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Chennai based Impcops aims to generate revenue of Rs. 50 crore before the end of this FY
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Peethaambaran Kunnathoor, Chennai
March 02 , 2023
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The president of the Chennai based multi-state co-operative society, Indian Medicine Practitioners Co-operative Pharmacy and Stores Ltd (Impcops) has said that the Society is looking to increase its revenue to the level of Rs. 50 crore before the end of this financial year.
In the last fiscal, the company generated a turnover of Rs. 42 crore. In the first three quarters of the present FY, Impcops created a turnover of Rs. 46 crore. The FY 2022-23 was a good sign for the society as far as growth is concerned, says Dr. M Kannan, president of the Impcops.
In an interview with Pharmabiz, the Impcops president said the company opened its 28th medicine depot in Ananthapur district in Andhra Pradesh two days ago.
With this, the number of medical depots of the Impcops has increased to four in Andhra Pradesh. Out of Tamil Nadu, the society owns total nine depots, four in AP, two in Telangana, two in Kerala and one in Karnataka.
In April last year, Impcops opened its second drug manufacturing unit at Tadeppalli near Vijayawada in AP. The first and the largest production facility is attached to its headquarters in Chennai. The society has more than five thousand members in Andhra Pradesh.
The depot opened lately in Anantapur will operate as a distribution centre for Anantapur and nearby districts.
Talking about his future plans, Dr Kannan said one Ayurveda hospital and panchakarma unit will be opened in Trichy in next June. This will be the seventh hospital -cum-medical depot of the Impcops. Currently Impcops has four hospitals in Tamil Nadu in addition to Pondicherry and Kerala with one each.
The society's Kerala depot at Thiruvananthapuram was expanded with a treatment centre in April 2022. The centre has a most modern panchakarma centre managed by skilled masseurs.
With a view to increase the production capacity of the drug manufacturing plant at Adyar in Chennai, Impcops developed the existing plant at Adyar into a state -of-the-art manufacturing unit last year which was inaugurated by the state cheif minister. The new building has facilities for storing finished formulations, raw materials, 2000 square feet ‘pagasalai’ (preparation hall), packaging section and a wide ‘Kalvam section’ (raw material grinding pulverizer unit).
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