Vijayasri Organics Limited (VOL), a manufacturer of active pharmaceutical ingredients and bulk drugs, has embarked on a Rs 26.5-crore expansion plan involving setting up of additional reactors and research and development facilities. The project is likely to be completed by the third quarter of 2010-11.
The company, which commenced production in 2007, posted a turnover of Rs 156.46 crore and a net profit of Rs 4.85 crore during 2009-10.
VOL, which has a manufacturing plant at Jawaharlal Nehru Pharma City in Parwada near Visakhapatnam, had restructured the company board recently by appointing former chairman of AP State Finance Corporation M Gopalakrishna, former managing director of SBH Amitabha Guha , CMD of Lahiri’s Laboratories Pvt Ltd K Lahiri, a management consultant Sunil Unny Guptan and cardiologist PA Jiwani as independent directors.
VOL chairman and managing director SVJ Raju stated in a release that the company had set a target of Rs 1,000 crore turnover by 2013-14. It has launched a Hospital-on-Wheels at Parwada as part of its CSR.
