Elder Pharmaceuticals, one of leading pharmaceutical companies, has made major pending statutory payments of TDS, provident fund, ESIC, Maharashtra Labour Welfare Fund (MLWF) etc to the tune of roughly Rs 260 million.

Elder Pharmaceuticals, which was going through an erratic cash flow situation since quite some time and plans to clear the backlog of other payments very soon. Elder is also in talks to raise fresh funds through a combination of debt or debt cum equity in order to improve its cash flow and performance.

In view of the growth in sales of its pharma & OTC products recently, the company s anticipating regulate cash infusion which will contribute to its working capital, regular expenses and debt retirement needs.

Shares of the company gained Rs 3.2, or 2.93%, to settle at Rs 112.40. The total volume of shares traded was 18,977 at the BSE (Wednesday).