Our new manufacturing facility in Dahej Gujarat is at an advanced stage of completionand we expect to commercialise operations by December 2019. The APIs manufactured in thisfacility will be targeted to the highly regulated markets of the EU and the US.
I am pleased to report another year of positive performance underpinned by ourcommitment to quality products innovative chemistry and relentless execution ofstrategies. As one of the fastest-growing bulk chemical manufacturer we emphasize onachieving excellence with a well-articulated growth strategies.
Given below is a brief synopsis of our financial performance in 2018-19:
Revenue grew 9.89% from Rs. 4362.79 lakhs to Rs. 4794.50 lakhs
Operating profit strengthened by 31.98% from Rs. 801.54 lakhs to Rs. 1057.91 lakhs
Net profit increased 73.60% from Rs. 513.44 lakhs to Rs. 891.38 lakhs
Our new manufacturing facility in Dahej Gujarat is at an advanced stage of completionand we expect to commercialize operations by December 2019. The APIs manufactured inthis facility will be targeted to the highly regulated markets of the EU and the US. Weaim to be the dependable API source for such highly regulated markets. Technology transferfor eight products is ready with us. We shall be focusing on developing APIs for theoncology segment to leverage our forward integration advantage with Medicamen BiotechLimited.
During the year Mr. Suresh Kumar Singh was elevated as Vice Chairman of theCompany considering his vast knowledge and past experience.
We onboarded Dr. Vimal Kumar Shrawat as the new Managing Director of the Company. Hebrings along with him a vast experience in the field of pharmaceutical APIs especiallyin oncology.
As we look forward we are focused on making the critical strategic choice that willfurther strengthen our foundation of chemistry-led growth.
Further I would like to express my gratitude towards our stakeholders vendors andemployees for their constant support and building the organisation more stronger and moreprofitable.