Founded in 2010, Mumbai-based V-Ensure is a contract drug manufacturing company specializing in the development of complex pharmaceutical formulations for regulated markets. With a focus on patent non-infringing formulations, V-Ensure handles a wide variety of dosage forms and excels in creating complex generic molecules for regulated markets.
V-Ensure reported a significant revenue growth of 75.3% in FY24, reaching Rs 70.94 crore compared to Rs 40.47 crore in FY23. The company turned profitable in FY24, posting a net profit of Rs 11.20 crore, a turnaround from the net loss of Rs 2.73 crore in FY23. The EBITDA margin showed an impressive improvement, increasing to 36.69% in FY24 from 11.47% in FY23, while the ROCE rose to 11.16% in FY24 from 1.56% in FY23.
The company’s expenses increased by 30.2% to Rs 52.28 crore in FY24, up from Rs 40.21 crore in FY23. Employee benefit costs accounted for 26.94% of total expenses in FY24, down from 32.57% in FY23. Advertisement costs reduced to 2.44% of total expenses in FY24, compared to 4.8% in FY23. Depreciation expenses rose to 9.33% of total expenses in FY24, up from 4.33% in FY23, while finance costs reduced to 4.7% in FY24 from 6.5% in FY23. Cost of materials constituted 21.94% of total expenses in FY24, a significant increase from 8.07% in FY23.
V-Ensure has raised a total of Rs 129.83 crore in funding over one round, with its latest Series B round completed in February 2022. Co-founder Sathyanarayana Vemula holds 33.49% equity, followed by Tanas Capital with 4.63% and Kumara Swamy Vemula with 3.6%.