Key takeaways
- Founded in 1972 in Ahmedabad, focused on cardiac and CNS branded generics for India.
- It built anchor strength in cardiology, gastrology and neurology and expanded into Brazil, Germany and the Philippines.
- Serial acquisitions, Elder, Unichem, Curatio, each added a therapy category.
- By FY25 revenue topped ₹11,000 crore with profit above ₹1,800 crore and margins above 30%.
- 1972 Uchitkumar Mehta founds Torrent Pharma in Ahmedabad, focused on cardiac and CNS branded generics for the Indian market.
- 1990 It builds one of India’s strongest domestic branded-generic portfolios, with cardiology, gastrology and neurology as anchors.
- 2005 It expands internationally, making Brazil, Germany and the Philippines significant geographies.
- 2014 It acquires Elder Pharmaceuticals’ women’s-healthcare portfolio.
- 2017 It acquires Unichem’s branded business in India.
- 2022 It acquires Curatio Healthcare for ₹2,000 crore, adding paediatric dermatology.
- 2024 Domestic-formulations momentum stays strong, with Brazil and Germany contributing.
- FY25 Revenue tops ₹11,000 crore with profit above ₹1,800 crore and an operating margin above 30%.
- 2025 Capex on new Dahej and Indrad facilities supports international markets, with domestic branded growth flagged as the structural compounder.
- 2026 Torrent stands as one of the strongest branded-generics franchises in India.
Torrent did not chase the commodity pricing of US generics. It chased Indian and emerging-market brand value through a long series of bolt-on acquisitions, each one adding a category, the whole portfolio compounding. The result is one of the strongest branded-generics franchises in India. Here is the journey, year by year.
The pattern is the point
Torrent did not chase US generics commodity pricing; it chased Indian and emerging-market brand value through serial bolt-on acquisitions, each adding a category while the whole portfolio compounds. The strongest branded-generics franchise in India is also one of the strongest defensives in a rate cycle, with margins to match.
