AARTI DRUGS LIMITED
ANNUAL REPORT 2003-2004
Aarti Drugs Limited was promoted in September, 1984 by a group of
technocrat During the current year. the Company is heading to complete two
decades of its existence with achievements of several milestones. I would
like to record the Company's achievements so far to congratulate the
Company's dedicated management team, executives, staff and workers at all
levels which have made this possible. I am sure this would certainly
inspire us for much bigger pursuits by unleashing oil inherent potentials
inclucated in our work culture, capabilities. confidence and creditability
with Customers, commitment to constant growth and desire to reach new
1. Sales : year 2003-2004, the Company has achieved highest ever Sales of
more than Rs.237 crores.
2. Dividend : For the year 2003-2004, the Company has declared/recommended
highest ever Total Dividend of Rs.3 (30%) per share.
3. Shares Liquidity: During the year 2003-2004, the Company's Shares also
got listed on the National Stock Exchange in addition to listing on The
Stock Exchange Mumbai and Ahmedabad Stock Exchange.
4. Market Leadership : Over the years, the Company has been able to carve a
niche for itself by establishing its strong presence in the anti-diarrhea,
anti inflammatory therapeutic groups with products like tinidazole,
metronidazole, secnidazole. diclofenac sodium, ranitidine hcl, nimesulide,
rofecoxib, etc. Due to changge in disease profile in India from diseases
related to poor higenic conditions to life style diseases, the Company has
focused its attention on the Cardio Vascular. Anti-diabetic, Anti-
depression, Anti-biotic therapeutic groups with the products like
Ticlopidine, Clopidogrel, Rofecoxib Valdecoxib, Ciprofloxacin etc. The
Company, in fact, enjoys market leadership in eight out of its fifteen
principal product. The Company's commitment to customer service in terms
quality and timely delivery was marked by the Best Vendor Award 2000-2001
from Organisation of Pharmaceutical Producers of India (OPPI).
5. Large Customer base: Domestically, the Company has been supplier to well
known pharmaceutical companies in India which includes Pfizer, Glaxo,
Merck, Knoll Pharmaceuticals, Sandoz, Ranbaxy, Dr. Reddy's Laboratories,
Cipla, Sun pharmaceuticals. Cadila Group, Ipca Laboratories, Nicholas
Piramal, Hindustan Lever, Estle. Colour Chem, and so on. Internationally,
the Company exports its products to about 65 countries spread across
continents, namely, Australia, Africa, Asia, Europe, Latin America, and
6. Strong Technicals and wide range of products: With the core promoters/
management including technocrats, the Company has been very strong on
technical side which is reflected in its ability to develop and manufacture
wide range of products in a cost effective manner by regularly evaluating
alternate processes, inputs, sources etc. Strong technical side has also
helped the Company to continuously update and upgrade its technology and
improvement in processes, increased yields and value additions as also to
foresee opportunities in new products and adjust to the dynamics of the
market. Wide range of products enables the Company to balance seasonal and
cyclical fluctuations in the market.
7. Bigger multi-locational flexible Plant Capacities: The Company has built
its plant capacities keeping in mind future opportunities. The Company is
way ahead of its competitors in terms of plant capacities which has helped
to cater to higher demand, increase its market share, economies in
production costs and maintain steady growth. Further, multi-locational
facilities and workforces dedicated to various products have flexibility of
being put to alternate use to meet the demand.
8. Export House Status : Time and again, the Company has achieved merits in
export performances which is marked by Certificates of Merits from
Chemexcil in the year 1989-90, 1991-92 and 2000-01. The Company has been
awarded Government Recognised Export House status from 1996.
9. Research & Development facility: The Company's Research & Development
facility at Plot Nos. N-198 and G-60, MIDC, Tarapur, Boisar, Tal. Palghar,
Dist. Thane, Maharashtra are approved by Department of Scientific &
Industrial Research (DSIR), Government of India which has constantly
strived to improve processes, product yields and new products.
10. Dedicated workforce : Last, but not the least, 675 strong dedicated
workforce has been the catalyst for the Company's achievements.
In the past, as a strategy for growth and consolidation, the Company has
always expanded its plant facilities by new project implementations,
acquisitions and amalgamations which were by and large financed from
internal cash accruals. Now with the built up of relatively stronger net
worth, the Company is in a position to consider and exploit bigger
opportunities by taking a bigger leap towards sustained growth.
With the liberalized economic environment and increasing globalisation, the
years ahead are expected to throw several challenges and opportunities pre-
and-post the introduction of the WTO Protocol in 2005. I am sure with the
strong inherent capabilities/resource base, dynamic management, dedicated
workforce and a vision to be India's leading manufacturer of bulk drugs and
high value Active Pharma Intermediates (APIs), the Company is poised to
unleash its true potentials to meet the challenges and exploit the growth
opportunities ahead in the best interest of our shareholders and
With your continued support and patronage, I am sure We will be able to
scale newer heights and milestones of success and prosperity in the years
Thank you and with best regards,