IOL Chemicals & Pharmaceuticals said it began commercial production of “Paracetamol” with an installed capacity of 1,800 MTPA as well as the upstream integration of Para Amino Phenol (PAP) effective April 22, 2022.
Paracetamol, also known as acetaminophen, is an active pharmaceutical ingredient (API) used to treat fever and mild pain, while PAP is used as an intermediate to make paracetamol.
The company manufactures paracetamol in its existing unit number 4, which has been converted into a multi-product facility, at a cost of around Rs 1 crore while PAP is manufactured in part of unit number 9. The company will continue to use unit 4 and unit 9 for the manufacture of other products according to market conditions.
Further, considering the current market scenario, the company is in the process of increasing the installed paracetamol manufacturing capacity from 1,800 MTPA to 3,600 MTPA with an investment of around Rs 25 crore, which is expected to be completed during of the third quarter of fiscal year 2023. . All investments are covered only by internal accruals, the company said.
IOL Chemicals & Pharmaceuticals is a leading pharmaceutical (API) company and a major player in the field of specialty chemicals. The Company’s product portfolio includes APIs such as ibuprofen, metformin, fenofibrate, clopidogrel, lamotrigine, pantoprazole and specialty chemicals such as ethyl acetate, isobutylbenzene, monochloroacetic acid and acetyl chloride.
The company’s net profit decreased by 65.10% to Rs 40.07 crore on an 8.21% increase in sales to Rs 555.14 crore in Q3 FY22 compared to Q3 FY21.
The certificate lost 0.22% to end at Rs 455.20 on BSE yesterday.
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