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Annual Report 17-18 Initial Pages for Web.Cdr Contents Safe Harbour Statement Corporate Information 01 This report contains forward-looking statements, which may be identied by their use of words like Tribute to Late Shri Ravinder Jain 02 ‘plans’, ‘expects’, ‘will’, ‘anticipates’, ‘believes’, Vision, Mission & Values 03 ‘intends’, ‘projects’, ‘estimates’, or other words of similar meaning. All statements that address Chairman's Message 04 expectations or projections about the future, Panacea Biotec at a Glance 06 including but not limited to statements about Company’s future growth drivers, product Financial Highlights 07 development, market position and expenditures Core Strengths 08 are forward looking statements. Forward looking statements are based on certain assumptions and Management Discussion & Analysis 10 expectations for future events. The Company may Directors' Report 25 not guarantee that these assumptions and expectations are accurate and will be realised. The Corporate Governance Report 49 Company’s actual results, performance or Auditors' Report on Standalone achievements could thus differ materially from Financial Statements 66 those projected in any forward-looking Standalone Financial Statements 72 s t ate m e nt s. Th e Co m p a ny a s s u m e s n o responsibility to publicly amend, modify, revise Auditors' Report on Consolidated any forward-looking statements, on the basis of Financial Statements 106 any subsequent developments, information and Consolidated Financial Statements 110 events. Mr. Soshil Kumar Jain, Chairman (Sitting) along with his colleagues on the Board and other officials (from left) Mr. Mahipat Singh, Mr. Vinod Goel, Mr. N. N. Khamitkar, Mr. O. P. Kelkar, Mr. Mukul Gupta, Mr. K. M. Lal, Dr. Rajesh Jain, Mr. R. L. Narasimhan, Mr. Sandeep Jain, Mr. Sumit Jain, Mr. Ankesh Jain, Mrs. Manjula Upadhyay and Mr. Devender Gupta, on the occasion of the Board Meeting held on March 12, 2018 at the corporate office at New Delhi. Corporate Information Board of Directors R&D Centres Executive Directors GRAND R&D Centre Mr. Soshil Kumar Jain - Chairman Plot No. 72/3, Gen Block, T.T.C. Indl. Area Dr. Rajesh Jain - Managing Director Mahape, Navi Mumbai - 400 710, India Mr. Sandeep Jain - Joint Managing Director SAMPANN Drug Delivery R&D Centre Mrs. Sunanda Jain - Whole time Director Ambala-Chandigarh Highway Lalru – 140 501, Punjab, India Mr. Sumit Jain - Director Operations & Projects Mr. Ankesh Jain- Director Sales & Marketing LAKSH Drug Discovery R&D Centre Plot No. E-4, Phase II, Indl. Area Non-Executive Independent Directors Mohali – 160 055, Punjab, India Mr. R. L. Narasimhan OneStream Research Centre Mr. N. N. Khamitkar B-1 Extn./A-24-25, Mohan Co-operative Indl. Estate Mr. K. M. Lal Mathura Road, New Delhi -110 044, India Mrs. Manjula Upadhyay Sales & Marketing Office Mr. Mukul Gupta 7th oor, Sagar Tech Plaza, ‘A’ Wing, Saki Naka, Company Secretary Andheri (East), Mumbai - 400 072, India Mr. Vinod Goel - Group CFO and Head Legal & Statutory Auditors Company Secretary M/s. Walker Chandiok & Co. LLP Chief Financial Officer Chartered Accountants, Gurugram, India Mr. Devender Gupta - Chief Financial Officer & Head Secretarial Auditors Information Technology M/s. R&D Company Secretaries, Delhi, India Registered Office Cost Auditors Ambala-Chandigarh Highway M/s. GT & Co., Cost Accountants, New Delhi, India Lalru - 140 501, Punjab, India Registrar & Transfer Agents Corporate Offices M/s. Skyline Financial Services Private Limited st B-1 Extn./G-3, Mohan Co-operative Indl. Estate D-153 A, I Floor, Okhla Indl. Area, Phase-I Mathura Road, New Delhi - 110 044, India New Delhi - 110 020, India B-1 Extn./A-27, Mohan Co-operative Indl. Estate Banks Mathura Road, New Delhi - 110 044, India Axis Bank Limited Manufacturing Facilities Bank of India Malpur, Baddi, Dist. Solan Canara Bank Himachal Pradesh - 173 205, India IDBI Bank Limited Ambala - Chandigarh Highway Indian Overseas Bank Lalru - 140 501, Punjab, India State Bank of India Union Bank of India Information as on August 14, 2018 www.panacea-biotec.com CIN: L33117PB1984PLC022350 Panacea Biotec Ltd. 1 Tribute to Late Shri Ravinder Jain (03.08.1957 – 21.02.2018) Dear Stakeholders, Shri Ravinder Jain, our beloved Managing Director passed In January 2011, India achieved Polio Eradication which away on 21st February 2018. was a moment of pride for the entire BHARAT and entire Panacea Biotec family including ex-employees and Panacea Biotec, the Company he founded has lost a visionary, associates who do not work with us and have moved on. creative, genius and a dynamic leader and BHARAT has lost an amazing human being. Those of us who have been We all at Panacea Biotec thank Shri Ravinder Jain from the fortunate enough to know and work with Shri Ravinder Jain core of our heart for