- Forward-Looking Statements
We have in this report, discussed certain forward looking statements to enable shareholders and investors to understand our prospects so as to enable everyone to take informed investment decisions.
Certain statements forward looking statements
- Industry Structure and Developments
The global economy has suffered through the year due to the continued impact of the COVID-19 pandemic. Deteriorating risk sentiments and a stressed financial situation have resulted in weak overall global economic growth.
The pharmaceutical industry has been one of the better performing industries in terms of growth. Despite all the difficulties and uncertainties, the overall market growth is a positive indication.
Domestic consumption and the fact that India is a major global provider of generic drugs are positive factors for Indian pharmaceutical manufacturers.
Here are some of the specific factors that have contributed to the growth of the pharmaceutical industry :
• Increased demand for generic drugs due to the rising cost of prescription drugs.
• Growing focus on research and development of new drugs and treatments.
• Expansion into new markets, such as China and India.
• Acquisitions and mergers of pharmaceutical companies.
Overall, the pharmaceutical industry is expected to continue to grow in Current year , albeit at a slower pace than in previous years. The industry is facing some challenges, such as rising costs and increasing competition, but it is also well-positioned to capitalize on opportunities in emerging markets and new technologies.
- Opportunities and Risks
The company is working towards adding more products in the neurology and cough syrup segments. These are two large and growing markets, and the company believes that there is an opportunity to expand its market share in these areas.
The company is also working to increase its customer base in the quinolones segment. Quinolones are a type of antibiotic that is used to treat a variety of infections. The company believes that there is an opportunity to expand its sales in this segment by targeting new customers and increasing its marketing efforts in both domestic and export markets.
The Company is also focusing on backward integration in some of the existing products and manufacturing intermediaries for various API.
Here are some of the specific opportunities and risks that the company faces:
Opportunities: | Risks: |
• Growth in the neurology and cough syrup segments | • COVID-19 pandemic and related uncertainties |
• Expansion of customer base in the quinolones segment | • Increased competition |
• New product development | • Rising costs |
• Expansion into new markets and Customers. | • Regulatory changes |
The financial highlights are as under: -
Sales for the year 2022-23 | 16,028.01 |
Profit after tax | 378.58 |
Paid up equity share capital as on 31st Mar2023 | 753.05 |
Finance costs | 392.73 |
Depreciation / Amortisation | 194.35 |
Employee Benefit Expenses | 484.04 |
- Risks and Outlook
Our company maintains an integrated risk management approach, regularly assessing risks to ensure the implementation of robust risk controls and mitigation measures. Management conducts periodic reviews to stay updated and address emerging challenges effectively. We are committed to fostering a risk-aware culture and continuously improving our practices to protect stakeholder interests.
- Internal control systems
Our company has implemented robust internal control systems that align with the nature of our business and operations. These systems ensure the reliability of financial reporting, provide timely feedback, and support the achievement of operational and strategic goals. We are dedicated to compliance with policies, procedures, applicable laws, and regulations.
We are proud to state that we have not encountered any significant instances of fraud involving our management or employees with significant roles in our internal control system over financial reporting.
As part of our responsibility, we actively establish and maintain internal controls for financial reporting. We conduct thorough evaluations of the effectiveness of these controls and promptly disclose any identified deficiencies to the auditors and the audit committee. We take proactive measures to address these deficiencies and ensure their timely resolution.
Our unwavering commitment to maintaining robust internal control systems demonstrates our commitment to transparency, accountability, and exemplary corporate governance. We continuously strive to enhance and strengthen our internal control framework to protect the interests of our stakeholders and uphold the integrity of our financial reporting processes.
- Human Resources
At our company, human resource development remains a top priority. We have established a structured process to identify, recruit, train, and retain young talent. Through various programs, we nurture these young talents, providing them with mentoring and coaching opportunities to prepare them for senior and responsible positions.
We firmly believe that our employees are integral to achieving our objectives and driving our growth. Throughout the year, we fostered cordial and harmonious industrial relations, creating a positive and supportive work environment.
Our commitment to developing our human resources underscores our belief that investing in our employees is vital to our success. We will continue to focus on empowering our workforce, enabling them to contribute to our companys growth trajectory and realizing their full potential.
www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.
Copyright © IIFL Securities Ltd. All rights Reserved.
Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213, IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
This certificate demonstrates that IIFL as an organization has defined and put in place best-practice information security processes.
www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.
Copyright © IIFL Securities Ltd. All rights Reserved.
Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213, IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
This certificate demonstrates that IIFL as an organization has defined and put in place best-practice information security processes.