ELDER PHARMACEUTICALS LIMITED
ANNUAL REPORT 2011-2012
CHAIRMAN`S REPORT
Dear Shareholders,
It is a pleasure writing to you at the end of another good year for the
Company, which saw us deliver industry-leading performance on double-digit
growth. Strong sales growth enabled us to exceed our strategic and
financial goals despite the challenging external environment. The year saw
us entrench ourselves even more firmly in the industry, as a durable,
sustainable and growth-led Company delivering exceptional value to
stakeholders year after year.
Business Overview
Our growth trajectory for more than two decades, has been mapped by our
strong focus on developing, marketing and distributing safe and innovative
pharmaceuticals that help to improve the quality of life of patients. This
strategy has enabled us to deliver long-term, profitable returns to our
investors, value to our partners and rewarding careers to our employees.
Riding on our long-term strategy and our unceasing commitment to
international grade quality, we have established a proven track record in
terms of our product portfolio - existing and pipeline products, industry
experience, as well as sales and marketing expertise. We are focussed on
continued expansion of our product scale and depth, with commensurate focus
on quality sustenance, to propel our future growth.
This focus steered your Company`s financial and operational performance
during the year gone by. We crossed the prestigious Rs. 1,000 crore mark on
a consolidated basis and our revenues stood at Rs. 1,334.78 crore. The
profit after tax clocked was Rs. 72.26 crore. Launch of several new
products - a mix of proprietary and in-licenced, facilitated the expansion
of our brand strength across our niche therapeutic areas. We strategically
capitalised on our flagship brands by introducing product extensions - an
approach that has always worked in your Company`s favour in the past.
In geographical terms, our focus on the domestic markets continued, with
our rural and mass marketing division Elvista driving growth.
Internationally, our revenues are led by your Company`s 100% subsidiary
NeutraHealth.
Future Forward
The strong growth witnessed by your Company during the year under review
has set the pace for future growth and value-delivery. The fundamentals are
in place and your Company is well equipped to take on the challenging
demands of the future on the strength of its skilled and creative R&D team
and its state-of-the-art infrastructure. Our well-recognised market
presence, coupled with a strong product portfolio which is being
continuously marked up with newer brands, together with technical prowess
built on efficient manufacturing capabilities, places us in a strong
position in the industry. What augments our growth capacity is the high
quality of our production, cost effectiveness and a well established
marketing and distribution network. Our expanding customer base
consistently drives our growth focus, enabling us to achieve greater brand
equity as we continue to surge on our path to progress.
Going ahead, these pillars of our growth trajectory will help us surge on
to greater heights, breaking new boundaries and seizing more emerging
opportunities in proprietary as well as in-licensing products.
In conclusion
Before I conclude, I would like to assure all of you of our steady and
resolute commitment to continue to create value for you. We appreciate the
confidence that you have reposed in us and earnestly look forward to your
continued support and encouragement in the time to come. I also take this
opportunity to thank the Board for their invaluable guidance and support
and the employees of Elder Pharma for their undaunted commitment,
incredible dedication and valuable contribution.
Warm Regards,
Jagdish Saxena
Chairman |