I am pleased to share with you company's performance for the financial year ended March31 2021 with this Annual Report.
I hope that all of you and your loved ones are healthy and doing well even in this andI also hope most of you may be vaccinated against Covid-19 by now.
World economy is in the phase of recovery from the setback due to Covid-19 many of ushave lost our loved ones in this pandemic our nation also loss many great personalitiesgrief of which may not be expressed in words but we have to stay strong.
Coming onto Lasa we are fully backward integrated in key moleculesfrom discoveryresearch up to full-scale bulk production so that to efficiently control the supply chain.
Recently we have announced launch of 2 new block buster products with all-time strongsegment one from which was also launched namely Oxycozanide.
Oxycozanide is an anthelmintic it has got huge demand all over globe as you may knowwe choose products which is difficult to be manufactured and have strong entry barrierslikewise this product fits in our product selection criteria and we are confident enoughof grabbing significant market share.
In the month of July 2021 heavy rains started pounding in the western indian state ofMaharashtra in which Ratnagiri and Raigad the coastal districts in the state's Konkanregion were the worst hit there were number of deaths in floods and landslides.
Due to this unfortunate natural calamity the rains led to water logging and inflow ofwater in our factory premises situated in Chiplun and Mahad. The Floods then led tomixture of chemicals which were basic Raw Materials and resulted into Fire in one of ourUnit situated in Mahad. Due to the disruption that caused in our unit situated in Mahad wehave prolonged commercialisation of Oxycozanide and Launch of another block busterproduct.
The operations in our all units including that situated in Mahad restored withsubstantial capacity with the efforts of our entire team who worked tirelessly to make itpossible within few days of incident.
We continue to remain the trusted brand with high quality products accepted by largecompanies across the globe. Our Company is the pioneer and amongst the leading players inthe manufacturing of APIs with a well-established brand known for its high-qualityproducts amongst various customers.
On Financials front as well we have drastically improved as committed:
I am pleased to say that we have delivered a decent set of numbers in FY21 led byrobust consistency top line and bottom line YoY and also worked out recommendation ofdividend which we aim to continue for all coming years with improved rates this year itwas just gesture considering cash flows due to recent debt repayments.
As per our commitment Revenue from operations grew at a pace of 21% YoY to reach '202.37 crore in FY21.
The growth in top-line was led by the strong traction in the company's key veterinaryAPIs and our key marketing efforts in this competitive market scenario.
Direct exports contribute approximately 17% to our total revenue and grew by 32% YoY to' 34 crores in FY21.
EBIDTA stood at ' 47.28 crores with a growth of nearly 57% YoY EBIDTA margins stood at23.36%.
Our PAT for FY21 Stood at ' 22.80 Crores i.e around 11.30% which is phenomenal growthof nearly 530% if compared to same period last fiscal.
Strongest bottom line performance in FY21 was backed by our aim of (ZERO) Finance costand yield of higher EBIDTA.
After achieving NIL Finance cost our priority continues in focusing our cash flows andmore improvement in Return on Capital.
Our working capital cycle continues to improve and we consider it as best amongst ourpeers which enable us to generate healthy cash flow.
In fact during FY21 cash flow generated from operations were more than three times onYoY basis to ' 41 crores. We continue to be in state of evolution through a strong drivefor improvement while remaining focused on quality compliance talent development andeffective risk management.
I place my sincere gratitude towards our Shareholders Investors Employees CustomersSuppliers Bankers Regulators and all business associates and thank you all for havingyour confidence in LASA Family.
Dr. Omkar Herlekar