83 853528 0.83
10 Emerging Markets Core Equity Portfolio (The Portfolio) Of DFA Investment Dimensions Group Inc. ((DFAIDG)
At the beginning of the year 667531 0.65 667531 0.65
At the end of the year 667531 0.65 667531 0.65
11. Fidility Group Trust for Employee Benefit Plans Fiedlity Low-Priced Stock Commingled Pool
At the beginning of the year 555708 0.54 555708 0.54
At the end of the year 555708 0.54 555708 0.54
12 Jashvant Mansukhlal Shah
At the beginning of the year 579000 0.56 579000 0.56
Date of Decrease- 05-04-2019 Transfer -50000 -0.05 529000 0.51
Date of Decrease- 12-04-2019 Transfer -50000 -0.05 479000 0.46
Date of Decrease- 19-04-2019 Transfer -50000 -0.05 429000 0.42
Date of Decrease- 26-04-2019 Transfer -50000 -0.05 379000 0.37
Date of Decrease- 03-05-2019 Transfer -50000 -0.05 329000 0.32
Date of Decrease- 10-05-2019 Transfer -50000 -0.05 279000 0.27
Date of Decrease- 17-05-2019 Transfer -50000 -0.05 229000 0.22
Date of Decrease- 24-05-2019 Transfer -50000 -0.05 179000 0.17
Date of Decrease- 31-05-2019 Transfer -50000 -0.05 129000 0.13
Date of Decrease- 07-06-2019 Transfer -50000 -0.05 79000 0.08
Date of Decrease- 14-06-2019 Transfer -50000 -0.05 29000 0.03
Date of Increase-30-08-2019 Transfer 53378 0.05 82378 0.08
Date of Decrease- 06-09-2019 Transfer -20755 -0.02 61623 0.06
Date of Decrease- 13-09-2019 Transfer -31400 -0.03 30223 0.03
Date of Decrease- 20-09-2019 Transfer -17916 -0.02 12307 0.01
Date of Decrease- 30-09-2019 Transfer -12307 -0.01 0 0
At the end of the year 0 0 0 0

(v) Shareholding of Directors and Key Managerial Personnel:

Sr. Particulars Reason for Change

Shareholding at the beginning of the year

Cumulative Shareholding during the year

No. of Shares % of total Shares of the company No. of Shares % of total Shares of the company
DIRECTORS
1. *Mr. Mayank S. Mehta
At the beginning of the year Nil movement during the year 0.00 0.00 0.00 0.00
At the end of the year 0.00 0.00 0.00 0.00
2. Mr. Santosh Laxman Parab
At the beginning of the year Nil movement during the year 2,300 0.00 2,300 0.00
At the end of the year 2,300 0.00 2,300 0.00
3. **Mr. Gautam R. Ashra
At the beginning of the year Nil movement during the year 34,18,302 3.31 34,18,302 3.31
At the end of the year 34,18,302 3.31 34,18,302 3.31
4. Mr. S. R. Vaidya
At the beginning of the year Nil movement during the year 0.00 0.00 0.00 0.00
At the end of the year 0.00 0.00 0.00 0.00
5. Mr. S. N. Kamath
At the beginning of the year

Nil movement during the year

3,43,57,024

33.31

3,43,57,024

33.31
At the end of the year 3,43,57,024 33.31 3,43,57,024 33.31

6. Dr. Vibha Gagan Sharma

At the beginning of the year Nil movement during the year 0.00 0.00 0.00 0.00
At the end of the year 0.00 0.00 0.00 0.00
7. Mrs. Shruti Vishal Rao
At the beginning of the year Nil movement during the year 0.00 0.00 0.00 0.00
At the end of the year 0.00 0.00 0.00 0.00
8. #Mrs. Shilpa Bhatia
At the beginning of the year Nil movement during the year 0.00 0.00 0.00 0.00
At the end of the year 0.00 0.00 0.00 0.00
Key Managerial Personnel
9. Ms. Aditi Bhatt
At the beginning of the year Nil movement during the year 0.00 0.00 0.00 0.00
At the end of the year 0.00 0.00 0.00 0.00
10. Mr. Vipul Babulal Thakkar
At the beginning of the year Nil movement during the year 50,289 0.05 50,289 0.05
At the end of the year 50,289 0.05 50,289 0.05

V. INDEBTEDNESS:

Indebtedness of the Company including interest outstanding/accrued but not due for payment:

