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Chairman's Message

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During the year, Team Bilcare developed various composites using combination of coating and lamination technologies including customized laminate structures and created wide range of packaging products. This addressed the explicit and implicit needs of various formulations thus creating a unique solution space and reiterated its presence as a global solution provider in the child resistant and senior friendly lidding material segment. This type of packaging coupled with the 5C approach is expected to be a point of inflexion in the domain of primary packaging for oral solids. Our customers are always at the heart of our thinking and our partnership approach to working collaboratively builds trust and strengthens our value proposition. Moving towards the international accounting standards, we adopted the Ind AS accounting standards for financial year ending March 2017. The Company is still in the restructuring & stabilization phase and the efforts have led to a comprehensive debt resolution with a majority of lenders. Going forward, the focus will be on improving the operational performance with higher margins. All efforts are being made to facilitate working capital for increased production and resultant cash flows.

On a group level we have stayed focused on the strategy of realignment of synergies, improved EBIDTA and disinvestment. This has led to a hygiene check and reduction of losses. The journey has been long and winding that resonate the Company policy of “restructuring for the better”.

I regret to share the news about the sad demise of one of our Board of Directors – Mr. Ramnarayan Venkit few days back. His ability to see beyond the normal and his humbleness were par excellence. Team Bilcare will surely miss his able guidance. I pray God to rest his soul in peace.

These are challenging times for the company yet the future has many opportunities in its store. As said by Peter F. Drucker, “The best way to predict the future is to create it”.

With this quote, I conclude by thanking you all for your continued support and trust.

 

Thank you, Ladies & Gentlemen.

Mohan H. Bhandari
Chairman & Managing Director

 
 

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