You are here » Home » Companies » Company Overview » Bafna Pharmaceuticals Ltd

Bafna Pharmaceuticals Ltd.

BSE: 532989 Sector: Health care
NSE: BAFNAPHARM ISIN Code: INE878I01014
BSE LIVE 15:40 | 09 Dec 30.55 0.05
(0.16%)
OPEN

30.90

HIGH

31.00

LOW

30.15

NSE LIVE 15:31 | 09 Dec 30.50 0.15
(0.49%)
OPEN

30.20

HIGH

31.20

LOW

30.10

OPEN 30.90
PREVIOUS CLOSE 30.50
VOLUME 4692
52-Week high 52.40
52-Week low 25.50
P/E
Mkt Cap.(Rs cr) 57.01
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 30.90
CLOSE 30.50
VOLUME 4692
52-Week high 52.40
52-Week low 25.50
P/E
Mkt Cap.(Rs cr) 57.01
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Bafna Pharmaceuticals Ltd. (BAFNAPHARM) - Chairman Speech

Company chairman speech

Key Message from CMD

Dear shareholders

I once again welcome you all for the 20th Annual General Meeting of theCompany. I take immense pleasure to inform you that we have successfully completedthe MHRA renewal audit during the year for the 4th successive Term. We couldachieve this because of the standards maintained in your company and the quality of peopleon Board.

I am pleased to share with you that your company has Joint Ventured with M/s. StridesHealth Care Private Limited a subsidiary of M/s. STRIDES ARCO LABS Bangalore on accountof transfer of Domestic Branded business Where BAFNA Holds 26% and Strides Holds 74%. Thetransfer of domestic branded business was initiated for settlement of debts and reductionof bank borrowings. Your Directors have made a conscious decision for Transfer of DomesticBranded business purely for welfare of the Company in the long run. Strides Arco labsBangalore being good value creator with Global presence. I am sure Strides marketing teamRaricap Brand will become Global Brand. This will benefit your company in the long run andwill unlock value for your company which holds 26% equity in the joint venture. TheGrantlyon facility had to be upgraded to meet the current EU GMP norms for MHRA Audit andhence the facility had to be shut down for 4 months without Production. Your company hassuccessfully cleared MHRA UK audit in February . Due to the transfer of Domestic Brandedbusiness and 4 months shutdown of the facility for up gradation has affected the cash flowcycle hence sales was lower than compared to the previous year. The company filed manydossiers in various countries and the approval for the products is expected in the ensuingyear. I am confident that these would increase the revenues in exports.

Market expansion through launch of Products in `emerging markets

• During FY 15 the company got registrations for 38 products as follows: (i) 13 inSri Lanka (ii) 14 in Nepal (iii) 2 in Nigeria (iv) 1 in Philippines (v) 1 in Ghana (vi) 7in Ukraine.

• As on date we have more than 129 Product registrations and 156 Productapplications across globe.

Value growth factors

• Focus on increasing revenue from contract manufacturing in Regulated markets.

• Increase volume from existing emerging markets & further increase revenue byintroducing new products. ? Expand to new geographies. ? Focus on FR&D for launchingnew products. ? Focus on export in Africa UK and CIS Countries. We continue to focus ongrowing revenues improving margins and thus enhancing market value of the company. Wewill continue launching Products across the geographies

I take this opportunity to sincerely thank the Board for their invaluable guidance& support during this process. I congratulate & thank the entire Bafna Pharma Teamfor their undaunted commitment incredible dedication and value contribution. I thank allshare holders and other partners in the business for the continuous faith on us andsupport you have extended to us till date.

Warm Regards

Bafna Mahaveer Chand

(DIN: 01458211)

Chairman & Managing Director

Upgrade To Premium Services

Welcome User

Business Standard is happy to inform you of the launch of "Business Standard Premium Services"

As a premium subscriber you get an across device unfettered access to a range of services which include:

  • Access Exclusive content - articles, features & opinion pieces
  • Weekly Industry/Genre specific newsletters - Choose multiple industries/genres
  • Access to 17 plus years of content archives
  • Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box
  • End of day news alerts on 5 companies (via email)
  • NEW: Get seamless access to WSJ.com at a great price. No additional sign-up required.
 

Premium Services

In Partnership with

 

Dear Guest,

 

Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard