The Solapur based Smruthi Organics is doubling its Metformin manufacturing capacity to 5000mt this year at a cost of Rs18crs which will make its USFDA approved facility one of the largest in the world. The API producer has been growing its revenues at a CAGR of 50 percent over the past two years to reach Rs160crs with half its revenues coming from CRAMS. It earned a PAT of Rs10crs last fiscal on a small capital of Rs3crs. Given its strong clientele and traction witnessed in regulated markets of US, Canada and Europe we expect the company to sustain this pace of growth over the next two years as well. Other products like Telmisartan, Fenofibrate among others are showing good momentum.
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