Dear Stakeholders,
I am delighted to present the prospects of your company for the next few years.
The financial year 2023-24 has been a challenging one for the entire pharma sector and
for us as well.
The demand from the pharma sector was on the slower side with a lot of fluctuations in
in the raw material prices, with the result this segment has gone through a large
fluctuation in terms of both demand and prices.
However, even in the face of these challenges, I am happy to state that your company
has with all the relentless efforts been almost able to sustain the top line with improved
profitability. The EBIDTA improved by 31.63% and net PAT improved by 46.57% at the end of
FY 2023-24.
In terms of market, we are exploring and penetrating in new markets to enhance customer
base in the domestic market as well as globally.
I am glad to share that your company has started works to execute a sizeable expansion
plan, for manufacturing API and intermediates in the segments of Anti HIV, Nootropic
drugs, Xanthine's and anticonvulsants.
We have also acquired 17.5 Acres land in MIDC KRUSHNOR in Nanded District, for further
expansion. Our team's unwavering efforts and commitment towards achieving innovation and
excellence by integrating cutting edge technologies combined with our strength of
engineering in achieving cost effective volume-based manufacturing with highest level of
safety and commitment towards environment and health of our employees and the society in
the driving force towards achieving our goals.
I would like to take this opportunity to appreciate and recognize the efforts and
contributions and commitment of each and every member of our organization without which we
would not have been able to achieve our goals and plan for future.
I would like to appreciate and thank my colleagues on the Board for their valuable
guidance as always.
I would also like to express my gratitude to all our shareholders for imposing faith in
us as always.
Mr. Ghanshyam Jaju
Chairman.