Alembic chairman Chirayu Amin to head Indian Premiere League (IPL)

Alembic chairman Chirayu Amin has been named the interim chairman of Indian Premiere League (IPL) of cricket.

Chirayu R. Amin has been working with Alembic since 1983. Under the able leadership of CMD, the Company has achieved and has been able to mantain the growth in sales despite very keen competition in pharmaceutical industry.

An MBA from USA, Chirayu Amin is director on board of Elecon Engineering and United Phosphorus Limited, Mumbai.

Chirayu Amin was president of FICCI- New Delhi , International Chamber of Commerce (India Chapter) New Delhi, All India Organisation of Employers, New Delhi, Federation of Gujarat Industries, Vadodara , Gujarat Flying Club, Vadodara and The Indian Council of Arbitration, New Delhi.

He is president of BCA Vadodara and Also Vice President of BCCI. He is a member of World Presidents’ Organization, U.S.A.He is a Committee Member of Federation of Gujarat Industries, Vadodara, Federation of Indian Chambers of Commerce and  Industry (FICCI), New Delhi.

Started in 1907, Alembic is an integrated pharmaceutical company with manufacturing facilities in Baroda and Baddi, India with R&D facilities spearheading landmark research in the areas of chemistry, microbiology, pharmaceutical technology. and bio-equivalence.

Alembic is a certified ISO-9002 ,ISO-14001 and ISO 27001 company with manufacturing practices and facilities that conform to WHO-GMP guidelines ensuing that every Alembic product meets the most stringent quality standards.

Alembic Limited reported net sales of Q3FY10 at Rs 300 crore compared to Rs 283 crore in Q3FY09. Net profit is at Rs 13.6 crores compared to profit of Rs 2 crores in corresponding period last year.

Total export sales for the third quarter were Rs 115 crores vis-à-vis Rs 96 crores in the corresponding period last year. This growth has come from the formulation sales to the regulated markets which increased by 127%.

The growth was mainly due to the ANDA launches in the US market. Growth also came from formulation dossier supplies to Canada as well as Europe. API supplies to regulated markets had a relatively subdued growth at 8% to Rs 60 crores.

Domestic formulations sales for the third quarter are Rs.154 crore against Rs.171 crores last year. Post restructuring, business is now stabilizing. Most of the business health parameters are in check and we are confident of growth in the future.

As per ORG rankings the industry grew by 17% while Alembic grew at 24.7% (As per ORG, MAT Dec 2009). This growth is the second highest among top 25 corporates in the Indian Pharma Industry.

Azithral moved up to 16th rank (Dec MAT 09) with Rs 96 cr sales from 29th rank (Dec MAT 08) with Rs 73 cr sales.

Alembic’s manufacturing facilities are located in Vadodara and Baddi in Himachal Pradesh. The plant at Vadodara has the largest fermentation capacity in India. The Panelav facility houses the API and formulation manufacturing (both US FDA approved) plants.

The plant at Baddi,Himachal Pradesh manufactures formulations for the domestic and nonregulated export market. The company has a state of the art Research Centre at Vadodara.