Innova Captab Ltd - Stock Valuation and Financial Performance

Innova Captab was incorporated in Mumbai, Maharashtra, as ‘Harun Health Care Private Limited’, a private limited company under the Companies Act, 1956, pursuant to a certificate of incorporation dated January 3, 2005, issued by the RoC. Thereafter, pursuant to a resolution passed by its Shareholders in the extraordinary general meeting held on December 26, 2009, the name of the Company was changed from ‘Harun Health Care Private Limited’ to ‘Innova Captab Private Limited’, in order to reflect innovations in the pharmaceutical sector. Consequently, a fresh certificate of incorporation dated February 2, 2010, was issued by the RoC to the company. Subsequently, the Company was converted from a private limited company to a public limited company, pursuant to a resolution passed by its Shareholders in the extraordinary general meeting held on July 12, 2018, and consequently, the name of the Company was changed to its present name ‘Innova Captab Limited’, and a fresh certificate of incorporation dated July 26, 2018, was issued by the RoC to the Company.

The company is an integrated pharmaceutical company in India with a presence across the pharmaceuticals value chain including research and development, manufacturing, drug distribution and marketing and exports. Its business includes (i) a contract development and manufacturing organization (CDMO) business providing manufacturing services to Indian pharmaceutical companies, (ii) a domestic branded generics business and (iii) an international branded generics business.

The company’s CDMO services and products include commercial large-scale manufacturing of generic products. It also enters into loan license agreements with its customers. Its comprehensive CDMO formulation capabilities allow it to offer its customers multiple dosage forms, including oral solids, oral liquids, dry syrups and injectables, as well as more complex delivery forms such as modified and sustained release forms and tablets in capsules. It also has added products using new technologies like nano technology. Its CDMO product portfolio spans across both acute and chronic therapeutic areas. It manufacture products across some of the key therapeutic areas identified by, including cephalosporins, proton pump inhibitors, anticholinergic and heparin NSAIDs, analgesics and antipyretic, anticold and antiallergic, antiemetic, antidiabetic, antispasmodic, antifibrinolytic, cardiovascular, antioxidant and vitamins, antihyperuricemia and antigout, fluroquinolone and macrolide, nootropics and neurotronic/neurotrophic, antiulcerative, antimalarial anxiolytic, anticonvulsant and antipsychotic, bladder and prostate disorders, antifungal, anthelmintic and antiviral anticholinergic and anti-asthmatic and bronchodilator and erectile dysfunction. 

The company’s branded generics business consists of the development, manufacture and distribution of generic formulation products, which are marketed and distributed in India under its own brand names through online and offline channels. Its branded generic products are generic medicines for which the patents have expired, that are sold directly to its distributors, stockists and retailers. It has developed a diversified branded generics product portfolio including tablets, capsules, dry syrups, dry powder injection, ointments and liquid orals. It sells its domestic branded generic products through its pan-Indian network of distributors, stockists and pharmacies.

Business area of the company

The company is an integrated pharmaceutical company in India with a presence across the pharmaceuticals value chain including research and development, manufacturing, drug distribution and marketing and exports. Its business includes (i) a CDMO business providing manufacturing services to Indian pharmaceutical companies, (ii) a domestic branded generics business and (iii) an international branded generics business.

Products of the company

• Tablets
• Capsules 
• Dry syrups 
• Dry powder injection.
• Ointments 
• Liquid orals

Awards, accreditations or recognitions

• 2018: Received the company registration certificate for production of cephalosporin products and general products from the Ministry of Health and Population, Republic of Yemen.
• 2018: Received certificate of foreign pharmaceutical manufacturing company registration from the Ministry of Public Health, Islamic Republic of Afghanistan.
• 2019: Received certificate of compliance to good manufacturing practices for manufacture and packaging of general pharmaceutical formulations from Tanzania Medicines and Medical Devices Authority.
• 2019: Received certificate of GMP compliance of a manufacturer for manufacturing operations of medicinal products from the Medicines Authority of Malta.
• 2020 Received recognition for its in-house research and development units from the Department of Scientific and Industrial Research, Ministry of Science and Technology, Government of India.
• 2021: Received GMP certificate for good manufacturing practices for production, packing and quality control of tablets, capsules and external preparations from the Health and Family Welfare Department, Government of Himachal Pradesh.
• 2021: Received GMP certificate for good manufacturing practices in respect of tablets, capsules and external preparations from the Health and Family Welfare Department, Government of Himachal Pradesh.
• 2021: Received the good laboratory practices (GLP) certificate for good laboratory practices for testing of tablets, capsules and external preparations from the Health and Family Welfare Department, Government of Himachal Pradesh.
• 2021: Received certificate of compliance with GMP guidelines for manufacture of beta lactam (cephalasporin) products from the National Drug Authority, Uganda.
• 2021: Received certificate of compliance with GMP guidelines for manufacture of beta lactam (cephalasporin) and non-beta lactam products from the National Drug Authority, Uganda.
• 2021: Received certificate of GMP for production, packing and quality control of cephalasporin and general products from the Health and Family Welfare Department, Government of Himachal Pradesh.
• 2021: Received certificate of GMP compliance for manufacturing/production and aseptic filling of vials of cephalosporin products from the Food, Medicine and Health Care Administration and Control Authority of Ethiopia.
• 2022: Received GMP certificate for good manufacturing practices in respect of beta lactam and non-beta lactam products from the Health and Family Welfare Department, Government of Himachal Pradesh.
• 2022: Received GLP certificate for good laboratory practices for testing of beta lactam and non-beta lactam products from the Health and Family Welfare Department, Government of Himachal Pradesh.

History and milestones 

• 2006: Established its first manufacturing plant in Baddi, Himachal Pradesh.
• 2010: Changed the name of the Company from ‘Harun Health Care Private Limited’ to ‘Innova Captab Private Limited’.
• 2010: Commenced operations at the cephalosporin block of its plant in Baddi, Himachal Pradesh.
• 2013: Crossed Rs 50 crore in total revenue.
• 2013: Received its first international accreditation in the form of certificate of good manufacturing practices (GMP) for all manufacturing activities of the Company in relation to its cephalosporin products from the Ministry of Medical Services, Republic of Kenya.
• 2015: Incorporated Univentis Medicare Limited through which it undertakes its marketing operations.
• 2018: Converted the Company from a private limited company to a public limited company.
• 2019: Crossed Rs 300 crore in total revenue.
• 2021: Leased land to establish industrial plant at Samba, Jammu and Kashmir.
• 2021: Acquired land to build state of art research and development centre in Panchkula, Haryana
• 2021: Acquired the assets and liabilities of Innova Partnership on going concern through slump sale.
• 2021: Acquired Univentis Medicare Limited as a wholly owned subsidiary.
• 2023: Acquisition of Sharon Bio-Medicine Limited through its wholly owned subsidiary Univentis Medicare Limited.