About Hindustan Laboratories IPO
Hindustan Laboratories IPO will be a 100% book-built issue with a fresh issue of a maximum of 14,100,000 equity shares of face value of Rs. 10. The DRHP of Hindustan Laboratories IPO has been proposed to SEBI on January 3, 2026.
The listing platforms for the equity shares are the NSE and BSE. The issue is the book-building method. There has been no announcement for the price band and the official dates of listing and opening/closing. Beeline Capital Advisors Private Ltd. is the BRLM. Also, the company has integrated with the services of a registrar named 'Link Intime India Pvt Ltd.'
Company Background
Hindustan Laboratories Ltd. has its origins as a private 'Ltd. company' on 'August 16, 2017,' in Mumbai. Over the past two years, the company has grown from a private firm to a public limited company in 2024. The company now stands as an integrated player with a focus on formulations.
The company’s headquarters are situated in Borivali, Mumbai, and it operates in Maharashtra to a large extent. Being a company built upon a strong manufacturing base, it has been able to cater to both the healthcare necessities of the country as well as the quality demands of the world since 2017 onwards. The company’s journey has been a marked transition from merely a manufacturing company to a pharmaceutical company as a whole, albeit with a focus on compliance and quality.
Operations and Product Range
Hindustan Laboratories' operational center revolves around the manufacture of a wide variety of pharmaceutical dosage forms. It must be noted that the varied range of the organization’s product line consists of tablets and soft capsules in both liquid and ointment forms. This helps in catering to various needs in the field of medicine. This product line consists of critical therapeutic classes of drugs such as anti-infectives, analgesics, and dermatological preparations.
By maintaining a versatile portfolio, Hindustan Laboratories Ltd. caters to a large and diverse group of consumers that range from healthcare providers to wholesalers and even buyers of our products. It implies that the company can adapt to changing healthcare trends in an appropriate way.
Facilities and Capacity
Hindustan Laboratories Ltd. functions through two specially dedicated plants to cater to its manufacturing needs. Both these units have been established at Palghar, Maharashtra. One of the most prominent aspects of these units is that they have attained WHO-GMP, which is on a par with global quality control platforms.
One of the major reasons for the IPO of Hindustan Laboratories is the expansion of existing units. HLL plans to utilize resources towards increasing its total installed capacity. This increased capacity would help in catering to increasing demand and possibly expanding into new areas of specialization.
Brands and Market Presence
Hindustan Laboratories Ltd. has established itself over the years by providing quality pharmaceutical products to the market. Even though the firm has managed to do the bulk of its business on the B2B model, its formulations find their way into the domestic Indian marketplace. In essence, the firm has successfully entered the international marketplace by exporting its products to various global destinations that can be competitive because of the firm’s certifications.
Its presence within the export market also receives an endorsement from the certifications received for its Palghar-based factories. Such an edge allows the organizations to gain a competitive edge within the global landscape.
Revenue Streams and Business Model
The main source through which Hindustan Laboratories Ltd. generates revenues is the sales made in the form of manufactured formulations. Such a business model is aimed at seeking operational efficiency through integrated manufacturing as well as a robust supply chain. Through the in-house manufacture of multiple dosage forms, the company is able to have more control in terms of quality.
Financial performance reveals an uptrend within the recent period of operation. In the 2025 financial year, the organization was able to attain revenue from its operations amounting to ₹145.21 crore. This was up from the ₹121.05 crore achieved within the previous financial year. Profit performance has also remained stable throughout the recent period of operation. In the fiscal year 2025, the organization was able to attain a net profit after tax of ₹11.54 crore.
Management and Shareholding
Hindustan Laboratories Ltd. is promoted by Rajesh Vasantray Doshi, Kunjal C. Dedhia, and Krishiv Rajesh Doshi. This core group holds significant experience in the pharmaceutical sector and has been central to the firm's growth since 2017. Before the Hindustan Laboratories IPO, the promoters held the majority of the equity share capital.
Board and Key Management
The board of directors of Hindustan Laboratories Ltd. is headed by Rajesh Vasantray Doshi, who is the chairman and the managing director. The board is composed of executive directors with comprehensive knowledge of the business and independent directors who monitor various aspects of the company.
