Shanghvi Gives Sun An M&A Dose Of Growth
Pharma billionaire sees 63% rise in net worth as acquisitions pay off.
Pharma billionaire sees 63% rise in net worth as acquisitions pay off.
Sun Pharma chairman leads the pack with a net worth of ₹2.32 lakh cr; Cyrus Poonawalla follows with ₹1.71 lakh crore.
Full fear FY24 gross sales up 10.4% YoY, EBITDA up 11.8% and adjusted net profit up 16.5%
Dilip Shanghvi family and associate companies terminated shareholders' agreement with Suzlon, which was signed in February 2020.
Cyrus Soli Poonawalla has seen the sharpest increase in wealth in value terms across sectors during the year.
Sun Pharma MD Dilip Shanghvi says in Q2, Sun Pharma recorded double-digit topline growth and strong margins, driven by market share gain in India, and sustained ramp-up of global specialty biz.
It seems the previous capital raised by Suzlon has been blown away and the company is going back to its existing shareholders for raising fresh capital worth ₹1,200 crore through a rights issue.
Cyrus Soli Poonawalla’s Serum Institute of India made the most of the country’s demand for vaccines.
Acquisitions and product focus make Shanghvi India's wealthiest drug maker.
The company, set up and funded by Sun Pharma founder and MD Dilip Shanghvi’s family office, is focusing on AI-led pharma research and development, even offering tech tools to the industry for R&D.