It gives me immense pleasure to share with you that the financial year 2017-18 has been an eventful year for the Company and has given us the turnover crossing Rs. 300.00 crores.
In the financial year 2017-18, the Company has reached total revenue of Rs. 307.06 crores over Rs. 261.85 crores in the previous year and net profit of Rs. 1602.17 lakhs over Rs. 901.06 lakhs in the previous year, respectively. The EBIDTA growth of the Company was 75.02%. The growth of the Company was mainly attributed to the performance of the Criticare & Criticare Life and Infertility division. During the year under review, your Company launched around twenty new products and made continuous efforts for improvising the existing products.
The implementation of GST in July 2017 had also impacted the financial position of your Company, which is reflected in the results of the first quarter of FY 2017-18. In the recent past, the pharma industry also experienced slow growth rate due to implementation of new Government policies and control measures. Also, the increase in demand of regulatory and compliance issues, globally, has challenged the growth of the pharma sector. Despite of the challenges faced by the Company, your Company strives to give its best performance year over year.
Your Company received two new patents viz., Micafungin and Rifabutin in the year under review. We have started the process of filing the said patents in other countries as well, having market value for the product.
Gufic is well known and respected for Innovative and high Quality pharmaceutical and Herbal Products along with a wide range of APIs and our core competency also lies in manufacturing and marketing top end lyophilized injectable antibiotics at an affordable prices. We have penetration to more than 123 leading hospitals. As on date, your Company is having five divisions viz., Healthcare, Spark, Criticare, Criticare Life and Ferticare which caters to the needs of the people. We are in the process of expanding our business and stepping into oncology and dermatology in the near future.
We continue our journey of excellence by investing in our growth drivers that will steer future success and we strive to fulfill our aim of achieving leadership in the specialized medicinal segments and make products available at a cost-effective rate using innovation and technology to enhance the welfare of the population worldwide.
Looking ahead, we will continue to focus our efforts on the specialized area of Lyophilized injections & API’s and to contribute to society.
We kindly ask for the continued support of all our stakeholders.
For Gufic Biosciences Limited
Jayesh P Choksi
Chairman & Managing Director