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Shasun Pharmaceuticals' revenue has jumped over 75 per cent to cross Rs 1,000 crore during the financial year ending March this year. The previous year's revenue was Rs 568 crore with nearly 90 per cent from exports.
The Chennai-based company now plans to double the revenue in the next three years.
It will invest over Rs 250 crore during the current financial year, said Mr S. Abhaya Kumar, CEO and Managing Director, Shasun, which is in its 35th year of operations. “We are confident of doubling the revenue in the next three years as there is huge demand for our products and for our formulation,” he said.
The company plans to raise $20 million through external commercial borrowings, he told newspersons.
Upgrade facilities
Mr Kumar said that the company is investing Rs 50 crore in a new manufacturing plant in Visakhapatnam.
This plant will be ready by December. It will also invest in upgrading the existing facilities at Cuddalore and Puducherry.
This will help the company increase its production capability of all products.
For instance, the production of tablets will double to 10 billion by 2015, he said.
With 1,800 employees, Shasun is the world's largest producers of Ibupprofen API and its derivatives.
It also supplies key products to innovator pharmaceutical companies. It exports its products to over 40 countries.
On the Bombay Stock Exchange, the company's share price closed at Rs 107, an increase of Rs 5.05 or 4.95 per cent over the previous day's closing price.
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