We attended the conference call of Bliss GVS Lld held on 14th Aug, to discuss their Q1FY19 numbers. Attached herewith are the key takeaways from the call.
Founded in 1984, Bliss GVS Pharma today has more than 33 years of expertise in Manufacturing, Marketing & Exporting of more than 250 Branded Formulations in various dosage forms, across +60 countries.
They are the largest manufacturers of suppositories and pessaries dosage form, with the largest portfolio globally available with the company . Presently the only EU GMP manufacturer of these dosage forms in India.
- Exporting to 64 countries around the world: Sub Saharan African (SSA) markets, South East Asia and portion of Russia & Central America but focusing more over SSA region.
- Significant presence in SSA markets, including the English speaking African markets (Anglophone), French West African (Francophone) markets
- Focussed on building brands in these markets, commanding leadership position across therapeutic segments
- Products sold in over 64 countries
- Increase in standalone operational revenue by 57% (QoQ)
- Increase in other Income was due to appreciation in USD.
- EBIDTA margins were 25.76%
- Increased volumes are also on account of some stock pile up, which are typical at the start of the season
- Manufacturing facilities in Maharashtra namely Palghar & Ambernath.
- 70-80% utilisation of existing capacity plants.
- Cons revenue decline of on account of step-down subsidiary being divested in Mar ‘18
- Among the world leaders in suppositories and Pessaries dosage forming one of the largest portfolios in the segment.
- Economic stability is returning to, otherwise volatile, markets like Nigeria, Ghana, Congo and Kenya resulting in good uptick to volumes
Future Strategy = New products + New geographies + New capacities + improved distribution network
Read the attached note for more details: