Wintac Limited was started in the year 1987 with the name of Recon Limited and as an offspring of Bangalore Pharmaceutical and Research Laboratories Pvt. Ltd which has been in existence since 1956. The company shot into prominence for launching quality products which were within the reach of common man. Over the years, Recon leveraged its expertise in launching products that encompassed a wide range of therapeutic specialties.
In 2001 – Recon was renamed as Wintac Limited, coined from We INtend TAking Care (WINTAC) its range of specialties includes Large and small volume injectable and Ophthalmic solutions.
They have a Manufacturing Plant at Nelamangala which was inspected by USFDA during September
2011. There were eight observations from the USFDA and consequently they had to suspend
the export supplies to US.
In 2013 company entered strategic alliance with Gavis Pharma LLC promoted by Dr.Veerappan
Subramanian and are now the current promoters of the company with ~55% stake.
In 2014 itself Gavis helped them to fill 20 ANDAs with USFDA . As of now 5 products are commercialized and is being sold in US market.
In April this year FDA inspected the plant with No 483 observations.
Company did sales of 32crs last year vs 18cr as exports to US started last year since oct.
Interesting thing is on sales of 32crs they recieved ~38crs as advances from customer. I believe they sell products to promoters other holding co Somerset Therapeutics, LLC which then markets it to USA.
This is the biggest risk as of now, as almost all of its revenues is dependent on its promoters.
But appointment of Dr. Mandar Shah as vice president of R&D by Somerset in April this year indicates they want to grow Wintac before exiting.
List of products approved
Disc: Holding @250.