ABBOTT INDIA LIMITED
ANNUAL REPORT 2022-23
LEADING
TO MAKE A DIFFERENCE
LEADING
TO MAKE A DIFFERENCE
Our purpose at Abbott is to help people live more fully through good health. We do that through our life-changing products, solutions, and technologies. We strive each day to make a difference by creating a healthier, more resilient world and a sustainable future through all that we do.
Being at the forefront of healthcare evolution, we understand that true leadership is making a difference in the lives of the people we serve, and it goes beyond business success. We leverage our industry leadership to drive meaningful change by proactively driving a positive and lasting impact in the communities we serve.
Through our unwavering focus on breakthrough innovations, we strive to redefine the boundaries of possibility and explore new frontiers in healthcare management. We empower healthcare professionals to deliver quality care and patients to access quality treatment throughout their health journey.
We care about and value our employees. Our common purpose and mission is to provide our workforce with the opportunity to change people's lives for the better while living their best lives personally and professionally. We do this by offering development opportunities and differentiated benefits that provide security for themselves and their families.
We lead with integrity and purpose to continue strengthening our legacy. We are aware that our actions today will have an impact tomorrow.
Therefore, we are continuously working towards shaping the future of healthcare that allows us to make a difference in the lives of all our stakeholders.
Contents
About Us
- Abbott India at a Glance
- Product Profile
- Our Investment Case
- Chairman's Message
- Managing Director's Message
Our Performance
- Key Performance Indicators
- 10 year Financial Highlights
- Our Business Model
Inspiring Positive Change
- Customer Centricity
- People
- Community
- Environment
Governance
- Ethics and Compliance
- Board of Directors
- Senior Leadership Team
79TH
ANNUAL GENERAL MEETING
Statutory Reports
36 Board of Directors' Report and Management Discussion and Analysis
60 Business Responsibility and Sustainability Report
90 Corporate Governance Report
Financial Statements
- Independent Auditor's Report
- Balance Sheet
- Statement of Profit and Loss
- Statement of Cash Flows
- Statement of Changes in Equity
- Notes to the Financial Statements
177 Notice
Date: August 9, 2023
Time: 9.30 a.m.
Through Video-Conferencing (VC)/ Other Audio-Visual Means (OAVM)
FORWARD-LOOKING STATEMENT
In this Annual Report, we might have disclosed forward-looking statements that set out anticipated results based on the management's plans and assumptions. We cannot guarantee that these forward-looking statements will be realized, although we believe we have been prudent in our assumptions. The achievements of results are subject to risks, uncertainties, and inaccurate assumptions. We undertake no obligation to publicly update any forward- looking statements, whether as a result of new information, future events or otherwise.
References to "Abbott India" or "the Company" in this Annual Report shall mean "Abbott India Limited".
Abbott India Limited
ABBOTT INDIA AT A GLANCE
MAKING BETTER HEALTH POSSIBLE EVERYDAY
Abbott India Limited strives to make world-class quality healthcare accessible to millions of Indians. We combine global expertise with local product development knowledge to address unmet and evolving needs of the Indian healthcare market. With a focus on innovation and quality, we are redefining the healthcare landscape and empowering individuals to live
Company Overview | Statutory Reports | Financial Statements | Notice |
FY 2022-23 Highlights
Revenue | PAT | EBITDA |
₹ 5,349 Crores | ₹ 949 Crores | ₹ 1,360 Crores |
8.9%* | 18.9%* | 16.7%* |
Return on Average Capital | Earnings per Share | Dividend for the year |
Employed | ₹ 446.78 | ₹ 325 |
31.6% | (including special dividend of J 145) | |
*Growth over previous year.
Therapeutic Areas
their best lives.
Abbott India Limited, a subsidiary of Abbott Laboratories, USA, is known for its high-quality trusted medicines. We specialize in various therapeutic areas including Women's Health, Gastroenterology, Central Nervous System, Metabolics, Multi-Specialty, and Vaccines.
Women's Health
We offer specialized, tailored solutions to address the key health concerns of women in India across life stages like menarche, pregnancy, and menopause.
Metabolics
We specialize in treating chronic metabolic diseases like hypothyroidism, driving advancements in metabolic health through specialized therapies, improved
diagnostics, and meaningful scientific collaborations.
Abbott's citizenship programs and investments are guided by two of India's most pressing social challenges which are lack of access to quality and affordable healthcare and inadequate education infrastructure and resources to prepare the workforce of tomorrow. We aim to address these through scalable and sustainable solutions. With a dedicated and talented workforce, we ensure the availability of our medicines to all those who depend on them.
Gastroenterology
We offer a comprehensive range of innovative gastrointestinal products for the upper and lower gastrointestinal tract and liver conditions. Along with products, we also offer beyond-the-pill solutions.
We also have key OTC (Over The Counter) (antacid) products in various formats (liquid, gel, powder, On the Go pack) in this portfolio.
Central Nervous System
We provide differentiated solutions for central nervous system diseases such as vertigo, epilepsy, migraine, and depression with the goal of minimizing their impact on life.
Multi-Specialty
Our products in this portfolio help address various health conditions like headaches, sleep disorders, and nutritional deficiencies. We provide specialized solutions for pain management, nutritional supplements, and vitamins in different formats.
Vaccines
Focusing on effective prevention, we offer a wide
range of trusted immunology products for Influenza,
Typhoid, Diarrhea, Japanese Encephalitis, and Hepatitis A.
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Abbott India Limited
PRODUCT PROFILE
UNBLOCKING LIMITLESS
POSSIBILITIES
Abbott India's leading products; most of these are at the top ranks (#1 or #2) in their Respective Participated Markets*
Key Products
• Arachitol (Vitamin D deficiency) | • | Cremaffin (Constipation) | • | Librax (Irritable bowel disease) | |
• | Cremaffin Plus (Constipation) | • | Zolfresh (Insomnia) | • | Brufen (Analgesics) |
• | Pankreoflat (Indigestion) | • | Heptral (Liver disease) | ||
• Influvac (Prevention of influenza) | • Duphaston (Miscarriage and IVF) |
New Product Launches
• Thyronorm 200 mcg (Hypothyroidism)
• Cremagel-L (Anal fissures)
• Solfe Extra (Iron deficiency anemia)
• Brufen P (Pain and fever)
• Digeraft Plus (Gastroesophageal reflux)
*Source: IQVIA - MAT March 2023
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Company Overview | Statutory Reports | Financial Statements | Notice |
• | Digene (Antacid) | • | Ganaton (Gastrointestinal dysmotility) | • | Colospa (Irritable bowel disease) |
• | Duvadilan (Preterm labor) | • | Thyronorm (Hypothyroidism) | • | Udiliv (Cholestatic chronic liver disease) |
• Prothiaden (Pain & depression) | • | Duphalac (Constipation) | |||
• | Creon (Pancreatic insufficiency) | • | Vertin (Vertigo) |
• Linorma T3 (Hypothyroidism)
• Cetropro (IVF)
• Femoston Mini (Postmenopausal symptoms)
• Cortirowa OD (Ulcerative colitis)
• Digeraft XT (Gastroesophageal reflux)
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Abbott India Limited
OUR INVESTMENT CASE
Company Overview | Statutory Reports | Financial Statements | Notice |
ADDING VALUE, DELIVERING RETURNS
New Product Launches
We continuously identify the evolving gaps in healthcare and accordingly, diversify into new therapeutic areas to introduce new products that specifically address those unmet needs.
Focus on International Business
We have established operations in these four countries: Nepal, Sri Lanka, Maldives, and Bhutan. We are actively expanding our business in these neighboring countries and increasing our footprint to continue to serve people who rely on our quality products.
At Abbott India, we prioritize purpose, profitability, and progress equally to achieve sustained success. Our proven scientific expertise, comprehensive and diversified solutions, and attractive value proposition for all our stakeholders provide a solid foundation for market-beating growth and high-risk-adjusted returns.
During FY 2022-23, we introduced 10 new products in various therapeutic areas, Women's Health, Gastroenterology, Metabolic, and Multi-Specialty.
Empowered Field representatives
We have a highly dedicated and passionate sales force who form over 80% of our total workforce. They engage with the medical fraternity and are committed to making a positive impact on the ground. Additionally, our continuous upskilling culture and development opportunities and effective digital tools enable and empower them for seamless and real-time engagement with stakeholders.
Strong Partnerships
Diversified Product Portfolio
We provide a wide variety of products to meet diverse health needs. Our comprehensive portfolio covers multiple therapeutic categories such as Women's Health, Gastroenterology, Neurology, Thyroid, Pain Management, Vitamins, and Vaccines.
125+ | 10 |
Products in portfolio | New products |
introduced in the | |
year across different | |
therapeutic areas |
High-Quality Manufacturing
Our state-of-the-art manufacturing plant in Goa enables us to deliver world-class quality and trusted products, which act as a key differentiator and provide a competitive edge in building trust- based relationships with doctors and patients.
20.1%
of Net Sales is manufactured in Goa
Robust Financials
Our business model has continuously demonstrated its strength by delivering robust growth year after year. We have delivered double- digit EBITDA and net margins consistently, thus demonstrating our financial strength, resulting in sustainable value creation for shareholders.
8.8%
Revenue from Operations 10-year CAGR
15.7%
EBITDA
10-year CAGR
Over the years of serving patients in India, we have created a robust network of trusted partners. Our valued partnerships include our distributors, institutions, and healthcare professionals. The recent pandemic resulted in some unprecedented ways
to come together and deliver results with speed and scale. We continue to build our network of trusted partners to maximize our value offerings.
Widespread Robust Distribution Network
We take pride in building a resilient and highly effective distribution network. With a vast network of stockists and a widespread presence amongst millions of retailers, we ensure that our quality products and solutions reach our valued customers
promptly and efficiently.
This extensive distribution network connects us with our patients, enabling us to provide them with the care and support they need. Moreover, it acts as a strong feedback channel, allowing us to gather useful insights from our retailers and customers regarding
Industry-Leading Growth
We have consistently delivered above-market growth. Our top 15 brands are market leaders in their respective segments, accounting for over 80% of our revenue.
6* | 11* |
Brands in top 100 | Brands in top 300 |
*Source: IQVIA - MAT March 2023
16.9%
PAT
10-year CAGR
15.0%
Book Value per Share 10-year CAGR
our products and solutions.
8,100+ stockists enabling us to reach a wide customer base.
3,100+ sales colleagues are making a difference by consistently engaging with the medical fraternity.
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Disclaimer
Abbott India Limited published this content on 14 July 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 July 2023 15:10:03 UTC.