Venky’s (India) gallops on the establishment of a new veterinary medicine products project
Venky’s (India) rose 5.48% to Rs 2,735.30 after the company announced it was establishing a new project to manufacture veterinary medicine products as part of its animal health products segment.
The company has acquired 15,030 square meters of land in Satara in Maharashtra for this purpose. The project is expected to be completed by March 2022 and commercial production will start from June 2022.
In an exchange brief, the company said this project will focus on manufacturing veterinary drug powders (600 tons / year) and veterinary drug liquids (300 kiloliters / year) to meet growing demand from the world. poultry industry.
The total cost of the project is estimated at Rs 30 crore, which will be funded from internal provisions.
The proposed plant will be the company’s second and will comply with the latest FDA regulations and is expected to meet export needs as well.
Venky’s already has a factory in Pune (Maharashtra) with a capacity of 600 tonnes / year and this capacity is 70-80% used.
Venky (India) net profit decreased 15.6% to Rs 30.68 crore on a 40.7% increase in operating income to Rs 987.76 crore in Q2 FY22 compared to Q2 FY21.
Venky’s (India) is part of the VH group which is the largest and most integrated poultry player in India. The company’s diverse product line includes SPF eggs, chicken and egg processing, broiler and layer breeding, genetic research and poultry disease diagnostics, vaccines and dietary supplements for poultry, vaccine production, biosecurity products, poultry feed and equipment, nutritional health products, soy bean extract, etc.
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