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Motilal Oswal Report
Divi’s Laboratories Ltd., an Indian pharma company, is among the top three Active Pharmaceutical Ingredient manufacturers in the world.
It is also into manufacturing of Nutraceutical ingredients and Custom synthesis of APIs for global Pharma companies.
Major capex to be completed in FY21 - To support commercial manufacturing, the company incurred capex of Rs 13 billion for FY20 and is in the last phase of major capital expenditure (Rs 8 billion capital work in progress).
The DC-SEZ and DCV-SEZ units, which were partially commercialized in February- March 2020, would help increase the capacity to drive volumes and better backward integration, in turn growing margins.
Increased capacity would also help the company capitalize on the current increase in demand and lock-in customers for their long-term requirements.
The outlook remains intact in terms of opportunities post the commercialization of manufacturing facilities.
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