|
|
R.S. Agarwal in Calcutta on Wednesday. A Telegraph picture
|
Calcutta, Aug. 8: Emami has lined up Rs 125-crore capital expenditure this fiscal as the city-based firm strives to move beyond the turmoil caused by the fire at the AMRI hospital last year which saw many of its directors being arrested.
The company plans to set up a plant in Assam, besides completing two manufacturing units in Egypt and Bangladesh.
“We are hoping to complete these projects this year and maintain a healthy growth of 14-18 per cent both in profit and sales,” CEO Naresh Bhansali said after the 29th annual general meeting where co-founders R. S. Agarwal and R. S. Goenka made their first public appearance after getting bail.
Many of the directors of Emami were either arrested or were absconding following the pre-dawn fire at AMRI hospital in December, killing 93 people.
Emami has seven units in India, including two facilities in Assam.
Bhansali said the company had put the Egypt project on hold because of the uncertain political situation. Once the situation improved, Emami decided to go ahead with the plant, which will cater to Africa, West Asia and Europe.
Emami posted a 12 per cent growth in net profit at Rs 47 crore for the first quarter ended June 30, 2012, over the corresponding period last year. Net sales grew 14 per cent to Rs 339 crore during the quarter.
Asked if the fire had tarnished the image of the company, promoter director Aditya Agarwal said, “I do not think there is any impact on our image as is evident in our results.” Emami holds a 3 per cent stake directly in AMRI even as its promoter directors own majority of the healthcare venture.
|
