Ind-Swift targets Rs 350 crore

Following the setting up of three units, one each in Punjab, Himachal Pradesh, and J&K, Ind-Swift Ltd is looking at an annual turnover of Rs 350 crore in the current financial year, which exceeds the turnover of the previous year by more than Rs 100 crore.

"With an investment of Rs 100 crore, we are looking at 20-25 per cent growth in our business in the current financial year, with the units expected to be completed over a period of six to nine months", said N R Munjal, managing director, Ind-Swift Laboratories Ltd.

Regarding the plans of the company, Munjal said, "We would be setting up a state-of-the-art 100 per cent export-oriented unit at Lalru, Punjab, which would cater for the Southeast Asian market and later on the European and the US markets. After the completion of the project, the company's exports would increase from 10 per cent to 40 per cent of the total turnover in the next three years."

He said the company was in an advanced stage of getting its products registered in overseas markets and so far it had filed 40 dossiers in Asian and European countries.

To cater for the domestic market, two units--a dosage facility in a tax-exempted zone of Baddi in Himachal Pradesh, and another unit at Samba in J&K--had been set up by the company, he said.

"The unit of Jammu will be exclusively for contract manufacturing, serving Ranbaxy, Lupin, Cipla, etc. and after expansion the capacities are expected to increase threefold, with an estimated 30-40 per cent rise in the the top line and bottom line of the company", he said, adding that the company had recently purchased seven acres of land in the tax-free zone of Baddi for setting up a formulation facility for manufacturing the Oncology, Celphalosporin's Betalactum, Herbal and Neutraceutical products.

On the research and development front, the company has invested Rs 10 crore and has received its first US patent for controlled release macrolide pharmaceutical formulations developed in house.

"We have been granted two process patents from Indian Patent Office. One Patent is a new salt of the erythromycin derivatives for use in all its dosage from and other is a process patent for tasteless directly compressible complex of anti-histamine drug.