Nitta Gelatin India Ltd (NGIL) expects to close the current fiscal with a turnover of around Rs.300 crore on rising demand for gelatin in the pharmaceutical industry, Managing Director G. Suseelan said here Tuesday.
"The demand for gelatin is on the rise in the pharma industry. NGIL has developed the technology for manufacturing blood plasma grade gelatin which has a life saving application. NGIL, in its pursuit to manufacture gelatin at optimum cost, has successfully identified other raw materials for the manufacture of quality gelatin," said Suseelan.
The company is a joint venture between Kerala State Industrial Development Corporation (KSIDC) and Nitta Gelatin Incorporated of Japan. It has five manufacturing facilities- three in Kerala and one each in Baroda and Nagpur.
Of late, NGIL is manufacturing Collagen Peptide, a value-added product used effectively against osteoarthritis and osteoporosis.
"We plan to add more products to our consumer products portfolio which has been developed by the company's R&D in India as well as in Japan. The new products are targeted at those with osteoporosis and sportspersons and dancers," added Suseelan.
NGIL declared a turnover of Rs.67 crore and a profit of Rs.6.69 crore (before tax) in quarter 1 of the current fiscal.