Ankur Drugs & Pharma Ltd.
BSE: 531683 |
Sector: Health care |
NSE: ANKURDRUGS |
ISIN Code: INE238D01012 |
BSE
05:30 | 01 Jan
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Ankur Drugs & Pharma Ltd
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NSE
05:30 | 01 Jan
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Ankur Drugs & Pharma Ltd
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Ankur Drugs & Pharma Ltd. (ANKURDRUGS) - Chairman Speech
Company chairman speech
ANKUR DRUGS AND PHARMA LIMITED
ANNUAL REPORT 2010-2011
CHAIRMAN'S REPORT
Dear Shareowners,
'The joy of visualizing a bright future is not without challenges'
The year gone by was indeed full of challenges. Challenges from all sides
in a heap, Challenge to complete the expansion project within the
regulatory time deadline; challenge to fund the project; challenge of
execution ; challenge of co-ordinating several/various activities for
survival, streamlining and growth. Your Company had to restrategise its
planned activities in tune with demands of time, money, efforts and
manpower to complete and start the project to avail the various tax
benefits available at Baddi. And I have great satisfaction to state that
indeed we have met the deadline. We have consciously taken a big hit on the
profits by way of increased depreciation and interest outflow. In view of
the above circumstances the board has not been able to declare dividends.
The entire gamut of exercise was undertaken because we visualize a bright
future for the company. Short term aberrations do not deter the ambitious.
We take it as a challenge to overcome them and become victorious. We are on
our path towards it and once again very bright future lies ahead of us.
Our future focus is to scale up our activites taking advantage of the
knowledge, the experience, dedicated manpower and infrastructure that we
have built and established. The management strongly believes that 'BEING
COMMITTED, NOTHING IS DIFFICULT'.
The newly set up production facilities at Baddi have been validated by
major leading international pharma companies. The Company has large numbers
of orders in hand, which is lined up to be executed during the year.
The CDR EG has approved the restructuring package of the Company and
constraints of working capital have been addressed to a large extent to
regain growth momentum.
Ankur today is one of the leading company in the area of Contract
Manufacturing of pharmaceutical formulations of various dosage forms to
leading national and multinational pharma companies.
For the current year 2011-12, the monsoon is better in major parts of
India, but the monstrous rising inflation is expected to cast a dark cloud
on the horizon of growth.
Before I conclude, let me assure you of our commitment to create value for
our stakeholders. I take this opportunity to thank the board for their
constant guidance and support and Ankur employees for their commitment and
contribution. We value the confidence that you have reposed in Ankur and
sincerely look forward to your continued support and encouragement.
Warm regards,
Purnandu Jain
Chairman and Managing Director
Saturday, September 03, 2011.
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