VENUS REMEDIES RIDES HIGH ON EXPORTS, REGISTERS, 61% GROWTH IN ANNUAL SALES FOR FY 20-21

·         The company’s annual sales grew from Rs 339.33  crore in FY 2019-20 to Rs  548.12 crore this fiscal, a 61% growth over last year

·         It posted a net profit of Rs 61.77  crore in FY 2020-21

·         The firm’s EBITDA grew by 59% in FY 2020-21 to reach Rs 73.40  crore

Mumbai, June 1, 2021 (GNI): Capitalising on its execution of large export orders even in the face of Covid-19 constraints, Venus Remedies Ltd (VRL), India’s leading Research and Development-driven pharmaceutical company, has recorded a 61% increase in annual sales in 2020-21 as compared to the previous financial year.

Driven by a robust supply of active pharmaceutical ingredients by key long-associated suppliers and riding on global exports, the company’s major growth driver, VRL’s annual sales grew from Rs 339.33 crore in FY 2019-20 to Rs 548.12 crore this fiscal.

Announcing its audited, consolidated and standalone financial results for the quarter and year ending March 31, 2021, the company reported a net profit of Rs 61.77 crore. Its EBITDA grew by 59% in FY 2020-21 to reach Rs 73.40 crore.

Embarking on a debt-free future for the company, VRL has repaid its entire debt with banks and financial institutions in FY 2020-21. “As on date, there are no secured borrowings from banks or financial institutions in the books of accounts of the company,” said Mr Saransh Chaudhary, President, Global Critical Care, Venus Remedies Ltd, while commenting on the annual results.

“We have been putting in dedicated efforts and resources over the past two years to strengthen our relations with suppliers and customers, which helped us in gaining their confidence and proved to be a key turning point for the company,” he said.

Speaking about the highlight of its operations in FY 2020-21, Chaudhary said that while the world reeled under the adverse impact of the pandemic, VRL rose to the occasion by catering to the requirements of Covid-19 patients through medicines addressing the problem of blood coagulation and other critical care antibiotics.

VRL’s R&D initiatives to develop new products catering to unmet medical needs and its focus on building a robust product pipeline consisting of a balanced mix of generic and R&D-based drugs have given a definitive edge to the company in the pharmaceutical industry.

Chaudhary said that with a recalibrated marketing strategy and a carefully laid out marketing blueprint, VRL has been able to tap into an expansive customer base both within and outside India, which has turned out to be a decisive game-changer for the company.

About Venus Remedies Ltd. is a research and development driven, pharmaceutical manufacturing company and among the leading injectable manufacturers in the world.

The manufacturing units are certified with 20+ national and International Accreditations, including EU-GMP, TGA-Australia, among many others. The company has an international presence in 70+ countries, covering over 75 products, with a focus on critical care and oncology. 

VRL is one of the very few R&D-driven companies in the world working on Antimicrobial Resistance, focusing on novel solutions to tackle the growing threat of superbugs. The Company’s R&D centre is approved by the Department of Scientific and Industrial Research, Government of India (DSIR) and is located in Baddi, India. 

Driven by a top class team of managers and motivators, this organization is counted as one of the most professional companies of India and a preferred place for top innovators and managers to join the bandwagon of the globally significant Indian Pharmaceutical industry.

Venus Remedies’ research team has proved itself to be a power house of innovation with an extensive portfolio of patented research products targeting Antimicrobial Resistance. 

Company is focused to deliver unique and innovative solutions for key unmet medical needs in the areas of Antimicrobial Resistance, integrated natural medicine and cancer effectively.ends