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Matrix Labs plans Rs 50 crore expansion in Nashik plant

Tushar Pawar  |  Mumbai/ Nashik 

Ltd (MLL), one of the major pharmaceutical in the country, is planning to expand capacity of its Nashik facility at an investment of Rs. 50 crore.

The company is also planning to recruit 500 people in the year 2010 to meet the requirement.

MLL is engaged in the manufacturing of Ingredients (APIs) and Forms. MLL’s Forms facility is located at Sinnar, near Nashik. The company manufactures a wide range of Ingredients (APIs) at its facilities located in Hyderabad and Vishakhapatnam.

MLL’s Nashik facility is spread over 49,701 sq mtrs area, with a built-up area of 28,431 sq mtrs. This plant has a capacity of 4 billion units of dosage formulations a year.

“We have already expanded the capacity of Nashik plant upto 4 billion units of dosage formulations a year and invested Rs. 200 crore so far in the plant. We are also planning to increase the capacity of this plant upto 6 billion units by the end of the next FY 2010-11, with an investment of Rs.40-50 crore,” S Srinivasan, CEO & Managing Director, Ltd (MLL), told Business Standard.

When asked him what growth the company sees in the current FY 2009-10, he avoided to divulge any financial details, saying, “the business is on a good track and company is doing quite well.”

In FY 2008-09, the company registered a turn over of Rs. 2,000 crore.

First Published: Fri, January 22 2010. 00:11 IST