Kilitch Drugs India, an injectables manufacturer in India and Ethiopia, has launched its INR 100 crores expansion plan by buying a 15-acre land parcel in Maldev in Maharashtra.
According to Kilitch Drugs India, the land bought by it will be used for setting up a greenfield pharma complex which is expected to house four to six manufacturing units in various therapeutics categories. The new pharma complex will serve the increasing demands in domestic and exports markets.
Kilitch Drugs India said that the expansion will be in a similar line of injectables and other biotech products.
Mukund Mehta — Chairman and Managing Director of Kilitch Drugs said: “We are on a growth trajectory and demand for our products is increasing. This expansion will help us to fuel our growth plan. This will be an ultra-modern facility and the capex requirement for this facility will be in tune of approx. Rs. 100 Crore.
“We are planning to fund the capex mostly through internal accruals and it will be in a phased manner. We are looking for a horizon of 2 years to commence commercial production of Phase I.
“Once the total expansion is complete it will generate Revenue opportunity of approx. Rs. 500 Crore.”
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