Ind-Swift Labs net spurts 251.26%, turnover up by 81.76
pc in Q1 of FY 2005-06
Puts three new units to operation
Ind-Swift Laboratories Limited has posted a growth of 251.26 per
cent in its net profit that surged from Rs.28.60 Million to Rs.100.44 Million during
the first quarter of the fiscal 2005-06, on a sales turnover of Rs.799.74 Million,
up 81.76 per cent from Rs.440.00 Million as compared to the corresponding quarter
of the last year. With this, the earnings per share (EPS) for the quarter too has
shot up from Rs.1.83 to Rs.5.46 per share on the expanded capital base of Rs.184
Million.
During the quarter, exports to soft regulated markets contributed 39.44 per cent
to the company’s turnover. The company has put to operation three new manufacturing
facilities covered under its Rs.1 bn expansion plans all of which confirm to USFDA
Standards and other GMP Guidelines, said V.K Mehta, Jt. Managing Director of Ind-Swift.
These facilities comprises of a facility to manufacture Statins (Installed Capacity
of 40TPA), a new dedicated facility for an Anti-Histamine drug (Installed Capacity
of 27TPA) and a new API facility in Tax Free Zone of Samba, Jammu in the state of
J&K (Installed Capacity of 50TPA).
The Company’s new state of art R&D Center at Mohali in the state of Punjab
equipped with latest equipments and gazettes is nearing completion and will be put
to operation in the current quarter. The New R&D center facilitates development
of non-infringing processes, to generate data as per ICH guidelines and to prepare
DMFs in CTD format for US and other regulated markets. Company expects a big boost
in its R&D efforts, as it would augment company’s efforts to tap regulated
markets and step up DMF filings.
Under its on-going expansion plans, the company put a new low volume high value
facility, strictly as per USFDA norms to operation and with this the company has
now nine manufacturing units situated as two different locations.
To know about our Formulation Division, please visit us at Ind-Swift Limited, our other
group company.
