Financial Daily from THE HINDU group of publications
Wednesday, Nov 12, 2003
Financial Daily from THE HINDU group of publications Wednesday, Nov 12, 2003 |
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Corporate
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Mergers & Acquisitions Albert David plans to acquire new manufacturing facility — Looks at setting up overseas units Kohinoor Mandal
Kolkata , Nov. 11 PHARMA company Albert David Ltd plans to acquire a manufacturing facility in the city and hopes to set up overseas outfits. The company is trying to consolidate its operations and strengthen the marketing wing to meet challenges from domestic and global players, according to Mr K.P. Mundhra, Executive Director of Albert David. "We have been successful in gradually increasing our turnover and profitability over the last three to four years. We are also focusing on formulations to maintain an edge over our competitors," Mr Mundhra told Business Line. The management is contemplating a new production unit at Rs 30-35 crore. "We are also considering an acquisition of a production unit. We will wait till the end of the year. If it does not materialise, then we would set up the new unit," he said. When inquired whether the acquisition would be in West Bengal, he said nothing has been finalised. However, he added that the new factory would have infrastructure for multi-utility facilities. Meanwhile, the company is planning overseas outfits. According to Mr Mundhra, the company may consider setting up its own offices and, probably, subsidiaries in future, in countries where it has strong presence. "We are looking at countries like Vietnam, Myanmar and some of the African nations but everything is in a preliminary stage," he said. Albert David is also considering new formulations in areas such as gynaecology, gastroenterology, anti-diabetics, cardio-vascular, vitamins, anti-ulcer, anti-inflammatory and haematinics. The company is working to introduce a slew of herbal drugs too. "Apart from marketing we are laying great stress on improving our formulations department. We feel that the future of the Indian pharmaceutical companies would depend on the strength of their formulations," he said. The 64-year old Albert David produces bulk drugs, intravenous fluids and disposable needles and syringes. The company has manufacturing facilities in Kolkata, Ghaziabad and Madhya Pradesh. In 2002-03, it registered a turnover of Rs 107.62 crore and a net profit of Rs 5.19 crore. In the first half of current fiscal, its turnover was Rs 67.24 crore and net profit was Rs 4.89 crore. "We are hoping to register an annual turnover of Rs 125 crore by the end of the current fiscal," he said.
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