Indoco Remedies Ltd on Thursday said it is looking at an investment of Rs 125 crore for expansion of its sterile ophthalmic facility at Goa and for setting up a greenfield API facility at Patalganga in Maharashtra.

"We are investing Rs 125 crore for expansion of our sterile ophthalmic facility at Goa and for setting up a greenfield API facility at Patalganga. The investment will also cover an additional pilot plant for finished dosages at Goa," Indoco Remedies chairman Suresh G Kare told shareholders at the 68th annual general meeting.

"This investment, in sync with the government's 'Make in India' initiative, will be funded through a mix of debt and internal accruals," Kare said.

Stating that the company is on a high growth trajectory, he pointed out that Indoco's domestic formulation business was 14.7 percent as of March, 2015, surpassing the industry average of 13.3 percent.

"Top three brands of the company, Febrex Plus, Cyclopam and Sensodent-K feature amongst the top 500 brands in Indian pharma market. During the year, the company launched 19 new products across various therapeutic segments," Kare said.

"Going forward, the company will continue to launch around 20 new products every year. The company has re-structured the marketing divisions to sharpen the pattern of coverage of different doctor specialities and have added around 500 MRs, taking the total MR strength to 2800," he said.

During the year, the company received the USFDA approval for the sterile ophthalmic facility for the third consecutive time.

With this approval, all the three finished dosage and two API facilities are now USFDA approved.

During the first quarter of the current financial year, Indoco Remedies reported a net profit of Rs 20.3 crore as compared to Rs 18.7 crore for the same period last year.

Revenue for the first quarter of FY16 stood at Rs 216 crore as compared to Rs 211 crore sequentially for the preceding quarter.

Indoco Remedies stock price

On July 31, 2015, at 12:24 hrs Indoco Remedies was quoting at Rs 343.10, up Rs 15.10, or 4.60 percent. The 52-week high of the share was Rs 413.10 and the 52-week low was Rs 190.95.

The company's trailing 12-month (TTM) EPS was at Rs 9.01 per share as per the quarter ended June 2015. The stock's price-to-earnings (P/E) ratio was 38.08. The latest book value of the company is Rs 56.25 per share. At current value, the price-to-book value of the company is 6.10.