About Indiabulls Pharmaceuticals Limited
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Indiabulls Pharmaceuticals Limited is a public limited company based in Haryana, India, a subsidiary of Zwina Infrastructure Private Limited. It operates in the pharmaceutical retail and distribution segment of the pharmaceuticals sector. It was incorporated on 06 July 2016 and has been in existence for over 10 years.
The company is registered with the Registrar of Companies (ROC), Delhi, under CIN U33119HR2016PLC078088. Its GSTIN is 06AAECI1799P1ZV (Haryana). The company holds 21 GST registrations, all of them active.
The company has an authorised share capital of ₹6.5 Cr and a paid-up capital of ₹6.28 Cr. It is led by directors including Vidya Nand and Monika Panghal.
Its last annual general meeting (AGM) was held on 30 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at 2nd Floor 591, Udyog Vihar Phase – V, Haryana, India – 122016.
As per the financials filed for FY 2022, the company reported a revenue of ₹75.33 Cr, a growth of 42% compared to the previous year. For the same year it recorded a net loss of ₹75.19 Cr (net margin -99.8%) and EBITDA of -₹52.94 Cr (EBITDA margin -70.3%). Revenue has grown at a compounded annual rate (CAGR) of 32% over three years and 196% over five years.
The company has about 340 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: Indiabulls Pharmaceuticals. As per MCA filings, the company has satisfied charges of ₹160 Cr on record. Court records list 8 cases involving the company, including 4 filed by the company and 4 filed against it; 4 cases are pending. The company has 6 deals on record (3 secondary share transfers, 1 convertible or debt financing, 1 funding round), with disclosed funding of ₹315 Cr; the latest was in February 2020. The company has 3 MSME Form 1 returns on record between 2021 and 2022, listing 968 overdue payments to 75 micro and small suppliers.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website indiabullspharmaceuticals.com.
Company details
CIN history
Indiabulls Pharmaceuticals has one previous CIN (Corporate Identification Number): U33119DL2016PLC302608. The current CIN is U33119HR2016PLC078088, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U33119HR2016PLC078088 | Current |
| U33119DL2016PLC302608 | Previous |
Contact details
Indiabulls Pharmaceuticals Limited's registered office is in Haryana. Its website is indiabullspharmaceuticals.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Social Media
- Registered Address2nd Floor 591, Udyog Vihar Phase – V, Haryana, India – 122016
- IndustryPharma, Pharmaceutical Retailers & Distributors
To see the full contact details of Indiabulls Pharmaceuticals Limited, buy the company report.
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
Brands
Indiabulls Pharmaceuticals operates one associated brand: Indiabulls Pharmaceuticals. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Manufacturer of generic products and medical devices for both chronic and acute therapies | indiabullspharmaceuticals.com |
Financials of Indiabulls Pharmaceuticals Limited
FY 2025 filings availableIndiabulls Pharmaceuticals Limited reported revenue of ₹75.33 Cr (up 42% YoY) for FY 2022.
Compounded Annual Growth Rate (CAGR)
Revenue has grown at a compounded annual rate (CAGR) of 196% over five years, including 42% growth in the latest year. Three- and five-year figures are compounded annual growth rates (CAGR): the steady yearly rate that links the first and the last year. All are worked out from the filed statements.
