The Company was incorporated as Public Limited Company on 16th November, 1992 and obtained Commencement of Business Certificate on 20th November, 1992 with the object, of manufacturing and trading in Organic & inorganic Chemicals, dyes and pigments. The Company was promoted by Messrs Sanjay J. Adani, Dinesh H. Desai, Mr. Dahyabhai Patel, Mr. Vikram R. Shah and Mr. Mitesh J. Adani and family members. Subsequently, during October 1994 Mr. Shashikant M. Gandhi joined as copromoter. In early 1993, it was decided by the, Board to set up the Project. In April 1993 land admeasuring 19095.36 square metres was acquired at GIDC Industrial Estate, Panoli, Ankleshwar, Bharuch District, Gujarat, for the Project. In July 1994, and in December 1994 the Company obtained acknowledgements of Memoranda for its products. The Company is presently implementing the Project. The Company is also carrying out a small amount of trading in chemicals. 2011 -Registered Office of the Company has been shifted To 23, Sarvopari Mall, Opp. Utsav Party Plot, Sola Road, Ahmedabad - 380063. 2014 -Company have shifted its registered office from:23, Sarvopari Mall, Opp. Utsav Party Plot, Sola Road, Ahmedabad - 380063 To GF-64, Block I, Titanium City Center (Mall), Nr. Sachin Tower, 100 Ft Road, Satellite, Ahmedabad - 380015. 2019 -The Company has splits its face value from Rs. 10/- to Rs. 1/-. -Company name has changed to Generic Pharmasec Ltd. from Adi Rasayan Ltd..  2023 -Company name has changed to Genpharmasec Ltd. from Generic Pharmasec Ltd.. -The Company had disclosed about Share Purchase Agreement and Share Subscription cum Shareholders' Agreement in relation to acquire 70% stake in Derren Healthcare Pvt. Ltd. 2024 -The company issued rights shares of Rs. 1 in the ratio of 1:1 at a premium of Rs. 0.75 per share.2025-Company updated on acquisition of 70%  stake in Derren Healthcare Private Limited.