Ind-Swift L Chairman Speech

MESSAGE FROM THE CHAIRMAN

Dear Shareholders,

Financial year 2018 has been one of the most challenging years in recent times for the global pharmaceutical sectors. In the face of severe pricing pressure in the generic drugs market, industry wide margins have been impacted. This has been compounded by supply constraints such as mounting oil prices and an unanticipated global capacity constraint owing to increased environmental regulatory requirements in China. The vigilance levels by regulatory authorities across markets only see an increase with each passing year adding to the existing pressures on manufacturers.

At Ind-Swift , we are making all efforts to reach to the desired levels of the operations. We are in the process of settlement with the Banks and improving our operations. Our Efforts on the Exports front and CRAMS are showing good results and revenue from the both the streams have increased by 32.98% & 129.26 % respectively.

Over all the ind-Swift is now on the right track strategically. The turnover of the Company was almost at the same level of last financial year amounting Rs. 280.73 crores as compared to Rs. 280.88 crores in 2016-17. During the Financial Year 2017-18 Losses before Interest, Depreciation, Income Tax and Amortisation Charges were 11.69 crores as compared to 311.32 crores in the financial year 2016-17. The funds are deployed judiciously. The focus at present is to make the Company debt free by retiring /takeover of the existing debt.

In the coming years the Company will improve its product mix to focus on the niche products. This will increase the marketing presence and will have positive impact on the working of your Company, making way for the overall growth of the Company with presence across India and other international markets.

With determination, strong will power and the support of our dedicated work force I am sure we will be able to fight back all these challenges and emerge as a winner.

I acknowledge with thanks, the support of my Directors, employees and various stakeholders, without whom we would not have been able to pass these difficult times.

With Regards

S.R. Mehta

Chairman