Financial Statement Summary
| Metrics | FY 2021-22 | FY 2020-21 | FY 2019-20 | FY 2018-19 | FY 2017-18 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | |||||
| Other Income | |||||
| Total Revenue | ₹75.33 Cr | ||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | -₹52.94 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | -₹75.19 Cr | ||||
| Balance Sheet | |||||
| Share Capital | |||||
| Reserves and Surplus | |||||
| Net Worth (Total Equity) | |||||
| Long-term Borrowings | |||||
| Short-term Borrowings | |||||
| Trade Payables | |||||
| Total Liabilities | |||||
| Fixed Assets | |||||
| Investments | |||||
| Inventories | |||||
| Trade Receivables | |||||
| Cash and Bank Balance | |||||
| Total Assets | |||||
Financial Ratios
| Metrics | FY 2021-22 | FY 2020-21 | FY 2019-20 | FY 2018-19 | FY 2017-18 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | -70.3% | ||||
| Net Profit Margin | -99.8% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
| Return on Assets (ROA) | |||||
| Liquidity and Debt | |||||
| Current Ratio | |||||
| Quick Ratio | |||||
| Debt-to-Equity Ratio | |||||
| Interest Coverage Ratio | |||||
| Efficiency and Growth | |||||
| Asset Turnover | |||||
| Receivable Days | |||||
| Payable Days | |||||
| Inventory Days | |||||
| Revenue Growth | |||||
| Net Profit Growth | |||||
To see the full financial statements and ratios of Indiabulls Pharmaceuticals Limited, buy the company report.
Board of directors of Indiabulls Pharmaceuticals Limited
Indiabulls Pharmaceuticals has 3 current directors and 12 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Vidya Nand | Director | 20 Aug 2020 | 6 Years 2 Months | Current |
| Monika Panghal Also directs: Indo Sugars Limited, Meru Minerals Private Limited, Kritikka Infrastructure Private Limited and 5 more | Director | 22 Aug 2022 | 4 Years 2 Months | Current |
| Anand Kumar | Director | 20 Aug 2020 | 6 Years 2 Months | Current |
Auditor
Indiabulls Pharmaceuticals Limited is audited by Agarwal Prakash & Co for the financial year 2022.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| Agarwal Prakash & Co | FY 2022 | 005975N |
Shareholding
The shareholding of Indiabulls Pharmaceuticals Limited is on record for 5 financial years, the latest being FY 2022, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2022 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Indiabulls Pharmaceuticals Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 04 Oct 2017 | 100136997 | Others | ₹30 Cr | Satisfied | |
| 05 Sep 2017 | 100136859 | Others | ₹25 Cr | Satisfied | |
| 29 Aug 2017 | 100124723 | Others | ₹10 Cr | Satisfied | |
| 01 Jun 2017 | 100124709 | Others | ₹50 Cr | Satisfied | |
| 31 Mar 2017 | 100120114 | Others | ₹35 Cr | Satisfied |
To see the full charge records of Indiabulls Pharmaceuticals Limited, buy the company report.
Total charge records: 6 View all charges
Deals & funding
Indiabulls Pharmaceuticals Limited has 6 deals on record (3 secondary share transfers, 1 convertible or debt financing, 1 funding round), with disclosed funding of ₹315 Cr; the latest was in February 2020.
Deals on record (5 of 6)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Feb 2020 | Secondary share transfer | Undisclosed | Buyer: Zwina Infrastructure Private Limited Seller: Tamarind Capital Pte Ltd |
| Aug 2018 | Secondary share transfer | Undisclosed | Buyer: Zwina Infrastructure Private Limited Seller: India Best Buy Private Limited |
| Nov 2017 | Funding round | ₹155 Cr | Investors: Tamarind Capital Pte Ltd |
| Oct 2016 | Rights issue | ₹4 Cr | Investors: Zwina Infrastructure Private Limited , an individual |
| Sep 2016 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: Zwina Infrastructure Private Limited |
To see the full deal history of Indiabulls Pharmaceuticals Limited, buy the company report.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Indiabulls Pharmaceuticals Limited has 8 court cases on record: 4 filed by Indiabulls Pharmaceuticals, 4 filed against it. 4 cases are pending and 4 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 6 | 3 | 4 |
| High courts | 1 | 1 | 0 |
| NCLT | 1 | 0 | 0 |
Cases on record (5 of 8)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, North, Delhi | Civil suit | Filed against the company by M/S Abnoll Healthcare Private Limited | Pending |
| High Court of Delhi | Commercial suit | Filed against the company by Alkem Laboratories Ltd | Disposed |
| District court, Rohtak, Haryana | Court case (CS37) | Filed against the company by M/S S and S Distributors Through Is Partners Smt. Vinita Kaushik and Naveen | Pending |
| District court, Lucknow, Uttar Pradesh | Interim or miscellaneous application | Filed by the company against M/S Aryan Pharma and Other | Pending |
| District court, Lucknow, Uttar Pradesh | Civil suit | Filed by the company against M/S Lifeline Medicose and Another | Pending |
To see the full case history of Indiabulls Pharmaceuticals Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
MSME payment delays
Indiabulls Pharmaceuticals Limited has 3 MSME Form 1 returns on record between 2021 and 2022, listing 968 overdue payments to 75 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.
