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Venkys, India, rose 5.48% to 2735.30 rupees after the company announced it was setting up a new veterinary medical product manufacturing project in the Animal Health Products segment.
For this purpose, the company has acquired a plot of land with a size of 15030 square meters in Satara in Maharashtra. The project is expected to be completed by March 2022 and commercial production will begin in June 2022.
In an exchange request, the company said this project will focus on the production of veterinary medicinal powders (600 tons / year) and veterinary medicinal products (300 kiloliters / year) to meet the growing demand from the poultry industry.
The total cost of the project is estimated at Rs 30 crore funded from internal provisions.
The planned facility will be the company’s second facility and will meet the latest FDA regulations and also meet export needs.
Venky’s already has a plant in Pune (Maharashtra) with a capacity of 600 tons / year and this capacity is used at 70-80%.
Venky’s, India net income decreased 15.6% to Rs 30.68 billion while operating sales increased 40.7% to Rs 987.76 billion in the second quarter of FY22 versus the second quarter of FY21.
Venky’s (India) is part of the VH Group, which is the largest and most integrated poultry supplier in India. The company’s diversified product line includes SPF eggs, chicken and egg processing, broiler and laying hen breeding, genetic research and diagnosis of poultry diseases, poultry vaccines and feed supplements, vaccine production, biosafety products, poultry feed and equipment, nutritional health products, soy bean extract, etc.
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(This story was not edited by Business Standard staff and is automatically generated from a syndicated feed.)
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