Sami Labs, Rs 250 crore multi-national Indian company, as its non-resident Indian promoter would like to call it, has chalked out massive expansion plans. This would see it raising substantial funds through an initial public offering by the end of 2006, and more immediately infusion of funds through the private equity investment route.
These funds would go to updating existing facilities, setting up two phytochemical extraction units in Andhra Pradesh (each at a cost of Rs 10 crores), and dosage form in Karnataka, and building a worldwide core team. The quantum jump in revenues is expected at Rs 500 crore for March 2006. It now has four facilities in Karnataka, and subsidiaries in US, Japan, South Africa and Dubai.
Mr. Majeed said part funds would go into R&D. As it is, the company spends 8-10 percent revenues on R&D. They would be looking at botanicals drug approvals in Europe and the US. It already has 19 patents and 20 more are in pipeline, he said.
The biggest markets for Sami Labs, which focuses on lifestyle type of products, are the US and Japan. Its best sellers now are ForsLean, Bioperine and Selinomethionine, in that order. The fast growing ForsLean accounts for $12 million this year, and is expected to jump to $50 million next year, he said.