The company made this announcement after market hours on Friday, 23 September 2011.

Meanwhile, the BSE Sensex was down 40.70 points, or 0.25%, to 16,121.36.

On BSE, 2,047 shares were traded in the counter compared with the average daily volume of 27,300 shares in the past one quarter.

The stock hit a high of Rs 87 and a low of Rs 84.95 so far during the day. The stock had hit a 52-week high of Rs 158 on 8 November 2010 and a 52-week low of Rs 74.50 on 22 August 2011.

The small-cap stock had outperformed the market over the past one month till 23 September 2011, rising 6.06% compared with the Sensex's 2.04% fall. The stock also outperformed the market in past one quarter, falling 7.66% as against Sensex's decline of 8.83%.

The company has an equity capital of Rs 36.38 crore. Face value per share is Rs 10.

Ind-Swift Laboratories got Therapeutic Goods Administration (TGA) approval from Australia for seven active pharmaceutical ingredients (API) viz., Donepezil HCI, Clarithromycin, Letrozole, Pioglitazone HCI, Ropinirole, Acamprosate and Aripiprazole to be manufactured at its facility at Derabassi, Punjab.

Commenting on the development N R Munjal, vice chairman and managing director, Ind-Swift Laboratories said, "The TGA approval for seven facilities will further strengthen our market position in the Pacific region and the recent accreditation from TGA will facilitate our growth and penetration specifically in the diabetology and cardio vascular disease treatments".

Ind-Swift Laboratories' net profit rose 16.7% to Rs 17.34 crore on 34.3% rise in net sales to Rs 266.70 crore in Q1 June 2011 over Q1 June 2010.

Ind-Swift Laboratories is a part of the Ind-swift Group. The company manufactures and sells APIs.