Business Standard

The Pharma Giant in making announces IPO and expansion in MENA


In a cloud of an organised healthcare ecosystem, the demand for speciality chemicals and pharmaceutical products is unprecedented. The global pharma industry reached new heights in FY18, estimated to be over $1.11 trillion. By FY20, the figure is set to surge to over $1.44 trillion.
With new government policies in place to promote optimum development of the healthcare infrastructure, Sudarshan Pharma has announced an IPO (Initial Public Offering) in June to fuel growth prospects and deliver incremental returns to shareholders. Currently, Sudarshan Pharma works with one of the most reputed clientele - including names like Cipla, Sandoz, Sun Pharma, Jubilant Life Sciences, Lupin, Teva, etc.
At Sudarshan Pharma, the founders, i.e., Hemal V. Mehta & Sachin V. Mehta, have a combined experience of over 25 years in the special chemicals, bulk drug and pharmaceutical industry. Currently, the company has a contract manufacturing agreement with four pharmaceutical companies, wherein it has also joined hands with regular suppliers having FDA and WHO approved plant to deliver pharma formulation and more than 100 generic pharma products.
"Sudarshan Pharma Limited is proud of its robust manufacturing facilities well equipped with technology. It has grown leaps and bounds reflecting ultra-positive Revenue, EBITDA and PAT with a CAGR of about 54 per cent, 140 per cent and 194 per cent respectively over four years. Remarkable milestones prove that the company will continue to upgrade the highest quality of standards. Our step towards IPO is a testament to our bullish growth over the years and incremental return opportunities for equity holders in the years to come", said Hemal Mehta, Managing Director.
Sudarshan Pharma has entered into various agreements with storage houses/warehouses across the nation, especially in Maharashtra and Himachal Pradesh for stock management and storage. Currently, the company supplies Active Pharmaceutical Ingredients (APIs), Intermediates Finished Dosage Formulations (FDFs) and Specialty Chemicals (SCs) in the domestic markets. Sudarshan Pharma also exports to countries like Uzbekistan, Bangladesh, Taiwan, Sultanate of Oman (Muscat) Dubai (UAE) & UK.
Moreover, it has a product pipeline ready for exports in countries like South East Asia, Middle East & North Africa (MENA Region).
To expand its export business, Sudarshan Pharma is currently in the process of applying for 16 formulation registrations across multiple nations, enabling business growth across international markets. The company also plans to launch its state-of-the-art manufacturing facility in Maharashtra. The facility will reportedly comply with the FDA, WHO and international standards to manufacture the pharmaceutical formulation and F & D facility. It further plans to develop distributor network and logistics facility across leading metro cities to support e-commerce based sales of company's products.
The company was incorporated in the year 2008 by the name of Sudarshan Specialty Chemsolve Private Limited. Later in the year 2016, the name of the company was altered to Sudarshan Pharma Industries Private Limited.
SPIL is promoted and operated by technocrats Vasantrai R. Mehta and his sons Hemal V. Mehta & Sachin V. Mehta
Vasantrai R. Mehta began his trading business in Chemicals from 1984 & his sons joined him. Sudarshan Pharma is set to revolutionise the healthcare industry in India, enabling ease of access for APIs and speciality pharmaceutical products, while providing industry-leading solutions across the globe.
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First Published: May 31 2019 | 6:19 PM IST

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