At the very outset, I would thank you for being with us and reposing
your confidence on the management. We make all possible efforts to meet
the highest standards for our products. Our focus is quality and we
believe in delivering nothing but the best.
Herein, I am pleased to write to you about your Company''s performance
for the financial year 2012-13. During Fiscal
13, your Company posted revenue of Rs.11030.52 Mn. and Profit after
Tax of Rs.530.36 Mn. We have started the new fiscal with confidence and
positivity. I do believe that the decisions by management over the last
year will yield positive results in the coming year. We have made
impressive strides towards the branded generic space and at the same
time maintaining our momentum towards manufacturing operations and
technology development. The idea behind the above strategy is to make
your Company''s presence felt across the pharmaceutical value chain
and at the same time provide impetus to its growth. You will be glad to
hear that we have made appreciable headway in nano- and biotechnology
areas. FY 13 has been a very challenging year for all of us. The
economic scenario is not cheerful and power cuts have posed problems.
But please be assured that capital expenditure plan is on track and
your Company''s infrastructure development is well on target. You will
be delighted to know that your Company''s facilities in Vizag and
Cuddalore will soon be ready to support the expansion of next growth
I am very happy to share with you that Shasun has the highest number of
phase-3 molecules in the pipeline. All this has the potential of being
translated into far greater supplier opportunities for us in the near
future. On the regulatory side, we have received approvals from key
regulatory agencies for our API and Formulations divisions and have
acquired accreditation from all majority agencies post their
The performance of the CRAMS division has been encouraging. We have
signed agreement for about 5 products with one of the top 3 generic
players in the world. This augurs well for the business unit in FY14.
EHS (Environment, Health and Safety) play an integral role in your
Company''s functioning. We are committed to promoting the best EHS
practices for wholesome and holistic development of your Company and
its people. Your Company has invested in reverse osmosis plants,
multiple-effect evaporators, agitated thin film driers and an activated
carbon bed facility for fugitive emissions. Apart from this, the
environment around your Company''s factory is regularly monitored by
MOEF-approved labs. The above expounds our commitment towards exemplary
EHS practices. Various audits by customers and consultants have also
established Shasun''s EHS practice as amongst the best in the industry
in the whole of our country.
We take our corporate social responsibility seriously and have taken
humble efforts to contribute to the community we live in. We have
partnered with Sankar Foundation Eye Hospital in Vizag, Andhra Pradesh,
to roll out awareness programmes, health camps, and have funded
surgeries for the poor. SPSL in the UK has been supporting
apprenticeships through a new initiative and has partnered with the
Northumberland County Council to make this a success. The waste water
management programmes have also been refurbished and the initiative has
succeeded in involving people from the community on an on-going basis.
The future looks exciting and your Company is all geared for value
creation. I am confident and enthused as we head towards our goal. I
would like to place on record my sincere appreciation and thanks for
the assistance and cooperation received from the Banks during the year
under review. My deepest thanks to each of you for your continual
support and confidence. Without you and the support of our customers,
and suppliers, your Company would not have been where it is today.
Finally I would like to end by thanking our staffs for their commitment
and contribution towards achieving our business objectives.
As I conclude a quote of Frank Lloyd Wright comes to my head, ''I know
the price of success; dedication, hard work, and an unremitting
devotion to the things you want to see happen.
With warm regards,
S. Abhaya Kumar
Managing Director Chennai