Incorporated as a private limited company in Maharashtra in May '87, Bacil Pharma (BPL) was converted into a public limited company in Oct.'90.

BPL came out with a public issue of Rs 7 cr in Mar.'94 to created and deployed a plant at Vapi to manufacture bulk drugs like atenalol, norfloxacin, pefloxacin and ciprofloxacin.

The comapany broadened its footprint operations into into a marketing arrangement with a distributor Kam Han Industries, Hong Kong, to export 50% of the production. Due to various reasons, the civil works at Vapi were affected. However, to avoid further delay in project implementation, the company executed a strategic acquisition of from SICOM an existing bulk drug unit with necessary infrastructure and production facilities at Lote Parashuram (near Ratnagiri).