Q1 2021 Torrent Pharmaceuticals Ltd Earnings Call Transcript
Ladies and gentlemen, good day, and welcome to Torrent Pharmaceuticals Limited Q4 FY '20 (sic) [Q1 FY '21] Earnings Conference Call. We have with us today Mr. Sanjay Gupta, Executive Director, International Business; Mr. Sudhir Menon, Chief Financial Officer; and Mr. Aman Mehta, Chief Marketing Officer, India business. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Mr. Sanjay Gupta. Thank you, and over to you, sir.
Thank you, Nirav. Good evening, everyone. Thank you for joining us. I would like to begin now with a few comments on our Q1 operating environment. Starting with demand. Pharma markets saw negative growth during Q1 2021 as compared to strong growth rates in Q4 of last fiscal year. In India, the overall market declined by 6% in Q1 as compared to a growth of 9.8% in Q4 of last year. However, inside this 6% decline, there are 2 trends that gave us reasons for optimism. Firstly, the chronic
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