Bliss GVS Pharma operates in the pharmaceutical industry and manufactures vaginal contraceptives, anti-malarial drugs, anal suppositories etc. The company is in expansion mode setting up local manufacturing units as well as abroad via joint ventures. The company has reported good growth in revenues and operating profits over the last five years – reporting about 60cr of operating profits on about 220cr of revenues in the last financial year. It employed no net debt in accomplishing this performance. The company is a net exporter with lots of US$ and EUR receivables and is therefore, exposed to a strengthening INR. Moreover, it provides products that those in need may be largely unaware of – and requires larger than usual educational campaigns. It exports a substantial portion to African countries, which is subject to erratic regulations. Furthermore, the company may not be able to avail of certain specific tax benefits that it used to enjoy in the past.
An Individual Investor's Perspectives On The Indian Financial Markets