Suppliers with reported dues (5 of 75)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| BMS Wellness Private Limited | |||
| an individual supplier | |||
| Sarv Pharmaceuticals | |||
| Scorpion Express Private Limited | |||
| an individual supplier |
To see the full MSME payment records of Indiabulls Pharmaceuticals Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Employees & EPFO
Indiabulls Pharmaceuticals Limited has a workforce of 340 employees on its EPFO records as of Apr 06, 2024, across 1 active EPFO establishment.
GST
Indiabulls Pharmaceuticals has 21 GST registrations: 21 active. The first 4 active GSTINs are listed below.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 06AAECI1799P1ZV | Haryana | Active | 01 Jul 2017 |
| 03AAECI1799P1Z1 | Punjab | Active | 01 Jul 2017 |
| 05AAECI1799P1ZX | Uttarakhand | Active | 01 Jul 2017 |
| 07AAECI1799P1ZT | Delhi | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Indiabulls Pharmaceuticals Limited, buy the company report.
Recent activity
Indiabulls Pharmaceuticals Limited has 13 board changes on record since 2017: 3 appointments and 10 cessations. The latest: Nikhil Rajgopala Chari ceased to be CEO on 06 Jan 2023.
16 earlier events are in the company report.
News
Frequently asked questions
Indiabulls Pharmaceuticals is an active public limited company based in Haryana, India. The company works in pharmaceutical retailers and distributors, within the pharma industry. It was incorporated on 06 July 2016 (10+ years old) and is registered under CIN U33119HR2016PLC078088.
Indiabulls Pharmaceuticals has 3 current directors:
- Vidya Nand - Director
- Monika Panghal - Director
- Anand Kumar - Director
The latest financial statements of Indiabulls Pharmaceuticals on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 30 September 2025. Year-wise statements from FY 2017 are in the company report.
The GSTIN of Indiabulls Pharmaceuticals is 06AAECI1799P1ZV, registered in Haryana. The company has 21 GST registrations in all, of which 21 are active. Other active GSTINs include 03AAECI1799P1Z1 (Punjab), 05AAECI1799P1ZX (Uttarakhand), 07AAECI1799P1ZT (Delhi).
The CIN (Corporate Identification Number) of Indiabulls Pharmaceuticals is U33119HR2016PLC078088. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Indiabulls Pharmaceuticals has 8 court cases on record: 4 filed by the company and 4 filed against it. 4 are pending. Most are in the district courts.
Indiabulls Pharmaceuticals was incorporated on 06 July 2016, making it 10+ years old. It is registered with the Registrar of Companies, Delhi.
Indiabulls Pharmaceuticals has 6 deals on record (3 secondary share transfers, 1 convertible or debt financing, 1 funding round), with disclosed funding of ₹315 Cr; the latest was in February 2020.
Nikhil Rajgopala Chari ceased to be CEO on 06 Jan 2023. Monika Panghal ceased to be Additional Director on 29 Sep 2022. Rajesh Kapur ceased to be Managing Director on 31 Aug 2022. Indiabulls Pharmaceuticals has 13 board changes on record in total.
Indiabulls Pharmaceuticals has 3 MSME Form 1 returns on record between 2021 and 2022, listing 968 overdue payments to 75 micro and small suppliers. The latest return was filed on 25 Apr 2022.
Indiabulls Pharmaceuticals can be reached through the website indiabullspharmaceuticals.com. Its registered office is in Haryana, India.