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IOL Chemicals And Pharmaceuticals Limited, Punjab

IOL Chemicals And Pharmaceuticals Limited, Punjab

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14th November 2018
OUTCOME OF THE BOARD MEETING HELD ON 14 NOVEMBER 2018

Pursuant to Regulations 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Board of Directors in its meeting held on 14 November 2018 has approved the following:
  • Appointment of Mr Varinder Gupta, Managing Director as Chairman of the company.
  • The Board condoled untimely and sad demise of Dr M A Zahir, Chairman of the Company. The Board had conveyed its heartfelt condolences to the bereaved family on behalf of the company. The Board placed on record his invaluable contribution to the progress of the company.
  • Un-audited Financial Results for the Quarter and half year ended 30 September 2018.
  • Enhancement of existing manufacturing facilities of Metformin (Unit IV) from 3,000 MT per annum to 4,000 MT per annum in Pharma segment. The additional manufacturing facility of Metformin has been installed with capex of 2.71 crore. The project cost has been funded through internal accruals.
  • Completion of Unit V to manufacture Clopidogrel Bisulphate and Fenofibrate with capacity of 180 MT per annum with capex of 19.26 crore. The project cost has been funded through internal accruals.
  • Confirmed resolution passed by circulation confirming the reconstitution of Audit and Risk Management Committee consisting of Dr Sandhya Mehta, Independent Director as Chairman, Mr Chandra Mohan, Independent Director and Mr Vikas Gupta, Executive Director.
  • Approved the Corporate Social Responsibility Policy, a copy of which will be placed on website of the company.
The meeting of Board of Directors commenced at 12:00 noon and concluded at 3.40 p.m.






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