Welcure Drugs & Pharma secures export orders worth Rs 86 crore

Welcure Drugs & Pharmaceuticals on Tuesday said it has bagged two export orders worth Rs 85.6 crore from Giant Exim and Ravina International.

On June 30, the company received a Rs 42.8 crore order each from Giant Exim and Ravina International for procurement and consolidation of mycorrhizal inoculant (EXW), a statement said.

"The orders will contribute fee-based revenue, with no inventory or logistics risk to the company," it added.

The company is in advanced discussions with additional international buyers for similar export sourcing mandates and expects to conclude further orders worth Rs 20 crore or more within the ongoing quarter, Welcure said.

It recently secured a Rs 517 crore global sourcing mandate from Thailand-based Fortune Sagar Impex Company.

"The company remains focused on expanding its fee-based export portfolio while maintaining its debt-free capital structure," Welcure stated.