Secured Loans excluding deposits Unsecured Loans Deposits ( in Lakh) Total Indebtedness
Indebtedness at the beginning of the financial year
i) Principal Amount 3,504.38 100.00 - 3,604.38
ii) Interest due but not paid - 15.30 - 15.30
iii) Interest accrued but not due 26.06 - - 26.06
Total (i+ii+iii) 3,530.44 115.30 - 3,645.74
Change in Indebtedness during the financial year
Addition 2543.47 - - 2543.47
Reduction 1,213.94 115.30 - 1329.24
Reinstatement 359.46 - - 359.46
Net Change 1688.99 (115.30) 1573.69
Indebtedness at the end of the financial year
i) Principal Amount 5,219.43 - - 5,219.43
ii) Interest due but not paid - - - -
iii) Interest accrued but not due 36.87 - - 36.87
Total (i+ii+iii) 5,256.3 - - 5,256.3

VI. REMUNERATION OF DIRECTORS AND KEY MANAGERIAL PERSONNEL:

A. Remuneration to Managing Director, Whole-Time Directors and/or Manager:

Sr. Particulars Name of MD/WTD/Manager
S.N. Kamath Managing Director(MD) Vibha Sharma Whole-Time Directors (WTD) Shruti Rao Whole-Time Directors (WTD)
1. Gross Salary 233.00 47.70 47.70
(a) Salary as per provisions contained in section 17(1) of the Income Tax Act - - -
(b) Value of perquisites u/s 17(2) Income Tax Act, 1961 - - -
(c) Profits in lieu of salary under Section 17(3) Income Tax Act, 1961 - - -
2. Stock Option - - -
3. Sweat Equity - - -
4. Commission
- As % of Profit
- Others, specify - -
5. Others, please specify
Sitting Fees
Total (A) 233.00 47.70 47.70
Ceiling as per the Act Remuneration paid to MD and WTDs are within the limits prescribed under Schedule V of the Companies Act, 2013.

B. Remuneration of other directors:

( in Lakh)

Particulars Name of Directors
*Mayank S. Mehta Independent Director S. R. Vaidya Independent Director Santosh Parab Independent Director #Shilpa Bhatia Independent Director Gautam R. Ashra Non-Executive Non- Independent Director
Fee for attending board committee meetings 0.90 1.20 1.20 - 1.20
Commission - - - -
Others,please specify - - - -
Total (1) 0.90 1.20 1.20 - 1.20
Other Non-Executive - - - -
Directors
Fee for attending board committee meetings - - - -
Commission - - - -
Others, please specify - - - -
Total (2) - - - -
Total (B) = (1+2) 0.90 1.20 1.20 - 1.20
Ceiling as per the Act Sitting fees paid to the Independent Directors was within the ceiling limit as prescribed under the Companies Act, 2013.

*Mr. Mayank S. Mehta has resigned his Directorship from the Board of the Company w.e.f. w.e.f. February 24, 2020..

# No sitting fees has been given to Mrs. Shilpa Bhatia as has been appointed w.e.f. February 11, 2020 and no Board Meeting held and no Committee meeting held where she was the member till March 31, 2020.

C. Remuneration to Key Managerial Personnel other than MD/ Manager/ WTD

SSr. Particulars of Remuneration No. Vipul Thakkar Chief Financial Officer Aditi Bhatt Company Secretary Total Amount
1. Gross Salary 36.16 7.45 43.61
(a) Salary as per provisions contained in section 17(1) of the Income Tax Act - - -
(b) Value of perquisites u/s 17(2) Income Tax Act, 1961 - - -
(c) Profits in lieu of salary under Section 17(3) Income Tax Act, - - -
1961
2. Stock Option - - -
3. Sweat Equity - - -
4. Commission - - -
- As % of Profit
- Others, specify
5. Others, please specify - - -
Total 36.16 7.45 43.61

VII. PENALTIES/ PUNISHMENT/ COMPOUNDING OF OFFENCES

Type Section of the Companies Act Brief Description Details of Penalty/ Punishment/Compounding fees imposed Authority [RD/ NCLT/COURT] Appeal, if any (give details)
A. COMPANY
Penalty - - - - -
Punishment - - - - -
Compounding - - - - -
B. COMPANY
Penalty - - - - -
Punishment - - - - -
Compounding - - - - -
C. OTHER OFFICERS IN DEFAULT
Penalty - - - - -
Punishment - - - - -
Compounding - - - - -

 

For and on behalf of Bliss GVS Pharma Limited
Sd/- Sd/-
S. R. Vaidya S. N. Kamath
Chairman & Independent Director Managing Director
(DIN:03600249) (DIN:00140593)
Place: Mumbai
Date: August 20, 2020