choosing us to be part of his journey. have lost a coach and an inspiring mentor. He was the man He has left behind a very strong company with a Purpose, loved and held in high esteem by all who have been Values and Mission that we need to continue to work on associated with him at any time during his journey of life. He along with a solid and huge infrastructure, latest technology, made us all better, got us all out of our comfort zones by state-of-the-art manufacturing operations, excellent constant challenges he used to throw on all of us in making research and development centers, strong brands, global us better human beings, condent and self-reliant. His network of partners and above all highly committed, brilliance, passion and energy were the source of countless talented, smart and hardworking people with a culture of ideas to implement unconventional yet cutting edge ways to performance. His spirit will forever be the foundation of achieve them leaving many including me perplexed. Panacea Biotec. We at Panacea Biotec are every day inspired by the I, on my behalf as well as on behalf of Panacea Biotec, its contribution to our great Nation BHARAT of Polio Eradication Board of Directors, employees, ex-employees, employees of he started in 1983 and led us all from the front for over 35 associated companies and other stakeholders, commit to years. We are very proud that he made all of us a part of his him that the journey he started and led from the front will exciting, insightful and enjoyable journey. continue with even more vigour, excitement and joy to reach Panacea Biotec in this process, under the leadership of heights that he always lived for. Shri Ravinder Jain, partnered with Government of India, We all pledge ourselves to this Mission of “Innovation in World Health Organization (WHO), United Nations Support of Life” once again and shall remain committed to it. International Children's Education Fund (UNICEF), Bill and Melinda Gates Foundation to name a few and supported the National Program of Polio Eradication by supplying over 10 billion doses of Polio vaccine. Every child born in last Dr. Rajesh Jain (Ph.D) 20 years stays protected with vaccine manufactured by Managing Director Panacea Biotec. Mission Vision Goal Objective Innovation Leading To Meet Every Take Ideas from Healthcare Need Grey Cell to in Support Health with a Markets in a Management of Life Panacea Biotec Proactive Manner Company Brand and Service Our Values A process which transforms business ideas to marketable products Bringing together different functions of the organisation like marketing, nance, R&D, manufacturing to meet a common goal A 'way of life' in every activity, from administration to innovation To challenge every process & solution to discover ways to make them better Intolerance towards stability, encouraging continuous change Thinking about the impossible and discovering ways to execute it Deep rooted and sustainable change and supercial efforts Honesty Ethical practices Transparent and clear communication Always learning & improving Striving for leadership in every activity and to become the guiding star Having a vision of the future and succeed in reaching there before anyone else Persevere in owning innovation and be the rst mover in the market Empowering people to speed up the organisation growth Always embracing new technology and processes Condence to stand apart from competitive organisations Humility to respect all individuals Care for individuals and environment Placing betterment of people (external and internal) at the core of each activity Core of new developments Chairman’s Message Dear Stakeholders, “ ” Panacea Biotec Ltd. 5 Panacea Biotec At a Glance Panacea Biotec is one of India's leading research companies to achieve the mutual aim of better- based biotechnology companies with established quality healthcare. The company's state of the art capabilities in research & development, manufacturing facilities for vaccines and manufacturing and marketing of pharmaceutical pharmaceutical formulations comply with the key formulations, vaccines and biopharmaceuticals. International regulatory bodies like USFDA, BfArM Panacea Biotec consistently focuses on providing Germany and WHO-cGMP standards. The product novel and innovative products at affordable portfolio includes highly innovative prescription prices by merging the cutting-edge science and products in niche therapeutic areas such as technology with its unwavering commitment to diabetes & cardiovascular management, spread good health and healthy living within the oncology, nephrology & transplant management, reach of the millions of families across the world to osteoporosis management, gastro-intestinal care, meet the unmet needs of patients. pain management products and pediatric
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