Journey Of Growth
One of India’s largest pharmaceutical magnates, Pankaj Patel runs Cadila Healthcare, which was founded by his father in 1952. He is also the Chairman of Zydus Hospitals, a chain of hospitals in Gujarat, as well as the former President of Ficci.
Cadila has revenues of $1.5 billion and is among India’s top five generic makers, headquartered in Ahmedabad city. In 2017, Patel stepped down as the MD of Cadila, and his son, Sharvil Patel, who is joint managing director, took over as the new MD as part of succession planning. In 2016-17, the consolidated revenues of the company were flat y-o-y at Rs 96.3 billion. However, with the successful completion of regulatory inspections at major formulations manufacturing sites, the company expects to get back to the growth trajectory.
In November 2017, Cadila reported a 32.48 per cent rise in its consolidated net profit to Rs 503.3 crore for the second quarter ended 30 September, mainly on account of robust sales in the US and India.
The company had posted a net profit of Rs 379.9 crore for the corresponding period of the previous fiscal. Consolidated total revenue from operations also rose to Rs 3,234 crore for the quarter under consideration as against Rs 2,403.5 crore in the same period from 2016. The company’s sales in the US rose by 66 per cent to Rs 1,644 crore for the quarter ended 30 September. “At Cadila Healthcare, we possess a culture that will heal, enhance, reinforce, energise, protect and transform corporate and sectoral realities. Our company has demonstrated an ability to evolve, grow and shape its responses to change in its journey of growth. We are at the cusp of exciting growth and feel compelled to share this optimism with all our stakeholders,” said Patel in the annual report of 2016-17.
Cadila Healthcare has received a range of important certifications, which include Medicines Control Council of South Africa and United States Food and Drug Administration. In 2017, Cadila was ranked among the Top 3 players in the promoter covered market of gynecology, respiratory, pain management, cardiovascular, dermatology and gastrointestinal therapeutic areas.
