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Shilpa Medicare Ltd. Company History and Annual Growth Details

Shilpa Antibiotics Ltd was incorporated as a Private Limited Company in November 1987. The commercial production of the Company had started in November 1989. The Company was initially producing Trimethoprim IP/BP, an antibiotic bulk drug. The technology for the bulk drug was developed in house. During the first year of its operation the Company had installed production facilities to manufacture Trimethoprim Apart from selling on its own, the Company had also started manufacturing the product for other reputed Companies like Eskayef Limited, Bombay Drugs
and Pharmas Limited, Bombay Drug House Ltd., US Vitamins Ltd, Sandoz India Ltd etc for their export commitments.

During 1992, the Company had installed production facilities for manufacture of Sodium Methoxide. The technology for the same had also been developed in house. During the same year the Company secured Export orders from Stellar Exports Limited, Glaxo Limited and Deepak Nitrite
Limited for Trimethoprim. Since then the company has started exporting on its own. The Company thus started manufacturing for both export and domestic markets since 1992. It has obtained World Health Organisation-Good Manufacturing Practices (GMP) Certificate. It has also been exporting its products to hard currency areas.

The Company now proposes to embark upon an expansion project which involves the addition of one more bulk drug to its existing product range viz; Norfloxcin and expansion of the production capacity of the existing product of the Company viz; Sodium Methoxide and Trimethoprim. The Company also proposes to manufacture 1-Methyl Amino-1-Methyl Thio-2-Nitro Ethane, a drug intermediate, used in the manufacture of Ranitidine, an anti-ulcer drug. To raise the necessary resources to finance the expansion project of the Company, the Company was converted into a Public Limited Company in November 1993.

As the company's sales are comparatively more in the September to March period, therefore, to reduce the administrative bottlenecks in the timely preparation of annual results, the company changed its accounting year from March end to September end.

Objects of the Company

The relevant objects of the company as set out in the memorandum of association of the company are :

Main Objects

1. To carry on in India or elsewhere the industry, trade or business of manufacturers, Traders, Dealers, Agents, Suppliers, Licensors, Licensees, Loan Licenses, Importers, Exporters, Consultants, Discoverers, Inventors, and Producers of Drugs, Bulk Drugs, Pharmaceuticals, Pharmaceutical Formulations, Alcohol, Bended Laboratory
Preparations, and general medicinal preparation and or their by-products and packing and re-packing of the above.


2007

-Shilpa Medicare Ltd has entered into a memorandum of understanding (MoU) with LOBA Finchemie AG, Austria, to acquire 100% shares of LOBA in an all-cash deal.

- The Company has splits its face value from Rs10/- to Rs2/-.

2008

-Shilpa Medicare Ltd has informed that the Board of Director of the Company has co-opted Mr. Sunki Rajendra reddy S/o. Mr Rajeshwara Reddy as an Additional Director.

-Shilpa Medicare Ltd has informed that the Board of Directors of the Company has co-opted Mr. N P S Shinh S/o. Mr. S Prithipal Singh Shinh as an Additional Director.

2009

- Shilpa Medicare Ltd has informed that the Company has signed a MOU to form a joint venture company to manufacture drugs and pharmaceuticals with ICE S.r.l. and PCA S.p.a. of Italy.
 
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