Advertisment

Celestial Labs to produce industry-based enzymes

author-image
CIOL Bureau
New Update

HYDERABAD: Celestial Labs Ltd will start producing industry-based enzymes, Alpha Amylase and Alkaline Protease.

Advertisment

The Hyderabad-based company got the technology transferred exclusively from the Institute of Microbial Technology, Chandigarh, and will start production in the next nine months.

According to Celestial Labs managing director A. N. Singh, "these are industry-based enzymes used in detergents, textiles, starch, pharmaceuticals, etc. Only three companies in India (Biocon, Maps India, and India Biochemicals) are now producing these enzymes and Indian companies are importing 70 percent of the total enzyme consumption requirement."

However, the company's objective is not to ensure enzyme production at a cheaper cost.

Advertisment

"The objective is not to come up with enzyme production at a cheaper cost but to maximize the productivity of these enzymes," Singh added.

The company is setting up a Rs 15 crore enzyme production unit at Genome Valley in Hyderabad. It has sought a central government assistance to the tune of Rs 9 crore, while the company will invest the remaining Rs 6 crore.

Celestial registered revenues of Rs 8 crore for the financial year ended Mar-April 2005. It projected the revenues for the current fiscal at Rs 12 crore. Its projection for the fiscal year 2007 is Rs 30 crore.

"By the start of the next financial year we will have the (enzymes) production unit functional and hence we foresee that the revenues for fiscal 2007 would be up by Rs 30 crore," Singh said.

Celestial plans to go public next financial year. However the exact date for the release of its IPO is yet to be decided.

tech-news