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Par Drugs & Chemicals Ltd.

BSE: 535341 Sector: Health care
NSE: PAR ISIN Code: INE04LG01015
BSE 05:30 | 01 Jan Par Drugs & Chemicals Ltd
NSE 00:00 | 08 Dec 157.55 0.35
(0.22%)
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Par Drugs & Chemicals Ltd. (PAR) - Chairman Speech

Company chairman speech

Dear Shareholders

I am pleased to present to you the 22 Annual Report of your Company. Your Company ispoised for taking a leap forward and witnessing next level growth continuing itsphenomenal journey towards excellence in API and Fine Chemical Products delivery to thewell-known organization. Throughout our journey we have been exceeding expectations ofour buyer through consistency and quality of services. As we continue to grow it is ourstrategy to strengthen our organization presence in India and abroad our aim to continueexpanding our presence in newer geographies as well to develop new products as part of ourgrowth strategies.

Performance for the last financial year was in line with our expectation where wecould withstand the sharp increasing it with growth in terms of revenue and turnover.

Our strategy to de-risk the business through providing qualitative products proved tobe very useful.

Your Company is engaged in the development and manufacture of Active Pharma Ingredients("APIs") and Fine Chemicals for the domestic market as well as for exports tointernational markets. APIs also known as "bulk drugs" or "bulkactives" are the principal ingredient used in making finished dosages in the form ofcapsules tablets liquid or other forms of dosage with the addition of other APIs orinactive ingredients. We currently produce various range of Antacid Molecules which areavailable in the market and are in great demand. Moreover we expect the API business togrow at a good pace. For our Fine Chemicals Segment we are also increasing the share ofthe same in revenue and turnover.

While we have always known that each business stands uniquely apart in its thinkingobjectives and resources we believe the timing is opportune to run them independently.The year gone by is proof of our long-term approach to doing business whether from thepoint of view of strategy operations or sustainability. After considerable thought webelieve that reorganizing our businesses as explained earlier is the most efficient andsustainable way to move to the next level and stay true to Par Drugs' mission to enhancethe value of our customer's products by delivering best quality of raw materials andconsistently improve quality and production standards for the betterment of our customersand build a strong relationship with all our customers vendors and employees on thevalues of ethical and transparent working system. I would like to acknowledge the hardwork dedication of our talented employees for their passion and dedication with whichthey continue to contribute to the culture of excellence. We thank you all for yourcontinued support in our growth. Further I also thank you our investors for yourpatience for showing confidence and trust in management capabilities and guidance thusfar and look forward to your continued support.

Warm regards

Falgun V. Savani
Chariman & Managing Director

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