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Business Review

Our Value Creation Model

Our Business

We are an integrated research, development and manufacturing organization providing scientific services from early discovery to commercial supply. We serve a wide range of industrial sectors including pharmaceutical, biotechnology, nutrition, animal health, consumer goods and specialty chemical companies.

  • We deliver shared value
  • We partner with ~400 clients worldwide
  • We aim to offer a great place to work
  • We invest in the communities where we operate
  • We deliver returns to shareholders
  • We comply with national and international regulations for the benefit of people and patients

Our Vision

To be a world-class partner delivering innovative scientific solutions

Our Values

  • Integrity
  • Excellence
  • Professionalism

Our Stakeholders

  • Clients
  • Communities
  • Employees
  • Industry authorities
  • Shareholders

Our Assets

World-class infrastructure

Certified to international standards, offering a breadth of facilities and scale

Responsible environment, social and governance (ESG)

embedded in our operations

Talented Resources

Our focus is on attracting, retaining, and nurturing skilled individuals. We ensure a secure work setting for our diverse workforce of over 8,200 including more than 5,600 scientists

Strategic sourcing

Effective collaboration with suppliers

who deliver high quality materials and capital projects: 2,800+ suppliers

Robust business model

Delivering dynamic growth, profitability and returns with good governance

Our Advantage

Our Advantage: One-stop shop
  • Discovery, development, and manufacturing services for large and small molecules
  • Latest technology platforms to support evolving modalities, 24/7 operational support
  • Strong project management
  • Safety-first throughout all operations
  • ESG strategy and targets reported annually
  • Committed to Science Based Targets initiative (SBTi)
  • Scientific and operational excellence
  • Commitment to diversity in the workplace
  • An agile and personalized learning culture to enable continuous learning and development
  • Leadership development at every tier through a competency framework and targeted development programs
  • Strategic succession planning for business-critical roles across the organization, ensuring long-term stability and growth
  • Integrating data analytics and data-driven decision-making processes to enhance talent management strategies and operational excellence
  • Sustainable partnerships create a resilient value chain
  • ~USD 255 Mn annual spend with suppliers, including capital items
  • Dual-sourcing of critical materials
  • Investment (Gross Block + CWIP) of (~USD 700 Mn1) in infrastructure and facilities
  • Strong track record of growth with good demand visibility for the future
  • Operating EBITDA margins maintained around 29%

Our Value Proposition

Our value proposition
  • End-to-end scientific solutions across multiple modalities and multiple industries
  • Strong track record with major regulators
  • Availability of skills and technology not available in-house for clients (especially with emerging biotech)
  • Focus on customer centricity with a strong service delivery model
  • Integrating environmental stewardship, social responsibility, and strong governance into core operations, ensuring sustainable value creation for all stakeholders
Collaborative expertise, inclusive culture
  • Our collective experience from hundreds of projects enriches client outcomes
  • Regular interactions with clients and the ability to form versatile teams leveraging a wide range of skills available in-house
  • A commitment to equal opportunities: 26% of our permanent roles are filled by women, with 6% women in leadership positions; we also ensure inclusivity for differently-abled employees
  • Opportunities to engage in cutting-edge, global science without the need to relocate from India
Industry leadership through sustainable growth
  • Experienced leadership team
  • Strong governance
  • Strategy to drive investment and growth
  • Absolute focus on efficiency and compliance
  • Track record of reliable delivery

Value Creation

A partner for the long-term
  • Timely project delivery to clients
  • Innovation captured in 400+ patents over thirty years
  • Problem-solving on an industrial scale
  • Opportunities to engage in cutting‑edge, global science without the need to relocate from India
Resilient supply chain
  • Development of supplier capabilities in business ethics and environmental standards
  • On time delivery to clients
  • Availability of key capabilities through experienced suppliers and consultants
  • Revenue from operations growth of 4% for FY25
  • Earnings per share (basic) of Rs 12.4 in FY25
  • Total market cap increase of ~370% since listing (to March 2025)

1 Excluding Funded Assets

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Board Report
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Standalone Financial Statements
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Corporate Governance Report
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Consolidated Financial Statements
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Business Responsibility and Sustainability Report
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Glossary
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Management Discussion and Analysis
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AGM Notice
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Annual Report 2025
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