Dear Stakeholders,
It gives me immense pleasure to express my pride in our country and the pharmaceutical
industry, especially our Company, which have played a crucial role in fighting the
COVID-19 pandemic in Financial Year 2020-21.
The Indian Pharmaceutical Industry reinforced its importance and calibre of becoming a
global manufacturing hub, having delivered several lifesaving drugs, developed indigenous
vaccines for COVID-19 for adults and under-18s', and undertaken large- scale manufacturing
of COVID-19 vaccines. At the country level, the
Government focused on helping nations globally with these drugs, vaccines and other
essential supplies.
At our Company, we too played a part in the welfare of mankind while building on our
capabilities. On one hand, we leveraged our R&D competence to launch several key
products, in line with their heightened demand during the pandemic; on the other hand, we
capitalised on our manufacturing excellence to ensure sustained deliveries to our
customers globally, despite the challenges of API unavailability and travel restrictions.
The entire management of the Company was constantly monitoring the pandemic situation and
striving to minimise the impact of the same on its operations.
The Company considers its employees as an important asset. During these difficult
times, it provided them with strong support by implementing various safety and healthcare
measures. The Company also ensured paying full salaries with other privileges to all its
employees during the whole pandemic period.
Further, in view of the economic challenges, the Executive Directors voluntarily
decided to forgo a part of their remuneration. They also awarded the outstanding
performers during the pandemic period out of their personal funds.
I am thankful to our team, whose unparalleled dedication helped the Company tide over
the crisis.
We further utilised this year to build on our strong foundation by intensifying our
focus on product development and strengthening our global presence. We marked our presence
in several emerging countries in Asia Pacific, CIS, Africa, Middle East and LATAM. We
continue to explore more strategic partnerships to penetrate markets.
The coming years are going to be exciting for the Indian Pharmaceutical Industry in
terms of global growth opportunities, and our Company has the potential to grow faster
with it. We remain determined to continue with our legacy of serving people with quality
products and to create more value for all stakeholders while doing so.
Warm Regards,
CA Uday Kumar Gurkar
Chairman of the Board