SMS Lifesciences India Ltd

SMS Lifesciences India Ltd

The Company was incorporated originally as Potluri Real Estate Private Limited on 31May 2006 for undertaking the activities of real estate business and the Company could not commence business activities andthe company's name has been changed to Potluri Packaging Industries Private Limited on 6 November 2013. The Company could not undertake any such activities once again the company's name has been changed to SMS Lifesciences India Private Limited on 4 August 2014 to undertake the activities related pharma sector. The Company has become a wholly owned subsidiary company of SMS Pharmaceuticals Limited w.e.f. 01.04.2016. Subsequently converted into a Public Company under the Companies Act 2013 w.e.f. 22 June 2016.The Company is engaged in the business of manufacturing and export of Active Pharma Ingredients(APIs) and their intermediates. The Company is having manufacturing facilities at Kazipally and Jeedimetla Hyderabad.The Demerger Scheme sanctioned by the National Company Law Tribunal (NCLT) vide its order dated 15-05- 2017 received by the Company on 17-05-2017 has been implemented with appointed date as 01st April 2016 as provided in the Scheme. Accordingly the Semi Regulated Facilities i.e. Unit I IV and V along with (i) premises situated at Industrial Estate Sanath Nagar Hyderabad; (ii) Industrial Development area Jeedimetla Hyderabad; (iii) Flat No. 417 Nilgiri Aditya Enclave Ameerpet Hyderabad and (iv) Vacant Land admeasuring Ac 19.00 situated at Pharma City Parawada Vishakapatnam. Along with these assets the company has conferred with the liabilities mentioned in the books of the demerged company as on the appointed date. The Company allotted 3023287 equity shares of Rs.10 each to the shareholders of SMS Pharmaceuticals Limited (transferor Company) on 27 June 2017 in pursuance of demerger scheme.Pursuant to the scheme of arrangement the equity shares of the Company were listed in the National Stock Exchange of India Limited (NSE) and BSE Limited (BSE) w.e.f 17 August 2017.During the FY2018the Board approved the acquisition of Mahi Drugs Private Limited (Mahi Drugs) a Bulk Drugs manufacturing Company located at Vishakhapatnam Andhra Pradesh as a wholly owned (100%) subsidiary of SMS Lifesciences India Limited by entering into a share purchase agreement.During the FY2019 the Company had achieved production of 2040 M.T of APIs and their Intermediaries in comparison with 1729 M.T for the FY 2017-18. During the year 2018-19 Mahi Drugs Private Limited became wholly owned subsidiary of the Company with effect from 17 September 2018.During the year 2019-20 producation has declined from 1364 M.T. of API's and their intermediates in comparison with 2040 M.T. for the previous year due to the new USFDA guidelines on Ranitidine HCLThe Company has received the prestigious India Pharma Bulk Drugs Company of the year award on 5 March 2020 at the 5th edition of India Pharma and Medical Device 2020 conference organized by FICCI in collaboration with Ministry of Chemical and fertilizers Govt. of India.