News | August 16, 2022
NGL Fine-Chem planning greenfield expansion at Tarapur
The estimated capex is to the tune of Rs. 140 crore to be funded through debt and internal accrual
The estimated capex is to the tune of Rs. 140 crore to be funded through debt and internal accrual
The company will strengthen its position in the ‘green solvent’ market by increasing its capacity by 20% to 120,000 MTPA from 100,000 MTPA before the end of current fiscal
Both the plants have a total Capex of Rs. 75 crore and expected production timeline is Q3 FY23
ICRA expects the OPM of the sample set to moderate to 20.2% in FY2023 from 21.5% in FY2022.
The capex for FY22 stood at Rs 145 crore and is expected to be in the range of Rs 250-350 crore for the entire FY23 which would be funded through a mix of internal accruals and debt
The plant is expected to start commercial operations from Q4FY24
All the capex is being met through internal accruals only
Through the contract, the company will supply two key GMP intermediates for one of the 'patented drugs' of the innovator pharmaceutical customer
Headwinds related to pricing pressures and rising raw material costs will result in some contraction in margins in Q4 FY22 and FY23
Ind-Ra maintains a neutral outlook for healthcare in FY23
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