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Sterling Biotech Ltd.

BSE: 512299 | NSE: STERLINBIO | Series: NA | ISIN: INE324C01038 | SECTOR: Pharmaceuticals

BSE Live

Nov 05, 16:00
0.77 0.00 (0.00%)
Volume
No Data Available
45,051
  • Prev. Close

    0.77

  • Open Price

    0.80

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    0.77 (38071)

Sterling Biotech is not traded on BSE in the last 30 days

NSE Live

Nov 05, 15:32
0.70 0.00 (0.00%)
Volume
No Data Available
16,887
  • Prev. Close

    0.70

  • Open Price

    0.65

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    0.00 (0)

Sterling Biotech is not traded on NSE in the last 30 days

Annual Report

For Year :
2003

Chairman's Speech

Dear Shareholders, 2003 could be summed up as a year that has put your company into a growth trajectory. Before I dwell more on that, let me share with you the performance of your company that has been quite satisfactory. In 2003, your company improved the topline by 56% to Rs 289.35 cr and the profit after tax increased by more than that proportion by 112% to Rs 45.75 cr. Interestingly, the company achieved its highest ever sales and profits in 2003 in just five years into getting into a highly difficult gelatine business, which has only 25 global manufacturers. Your company also reported the highest ever EBIDTA margin of 50%, perhaps the highest among all gelatine manufacturers! In 2003, your company was ranked 8th in a shareholder wealth creation survey by Motilal Oswal Securities Limited. The reasons are manifold. Your company's commitment to quality product, high customer responsiveness (through inventory), an ideal mix of domestic and global revenues, constant product upgradation and stringent cost control measures are some of them. I take this opportunity to thank every member of your company for making this possible. Now let me share with you the developments in 2003 that has put your company into a growth trajectory. Domestic market expansion through acquisition In 2003, Sterling acquired the 2000 tonnes gelatine capacity of Rallis India Limited, a TATA Enterprise for an all cash deal of Rs 47 cr that will increase the company's capacity to 10,200 tonnes, taking its global share to almost 4% of the total gelatine industry and10% in the pharmaceutical gelatine industry. In India, with this acquisition, Sterling becomes the undisputed leader In gelatine with a market share of over 60%. Global market expansion through new capacities Sterling has constantly added new capacities over the past few years. The process to set up greenfield capacities continues. Sterling's long term vision is to take 10% share of the global gelatine market and we will add capacities till we reach this target. The India advantage coupled with our commitment to technology, R&D, quality and regulations will help us gain a foothold in the overseas market, where a number of Fortune-500 pharmaceutical companies already source their gelatine requirements from us. Global visibility Till 2003, your company was listed on the Indian stock exchanges and has been ranked for the last two years in wealth creation study undertaken in India. In 2003, Sterling Issued $15 million GDR and listed itself on the Luxembourg Stock Exchange providing global visibility. I believe that with this listing access to International funds at competitive rates will help the company expand further. Going forward I am optimistic about the company's outlook. Having put the company on a growth trajectory. Sterling is confident of its performance in the future. Moreover, with Investment in technology and R&D, Sterling will get more customers and get a higher share from the existing customers and move closer towards its vision of a 10%share of the global gelatine industry I thank you for your continued support. Sincerely, Nitin J.Sandesara Chairman and Managing Director