AURO LABORATORIES Share price

Auro Laboratories Limited was incorporated as a PrivateLimited Company on 26th May 1989 with the Registrar ofCompanies Maharashtra at Bombay. Later on the Company hasbeen converted into a Limited Company on 13th January 1994vide resolution dated 21st September 1993. The Company ispromoted by Shri Sharat Deorah and Shri Satish Deorah.After incorporation the Company took all effective steps toset up the manufacturing facilities at Tarapur Maharashtraby acquiring on lease a suitable plot of land at MIDCIndustrial Area and with the aid of State Industrial &Investment Corporation of Maharashtra (SICOM) & MaharashtraState Finance Corporation (MSFC). The Company wassuccessful in implementing the project and started itscommercial production on 14th July 1992. The Company isengaged in the manufacturing and trading of TRIMETHOPRIM(lP/BP/USP) a bulk drug. TMP is an antibacterial drug andis used in combination with SULPHAMETHOXAZOLE (SMX). Theplant of the Company is located at K-56 MIDC IndustrialArea Tarapur Boisar Dist. Thane Maharashtra withproduction capacity of 60 TPA of TMP. The Company ismanaged by the Board of Directors which includes wellexperienced businessmen and professionals Shri SharatDeorah the Promoter-Director of the Company is theManaging Director. He possesses experience of variousbusiness activities for more than 2 decades. This includesroad transport tea warehousing and manufacturing andexports of bulk drugs. Shri Satish Deorah is the youngerbrother of Shri Sharat Deorah. He too holds experiencespanning over more than 17 years in the business activitiesof transport tea warehousing and manufacturing and exportsof bulk drugs. Shri Sharat Deorah is stationed at Bombaywhereas Shri Satish Deorah at Calcutta.The Company is now planning to undertake the project forexpansion of production capacity of TMP from the existing60 TPA to 200 TPA. Besides the Company is also planningfor backward integration by commencing the production of3-4-5 TRIMETHOXYBENZALDEHYDE (TMBA) which is the basic rawmaterial for the production of TMP. The Company has alreadyreceived the Letter of Intent for the production of 3-4-5TMBA vide the Letter of Secretariat for IndustrialApprovals Dept. of Industrial Development Ministry ofIndustry Govt. of India bearing No. LI:34 (1994) dated11th January 1994. The Company has further made anapplication to the Central Government for the amendment ofthe licence with respect to increase in the productioncapacity of 3-4-5 TMBA. The plant will have a capcity of175 TPA of the production of 3-4-5 TMBA from 275 TPA ofGallic Acid which will be consumed entirely by theCompany. Out of the total production 50% of TMP would beexported During the year 1993-94 the Company made exportworth Rs. 45 lacs and is planning to achieve an exporttarget of Rs. 1.50 crores during the current year.So far the Company has been involved in the manufacturingand trading of TMP a bulk drug. One of the groupcompanies Auro Impex Private Limited has a very successfultrack record in the exports of bulk drug items. With a viewto reap benefits of the backward integration the Companyis now planning to commence manufacturing of 3-4-5 TMBA.MAIN OBJECTSThe main objects of the Company as set out in itsMemorandum of Association are as follows :1. To manufacture process derive buy sell importexport or otherwise deal in pharmaceutical medicinaldiagnostic antibiotic antiseptic disinfectants opticalbiological immunological therapeutic and healthcareproducts preparations compounds and intermediates.2. To manufacture process derive buy sell importexport or otherwise deal in cosmetics whether herbal orotherwise hair skin nail or other beauty preparationsperfumes aromatic chemicals toiletories deodorants hairdyes and hygienic house hold consumer products.