30th AGM of Ind Swift Laboratories Limited - 29-09-2025 — Transcript

Full transcript

1. 0:22Sir, please start. We are live here with
2. 0:25just checking the quum. Then we'll
3. 0:27start.
4. 0:31Okay.
5. 0:33>> Yeah. The quorum is we are having the
6. 0:35quorum. So
7. 0:37I begin with the proceedings. Good
8. 0:39morning everyone. I PI WMA, company
9. 0:42secretary and compliance officer of your
10. 0:44company. Welcome you all to the 30th
11. 0:46annual general meeting of Insoft
12. 0:47Laborities Limited which is being held
13. 0:50through video conferencing. I am
14. 0:52attending this meeting from the
15. 0:53registered office of the company at
16. 0:55Chandigar. Before we start the
17. 0:57proceedings of the AGN, I would like to
18. 1:00highlight certain points. This meeting
19. 1:02is being held through video conferencing
20. 1:04facility provided by CDSL in accordance
21. 1:06with the circulars issued by the
22. 1:08Ministry of Corporate Affairs and the
23. 1:10Securities and Exchange Board of India
24. 1:12from time to time and applicable
25. 1:14provisions of the companies act 2013 and
26. 1:16SEBI listing regulation 2015. Hence, the
27. 1:20deemed venue of the meeting shall be at
28. 1:22the registered office of the company.
29. 1:24The proceedings of this meeting are also
30. 1:25being recorded for compliance purposes.
31. 1:29The facility for joining this meeting
32. 1:31opened 15 minutes before the scheduled
33. 1:33time of commencement of the meeting
34. 1:34which is 11:30 a.m. and it will remain
35. 1:37open for another 15 minutes after start
36. 1:40of the meeting facilitating the
37. 1:41shareholders to join the meeting.
38. 1:43Pursuant to the MCA circular dated 8th
39. 1:46April 2020, the facility to appoint
40. 1:48proxy to attend and cast vote for the
41. 1:50members is not available for this AGM.
42. 1:53However, the body corporates are
43. 1:55entitled to appoint authorized
44. 1:56representative to attend the AGM through
45. 1:58video conferencing and other audio video
46. 2:01means and participate and cast their
47. 2:03votes through eboard.
48. 2:06Request participants to mute themselves.
49. 2:16The registered office of of the company
50. 2:17which is situated in Chundigard shall be
51. 2:19deemed as the venue for this AGM and
52. 2:21proceedings of the AGM shall be deemed
53. 2:23to be made at the registered office. The
54. 2:26members were provided an opportunity to
55. 2:28inspect all applicable stesto registers
56. 2:31documents and certificates including
57. 2:33certificate issued by the secretary of
58. 2:34auditors in relation to the
59. 2:36implementation of the esop scheme of the
60. 2:38company by writing to the company at its
61. 2:41email ID investor at the datelabs.com
62. 2:44till the date of age in accordance with
63. 2:46reasons of companies act and sabi
64. 2:48listing regulations members have been
65. 2:50provided with the facility to exercise
66. 2:52their right to vote by electronic means
67. 2:55both through remote e voting facility
68. 2:57and e- voting at the annual general
69. 2:59meeting. Remote e voting facility was
70. 3:01made available to all the members
71. 3:03holding share as on the cutoff day that
72. 3:05is 22nd of September 2025 during the
73. 3:08period commencing from 9:00 a.m. on
74. 3:1326th September 2025 till 5:00 p.m. on
75. 3:1628th September 2025. Members joining the
76. 3:19meeting through video conferencing
77. 3:21facility who have not yet cast their
78. 3:23vote by means of uh remote e- voting may
79. 3:26vote through e voting facility provided
80. 3:27at this annual general meeting. This e-
81. 3:30voting platform is open now for voting
