Milestones:

1963-70

• The beginning of the group activity.This decade saw the establishment of the company's first formulation plant, manufacturing tablets, Capsules and Liquid Orals, at Indore, Madhya Pradesh, India.

1971-80

• Up-gradation and expansion of Manufacturing Facilities. Establishment of a nation wide marketing and distribution network. Introduction of branded formulations in various categories.

1981-90

• An ultra modern formulation plant was established at Manglia, near Indore, to manufacture a wide range of allopathic formulations. Innovative branded formulations were introduced and established in Anti-malarials, Anti-tubercular, Cardiovascular & Cough & Cold segments. The company pioneered the launch of Doxycycline and Cotrimoxazole in the Indian market.

1991-2000

• Diversification into Herbal & Natural formulations with scientific and modern manufacturing plant for Herbals set up at Indore.

• Introduction of novel herbal products for Hepatocare, Diabetes and Syndrome X developed with in-house research and clinical evidence.

• Major thrust into International Marketing. Travisil, an indigenously developed herbal Cough & Cold product became a star performer in the entire CIS market.

2000-2005

• Commissioning of the state of the art formulation manufacturing plant at Kalaria, Indore, as per the requirements of WHO GMP, UK MHRA and US FDA.

• Plethico brand topped the Anti-Malarial segment of quinines. (A C Neilson 2002).

• Plethico, ranked amongst the TOP 5 Anti-TB companies in India, with its revolutionary 3/4 drug fixed dose Anti-TB combinations.

• The company re-oriented its business strategy and launched its Consumer Healthcare Division in India.

• Ultra modern fully integrated plants set up for manufacture of PET bottle (AOKI, Japan) and hard boiled candies (Klockner Hansel GmBH, Germany).

• The company acquired a marketing and distribution chain in the CIS, with subsidiaries in Russia, Ukraine, Kazakhstan, Moldova, Azerbaijan and Kyrgyzstan. Marketing and Distribution Joint Ventures formed in South East Asia, Africa and Latin-America.

• Establishment of Plethico Africa Limited (Kenya), a manufacturing Joint Venture to cater to the East African market.

2006 - 2008

• Plethico raises Rs 110 crore from IPO to part finance:

  • The up-gradation of its Kalaria plant to make it UK MHRA compliant.
  • Setting up a WHO GMP (World Health Organisation Good Manufacturing Practices) compliant plant in Jammu & Kashmir and land to be used for organic farming of important herbs.
  • Setting up a R&D and formulation and development centre.
  • Acquiring stake in domestic herbal/OTC/nutraceutical company or a brand.
  • Setting up its corporate office in Mumbai.
  • The working capital needs.
  
  

• Activating brokers for International Acquisition: The process was started in November, 2006. The objective was to acquire a synergistic business in the US. Company evaluated proposals ranging from $ 15 Milllion to $ 60 Million. This search helped Plethico to get a first hand feel on what is available in the US markets in this range. A senior management team was deployed in April 07 to start meetings with prospective sellers and to undertake a detailed evaluation process before taking a decision to invest.

• Acquisition sighted: Company quickly locked in on a probable list of target Companies it had identified after visit during the April visit.

• Funding by Foreign Currency Convertible Bonds (FCCB): Company successfully raised $ 75 Million for financing the prospective deal in hand. Company identified Natrol Inc (NTOL) a Nasdaq listed entity manufacturing and marketing Herbal and nutraceutical formulations in the US. It had a retail reach of more than 55000 outlets. The target was to be acquired through a friendly merger deal which was announced on 18th November, 2007 for cash at $ 80.8 Million. The Company's annual revenues were approximately $100 Million with a projected EBlTDA of 10%.

• Sale of stake in Rezlov: Company in 2003 had started acquiring strategic stake in Rezlov Group of Companies in CIS starting all across at 51 % stake. In the meantime, Company had increased stake to 75% in 3 Companies. Plethico sold stake in 2007 in all the Companies to accommodate a new strategic partner from Switzerland who took stake in all the six entities. The objective of disinvestment was not to earn INR 16.46 Crores of profit for diluting stake or to make the holding uniform in all entities at 45%. The objective was to bring in a strategic partner who would help our cause of deepening our reach in European markets starting from East European markets.