Usha Sharma – Mumbai
The Rs 677-crore Mumbai-based Ajanta Pharma has chalked out investment plans, to the tune of Rs 400 crore. The company will invest this amount to set up two manufacturing facilities in Gujarat. It aims to commission both the facilities by 2014. The required funds will be arranged partially from internal accruals and term loans.
Arvind Agrawal, CFO, Ajanta Pharma said, “We are setting up two different manufacturing facilities one for the regulated market at SEZ Dahej and other for the domestic and international market at Savli Industrial Area near Vadodara. We have planned to invest Rs 200 crore each for the facilities. The facility for the regulated market is going to be one and half times bigger than our existing facility.”
The company has five state-of-the art manufacturing facilities in different locations across India and a presence in anti- malarial, cardiology, dermatology, gastroenterology, musculoskeletal, ophthalmology and respiratory segments.
From the new facility, the company will continue to manufacture tablets, capsules, liquids, powder, lotions for the existing therapeutic areas. Every year, the company launches 15-20 new products in these existing segments.
Sharing details about the products in the pipeline, Agrawal said, “There are many products in the pipeline, which are at various stages of completion. We are also working on ANDAs for the US market. Already, we have filed seven ANDAs and are in the process of filing five to six more ANDAs this year.”
Currently, the company employees 3,900 people and after expansion, it plans to recruit 300 more. It is present in 30 countries. “Recently, we have shipped our first consignment to the US and very soon our products will be available in the US market. We will continue to focus on the existing markets. At this moment, we do not have plans to explore other geographic locations,” Agrawal added.
During financial year 2011-12, the company touched a turnover of Rs 677 crore and with a growth projection of 23 per cent, is slated to register revenues of Rs 830 crore in 2012-13. It is aiming to have a turnover of Rs 1,000 crore by 2014-15.
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