Alembic Pharma in an announcement to exchanges said that it will be impairing capital work-in-progress worth Rs 1,150 crore from its book. This is related to recently commissioned or to-be-commissioned facilities. The company is writing off these assets as the recoverable value of assets has significantly been reduced due to adverse market conditions.
The total CWIP as of September 30, 2022, stood at Rs 2,357 crore, while the company will write off nearly half of the same. These investments were related to three facilities – Panelav (oncology injectables/oral solids, partly commercialized), Karakhadi (Ophthalmic and general injectable), and Jarod (oral solids). Watch the video to know more.
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