Ind Swift starts operations at Rs 40 cr

Shimla, Apr 14: Ind Swift has started operations at its Rs 40 crore manufacturing facility in Himachal Pradesh for manufacturing tablets, injectibles and liquids.

Ind Swift Director V K Mehta, in a release here, said the new unit would manufacture 180 crore tablets per annum, 12 crore ampoules per year, six crore vials per annum and 12 crore syrups.

He said the Baddi unit built as per the FDA standards would be inspected by TGA and MHRA and was eligible for tax exemption available to industrial units set up at Baddi in Solan district of the state.

''We expect the new unit to generate an additional revenue of Rs 160-175 crore with 10-12 per cent net profit margins in next three years,'' he said.

Mr Mehta said the company recently purchased seven acres of land in the tax free zone of Baddi for setting up a new formulation facility for manufacturing Oncology, Cephalosporin's, Beta Lactum, Herbal and Neutraceutical products.

With the commissioning of the Baddi project, the company would strengthen its position in the anti-bacterial, anti-diabetic, cardiovascular, hyperlipidemic, antifungal antihistamine, antidepressant, anti ulcers therapeutic segments, he said.

UNI