CHAIRMAN'S LETTER
To Shareholders
Dear Shareholder,
It has been another remarkable year for Trident Lifeline Limited as we continue to
scale new heights. I am grateful to all our stakeholders who have been the strength of our
organisation.
Following our successful IPO in 2022, Trident Lifeline has been on an unstoppable
mission to scale the business to new heights, supported by its bolstered capital
structure. The listing has empowered us with capital for expansion, which we have
judiciously used in acquiring strategic stakes and making investments to strengthen our
supply chain and overall business model. This has enabled us to further advance our
mission of delivering high-quality pharmaceutical and healthcare solutions.
The last financial year noted some key milestones. Our subsidiary, TNS Pharma Private
Limited, commissioned its manufacturing facility in April 2024. This formulation facility
boasts a significant capacity to manufacture capsules, tablets, and dry bottle powders,
strengthening Trident Lifeline's overall manufacturing capabilities and business model.
This strategic move was coupled with others, as we announced the acquisition of a 51%
majority equity stake in TLL Herbal Limited, a Company in the herbal products business
that complements and expands our existing product portfolio. We also acquired a minority
stake in Tricorp Industries, extending our exposure beyond formulations into the domain of
intermediates for specialty chemicals, agrochemicals, adhesives, and human and veterinary
APIs. Lastly, we announced the acquisition of a 51% equity stake in TLL Parenterals
Limited. All of these strategic investments bolster our collective strengths and
strengthen our business model.
By prioritising strategic partnerships over solely setting up new facilities, we ensure
sustainable growth and success. Through these strategic moves, Trident Lifeline Limited is
well-equipped to seize new opportunities, expand our global footprint, and continue our
commitment to improving lives through innovative healthcare solutions.
FY24 has been an eventful year for our Company. Trident Lifeline Limited concluded FY24
with impressive growth in its Revenue from Operations. For FY24, the Company's revenue
stood at Rs.4,670.72 Lakhs, reflecting a 42% growth over FY23's Rs.3,285.45 Lakhs. Despite
the strong revenue performance, profitability margins experienced some compression due to
lower gross margins and increased finance costs, as well as depreciation and amortisation
expenses. Some of these upfront costs are associated with recent strategic investments in
entities such as TNS Pharma, Tricorp Industries, and TLL Herbal. As these investments
mature, they are expected to yield significant benefits, enhancing the Company's
operational scale and profitability.
Over time, as these investments start to yield results, they will have a positive
impact on our financial performance.
Looking ahead, Trident Lifeline's outlook for the coming financial year remains
optimistic. The Company is poised to expand its business operations at both standalone and
consolidated levels through a strategic mix of organic and inorganic growth initiatives.
With continuous investments in product registrations, an expanding product portfolio, and
a strengthened supply chain, Trident Lifeline is well-positioned to capitalise on emerging
opportunities and drive sustainable growth in the global pharmaceutical landscape. We are
writing to express our willingness regarding the acquisition of TLL Parenterals limited
and its subsequent integration as a subsidiary in near future.
The year ahead holds immense potential and promises new milestones as we continue to
drive innovation, pursue growth opportunities, and deliver exceptional value to our
stakeholders. Another important milestone this year has been your Company completing 10
years in its journey. It is important to acknowledge all those who have been instrumental
in our journey leading up to here, most of all our employees.
On behalf of the entire team at Trident Lifeline Limited, I express my heartfelt
gratitude to all our stakeholders for their unwavering support and trust.
Sincerely,
Hardik Desai
Chairman.