1. Business Model: The company operates as a Contract Development and Manufacturing Organization (CDMO), specializing in the production of pharmaceutical and healthcare ingredients and intermediates. Their focus is on niche products aimed at serving innovator pharmaceutical companies and multinational generic pharmaceutical companies.

2. Core Competencies: The company has developed specialized chemistry capabilities in two primary areas: contrast media intermediates and high-intensity sweeteners. They have invested strategically in research and development (R&D) and manufacturing infrastructure to support these capabilities.

3. Product Range: The company manufactures a wide range of products in-house, including key starting intermediates and advanced intermediates. This in-house production allows them to maintain control over the entire manufacturing process, ensuring consistent product quality and cost-effectiveness.

4. Global Reach: Over the past three financial years, the company has conducted business with more than 350 customers in 35 countries. They have established a loyal customer base, particularly with innovator pharmaceutical companies and multinational generic pharmaceutical companies, often through long-term contracts.

5. Collaboration, Development, Manufacturing Approach: The company’s success is attributed to its “Collaboration, Development, Manufacturing” approach. This approach involves working closely with customers to develop tailored solutions and products that meet their needs. It has been a crucial factor in growing their CDMO business.

6. Product Categories: The company’s operations are organized into three primary product categories:

a) Contrast Media Intermediates: These are critical components in the production of contrast media used in medical imaging, such as X-ray or MRI contrast agents.

b) High-Intensity Sweeteners: This category includes sweetening agents, with a focus on high-intensity sweeteners like saccharin and its salts.

c) Pharma Intermediates and APIs: The company is also involved in the production of pharmaceutical intermediates and active pharmaceutical ingredients, which are fundamental components of drug formulations.

Competitive Strengths

a) Large manufacturer of contrast media intermediates in India
b) Presence in niche categories with high barriers to entry
c) Long-standing relationships and multi-year contracts with multi-national customers