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The Indore edition · 2026

Healthcarecompanies in Indore

Hospitals, pharma, clinics, ayurveda, medical devices and more: the companies building healthcare in Indore, Madhya Pradesh, with their founders, funding, team size and business models.

Explore in Radar See the ranked list ↓
154 company profiles56 with reported revenue1 with recorded fundingOctober 2026 edition
Indore · Photo: Wikimedia Commons (Creative Commons Attribution-ShareAlike 4.0)

Recent healthcare business events in India

Funding, M&A, contract wins and launches involving 20,519 healthcare companies in India, last 24 months: 417 M&A deals · 110 funding rounds · 104 Contracts · 27 launches. Newest first; companies and investors link to their Fliar profiles. Latest event in our news feed: Jun 2026.

M&AAcquisition · Announced

True north acquires Embio

According to reports, True North invested about INR 478 crores to acquire a 25 percent stake in Embio.

Pharmaceuticals
M&AAcquisition · Announced

Skymap pharmaceuticals acquires Indian Medicines Pharmaceutical Corporation Ltd

The Indian government has officially approved the acquisition of Indian Medicines Pharmaceutical Corporation Ltd (IMPCL) by Skymap Pharmaceuticals Pvt Ltd for ₹121 crore.

Pharmaceuticals
FundingSecondary

Marengo asia healthcare

Marengo Asia Healthcare, the hospital platform backed by Samara Capital and the family offices of the Havells and Godrej groups, is seeking to raise ₹400-500 crore, with LeapFrog…

Investors Leapfrog investments, Ifc, Niif
Healthcare
M&AAcquisition · Announced

Marksans pharma acquires Qliniq

On June 1, 2026, Marksans Pharma Ltd confirmed the plan for acquisition of 100% of the share capital of QliniQ B.V. for a total consideration of €7,500,000.

Pharmaceutical
M&AAcquisition · Announced

Zydus lifesciences acquires Assertio

Paul, Weiss is advising Zydus Lifesciences Limited, an India-based global life sciences company, its acquisition of a U.S.-based pharmaceutical company focused on specialty and…

Pharmaceutical
M&AAcquisition · Announced

Torrent pharma acquires JB Chemicals & Pharma (JBCP)

The acquisition of JB Chemicals & Pharma (JBCP) appears strategically compelling, making it the 5th largest player in the domestic pharma market.

Pharma
M&AAcquisition · Announced

Anupam Rasayan India acquires Bliss gvs pharma

New Delhi, Specialty chemicals maker Anupam Rasayan India has signed an agreement to acquire up to 43.3 per cent stake in pharmaceutical formulations company Bliss GVS Pharma Ltd for an…

Pharmaceutical formulations
M&AMerger · Announced

Apollo health and lifestyle limited acquires Kids Clinic India Limited

Under the agreement, Apollo Health and Lifestyle Limited (AHLL), a subsidiary of Apollo Hospitals Enterprise, is combining its 'Apollo Cradle' and 'Apollo Fertility' units with Kids…

Healthcare
M&AAcquisition · Announced

Orchid pharma acquires Allecra

Orchid Pharma has acquired global rights to Enmetazobactam and the trademark Exblifep from Allecra, pending completion within three months.

Pharmaceuticals
M&AAcquisition · Completed

Singularity Equity Fund 1 acquires Hemant Surgical Industries

Ace investor Madhusudan Kela has acquired a 5% stake in Hemant Surgical Industries, with the company allotting 6,49,600 equity shares to Singularity Equity Fund 1 — the fund through…

Medical consumables and surgical products
M&AAcquisition · Announced

Niraj Rajnikant Shah acquires Speciality Medicines

Niraj Rajnikant Shah has signaled strong investor confidence in Speciality Medicines Ltd by planning to acquire 5,47,000 shares, increasing his stake to 6.22% of the company's total…

Pharmaceutical
M&AAcquisition · Completed

Sunways acquires Indoco remedies

Indoco Remedies has successfully completed the transfer of its ophthalmic business division to Sunways (India) Private Limited. This strategic move, finalised on May 18, 2026, involves…

Pharmaceuticals
M&AAcquisition · Completed

Max Healthcare Institute acquires Kalinga hospital

Max Healthcare Institute has successfully acquired a 58.28% controlling stake in Kalinga Hospital Ltd. (KHL) for an aggregate consideration of approximately ₹297.97 crore.

