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Mangalam Drugs and Organics Ltd. Company History and Annual Growth Details

A. HISTORY AND BACKGROUND

Mangalam Drugs & Organics Limited (Mangalam) is a part of the Mangalam
Group, promoted by Dhoot family in 1972 as Advent Pharma Private
Limited with a view to set up a plant for manufacture of organic and
inorganic chemicals. On April 1, 1996 three other group companies i.e.
Mangalam Organics Private Limited, Shree Mangalam Pharma Private
Limited and Mangalam Rasayan Private Limited were merged with Advent
Pharma Private Limited. Under the scheme of arrangement approved by the
Honorable High Court, Mumbai and Gujarat, the entire chemical division
of MOPL, MRPL and SMPPL was transferred to and vested in MDOL as a
going concern free from all encumbrances and on that basis MDOL issued
one fully paid equity share of MDOL for every twenty fully paid equity
shares of MOPL, twelve fully paid equity shares of MDOL for every five
fully paid equity shares of MRPL and twenty-seven fully paid equity
shares of MDOL for every five fully paid equity shares of SMPPL to the
share holders of MOPL, MRPL and SMPPL respectively. Subsequent to this
merger, the name of Advent Pharma Private Limited was changed to
Mangalam Drugs and Organics Private Limited. In September 1997, it
became a deemed public limited company in terms of Section 43A of the
Companies Act, 1956. In 2001, the company was converted into a full
fledged public limited company in terms of Special Resolution passed on
August 10th, 2001.

The company has a state of art multi-product manufacturing facilities
at Vapi in Gujarat and Sangamner in Maharashtra for production of bulk
drugs, perfumery chemicals, inorganic chemicals and disperse dyes
intermediaries with a strong in-house Research and Development base.

MDOL is an ISO 9001 certified company, with a WHO GMP Certificate
(since expired, has applied for renewal) for its bulk drugs
manufacturing plant, implying that the company carries out good
manufacturing practices, which is an important tool for promoting its
exports. It enjoys a strong brand name in the domestic market with over
three decades of experience in the industry with a wide and satisfied
customer base.

Company's manufacturing facility at Plot No. 187, Vapi has received
Certification of Suitability dated 27th September 2004, from European
Directorate for the Quality of Medicine (EDQM) for the production of an
existing product, Nimesulide.

In the year 2003-2004, the bulk drug production capacity of the Company
was increased from 350 MTPA to 600 MTPA. During the current year, the
capacity is being further enhanced to 960 MTPA.Presently various bulk
drugs, other drug intermediates and specialty chemicals such as
Nimesulide, 4-M.E.P., Oranger Crystals and DTDBA are being produced in
the production facilities The cost pf expansion of capacity is Rs.975
lacs and the same would be financed through internal accruals/unsecured
loans from promoters to the tune of Rs.325 lacs and balance amount of
Rs.650 lacs being financed by Term Loan from State Bank of India. The
said term loan has been sanctioned by SBI and the company has commenced
drawal of funds.

The company with its proven R & D process, has the ability to improve
processes through process innovation, enhance process yields, thereby
reduce costs, coupled with flexible production process, places it in a
position of strength to cater to the requirement of its customers under
one roof. Thus, the company has been able to carve a place for itself
in the segments it is operating in.

There exists an extremely good market for Anti-Malarial Drugs and
Aluminium Chloride being produced by the company. It intends to take
advantage of the estimated demand supply gap in the market and
capitalize on its present strengths in quality, experience and
reputation. The Company has a stable and well-established customer base
and flexible distribution network for its products. Recently, the
Government of India has imposed an anti-dumping duty on import of
Chloroquine Phosphate vide their Notification No. 14/3/2003- DGAD dated
15th July, 2004, which is likely to result in a major surge in demand
for the product in the local market.

Vision, Mission, Quality Policy & Core Values:

Vision:

* To Be a well respected company in the businesses and geographies we
operate in and

* To Become an admired bulk - drugs (API) manufacturing company with
strong focus on research.

Mission:

To achieve growth in business by

* Attaining globally competitive cost levels
* Enhancing the value we deliver to stakeholders
* Commitments to corporate responsibility

Employees are our strength and we will create an environment that
fosters achievement, innovation and teamwork.

Quality Policy:

Mangalam is committed to customer satisfaction by offering quality
products and services meeting their specifications and expectations at
competitive prices by customer - employee - vendor in involvement and
adopting GOOD MANUFACTURING PRACTICES AND QUALITY MANAGEMENT SYSTEMS.

It aims to create and maintain safe and healthy working conditions,
protect the environment, strive for continual improvement of our
personnel, quality and processes of products and meet regulatory
requirements.

Core Values:

* Excellence
* Innovation
* Fairness
* Transparency
* Encouraging Initiative

Key Strengths:

* Existing company with three decades of experience and expertise in
its field

* An established brand name

* In-house manufacturing facilities with the state of art process,
quality control and R & D

* Availability of Pilot Plant

* Proven leadership

* Extensive Marketing network in India and abroad

* Proven R&D capabilities to develop efficient and cost effective
process

* ISO 9001 certification and WHO-GMP* Certification for CQP Plant at
the Vapi facility

* Certification of Suitability from European Directorate for the
Quality of Medicine (EDQM) for the production of an existing product,
Nimesulide

* WHO GMP Certificate has expired and the company has applied for
renewal of the same.

