Announcing the commissioning of the first phase of its first plant in Dera Bassi in Punjab, Parabolic Drugs on Thursday said it expected its revenues to touch Rs.900 crore in the next fiscal, up 25 per cent from an expected Rs.700 crore in 2010-11.
The company said it had commissioned its first of the four plants, which had come up at Dera Bassi with an investment of Rs.25 crore. Apart from the newly commissioned facility at Dera Bassi, work is going on in three more plants with an outlay of nearly Rs.75 crore.
“The newly commissioned cephalosporin (anti-biotic) facility will add another 40 per cent to our capacity. This will help us close this fiscal at around Rs.700 crore and expect the revenues to touch Rs.900 crore in 2011-12, Parabolic Drugs Director Vineet Gupta said.
With the commissioning of the new plant, the company's capacity has increased by 325 tonnes to 773 tonnes annually. The company, which got approval from the European Union for its active pharmaceutical ingredients (API) facility in July last, is also expecting a large contract manufacturing order from Europe.
The company is also eying orders from Japan and is in the process of getting its facility validated from Japanese authorities. The company is eying revenue of Rs.200 crore by 2012-13 from its supply contract with Ranbaxy Laboratories.
The two firms signed a supply agreement last year. As per the pact, Parabolic is manufacturing two anti-biotic molecules for Ranbaxy. “We are already supplying Ranbaxy and the increase in capacity will further lead to enhanced supplies and revenues,'' he added.
Work apace in three more plants