82. 3:32and will close 15 minutes from the time
83. 3:34of closure of this meeting. The members
84. 3:36who have not cast their votes by remote
85. 3:38e voting prior to this meeting are
86. 3:39requested not to uh who have already
87. 3:43casted their votes are requested not to
88. 3:45vote their uh vote again. The board of
89. 3:48directors have appointed Shiv Vishala
90. 3:50practising company secretary as the
91. 3:51scrutinizer for this agent. Based on the
92. 3:54report of the scrutinizer, the combined
93. 3:55results of remote eoting and e voting at
94. 3:58the AGM will be announced and displayed
95. 4:00on the website of the company and will
96. 4:02also be submitted to the stock exchanges
97. 4:04within two working days from the
98. 4:06conclusion of this AGM. We have received
99. 4:09request from nine members for
100. 4:11registration as speaker shareholders in
101. 4:12the AGM today. The shareholders who have
102. 4:14not registered as speakers are also
103. 4:16invited to express their views and raise
104. 4:18questions if any uh in the chat box
105. 4:22provided. The board would be responding
106. 4:24to such queries at the end of the
107. 4:26meeting. With this I now hand over the
108. 4:28proceedings of the AGM to Shirana
109. 4:30Munjali, chairman and managing director
110. 4:32of your company. Thank you
111. 4:35sir.
112. 4:37>> Thank you ch Thank you praep. Uh dear
113. 4:41shareholder good morning. I'm Navatra
114. 4:43Munjal chairman and man director of your
115. 4:46company. I'm attending this meeting from
116. 4:49visitor.
117. 4:51I officially welcome you all to this
118. 4:5530th annual Japan meeting of the
119. 4:56company. Hope all of you are safe and in
120. 4:59good health.
121. 5:01This meeting is being held through as
122. 5:04the best known through video
123. 5:05conferencing in accordance with the
124. 5:08circular issued by the ministry of
125. 5:10corporate affair and SEBI
126. 5:13participants participation of members
127. 5:16through video conference is being
128. 5:17reckoned for the purpose of forum as per
129. 5:20the circular issue by the MCA and SEBI
130. 5:23from time to time.
131. 5:25The requested forum being present, I
132. 5:28call the meeting to order.
133. 5:30Before we start the formal proceeding of
134. 5:32the agent, I would now request my
135. 5:36colleagues at the video conference to
136. 5:38introduce themsel starting with Mr.
137. 5:42Parvat Kurana, the independent director.
138. 5:49Mr.
139. 5:50Kurana
140. 5:58then Mr.
141. 6:00Good morning everyone. I'm
142. 6:03independent.
143. 6:10Good morning everyone. I'm independ
144. 6:20your voice is cracking.
145. 6:33his internet is unsteady. So,
146. 6:36>> okay. In the meantime, Kumar Gupta.
147. 6:40Morning everyone. I'm
148. 6:47>> uh Gupta G, you are also on mute.
149. 6:53>> Oh, I'm audible.
150. 6:55>> Yeah. Yes.
151. 6:57>> Uh good morning everyone. I am Rajendra
152. 7:00Kumar Mupta, independent director and
153. 7:02chairman of the nomination and
154. 7:04remination committee, risk management
155. 7:06committee and stakeholder committee of
156. 7:08the company. I am attending the AGM from
157. 7:11Chandigar.
158. 7:13>> Good.
159. 7:14Uh thank you Na
160. 7:18Chat.
161. 7:20>> Good morning everyone. I'm Nija
162. 7:22Chetling, independent director of the
163. 7:24company. I'm attending this meeting from
164. 7:28Mount Gambia, South Australia. Thank
165. 7:30you.
166. 7:30>> Good. Thank you, Sud Guptari.
167. 7:34>> Good morning everyone. I am Subhot
168. 7:36Gupta, independent director of the
169. 7:38company. I'm attending this meeting from
170. 7:40Panchi.
171. 7:43>> Mr. Immanu Jan.
