News | November 22, 2022
Natural Biogenex completes its maiden fund-raise of Rs 18.75 Cr
The proceeds from this fund-raise will be deployed in financing the project requirements of the API business
The proceeds from this fund-raise will be deployed in financing the project requirements of the API business
The pre-approval inspection of USFDA was completed successfully with ZERO 483 observation of the manufacturing facilities of Bajaj Healthcare Limited
Within the API segment, ~20% of the revenues came from the domestic market and ~80% from the exports market
The company has successfully developed Methyl salicylate using Flow Chemistry and successfully erected a Flow reactor at Jhagadia plant and expects to start production from Q3 FY23
Revenue from operations for the half year was Rs. 178.5 crore, declined by 23% whereas net profit for the half year was Rs. 16.9 crore, declined by 70%
Most of the new growth Capex investments are happening on the Specialty Chemicals and Nutrition side
NFIL’s ambition is to reach revenues of US$100mn from CDMO by FY25.
On the Capex front, the company has invested Rs. 416 crore in the first half and it is broadly in line with our guidance for the two years around Rs. 2,000 crore across all the subsidiaries and divisions
Around 62% of the revenues came from the domestic market and 38% from the exports market for Q2 FY23 for a standalone business
Agreement strengthens Evonik’s track record as leading contract development and manufacturing organization (CDMO)
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