Cipla plans Rs 2,000-crore capex by FY 10
Pharmaceuticals major Cipla Ltd has drawn up a Rs 2,000-crore capex plan over the next two years, a top company official said on Thursday.
By PTI |
MUMBAI : Pharmaceuticals major Cipla Ltd has drawn up a Rs 2,000-crore capex plan over the next two years, a top company official said on Thursday.
"We will spend Rs 2,000 crore by FY 10. Significant investments have been made and utilised in expansion of facilities and creation of new plants," Cipla Chairman and Managing Director Y K Hamied told shareholders while addressing the company's 72nd annual general meeting here.
"We will continue to pursue an aggressive expansion policy to cater to the increased volume growth, both locally and internationally," Hamied said, adding the company expects a 12-15 per cent growth in sales in FY 09.
"Today, we provide pharmaceutical know-how, transfer scientific technology, train paramedics and provide patient eduction. Our products are present in over 99 per cent of all pharmacies in our country."
Investments of Rs 100-150 crore each have been made in the Patalganga and Kurkumbyh units. Over Rs 30 crore has been invested in Bangalore while Rs 200 crore has been invested in a plant in Sikkim which is already in production.
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He said Rs 800 crore will be spent on its new facility at the Indore SEZ plant. "We will endeavour to maintain our leading position in the domestic market and also keep up the momentum on the export front. Exports will go up to 60 per cent from the present 50 per cent." According to him, the present norm in the pharmaceutical industry is mergers and acquisitions. Cipla is the largest generic stand-alone pharmaceutical company, whose growth has been totally organic.
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