We were originally incorporated on June 29, 1983 as Dishman
 Pharmaceuticals and Chemicals Private Limited, under the Companies
 Act. Our Company became a deemed public company w.e.f. April 1, 1996
 and the word Private was deleted on February 17, 1997. Subsequently,
 on January 1, 1999, we renamed ourselves as Dishman Pharmaceuticals
 and Chemicals Limited and a fresh certificate of incorporation with
 the aforesaid name was issued on October 12, 1999. Our registered
 office is located at Bhadra Raj Chambers, Swastik Cross Road,
 Navrangpura, Ahmedabad - 380 009. The Company was initially
 incorporated as a private limited company with Mr. Dilip Patel and
 Mr. J. R. Vyas as the shareholders and with Mr. J. R. Vyas, Mr. R. T.
 Vyas, Mr. Dilip Patel and Mr. Mahendra K. Patel as directors. This
 Company was dormant till 1989. Thereafter, J. R. Vyas, activated this
 Company and was appointed as the Managing Director of the Company. 
 
 A. BACKGROUND 
 
 Dishman Pharmaceuticals and Chemical Limited (Dishman) was
 incorporated as a Pvt. Ltd. Co. in 1983. It became a deemed Public
 Limited Company with effect form 1st April 1996. After obtaining
 necessary approval the status was converted into a Public limited
 company with effect form 1st January 1999. 
 
 Dishman is engaged in manufacturing and marketing of chemicals such
 as Quaternary Compounds (Quats) including Phase Transfer Catalyst
 (PTC), Bulk Drug & intermediates and Fine & Specialty Chemicals. The
 Company is recongnised Export house and holding ISO 9002 certificate
 issued by BVQI, Switzerland. 
 
 Dishman has established two wholly owned subsidiaries namely Dishman
 Europe Ltd. and Dishman Cyprus Ltd. Dishman USA Inc. is Subsidiary of
 Dishman Cyprus Limited. Dishman Africa (Proprietary) Limited and
 Pharma Syn BV are subsidiaries of Dishman Europe Limited. Dishman
 Holland BV is a step down subsidiary of Pharma Syn BV 
 
 The Company has also under its fold a Business Center and a Travel
 Agency operating since the year 1998-99 and the accounts of both are
 grouped and consolidated in the Profit & Loss account and Balance
 Sheet of Dishman Pharmaceuticals and Chemicals Limited. 
 
 100% EOU STATUS 
 
 Substantial portion of the profits of the Company are exempted from
 income tax, being profits form undertaking situated at Bavla Unit
 which is 100% Export Oriented Unit (EOU) approved by Kandla Free
 Trade Zone. Under the tax holiday the Company can utilize exemption
 of profits form income taxes for a period of ten consecutive years.
 The tax benefits are available to the Company for its undertaking
 situated in Bavla till the year 31/03/2010. 
 
 2004
 
 -Securities and Exchange Board of India approves for initial public
 offering (IPO) for 3,433,400 equity shares of Rs 10 each. the company
 fixes price at Rs 155-175 per share
 
 -Dishman Pharmaceuticals & Chemicals Ltd has informed that the UK
 based Wholly Owned Subsidiary of the Company namely Dishman Europe
 Ltd has been awarded the prestigious Queen's Award for Enterprise for
 five-fold increase in export earnings for the past three years.
 
 -Dishman Pharma has inked deals with a Japanese and East European
 company for the supply of intermediaries
 
 -Dishman Pharma inks securitisation deal with European co
 
 2005
 
 - Dishman Pharmaceuticals & Chemicals Ltd acquires a Manchester UK
 based Contract Research Company, M/s Synprotec Ltd, through its 100%
 wholly owned UK based subsidiary company M/s Dishman Europe Ltd.
 
 -Dishman Pharmaceuticals enters into an agreement with NU SCAAN, UK
 
 2006
 
 -Dishman Pharmaceuticals successfully completes US FDA inspection for
 API Eprosartan Mesylate
 
 2007
 
 -Dishman Pharmaceuticals & Chemicals Ltd has informed that Mr.
 Divyabhash C Anjaria ceased to be a Director of the Company, upon
 resignation with effect from February 09, 2007 and his resignation
 has been accepted by the Board of the Company. Consequent to this,
 Mr. Divyabhash C Anjaria also ceased to be a member of Audit
 Committee and Remuneration committee of the Company.