Sterling Biotech

Sterling Biotech

Sterling Biotech Limited (SBL) was incorporated in 23rd March of the year 1985 in Mumbai as Pluto Exports & Consultants Limited and obtained its Certificate of Commencement of Business in 19th April of the same year 1985. SBL is engaged in producing pharmaceutical and nutraceutical gelatin in India and Asia. Additionally Sterling sells dicalcium phosphate (DCP) a by-product of the gelatin manufacturing process to poultry-feed and fertilizer industry in India.Sterling began its operations as a trading company changed its focus to the manufacture of tea in the year 1991 and further changed its name to Sterling Tea and Industries Limited in 24th June of the year 1991. Its name was subsequently changed to Sterling Biotech Limited with effect from 29th March. In the year 1995 as part of an overall growth strategy Sterling's management identified gelatine as a high niche and a high growth area and the company also made a technical collaboration with Croda Colloids Limited of the United Kingdom in the same year 1995. In 1997 SDL had diversified into the production of pharmaceutical grade gelatine. SDL had successfully commissioned its first gelatine production facility in the same year with an installed capacity of 2200 MT at Karakhadi Dist Vadadora. Capacity of the gelatine production facility was increased to 2600 MT pa in the July of the year 1999 and further augmented to 4000 MT pa by July of the year 2000. The Company decided to exit the tea business entirely due to extreme competition and slow growth and this was sold off in the year 2000. During the year 2002 SDL had commissioned expansion project for manufacture of Gelatin and also bagged an export order for supply of Gelatin. The Company obtained Rs.5.5cr order for supply of gelatin to Cardiac Health Inc in the year 2003 and also in the same year SDL had changed its Biotech symbol from 'STERLINTEA' to 'STERLINBIO'. In 2004 the company had acquired gelatine business of Rallis for the consideration of Rs 47 crores. As at March 2007 Sterling Biotech had successfully commissioned its plant for the manufacture of Co Enzyme Q1O (Co Q10) at its Masar plant in Vadodara. The facility is a 100% Export Oriented Unit. Titanic Investment and Consultants holds 1276000 equity shares (representing 0.56% equity capital of the Company) and is now part of the promoters group of the company with effect from March 30th 2007. The Company had resolved its American Depositary Receipts Global Depositary Receipts and Foreign Currency Convertible Bonds issue in March of the year 2008.