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History of Auro Laboratories Ltd.

Auro Laboratories Limited was incorporated as a Private Limited Comp. on 26th May 1989 with the Registrar of Companies, Maharashtra at Bombay. Later on the Comp. has been converted into a Limited Comp. on 13th January 1994 vide resolution dated 21st September, 1993. The Comp. is promoted by Shri Sharat Deorah & Shri Satish Deorah.

After incorporation the Comp. took all effective steps to set up the manufacturing facilities at Tarapur, Maharashtra by acquiring on lease a suitable plot of land at MIDC Industrial Area & with the aid of State Industrial and Investment Corporation of Maharashtra [SICOMs] and Maharashtra State Finance Corporation [MSFCs]. The Comp. was successful in implementing the project & started its commercial production on 14th July, 1992. The Comp. is engaged in the manufacturing & trading of TRIMETHOPRIM [lP/BP/USPs], a bulk drug. TMP is an antibacterial drug and is used in combination with SULPHAMETHOXAZOLE [SMXs]. The plant of Comp. is located at K-56, MIDC Industrial Area, Tarapur, Boisar, Dist. Thane, Maharashtra with production capacity of 60 TPA of TMP. The Comp. is managed by Board of Directors which includes well experienced businessmen & professionals, Shri Sharat Deorah, the Promoter-Director of Comp. is the Managing Director. He possesses experience of various business activities for more than 2 decades. This includes road transport, tea warehousing & manufacturing and exports of bulk drugs. Shri Satish Deorah is the younger brother of Shri Sharat Deorah. He too holds experience spanning over more than 17 years in the business activities of transport, tea warehousing & manufacturing & exports of bulk drugs. Shri Sharat Deorah is stationed at Bombay whereas Shri Satish Deorah at Calcutta.

The Comp. is now planning to undertake the project for expansion of production capacity of TMP from the existing 60 TPA to 200 TPA. Besides, the Comp. is also planning for backward integration by commencing the production of 3-4-5 TRIMETHOXYBENZALDEHYDE [TMBAs], which is the basic raw material for production of TMP. The Comp. has already received the Letter of Intent for production of 3-4-5 TMBA vide the Letter of Secretariat for Industrial Approvals, Dept. of Industrial Development, Ministry of Industry, Govt. of India bearing No. LI:34 [1994s] dated 11th January 1994. The Comp. has further made an application to the Central Government for amendment of licence with respect to increase in the production capacity of 3-4-5 TMBA. The plant will have a capcity of 175 TPA of production of 3-4-5 TMBA from 275 TPA of Gallic Acid, which will be consumed entirely by the Company. Out of total production, 50% of TMP would be exported During the year 1993-94, the Comp. made export worth Rs. 45 lacs & is planning to achieve an export target of Rs. 1.50 crores during the current year.

So far, the Comp. has been involved in the manufacturing & trading of TMP, a bulk drug. One of group companies, Auro Impex Private Limited has a very successful track record in the exports of bulk drug items. With a view to reap benefits of backward integration, the Comp. is now planning to commence manufacturing of 3-4-5 TMBA.

MAIN OBJECTS The main objects of Comp. as set out in its Memorandum of Association are as follows :

1. To manufacture, process, derive, buy, sell, import, export, or otherwise deal in pharmaceutical, medicinal, diagnostic, antibiotic, antiseptic, disinfectants, optical, biological, immunological, therapeutic & healthcare products, preparations, compounds & intermediates.

2. To manufacture, process, derive, buy, sell, import, export or otherwise deal in cosmetics whether herbal or otherwise hair, skin, nail or other beauty preparations, perfumes, aromatic chemicals, toiletories, deodorants, hair dyes & hygienic house hold consumer products.