Hindustan Laboratories IPO - Date, Price Band & Details

Hindustan Laboratories Limited was incorporated in June 2017 by three promoters — Rajesh Vasantray Doshi, Kunjal C. Dedhia, and Krishiv Rajesh Doshi. The Mumbai-based company manufactures and supplies generic medicines to government bodies, operating almost entirely on a B2G (business-to-government) model.

Rather than targeting retail pharmacies or private hospitals, the company wins business through government tenders — both at the central and state level. Its products reach healthcare programs under the Ministry of Health and Family Welfare and state procurement agencies, currently covering 27 states and union territories across India.

The product range runs across several therapy areas: anti-infectives, cardiac care, vitamins, blood-related treatments, gastrointestinal drugs, pain management, anti-diabetics, anti-malarials, and respiratory medicines. By September 2025, the portfolio had grown to 948 approved formulations, up from 661 in FY23. Vitamins, blood-related treatments, antiparasitic drugs, and analgesics together account for over 60% of revenues.

Manufacturing is done at a single integrated facility in Palghar, which holds WHO-GMP certification and has over 900 approved formulations on its books. The company employs 284 permanent staff and 332 contract workers as of September 2025.

Financially, the company has been growing steadily. Revenue from operations for FY25 stood at ₹219.74 crore, up about 18% from the previous year, while profit after tax rose to ₹41.26 crore from ₹34.13 crore in FY24.