No Factory, ₹400 Crore Revenue: How HRV Made It Happen
Business Standard's video opens with a simple question. How does a pharmaceutical company earn more than ₹400 crore when it doesn't own a single plant, production line or reactor?
The answer starts with a gap in the industry. Companies have put over ₹4,800 crore into new bulk drug projects under the PLI scheme, yet many API plants still run at only 50 to 55% of capacity. India has the factories. What it often lacks is enough business flowing through them.
HRV Pharma built its model around that gap. It owns the Drug Master Files and the customer relationships, while more than 50 US FDA and EU approved partners handle production. The video compares it to the way Uber and Airbnb work without owning the cars or the homes.
Today HRV serves 700+ customers across 55 countries, has grown 60 to 65% a year for five years, and is aiming for ₹1,000 crore by FY28. It started with ₹1 lakh, has never raised private equity and remains debt free
Read the full feature in Express Pharma.
