COLINZ LABORATORIES Share price

The company was incorporated as a PrIvate Limited Companywith the Registrar of Companies Maharashtra Bombay inOctober 1988 under the name Colinz Laboratories PrivateLimited and converted into a public limited company on 8thNovember 1994 and certificate for change of name was obtainedon 5.1.95. The Company has its existing manufacturIng facilities atRaja Industrial Estate Mulund where it is manufacturIng tabletsand capsules. The company manufactures its liquid oral productson loan licence basis from other manufactures. The companystarted its Manufacturing operations in April 1988 and commencedits marketing operations on a low key with 10 field staff in July1988.The present factory of the company is situated in Raja IndustrialEstate Mulund. The Industrial Estate has a total of 188 galashousing a number of manufacturIng units. The estate has all theinfrastructural facilities.The company owns a gala admeasuring 2000 ft in this estate. Inaddition the company also has taken on lease for a perIod of tenyears from Mr. L.S. Mani the chief promoter another gala in thesame industrial estate admeasuring 422 sq ft. with an additionalopen terrace of 578 sq.fi. on a deposit of Rs. 10 lacs and monthlylease rent of Rs. 3000 with an annual increase of 10% in themonthly compensation amount.The Company markets it products through ethical sales throughthe chain of Regional Managers/Area Managers/ Medical SalesRepresentatives (MSRs) and Stockists. Marketing activities werekept at a low key until 1991-92 considering the expensesrequired to be incurred in consumer marketing and particularly inethical pharmaceutical selling where samples to the doctors andsalaries to the sales staff are of high order. However theCompany took a bold decision to operate with at least certainlimited areas from 1991-92 and it established a network of 50Medical Representatives and about 10 managers. Therefore inthe real sense reasonable size of marketing operations werestarted by the Company only in 1991-92.During the year 1992-93 and 1993-94 the Company tested thecapacity of its field strength by marketing high volume low marginproducts. The company registered substantial jump in sales inthese two years with operations in a very limited area and withthe help of only 50 MSRs.The company''s main formulations are for Gynecologicalapplications. The company''s main product "Pantoplex" is wellaccepted and enjoys considerable market share in the areasalready being marketed and accounts for 50% of the currentturnover of the company.