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Earnings

Neuland Laboratories expects 15-20% growth over a medium to long-term

Updated : February 13, 2019 12:43 PM IST

Pharmaceutical company, Neuland Laboratories Ltd, on Wednesday said it expects 15-20 percent growth over a medium to long-term, after the shares of the company surged on the back of a strong set of Q3 numbers.

In an interview to CNBC-TV18, Sucheth Rao, vice chairman and chief executive officer, said custom manufacturing solutions (CMS) business is a high growth opportunity for Neuland Laboratories.

Rao said Neuland Laboratories has seen good growth in all segments in Q3.

On the debt front, he said, "Today the cash on books is about Rs 32-35 crore.  The sanction limits are approximately about Rs 210 crore, but our utilisation is only about Rs 140-150 crore, so we are hardly about 60 percent of utilisation."

"Our term loans are about Rs 80-85 crore. Our debt-equity is 0.35 or so. We are pretty conservative and we continue to be fiscally frugal and that’s our intent going forward as well,” Rao said.
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