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Ind-Swift Ltd.

BSE: 524652 Sector: Health care
NSE: INDSWFTLTD ISIN Code: INE788B01028
BSE 00:00 | 08 Dec 12.07 -0.29
(-2.35%)
OPEN

12.41

HIGH

12.47

LOW

11.88

NSE 00:00 | 08 Dec 11.95 -0.40
(-3.24%)
OPEN

12.75

HIGH

12.75

LOW

11.85

OPEN 12.41
PREVIOUS CLOSE 12.36
VOLUME 23473
52-Week high 16.76
52-Week low 3.40
P/E
Mkt Cap.(Rs cr) 65
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 12.41
CLOSE 12.36
VOLUME 23473
52-Week high 16.76
52-Week low 3.40
P/E
Mkt Cap.(Rs cr) 65
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Ind-Swift Ltd. (INDSWFTLTD) - Chairman Speech

Company chairman speech

Dear Shareholders

The financial year 2020-21 has seen the emergence of a health crisiscaused by the Covid-19 pandemic and has been immensely challenging for everyone. The lossof lives and livelihoods has left a lasting pain which is sure to leave an indelible markon us. My heart goes out to everyone out there who has suffered the loss of their lovedone.

In responding to these challenges your Company was guided by its coreprinciples and was focused its purpose of maintaining sustainable operations. Being thepart of pharmaceutical industry we are contributing to fight the pandemic since itsoutbreak and we continued to do our part in helping the community.

Market Size

Presently the Indian pharmaceutical industry globally ranks third interms of volume and thirteenth in terms of value with market size of around US$ 45Billion. "The reason for higher rank in terms of volume while lower rank in terms ofvalue is primarily attributed to the predominance of Indian Pharma market in the genericsegment. The industry has exhibited compound annual growth rate (CAGR) of about 7.2%during FY17-FY21 and registered a growth of about 12% during FY21. The Indian domesticPharma market which was at about US$18 Billion during FY17 has exhibited a CAGR of about4.5% to reach US$21 Billion during FY21.

The Pharma exports which contributed about $17 billion during FY17 havereported a CAGR of about 10% to reach $24 billion during FY21. Especially during FY21 onaccount of increase in the demand for Covid-19 related drugs the exports have grown by18%. Thus on account of better export growth rate the contribution of domestic toexports has changed from 52:48 during FY17 to 47:53 during FY21. Further with betterprospects in regulated and semiregulated markets it is expected that the contribution ofdomestic to exports would widen to 45:55 by FY23.

Government Initiatives

The Central Governments has taken various initiatives to promote thepharmaceutical sector in India which includes announcement by Ms. Nirmala Sitharaman of anadditional outlay of Rs. 197000/- Crore (US $26578.3 million) that will be utilised overfive years for the pharmaceutical PLI scheme in 13 key sectors such as ActivePharmaceutical Ingredients drug intermediaries and key starting materials. Further toachieve self-reliance and minimise import dependency in the country's essential bulkdrugs the Department of Pharmaceuticals initiated a PLI scheme to promote domesticmanufacturing by setting up greenfield plants with minimum domestic value addition in fourseparate 'Target Segments' with a cumulative outlay of Rs. 6940 Crore (US$ 951.27million) from FY21 to FY30. Under Atmanirbhar Bharat 3.0 Mission COVID Suraksha wasannounced by the Government of India to accelerate development and production ofindigenous COVID vaccines. To augment the capacity of indigenous production of Covaxinunder the mission the Department of Biotechnology Government of India providedfinancial support in the form of a grant to vaccine manufacturing facilities. In April2021 the Union Government decided to streamline and fast-track the regulatory system forCOVID-19 vaccines that have been approved for restricted use by the US FDA EMA UK MHRAPMDA Japan or those listed in the WHO Emergency Use Listing (EUL). All the initiativestaken by the Central Government are worth praising and have given boost to the Pharmasector of India along with Indian Economy.

Our Performance

As for the whole world and Industry the financial year 202021 was achallenging year for your Company as well. During financial year 2020-21 your companyearned total revenue of Rs. 365.33 Crores against Rs. 345.40 Crores during financial year2019-20. The Company incurred net loss of Rs. 29.49 Crores during 2020-21 against lossesof Rs. 16.66 Crores in 2019-20. During the year your Company earned an EBIDTA of Rs.55.53 Crores as compared to Rs. 36.98 Crores in the previous financial year. The exportturnover of the Company in Financial Year 2020-21 was Rs. 264.27 Crores as compared to Rs.228.95 Crores in the previous financial year. The Company has settled dues with Bank ofIndia as the bank has assigned the debt to M/s Edelweiss Assets Reconstruction Company(India) Limited. I would like to re-affirm that in the coming years the management focuswill be on making the Company debt free by retiring/takeover of all the existing debts toreduce the financial burden from the Company. The Company would also strengthen itsproduct mix to focus on the niche products which will increase the marketing presence andwill have positive impact on the working of the Company with presence across India andInternational market.

Road Ahead

Medicine spending in India is projected to grow 9-12% over the nextfive years leading India to become one of the top 10 countries in terms of medicinespending. Going forward better growth in domestic sales would also depend on the abilityof companies to align their product portfolio towards chronic therapies for diseases suchas such as cardiovascular anti-diabetes anti-depressants and anti-cancers which are onthe rise.

The Indian Government has taken many steps to reduce costs and bringdown healthcare expenses. Speedy introduction of generic drugs into the market hasremained in focus and is expected to benefit the Indian pharmaceutical companies. Inaddition the thrust on rural health programmes lifesaving drugs and preventive vaccinesalso augurs well for the pharmaceutical companies.

Finally I would like to deeply thank all our stakeholders includinginvestors associates vendors customers and employees who have been with us for pastmany years and have supported our growth journey.

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