Bi posts impressive turnover of Rs 137 crore; 33% rise in profits

Our Corporate Bureau
05 July 2003

New Delhi: Bi Ltd, a leader in healthcare packaging, has registered a consolidated turnover of Rs 136.78 crore for the year ended 31 March 2003, resulting in a profit after tax (PAT) of Rs 12.60 crore. The company has clocked an impressive 33-per cent rise in net profits after tax over the corresponding financial year.

The Indian entity alone has registered a stunning 27-per cent growth on the back of a sales turnover of Rs 86.82 crore for the current financial year, resulting in a PAT of Rs 7.66 crore. The turnover of the Indonesian subsidiary of the company grew from $8.42 million in FY2001 to $10.71 million in FY2002 ending 31 December 2002.

Says Bilcare managing director Mohan Bhandari: "Bilcare will grow well in the international market. The global pharmaceutical companies are happy with the comprehensive end-to-end pharma packaging solution provided by Bilcare. Pharma packaging research will be the prime focus at Bilcare."

The surge in growth witnessed in India has mainly come from Bilcare, the pharmaceutical packaging division of Bi. Bilcare, which is a unique research-based organisation focused on providing end-to-end pharma packaging solutions, is fast expanding their operations in the international markets.

During the past financial year the company closed strategic alliance with National Chemical Laboratories, Pune, which is a 50-year-old premier chemical and polymer institute of India. Bilcare also tied up with Friedrich Sanner KG, Germany, an over-100-year-old company, in closures for pharma packaging.

Bilcare launched Sanner closures in India during February of 2003. Bilcare has also signed an alliance with PRS Permacel (former subsidiary of J&J, USA) for providing anti-counterfeit solution to the pharmaceutical industry.