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Amar Remedies Ltd. Company History and Annual Growth Details

Amar Remedies Limited is a profit making Company having business of
manufacturing and marketing of toothpastes, toothpowders, balm and
pain relief ointment.

Our Company was originally incorporated as a private limited company
under the provisions of the Companies Act on April 18, 1984 as 'Swami
Aushadhalaya Private Limited' and subsequently the name of our Company
was changed to 'Amar Remedies Private Limited' on September 5, 1995
and subsequently to 'Amar Remedies Limited' on September 6, 1995.

Incorporation

Amar Remedies Limited is a profit making Company having business of
manufacturing and marketing of toothpastes, toothpowders, balm and pain
relief ointment.

Our Company was originally incorporated as a private limited company
under the provisions of the Companies Act on April 18, 1984 as 'Swami
Aushadhalaya Private Limited' and subsequently the name of our Company
was changed to 'Amar Remedies Private Limited' on September 5, 1995 and
subsequently to 'Amar Remedies Limited' on September 6, 1995.

OUR HISTORY

1984-89

The objective to start our Company was to research extensively in
ayurveda. We started researching for ayurvedic medicines not available
in the markets and for cure of extreme diseases. For the first 5 years,
we focused mainly on R&D. In the process, Mr. P Shah set up the first
manufacturing facility at Surat. The first breakthrough for our Company
was in research of oral care products. During this period, we
constantly tried out various methods of manufacturing of oral care
range of products. We were successful in launching our first product in
the year 1989. The product was toothpowder under the brand name 'AMAR'.
It was the first product launched by our Company and therefore a lot of
marketing planning was to be done. The product proved its efficacy but
could not create volumes in sales as toothpowder over all was a slow
market and most of the new generations were opting for toothpaste. At
the same time the product was not very price competitive as it was made
with the finest herbs and had medicinal value. Therefore the sales
could not bring in the desired volumes and our Company started looking
out for possibility of developing the same formulation in toothpaste.
There were lots of problems in trying to stabilize the formulation of
the toothpaste as various herbs had to be put in and at the same time
it had to be manufactured without using any ingredients derived from
animals.

1989-94

We continued our focused R&D on toothpaste and developed effective
ayurvedic vegetarian toothpaste under the brand name 'AMAR'. In those
days, toothpaste manufacturers were using gelatine as one of their
ingredients because of which the toothpaste was non-vegetarian. Our
toothpaste was successful in developing a formulation, which was
gelatine free. This was a breakthrough and hence AMAR toothpaste was
launched in the markets of Gujarat for the first time in 1991. This
was just test marketing, as we were new in selling toothpaste and
needed to study consumer behaviour. It took us almost 2 years to study
and to conclude targets for launching toothpaste in various areas of
India. Therefore after making the necessary changes, we launched
extensively in the western markets of India, i.e. Maharashtra, Gujarat
and Madhya Pradesh in the year 1994 and set ourselves ambitious sales
targets for toothpastes under various brands.

1994-99

In the year 1995 Mr. Sagar P Shah joined our management. He was to
focus on marketing, as effective marketing strategy was required to
have nation wide presence and build the corporate image parallely to
regular focus on R&D. During the year 1998 we decided to have brand
extension and launched AMAR regular and named the earlier toothpaste as
'AMAR Strong'. Making variation in addition of active ingredients made
them different from each other. This was done keeping in mind the
competition and to give new consumers an option. Doing this we expected
more volumes, which were achieved in due course. At the same time we
were very successful in our R&D in ayurvedic medicines. We had
finalized the formulation for 24 different products, which would cover
cosmetics and health care. This gave the company a chance to diversify
into ayurvedic medicines, which had started picking momentum in the
domestic markets and the foreign markets as alternative treatment.

1999-2004

During this period, we transformed our family run business into a
professionally managed company. We also explored the possibility of
exporting our toothpastes. The first sale to intermediate trader was
made in November 2001. We received encouraging response and therefore
decided to set up another factory in Daman. In the year 2001, we
finished our final work at our newly made Daman plant and inaugurated
in June 2001. The reason for setting another manufacturing unit in
Daman was the tax benefits offered by the government, which gave it an
edge in marketing. Further, Daman had better infrastructure available
at that point of time, in terms of Power supply, water, transportation
and labour. In exports it benefited us as Daman is closer to the Port
from where most of the shipments were made. This reduced the freight
cost for the exporters also. We achieved success in selling to traders
in African countries like, Nigeria, Ghana, Sudan, and Tanzania and also
in countries like Dubai & Panama and as a result volumes doubled.
During this period only, we decided to shift our existing operations of
Surat to Daman keeping in view the advantages available in Daman. We
increased our capacities in the meantime and started producing more
varieties of toothpastes for different segments. We were successful in
developing various brands of toothpaste and by the end of this period
we were manufacturing more than 29 different brands including its
variants. This was very significant as it put the turnover of the
company to more than double compared to previous years. The company
also got a major exposure of foreign markets and learnt the selling &
distribution methods of each market.

During this time, we also manufactured and launched Pain Balm and
Get-Up but we got more & more occupied in selling toothpaste which was
giving us immediate response and therefore in Daman we could not focus
on any other products then toothpaste. All these facilities were set up
and expanded from our own internal accruals. Recently, we have expanded
our capacities of toothpaste to more than 35% of the current capacity
to cater the ever-growing market demand. We had not taken any term loan
facilities from any banks or financial institutions during the last 20
years period.

2007

-Amar Remedies Ltd has appointed Mr. Yusuf Iqbal Yusuf as an additional director of the Company w.e.f. August 30, 2007.

2010

- Amar Remedies Ltd has appointed Mrs. Preeti Balwantrai Desai and Mr. Jyotirmay Prakash Varma as an Additional Director of the Company w.e.f. June 22, 2010.

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