Dharani Finance

EPW Research Foundation Wockhardt WOCKHARDT, a Bombay-Abased pharmaceutical company, plans to enter the international capital market with a US $ 75 million issue. The issue which is being made to fund the company's new projects in bulk drugs, pharmaceuticals, IV fluids, nutrition and agro projects is slated to open sometime in March. Wock hardt also plans to invest an additional Rs 10 crore by 1995 in its new ultramodern R and D centre which has been set up at a total cost of Rs 5 crore and is commencing operations this month. The expansion of its IV fluids manufacturing facility at Waluj which is to cost Rs 12 crore will increase the company's capacity to 39 million units per annum. The expansion is nearing completion and is expected to commence commercial production towards the end of February. For the six months ended December 1993 the company's total income rose by 38 per cent to Rs 85.4 crore and net profit increased by 75 per cent to Rs 16.5 crore over the corresponding period last year.