Unichem Laboratories, a Rs 650-crore pharma company from Mumbai, India has suffered a minor setback during the first quarter ended June 2009 and its net profit declined to Rs 32.39 crore from Rs 33.38 crore in the corresponding period of last year. Its net sales also declined by 7 per cent to Rs 167.61 crore from Rs 180.16 crore. The board of directors recommended equity dividend of 80 per cent for the year 2008-09.
Its domestic sales declined to Rs 139.03 crore during the quarter under review from Rs 144.68 crore and its exports moved down to Rs 30.30 crore from Rs 36.86 crore in the similar period of last year.
Addressing the 46th Annual General Meeting of the shareholders, Dr Prakash Mody, chairman and managing director, said, "The company is setting up a formulation plant at Sikkim and same will go stream in next year. It will basically cater to Eastern and North Eastern market."
At Baddi (Himachal Pradesh) formulation plant, the company completed the third large formulation plant for cephalosporin at an investment of Rs 42 crore and added one more plant for soft gelatine capsules at this site, he pointed out.
The company has filed 247 DMFs (Drug Master Files) in various countries so far. It has set up bioscience R&D pilot plant and new training centre, QA/QC lab and pharma technology development lab at its Goa facility. "All these additions will make our Goa facility a truly one of its kind and state-of-the-art comprehensive formulation and bio-science facility in the country," Mody added.
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