Alpa Lab to set up plant at Pigdamber
ALPA LABORATORIES Ltd, the Indore-based pharmaceutical formulations company, is setting up a new plant at Pigdamber near Indore at a cost of around Rs 43 crore. The project is scheduled for completion by March 2008.india Updated: Dec 31, 2006 01:47 IST
ALPA LABORATORIES Ltd, the Indore-based pharmaceutical formulations company, is setting up a new plant at Pigdamber near Indore at a cost of around Rs 43 crore. The project is scheduled for completion by March 2008.
A senior company official told Hindustan Times that the implementation of the proposed expansion would enable them to diversify into a growing market for drugs used in lifestyle disorder segments like diabetes and cardiology. The company is in the process of acquiring about nine acres of land at Pigdamber village where it will construct manufacturing facilities on block system.
The company is mainly adding capacities in the production lines of liquid injections, dry powder injections, tablets, capsules and ointments. Post expansion, the capacity in all these segments will reach 63.57 lakh units per day from the present capacity of 25.32 lakh units per day.
The company is planning to construct six blocks and each of these blocks will have a service floor on the first floor as provision for air conditioning, air handling, steam and gases dispensation along with water for injection dispensation on the manufacturing floors.
The project will be funded through term loans, promoters’ contribution towards equity capital and initial public offering (IPO).
The company has already filed a draft prospectus with Securities and Exchange Board of India (SEBI) to enter the capital market with an IPO of 95 lakh equity shares of Rs 10 each through a 100 per cent book building process.
The company recorded net sales of Rs 70.55 crore (profit after taxes of Rs 4.12 crore) in the financial year 2005-06 as against the net sales of Rs 37.37 crore (PAT of Rs 1.47 crore) for FY 2004-05. For the six months ended September 2006, the net sales were Rs 49.50 crore with a PAT of Rs 3.45 crore.