Hikal''s main focus : Pharma
By Mumbai: | 09 Aug 2003
Mumbai: Shareholders of Hikal Ltd, at the annual general meeting of the company held recently, approved the issue of bonus shares in the ratio of one equity share for every two equity shares held and a final dividend of 25 per cent, making the total dividend for the year 65 per cent.
The company has fixed 1 October 2003 as record date for the purpose of issue of bonus shares.
Hikal is a key player in the fine chemical sector and had acquired a pharmaceuticals facility at Bangalore .The company has set up a new plant, which has already received Australian TGA approval and is awaiting US Food and Drug Administration approval, says Hikal chairman Baba Kalyani.
The USFDA certifications will open up huge opportunities for the company in the US pharmaceutical market.
Hikal has appointed Sameer Hiremath as its executive director. He has returned from the US, where he completed MBA and MS in information technology from Boston University. Hiremath is a chemical engineer and has worked with Hikal for five years — from August 1996 to Aug 2001. His appointment will add to the management depth of the company, a Hikal press release said.