|HISTORY AND BUSINESS OF THE COMPANY
Granules India Ltd (GIL) was incorporated as a Private
Limited Company on March 16, 1991 and was later converted
into a Public Limited Company on February 8, 1993. GIL
commenced its operations in April 1991 as a merchant
exporter of bulk drugs like Paracetamol, Guaifenesin and
Chloro Pheniramine Maleste. It has been exportingmainly
to the developed markets such as U.S.A., Europe, Mexico and
Hongkong. Since 1992, GIL concentrated on export of
Paracetamol powder, which was procured from a Group
Company, M/s.Triton Laboratories Pvt Ltd (TLPL), a small
scale unit. In 1993-94, the international prices of bulk
drugs like Paracetamol were under pressure and GIL decided
to enter into value added areas.
In April 1993, GIL also joined as a partner of M/s.Triton
Laboratories (TL), a partnership firm promoted by the
promoters in 1985. After GIL became a partner. TL crested
facilities for manufacture of DC blends of Paracetamol and
directly entered into its export market. Later, TL decided
to diversify into manufacturing of bulk drugs and started
implementing a project for the same. In August 1994, as
part of consolidation and restructuring the Group's
operations. TL was dissolved and its assets and
liabilities were taken over by GIL at book value. The assets
were independently valued by Shri S.Deshpande, Chartered
Engineer and approved valuer.
Description Book Transfer Chartered
value value Engineer's
Land & Development *35.54 35.54 39.58
Building 22.42 22.42 # 102.57
Plant & Machinery 13.36 13.36) # 125.10
Others 17.76 17.76)
Capital work-in-progress 174.17 174.17
Investment 5.00 5.00
Total (A) 268.25
Net current liabilities 63.27 63.27
Long term liabilities 0.92 0.92
Total liabilities (B) 64.19
Purchase consideration (A) - (B) 204.06
* The value of land, purchased in 1985 for Rs.88,994 was
revalued at Rs.28,26,980/
- on March 30, 1993 at Government fixed rate of Rs.500/-
per sq. yard and as valued by M/s. M. Raja Rao & Co.,
Chartered Engineers. Registered valuers & Insurance
surveyors. Development cost includes land leveling.
# Includes Capital work-in-progress
Out of the purchase consideration of Rs.204.06 lakhs, the
shares of the partners were as follows: -
GIL - Rs.131.13 lakhs
Sri Krishna Prasad - Rs. 37.47 lakhs
Smt C. Uma Devi - Rs. 35.45 lakhs
Sri Krishna Prasad and Smt C. Uma Devi were allotted
3,74,700 and 3,54,500 equity shares respectively of GIL of
Rs. 10/- each at par in settlement of their share of
partnership as detailed above. In addition to the above GIL
allotted (I) 6,500 equity shares of Rs. 10/- each at par to
Smt. C. Uma Devi in settlement-of rental dues for the
years 1992-93 and 1993-94 and (ii) 2,600 equity shares to
Dr. C. Hariprasad, 1,500 equity shares to
Dr. C. Nageswara Rao and 5,000 equity shares to Smt R.
Santisree, all these of Rs. 10/- each and issued at par
towards the long term liabilities taken over from the
partnership firm as detailed above.
GIL has also purchased the assets of a sick unit from the
Andhra Pradesh State Financial Corporation (APSFC) on
March 30, 1994. This unit was manufacturing bulk drugs.
The assets comprising of land, buildings and plant and
machinery were purchased for Rs.35 lakhs, by availing term
loan from APSFC (Rs.22.75 lakhs) and own funds (Rs.12.25
lakhs). These assets are not presently used and are
earmarked for future expansion needs of the company
GIL is now implementing the ongoing project taken over from
TL and is exporting DC blends of Paracetamol of
international pharmacopial standards from September 1,
1994. Trial production of Folic Acid commenced in November,
1994 and commercial production in August 1995.
The list of GIL's clients include M/s.Roussel Corporation,
Helm New York Chemical Corporation and Granutec all of
U.S.A, Welding GMBH & Co of Germany and Flavine Espana S.A.
-Granules MD Mr C. Krishna Prasad bags Udyog Rattan and Excellence Award
-Granules India Ltd (GIL), has announced that its new plant at Gagillapur has successfully gone through first International Regulatory audit by the German Health Authority. The German approval enables it to export its products to Europe and significantly enhance its presence in these markets.
-Granules India Gagillapur Facility successfully goes through Audit by German Health Authority
-Granules India Ltd has informed that pursuant to the approval of the shareholders at the EGM held on September 25, 2004 to issue up to US $ 15 million Global Depository Receipts, each representing one equity share of Rs 10/- each in the share capital of the Company, the GDR issue was opened on January 13, 2005 and closed on January 19, 2005.
Granules India Ltd on October 12, 2006 has announced that it has signed a Memorandum of Understanding (MoU) with Hubei Biocause Heilen Pharmaceutical Company (Biocause) of China.
-Granules India signs MOU with PharmaMatch B.V.
-Granules forges alliance with GSK Healthcare R&D.
-Granules India Ltd has appointed Mr. Stephen R Olsen as an Additional Director of the Company at the Board Meeting held on June 02, 2007.
-Granules India Ltd has informed that the Board of Directors of the Company at its meeting held on July 31, 2008, inter alia, has appointed Mr. Nelson David Corda as Alternate Director.
- Granules India Ltd has informed that Mr. Comandur Parthasarathy be appointed as an Additional Director of the Company, pursuant section 260 and the applicable provisions of the Companies Act, 1956.
- Granules India Limited, a fully integrated pharmaceutical manufacturer headquartered in Hyderabad, bagged the prestigious 'Fastest Emerging Company from India' Award in the APIs & Intermediaries category at the inaugural Indo-Africa Pharma Business Meet hosted by Pharmcxcil.