SHILPA MEDICARE Share price

Shilpa Antibiotics Ltd was incorporated as a PrivateLimited Company in November 1987. The commercialproduction of the Company had started in November 1989.The Company was initially producing Trimethoprim IP/BP anantibiotic bulk drug. The technology for the bulk drug wasdeveloped in house. During the first year of its operationthe Company had installed production facilities tomanufacture Trimethoprim Apart from selling on its own theCompany had also started manufacturing the product forother reputed Companies like Eskayef Limited Bombay Drugsand Pharmas Limited Bombay Drug House Ltd. US VitaminsLtd Sandoz India Ltd etc for their export commitments.During 1992 the Company had installed productionfacilities for manufacture of Sodium Methoxide. Thetechnology for the same had also been developed in house.During the same year the Company secured Export orders fromStellar Exports Limited Glaxo Limited and Deepak NitriteLimited for Trimethoprim. Since then the company hasstarted exporting on its own. The Company thus startedmanufacturing for both export and domestic markets since1992. It has obtained World Health Organisation-GoodManufacturing Practices (GMP) Certificate. It has alsobeen exporting its products to hard currency areas.The Company now proposes to embark upon an expansionproject which involves the addition of one more bulk drugto its existing product range viz; Norfloxcin and expansionof the production capacity of the existing product of theCompany viz; Sodium Methoxide and Trimethoprim. TheCompany also proposes to manufacture 1-MethylAmino-1-Methyl Thio-2-Nitro Ethane a drug intermediateused in the manufacture of Ranitidine an anti-ulcer drug.To raise the necessary resources to finance the expansionproject of the Company the Company was converted into aPublic Limited Company in November 1993.As the company''s sales are comparatively more in theSeptember to March period therefore to reduce theadministrative bottlenecks in the timely preparation ofannual results the company changed its accounting yearfrom March end to September end.Objects of the CompanyThe relevant objects of the company as set out in thememorandum of association of the company are :Main Objects1. To carry on in India or elsewhere the industry trade orbusiness of manufacturers Traders Dealers AgentsSuppliers Licensors Licensees Loan Licenses ImportersExporters Consultants Discoverers Inventors andProducers of Drugs Bulk Drugs PharmaceuticalsPharmaceutical Formulations Alcohol Bended LaboratoryPreparations and general medicinal preparation and ortheir by-products and packing and re-packing of the above.