SMS Pharmaceuticals Ltd

SMS Pharmaceuticals Ltd

SMS Pharmaceuticals Limited is a Public company incorporated in December 14 1987. The company is engaged in the business of manufacturing of Active Pharma Ingredients and their intermediates. Apart from R &D Center at Gagillapur Hyderabad the company is having manufacturing facilities at Bachupally Hyderabad and also at Kandivalasa in Vijayanagaram Dist. Its business activity is a single primary business segment of 'Bulk Drugs'. During the year 2015 the company has re-enforced its fundamental strength of FDA compliant facilities by successfully completing the US FDA audits at Kandivalasa and Bachupally facilities.During the year 2015 the company filed 9 Drug Master Files and total DMFs filed up to 31 March 2015 are 24.During the year 2014-15 the Company acquired 1225900 equity shares of Rs. 10/- each in M/s. VKT Pharma Private Limited. With this the said company has become an associate company. The project of the said associate company is in final stage and at the verge of completion and operations are yet to be commenced. The Company has not having any subsidiaries.During the year 2015-16 the Company had sub divided the face value of share of Rs 10/- each into face value of Rs 1/- of each with record date of 18th December 2015.During FY 2015-16 the Board has approved the 'Draft Scheme of Arrangement for Demerger of Semi Regulated Units (Unit - I IV & V) along with other Assets to transfer the same to SMS Lifesciences India Limited (Resulting Company) with an object to reduce the impact of Semi Regulated Units on Regulated Units achieving operational efficiencies site synergies and streamlining its current structure. The Draft Scheme of Arrangement is subject to the Approvals of Stock Exchanges Securities Board of India Limited Reserve Bank of India and other regulatory authorities and also Hon'ble High Court of Judicature at Hyderabad for the State of Telangana and Andhra Pradesh.During FY 2016-17 the Company had made investment in it's associate Company viz. M/s. VKT Pharma Private Limited for its business purpose. During the year under review 2016-17 the Company had acquired 511400 equity shares of face value of Rs 10/- each in the said associate at an average price of Rs 157.21. Further the Company had also made an investment in 1000 equity shares of Sireen Drugs Private Limited of Rs 10/- each.SMS Lifesciences India Limited is the wholly owned subsidiary of the Company during the Financial Year 2016-17.In FY 2017-18 the Scheme of arrangement between SMS Pharmaceuticals Limited (Demerged Company) with SMS Lifesciences India Limited (Resulting Company) and their respective Shareholders and Creditors provides for the demerger of the Semi Regulated Units No. I IV and V along with premises situated at Industrial Estate Santhnagar Hyderabad; Industrial Development Area Jeedimetla Hyderabad ; Premises bearing Flat No.417 Nilgiri Aditya Enclave Ameerpet Hyderabad; vacant land admeasuring Ac 19 cents situated at Pharma City Parawada Visakhapatnam and Investments relating to Semi Regulated Units (Demerged Undertaking) of SMS Pharmaceuticals Limited the 'Demerged Company' into SMS Lifesciences India Limited the 'Resulting Company as specified in the scheme. The scheme was approved by the Hon'ble National Company Law Tribunal Hyderabad Bench vide its Order No. C.P (CAA) No.7/230/232/HDB/2017 dated 15th May 2017. The effective date of the Scheme is 17th May 2017. SMS Lifesciences India Limited (Resulting Company) in accordance with the approved Scheme of Arrangement has allotted 3023287 equity shares of Rs.10/- each to the shareholders of the company by fixing Record Date as on 23rd June 2017. Pursuant to approved Scheme the Resulting Company shares will be listed on Stock Exchanges viz. BSE & NSE where the equity shares of SMS Pharmaceuticals Limited are listed.The Company had made investment in its associate company viz. M/s. VKT Pharma Private Limited for its business purpose. During the year under review 2017-18 the Company had acquired 784100 equity shares of face value of Rs.10/- each in the said associate at an average price of Rs.200.81.During FY 2018-19 the Company had made investment in it's associate Company viz. M/s. VKT Pharma Private Limited for its business purpose. The Company held 3850165 equity shares of Rs 10/- each in VKT Pharma Private Limited as on 31st March 2019 as investments.