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Smruthi Organics Ltd. Company History and Annual Growth Details
-Smruthi Organics a bulk drug manufacturing company has decided to expand its product range by the introduction of Ciprofloxacin (antibiotic) and Ranitidine HCl. To part finance this project the company is entering the capital market on December 4th with a public issue of 18 88 550 lakh equity shares of Rs. 10 each at a premium of Rs. 5 per share.
- The Company's Block No C and D being dedicated for exports and received 100% EOU status permission from the Development Commissioner, Seepz, Mumbai and started the activities.
- The Company has created new facility i.e.; additional production plant viz. 'E' Block' at the Company's Factory No. Unit II Plot No A-27, MIDC, Chincholi, Solapur has commenced the commercial operation as an Export Oriented Unit.
- The Board of Directors have recommended a dividend of 25% for the financial year.
- The Company has been accredited the Current Good Manufacturing Practices - World Health Organization (cGMP - WHO) certificate from German Health Authorities (Landesamt fur Gesundheist and Soziales Berlin, Germany) for Active Pharmaceutical Ingredients (API) viz. Norfloxacin, Carbidopa and Metformin Hydrochloride for the European Union.
- "Amlodipine Besilate (API)" has been granted Certificate of Suitability (COS) by European Directorate from the Quality of Medicines and Healthcare (EDQM). This recognition shall immensely help the Company to Enter EU Regulatory business in EU Countries.
- Smruthi Orga - Manufacturing site U-II received USFDA approvals.
- Recommendation of Dividend @ 25% on Equity Shares i.e. Rs. 2.50 per share.
- The Board of Directors has recommended a dividend of 30% on Equity Shares of Rs. 10/- each for the year.