172. 7:46>> Morning everyone. I jan the joint
173. 7:48managing director of the company. I am
174. 7:50attending this meeting from the
175. 7:52registered office of insurance dividends
176. 7:54in the earth.
177. 7:56So Rishab Ma.
178. 7:58>> Good morning everyone. I am Rish Ma
179. 8:01full-time director. I am attending the
180. 8:03meeting from Davis.
181. 8:06>> Sahil Munjal.
182. 8:08>> Morning everyone. I'm Sahil Munjal
183. 8:11executive director and I'm join joined
184. 8:13this meeting from Sagal
185. 8:16>> Africa
186. 8:18>> Africa.
187. 8:19>> Gen Agaral CFO.
188. 8:22>> Good morning everyone. I am Gan Agarwal,
189. 8:24chief financial officer of the company.
190. 8:27I am attending this meeting from
191. 8:28Chandigar.
192. 8:32>> Huh. Prabhaji, you can repeat again your
193. 8:35Wi-Fi tracking.
194. 8:39>> Hello everyone. I am Prabhad Kurana uh
195. 8:43independent director and uh chairman of
196. 8:46the audit committee. I am attending this
197. 8:48meeting from Zerpur.
198. 8:50>> Good. Thank you. Thank you all.
199. 8:53We are also joined by the representative
200. 8:56from our secretary auditor internal
201. 8:58auditor as well as Mr. Vishal or our
202. 9:02secretarial audit and scrutinizer for
203. 9:05the meeting.
204. 9:07Now uh
205. 9:10once again dear show holders it give me
206. 9:14immense pride to welcome you all to the
207. 9:1730th annual general meeting of Winfield
208. 9:19Award in LinkedIn.
209. 9:2230 years ago we embarked on a journey
210. 9:25fueled by a dream to build a company
211. 9:28grounded in innovation trust and
212. 9:33impactful healthcare solutions.
213. 9:36Today as your chairman and fellow sh
214. 9:38stakeholder I'm honored to share the
215. 9:42incredible journey we have undertaken
216. 9:44together a journey marked by resilience
217. 9:48adaptability and remarkable success.
218. 9:51This AGM is not just another meeting it
219. 9:54is a significant milestone in our story.
220. 9:58The past year has been one of the most
221. 10:01defining chapter in our history. In
222. 10:04March 2024,
223. 10:06we completed the Islam sale of our API
224. 10:08business,
225. 10:10enabling us to shed that and move
226. 10:13forward with a cleaner balance sheet and
227. 10:16sharper strategic focus.
228. 10:19This was a tough but necessary decision.
229. 10:24Letting go of the part of our past to
230. 10:27prepare for a brighter future.
231. 10:30This year also marked a transformative
232. 10:34milestone after two years of relentless
233. 10:36effort. The honorable national company L
234. 10:39renewal Chundigard branch approved the
235. 10:43merger of in Limited with In Laboratory
236. 10:45Limited on 17th of July 2025.
237. 10:50Effective from 8th August 2025. This
238. 10:54merges unites our entire formulation
239. 10:57business under one roof.
240. 10:59Achieving this in our 30 30 years is
241. 11:03deeply symbolic. It feels like coming
242. 11:06full circle
243. 11:08returning to the foundation on which the
244. 11:10institute was built now with but now
245. 11:13with a greater strength agility and
246. 11:15vision
247. 11:18from restructuring to re resurgence.
248. 11:22Institute has
249. 11:24re-imagined its future with a clear
250. 11:27focus on population
251. 11:29with stronger margin and sharper
252. 11:31execution.
253. 11:33What began as a transition has evolved
254. 11:36into a transformation
255. 11:38unlocking scale innovation and global
256. 11:41opportunity.
257. 11:43Despite structured changes 2024 and 25
258. 11:49showcast our resilience we recorded
259. 11:53revenue of 550 cr and a profit before
260. 11:57tax of 41 cr.
