BLISS GVS manufacturers wide range of Pessary Formulations, Suppository Formulations, Calcium Preparation, Protein Powders, Iron Preparation, Antibiotics, Analgesic & Antipyretics, Respiratory, Anti-inflammatory, Dermatological Preparations, Anti-Diarrhoeal products and Today 'contraceptives'.

Zydus Cadila also does Pessary and Suppository formulations and hence a competitor .

There is an old article from Outlook India which can be found on searching Google Books that provides details. The article indicates their main market is in Africa and anti malarial drugs constitute highest percentage.

CMP 39.7
MCap 410
PE 9.83

ROCE
FY09 51.4
FY08 75.9
FY07 36.2
FY06 42.6
FY05 20.2

RONW

FY09 47.0
FY08 79.0
FY07 27.5
FY06 29.2
FY05 12.2

Sales
FY10 168.87
FY09 133.27
FY08 102.66
FY07 62.90
FY06 5.95
FY05 4.60
FY04 3.40 

Net Profits
FY10 41.72
FY09 37.45
FY08  33.70
FY07 3.84
FY06 1.18
FY05 0.42
FY04 0.30

EPS
FY10 4.04
FY09 3.61
FY08 3.26
FY07 0.38
FY06 0.19
FY05 0.07
FY04 0.04

Debt is negligible at 0.04 DE ratio and is a dividend paying co. OPM range aroung ~30%.
In 2007 Bliss Pharma acquired GVS pharma and an open offer had been placed.

There is a mention of this in Moneylife article that TCSer posted for cos. cheating shareholders. But the tax numbers were less only for 2008 which can happen - for 2007 and 2009 numbers are much higher. And drug formulations are high unlike mentioned in this article - it needs to be compared with players like Plethico Pharma/ Venus Remedies and not with Dr Reddy’s, Ranbaxy and Cipla as the article mentions.

IDFC picked a stake in this in April. Haven't seen many recommendations or information on this.
The website seems new and their 2009 AR does not have much information or guidance.

Does anyone have more insights, the numbers look good?