"My warm greetings to all
I am presenting to all the Stakeholders the 15th Annual Report of the Syncom HealthcareLimited ("Company") for the financial year 2016-17.
This year has been very challenging for the Company due end of excise benefits availedthat has immensely and adversely impacted the production potential of the Company andconsequently eroded the competitive advantage. You would be pleased to learn that despitesuch hurdles and challenges faced the company could sail over the rough weather and havebeen successful in maintaining its production level and could sustain in the market.
Apart from the challenges Indian Pharmaceutical industry as a whole is plagued by drug& price regulations complex multistage taxation and location based incentivesprovided by certain states which have resulted in bringing inefficiency and unduecomplexity in supply chains in India. However the Company is hopeful that the followinginitiative by the government will provide the silver lining and definitely help company toraise its own bar much notches higher :-
Firstly apart from may structural changes the roll out of GST will bring insignificant advantages like simplification of the operations better efficiencies enablingyour company to serve customers better and ease of taxation process.
Secondly the Company is looking forward positively to the Jan Aushadhiinitiative by the government which aims at providing quality medicines at the affordableprices which would help company to boost its sale of generic medicines.
Not only the company is growing in the domestic markets but also expanding andcreating its space in the global market. Apart from South East Asian countries theCompany is planning to capture Latin America market. Compared to the last year the numberof registration of the products of the Company in their respective markets has increasedconsiderably.
At last I thank our dedicated and motivated employees customers and stakeholders fortheir invaluable support.
We look forward to the coming years with the hope to take the Company to newheights."
DIN : 00013796