Date:10/06/2005 URL: http://www.thehindubusinessline.com/2005/06/10/stories/2005061002700200.htm

Back Ind-Swift implementing Rs 100-cr expansion

Our Bureau

Mumbai , June 9

THE Chandigarh-based Ind-Swift Ltd is implementing a Rs 100-crore expansion plan.

The Rs 246-crore company is setting up three units in Punjab, Himachal Pradesh and Jammu and Kashmir and expects the projects to be completed in about nine months.

The additional capacities include a 100 per cent export-oriented unit at Lalru (Punjab), a new finished dosage facility at Baddi (HP) and a new unit at Samba (J&K). The company expects the estimated three-fold expansion to result in a 40 per cent growth in sales and profits.

A company official said that the funds were raised through a recent preferential allotment, term loans and internal accruals. He also denied speculation in the market that the company was off-loading equity to a domestic drug major.

The new unit at Jammu is nearing completion and is expected to commence production soon and the other two units are expected to be operational by September.

Further, the company said that it has purchased land in Baddi for setting up a new formulation facility for the manufacture of oncology, cephalosporins, beta-lactum, herbal & neutraceutical products. The facility when operational will be largest in terms of capacity in north India, the company claimed.