Evexia Lifecare Ltd Plans Major Expansion; To Enter Into Bullion Trading

Vadodara (Gujarat) [India], October 11: BSE listed (524444), Evexia Lifecare Limited has received initial plant layout permission from FDA to setup Active Pharmaceutical Ingredient (API) manufacturing plant of Isometamidium (Isometa) in addition to the current ongoing commercial activity, mainly used for the rare diseases in cattle, buffalo, goat, dogs, etc. Very few companies are manufacturing the said API in India and worldwide. The Company has completed the application process for environment clearance with the concerned government authority and has procured all the required plant and machinery at the Vadodara plant location. Once the Company receives the Environment Clearance (EC) from the concerned Government Authorities, the installation and production work will commence.

Further, the Board of Directors of one of the subsidiary companies, namely Kavit Trading Private Limited, where Evexia holds 70% of the shareholding, has approved the business of direct buying of bullion from the Banks and selling in the market. The said subsidiary company has approached bankers for the opening of Bullion Accounts with them. This new business will boost the revenue of the said subsidiary company and consequently improve the Company’s consolidated financials.

Apart from the ISOMETA API product, Evexia Lifecare Limited is also planning to manufacture intermediate, mainly used for anti-diabetic and heart diseases, at Vadodara based plant location. The Research & Development (R & D) team is at the final stage of five more products that the Company may launch by November 2021.

The Company is at an advanced stage of acquiring Akola (Maharashtra) based existing plant of one of the manufacturers of ISOMETA API, which will increase production capacity and profitability.

The Company’s vision is to enter into formulation by January 2022, which will give a push to the Company’s growth for the long term. The R & D team has already started work for the formulation plant, looking into the opportunity and available market in India and across the globe.

The Company has started its new branch at Hyderabad location to trade pharmaceutical chemicals, and the same will likely contribute Rs. 25-30 Cr turnover per year.

For the above all expansion activities, the Company will manage the funds internally, and the board is not expecting any external borrowings.

Comments are closed.

Business

Restore Energy Levels Quickly with The Moon Store’s New Range of Sugar-free Hydration Powder

Available in a range of delicious flavors, the Moon Lunar Hydration Powder is a zero-sugar alternative that quenches thirst and restores essential electrolytes, vitamins and mineral levels in the body in a safe and natural way New Delhi (India), March 29: The Moon Store, a premium health food brand dedicated to providing customers with nutritious […]

Read More
Business

Get your AC ready for summer season

New Delhi (India), March 29: The key to ensuring your air conditioner operates efficiently and effectively for years to come is regular maintenance. Neglecting this essential task can result in decreased performance and increased energy consumption. To keep your AC running smoothly, Hitachi Cooling & Heating, one of India’s top AC brands, recommends servicing your […]

Read More
Business

HRH NEXT Services Limited Unveils State-of-the-Art Delivery Center in Tumkur, Amplifying Bangalore Operations

Tumkur (Bangalore) [India], March 29:  HRH NEXT, South India’s leading contact center services provider, (Business Process Outsourcing Services) proudly announces the expansion of its operations with the opening of a new delivery center in Tumkur, Bangalore.  With over 15 years of excellence in contact center operations, HRH NEXT continues its trajectory of expansion and innovation. This strategic move […]

Read More