Mumbai-based pharma company Kilitch Drugs (India) Ltd. is aiming to cross Rs 1,000 crore in revenue within the next 3 to 4 years, driven by its upcoming Khopoli manufacturing facility and a strong presence in African and regulated markets.
“Another 3, 4 years, we should be able to surpass Rs 1,000 crore,” said Bhavin Mehta, Whole-Time Director of Kilitch Drugs, in an interview with Moneycontrol. This marks a nearly five-fold jump from the company’s current revenue of around Rs 180 crore. For FY25, Kilitch is also targeting a net profit of Rs 31 crore.
The company has been growing steadily, posting a 30 percent compound annual growth rate (CAGR) over the past five years.
Kilitch is investing Rs 125 crore in a greenfield plant at Khopoli, Maharashtra, through a mix of internal accruals and bank loans. The facility, spread over 15 acres, is expected to be operational by Q3FY25 and will meet international regulatory standards, including those of the EU and USFDA.
“We are going to have 3 units over there, nutraceuticals, oral solid dosage (OSD), and injectables,” Mehta said.
The company expects the new plant to significantly reduce outsourcing costs and expand its product range. It will also pave the way for exports to regulated markets starting FY28–29.
“The facility will offer scalability for the next 10–15 years, with a projected revenue potential,” Mehta said.
Currently, around 60 percent of Kilitch’s manufacturing is outsourced. By bringing production in-house, the company expects to improve its margins, which currently stand at 17 percent EBITDA.
“FY26 might be a little subdued because of expansion, but FY27 will be a good year for us, margin-wise also,” Mehta noted. He added that FY26 would be a stabilisation year, with full ramp-up expected in FY27.
Kilitch aims to maintain 70–75 percent revenue growth during this phase, supported by higher capacity, cost savings, and new product launches.
Africa: the strategic export market
Africa remains Kilitch’s core export market, with operations in 38 out of 58 countries.
The company has a front-end presence in Africa, unlike many Indian peers who exited due to cost pressures.
The company's Ethiopian facility is the largest injectable cephalosporin plant in East Africa, and recently won a government tender, expected to be adding to revenues in FY26.
Kilitch specialises in injectables and eye drops, with a strong pipeline of acute therapies. The company's flagship product, Roipar (paracetamol effervescent tablets), ranks 3 in West Africa, behind GSK and Sanofi.
The company is expanding into chronic therapies like diabetes and hypertension, with registrations underway.
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