Venus Remedies Ltd. posts 9.22 pc increase in annual sales

In 2021 -- 22 the company said that it had a 9.22 per cent increase in annual sales compared to sales in 2020 -- 21.

The annual sales of Venus Remedies increased from Rs 548.12 crore in FY 2020 -- 21 to Rs 598.65 crore this fiscal 2021-22 as a result of concerted efforts to build on its export orders, supply chain, distribution network and product portfolio.

The Panchkula-based company reported a 16.81 per cent increase in operating profit, which went up from Rs 53.78 crore last fiscal to Rs 62.82 crore in 2021 -- 22.

With the launch of a full-fledged consumer healthcare division, Saransh Chaudhary, President of Global Critical Care, Venus Remedies Ltd, said that we expanded the scope of our business to make it more sustainable in the long run.

We also increased our global presence in FY 2021 - 22 by entering more territories and launching more than 30 products in our existing markets.

Venus Remedies entered several new global markets such as Macedonia, the UAE, the Ghana, Rwanda, Turkmenistan, Moldova, Ireland, Cuba, Kurdistan, Kuwait and Turkmenistan and Cameroon in 2021 -- 22.

Chaudhary said the company has accelerated its efforts to consolidate its supply chain and distribution network in 2021 -- 22 to strengthen its business and give it more stability in the wake of pricing pressures caused by factors like hike in fuel prices, implications of the Russia-Ukraine war, rising API costs and disruption of the supply chain in the aftermath of Covid restrictions.

On the company's outlook for the current financial year, Chaudhary said Venus Remedies would be looking at diversification to improve its profitability, which would be aided by a more stable pricing environment this year.

He said that the company's focus on building a robust product pipeline will be complimented by the company's focus on building a balanced mix of generic and research and development-based drugs.