Hindustan Laboratories IPO Details
| Detail | Description |
|---|---|
| IPO Date | - |
| Listing Date | - |
| Face Value | ₹ 10 per Equity Share |
| Issue Price Band | - |
| Lot Size | - |
| Sale Type | Fresh Issue and Offer for Sale |
| Total Issue Size | Up to 1,41,00,000 Equity Shares |
| Reserved for Market Maker | - |
| Fresh Issue(Ex Market Maker) | Up to 50,00,000 Equity Shares (aggregating up to ₹[●] Cr) |
| Offer for Sale | Up to 91,00,000 Equity Shares (aggregating up to ₹[●] Cr) |
| Net Offered to Public | - |
| Issue Type | 100 % Book Built Offer |
| Listing At | BSE and NSE |
| Share Holding Pre Issue | 100.00 % (Held by Promoters and Promoter Group) |
| Share Holding Post Issue | - |
Hindustan Laboratories IPO Financial Information
Latest Revenue
115.78
₹ Crore
Profit After Tax
18.24
₹ Crore
Net Worth
197.01
₹ Crore
Total Borrowing
3.85
₹ Crore
| Period Ended | Assets | Revenue From Operations | Profit After Tax | Net Worth | Reserves & Surplus | Total Borrowing | |||
|---|---|---|---|---|---|---|---|---|---|
| 30 Sep 2025 (6 Months) | 242.95 | 115.78 | 18.24 | 197.01 | 147.15 | 3.85 | |||
| FY 2025 (31 Mar) | 225.49 | 227.37 | 41.27 | 178.74 | 128.88 | 6.79 | |||
| FY 2024 (31 Mar) | 176.35 | 194.33 | 34.14 | 137.34 | 87.48 | 5.11 | |||
| FY 2023 (31 Mar) | 145.40 | 179.48 | 22.25 | 103.15 | 53.29 | 1.50 | |||
| Amount in ₹ Crore | |||||||||
Hindustan Laboratories Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | - |
| ROCE | 33.13% |
| Debt/Equity | - |
| RoNW | 26.11% |
| PAT Margin | 18.78% |
| EBITDA Margin | 24.52% |
| Price to Book Value | - |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | ₹8.28 (Basic & Diluted) | [.] |
| P/E (x) | [.] | [.] |
IPO Objectives
Hindustan Laboratories Ltd. has identified specific areas for the utilization of the fresh issue proceeds:
- Funding the physical expansion of the manufacturing facilities in Palghar to boost production capacity.
- Working capital to support higher inventory levels and growing sales volumes.
- General Corporate Purposes
Conclusion
Hindustan Laboratories Ltd. has managed to establish a strong presence as a focused and reliable manufacturer within the Indian pharmaceutical industry. The company has demonstrated consistent growth in revenue and profitability through annual increases due to the leveraging of certified facilities under WHO-GMP, as well as a strong and extensive therapeutic portfolio. Also, the Hindustan Laboratories IPO will be able to establish a strong presence as a manufacturer that will comfortably address future healthcare needs globally.
Frequently Asked Questions
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Competitive Strengths
Strategic Manufacturing Locations: Two sites certified by WHO-GMP at the Palghar location for easy management and are suitable for bulk manufacturing.
Diversified Product Portfolio: Serving various forms of dosage in segments including anti-infectives as well as pain management, helps to break the product cycle.
Experienced Leadership: The promoters have decades of experience in the industrial fields/pharmaceutical manufacturing sectors/pharmaceutical industries.
The Integrated Business Model: The benefit of controlling all aspects of the manufacture is improved control of quality issues, regulatory requirements, and margins.
| Sr.no | Description | Date | File |
|---|---|---|---|
| 1 | Filed with SEBI/Exchange | 03/01/2026 | - |
| 2 | SEBI/Exchange approval received | - | - |
Hindustan Laboratories IPO Timeline
| IPO Open Date | - |
| IPO Close Date | - |
| Tentative Allotment | - |
| Initiation of Refunds | - |
| Credit of Shares to Demat | - |
| Tentative Listing Date | - |
| Cut-off time for UPI mandate confirmation | - |
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 1 | — | ~₹14,000 - ₹15,000 |
| Individual investors (Retail) (Max) | 13-14 | — | Up to ₹2,00,000 |
| S-HNI (Min) | 14-15 | — | Over ₹2,00,000 |
| S-HNI (Max) | 66-70 | — | Up to ₹10,00,000 |
| B-HNI (Min) | 71+ | — | Over ₹10,00,000 |