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.
