Pursuant to Regulations 30 and 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Board of Directors in its meeting held on 13 November 2017 had approved the following:
1. Un-audited Financial Results of the Company for the quarter and half year ended 30 September 2017.
2. To enhance the manufacturing capacity of Ibuprofen from 7200 TPA to 12000 TPA and enhance the capacities of backward integrated products i.e. Iso butyl Benzene from 9000 TPA to 12000 TPA, MCA from 7200 TPA to 10500 TPA and Acetyl Chloride from 5200 TPA to 8400 TPA with a project cost of
200 crore which will be met through combination of equity, internal accruals and loans over a period of two years.
3. Setting up Unit IV for manufacturing Metformin an anti diabetic drug with a capacity of 2880 MT per annum with project cost of
10 crore which will be financed through internal accruals.
Further the Company has completed and commercialized Unit III to manufacture Fenofibrate, Clopidogrel and Lamotrigine etc. with project cost of
16.48 crore met through internal accruals.
Please find enclosed herewith the following:
1. Un-audited Financial Results for the quarter and half year ended 30 September 2017
2. Independent Auditorsí Review Report on the Un-audited Financial Results for the quarter and half year ended 30 September 2017.
Kindly note that the meeting of Board of Directors commenced at 12:00 noon and concluded at 04:50 p.m.