IOL Chemicals plans expansion

Ludhiana based IOL Chemicals and Pharmaceuticals Limited, will soon be expanding its pharmaceutical division with a capital outlay of Rs 24.11 crore and making it USFDA compliant.

Established in the year 1986, IOL Chemicals and Pharmaceuticals Limited is a manufacturer and supplier of Industrial Chemicals and Bulk Drugs for use in various pharmaceutical applications.

The production capacity of Ibuprofen has already been boosted through the establishment of a new facility in February 2007. It has been designed to conform to USFDA & EU standards and the production capacity of Ibuprofen has increased to 1800 TPA.

Speaking to Business Standard, Varinder Gupta, Chairman cum managing director, IOL Chemicals and Pharmaceuticals Limited said that the company has reported jump of 33 percent in its turnover which increased from Rs 174.48 crores during the year ended March 31, 2006 to Rs 231.71 crores during the year ended March 31, 2007.

``The profit after tax increased from Rs 7.26 crores during the previous year to Rs 7.55 crores during the year under review.''

The company also has overseas customers, who are spread across countries like Bangladesh, Thailand, UAE, Syria, Singapore, Hong Kong, Pakistan, Egypt and many others.

The company is also supplying to Ranbaxy Labs, CIPLA, Flex Industries, ICI Paints, Asian Paints, Pidilite, Rallis India, Hindustan Polymide, Gujarat Super Phosphate, and Avon Organics Ltd besides many more.