RPG Life Sciences Appoints Ashok Nair as Managing Director
Date
11/10/2024 8:48:21 AM
(MENAFN- Adfactors PR) Bengaluru, 8 November 2024: After successfully leading RPG Life Sciences for over six years, Yugal Sikri, the Managing Director of the company, will superannuate at the close of business hours on April 30, 2025. Under Yugal’s leadership, the Company witnessed a remarkable transformation and stellar overall performance across all business segments leading to uninterrupted y-o-y upward growth trajectory in all key financial parameters and a benchmark performance in the comparator companies. EBITDA increased fourfold with EBITDA margin going up by 1,290 basis points; PAT grew by eightfold with PAT margin increase of 1,180 basis points; ROCE surged by 2,130 basis points; and ROE rose by 1,670 basis points. The Company became debt-free generating surplus not only to fund the modernization and capacity expansion of both its plants but also to fund future growth opportunities.
As a result, the Company’s market capitalisation grew ~15x in five years, beating Sensex and BSE Healthcare Index growth manifold. The Company won several industry accolades and featured in ‘India’s Top 500 Value Creators 2023’ publication by ‘Dun & Bradstreet’ that listed corporate India's most influential value creators from diverse sectors.
To facilitate smooth and structured transition, Ashok Nair is appointed by the Board on the recommendation of the Nomination and Remuneration Committee as Managing Director (Designate) of the Company w.e.f. January 7, 2025. He will assume office of Managing Director w.e.f. from May 1, 2025, subject to necessary approval by the shareholders of the Company.
Ashok is an established healthcare leader with 39 years of experience and successful track record of building new businesses and turning around existing ones. He has worked with a broad spectrum of companies, from mature ones to healthtech startups. His last corporate role was as the Managing Director of Abbott Primary Care. Through his long career, he worked with leading pharmaceutical companies such as Abbott, Torrent Pharma, Sun Pharma and Cipla; in areas such as sales, marketing, commercial and product management. He was also involved in formulating policy under the aegis of various industry bodies.
More recently, Ashok was a Co-Founder of WatchYourHealth, a B2B healthtech startup since June 2023. He also advised PE firms on healthcare topics.
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