2015 marks a major milestone in our journey towards helping people live longerhealthier and happier. After a decade of pursuing excellence since inception in 2005 weare entering an era in which we have to aspire for the next orbit.
"Our vision has led us to follow an unconventional path that we believe offerssustainable revenues and a competitive advantage which we will continue to grow."
There will be temporary roadblocks and headwinds but I am optimistic about thelong-term potential for our business. Over the years we have built a certain scale andcapabilities; a robust product pipeline across markets; and sound systems and processes.We are now poised for greater heights.
YEAR IN RETROSPECT
In 2015-16 we achieved Rs.17808 million of standalone net turnover compared to13263 million in 2014-15. Besides we reported Rs.3866 EBIDTA and Rs.1416 million netprofit showing a growth of 61% and 92% respectively. Over the past few years we havetaken significant strides in emerging as a global pharmaceutical player consistentlyregistering growth across key performance metrics and financial competitiveness.
I am pleased to announce that the Board has recommended a dividend of Rs.2 per shareon the eve of completion of 10 years journey of the Company.
Each of our core business segments Generics API FDF Ingredients and Synthesisdelivered strong performances in 2015-16. By strengthening our regulatory capabilities andinvesting in R&D and product innovation we have expanded our product portfolio anddeveloped our pipeline.
THE NEXT ALTITUDE
Leveraging on its large manufacturing infrastructure for APIs we extended from themanufacture of APIs to formulations business. We recognise the importance of our client'srequirements to develop robust and compliant formulations.
Laurus is one of the world's leading suppliers of anti-retroviral APIs andintermediates; and we believe our low-cost technologies in this critical segment will helpincrease access to medicine for people in need throughout the world.
During the year we partnered with a leading Company to develop Hepatitis C Franchise.Each of these steps is likely to improve the business mix enhance revenues and addtraction to the Company's momentum.
These expansions validate our cohesive model and facilitate greater value addition toglobal pharmaceutical companies. The on-going expansion and enhancement of themanufacturing capabilities reflects commitment to pursuing a strategic advantage throughthese capabilities.
We believe in supporting on-going research in planned and pre-defined segments in areaswhere we know we have leading core competence.
Laurus Labs is uniquely positioned in the pharmaceutical landscape. Our vision has ledus to follow an unconventional path that we believe offers sustainable revenues; and acompetitive advantage which we will continue to grow.
Implementing concepts such as continuous process manufacturing' provide us withsignificant opportunity; and will enable us to lead the industry by a long shot.
Our persistent focus on process innovation and manufacturing adeptness has resulted ina sustainable competitive advantage. It has enabled us to become a market leader for ourproducts and deliver value that others cannot match.
QUALITY FOR EVERYONE
In all facets of business we have concentrated on retaining the highest standards ofquality to ensure that our products deliver the maximum potential benefits to patients.This feature has di3erentiated us from our competitors which has resulted in strongproduct demand.
Our commitment to quality has truly been the cornerstone of our success. Qualitysafety and compliance are deeply embedded in our culture; and these are all parts of apatient-centric business model.
We believe in One Quality Standard' for all patients worldwide; and have globallyapproved facilities to manufacture drugs for all markets.
Ever since inception we have always strengthened our innovative core tointroduce newconcepts rather than competing aggressively in a hyper-competitive market. In otherwords we believe in creating markets rather than being a me-too' player. And thisstrategy generates significant value and brand recall in the long term.
Over the last few years Laurus Labs has created an extensive intellectual asset baseand a powerful research and development division. Our principal asset is our intellectualcapital which creates and sustains our brand leadership in the markets of our presence.
We expect several ANDAs and DMFs to be filed in the next year which will strengthenour standing in the market place. In addition our R&D team continues to work onmethods that will gain greater efficiencies with our integrated approach as well asworking with customers to ensure that we meet their requirements.
Our Boardroom strategies are translated into viable business realities by our team.Therefore we are only as good as our people. We have always invested intraining andeducation of our employees to manage technology and complex business systems. Humanresource development is a consistent endeavour; and we will continue to upgrade thecapabilities of our people to reach the next altitude of growth.
Our emphasis will continue to be on e3ciency and innovation going forward. Laurus Labsis transforming at an unprecedented pace; and the scope and scale of the business ispushing us to the next frontier. In this journey towards greater value creation I seekthe cooperation and support of our customers investors employees business partners andthe wider community of stakeholders.
Dr. C Satyanarayana
Chief Executive Officer