Mumbai : DIL Ltd. (BSE: DIL) today announced that its subsidiary, Fermenta Biotech Ltd. (FBL) has been included in the Forbes India Hidden Gems 2019 list as one of just nine Indian companies that are on the verge of hitting it big. Published by the Indian edition of Forbes, the reputed American business magazine, the Forbes India Hidden Gems list features Indian companies that have already tasted a degree of success, and are now poised for bigger things.Established in 1986, FBL is today the only manufacturer and supplier in India and among the top three manufacturers in the world of Vitamin D3 (Cholecalciferol). 80% of its revenue comes from exports to more than 300 customers in over 55 countries across sectors such as pharmaceuticals, nutritional supplements, food, animal nutrition, animal feed and rodenticides.
FBL manufactures Vitamin D3 through a complex process that involves extracting cholesterol from sheep’s wool. The manufacturing of Vitamin D3 began in 2004 and today accounts for majority of the turnover. However, with the global biotechnology industry estimated to rise to US$ 314.7 billion by 2021, FBL is in position to take advantage of this growth through a strategic focus on R&D and product delivery in the field of biotechnology, pharmaceutical and environmental solutions. With over 350 employees, FBL plans to expand geographically and enter into new emerging markets in the coming years.
Mr. Prashant Nagre, CEO, Fermenta Biotech Ltd. said, “The inclusion in the Forbes India Hidden Gems 2019 list is a recognition of our potential to grow in the field of enzymes and biotechnology, even as we stand apart as leaders in the manufacture of Vitamin D3. We have always endeavored to stay ahead of the curve, reinventing ourselves to outpace the competition, and we are glad that the promise our business holds has been recognized.”
FBL pioneered the manufacture of Penicillin G Amidase enzyme in India and is a leader in enzyme technologies for beta lactams synthesis. FBL has also commercialized next generation PGA enzyme technologies for Amoxicillin, Ampicillin, Cephalexin and Cefadroxil. FBL has 2 manufacturing facilities at Kullu in Himachal Pradesh which is cGMP certified and currently manufactures vitamin D3, specialty API’s and Enzymes, and at Dahej SEZ which manufactures Vitamin D3. Expansion is also being planned at Saykha near Bharuch, Gujarat. The capex will help FBL to increase manufacturing capacity of Vitamin D3 and forward integrate into Dietary Nutritional Supplement products.
DIL holds 91.2% equity stake in FBL. The shareholders and creditors of DIL Ltd. and Fermenta Biotech Ltd. approved the merger of Fermenta Biotech Ltd. with DIL Ltd. by voting on July 8, 2019 at the NCLT convened meeting. The merger process is awaiting final approval of NCLT. Post-merger, the name of DIL Ltd. is proposed to be changed to Fermenta Biotech Ltd.
About FBL :
DIL holds 91.2% equity stake in Fermenta Biotech Limited (FBL), which was incorporated in 1986. FBL is engaged inmanufacturing of Vitamin D3, other specialty APIs, biological enzymes and offers integrated biotech based environmental solutions. FBL has two manufacturing facilities:
· Kullu in Himachal Pradesh – cGMP certified and currently manufactures Vitamin D3, specialty API’s andEnzymes
· Dahej SEZ – set up in 2011 and manufactures Vitamin D3
For more information about the Company and its businesses, please visit the website https://www.fermentabiotech.
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