| Capsules | Hard Gelatin and Hard Cellulose Vegetarian Capsules including special variants for pharmaceutical and dietary supplement industries. | Technological edge with fastest machines, first-mover in vegetarian capsules, regulatory approvals, and broad market reach. | B2B to pharmaceutical and supplement manufacturers in domestic and international markets. | Special variant capsules and high-volume contract manufacturing. | 167 | 99 | Sale of capsule shells to pharmaceutical companies on contract and bulk basis. | Contract manufacturing and volume-based pricing with some long-term supply agreements. | New generation machinery increasing capacity; easing of US tariffs; expanding export markets and domestic demand. | |
| API | Steroidal APIs including Prednisolone, Betamethasone, Dexamethasone manufactured via fermentation and synthesis processes. | Only integrated Indian manufacturer of steroidal APIs with patented in-house technology and regulatory approvals. | B2B, focusing on domestic pharmaceutical manufacturers reducing import dependence. | High value-added steroidal APIs under PLI scheme. | 1 | 1 | Sale of steroidal APIs primarily to domestic pharmaceutical firms under PLI-supported schemes. | Sales revenue driven by bulk API supply contracts and government incentives. | Government PLI incentives, backward integration, and in-house patented fermentation technology. | |
