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| Exchange Disseminated Time | Ind Swift Ltd has announced that extending its manufacturing base in yet another tax heaven, the Company on April 10, 2006 put to operation its new State of the Art, finished dosage manufacturing facility in Baddi, Himachal Pradesh. The new facility will manufacture Tablets, Injectibles and Liquids and will be eligible for the Central Excise and Income Tax benefits available to industrial units set up at Baddi.
This is the sixth manufacturing facility of the Company and second facility which the Company has put up in the tax exempted zone. Earlier the Company has a facility in Jammu, which is also a tax free zone. The Company has recently inaugurated its 100% Export Oriented unit in Derabassi Punjab, which would cater to the Export Markets.
The state of the art facility which has come up at an total investment of Rs 400 million has all the latest machinery and equipments. The unit will have capacities to manufacture; 1800 million tablets/annum, 120 million ampoules/annum, 60 million vials/annum and 120 millions Syrups/annum.
The new facility is built as per the FDA standards and will be inspected by TGA & MHRA.
With the commissioning of this project, the Company will further strengthen its position in the Anti-bacterial, Anti-diabetic, Cardiovascular, Hyperlipidemic, Antifungal Antihistamine, Antidepressant, Anti ulcers therapeutic segments.
"The new facility will definitely give a competitive edge to the Company as we plan to pass on the excise benefits to our customers. We expect the new unit to generate an additional revenues of 160-175 crores with 10-12% net profit margins in next three years" said Mr. V K Mehta, Director.
The Company has emerged as a Pharma Company with one of the largest manufacturing facilities in India, with overall annual capacities of 7200 mn Tablets, 240 mn Capsules, 180 mn Ampoules, 120 mn syrups, 96 mn vials & 36 mn Dry Syrups.
With the setting up of this unit, the Company has also given final shape to its expansion plans, where it has invested over Rs 1000 million. The Company now has six manufacturing facilities located in four different states; two facilities are in Parwanoo (H.P.) and then one facility each in Baddi (H.P.), Panchkula (Haryana), Derabassi (Punjab) & Jammu (J&K).
To further seize the opportunities the Company has recently purchased another 7 acres of land in the Tax free zone of Baddi for setting up a new formulation facility dedicated for manufacturing the Oncology, Cephalosporin's, Beta Lactum, Herbal & Neutraceutical products. The Facility when operational will be largest in terms of capacity in the north India. |
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