Elder Pharmaceuticals has made major pending statutory payments of TDS, Provident Fund, ESIC, Maharashtra Labour Welfare Fund (MLWF) etc to the tune of roughly Rs 26 crore. The company which was going through erratic cash flow situation since some time plans to clear the backlog of other payments very soon. The company is also in talks to raise fresh funds through a combination of debt and equity.
Elder Pharmaceuticals has around six manufacturing units in India, all as per international standards. Post increasing its stake in Elder Biomeda AD and Neutrahealth PLC, EPL also has access to the manufacturing units of these companies in Bulgaria and Birmingham, UK respectively coupled with distribution network and brands of the same.
