Ladies and Gentlemen,
I would like to extend you a warm welcome to the 28th Annual General Meeting of your Company.
The Annual Report containing the Directors Report, Notice and the Accounts for the year ended LAST AGM DATE have been with you for some time and as you must have gone through the same, with your kind permission, I will take them as read.

The Company has already chalked out our business strategy and keeping in line with this it restructured its business model, focusing on the key areas and core competencies and has started the process of building up a strong platform in order to turnaround and achieve its ultimate goal of creating a better shareholder value and enhanced brand image.
I am pleased to inform you that based on the turnover of first six months of the current year, your company expects to achieve more than hundred percent growth in the turnover during the current year.

The Company has undergone financial restructuring and has been able to reduce its interest burden substantially which will have a positive impact on the financials of the Company.

Post Product Patent regime, new opportunities have arisen for Pharmaceutical companies in India in the field of outsourcing of products and product development. The Company is geared up to tap these new opportunities, which is fast emerging and this will help fuel growth of the Company. The company’s R&D centre is actively engaged in the development of new formulations and new drug delivery systems and have already filed few patents in India and abroad
Freeze Dried products are fast gaining popularity amongst the medical fraternity and more and more new molecules are now being developed under this category. The Company is emerging as one of the leading manufacturers of freeze dried products. The demand for such products is growing continuously and rapidly and therefore, company has decided to expand its freeze drying capacity in coming months.

The Company has also planned to introduce a range of lyophilized injectables into the Domestic market for Hospitals, Nursing Homes and Institutions.

Your Company also expects to increase its turnover by increase in sales to its Joint Venture Company, Lyka BDR International Ltd. by assisting them to register a wide range of products manufactured by your company, in several countries, by facilitating the process of registration through the skilled resources of the Company.
The Branded Generics market in India is growing exponentially and your company expects to increase its presence in this market.
As you are all aware, your Company has passed through a testing time during last few years. However, the Company has reworked its strategy for meeting the future challenges and I see a very promising future ahead for your Company.
I take this opportunity to express my sincere thanks to all the stakeholders of the Company for their utmost faith and trust reposed in the Company. I also thank various Ministries of the Government of India, Government of Maharashtra and Gujarat, Banks and last but not the least, the loyal and sincere employees of the company, for their co-operation and assistance rendered from time to time.