Shree Ganesh Remedies Ltd embarks on new greenfield project

Shree Ganesh Remedies Limited (SGRL) has started the modernization of its manufacturing facility to meet the Good Manufacturing Practice (GMP). This all-new Production block ("Plant 01") is being developed at the existing manufacturing facility of Unit-1, to move further in value chain. The modernisation process, which includes erection and commissioning of Plant 01 is likely to get completed in Q1 FY22-23.

The company will start construction of the phase-wise greenfield project at Dahej site in Q1 FY22-23. The Company has lease rights over 40,445 sq. mtr. of GIDC land and the first phase would be built over 8000 sq. mtr. This facility would help the company to address the demand of growing product portfolio in specialty chemicals and human health sector.

Management Commentins on expansion project, "Furthermore, after analyzing the value chain, the management team has decided to move towards the more Advanced API intermediates manufacturing. To implement this vision, the Company has started construction of the Plant 01, compliant with Good Manufacturing Practice (GMP). The plant commissioning is expected to take place in Q1 FY22-23 and further product quality assurance trials will commence thereafter. This will place your Company in a better position to cater to the Key-starting Materials (KSM) requirements of big domestic and global pharmaceutical players."

Shares of Shree Ganesh Remedies Ltd was last trading in BSE at Rs. 332.05 as compared to the previous close of Rs. 318.70. The total number of shares traded during the day was 11162 in over 541 trades.

The stock hit an intraday high of Rs. 345.00 and intraday low of 319.95. The net turnover during the day was Rs. 3697777.00.

Source : Equity Bulls

Keywords

ShreeGaneshRemedies INE414Y01015 Pharmaceuticals Modernization GreenfieldProject GMP Dahej