Chennai: Chennai-based biotechnology firm ABL Biotechnologies Ltd has said it plans to become, by the end of next year, India’s only maker of plant-based DHA (decosahexaeonic acid), an omega-3 fatty acid, considered vital in early childhood for brain functioning and development.
The company says it will then sell DHA at around a third less than existing products, and predicts Rs150 crore in revenue two years after manufacturing begins. ABL is planning to invest Rs60 crore towards setting up a plant in Tiruchendur, which would take 18 months to complete, company officials said.
“Since it is sourced from a plant form, it is totally vegetarian, unlike when sourced from fish oil,” said K.O. Isaac, chairman and managing director of ABL. The firm has sourced DHA from marine microalgae.
ABL said the facility will have an initial annual capacity of 50 tonnes. The firm had revenues of Rs14 crore and a net profit of Rs2.15 crore for the year ended March. It will look to private equity capital for the new factory, said Isaac.