-Smruthi Organics a bulk drug manufacturing company has decided to
expand its product range by the introduction of Ciprofloxacin
(antibiotic) and Ranitidine HCl. To part finance this project the
company is entering the capital market on December 4th with a public
issue of 18 88 550 lakh equity shares of Rs. 10 each at a premium of
Rs. 5 per share.
- The Company's Block No C and D being dedicated for exports and
received 100% EOU status permission from the Development
Commissioner, Seepz, Mumbai and started the activities.
- The Company has created new facility i.e.; additional production
plant viz. 'E' Block' at the Company's Factory No. Unit II Plot No
A-27, MIDC, Chincholi, Solapur has commenced the commercial operation
as an Export Oriented Unit.
- The Board of Directors have recommended a dividend of 25% for the
- The Company has been accredited the Current Good Manufacturing
Practices - World Health Organization (cGMP - WHO) certificate from
German Health Authorities (Landesamt fur Gesundheist and Soziales
Berlin, Germany) for Active Pharmaceutical Ingredients (API) viz.
Norfloxacin, Carbidopa and Metformin Hydrochloride for the European
- Amlodipine Besilate (API) has been granted Certificate of
Suitability (COS) by European Directorate from the Quality of
Medicines and Healthcare (EDQM). This recognition shall immensely
help the Company to Enter EU Regulatory business in EU Countries.
- Smruthi Orga - Manufacturing site U-II received USFDA approvals.
- Recommendation of Dividend @ 25% on Equity Shares i.e. Rs. 2.50 per
- The Board of Directors has recommended a dividend of 30% on Equity
Shares of Rs. 10/- each for the year.