BOARD OF DIRECTORS
Mr. Shailesh Siroya | - | Managing Director |
Mr. Himesh Virupakshaya | - | Executive Director |
Dr. C.V Srinivas | - | Independent Director |
Ms. Nicloa Neeladrie | - | Independent Director |
Mr. Jatish Sheth | - | Independent Director |
*Mr. H S Venkatesh | - | Additional Director |
#Mr. Kotian Chittananda | - | Additional director |
Damodar |
- Ceased to be director w.e.f 22.05.2022 and Appointed w.e.f 23.05.2022
#Appointed w.e.f 30.05.2022
STATUTORY AUDITORS
Messrs NSVM & Associates
Chartered Accountants
INTERNAL AUDITORS
Messrs Murugesh & Company
Chartered Accountant
SECRETARIAL AUDITORS
Mr. Parameshwar G Bhat
Practising Company Secretary
COST AUDITORS
Mr. M.R Krishna Murthy
Cost Accountant
REGISTRAR & TRANSFER AGENTS
TSR DARASHAW CONSULTANTS PRIVATE LIMITED C 101, 1st Floor, 247 Park, Lal Bahadur Shastri Rd, Vikhroli West, Mumbai, MH - 400083.
COMPANY PROFILE
PLANT LOCATIONS
- Unit 1 - Formulations
- 21 & 22, Bommasandra Industrial Area Bangalore-560099. Karnataka.
- Unit 2 - API's
- 61/B, Bommasandra Industrial Area Bangalore-560099. Karnataka.
- Unit 3 - Parenterals (Temporarily non-operational)
- 732/735, Off National Highway No.4
Village Kenjal, Dist Bhor.
Maharashtra.
-
Unit 4 - Formulations
Plot # 1,2,3&69, Sector 4, IIE-Pantnagar Rudrapur, Udham Singh Nagar
- 263153, Uttarakhand. - Unit 5 - Intermediates
Thabadewadi Post, Kavatha Mahankal Sangli-416405, Maharashtra. - Unit 6 - API's and Intermediates
Golden Drugs Private Ltd, (100% Subsidiary)
# C-155, Mewar Industrial Area Madri, Udaipur-313001, Rajasthan. Rajasthan.
BANKERS
Canara Bank
HDFC Bank
CONTENTS
From Managing Director's Desk | 1 |
Notice | 3 |
Management Discussion & Business Analysis | 29 |
Board's Report | 32 |
Report on Corporate Governance | 44 |
Standalone Audit Report | 66 |
Standalone Financial Statements | 78 |
Consolidated Audit Report | 137 |
Consolidated Financial Statements | 144 |
In particular, on the domestic front, our formulations business has been witnessing positive momentum and has reported 11% growth YoY. We also launched an anti-diabetic drug DapagliBozin, under the brand name Dapaten. With this, we have further consolidated our market share in the diabetes therapeutic segment.
I am pleased to inform you that our PBT increased by 23.07% YoY to INR 120.56 Mn in FY2022; and our PAT for the year for FY2022 stood at INR 85.74 Mn versus INR 91.85 Mn in Fy2021.
PRODUCTION LINKED INCENTIVE SCHEME
The Government of India is working towards enhancing the development of the pharmaceutical industry through various initiatives. A production-linked incentive scheme is one such scheme that is expected to ensure an enhancement in manufacturing capabilities, introductions of more innovative products, and an improvement in research and development of pipeline products. As the Government's objective is geared towards making India a leading pharma product supplier in the forthcoming years, we expect to bene t from the launch of several more supportive schemes in the near future.
In the meantime, I am pleased to inform you that Bal Pharma has received PLI approvals under the MSME 'Category C' of the scheme. The Company's various products in API and intermediates are now eligible for incentives over 6 years through this scheme via increased revenues. This will help us to diversify our product portfolio, increase our top line, and enhance our proStability & margin proSle.
STRENGTHENED STRATEGY
I am happy to note that your Company has a good pipeline both in FDFs and APIs, which we expect will lead to robust growth in the coming future. We have been continuously working hard to expand our geographical footprint in both domestic and international markets. As a part of these expansion initiatives, we are signi cantly strengthening the medical representative team. Currently, we have more than 400+ medical representative and we are consistently focusing on improving this strength. Furthermore, we are placing greater focus on enhancing our ef ciency across the business. Manufacturing ef ciency, rationalisation of our research and development, and cost optimisation are the targeted areas for improvement. All these efforts are empowering us to be leaner and sharper, and we look forward to reaping the bene ts from these efforts in the medium to long run.
A POSITIVE OUTLOOK ON THE FUTURE
market dynamics and Company fundamentals, I expect your Company to have a promising future. Your Company is undertaking all efforts to cater to the maximum market share catering to multiple markets with its strong portfolio. We are positive that our short-term and long-term efforts will position us to generate enhanced proStability and stakeholder value.
As an organisation, we are committed to business sustainability and business ethics. The Company making efforts to reduce greenhouse gas emissions through several measures, including changing infrastructure and implementing new technologies. The Company also intends to mitigate the different implications of climate change and other ESG-related factors across its business operations.
As we end this nancial year, we would like to extend our sincere thanks to the Board of Directors, stakeholders, business partners, and our hardworking employees. We would also like to thank society and all other stakeholders for their contribution towards making what we do enjoyable and empowering to the communities we serve.
The growth opportunities in both domestic and international markets are ample and"sizeable for Bal Pharma. With strong
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Bal Pharma Limited published this content on 26 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 August 2022 19:40:03 UTC.