It gives me immense pleasure to share that your Company Gufic has crossed the lastyear's record and achieved total revenue of about Rs. 250.00 crores and this was possibledue to the proper planning implementing of strategies at right time employees' effortsand your tremendous support and trust on us.
Your belief in the Company motivates us to outperform the targets year over year andbring the best in the Company.
This year was challenging for the pharma industry including us due to increase incompetition changes in Government regulations and geopolitical uncertainties. In thischallenging business environment your Company managed to deliver resilient performanceduring the financial year 2016-17. Revenue has crossed an all-time high of Rs. 250 crores.The total revenue increased by 23.35 % and PAT by 55.83 % as compared to previous yearmainly as a result of effective launching of more than 34 new health care products andlaunch of two new divisions viz. CRITICARE LIFE and FERTICARE.
Your Company has invested towards enhancement and development of the Research &Development in last many years which focuses towards development of new formulations andlife-saving drugs and improvising and updating the process used for existing products. Asa result the Company in the financial year 2016-17 was granted with two process patentsfrom the Intellectual Property India The Patent Office India for innovation of newformulations viz. Tigecycline and Anidulafungin. The Company is in the process of filingpatents for these formulations in countries such as Russia Europe and South Africa. TheCompany has applied for 4 more patents in this financial year and awaiting review form theIPR office. Apart from Patents Gufic also uses its innovative R and D to improveefficiency quality and purity whereby making healthcare affordable by launching moleculesat a fraction of current market prices and hence increasing access to medicine.
To widen its reach and meet the heath care needs of the people throughout the worldGufic continues to enter into licensing agreements with both Indian and internationalcompanies. Gufic continue to provide life-saving drugs without compromising the quality ofthe product at affordable price both in India and international market
Gufic believes in team building and team spirit and hence continue to nurture andupskill the human capital to prepare for the next level of growth and success. We areproviding such a work culture for our employees which brings the best in them and thatresults in the growth of the Company.
Gufic believes in the concept of Plan and Act and following the same nodecision is made and no step is taken without proper planning and implementation. Thegrowth of the Company is based on the accurate decision of the Management and properimplementation by the employees. The whole process is a group task and your Company isfortunate to yield better results year after year.
I would like to take this opportunity to thank each and every employee as well as thosewho work with us across the value chain for their unstinting support and hard work in theservice of our Company. I would also like to thank you our shareholders for yourcontinued trust in the business.
Last but not the least I would like to state that I am excited about the future of theCompany as there are many areas still to cover many hearts still to touch and many livesstill to save.
For Gulic Biosciences Limited
Jayesh P. Choksi
Chairman & Managing Director