Sunday, May 19, 2024

Evexia Lifecare plans major & Expansion to enter into Bullion Trading

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 process of application for environment clearance with the concerned government authority and has procured all the required plant and machinery at Vadodara plant location. Once the Company receives the Environment Clearance (EC) from the concerned Government Authorities, the installation and production work will

Further, the Board of Directors of  one of the subsidiary company namely Kavit Trading Private Limited of in which Evexia holds 70% of 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 will improve the consolidated financials of the Company.

Apart from ISOMETA API product, Evexia Lifecare Limited is also planning to manufacture intermediate mainly use as anti-diabetic and heart diseases at Vadodara
based plant location. The Research & Development (R & D) team is at final stage of the 5 more products which the company may launch by November 2021.

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

The company has started its new branch at Hyderabad location for the trading of
pharmaceutical chemicals and the same will likely to contribute Rs. 25-30 Cr turnover
per year.

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