Advanced molecular research facility ready by June 2006

Hyderabad, Apr 24 (UNI) Vimta Labs, a leading quality testing and standardisation organisation, today announced that its new Life Sciences Facility at the S P Biotech Park in Genome Valley on the outskirts here was nearing completion.

As a part of the expansion plans Vimta has initiated setting up of advanced molecular research facility comprising genomics and proteomics. ''This facility is expected to be fully commissioned by the end of this quarter''. It will have customer specific laboratories to meet global outsourcing demands and is shaping up as a world class Research Process Outsourcing (RPO) facility. The facility can employ 1000 scientists.

The company has posted a Gross Revenue of Rs 55.06 crore with EBITDA of Rs 25.78 crores and profit after tax (PAT) of Rs 13.5 crore. ''The year 2006-07 is expected to match the growth rates already experienced by Vimta during 2000 to 2005''.

With the current growth plans in place Vimta's revenues are estimated to be in the range of Rs 90 to Rs 100 crore with EBITDA of 46-50 % and PAT of 23-27%. The envisaged inorganic growth plans on materialisation are likely to supplment revenues. Company's Chairman and Managing Director Dr S P Vasireddy said after a meeting here of the Board of Directors which recommended a 40 % dividend to the shareholders.

UNI DB VV ADB1910