RPG Life Sciences aims to more than double its turnover to Rs 400-crore by FY 12 and has rejigged its business strategy towards the formulations business, a top company official said.
“From a turnover of Rs 131-crore in FY 08, we aim to more than double it to Rs 400-crore by 2012. This will be fuelled by investments in R&D, broadening our product portfolio and a strategic shift in our focus towards our formulations business,” RPG Life Sciences Managing Director Arvind Vasudeva told PTI in Mumbai.
The company is targeting a more than 10 per cent growth, both in its top line and bottom line, in FY 09 as compared to the previous fiscal.
Having earmarked a capex of Rs 100-crore over the next five-years, RPG Life Sciences, a part of the diversified Harsh Goenka-led RPG Group, is aiming for an 18-20 per cent growth over the next 3-5-years.
The funds, mostly drawn up from internal accruals, will be used to set up a capsulation facility, add capacities including one more formulation block, upgrade its existing facilities at Ankleshwar in Gujarat and Vashi near Mumbai, and broaden its product portfolio, Vasudeva said.
“We might look for a strategic partner for our bio-tech business,” RPG Enterprises President and CEO- Speciality Sector A S Chouhan said.