SMRUTHI ORGANICS Share price

:The Company was incorporated on 11th July 1989 as aPrivate Limited Company and subsequently converted into aPublic Limited Company on 28th February 1995. The Companywas originally registered as a Small Scale Industrial unitvide Reg. No. 11-23- 03467-PMT-SSI dated 16.2.91 with theGovernment of Maharashtra Director of Industries.The Company has set-up a unit at MIDC Indl. Area SolapurMaharashtra and started commercial production in February1991 for manufacturing of Bulk Drugs viz. DiloxanideFuroate (DF) (Capacity of 24 MT p.a.) and Sulphadiazine(capacity of 36 MT p.a.). The Company thereafter expandedits activities in 1993-94 and the Company expanded itsproduct range by manufacturing Bulk Drugs viz.Metronidazole Benzoate Tinidazole Paracetamol andNorfloxacin. The MSFC granted three loans to the companyfrom time to time during 1991-94 aggregating Rs. 96.00lakhs of which the present outstanding is Rs. 66.54 lakhsas on 31-8-95. The Company from time to time phased out some of the lowvalue products and is presently manufacturing the followingBulk Drugs viz. (i) Norfloxacin(ii) Diloxanide Furoate (DF)(iii) Furoic Acid.Since incorporation the Company has manufactured variousBulk Drugs from time to time the details of installedcapacity and utilisation thereto during last 4 years are asunder:- 1991-92 1992-93 1993-94 1994-95Installed Capacity 60 60 84 120(In Tonnes)Utilized Capacity 82 82 85 91(in %)The Company is registered as Exporter under Export Code No.JC/PUNE/IEC/328/92-93/366 dt. 4-9-92 and has made its debutin the export market in May 1994 by exporting one tonnesof Furoic Acid to U.K. The Company has achieved exportsales of Rs. 40.41 lacs till 31st March 1995. The FuroicAcid manufactured by the Company has good demand in U.K.market. Considering the demand potential in Bulk DrugsIndustries the Company decided to expands the scope of itsproduct range and proposed to set up an additionalfacilities at Plot No. A-27 MIDC Indl. Area ChincholiSolapur Maharashtra for manufacture of additional drugsviz. Ciprofioxacin and Ranitidine HCL and has obtainedacknowledgment for its expansion project from the Ministryof Industry Department of Industrial DevelopmentSecretariat for Industrial Approvals Government of Indiavide acknowledgment letter No. 125/SIA/TL/95 dated 10.3.95and will be operating as a medium sized unit outside thepurview of SSI after the proposed expansion.