IOL Chemicals commences commercial production of Paracetamol

23 Apr 2022 , 10:27 AM

The Paracetamol, also known as acetaminophen, is an Active Pharma ingredient (API) that is used to treat fever and mild pain, whereas PAP is used as an intermediate to manufacture Paracetamol.

The company is manufacturing Paracetamol in its existing unit number 4, which has been converted as multiproduct facility, with a cost of about Rs 1 crore whereas PAP is being manufactured in part of unit number 9. The company shall continue to use unit 4 & unit 9 for manufacturing other products as per market conditions.

Further, considering the present market scenario, the company is in the process of enhancing the installed capacity for manufacturing the Paracetamol from 1,800 MTPA to 3,600 MTPA with a capex of about Rs 25 crore, which is expected to be completed during the 3 quarter of FY2023. All the capex is being met through internal accruals only, the company said.

IOL Chemicals & Pharmaceuticals is one of the leading pharmaceutical (APIs) company and is significant player in the specialty chemicals space. The companys product portfolio includes APIs such as ibuprofen, metformin, fenofibrate, clopidogrel, lamotrigine, pantoprazole and specialty chemicals such as ethyl acetate, iso butyl benzene, mono chloro acetic acid and acetyl chloride.

The companys net profit declined 65.10% to Rs 40.07 crore on a 8.21% increase in sales to Rs 555.14 crore in Q3 FY22 over Q3 FY21.

The scrip shed 0.22% to end at Rs 455.20 on the BSE yesterday.

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