Bal Pharma Ltd., the bulk and formulation major with ISO 9001 certification, has posted remarkable growth both in sales as well as profits. Gross turnover for the three quarter ended 31 December 2003 was Rs.46.68 crore, over the corresponding period previous year with figures of Rs.44.9 crores. Profit before tax was Rs.2.39 crore, an increase by 6.2 per cent over the corresponding figures. Profit After Tax has also gone up by 7.1 per cent at Rs.2.25 crore against Rs.2.1 crores of the previous year.
The cardiac division of the company-Servetus has done exceptionally well with a jump of 43 per cent over last year and generics too has shown a growth of 35 per cent as compared to last year.
Informing the result at the board meeting. Shailesh Siroya, managing director, Bal Pharma Ltd. said, “The company is consolidating its position as one of the main player amongst the mid-size companies from India with national and international business activities. We have maintained a good growth rate although the pharma industry is taking a beating with single digit growth rate through out the calendar year ended December 2003 and this has been possible primarily due to our focused approach in select fast growing and potential therapeutic segments like cardiac, gynaecology and diabetes. Our presence in various areas has been a support to the organization’s growth while focus on branded products has borne fruit for the company.”
Bal Pharma has made good investment in their R&D facility to cater to US and European markets, which truly reflects their commitment to meet the challenges of the global and domestic sector for formulations and bulk actives. With Bal Pharma’s strong presence in diabetic range nationally as well as globally, we are confident of playing a major role in the industry, he stated