261. 12:00Exports contributed nearly 400 cr plus
262. 12:04reflecting the strength over global
263. 12:06business unit. Old domestic formulation
264. 12:09crossed while domestic formulation also
265. 12:12crossed 150 cr
266. 12:14driven by a strong growth in gynecology
267. 12:17and periodics.
268. 12:20These figures are not just numbers.
269. 12:23They validate our strategy, our people's
270. 12:26dedication and our vision coming to
271. 12:28life.
272. 12:30Our balance sheet today is one of our
273. 12:32greatest assets. Looking forward looking
274. 12:36at our growth strategy based on four key
275. 12:40pillars.
276. 12:42Top of that is the therapy expansion in
277. 12:44domestic
278. 12:46entering high growth segment like
279. 12:48gynecology and pediatrics which
280. 12:51complement our strength.
281. 12:55Rising awareness in women's health and
282. 12:58favorable demographics support the these
283. 13:01sectors.
284. 13:04Following is the CDMO partnership
285. 13:07collaborating with global pharmaceutical
286. 13:09MNC for development and manufacturing.
287. 13:14Third number third stage is geographic
288. 13:18expansion. Our presence now spans over
289. 13:2170 countries. We look forward for
290. 13:24deepening footprints in in Europe,
291. 13:27Africa, Middle East, CAS and Asia
292. 13:32and also began new operation in Chile,
293. 13:35Colombia and Peru. Strengthen our Latin
294. 13:39American strategy.
295. 13:42Fourth pillar is driving innovation and
296. 13:44capacity expansion through focused R&D
297. 13:47establishment of the new
298. 13:48state-of-the-art facility and the
299. 13:51strategic acquisition of existing
300. 13:53facility
301. 13:55that after a strong synergies with our
302. 13:58core business
303. 14:01more than numbers what excites me is the
304. 14:05path ahead.
305. 14:07We are scaling presence in high growth
306. 14:10therapies, strengthening global pharma
307. 14:13partnerships through CTMO
308. 14:16collaborations,
309. 14:17expanding into new geographies and
310. 14:20investing heavily in innovation and
311. 14:22capacity building.
312. 14:25We integrated advanced technology and
313. 14:28artificial intelligence to drive
314. 14:30compliances, quality and operational
315. 14:33excellence. We are also aligned with
316. 14:36evolving EMA and PIX GMP guide guidance
317. 14:41specifically chapter 4 on Excel 11 and
318. 14:44the introduction of an Excel 22 ensuring
319. 14:48readiness for future regulatory
320. 14:50expansions.
321. 14:52These priority these priorities position
322. 14:55us to capture the vast opportunities in
323. 14:58the growing global population market
324. 15:03projected to reach
325. 15:06US dollar 3.32 trillion by 2034.
326. 15:10The India's population market expected
327. 15:13to cross US 48.5 billion by 2033.
328. 15:19The CDMM market in India is also set to
329. 15:22double by 2028.
330. 15:26Our confidence lies not only in
331. 15:28financial strength or market opportunity
332. 15:32but in our people. Over the past year we
333. 15:35have invested in training in training
334. 15:39digitalization
335. 15:41and fostering a culture of recognization
336. 15:44and growth.
337. 15:46We continue to support
338. 15:50communities by training
339. 15:53rural youth, upgrading healthcare
340. 15:55facilities, and improving
341. 15:57infrastructure.
342. 15:59True success we believe is measured by
343. 16:02the lives we touch, not just profits,
344. 16:05not just numbers.
345. 16:07Today in stand stronger, leaner and more
346. 16:11focused than ever. Before the growth
347. 16:16before than ever before, the growth we
348. 16:19achieved over the past 30 years had laid
349. 16:22a solid foundation. And with our
350. 16:24sharpened focus, enhanced capabilities
351. 16:28and your continued trust, we are poised
352. 16:32to achieve even greater milestone in a
353. 16:34much shorter time.
354. 16:37I'm confident that the journey ahead
355. 16:40will transform in from a strong
356. 16:43Indian player
357. 16:45into a globally recognized multinational
358. 16:48leader in pharmaceutical formulations.
