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Saamya Biotech (India) Ltd.

BSE: 532905 Sector: Health care
NSE: N.A. ISIN Code: INE320H01019
BSE LIVE 14:30 | 17 Nov 1.94 0
(0.00%)
OPEN

1.85

HIGH

1.95

LOW

1.85

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 1.85
PREVIOUS CLOSE 1.94
VOLUME 25500
52-Week high 8.15
52-Week low 1.05
P/E
Mkt Cap.(Rs cr) 5
Buy Price 0.00
Buy Qty 0.00
Sell Price 2.03
Sell Qty 750.00
OPEN 1.85
CLOSE 1.94
VOLUME 25500
52-Week high 8.15
52-Week low 1.05
P/E
Mkt Cap.(Rs cr) 5
Buy Price 0.00
Buy Qty 0.00
Sell Price 2.03
Sell Qty 750.00

Saamya Biotech (India) Ltd. (SAAMYABIOTECH) - Chairman Speech

Company chairman speech

SAAMYA BIOTECH (INDIA) LIMITED ANNUAL REPORT 2010-2011 CHAIRMAN'S REPORT Dear Shareholders, In spite of global recession and economic slow-down your Company is striving relentlessly in implementing the project and at t;he same is also exploring new avenues for business expansion and for broad-basing the product line. These efforts would in due course of time bring in lasting and sustained benefits to all of us. While continuing the marketing of drug intermediates and raw materials through outsourcing as supplementary means of revenue generation, the Company is exploring new avenues and has recently established a subsidiary, Saamya Biotech FZE in Free Trade Zone, UAE to market API's and finished products. Your Company chose not to seek disbursement of the loan sanctioned by Indian Overseas Bank for biotech project in Hyderabad as the interest rate is very high and is not viable in the present global scenario and economic downslide on all fronts. Instead your company chose alternative funding through FCCB for implementation biotech project at Hyderabad. As soon as the FCCB funds are received the construction of manufacturing facilities will be completed. Regarding the efforts of your Company to raise to funds for implementing the biotech project in India and in Malaysia by way of equity funding to the tune of US $ 40 million by way of FCCB (Foreign Currency Convertible Bonds), I am pleased to inform that work is in brisk progress and the prospectus has been filed with Luxemburg Stock Exchange and expecting the approval shortly. Once we receive the approval the issue will be in place. Your company is progressing well oh the front of implementing the proposed biotech project in Malaysia through its subsidiary company, M/s. Saamya Biotech (Malaysia) Sdn. Bhd., at a cost of Rs. 136.23 crores. Your Company and the Government of Perak State in Malaysia are jointly making efforts to source the required funds for implementation of the project. All necessary approvals are in place and once the financial closure is completed the construction of manufacturing plant will commence. Your company will also be completing shortly the processes related to the acquisition of synthetic drug plant in Hyderabad at a cost of Rs. 15.45 crores for manufacturing value added products from the biopharmaceuticals produced from the biotech plant. The acquisition is delayed as the promoters of the project from whom we are taking over are yet to submit the documentation to our satisfaction. We hope to complete the acquisition at the earliest after exercising due diligence in the scrutiny of documents and other aspects to safeguard the interests of your Company. I am happy that your company continues to register progress in its path of achieving the objectives despite facing several impediments in the course. I am also happy to inform that your Company has posted a profit during this year. 1 take pleasure in rededicating my efforts along with my colleagues on the Board to take your company to hights of success and enable you to reap the fruits at the earliest. I wish to thank all our well wishers, stakeholders, collaborators, bankers and employees of the company for extending their full support and cooperation all through the year. Place: Hyderabad Date : 26th August 2011 Dr. Y. Sonia Reddy Chairman