News | August 12, 2022
GL Chemtech partners with Edgewater Capital to accelerate growth
Investment in response to increased demand for North American-based chemistry services
Investment in response to increased demand for North American-based chemistry services
Profit after Tax stood at Rs. 105 crore as compared to Rs. 119 crore on account of higher treasury income in Q1 FY22, non-cash ESOP cost, depreciation on account of acquired brands and finance costs in Q1 FY23
Both the plants have a total Capex of Rs. 75 crore and expected production timeline is Q3 FY23
Profit after Tax (PAT) was up 18% for Q1 FY23 to reach Rs. 28.7 crore whereas EBITDA was up 52% to reach Rs. 57.7 crore
With this expansion, the Grand Island site provides redundant capacity to support global supply of media and further extends the site’s capabilities to produce the high-quality technology and materials needed for the development and commercial manufacturing of vaccines and biologic therapies
The total financial outlay of the scheme is Rs.500 crore for a period of five years from 2021-22 to 2025-26.
Under the PMBJP, till 30.06.2022, 8742 PMBJKs have been opened across the country including Government Hospitals and Government premises.
India exported Bulk Drugs/Drug Intermediates worth Rs. 33,320 crore in financial year 2021-22.
Driven by a strong commitment to better serve its global customers in medical and consumer products, this investment represents the largest capacity expansion in Cariflex’s existing accomplishments
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