• Debt repayment plan: The company is raising ₹240 crore via a fresh issue in its IPO to repay ₹170 crore of its ₹321 crore total debt.
• Capacity and pipeline: Operating at 70% to 80% utilization across a 15,000-ton technical capacity, the company holds 102 patented products with 108 in the pipeline, aiming to launch one to two technical and three to four patented formulation products annually.
• Margin expansion drivers: Higher profitability has been driven by patented products, whose share of revenue expanded from 5% in 2023 to 17% in the first half, supported by a 2% to 3% annual R&D spend.
• Procurement and supply: Approximately 50% of raw materials are imported primarily from China and 50% are sourced indigenously, with the West Asia crisis causing only minor freight cost increases.
• Geographic market expansion: Beyond its core domestic markets in western India, Andhra Pradesh, Telangana, Punjab, and Haryana, the company is actively expanding its sales footprint across eastern and southern states.