IOL CHEMICALS AND PHARMACEUTICALS LTD
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BSE Code:
524164
NSE Code:
IOLCP
Business Profile
Business Profile
IOL Chemicals and Pharmaceuticals (IOLCHEMPH), established in the year 1986, is a manufacturer and supplier of industrial chemicals and bulk drugs used in various pharmaceutical applications. Earlier known as Industrial Organics, it got its present name on Dec. 05, 2006.
The company`s product portfolio includes industrial organic chemicals such as acetic acid, glacial acetic acid, ethyl acetate, acetic anhydride and bulk drugs like ibuprofen. These products cater to the industrial sectors of textiles, pharmaceuticals and packaging. The manufacturing plant is located at Barnala in the Sangrur district of Punjab. Having implemented the expansion-cum-captive co-generation project in FY07-08 at a total capital outlay of Rs 769.4 million, the enhanced installed capacities have increased to 50,000 TPA acetic acid, 33,000 TPA ethyl acetate, 12,000 TPA acetic anhydride, and 3,600 TPA ibuprofen. A 4 MW co-generation power plant has also been set up. Under the expansion-cum-forward and backward integration project at a capex of Rs 2.16 billion, 65 acres of land was acquired for its backward and forward integration project.
Recent awards include the 2nd prize in the chemical sector for National Energy Conservation Award-2007 awarded by the Ministry of Power, Government of India. The company`s client list includes names such as Ranbaxy Laboratories, CIPLA, Flex Industries, ICI Paints, Asian Paints, Pidilite, Rallis India, Hindustan Polymide, Gujarat Super Phosphate, and Avon Organics among others. It has presence in countries such as Bangladesh, Thailand, UAE, Syria, Singapore, Hong Kong, Pakistan, Egypt and many others.
The registered office is located at Trident Complex, Raikot Road, Barnala, Sangrur-148101, Punjab.
Financials
IOL Chemicals and Pharmaceuticals registered a profit of Rs 123.63 million for the year ended March 2008.
It recorded a net sales of Rs 3,179.43 million for the year ended March 2008.
Total income was Rs 3,183.05 million for the year ended March 2008.
Recent Developments
28-MAY-09
The company commenced the manufacturing operations of Mono-chloro Acetic Acid (MCA) with the capacity of 7200 TPA, Acetyl Chloride with the capacity of 5200 TPA during the month of May, 2009 as partial completion of its ongoing expansion cum backward and forward integration project.
12-FEB-09
The company has received coveted certifications for exports of its pharma product, Ibuprofen, to various countries.
05-MAY-08
On May 05, 2008, the company approved the following:
-Issue of securities to qualified institutional buyers for an amount not exceeding Rs 50 million.
- Raising of sources through issue of securities in the international market upto USD 10 million.
08-APR-08
IOL Chemicals & Pharmaceuticals has decided to sell 5% stake to private-equity funds to raise around Rs 800 million. The company has already begun talks with four overseas private-equity funds based in Singapore and the US. The deal is expected to be wrapped up by the end of the first quarter of the current fiscal.
02-APR-08
Banks and financial institutions have agreed to partially finance the company`s Rs 1.4 billion expansion-cum-forward and backward integration project with a capex of Rs 2.16 billion. The balance amount will be covered through internal accruals and equity from promoters and private parties on preferential basis.
25-MAR-08
IOL Chemicals & Pharmaceuticals will revise the maximum sale price of ibuprofen bulk drug to Rs 442 per Kg from Rs 404 per Kg. The price hike, to be made effective within 15 days, is pursuant to an order passed by the Government of India, Ministry of Chemicals and Fertilizers (National Pharmaceutical Pricing Authority). IOL Chemicals will be investing Rs 750 million on rabiprazole, an anti-ulcer drug, to strengthen its pharma business.
17-MAR-08
IOL chemicals and Pharmaceuticals is looking for a seven-fold jump in its exports at Rs 3.5 billion in the next two years even as it targets a total turnover of Rs 8 billion by 2010-2011. The company is expected to clock a revenue of around Rs 3.5 billion in the current fiscal, with exports accounting for nearly 15% at Rs 500 million. It is soon going to open an office in Dubai with the aim to tap the Middle East market and is also exploring opportunities in the Latin American region. It has chalked out plans to enter into other emerging markets of eastern Europe and Russia.
Future Plans
The company is entering into a new segment of proton pump inhibitors by undertaking the implementation of project to manufacture Rabiprazole, and anti-ulcer drug and its derivatives.