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Pharma company Divis Laboratories Ltd (DLL) has planned an initial investment of ₹500 crore for a new factory near Kakinada in Andhra Pradesh.
The company says the move is not only aimed at augmenting capacity but also de-risking its business.
In a communication to the stock exchanges, DLL said it has made an application to the AP Government for allotment of land near Kakinada and was awaiting a favourable response.
This would be its third manufacturing site. It would be aimed at augmenting capacities, apart from de-risking its business. It envisaged making an initial investment of ₹500 crore for the new venture.
Divis Laboratories has two manufacturing facilities — at Hyderabad (unit-I) and at Visakhapatnam (unit-II). In the quarter ending December 31, 2014, DLL’s income from operations was ₹788.08 crore and net profit was ₹220.58 crore. The EPS was ₹16.62.
The share (face value ₹2) had closed at ₹1,742.45, down by ₹22.90 on the BSE on Friday.
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