359. 16:52Our new team of young and talented
360. 16:54leaders is now actively driving the
361. 16:58company forward
362. 17:00focused on shaping in future growth and
363. 17:04success. Their vision, energy,
364. 17:07dedication, position us strongly for the
365. 17:11exciting journey ahead.
366. 17:14Looking ahead,
367. 17:16we expect it to achieve a turnover of
368. 17:221,000 cr plus from the operation
369. 17:25in next three financial years
370. 17:29that is by 202728.
371. 17:32This is on a conservative side.
372. 17:35with an aita of 150 cr plus again on a
373. 17:38conservative size.
374. 17:41These estimates affect the strength of
375. 17:43our product portfolio,
376. 17:45the increasing contributions from
377. 17:48exports and our focus on operational
378. 17:50excellence.
379. 17:52As performance continue to improve, the
380. 17:55board will always explore opportunity
381. 17:58avenues of rewarding our shareholders.
382. 18:01We remain optimistic that in the coming
383. 18:04years the company's financial staff will
384. 18:07provide opportunities to share value
385. 18:10creation with you in a suitable form.
386. 18:15In the end, I thank you all for being
387. 18:17part of this extraordinary journey.
388. 18:19Together, let us script the next chapter
389. 18:23of the institute story. Thank you. Thank
390. 18:26you.
391. 18:28>> Thank you, sir.
392. 18:30I I now proceed with the agenda items as
393. 18:35the notice has already been circulated
394. 18:37to the shareholders. It is being taken
395. 18:39as read as the meeting is being convened
396. 18:41through video conference today. So the
397. 18:43resolutions have already been put to
398. 18:45vote through remote voting and the
399. 18:47requirement to propose and second a
400. 18:49resolution is not required. I will now
401. 18:52brief you about the resolutions that
402. 18:54have been proposed for the approval of
403. 18:55the shareholders in the notice of the
404. 18:57annual agenda meeting. First item on the
405. 18:59agenda is to receive, consider, approve
406. 19:01and adopt the audited financial
407. 19:03statements including the consolidated
408. 19:05financial statements for the financial
409. 19:07year ended 31st March 2025 together with
410. 19:10the directors and auditors reports
411. 19:11there.
412. 19:13Item number two is to appoint a director
413. 19:15in place of Mr. Ishamea director who
414. 19:17retires by rotation under the provisions
415. 19:20of the companies act 2013 and being
416. 19:22eligible offers himself for the
417. 19:24appointment. Item number three is
418. 19:27reclassification ratification of
419. 19:29remuneration payable to the cost
420. 19:30auditors for the financial year 202526.
421. 19:34Item number four is to appoint
422. 19:36secretarial auditors for the secret
423. 19:38secretary audit of the company for a
424. 19:40period of next 5 years. Item number five
425. 19:43is to appoint Shiris Subod Gupta as an
426. 19:46independent director of the company for
427. 19:47a period of 5 years. Item number six is
428. 19:50to appoint Sharipad Kurana as an
429. 19:52independent director of the company for
430. 19:54a period of 5 years.
431. 19:57Item number seven is to prove related
432. 19:59party transaction under section 1881
433. 20:02of the companies act 2013 for
434. 20:04appointment of Dr. Gopal Munjal at place
435. 20:07of profit. Item number eight is to
436. 20:10approve related party transaction under
437. 20:12section 1881 of the company's act 2013
438. 20:15for appointment of Mr. Ser metha at the
439. 20:17place of profit. Item number nine is to
440. 20:20approve related party transactions under
441. 20:23section 1881 of the companies act 2013
442. 20:26for appointment of Dr. V metha at a
443. 20:28place of profit and these were the items
444. 20:31proposed in the notice of the annual
445. 20:33general meeting. We are through with the
446. 20:35agenda items as given uh above. I will
447. 20:38now call out the name of the people who
448. 20:41have registered themselves as speaker.
