Ind Swift Ltd has started operation of its new state of the art, finished dosage manufacturing facility in Baddi, Himachal Pradesh. The new facility will manufacture tablets, injectables and liquids and will be eligible for the Central Excise and Income Tax benefits available to industrial units set up at Baddi, stated a company release.
The state of the art facility, which has come up at total investment of Rs 400 million, 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.
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.
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, added the release.
"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 crore with 10-12% net profit margins in next three years," said V K Mehta, Director.
The company has overall annual manufacturing 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, claimed the release.