**Novelix Pharmaceuticals Limited** (formerly **Trimurthi Limited**) is an emerging biopharmaceutical company headquartered in **Hyderabad, Telangana**. Following a transformative change in management and control in **2024**, the company has pivoted from a legacy trading and investment entity into a specialized player focused on **Research & Development (R&D)**, **Advanced Biologics**, and **GMP-compliant manufacturing**. --- ### Strategic Pivot: From Legacy Trading to High-Science Pharma Historically, the company operated as a diversified entity with interests in food supplements, finance, and securities trading. Between **2022 and 2026**, the company executed a comprehensive structural overhaul to exit non-core sectors and consolidate into a pure-play pharmaceutical and healthcare technology firm. **Key Milestones in Corporate Evolution:** * **March 2022:** Divestment of **Trimurthi Foods Limited**, marking the exit from the food business. * **October 2022:** Disposal of **Trimurthi Pharmaceuticals (India) Pvt Ltd**, a former wholly-owned subsidiary. * **May 2024:** Rebranding to **Novelix Pharmaceuticals Limited** to reflect the new innovation-driven mandate. * **2024 Acquisition:** Change in management following acquisition by **Srinidhi Fine-Chemicals LLP** and **Mr. Vupparapalli Chandrashekhar Reddy**. * **October 2025:** Strategic technology transfer agreement with **GMBU e.V., Germany** for the production and scale-up of **Astaxanthin** (a high-value antioxidant). --- ### Core Business Verticals & Operational Mandate As of **February 2026**, Novelix has streamlined its operations into three high-growth pharmaceutical pillars: 1. **Pharmaceutical Research & Analysis:** Focused on novel therapeutics, advanced biologics, and nutraceutical research. 2. **Manufacturing & Trading:** Production and distribution of **Active Pharmaceutical Ingredients (APIs)**, **Bulk Drugs**, **Key Starting Materials (KSMs)**, and **Intermediates**. 3. **Healthcare Technology:** Provision of healthcare research, analytics, and technology-driven solutions. The company is also authorized to expand into **Alternative Medicine** (Ayurvedic, Homeopathic, and Herbal products) and **Biotechnology** (Genetic Materials, Tissue Culture, and Vaccines). --- ### Infrastructure & The "Hyderabad Advantage" Novelix leverages its strategic location in **Hyderabad**, the "**Bulk Drug Capital of India**," which produces **~40%** of the nation's bulk drugs and **~50%** of its exports. * **Genome Valley Presence:** The company has secured a **5-year lease** (effective **January 1, 2026**) for laboratory space at **Neovantage Innovation Park**, located within the **2,000-acre Genome Valley** biotech cluster. * **Manufacturing Expansion:** Plans are underway to establish a **GMP-certified** production facility at its Techno Park site in Hyderabad, targeting regulated markets in **Europe, North America, and India**. * **Strategic Proximity:** The company is positioned to benefit from the upcoming **19,000-acre Hyderabad Pharma City**, enhancing its access to talent and supply chain ecosystems. --- ### Capital Structure & Fundraising Activity To fund its transition into biotechnology and manufacturing, Novelix has aggressively raised capital and increased its **Authorized Share Capital** to **Rs. 30 Crore**. **Recent Capital Infusions:** | Date | Instrument | Quantity | Issue Price | Purpose | | :--- | :--- | :--- | :--- | :--- | | **Jan 2025** | Convertible Warrants | **1,50,00,000** | **Rs. 20** | Working capital & growth | | **Feb 2026** | Equity Shares | **23,20,000** | **Rs. 60** | Lab setup & tech transfer | | **Mar 2026** | Warrant Conversion | **11,50,000** | **Rs. 20** | Promoter capital infusion | **Planned Capital Utilization (Estimated by June 2026):** * **Neo Vantage Lab Interior Setup:** **Rs. 275 Lakhs** * **Lab Scale Tech Transfer Expenses:** **Rs. 30 Lakhs** * **General Corporate Purposes:** Procurement of bio-reactors, laboratory equipment, and consumables. --- ### Financial Performance & Segment Revenue While the company is in a gestation phase for its new pharma units, legacy revenue streams from share trading have historically supported the balance sheet. **Historical Revenue Breakdown (₹ in '000s):** | Segment | FY 2023-24 | FY 2022-23 | FY 2021-22 | | :--- | :--- | :--- | :--- | | **Trading in Shares** | **41,152** | **11,914** | **10,062** | | **Financial Activity** | **2,044** | **2,727** | **2,978** | | **Pharma Business** | **1,451** | **2,132** | **870** | | **Total Revenue** | **45,312** | **19,203** | **13,949** | **Key Financial Ratios (FY 2023):** * **Operating Profit Margin:** **39%** * **Net Profit Margin:** **97.83%** * **Current Ratio:** **87.88%** --- ### Growth Strategy & Market Outlook Novelix is aligning its growth with the **Production Linked Incentive (PLI)** scheme to support India’s goal of reducing its **~70%** dependence on imported APIs. * **Value Migration:** Shifting from high-volume generics to high-science APIs and biologics. * **Acquisition Strategy:** The Board is authorized to invest up to **Rs. 500 Crore** and is actively identifying existing **chemical formulation units** (land, building, and machinery) for potential acquisition. * **Revenue Outlook:** Management anticipates that current upfront investments in R&D and infrastructure will yield significant revenue streams within the next **2 to 3 years**. --- ### Risk Profile & Mitigation Framework The company operates in a high-stakes regulatory environment and is currently navigating specific financial and operational challenges. **1. Financial & Liquidity Risks:** * **NPA Classification:** As of **June 18, 2024**, the company’s debt was classified as a **Non-Performing Asset (NPA)** due to irregular repayments. * **SARFAESI Proceedings:** A demand notice for **₹15,09,443.59** was issued by secured creditors. Failure to resolve this could lead to the possession of secured assets or a management takeover by creditors. **2. Regulatory & Industry Risks:** * **Compliance Standards:** Mandatory adherence to **USFDA, EMA, and WHO-GMP** standards. * **Supply Chain:** Vulnerability to **China** for raw materials; the company is mitigating this through its focus on domestic **Import Substitution**. * **Environmental Oversight:** High scrutiny regarding effluent treatment in the Hyderabad pharma cluster. **3. Governance & Human Capital:** * **Lean Operations:** Currently operates with **7 permanent employees**, facing intense competition for specialized scientific talent. * **Risk Management:** An integrated framework is reviewed quarterly by the **Audit Committee** to monitor operational and financial severity. --- ### Leadership & Governance The Board has been reconstituted with technical and strategic experts to lead the pharmaceutical transition: * **Mr. Venkateshwarlu Pulluru:** Whole-time Director * **Mr. Gattu Gnana Prakash:** Director * **Mr. Vupparapalli Chandrashekhar Reddy:** Promoter/Director