PRODUCTS AND SERVICES

Products Manufactured by the company are:

BULK DRUGS & INTERMEDIATES

A] ANTIMALARIAL

CHLOROQUINE PHOSPHATE I.P./B.P.
CHLOROQUINE SULPHATE I.P./B.P.
AMODIAQUINE HCL USP/IP
AMODIAQUINE BASE USP

B] ANTIANALGESIC
NIMESULIDE E.P./B.P.

C] INTERMEDIATES
4, 7, DICHLORO QUINOLINE
4 METHOXY ETHYL PHENOL
META CHLORO ANILINE
SUCCINIMIDE
ORTHO PHENOXY ANILINE
ORTHO PHENOXY METHANE SULFONYL ANILIDE
3, 4 DICHLORO NITROBENZENE
ORTHO METHOXY TOLUENE
4 (2-AMINOETHYL) MORPHOLINE
PHENYL ETHYL CHLORIDE

INORGANIC/ORGANIC CHEMICALS

ALUMINIUM CHLORIDE (ANHYDROUS)
PHENOXY ETHANOL

PERFUMERY CHEMICALS

PHENYL ETHYL ALCOHOL
PHENYL ETHYL METHYL ETHER
PHENYL ETHYL ACETATE
ORANGER CRYSTALS (METHYL BETA NAPHTHYL KETONE)

SPECIALITY CHEMICALS

N.N-BIS (2-HYDROXY ETHYL) META TOLUIDINE. (MANGALAM-2)
N-ETHYL-N-HYDROXY ETHYL-ANILINE. (MANGALAM-15)
N-HYDROXY ETHYL-N-ETHYL META TOLUIDINE (MANGALAM-21)
N.N.BIS (2-HYDROXY ETHYL) -PARA TOLUIDINE (MANGALAM-25)
N.N-BIS (2-HYDROXY PROPYL)-PARA TOLUIDINE. (MANGALAM-26)

DISPERSE DYE INTERMEDIATES
BY PRODUCTS

ALUMINIUM CHLORIDE (SOLUTION)
TRISODIUM PHOSPHATE
SODIUM THIO SULPHATE

PRODUCTS UNDER DEVELOPMENT
TRICLOSAN
TRICLORO CARBANILIDE
AVO BENZONE
OCTYL METHOXY CINNAMATE
4 HYDROXY PHENYL ETHYL ALCOHOL
META HYDROXY ACETOPHENONE
ARTISUNATE
ARTIMETER
ARTIETHER

The company is supplying its products to Indoco Remedies Ltd..Nicholas
Piramal India Ltd, May (India) Laboratories Ltd, Bayer Pharmaceuticals,
Unicure (India) P. Ltd, Cipla The Karnataka state Agarbatthi etc.,to
name a few.

Key milestones

Key milestones of Mangalam over the years are set out below:

Year Milestone

1977 First plant for Manufacture of perfumery chemicals at
Plot No. 187, GIDC, Vapi was started under the name
'Advent Pharma Pvt. Ltd.' (APPL)

1981 A new plant under the name 'Mangalam Rasayan Pvt. Ltd.'
(MRPL) was commissioned for manufacture of
Anhydrous Aluminium Chloride

1984 A new plant was commissioned under the name 'Shree Mangalam
Pharma Pvt. Ltd.' (SMPPL) where higher manufacturing capacity
of Aromatic Chemicals was created.

1984 The facilities in APPL was re-organised to manufacture the
first 'Bulk Drug' in the group namely 'Metronidazole
I. P.'

1985 The capacity of Anhydrous Aluminium Chloride was doubled

1987 Inorganic chemicals manufacturing capacities were expanded by
putting up a new plant at Sangamner under the
name 'Mangalam Inorganics Pvt. Ltd.' (MIPL)

1989 A new plant was erected to manufacture Dyes Intermediates at
Plot No. 1203, IIIrd Phase, GIDC, Vapi under the
name Mangalam Organics Private Ltd. (MOPL)

1991 Additional manufacturing capacity for perfumery chemicals was
created under new plant of SMPPL

1994 A New Plant was commissioned for manufacturing of Meta Chloro
Aniline under MRPL

1997 Scheme of arrangement between SMPPL, MOPL and MRPL by
transferring their entire Chemical Division to
Mangalam Drugs & Organics Ltd.

1999 A new product namely 'Nimesulide' was launched from Plant at
Plot No. 1203.

2001 Two new products namely Amodiaquine Hydrochloride and
Amodiaquine were launched from Plant at Plot No.1203.

2002 WHO-GMP approval for Chloroquine Phosphate I.P./B.P.

2002 Awarded ISO-9000-2000 Management System Certificate from DNV.

2003 WHO-GMP approval for Amodiaquine Hydochloride and
Amodiaquine U.S.P.

2003 Awarded ISO-9000-2000 Management System Certificate from DNV.

2005

- Mangalam Drugs and Organics Ltd (MDOL) files prospectus with Securities Exchange Board of India to raise Rs 14.3 crore through a public issue to fund its expansion plans and support its growth in the anti-malarial segment. The offer is for 65,00,000 shares of Rs 10 each at a price of Rs 22 and will remain open from April 19 to April 26.

- Shares of Mangalam Drugs & Organics Ltd made their debut on the Bombay Stock Exchange at Rs 30, higher than the issue price of Rs 22 on May 23.

2009

- Mangalam Drugs & Organics Ltd has informed that Mr. Mukul Sukhani has been appointed as Additional Director on the Board of the Company with effect from July 27, 2009. He will be Independent and Non-executive director of the Company.
 
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