Orchid Pharma Ltd updates on PLI scheme benefits for its subsidiary

Orchid Pharma Ltd Wholly Owned Subsidiary in India namely Orchid Bio-Pharma Limited ("Wholly Owned Subsidiary") had made an application with the Competent Authority under the Production Linked Incentive (PLI) Scheme for promotion of domestic manufacturing of critical Key Starting Materials (KSMs) / Drug Intermediates (DIs) / Active Pharmaceutical Ingredients (APIs) in India.

The approval has been accorded by IFCI Limited vide its letter bearing reference IFCI/CASD/DoP/PLI220715016 to the Wholly Owned Subsidiary for manufacture of the product "7 ACA" with a committed capacity of 1000 Metric Tonne Per Annum. This approval will help the Company in backward integration, reduce dependency on sourcing from China and aid in improving margins.

Shares of Orchid Pharma Limited was last trading in BSE at Rs. 290.35 as compared to the previous close of Rs. 289.90. The total number of shares traded during the day was 554 in over 22 trades.

The stock hit an intraday high of Rs. 291.00 and intraday low of 283.05. The net turnover during the day was Rs. 160163.00.

Source : Equity Bulls

Keywords

OrchidPharma INE191A01027 OrchidBioPharma 7ACA 1000MTPA PLIScheme BackwardIntegration