BS Awards For Corporate Excellence 2021: Samina Hamied Lauds Team Effort

An eight-member jury selected the winners of the Business Standard Annual Awards for Corporate Excellence 2021, and Mumbai-headquarterd Cipla was chosen as the Company of the Year by the stellar jury.

Upon receiving the award, Samina Hamied, executive vice-chairperson, Cipla credited her team for the top-notch performance of the drug major. Hamied said, "We at Cipla are humbled to receive the Business Standard, Company of the year award. This recognition is a testament to our Global CEO & MD, Umang Vohra who has been instrumental in transforming Cipla to a global healthcare organisation with his innovative and growth mindset coupled with a purpose-led approach. Umang has been spearheading the organisation to chart new paths, scale new heights, leading from the front in the wake of the pandemic and upholding Cipla's purpose of Caring for Life. I’m truly grateful for this incredible partnership built on the foundation of trust and care."

Mumbai-headquartered Cipla is the third-largest pharmaceutical company in India, the third-largest over-the-counter (OTC) player in South Africa, the eighth largest by prescription in the US, and the second-largest Indian exporter to the emerging markets.Established in 1935, Cipla’s revenues for 2020-21 grew 11.8 per cent to Rs 19,160 crore, while profit after tax (PAT) jumped 55.5 per cent to Rs 2,405 crore. Between FY18 and FY21, Cipla’s revenues clocked a CAGR of 8.1 per cent, and PAT grew by 19.5 per cent annually.

The company, which has seen a generational change in its leadership, draws 40 per cent of its revenues from India and 21 per cent from the US market. The South Africa region, emerging markets, and Europe contribute 18 per cent, 10 per cent, and 5 per cent, respectively.

The jury was chaired by Aditya Birla Group Chairman Kumar Mangalam Birla and included JSW Group Chairman Sajjan Jindal, KKR India Senior Advisor Sanjay Nayar, AZB & Partners Founder and Managing Partner Zia Mody, EY India Chairman Rajiv Memani, McKinsey & Company Senior Partner Noshir Kaka, Cyril Amarchand Mangaldas Managing Partner Cyril Shroff, and Bain Capital Private Equity Chairman Amit Chandra.

On selecting Cipla as the Company of the Year, Shroff said the performance had been outstanding and there were several other interesting aspects as well in view of the contribution to the health care sector, particularly during the pandemic. “The fact that the generational transition was so smooth, so it was quite an iconic performance and it was a pleasure for the jury to select Cipla,” Shroff said.

All jury members agreed that while financial ratios were important for making the first cut, equal importance had to be given to individuals who focused on innovation and built institutions when challenges in the external environment were severe due to restrictions imposed by the governments to control the pandemic.

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor