Orchid Chemicals' new initiatives

Orchid Chemicals and Pharmaceuticals has chalked out a business plan that encompasses diversification in bulk actives, in terms of both products and markets, business expansion in formulations and innovation based activities such as advanced chemical research, drug discovery and biotechnology.

According to Mr. K. Raghavendra Rao, Managing Director, nine premium bulk active molecules and six high-end formulations were in the pipeline for launch during the financial year.

Meanwhile the company has reported a turnover of Rs. 88.87 crores in the quarter ended June 30, 2001 against Rs. 87.84 crores and the gross profit before depreciation and interest charges stood at Rs. 23.35 crores against Rs. 22.67crores in the same period in the previous year. The bulk actives business contributed Rs. 84.20 crores and the formulations business Rs. 4.67 crores.

Interest charges claimed Rs. 7.89 crores (Rs. 7.28 crores) and depreciation Rs. 8.24 crores (Rs.8.20 crores)The net profit after taxation has declined to Rs. 7.22 crores from Rs. 9.19 crores. The company produced and sold 166 tonnes of bulk drugs during the period under reference.

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Section  : Business
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