Supriya Lifescience, a pharmaceutical company, plans to double its revenue to Rs 1,000 crore in the next three years. They aim to achieve this by entering new and more profitable segments, such as oral solid dosages, liquid inhalers, and injectibles. The company is investing around Rs 60 crore in a new facility near Mumbai for this expansion.
In addition to this, Supriya Lifescience is adding six to seven new molecules targeting areas like anti-anxiety, anesthesia, and anti-diabetes to its product range. They are also diversifying into contract manufacturing services, which could increase profit margins by 4-5 percentage points. The company expects to reach Rs 1,000 crore in revenue by fiscal year 2027.
Saloni Wagh, a whole-time director and the founder-chairman’s daughter, believes that expanding into new areas and products can increase gross margins to 28-30 percent. The company aims for a revenue growth of 21-22 percent in fiscal year 2025 as it diversifies outside of China and enters new categories.
In fiscal year 2023, Supriya Lifescience achieved a revenue of Rs 460 crore with a 28-30 percent operating margin. The company reported a net profit of Rs 30 crore in the December 2023 quarter, up from Rs 9.5 crore the previous year. It is investing in research and development at its plant in Raigad and preparing to enter highly regulated markets.
The company, which went public in 2021 with a Rs 200-crore IPO, manufactures APIs (Active Pharmaceutical Ingredients) and exports over 80 percent of its products to China, South America, and the Asia-Pacific. With new products, Supriya Lifescience aims to enter the highly regulated North American markets. The company has already filed applications in the US and Europe for eight to ten products from its existing portfolio.
To achieve its revenue target, the company is focusing on R&D, entering new markets, and exploring contract development and manufacturing opportunities. The expansion includes building two new R&D centers for product lifecycle management and new molecule development. The company has also leased land for future expansion at Isambe Industrial Park near Pen in the Raigad district.
