1. USFDA-compliant injectable facility - A USFDA-compliant injectable facility with oncology, ampoule, vial and dry injection lines is under construction at Pithampur, with land acquired in April 2025 and a pharma consultant engaged for plant design. Management targets ₹30-35 crore in annual revenue at full capacity and expects the shift to high-margin injectables to help recover EBITDA margins to the 18-20% range.
2. Myanmar export order - A ₹25 crore order book has been secured from Myanmar, backed by 20+ cardiovascular and anti-diabetic products under registration for Myanmar and adjacent markets. The order alone equals roughly 22% of FY26 audited revenue of ₹111.8 crore, adding a material export leg to a business that had nil foreign exchange earnings in FY25.
3. International market expansion - Africa and Southeast Asia - Order engagements have been initiated across Cambodia, Angola, Kenya, Nigeria, Benin, Togo, Niger, Mali, Burkina Faso and neighbouring regions, with a ₹2.0 crore order already received from Angola in May 2025. Management guides that exports will grow from the current 10-15% of revenue to 50% within two years, transforming the revenue mix toward higher-margin international sales.
4. Collagen product line - R&D is in progress for six collagen products, with the segment slated for launch by 1 April 2025. The line diversifies the portfolio into a growing market and adds a new revenue stream from the existing manufacturing base.
5. Advanced manufacturing capex - A ₹30-35 crore capex programme is underway over three years to add two new advanced manufacturing systems, with ₹7.09 crore of IPO proceeds already utilised as of September 2025. The investment expands capacity and efficiency at the existing Pithampur facility, supporting the revenue growth trajectory without adding leverage to a balance sheet carrying only ₹7.89 crore in debt.