The year 2023 proved to be a joyous period for the global economy. Since the beginning of the year, there were a lot of growing voices about the deteriorating situation in Ukraine, but the beginning of the conflict took all by surprise. While the loss of human life and the sufferings it induced is undeniably unfathomable, its impact on the overall global economy was also profound. Government of India is in forefront for health, care, innovation and growth. Government in its Union Budget 2023 announced new programs and goals to continue leading from the front. India leads globally in vaccine production and is the largest producer of generic medications , accounting for 20 per cent of the total worldwide supply by volume. Outside of the United States, India has the most pharmaceutical factories that comply with US-FDA regulations. To build for the beyond, government focus on inclusive sustainable growth for the sector. The Indian health-tech market is expected to grow at an annual rate of 39 per cent over FY20-FY23 and forecasted to reach US$50 billion by 2033.
The Indian pharmaceutical market is anticipated to reach $130 billion in value by the end of 2023 as a result of a rising consensus on the provision of new, innovative medicines to patients. In the meantime, it is predicted that the size of the worldwide market for pharmaceutical goods would surpass $1 trillion in 2023. Thus for research and development, government of India has taken important measures in the Union Budget Session 2023.
The Economic Survey 2022-23 has shown Indias domestic pharmaceutical market is anticipated to reach $ 130 billion by 2030, and the pharma sector has maintained its growing pace following the pandemic. The Ayushman Bharat Digital Mission seeks to provide the framework required to sustain the nations integrated digital health infrastructure as well. The digitalisation, innovation and Research & Development in the pharma sector will help India maintain its leading role globally.
INDUSTRY STRUCTURE & DEVELOPMENTS:
The Pharmaceutical Drug Industry plays a pivotal role in strengthening the healthcare sector of the Nation. Over a period of time, Pharma industry has considerably contributed to GDP, employment generation, foreign exchange reserves of the Nation. The Indian Pharmaceutical industry plays a prominent role in the global pharmaceutical industry.
GLOBAL BULK DRUGS MARKET:
Three segments - Branded Prescription drugs, Over-the- Counter (OTC) drugs and Generic Prescription drugs
account for a majority of global bulk drug consumption. The total global bulk drug consumption is expected to reach USD 215 billion by 2023 at a CAGR of 6.5% during the forecast period out of which 80% is used for Branded Prescription drugs, 10% for OTC drugs and 10% for Generic Prescription drugs.
INDIAN BULK DRUG Market:
India is expected to be the 3rd largest global market for Bulk Drugs with a 7.5% increase in market share. There are 1150 bulk drug units producing about 350 important Bulk Drugs. The market analyst forecast the API markets in India to grow at a CAGR of 11% over the period of 2021-2025.
about REMEDIUM LIFECARE LIMITED:
Remedium Lifecare Limited is engaged in the business of trading in Advanced Pharmaceutical Intermediates, Active Pharmaceutical Ingredients (APIs) and other pharma products used viz. Iso propyl Alcohol (IPA) ,Cyclohexane, DI Iso Propyl Amine (DIPA), Ethyl Acetate, Hydrazine Hydrate, Iso propyl Alcohol (IPA), Methylene Di Chloride, Potassium Carbonate Powder, Sodium Bi-Carbonate, Potassium Hydroxide Flakes, Sodium Chloride (Common Salt), Sodium Carbonate (SODA ASH), Amino isophthalic Acid, Tellurium(IV) Oxide, Grignard Reagent, Iodine, Selenium Metal Powder, Trimethyl Sulfoxonium Iodide (TMSI).
financial performance with respect to operational performance:
During the financial year 2022-23, the Company achieved a turnover of Rs. 50983.66 Lakhs as compared to Rs. 50479.19 lakhs during the previous year. Thus the income from operations of the Company has been increased by 1% as compared to last years revenue from operations
During the year 2022-23, the net profit of the company has been increased from Rs. 107.78 lakhs to Rs.542.61 lakhs higher by 403.47% as compared to previous year.
The company is taking all efforts to improve the quality of its products to get more orders at competitive rates. Due to bulk orders and bargain power Company is able to quote better rates and maintain high quality & productivity of the products traded. Barring unforeseen circumstances the company is confident of achieving better results in the current year.
INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY:
The Company has strong and adequate internal control system suitable to its size and nature of business. We constantly upgrade our systems for incremental improvements.
The Audit Committee of the Board regularly reviews the Internal Control System. The system ensures protection of assets and proper recording of transactions.
Internal audit is carried out by an Internal Auditor appointed by the Company on a quarterly basis. The internal auditors reports are regularly received by the Audit Committee. It is a regular practice to review the issues raised by Internal Auditors and statutory auditors by the Audit Committee.
RISKS AND CONCERNS
The impeding threats arising out of geopolitical tensions, stock market volatility, growing concerns about a rise in the commodity and energy prices, the inflationary impact, potential interest rate hikes to reduce liquidity are likely to pose threats going forward.
CAUTIONARY STATEMENT :
Statement in the Management Discussion and Analysis may be "forward looking statements" and are based on the currently available information. The management believes these to be true to the best of its knowledge at the time of preparation of this report. However, these statements are subject to certain future events and uncertainties, which could cause actual results to differ materially from those, which may be indicated in such statements.