Tyche Industries Limited, formerly Siris Soft Limited, established in 1998, is a major Indian manufacturer specializing in Glucosamine Hydrochloride and its salts, primarily exporting to the USA and Europe. The company's core operations focus on manufacturing bulk drug intermediates. Tyche has ventured into the e-commerce sector, with advanced development centers in New Jersey, USA, and Hyderabad, India, offering offshore, offsite, and onsite solutions. Strategic alliances have been formed with companies like Allegheny Digital Corp and Transaction Information System Inc.
The company is issuing 26 lakh equity shares at Rs. 10 each to fund infrastructure expansion and support new branches in America, aiming to enhance its ERP product marketability. Tyche reported significant financial growth, with sales rising from Rs. 46.62 lakh in 1999 to Rs. 301.20 lakh in 2000, and a net profit increase from Rs. 6.32 lakh to Rs. 59.81 lakh. Future projections indicate robust growth, with expected sales of Rs. 1549.32 lakh in 2001 and Rs. 1936.65 lakh in 2002, largely driven by export earnings.
