Aurobindo Pharma to spend Rs 1,300 crore towards capex in FY15-16
The Indian pharma company will review the capex requirement at the end of the next quarter.
Hyderabad, November 18, 2014: The Indian drug firm Aurobindo Pharma may spend Rs 1,300 crore towards capex during the ongoing and the next financial year. The company is expecting to spend close to Rs 600 crore towards capex this year and will review the requirement at the end of the next quarter.
The capex is expected to spread across APIs (active pharmaceutical ingredients) and formulations. The company has spent close to Rs 275 crore during the first half of the current year.
The company currently has a net debt of US$ 447 million as of September 2014 as compared to a net debt of US$ 532 million on March 2014. The majority of the debt is denominated in foreign currency. The company expects to further reduce the debt by US$ 25-40 million in the second half of the year.