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Granules India Ltd will be setting up a manufacturing facility for Active Pharmaceuticals Ingredients (APIs) at Visakhapatnam.
“This will be a Greenfield project as part of our plans to ramp up APIs capacity from existing 20,000 tonnes to 40,000 tonnes over next two years,” Mr C. Krishna Prasad, Managing Director, Granules India Ltd, told Business Line here.
The Hyderabad-based tablet-maker already has land in Jawaharlal Nehru Pharma City in Visakhapatnam and is working on the investment needs for the proposed project.
In addition to APIs, the Rs 476-crore company (2010-11), has also lined up an immediate expansion of its finished dosages and granulation capacities.
“We are investing about Rs 80 crore in this capacity augmentation programme. The money will come from internal accruals and debt,” Mr Prasad said.
The tablet making capacity would be six million tables per year to 18 million tablets. “The granulation capacity too will go to 18,000 tonnes from existing 8,000 tonnes,” Mr Prasad added.
The reason for expansion on all operative segments was to have “complete self-reliance and total leadership”, he added.
During the present year, the revenue and profits were expected to grow by 20-25 per cent.
Granules' scrip increased 0.67 per cent to end at Rs 82.05 on the Bombay Stock Exchange on Thursday.
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