Managing Director's Review
Dear Shareholder's Road-To-Recovery
The past is behind us and the future is unknown ! We are living in the practicalpresent. Parabolic presently is all about realigning recovering and rethinking to resolveour current challenges. With the close of this year we enter into the 22nd year of PDL'seventful journey. It was on 22nd February 1996 when we embarked on this pharmaceuticalsojourn and I would like to take this opportunity to convey my heartfelt thanks for yourutmost commitment unstinted support and unshakable faith throughout. This calendar yearin many ways would be the defining moment for the Company as it continues the journeytowards a sustainable growth. I would also like to reiterate that your role as ashare holder as a contributor in this growth trajectory has always been wellappreciated and acknowledged. It is with your support only that the Company is able tocross the hurdles at all levels. "As we embark on a new journey and set new goalslet us focus not just on routine matters but also transform all areas and ideas that focusnot just on creating waves but also creating values for our society. Not just on immediategains but also long term benefits not just implementing best practices but also shapingpartnerships and not just on building a bright future for our people but in being a bridgeto a more united and prosperous world. For the success of this journey it is important toview this with new eyes and new sensitivity. The constraints of the past are behind us andthe foundations of the future are in place"
These lines taken from a historic speech of our Honorable Prime Minister given to USCongress at Capitol Hill is perhaps most apt to describe Parabolic's present situation andthe way forward. Team Parabolic has shown relentless effort and grit as we embark ourrecovery journey. I am also thankful for the trust reposed by you in the Group's potentialthrough every thick and thin in all these years. Encouraged by this symbioticrelationship I would like to share with you with heavy heart that 2016-17 has not been aneasy year as well your Company experienced spurt in financial stress due to untamedeconomic variables that continued to affect the business proficiency and all performanceparameters badly shaken. During the Financial Year 2016-17 registered a topline/superlative of INR 774 Million while incurring a loss of INR 1081 Million. Withoutexaggeration I assure you that we are trying our level best to put things back on trackand I am sure that with your support we would spring back to normalcy within a short time.We are committed towards implementing the best accounting practices and also set thehighest compliance system adhering to governance standards by being vigilant. From thisFinancial Year we are working on transition from I-GAAP to IND-AS which will bring theaccounting at par with the international standards with utmost transparency and will alsoact as an impetus for adherence to systems and processes leading to productivity andgrowth. Our learning and continuous quest for improvements makes us an eager learnerorganization to respond to the unpredictability and vulnerability of market. We willcontinue to build on our strengths investing in innovation to deliver right value todayand tomorrow. We have also made it a point to increase our operating efficiency. Bystreamlining our business processes and improving our internal cost structure we willoperate more efficiently and deliver greater value to both our customers and shareholdersAs we set ourselves a target of achieving bigger milestones we realize that it is ourpeople our biggest strength that will get us there. Our employees areengines that drive the whole organization forward. We are committed to nurture and developthe great talent at Parabolic by providing the team greater satisfaction to achieveorganizational and personal goals. "The road to recovery will not always be easy butI will take it one day at a time focusing on the moments I've dreamed about for solong" - Amanda Lindhout. With this quote I conclude by thanking you all we expressgratitude to our Directors for their concerted efforts all through this journey. We alsotake the opportunity to thank our Customers Vendors Bankers and Shareholders for theirunflinching support. We look forward to a prosperous year ahead and a pleasant andrewarding journey with all of you.