NSE Symbol: | BSE Code: | ISIN: | Sector:
- Add to Portfolio
- Add to Watchlist
- Add to Alert
The year gone by has been a year of transformation in the 29 year old history of Neulands existence. The initiatives that we took in FY 12, such as the launch of new high value products in line with customer expectations, focus on cost optimization and the financial re–organsation of the Company post the rights issue to strengthen its financial position, have all yielded the desired results.
Businesses today need to confront multiple challenges concurrently increasing costs, fluctuating currencies, slowing demand, higher cost of borrowings, weakened investment sentiments etc. The global GDP growth came down to 1.2% in FY12 while India recorded its decade–low GDP growth of 5% in the FY12–13. Amidst such testing macro–economic environment, we continued to make all–round progress in line with our strategic plans. All–round operational enhancement coupled with few strategic initiatives has resulted in having a far–reaching impact on our future growth prospects.
With an aim to strengthen our focus on manufacturing of APIs & intermediates, explore the true potential of contract manufacturing and strengthen the liquidity of the Company; we re–organized Lab Scale Contract Research services and moved it into another group company, Neuland Pharma Research Private Limited. Similarly, we also moved our Lab Scale Peptides Research services to Neuland Health Sciences Private Limited (Holding Company). These actions helped us in achieving our desired objectives of pre–paying some long–term debts leading to improved gearing, enhanced credit ratings and liquidity.
Our R&D continues with a strategy of working on high–margin products with a pipeline of 18–20 new products every year, which are at different stages of development. Our R&D and manufacturing teams continued with various cost control and process enhancement initiatives. To further add, we strengthened our product–mix with launch of five new products during the year.
During the year under review, we also had inspections by various health authorities across the world and our commitment to Quality and Safety ensured our adherence to the inspections.
We also entered into a joint business agreement with Mitsubishi Chemicals API Corporation, Japan. This move will further enable us to penetrate in the challenging market of Japan for which we have been working since 2003.
I am thankful to our customers and vendors, who have stood by us over the years and also the leadership team, which showed its perseverance and belief in the transformation that we have been pursuing. With these initiatives in place, our vision of becoming a leading profitable global APIs Company of repute is getting firm with every passing year. All along, continued trust and patronage of our stakeholders have played a vital role. I extend my sincere thanks to you, our fellow stakeholders, for your support.
Dr. D. R. Rao
Chairman & Managing Director