Evexia Lifecare Limited updates on API plant, subsidiary

Evexia Lifecare Limited had earlier announced the setup of Active Pharmaceutical Ingredient (API) manufacturing plant of Isometamidium (Isometa), the company has completed the process of application for environment clearance with the concerned government authority and has procured all the required plant and machinery at Vadodara plant location. Once the Company receive the Environment Clearance (EC) from the concern Government Authority, the installation and production work will commence.

Further, the Board of Directors of the one of the subsidiary company namely Kavit Trading Private Limited of in which our Company holds 70% of shareholding has approved the business of direct buying of bullions from the Banks and selling in to the market. The said subsidiary company has approached bankers for the opening of Bullion Accounts with them. This new business will boost the revenue of the said subsidiary company and consequently will improve the consolidated financials of our Company.

Source : Equity Bulls

Keywords

EvexiaLifecare APIPlant Isometamidium