Sudarshan Pharma Industries Ltd. – Company Report
1. Company Overview
Sudarshan Pharma Industries Ltd. (SPIL), founded in 2008 and headquartered in Mumbai, Maharashtra, is a fully integrated chemical and pharmaceutical company engaged in manufacturing, sourcing, distribution, and export of specialty chemicals, APIs, intermediates, and finished pharmaceutical formulations.
Originally established as Sudarshan Specialty Chemsolve, SPIL operates through a hybrid model—with its own production, contract/toll manufacturing, and an expansive distribution network. Led by industry veterans Hemal V. Mehta and Sachin V. Mehta, the company serves clients across India, the Middle East, Southeast Asia, and Africa in sectors including pharma, agrochemicals, coatings, food, and adhesives.
- Incorporated: 2008
- Headquarters: Mumbai, Maharashtra, India
- Leadership: Hemal V. Mehta (Chairman & MD), Sachin V. Mehta (Director)
- Employees: 51–200
- Certifications: FDA, WHO, ISO 9001:2015-compliant partners
- Listed: BSE/NSE (Public Ltd. since 2016)
- Global Footprint: India, Middle East, Asia, Africa
2. Products and Services
Sudarshan Pharma Industries Ltd. provides a diverse portfolio of chemical and pharmaceutical products and services:
Specialty Chemicals Solvents, intermediates, and high-value specialty products for pharma, coatings, adhesives, paints, and food industries.
APIs and Intermediates Sourcing and supplying high-quality active pharmaceutical ingredients and intermediates to global pharma companies.
Contract Manufacturing & Exports End-to-end formulation manufacturing—tablets, capsules, syrups, injections—for hospitals, NGOs, and governments in global markets.
Branded Formulations Ethical pharma products marketed under proprietary brands: Jivan Kit, Pulmo Relief, Setdown, Fix Pollen, Flupimac, and more.
Custom Synthesis & Product Development Tailored molecule development for customer-specific needs with full regulatory and QC support.
Distribution Services Supply chain operations for bulk chemicals across pharma, agro, coatings, adhesives, and industrial sectors.
Industries Served Pharmaceuticals, agrochemicals, food & beverages, adhesives, coatings, institutional and government healthcare.
3. Recent News and Developments
- Acquisition of 100% Stake in Company (August 2023): Sudarshan Pharma Industries Ltd. is set to acquire a 100 per cent stake in Ratna Lifesciences Pvt. Ltd. through an all-cash deal worth ₹5.5 crore. The acquisition, expected to be finalised by August 30, 2023, positions Ratna Lifesciences as a wholly owned subsidiary of Sudarshan Pharma.
- Acquisition of Stake in Healthcare Company (October 2024): Sudarshan Pharma Industries Ltd board has approved the acquisition of Ishwari Healthcare Private Limited, engaged in the business of medical and surgical instruments. The company said that the board has approved the acquisition of 2,09,200 equity shares of ₹10 each.
- Acquires Shares of Subsidiary (February 2025): Its board had approved the purchase of 10,000 ordinary shares of Sudarshan Pharma Industries Pvt Ltd, Singapore, making it a wholly-owned subsidiary.
- Establishing Subsidiary (February 2025): Its board issued a resolution to establish a wholly owned subsidiary LLC in Poland. As per the statement, the company plans to subscribe for 100 shares at the issue price of PLN 50 each which is roughly ₹1.5 lakh. This will serve as 100 percent of the capital needed for the new business unit.
- Expands International Footprint With Dubai Acquisition (June 2025): SPIL is buying Dubai-based Cibachem General Trading L.L.C. for ₹55 lakh, or 300 shares. Approval from the Reserve Bank of India is still pending, though completion is expected by September 30, 2025. The acquisition aims to broaden SPIL's Middle East customer base, boost export receipts, and leverage Cibachem's country-wide trading web.
- Fundraising Initiative and Establishing Subsidiary (August 2025): Board approved raising ₹1,500 crore via equity issuance through QIP, public or private placement (Face Value ₹1). Sudarshan Pharma Industries has also announced the establishment of a wholly owned subsidiary in the United States of America under the proposed name "Sudarshan Industries LLC" or any other name that may be authorized by US authorities.
- Boosts Manufacturing Capacity (September 2025): It has received approval to relocate its Vitamin B6 and B1 projects from Maharashtra to Gujarat, with an extended production timeline to December 31, 2027. Additionally, SPIL has invested ₹25.50 crore in acquiring a fully operational API manufacturing facility in Telangana from Srigen Lifesciences Private Limited.
- 'One Star Export House' Status: Granted by Ministry of Commerce & Industry, underscoring SPIL's export excellence.
- PLI Scheme Approved: Government approval under Production Linked Incentive (PLI) Scheme enhances manufacturing competitiveness.
- Vitamin B6 API Milestone: Successfully completed pilot-scale Vitamin B6 API batch, expanding the company's portfolio.
4. Financial Performance (FY2025)
| Metric | FY2025 Value |
|---|---|
| Revenue from Operations | ₹505 crore |
| Net Profit (PAT) | ₹16 crore |
| Operating Profit Margin | 8% |
| Net Profit Margin | 3.2% |
| Earnings Per Share (EPS) | ₹0.66 |
| Return on Equity (ROE) | 15% |
| Dividend | Nil |