5.11 Crores and the generic business was revived with turn over touching Rs. The exports formulations division registered a growth of 8.78% by increasing its turnover from Rs. Y^ur Company expanded i hydrocodone its presence in Latin America market and is expected to touch many new markets in the next year.
The bulk drug business both domestic and exports have been very encouraging with the growth of 31.52% as the turn over of the division reached Rs.
Utilization of facility at Basav Chem Limited (wholly owned Subsidiary Company) has also been to its full capacity. Regular supplies of products are made to developed markets such as Europe, Japan, Australia and Canada where products are already registered. Various DMF have been filed across the globe to increase our presence in other markets.
The total direct exports from your Company increased from Rs 32.82 Crores in the previous year to Rs 36.71 Crores in the year showing a growth of 12%.
Uttarakhand Formulation Plant: The state of art formulation plant designed for regulated market in the excise free zone was completed during the year and the commercial production started from 1st January, 2009. Your Company is now gearing to take this plant into international markets in 24 months. RESEARCH & DEVELOPMENT: The Research and Development division of Bal Pharma Limited has been i hydrocodone continuously working on the development and standardisation of processes leading to a variety of niche pharmaceutical products. The know-how thus developed in house has resulted in the bulk production of a few novel drugs with which the Company has entered the international commercial market. The pharmaceutical products that have been developed in the R&D division are backed by extensive documentation of a do generic xanax look standard to meet stringent requirements of international regulatory authorities. The quality characteristics of the product offered are well defined and are i hydrocodone supported by sophisticated analytical methodologies developed for the specific purpose.
A foray has also been made by the R&D Division in the field of development of new chemical entities. The Company has filed for a patent for a new product to protect its Intellectual Property Rights. Ready acceptance of products developed at Bal Pharma Limited in international pharmaceutical market is a yardstick of i hydrocodone the high quality characteristics that the products possess.
Application of stringent i hydrocodone control measures at each stage of development of any pharmaceutical products provides ample assurance on all parameters of quality. The esnips com user buy cheap tramadol R&D Division is also working on introducing new products possessing chiral characteristics to meet the increasing demand for such products in the international commercial market.
6.AUDIT COMMITTEE: The Audit Committee, a sub-committee of Board consisted of Dr. G S R Subba Rao, Independent Director, Mr.David Rasquinha, Nominee Director of EXIM Bank, and Mr. G.S.R Subba Rao, has been discharging its duties under SEBI Guidelines read with the Listing Agreement. The said Committee is also functioning as Audit Committee under Section 292A of the Companies Act, 1956.
7.INTERNAL CONTROL SYSTEM AND THEIR ADEQUACY: Your Company has an adequate system of internal controls with clearly defined authority limits.
They ensure that the Company's assets are protected against loss from unauthorised use or disposition and all transactions are authorised, recorded and reported in conformity with generally accepted accounting principles.
These systems are designed to ensure accuracy and reliability of accounting data, promotion of operational efficiency and adherence to the prescribed management policies.
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