An improved process for industrial preparation of pharmaceutically acceptable decolorized and purified extract of calcinogenic plants is disclosed. The improvement makes the proccess useful for wider variety of calcinogenic plants utilizing other plants parts as well in addition to leaves. The invention also provides an improved range of solvents and decolorization/purification methods which can be suitably used in the process. The invention also provides improved therapeutic application of the extract in additional therapeutic indications. The decolorized and purified extract of calcinogenic plants are used for preparation of topical and oral pharmaceutical compositions for the treatment of psoriasis seborrheic dermatitis dandruff sun damaged skin chapped skin of hands and feet due to sun cold and drying rickets osteoporosis and renal osteodystrophy.