449. 20:43We have nine registered speakers with
450. 20:45us. They will be unmuted and will be
451. 20:47allowed to ask questions one by one.
452. 20:49Members who have not registered
453. 20:51themselves as speaker but still want to
454. 20:52ask any question may do so by posting
455. 20:55questions in the chat box available on
456. 20:57their screen. We will respond to all the
457. 21:00queries by the speaker shareholders and
458. 21:01the queries received in the chat box in
459. 21:03one go. In the interest of the time I
460. 21:06request all the speaker shareholder to
461. 21:07please keep the question in brief and do
462. 21:10not repeat the question which has been
463. 21:11asked by their fellow members. I also
464. 21:13request them not to take more than 3
465. 21:15minutes. I now request the admin to
466. 21:17please unmute Mr. Rishabar Jan the first
467. 21:20speaker the register speaker so that he
468. 21:22can express his views or ask questions.
469. 21:26Admin
470. 21:28do we have Mr. Rishab Jan
471. 21:33>> not available.
472. 21:35>> How many attendees are there?
473. 21:38>> No one sir.
474. 21:40>> Either Mr. Ankut next speaker is Mr.
475. 21:43Ankuch Chandra
476. 21:46>> not available.
477. 21:48>> Okay. Mr. Gondaluru
478. 21:53>> not available.
479. 21:55>> Mr. Gagan Kumar
480. 21:57>> not available.
481. 22:00>> Okay. Mr. Rakkesh Kumar
482. 22:04>> not available.
483. 22:06>> Six speaker is Mr. SUV J Singh
484. 22:10>> not available.
485. 22:13>> Seventh is Mr. Mang Singh
486. 22:16>> not available.
487. 22:18>> Eighth speaker is Mr. Surindra Kumar
488. 22:20Aurora
489. 22:22>> not available.
490. 22:24>> And the last speaker is Mr. Pvvin Kumar
491. 22:28>> not available.
492. 22:30>> So they have not attended. they have
493. 22:32sent the request for uh asking the
494. 22:35queries but I'm not sure there so
495. 22:41so this brings us to the end of this
496. 22:42meeting I would now like to hand over
497. 22:44the proceeding backs to our honorable
498. 22:46chairman sir
499. 22:49>> okay uh I would like to express my
500. 22:53heartfelt gratitude toward all the
501. 22:55shareholders of the company for taking
502. 22:58out valuable time and participating in
503. 23:01this
504. 23:04uh taking this opportunity, I would also
505. 23:07like to extend my best wishes to all the
506. 23:09shareholders, customers and employees
507. 23:12across all our locations as well as my
508. 23:15colleagues and their families on this
509. 23:18kayan of the upcoming Diwali festivals.
510. 23:22May this Diwali bring joy, good health,
511. 23:24prosperity and success to you and your
512. 23:27loved one. With this now I formally
513. 23:31conclude the proceeding of the AGM
514. 23:34handing over to
515. 23:36>> Thank you sir. I would now like to
516. 23:39remind the members who have not voted or
517. 23:41resolutions through the remote e voting
518. 23:43facility to cast their votes on the CDSL
519. 23:45e voting system. The detailed process of
520. 23:47voting is mentioned in the AGM notice.
521. 23:49The e voting will be disabled after 15
522. 23:52minutes from the time of closure of this
523. 23:53meeting. I now formally propose a vote
524. 23:56of thanks to the chair. I thank you all
525. 23:58once again for being with us this
526. 24:00morning and attending this. Thank you
527. 24:02all. Thank you.
528. 24:04>> Thank you.
529. 24:04>> Thank you.
530. 24:06>> Thank you.
531. 24:06>> Thank you.
532. 24:07>> Thank you so much.
533. 24:08>> Thank you.
534. 24:09>> Thank you.
535. 24:13>> We are offline.
536. 24:15Okay.