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Dear sir/madam,
In 1945,
Mr. Govind Ramnath Kare, who was in business of
wholesale and retail trade
of pharmaceuticals, started a firm called
Indo Continental Trading
Company.
However in this early
period company suffered a severe
setback. During independence movement, the
border between India and
Goa was sealed and Mr. Kare was unable to travel to
Mumbai and
manage the company.
Soon after Goa's independence Mr. Suresh G Kare son of Mr.
G.R. Kare took
over as the managing director of the unit in 1963.
The business grew from
turnover of Rs. 0.25/=MN. to Rs.1776/=MN. and
the employee strength from 20
to 1750.
The company has 5
plants located in Goa, Andheri, Tarapur
and Waluj.
Strengths:
Manufacturing facility designed as per UK MHRA, USFDA and MCC.
Wide
spread geographical reach.
Full fledged R&D centerer.
Consistent
growth in last 57 years with CAGR of 8.56%.
Ranked 24th in prescription
audit.
Market leader in stomatological
segment.
Weakness:
Dependence on C&F agents to handle back office
work.
13.90% of domestic sales are under DPCO's price control
regime.
Competition from Indian companies in same segment and from other
countries with low cost manufacturing base.
IPO details:
Price
band: Rs. 220/= to Rs. 245/=
Min.
Lot: 25 equity
shares
Bid opens: 17th
Dec.2004.
Bid closes: 23rd Dec.
2004.
Lead Manager: Enam Financial
Consultant.
Recommendation:
Subscribe.
Expectation : Rs.
400/=
Yours sincerely,
Bhabani Shankar Parida
Note: Writer does
not bear any responsibility whatsoever by the
decision taken by individual
due to above written article and
recommendations. Above information is
supposed to be taken from
reliable source.
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