"WE WILL LEVERAGE THE NEW ENERGY WITHIN THE ORGANISATION TO TAKE
VENUS TO GREATER HEIGHTS AND UNLOCK VALUE FOR EVERYONE WHO BELIEVES IN US."
This is a good time to be addressing you as Venus continues to scale
new heights driven by new energy within the organisation that is pushing the team to
strive harder than they have ever done before.
This new energy is exciting for this is a New Venus that is leaving no
stone unturned to maximise value from every rupee invested in the business. This drive is
reflected in our numbers. In FY21, we felt our performance had peaked. In FY22, we only
set a new benchmark.
While the pandemic was debilitating in its impact, some positives
surfaced for us. It gave us the opportunity to transform Venus from a conventional
organisation into an agile and super-efficient digital enterprise that is knowledge-driven
in its decisions and operations.
FY22 will remain in my memory as a period in which we implemented
path-breaking initiatives that hold the promise to firmly place our feet on the
progressive journey.
In the R&D space, the product selection algorithm based on business
logic and data analytics has uniquely streamlined the entire R&D process and brought
new vigour into the team. In the R&D space, our Renal Guard program has attained
significant maturity.
It has become our answer to what is next after Elores. Going forward,
this platform will require considerable energy to develop it to its full potential. Within
this progam, we are making our first drug which is under development.
In the business development area, we have overhauled our international
marketing area which has already started showing results. I am convinced that we will
continue to build on this in the coming years which will strengthen our global presence.
In keeping with our efforts to realign our revenue between acute and
chronic therapies, we increased our thrust on widening the awareness of and growing the
acceptance of our large basket of oncology products in the markets of our presence. These
efforts yielded particularly healthy results. We will continue to build upon this in the
coming years. We will also increase our oncology portfolio and product basket in other
chronic therapies which will enable us to achieve our desired balance.
In the domestic market, I am pleased to share that we launched the
Consumer Healthcare division. We are looking at this division as a start-up. We have
recruited fresh blood to run this division.
We altered our pain-management solution Trois (a prescription product)
to R3SET which is an OTC solution available in multiple SKUs. In the first few months of
its launch, we received heartening traction for our products. We have many more product
launches planned for this division in the current year.
With climate change and carbon neutrality gaining center stage at the
global level, we have initiated an ambitious project of ascertaining the organisation's
carbon footprint. With the available information, we will devise strategies for minimising
the carbon count on a product- wise basis by leveraging technology. As the first step in
this direction, we have made some of our administrative processes paperless. Going
forward, we would analyse and improve all our processes to minimise our carbon footprint.
It will allow us to align with the United Nations Sustainability
Development Goals over the coming years.
FY23 for us would be equally exciting for we have planned many more
such projects which promise to take the organisation into a new orbit. They include new
product launches, growing our consumer healthcare division, strengthening our
international presence, and getting more IT solutions in place. It will be another year
brimming with activity across every aisle of the organisation. I remain optimistic about
an even better performance as we step into FY23 with confidence.
I, on behalf of my colleagues on the Board, take this opportunity to
thank all our stakeholders for their support and belief in the Management. We will
leverage the new energy within the organisation to take Venus to greater heights and
unlock value for everyone who believes in us.
Stay Safe.
Warm regards,
Pawan Chaudhary
Chairman & Managing Director