Innova Captab Limited commissions new unit at Kathua, Jammu Facility

Innova Captab Limited, a leading integrated pharmaceutical company, has announced the commencement of commercial production at its state-of-the-art manufacturing facility in Kathua, Jammu.

The facility comprises four dedicated manufacturing blocks including General, Cephalosporin, Penicillin and Penum with a capability to manufacture a diverse range of products in oral solid dosages, dry powder injectables, dry syrup, BFS, large volume parenterals and respiratory respule products.

With this expansion, the company, at a consolidated level, have total five manufacturing facilities with nine independent manufacturing blocks.

Commenting on the recent development, Mr. Vinay Lohariwala, Managing Director - Innova Captab Limited said "We are thrilled to announce the launch of commercial operations at our new Kathua, Jammu facility. This marks a significant milestone in our growth journey, enhancing both our production capacity and product basket. This will also enhance our ability to meet the evolving needs of our customers. This expansion is a strategic step in line with our long-term vision to strengthen our market position and fuel sustainable growth."

The facility has been established with a total capital outlay of more than ? 450 crores and with the start of commercial production, the Company is poised to benefit from the Central Government's 'New Central Sector Scheme', for Capital Interest Subvention of 6% per annum and GST-linked incentive of 300% of investment made in plant and machinery in 10 years.

Shares of Innova Captab Limited was last trading in BSE at Rs. 1040.50 as compared to the previous close of Rs. 1016.30. The total number of shares traded during the day was 9087 in over 931 trades.

The stock hit an intraday high of Rs. 1100.00 and intraday low of 1022.30. The net turnover during the day was Rs. 9444754.00.

Source : Equity Bulls

Keywords

InnovaCaptab Pharmaceuticals INE0DUT01020 CommercialProduction NewUnit Kathua Jammu