Windlas Biotech Ltd — The Pharma Beneficiary

A focused look at one of India's leading CDMO operators in the generic pharma space, and why it sits at the intersection of multiple structural tailwinds.

Windlas Biotech Ltd — The Pharma Beneficiary — cover image

1. About the Company

Windlas Biotech operates as a leading CDMO player in India's generic pharmaceutical space. Founded in 2001 and listed in August 2021, with five WHO-GMP compliant manufacturing units in Dehradun.

2. Business Segments

Generic Formulations CDMO (73% of FY25 revenue): 5-year revenue CAGR of 14%, 99% product IP owned by Windlas, 757 customers and 5,582 brands.

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