What we do Natural Capsules Ltd manufactures hard gelatin and vegetarian capsule shells, supplying pharmaceutical and dietary supplement industries domestically and internationally. |
Founded in 1,993 |
Market share Second-largest gelatin capsule manufacturer in India, pioneering vegetarian capsules. |
Problem solved Provides high-quality capsule shells ensuring safe and efficient drug delivery to pharmaceutical customers worldwide. |
Top clients or who we serve Pharmaceutical and dietary supplement companies globally; serving both regulated and emerging markets. |
Key management Mr. Sunil L Mundra (Managing Director) among others with strong pharma industry experience. |
Our journey and innovations Founded 1993; pioneered vegetarian capsules in India; expanded manufacturing and innovations with latest generation capsule machines. |
Where we operate Exports to 28 countries across Africa, Americas, Asia, and Middle East; manufacturing in Bangalore and Puducherry, India. |
Top products or what we offer Hard gelatin capsules, vegetarian (HPMC) capsules, special variants, and steroidal APIs via subsidiary. |
Top brands No specific brands; flagship products include gelatin and cellulose capsules, expanding into steroidal APIs. |
Raw materials needed Gelatin, cellulose, specialized polymers, and raw materials for steroidal API synthesis. |
Raw materials supplier Not specified; likely specialized chemical suppliers and pharmaceutical-grade sources. |
Recurring vs cyclical contribution Capsules segment contributes majority recurring revenues; API segment currently smaller and developing. |
Our industry position Market leader in India’s capsule manufacturing; foraying into steroidal APIs with government incentives. |
Financial highlights FY25 consolidated revenue ₹169.21 crore with ₹0.62 crore profit after tax; capsules dominate revenue. |
Geographical revenue split Exports constitute 31% of revenues; major markets include Africa, North and South America, Middle East, and Asia. |
Order book - |
Whats driving growth Capacity expansion, technological upgrades, easing US tariffs, PLI incentives for API segment driving growth. |
Our future plans Complete installation of new HPMC lines and expand API commercial production; focus on regulated markets. |
Our green promise Practices include zero liquid discharge facility for API manufacturing and adherence to cGMP standards. |
Our people and values 619 employees with focus on innovation, quality, compliance, and customer service excellence. |
Key challenges ahead Regulatory compliance, stabilizing API fermentation scale-up, temporary operational shutdowns affecting supply. |
Interesting facts First Indian manufacturer of vegetarian capsules; installed global fastest capsule machines; patented API processes. |
Risks and strategy Addressing regulatory challenges, mitigating scale-up delays with partnerships, focusing on regulated markets for stable growth. |
