The Company was incorporated on 26th June, 1986 as a private limited Company as Principle Marketing Group Pvt.Ltd vide Certificate of Incorporation No.40232 of 1986 dated 26th June, 1986 issued by Addl. Registrar of Companies, Maharashtra, and subsequently the Company became a deemed Public Company on 10th March 1992 as a result of acquiring more than 25% of the share of a public limited Company. Meanwhile, the Company converted itself as a regular public company by complying with requirements of Section 31 and 44 on 18th April, 1992. The name of the Company was changed to Principal Pharmaceuticals & Chemicals Limited.
Presently Company is engaged in marketing of various bulk drugs and intermediates like Analgesics, Antipyretics, Antibiotics, Antibacterial etc. The existing marketing activities are carried out by the Company's marketing division called Principal Marketing Group (PMG). The Company has already established a sound marketing base with a net work of more than 100 customers, which are likely to cross 500.
During the year 1998-99, the Company had implemented a small expansion cum backward integration. The Company has identified 4 new products to be manufactured and trials of 2 products have been successfully completed.
The company has created its place in as one of the largest manufacuturers of Beta-Blockers (cardiovascular segment) in India. Also, during the year the company has promoted a marketing tool named `World Chem Net.Com' which is basically a e-biz site (B2B) for doing online trading in pharmaceuticals and chemicals.