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The Indian drugmaker is planning to spend as much as Rs 1,500 crore over the next two months to expand its production capacity, its CEO Satyanarayana Chava told Bloomberg in an interview.

“We have a good visibility of orders going forward and this large capital outlay will help us meet the needs of the customers,” Chava said.

The company's net profit in the second quarter rose nearly fourfold to Rs 243 crore.

The stock is the top performer in the Indian equity markets this year, with gains of nearly 350%.

Chava said that the capex will help double capacity for its formulations business and also raise the capacity for its API business by 50%.

The capex will be funded by a mix of internal accruals and some external debt.