It gives me great pleasure to report that the financial year 2018-19 has beenchallenging yet satisfying year for the company. This encouraging performance has beensupported by our commitment to quality adherence to compliance manufacturing excellencestrong research & development team dedication to provide affordable medicines topublic and trust of all the stakeholders.
In the financial year 2018-19 the Company has achieved total revenue of around Rs. 350crores over Rs. 300 crores in the previous year and net profit of Rs. 21.94 Crores overRs.16.47 crores in the previous year respectively. The EBITDA growth of the company hasincreased by 20.44% in comparison with the previous year. We have grown consistently bothin terms of revenue as well as profits. The growth of the company was mainly attributed tothe performance of Criticare and Criticare Life and Infertility division.
During the year under review your Company launched 10 new products and made continuousefforts for improvising the existing products. R& D has around 23 active projects inthe pipeline out of which 3 have been applied for approval to the FDA in India. 3 clinicaltrials have been initiated in India in the field of Arthritis Influenza and resistantbacterial infections.
Your company's drive in the domestic business has started paying off as it has enteredthe Top 100 company ranking (source IQVMI) for the MAT sales as per June 2019 by reachinga position of 98 . Also the standalone rank for the month of June 2019 is 88. ORG IMS alsorecords the company's domestic growth of approximately 33%.
Your Company covers more than one Lakh doctors and has established its foothold in allmajor hospital chains in India. Your Company's products are prescribed by around 30000doctors across the country. Your company covers approximately 2 Lakh retail counters whichcaters to the patients across India.
Your company's Active Pharmaceutical Ingredient (API) business has seen good growth.The API revenue for the year under review grew by 15.16% as compared to the previousfinancial year. Your company also plans to increase the pipeline of API product offeringby at least 6 more products in FY2020 which will drive the API business further and alsoutilize increased capacities. Your Company's annual API manufacturing capacity has beenincreased by 36 tons which will contribute in revenue growth in the future.
Keeping in mind the shortage and dependency of the API situation in China due to shutdown in factories due to pollution and other factors company has started its R& Dwork on backward integration especially for core APIs which cover 60% of our import fromChina.
Your Company is an indigenous manufacturing company to launch Botulinum Neurotoxin inIndiawith a robust and inherent world class infrastructure in collaboration with USA basedCompany Prime Bio Inc. led by Dr. Bal Ram Singh who is also a Non Executive Director ofthe Company. The Company has received all the regulatory approvals to manufacture andmarket Botulinum Neurotoxin in India and is planning to launch in FY2020. The Company isalso in the process of seeking approval for new drug delivery systems for the BotulinumNeurotoxin for first time users which do not prefer the injectable route.
Your company is in talks with several international companies for in-licensinginnovative concepts in various therapy areas such as Dermatology Diabetes nutritionalinfertility and anti-infectives.
We remain focused on improving quality across all aspects of our operations withinitiatives for continuous improvement reducing manual interventions through digitizationand automated equipment's. We intend to continue this journey and meet the highestregulatory standards for our manufacturing facilities and new product development.
Your company is in the process of expansion in new lyophilized equipment's which wouldfurther drive our business from FY2020.
Your Company is awaiting sanction of Scheme of Amalgamation of Gufic LifesciencesPrivate Limited (GLPL) with the Company by the requisite regulatory authorities. Themanufacturing unit of GLPL is EU-GMP certified and this Scheme on becoming effective wouldprovide larger asset base to the Company and enable further growth and development of theCompany primarily in terms of Exports.
Given your company's significantly improved performance in the financial year 2018-19the success in improving operational efficiencies and our determination to drive growthwe are reasonably optimistic of the future prospects. In the year ahead we are confidentof growing with more improved performance through new product launches in multiple marketsand existing productivity enhancement. We aim to provide enhanced value in the hands ofall our stakeholders.
Our thanks to the management team and all our employees for coming together to deliverbetter results. And many thanks to you for your support.
For Gufic Biosciences Limited
Jayesh P. Choksi
Chairman & Managing Director