The South Indian Manufacturing Company a pharmaceutical manufacturing concern known in short as SIMCO was founded in the year 1937 by Mr. Subramanian along with his co-brother. The founders of the company who had the goal of achieving something big in life found their inspirations in the words of the Father of the Nation Mahatma Gandhi. Gandhiji’s concept of using Indian made products kindled an interest in the founders to start a manufacturing unit. Thus was born the Madurai based unit with a motto to provide highly effective medicinal products to the low income group people at an affordable price. The founders of the company who were then working in a pharmacy quit their jobs and established this company with the help of a chemist. The firm’s first product saibol was prepared using mortar and pestle. The founders themselves used to prepare the ointment and carry them on their heads to sell to the customers. The business was founded only using the money that the founders earned at the pharmacy they worked in. They neither had any ancestral property nor any joint family support to start the business. As the business started improving, the firm had imported a few machines for the manufacturing process. With the help of few distributors, the firm was able to expand its market further.
Although the firm was doing well, there was no proper system in place. Before the firm could realize this it was already under a lot of trouble. The firm was under heavy debts not being able to come out of it. In the year 1972, the founder Mr.Subramanian passed away. The debts prevented the firm’s progress and the business started seeing losses. After the demise of the founder Mr.Subramanian his son Mr.S.Sankaranarayanan who was then pursuing his education sold his personal properties and jewels to run the business and clear the debts as much as possible. He used to involve in the business after his school and college hours. In the early 1980’s Mr.Sankaranarayanan officially took over Mr.Subramanian’s position in the firm. Mr. Sankaranarayanan who completed his undergraduation in business administration and post-graduation in Charted Accounting (CA) started managing the business at a very early stage in his career. Under his management proper accounting system was introduced, the operations of the firm were streamlined and all the debts were cleared. The firm started realizing profits under his management. Later on due to internal conflicts Mr.S.Sankaranarayanan filed a suit in the madurai district court to dissolve the partnership. After 18 years, in March 2009 Mr.Sankarnarayanan took over the firm as the sole properietor through a court held private auction. On 26-06-2011, Mr.Sankaranarayanan passed away suddenly. He left behind a registered will through which he has passed on his business and other assets and liabilities equally to his two sons namely S.S.Subramanian and S.Balaji. As per his wish in the will, his two sons are now running the firm.
