I am delighted to share with you that our strategy to put energy where it matters forincreased focus and efficiency to accelerate growth has borne fruitful results. I am veryhappy to share with all of you that your Company has been recognized as the "IndianMedical Devices Company of the Year 2018" by Department of Pharmaceuticals Ministryof Chemicals and Fertilizers Government of India on 18th February 2019. Thisrecognition is a reflection of our commitment to bring high-quality affordable medicaltechnologies to solve the pressing healthcare needs of the Country.
This award was handed over by Union Minister Shri DV Sadananda Gowda Department ofPharmaceuticals Ministry of Chemicals and Fertilizers Government of India. Department ofPharmaceuticals is the nodal body for promotion of medical devices in the Country.
I am happy to share that your Company has achieved net sales of ' 610.83 Crores asagainst the net sales of ' 521.68 Crores in the previous financial year which hasregistered a growth of 17.08% from last financial year to current financial year. EBITDAhas increased to ' 149.12 Crores as from ' 135.96 Crores in the preceding year. During thesame period we have achieved profit after tax of ' 65.40 crore.
Your Company has also received "top exporter award" by The Plastics ExportPromotion Council Dept of Commerce Govt. of India "Star Performer Award" byEEPC India regional award (Northern) for Export Excellence "Dare to DreamAward" by ZEE Business in the category of emerging Company of the year and"Export Excellence Award" by FIA (Faridabad Industries Association) Haryana forthe year 2018-19.
Ayushman Bharat - PMJAY launched on 23rd September 2018 is the future ofIndia's healthcare ecosystem. The largest public funded scheme in the world is undoubtedlya gigantic scheme with a very big vision and we are all hopeful of many positive outcomes.
The "Ayushman Bharat" is a path-breaking initiative of the Government ofIndia and is expected to impact positively across all levels of care. It has opened upmultiple avenues for growth of Medical Devices Industry. Some of the key highlights are:
Increased demand for medical devices
Increased collaboration opportunities with the government specially in thesectors of primary care and diagnostics
Increased collaboration opportunities with private healthcare providers
Boost medical devices manufacturing in India
The CSR policy of the Company is based on the core belief of compliance of socialresponsibilities. Corporate Social Responsibility is basically a continuous ongoingprocess whereby the Company contributes to the betterment of Society and a cleaner andgreener environment. The Company contributes in following area as a part of its CSRActivities:
On food relief Activities
On Promotion of Education through distribution of books and stationery andbuilding toilets in schools for girls.
On Social Welfare and welfare for disabled persons
On promotion of Healthcare through Project "Baala" an initiative forfemale Health & Hygiene.
On Animal Protection projects
Our portfolio of Vascular Access & Infusion Medical Devices has been furtherstrengthened through the acquisition of Planl Health s.r.l. an Italy based manufacturingCompany. By this acquisition the Company is also being able to offer a complete range ofVascular Access Devices in Oncology space (cancer care treatment).
Some of the key products are:
Short PIVC's (Peripheral IV Cannula)
Mini MID Lines
CVC (Central Venous Catheters)
PICC (Peripherally Inserted Central Venous Catheters)
Polymed continues to forge ahead with a relentless drive that was set into motion overtwo decades ago. With the vision of our founders the support of our partnersstakeholders and customers and the strength of our institution and our people wecontinue to move beyond horizons and beyond the conventional.
In conclusion in 2018-19 POLYMED raised the bar on performance on all fronts. Oursuccess without doubt is owed to the committed management employees and the unrelentingsupport of our partners. I would like to acknowledge the team and hope they will continueto excel undeterred in their endeavors.
It is equally important to acknowledge the resolute faith and support of our Board ofDirectors shareholders dealers suppliers financial institutions and everyone else whohas been with us on this journey. I would like to extend my deepest gratitude to them andhope to see our Company grow an even stronger bond with all our stakeholders.
|D. R. Mehta ||New Delhi |
|Chairman ||12th August 2019 |