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Vitara Chemicals Ltd.

BSE: 524646 Sector: Health care
BSE 05:30 | 01 Jan Vitara Chemicals Ltd
NSE 05:30 | 01 Jan Vitara Chemicals Ltd

Vitara Chemicals Ltd. (VITARACHEM) - Company History

Vitara Chemicals Ltd., is the flagship company of Vitara Group which has it's core interest in pharmaceuticals. Originally the company was incorporated as a private limited company in the name of Vitara Chemicals Pvt Ltd in Oct.'86 and subsequently it was converted into a public limited company under the present name in Dec.'92. The other companies in this group include Vitara Fiannce, Vitara Laboratories, etc. The company commenced its manufacturing of Ampicillin Trihydrate and Amoxycillin Trihydrate in Nov 1993 at it's plant at Baroda. Prior to its manufacturing operation thd company was mainly engaged in trading in bulk drugs and pharmaceutical & allied products. And now now the company manufactures and sells bulk drugs like ampicillin and amoxycilln and markets a wide range of pharmaceutical and allied chemical products. The company exports to Hongkong, Thailand, Singapore, U.A.E, Netherlands, Germany, Kenya, Vietnam, France, and Brazil. The company is listed in Bombay, Ahmedabad, Delhi and Mangalore stock exchanges in Oct 1994, subsequent to the offer for sale to public of Equity shares made by some Shareholder in July 1994. The company came out with a Right issue at a premium of Rs 10 and a public issue at a premium of Rs 28 in Feb 1996, to part-finance its expansion project for manufacturing Bacapicillin HCI (14.4 TPA), Sulbactam Sodium (14.4 TPA), Famotidine (12 TPA) and Fluconazole (7.2 TPA) and meet long-term working capital requirements totalling Rs 12.9 cr. VCL obtained ISO 9002 accredition from BVQI in 1997. The company during the end of the year 1997-98 successfully implemented a project for manufacuring Cephalosporin group of products with an installed capacity of 120 TPA. The company also alloted bonus shares in ratio of 1:1 on August, 1998. Total operation of the company are being reorganised concentrating mainly on the core activities, & giving more stress on better utilisation off all the available resources and cutting down overheads by bringing cost effectiveness in all fields. Zero countervailling duty on the company's export to the European Union will boost company's effort for export of Company product in European market.