Indian Medicines Pharmaceutical Corporation Ltd. (IMPCL), a mini-ratna public sector undertaking (PSU) of department of AYUSH, is gearing up for a facility upgradation and modernisation project to increase its production capacity. With this upgradation, the company is aiming for a sales revenue of Rs 30 crore. The company, which registered a decrease in sales last year, is expecting a turnaround in sales in the months ahead.
AYUSH has allocated a share capital of Rs 5 crore to set up new building and automated drug-manufacturing facilities for the PSU. IMPCL, with total assets worth of Rs 2.20 crore, will soon set up a new building for Rs 3 crore with automated machineries of Rs 2 crore. The company was incorporated in July, 1978 and started its commercial production in June, 1983.
The construction of the new building will start soon, according to sources from the company. The project is yet to be cleared by the director board, which is expected to meet soon. "With this expansion, we would be able to increase our presence in the PSU sector. In the current financial year, we are targeting sales of Rs 14 crore, for which the operations are on advanced stage," said Pramod, company secretary, IMPCL.
According to the annual report 2006-07 of Ministry of Health and Family Welfare, the turnover of IMPCL during the last four years up to 2005-06 reveals a turn around for the company registering more than 30 per cent growth rate. However, the company which recorded 39 per cent growth in 2003-04 and a growth of 35 per cent in 2005-06, has marked a meagre five per cent growth in the last financial year, with a total sales turn over of Rs 8.84 crore.
However, the ministry report comments that "The company has been earning profit consistently since 1986-87," and the sales is expected to shoot up with the increase in production capacity. The company's main purchasers are the government healthcare centres. The inclusion of AYUSH drugs in National Rural Health Mission (NRHM) from the 11th five-year plan is expected to benefit the company soon, according to sources.
The company is also planning to join with national laboratories of Council for Scientific and Industrial Research (CSIR) for collaborative state of the art research project. A project, standardization and modernization of Ayurvedic formulations using modern technique, will be carried out with Regional Research Laboratory, CSIR, Jammu.
The company has recently conducted a project study on quality assurance and validation of some Ayurvedic formulations for life-style related and gynaecological disorders, in collaboration with Indian Institute of Chemical Technology, CSIR, Hyderabad in March 2005.
The primary objective of the company is to manufacture and supply authentic quality Ayurvedic and Unani medicines in accordance with classical/textual directions. At present IMPCL is manufacturing 185 Ayurvedic and 95 Unani medicines.