Gufic Biosciences board approves CAPEX of Rs200cr, to set up new manufacturing unit; Stock surges

The proposed capacity is expected to be added by March 31, 2023.

Oct 05, 2021 12:10 IST India Infoline News Service

Gufic Biosciences board of directors have approved the proposal for increasing Capital Expenditure to the tune of Rs200cr. From the total, Rs180cr is proposed to be utilised for setting up of the Company's new manufacturing unit.

While the balance of Rs20cr is proposed for setting up the Research & Development facility, both in Indore, Madhya Pradesh.

The company plans to finance the CAPEX through internal accruals and debts if required.

In the general facility, the company plans to enhance capacity by 27 million vials per annum of Lyophilized and 32 million vials per annum liquid injection.

At present, Gufic's existing capacity is 48 million vials per annum of Lyophilized and 12 million vials per annum liquid injection.

Meanwhile, in the Penem facility, the company plans to expand capacity by 2.25 million vials per annum of Lyophilized, 30 million vials per annum of Dry Powder Injection and 22 million (Tablets/Capsules) per annum of oral solids. There is no existing capacity of the Penem facility currently.

The proposed capacity is expected to be added by March 31, 2023.

At around 12.37 pm, Gufic was trading at Rs209 per piece up 0.7% on Sensex. 

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