GANGA PHARMACEUTICALS LIM Share price

The company was originally incorporated as a private limited company on 11th September 1989. It was subsequently converted into a Public Limited company on 10th August 1994. The company has been promoted by Shri Brij Mohan Sharma an expert in Ayurvedic field having about two decades of experience in manufacturing and marketing ayurvedic products. The company has taken over from 1.4.95 the business of M/S Ganga Pharmaceuticals a Proprietary concern associated with manufacturing and marketing of Ayurvedic products since the last two decades.The company has taken over business of Ganga Pharmaceuticals vide agreement dated 01/04/1995.Ganga Pharmaceuticals is a proprietary concern owned by Shri Brijmohan Sharma who is the promoter of Ganga Pharmaceuticals Limited.The major clauses of which are given below:-1) That the Owner agrees to sell and transfer and the Company agrees to purchase and acquire the business of the owner to manufacture and market Ayurvedic Medicines together with all the moveable assets and liabilities in respect of his proprietary business carried out thus far by him in the name and style Ganga Pharmaceuticals at the networth of the said business as per the Audited Balance Sheet of the Owner as at 31st March 1995.2) That the Owner has agreed to grant unto the company the Land situated lying and being at Village virar Taluka Vasai District Thane and bearing Survey No. 329A Hissa No. 3 (part) containing by admeasurement 442.57 square meters together with the building and structures standing thereon more fully and particularly described in the Schedule hereunder written on lease for a term of 10 years on the terms and conditions hereinafter recorded and the Company has agreed to take the said land and buildings on lease.3) That the Company shall take over the business of the owner with effect from 1st day of April 1995.4) That the company shall be entitled to market all its Ayurvedic Medicines whether produced manufactured or got produced and manufactured on loan license basis or other wise in the Brand name "GANGA" which brand name has been used by the Owner since the commencement of his business in 1974.5) That the owner hereby agrees that with effect from 1st day of April 1995 he shall not market on his own or in partnership or otherwise the said brand name "GANGA" to the company whether patented branded or otherwise.6) That the owner does hereby all his rights on the Brand name "GANGA" to the Company whether patented branded or other wise.13) That the Owner has as a part of the deal and transaction agreed to lease the immovable property that is the land herein described in the Schedule hereunder written together with the buildings and structures thereon for a term of ten years the basic terms and conditions of which lease are as follows :-a) That the company shall deposit with the Owner a sum of Rs.6500000/- (Rs. sixty five lacs only) as a security for the due performance of the terms of lease and delivery of the premises to be leased. b) That the company shall pay to the owner a lease rent of Rs.4500/- (Rs. Four thousand five hundred only) per month.The company has started commercial production from 1.4.95. The company''s products are well established not only in the Indian market but also in the International market and after establishing itself in the market it now proposes to go in for expansion mainly to make full utilisation of the existing expertise to cater to the unsatisfied demand of the existing clients to meet export orders which are normally in large size and to reap the benefits of economies of scale.Present Business of the company:The company is presently engaged in the manufacturing and marketing of Ayurvedic products. The company has takenover the running business of M/s. Ganga Pharmaceuticals a proprietory concern engaged in this field for the last two decades. The company now proposes to expand its capacity for the same products by setting up a new manufacturing facility at Murbad near Kalyan in Thane District.