It gives me immense satisfaction and is pleased to welcome you all to 18th Annual General Meeting of the company. This year under report has been an inflection pointing Ahlcon Parenterals journey to success, and thus with a deep sense of satisfaction, I share with you, the results of your company for the Financial Year 2009-10, and the Company's strategy going forward. Financial Excellence: The year 2009-10, for your company was of sterling performance across several financial and operating indicators. The Turnover for this fiscal stood at an impressive Rs.5063 lacs, representing a 32 percent increase from the last years Rs.3830 lacs. This was reflective of the company's exemplary management capabilities in pharmaceutical arena. Consequently the Net Profit (PAT) was of up by 216 percent to Rs. 715 lacs, as against Rs. 226 lacs in previous fiscal. I am confident that this trend shall be maintained for the future years also. We have been putting untiring efforts to continuously upgrade the technical and business skills, by employing a task force of motivated and committed professionals.

At "AHLCON", we stress “Value for Money”. Qualitative product is the measure of achievement here. Production facilities have been upgraded to conform to latest GMP standards as per international guidelines and the specified requirement of the giant pharma customers. To achieve the desired plans to export a substantial portion of its production meeting the standards of GMP, WHO Geneva standards, your company has already started the process of product registration in more than 15 countries. Strategic investments, robust business plans, sound management practices and contribution by our dedicated employees have collectively resulted in the company performing exceedingly well. Industry review: India has emerged as an attractive destination for outsourcing as it provides low cost manufacturing at a world class quality of products. The scientific, technical and manufacturing skills available in India match the requirements of global drug manufacturers those are increasingly seeking to offshore research and manufacturing activities previously performed in-house. With the recognition of India as a high quality and low cost manufacturing base, we are well placed to grab maximum benefits as we have been able to create a niche market for contract manufacturing by delivering superior quality products and thereby, more and more valued customers, both from the national and international market are approaching us for getting their products manufactured in our plant.

Expansion

The production capacity of the company is being scaled up as it plans to stretch its operations in both the domestic as well as international markets. The erectioning of the 5th phase of the ongoing expansion has already begun and the commercial production from the same shall start very shortly. Currently, the company has an installed capacity of 32 million units for LVP and 144 million units for SVP. With the installation/ commissioning of the new machine, the installed capacity of LVP will be up by further 13 million units and the total installed capacity of LVP will be 45 million of units & SVP 144 million units.

Human Resources Management

As we explore new markets and new products, new skills are set to be developed to meet the new challenges. Your company has added many technical and commercial staffs equipped with specialized knowledge in their respective fields. To sustain the increase in employees' productivity, we organize continuous competency development programmes and trainings. We also encourage employees to acquire additional skills through participation in seminars. Overall, the year re-affirms our commitment of creating value for our shareholders by focusing on profitable growth. With the spirit, commitment and dedication of Ahlcon Parenterals Team, we are confident of realizing our growth potential. Our core values shall propel us towards our vision of becoming one of the largest and most admired pharmaceutical ophthalmic and I V fluids company nationally / internationally, which will help your company to deliver sustainable and profitable growth for many years to come. The journey of excellence is undoubtedly a tribute to our many stakeholders - our consumers, customers, partners, associates and our dedicated employees of today and yesterday who have steadfastly stood, as we persevered to create a national asset. Acknowledgement: With gratitude to our investors, employees, customers and all stakeholders, we look forward to your continued supported in our endeavour.