Piramal Pharma deploying USD 85 million capex this fiscal: Nandini Piramal
New Delhi: A capex of about USD 85 million is being utilized by Mumbai-headquartered company, Piramal Pharma, for various initiatives, including capacity expansion, maintenance and de-bottlenecking of CDMO sites in the current fiscal, according to its Chairperson Nandini Piramal.
The Company which aims to cross $2 billion in revenue by FY30, has already invested around $30 million in the first half of the ongoing fiscal on the initiatives.
"We expect the capex this year to be at a similar level as last year, which is about $85 million," Piramal told PTI in an interaction.
A part of the capex is planned for the domestic market while some of it would also go into the US business, she added.
"Some part of it, around $30 million, is maintenance capex, and the rest would go into capacity expansion in Telangana and Dahej (Gujarat) plants and also towards de-bottlenecking of some of the CDMO sites," Piramal noted.
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