2009

Outcome of Board Meeting on buyback of shares subject to approval of shareholders, through postal ballot route

We are pleased to inform that the board of directors at its meeting held on October 29,2009, inter-alia discussed on the buyback of equity shares which was approved by the board, at its meeting held on September 09, 2009. the board has now taken the following decision, which sahll be subject to the approval of the shareholders through the postal ballot route:

The maximum offer price is increased from Rs. 60 per equity share to Rs. 65 per equity share.
The maximum offer price is increased from Rs. 3900 laks to Rs. 5600 lakhs, which is more than 10% but less that 25% of the paid up capital as on date and free reserves as on March 31, 2009.
The above said buyback will be subject to all such appropriate approvals, if any.

FDC features in Forbes' Asia List of 20 Indian firms

The rankings are of companies with sales of less than $1 billion in Asia-Pacific.

Twenty Indian companies have made the cut to enter the list of 200 best companies having sales less than $1 billion in the Asia-Pacific region, compiled by business magazine Forbes.

 

 

IN GOOD COMPANY


Forbes

Some of the companies
which made it to the list:

   

Biocon

Geodesic

AIA Engineering

ICSA

Allied Digital Services

GSS America and Micro

AurinoPro Solutions

Technologies

Birla

IVRCL Infrastructure

Deepak Fertilisers

Opto Circuits

Divi's Laboratories

Parekh Aluminex

Everest Kanto

Raj Television

FDC

Selan Exploration

 

Technology

 

 

Biotech major Biocon, industrial equipment firm AIA Engineering, IT outsourcing firm Allied Digital Services, software entity AurinoPro Solutions and construction materials company Birla feature in the league of 200 companies.

“All have either increased sales and profits over the past 12 months or are forecast to do so in coming quarters. Apparel, media, technology and health care led the way. Nearly 40 per cent of the companies are from greater China,” Forbes said.

Deepak Fertilisers, drug ingredients provider Divi’s Laboratories, gas storage products entity Everest Kanto, pharma firm FDC, publishing entity Geodesic and IT consultancy ICSA have also made it to the list.

Others in the 200 league are IT firms GSS America and Micro Technologies, infrastructure firm IVRCL Infrastructure, security systems entity Nitin Fire Protection, medical devices company Opto Circuits, aluminium foil maker Parekh Aluminex, television broadcaster Raj Television and oil exploration firm Selan Exploration Technology.

The top 200 companies were picked from over 12,000 publicly-listed firms with sales of less than $1 billion in the Asia-Pacific region.

“They were vetted for consistent growth of both sales and profits over three years, modest indebtedness and future prospects,” the magazine said.

This year’s Forbes Asia “Best under a Billion” list was mainly dominated by as many as 78 small and mid-sized firms from China and Hong Kong thanks to the relative economic strengths of these regions. Japan was the second most represented country in the coveted list with 24 companies, while its neighbour South Korea had 23 firms.

India was ranked at the fourth place with 20 entries, followed by Australia with 18. “Consumerism is once again a key driving force behind most of the companies in the list. One hundred and two firms on the list are consumer related, up from 78 in 2008 and 67 in the inaugural edition in 2005,” Forbes said.

The business magazine further said “this year’s list of the best small and mid-sized companies throughout the Asia Pacific region is chock-full of survival stories and lessons for entrepreneurs”.

As many as 64 of the entries on this year’s list are returnees — “a testament to fearless management” Forbes said, while 136 are new entries —who have “seized opportunities arising from economic uncertainty”.

Outcome of Board Meeting on Buyback

We are pleased to inform that the Board of Directors of the Company at its meeting held on September 09, 2009, inter alia has approved a proposal for buyback of equity shares of the Company under proviso (B) to section 77A (2) of the Companies Act, 1956, subject to appropriate approvals, if any. The brief particulars of the buy back are as under:- 

  1. The Buyback of its fully paid equity shares, will be from the open market, through the stock exchanges, at a price not exceeding Rs.60/- per share, upto a maximum limit of Rs.3900 lakhs being less than 10% of the total paid up capital as on date and free reserves as per audited balance sheet for the year ended March 31, 2009.
  2. The maximum number of shares for buy back will be upto 86,50,000 equity shares. The minimum number of shares for buy back will be 13,00,000 equity shares.
  3. The Board has appointed SPA Merchant Bankers Limited as the Manager to the buyback.
FDC's Ofloxacin Ophthalmic Solution 0.3% W/V receives a nod from U. S. FDA

The rankings are of companies with sales of less than $1 billion in Asia-Pacific.

FDC Limited, already a leader in the field of ophthalmology, in the country, establishes itself in the highly regulated US market with approval of yet another product, Ofloxacin Ophthalmic solution.

FDC Limited has now received an approval from the U. S. FDA for its Abbreviated New Drug Application (ANDA), Ofloxacin Ophthalmic Solution. Ofloxacin Ophthalmic Solution is a broad spectrum fluoroquinolone antibacterial Ofloxacin for occular surface infections.

The Company had earlier received approvals for Timolol Maleate Ophthalmic Solution and Ciprofloxacin Ophthalmic Solution.