Indfrag to expand operations

By Our Staff Correspondent

MUMBAI, AUG. 9. Indfrag Biosciences Ltd., the Bangalore-based company engaged in botanical extracts, is planning to expand its current operations. The company exports ingredients to the natural healthcare industry, that is, dietary supplements (nutraceuticals) and functional foods.

The company has projected an expansion cost of Rs. 30 crores for its plant at Kundumaranapalli in Tamil Nadu. Earlier, it had a technical and marketing collaboration with Quest International, a subsidiary of Unilever, and the extracts were sold to leading European fragrance houses and used in world famous perfumes.

At present, Indfrag has a strategic relationship with Leeward Resources Inc. of the U.S. which supports Indfrag in marketing, logistic management, global raw material sourcing and technical information. The company has also signed an MoU for a JV with Botanical Enterprises Inc. of the U.S. to develop Botanical RX and OTC drugs meeting USFDA norms.

Indfrag's turnover was Rs. 23.3 crores and the net profit Rs. 6.08 crores for the year ended March 31, 2000. According to Mr. Philip Samuel, chairman and managing director, ``Indfrag has developed its R&D capabilities and extraction knowhow for over a decade.''

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Section  : Business
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