Stock Report

IOL Chemicals and Pharmaceuticals Limited announces board rejig

Posted On : 2023-04-04 16:47:06( TIMEZONE : IST )

The Board of Directors of IOL Chemicals and Pharmaceuticals Limited in its meeting held on today i.e. 3rd April 2023 has approved the change of the designation of Mr Vikas Gupta from Executive Director to Joint Managing Director of the Company. Mr. Vikas Gupta graduated from King's College London, University of London, with a Bachelor of Science in Business Management. He is intellectually prepared and has organizational abilities. Over the previous 10 years, he has been critical to the organization's operations, marketing, and strategy where he was instrumental in developing the Company's businesses. Vikas plays a significant role in guiding the Company's chemical and pharmaceutical business. He is associated with the company for last 10 years.

The company appointed Mr Abhiraj Gupta as Additional Director in the category of Executive Director with effect from 3rd April 2023. Mr Abhiraj Gupta, Bachelor of Science in Management and Engineering in Business Management from University of Warwick, U.K. is associated with the Company since September 2017. He possesses the requisite qualifications and experience related to the business of the Company and at present he is responsible for non-ibuprofen API and chemical business, R&D, regulatory and digital marketing of the Company. Under his leadership the non-ibuprofen API business is performing well.

The company appointed Mr Vikas Vij as Chief Executive Officer (CEO) of the Company with effect from 3rd April 2023. Mr. Vikas Vij joined IOL today as its 'Chief Executive Officer. Vikas has had a dynamic career spanning over 30 years reflecting pioneering experience and year-on-year success in achieving revenue, profitability and business growth objectives in start-up and established organizations.

Vikas has a Techno-commercial background with deep understanding of API and Chemical Industry and operations across Manufacturing, R&D, Procurement, SCM, RA & QA. He has a comprehensive knowledge of critical business drivers in both advanced and emerging markets.

Vikas has handled various leadership roles across Pharma value chain such as Active Pharmaceutical Ingredients (APIs), Finished Dosage Form (FDF), Custom Pharmaceutical Services (CRAMS), Specialty Chemicals, and achieved multi- million Dollar sales targets.

He joins us from Cipla where he was leading the API and Access Business Units. His earlier stints have been with Sun Pharma and Ranbaxy.

We believe that his skills and experience will bring growth across domestic and international markets, portfolio enhancement, efficiencies and professionalism to IOL making it one of the leading player in its' segment.

The board took note of the resignation of Dr Sanjay Chaturvedi (DIN: 08927689) from the position of Executive Director & CEO of the Company and accorded their approval to relieve Dr. Sanjay Chaturvedi from the closure of business hours on 3rd April 2023. The Board placed on record its appreciation for the contribution made by Dr. Sanjay Chaturvedi during his tenure with the Company.

The board also took note of the completion of Unit 9, a multi-product manufacturing facility at Barnala Plant site.

Shares of IOL Chemicals and Pharmaceuticals Limited was last trading in BSE at Rs. 300.80 as compared to the previous close of Rs. 282.90. The total number of shares traded during the day was 56269 in over 2159 trades.

The stock hit an intraday high of Rs. 302.90 and intraday low of 281.90. The net turnover during the day was Rs. 16628828.00.