BROOKS LAB Share price

Our Company was incorporated vide a Certificate of Incorporation dated January 23 2002 bearing CIN No. U24232PB2002PLC24910 under the Companies Act 1956 with the name ?Brooks Laboratories Limited? by our promoters Mr. Atul Ranchal & Mr. Rajesh Mahajan. We received our certificate of commencement of business on February 19 2002 from the Registrar of Companies Punjab Himachal Pradesh & Chandigarh at Jalandhar. Our Company was initially promoted for manufacturing of latest molecules in Injectables tablets and dry syrups for the domestic customers. Our Company set up a facility for manufacturing Tablets Dry Syrup and Injectables which was supported by a research and development ("R&D") centre at Baddi Himachal Pradesh. Our Company started its commercial production in the month of June 2006. Our Company became profitable from the very first year of its production. This facility at Baddi is WHO-GMP and ISO 9001:2008 certified. The facility focuses on developing latest molecules in the niche segments and then selling it to various pharmaceutical marketing Companies. Before staring our company our promoters were engaged in manufacturing of Pharmaceutical Formulations in their partnership firm namely Brooks Pharmaceuticals. The firm had a manufacturing facility at F-94 Industrial Area Phase 7 Mohali Punjab. The factory at Mohali had annual installed capacity of 30 Lacs Injectables 300 Lacs Tablets and 15 Lacs Dry Syrups. Our promoters had a successful track record of running the manufacturing of formulations in the aforesaid firm profitably for over 6 years. In order to take an advantage of the growing market and avail the tax and other benefits that were made available by the Government to set up a manufacturing facility at Baddi our promoters decided incorporate our company Brooks Laboratories Ltd and set up a bigger and more sophisticated unit at Baddi in Himachal Pradesh. Subsequently the firm was dissolved in the month of December 2008. Further in years 2007 and 2008 to have a smooth transition from Brook Pharmaceuticals to Brooks Laboratories Ltd. Our Company paid/settled some dues to Creditors and Lenders of Brooks Pharmaceuticals aggregating to Rs. 151.79 Lacs. Later on to settle the above our Company purchased on book value certain assets (Fixed assets & Stocks) aggregating to Rs. 113.27 Lacs and received an aggregate sum of Rs. 38.52 Lacs from M/s. Brooks Pharmaceuticals a partnership firm promoted by our Promoters Mr. Atul Ranchal and Mr. Rajesh Mahajan. Key Events and Milestones January 23 2002Incorporation of Brooks Laboratories Limited. February 192002Received certificate for commencement of business May 5 2005Commenced setting up of manufacturing facility at Baddi Himachal Pradesh. April 102006 Manufacturing drugs license issued by the State Drugs Controlling and Licensing Authority HP. April 30 2005Commissioning of R&D centre at Baddi May 202006 Completion of Commissioning of plant for manufacture of Tablets capsules Injections Oral Liquids etc.May 30 2006Start of commercial production June 1 2006First PPI Formulation developed by the Company. October 272006 Obtained Import license from Drugs Controller General of India under the Drugs Act 1940 and Drugs Rules. August 02 2007 Received an AS/NZS ISO 9001:2000 Certificate from SAI Global Certification Services Pty Limited Australia. April 30 2008* Takeover of some of the Assets of M/s Brooks Pharmaceuticals a partnership firm of Our Promoters Mr. Atul Ranchal & Mr. Rajesh Mahajan by our Company. December 30 2008 Dissolution of M/s Brooks Pharmaceuticals a partnership firm of Our Promoters Mr. Atul Ranchal & Mr. Rajesh Mahajan. January 062009 Micro Small Medium Enterprise (MSME) Registration Certificate issued by Directorate of Industries for Manufacturing/Assembling Injections Capsules & Tabulates (Single Window Clearance Agency). April 72010 The manufacturing facility at Baddi was certified as WHO GMP compliant by Department of Health & Family Welfare HP. July 272010 Received an ISO 9001:2008 Certificate from UKAS Quality Management URS & IAF.