This was a momentous year, one which was of strategic importance for
 our company. Four years ago we set out with a vision to achieve the
 Healthy Billion - our dream of crossing the billion dollar mark in
 revenues. The year 2010-11 was therefore the HB Year - marking the
 countdown to our overarching goal. In a year packed with initiatives,
 novel and strategic, we once again generated a robust all round
 performance. For fiscal 2011, we reported total income from operations
 of Rs. 46.3 bn i.e. over  bn and a healthy 41% growth in Net Profit.
 This can attributed to the relentless focus on the goals, skillful
 execution of our business plans and sheer consistency, which are the
 fundamental strengths of the organization.
 
 As the companys performance in the year 2010-11 has been dealt with in
 greater detail elsewhere in this annual report, Id like to focus my
 thoughts on the foundations of our success, the trends that are
 emerging and our journey ahead in the coming years.
 
 The foundation of our successes
 
 The foundation of any successful growth process lies in aligning the
 organisation to its goals. We internalized this process, at the very
 start of our growth story in 1995. From our first goal of becoming a
 Rs. 1000 crore company by the year 2000, to the next goal of becoming a
 0 mn company by 2006-07 and the recently achieved goal of becoming a
 billion dollar company - the growth process has become a Zydus Way of
 doing things. At the heart of it all, lies a bold vision, clear
 direction, consistent performance and well thought out implementation
 plans. Under this broad canopy, are the various initiatives that we
 ongoingly undertake to integrate efforts, achieve synergies, enhance
 value and constantly improve our capabilities. The Zydus Way has
 worked well for us and will continue to be the mainstay as we continue
 to make substantial improvements to our operational effectiveness and
 create a culture of sustainable growth.
 
 Being prepared for the next wave
 
 Its often said that the ability to anticipate key trends that will
 shape the future of technology, customers, society and the marketplace
 will determine the survival of the enterprise.
 
 All around the world, the healthcare fraternity continues to be engaged
 in exploring the critical role of new medicines in the prevention,
 treatment and management of diseases and improving the quality of life.
 Trends such as globalization, shifting demographics, patent cliff and
 concerns on R&D productivity and pricing pressures are transforming the
 industry. The critical questions shaping our world are : How can
 innovation lead to new ways of tackling the enormous disease burden and
 improving healthcare outcomes? Are we prepared for the market
 transitions? What steps can be taken to reduce the economic burden of
 healthcare costs? How do we bring innovation to the frontline and more
 importantly, are we equipped to ride the next wave of innovation which
 may not just be restricted to products and extend to how we do our
 business?
 
 At Zydus, we have always believed that the first step to evolution is
 embracing change. Whenever we have adopted a differentiated strategy it
 has been in response to the need to break the mould and look at new
 approaches. This continues to be the guiding spirit as we look at a new
 horizon of business opportunities that may come our way. Broadly, our
 four-step strategy aims to:
 
 First : identify and capture market transitions and new business
 opportunities with speed and agility
 
 Second : approach innovation in new ways - in terms of technology,
 products, and business processes that can lead to new dimensions of
 growth Third : explore differentiated strategies to drive value in the
 markets that we operate and in the products that we offer
 
 Fourth : form strategic partnerships and alliances with best-in-class
 companies to offer new solutions and reach out to newer markets more
 quickly and efficiently
 
 Aiming higher, moving faster
 
 Its on a strong record of achievement that we are basing the next
 evolution of our company. Our next goal Beyond the Billion calls on
 us to aim higher, move faster and perform better than ever before. It
 raises the bar of growth and profitability and puts more emphasis on
 global expansion. We believe that we are in an advantageous position to
 optimise strengths, capitalise on investments, efficiently leverage
 leadership and talent resources and extend our ability to compete in
 the global marketplace. The Business Health metrics, which we
 maintained right through the journey to the billion, will continue to
 play an important role in the future as well. Well-defined performance
 parameters to drive consistent results, maximisation of resources and
 adopting systems and processes that create a lean culture will continue
 to step up efficiencies and enhance business productivity.
 
 Well-positioned for the future
 
 At Zydus, we are driven, not by a sense of nostalgia for the past, but
 by a vision of what we can be in the years ahead. We believe that the
 team at Zydus which consists of over 13,000 people across 20
 geographies, are creating new windows of opportunities for the group
 with their diversity, creativity and a passion for achieving results.
 Over the years, by attracting, engaging and retaining our talent, we
 have put together high performance teams possessing excellent business
 as well as technical skills. The right mix of talent has helped us
 successfully combine business expertise with a technological edge for
 desired results.
 
 The starting point in building a high-performance team is leadership
 and that is why one of the key focus areas of our organisation
 transformation programme has been to strengthen the leadership bench
 strength and develop leadership competencies. We believe that this is
 crucial as we proactively lead change and guide the organisation
 towards newer levels of achievement.
 
 Moving ahead, we have now reset our vision. We aspire to be a leading
 global healthcare provider with a robust product pipeline. Stepping
 beyond the billion, we shall achieve sales of over  bn by 2015 and be
 a research-based pharmaceutical company by 2020.
 
 Our accomplishments and successes, as always, are to support long term
 value creation for all our stakeholders. We wish to thank our
 employees, partners in progress, the healthcare fraternity and the
 shareholders for their unstinted support. Working together, we will
 create healthier communities through novel ideas, innovation and
 quality healthcare solutions. I look forward to your continued support
 as we embark on our next phase of growth, beyond the billion.