Today's Top Gainer
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INDUSTRY STRUCTURE & DEVELOPMENT
The pharmaceutical industry is in the midst of major discontinuities. While growth in developed markets will slow down, emerging markets will become increasingly important in the coming decade. The Indian pharmaceuticals market, along with the markets of China, Brazil and Russia, will spearhead growth within these markets.
The Indian pharmaceuticals market has characteristics that make it unique. First, branded generics dominate, making up for 70 to 80 per cent of the retail market. Second, local players have enjoyed a dominant position driven by formulation development capabilities and early investments. Third, price levels are low, driven by intense competition. While India ranks tenth globally in terms of value, it is ranked third in volumes. These characteristics present their own opportunities and challenges.
India is the largest provider of generic drugs globally. The Indian pharma industry supplies over half of the global demand for vaccines, one third of the demand for generics in the US and one fourth per cent of all medicines in the UK. The nation enjoys an important position in the global pharma sector. Therefore, the future of Indian pharma industry is quite bright and MBL is ready to seize these opportunities.
DISCUSSION ON FINANCIAL PERFORMANCE W.R.T. OPERATIONAL PERFORMANCE
The Companys revenue from operations during FY 2018-19 amounted to 12260.44 lacs against 11160.96 lacs in the previous year, recording a growth of 9.85%. EBIDTA for the year stood at 2067.45 lacs against 1836.61 lacs in previous year. Profit after tax for the year stood at 1202.57 lacs against 1011.27 lacs in the previous year, with growth of 18.92%.
MBL is trying to explore opportunities in export market. We are constantly filing dossier for product registration in Philippine, Uganda and Latin America. We are establishing a value-additive plant at Haridwar, which will strongly cater to the Oncology segment. Our plant at Haridwar will be operational from December 2019, which will exclusively manufacture Oncology Therapeutics.
As our company is export oriented company there are lot of opportunities to grow in the ROW market. MBL is in the process to look forward regulated markets. The beginning of Oncology Plant shall have its first opportunity to enter in EU & US markets. The Company is developing novel and innovative technologies for the manufacture of the life saving Oncology and non-oncology drug substances, validated and commercialised the same and made available at an affordable prices. This strength provides us with tremendous opportunities to enhance competitiveness, to improve our position in the market place.
The MBL environment reflects its commitment to be a leader in the Oncology generics space.Our generics business helps to reduce drug costs worldwide by bringing generics drugs to market as early as possible. The Company is investing in containment technologies for manufacture of Oncology drug products and made our manufacturing process sustainable.
INTERNAL CONTROL SYSTEM AND THEIR ADEQUACY
MBL has adequate internal control systems and procedures, covering all financial and operating functions commensurate to its size and nature of operations. A strong internal control framework is among the important pillars of corporate governance and the Company strives to enhance it consistently. It is designed to provide reasonable assurance regarding maintenance of accounting controls and assets from unauthorised use or losses. The Audit Committee considers all internal aspects and advises corrective actions as and when required.
The Companys workforce represents its foundation. The Company continued its policy of continuous training and motivation to enhance efficiencies and competencies. Progress made by the Company was made possible in no small measure by the efforts of the entire team. The total number of permanent employees was 238.
Industrial relations remained harmonious. Safety, welfare and training at all levels of our employees continue to be areas of major focus for the Company.
Certain statements in this Report describing the Companys objectives, projections, estimates, expectations or predictions may be forward-looking statements within the meaning of applicable securities laws and regulations. Although the expectations are based on reasonable assumptions, actual results could materially differ from those expressed or implied.