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Surya Pharmaceutical Ltd.

BSE: 532516 Sector: Health care
NSE: SURYAPHARM ISIN Code: INE249G01020
BSE LIVE 15:21 | 14 Sep Stock Is Not Traded.
NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 0.16
PREVIOUS CLOSE 0.17
VOLUME 234695
52-Week high 0.16
52-Week low 0.00
P/E 0.01
Mkt Cap.(Rs cr) 3
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.16
Sell Qty 749508.00
OPEN 0.16
CLOSE 0.17
VOLUME 234695
52-Week high 0.16
52-Week low 0.00
P/E 0.01
Mkt Cap.(Rs cr) 3
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.16
Sell Qty 749508.00

Surya Pharmaceutical Ltd. (SURYAPHARM) - Chairman Speech

Company chairman speech

SURYA PHARMACEUTICAL LILMITED ANNUAL REPORT 2011-2012 CHAIRMAN'S REPORT Dear Shareholders, Please accept my warm greetings. With the close of this year, we enter into the 21st year of SPL's eventful journey. It was on 25th March 1992, when we embarked on this pharmaceutical sojourn and I would like to take this opportunity to convey my heartfelt thanks for your utmost commitment, unstinted support and unshakable faith throughout. I would also like to reiterate that your role as a share- holder as a contributor in this growth trajectory has always been well appreciated and acknowledged. It is with your support only that we could grow from Rs.5 crs to Rs.1600 crs in a short span of 20 years with six state- of- the- art manufacturing units,Trading House Status from Govt of India, ranking in Fortune India 500, Business India 500 & Economic Times 500. I am also thankful for the trust reposed by you in the Group's potential through every thick and thin in all these years . Encouraged by this symbiotic relationship, I would like to share with you with heavy heart that presently we have got into severe cash flow turbulence due to combination of various internal & external factors like rupee depreciation, rising interest costs, customer payment defaults, dumping by China, cost overrun & delay in commercialisation in Jammu unit because of more stringent USFDA norms, inability to raise capital from Global Markets despite best efforts due to bad economic situation prevailant in the world etc.etc. forcing the company to approach its lenders for restructuring of its debt . The proposal has been referred to the CDR cell by State Bank of India and admitted in the same on 29th of March 2012. Without exaggeration, I assure you that we are trying our level best to put things back on track and I am sure that with your support we would spring back to normalcy within a short time. Despite it being a lean year, our future robust planning is based on the following: i) a continuous focus on knowledge up-gradation and technology absorption to improve the efficiency levels & meet tough global challenges. ii) improvement of the manufacturing infrastructure to stay in constant compliance of the current regulatory requirements. iii) increasing presence of our products in regulated markets and a greater attention to customer needs in all markets. Our learning and continuous quest for improvements makes us an eager learner organisation to respond to the unpredictability and vulnerability of market. We aspire to work towards adding new products into our basket including steriles and injectibles . In APIs and injectibles, we expect to launch our products into highly regulated markets of the US, Europe, Korea, Australia, South Africa & Japan. New benchmarks for entry into these markets will be achieved as per plans. This is in consonance with our zest for taking up challenges, aggressive marketing and tactical leadership. Our company has invested heavily in high-technology, high-quality assets and facilities to make them compliant to US FDA/MCA/TGA guidelines. Our incisive R&D capabilities provide us with the support we need in order to be the Innovation leader in the market. Innovation in the laboratory is translated into market success through a disciplined execution of strategy. We will continue to build on our strengths, investing in innovation to deliver right value today and tomorrow. We have also made it a point to increase our operating efficiency. By streamlining our business processes and improving our internal cost structure, we will operate more efficiently, and deliver greater value to both our customers and shareholders. As we set ourselves a target of achieving bigger milestones, we realize that it is our people - our biggest strength - that will get us there. Our employees are engines that drive the whole organization forward. We are committed to nurture and develop the great talent at Surya by providing the team greater satisfaction to achieve organizational and personal goals. We express gratitude to our Directors for their concerted efforts all through this journey. We also take the opportunity to thank our Customers, Vendors, Bankers and Shareholders for their unflinching support. We look forward to a prosperous year ahead and a pleasant and rewarding journey with all of you. Sd/- RAJIV GOYAL (Chairman & Managing Director)