Orchid Recasts Debt, Presages Formulations Unit Rebound
Chennai-based Orchid Chemicals & Pharmaceuticals Ltd has restructured a portion of its Rs 440 crore debt portfolio.
The company also expects to recast Rs 100 crore high-cost debt in the next financial year and has prepaid Rs 70 crore loans, a senior Orchid official said.
Orchid also expects to close this financial year with a turnover of about Rs 540 crore, with its formulations division bouncing back riding on revenues of about Rs 65 crore.
K Raghavendra Rao, managing director, said the average cost of funds would go down from