About This Report

“AT PIRAMAL ENTERPRISES, CREATING VALUE FOR ALL STAKEHOLDERS, INCLUDING OUR SHAREHOLDERS HAS BEEN A DEFINING ELEMENT OF OUR IDENTITY. OVER THE PAST 29 YEARS, SINCE THE ACQUISITION OF NICHOLAS LABORATORIES, WE HAVE DELIVERED ANNUALISED SHAREHOLDER RETURNS OF 30%, A MILESTONE VERY FEW INDIAN COMPANIES HAVE ACHIEVED.

The consistency of our performance is the outcome of an integrated value creation model, wherein multiple parameters and metrics work in tandem with financial and operating performance to realise sustainable growth for the long-term.

Our performance is underpinned by a values-driven culture, efficient capital allocation, strong corporate governance and an entrepreneurial spirit. We are in a state of continuous transformation through a strong drive for innovation, while remaining focused on talent development, quality, compliance and effective risk management.

Our unblemished track record and our integrity in dealing with stakeholders are key factors that inspire multiple global collaborations with reputed partners, across our businesses.”



Forward-looking statement

In this Annual Report, we have disclosed forward-looking information to enable investors to comprehend our prospects and take investment decisions. This report and other statements - written and oral - that we periodically make, contain forwardlooking statements that set out anticipated results based on the management’s plans and assumptions. We have tried, wherever possible, to identify such statements by using words such as ‘anticipate’, ‘estimate’, ‘expect’, ‘project’, ‘intend’, ‘plan’, ‘believe’, and words of similar nature in connection with any discussion of future performance. We cannot guarantee that these forward-looking statements will be realised, although we believe we have been prudent in our assumptions. The achievements of results are subject to risks, uncertainties and even inaccurate assumptions. Should known or unknown risks or uncertainties materialise, or should underlying assumptions prove inaccurate, actual results could vary materially from those anticipated, estimated or projected. Readers should keep this in mind. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.