Healthcare
M&AAcquisition · Announced

Zydus lifesciences acquires Assertio Holdings

Zydus Lifesciences will acquire US-based Assertio Holdings in an all-cash transaction valued at around $166.4 million, as the Indian drugmaker steps up its presence in specialty…

Pharmaceutical
M&AAcquisition · Terminated

Vasa Denticity Limited acquires IDS Denmed

Vasa Denticity Limited has informed the National Stock Exchange of India Ltd that it and IDS Denmed Private Limited have mutually decided not to proceed with their proposed acquisition.

Dental/Business
M&AAcquisition · Announced

Sun pharmaceutical industries acquires Organon

The pharmaceutical sector accounted for the vast majority of the financial commitment, with planned investments exceeding $19.1 billion, led by Sun Pharmaceutical Industries Ltd, which…

Pharmaceutical
Contract

Sun pharma · client: Organon

Sun Pharma To Acquire Organon in USD 11.75 Billion Deal, Marks Biggest Indian Pharma Acquisition Ever.

M&AAcquisition · Completed

Piramal Pharma acquires Kenalog

Piramal Pharma recently completed the Kenalog acquisition

Pharmaceutical
FundingStrategic investment

Rivarp medical

Jashvik Capital today announced that its portfolio company, Futura Medtech, has made a strategic investment in Rivarp Medical, a Bengaluru-based manufacturer of medical devices and…

Investors Futura Medtech
Medical devices
FundingInitial investment

Baby memorial hospital

KKR had initially invested ₹2,100 crore in Baby Memorial Hospital in July 2024 to create a platform of hospitals in southern India.

Investors Kkr
Healthcare
M&AAcquisition · Announced

Organon acquires Sun pharma

US pharmaceutical company Organon is going to buy 100 percent stake in India 's Sun Pharma.

M&AAcquisition · Announced

Gujarat themis biosyn acquires Sanofi

Introduction Shares of Gujarat Themis Biosyn Ltd surged sharply after the company announced a major acquisition deal with Sanofi.

Pharmaceuticals
LaunchSynchronous Motors Market Size 2026 Report

Datam intelligence

DataM Intelligence has unveiled its latest report on the 'Synchronous Motors Market Size 2026' delivering powerful insights into key trends, future growth opportunities, and evolving…

Report
M&AAcquisition · Announced

Corona remedies acquires Dr. reddy's laboratories

Corona Remedies announced the acquisition of the Wokadine brand from Dr. Reddy's Laboratories to strengthen its presence in targeted specialty segment and offer wider accessibility.

Pharmaceuticals
M&AAcquisition · Announced

Corona remedies acquires Wokadine

Corona Remedies announced the acquisition of the Wokadine brand from Dr. Reddy's Laboratories to strengthen its presence in targeted specialty segment and offer wider accessibility.

Pharmaceuticals
ContractService

Aurobindo pharma · client: Msd

The company’s arm has expanded its contract manufacturing (CMO) agreement with MSD and plans to set up a new unit with an investment of $150–175 million, indicating a strong push in the…

FundingSeed

Last Mile Care

Last Mile Care Pvt Ltd, a burgeoning healthcare start-up, announced on Wednesday that it has successfully raised close to USD 1 million in a seed funding round masterminded by Philip…

Investors Philip Foundation's impact investment arm, World diabetes foundation, We Share Forward Foundation, High-net-worth individual investors
Healthcare
M&AAcquisition · Announced

Rubicon research acquires Arinna lifesciences

Thane-based Rubicon Research Limited has acquired an 85 per cent equity stake in Ahmedabad-based Arinna Lifesciences Limited, marking its entry into India's domestic formulations market,…

Pharmaceutical
M&AAcquisition · Completed

Carlyle acquires Knack global

Carlyle picked up a majority stake in Florida based Knack Global at a valuation of around $500 million.

ContractSupply

Panacea biotec · client: Central Medical Services Society (CMSS)

Panacea Biotec has announced the receipt of a Letter of Award from the Central Medical Services Society (CMSS), under the Ministry of Health and Family Welfare, Government of India. The…

Healthcare

Healthcare companies in Indore, by revenue

Browse healthcare companies in Indore by reported revenue, one-year revenue growth, revenue model, age and stage. The 50 companies below are the largest by their most recent reported revenue among 56 healthcare companies in Indore, Madhya Pradesh that have filed a figure in the last four years. Every figure keeps its own reporting period, so compare periods before comparing amounts.

Showing 25 of 50

Provider of marketing services for healthcare industry

Services for healthcare providers
₹674.30 crFY 2021-22
Not reported
—Not available
7 yr2019
—No postings tracked

Pharmaceutical manufacturing company that specializes in medicaments addressing healthcare requirements

Traditional pharmaceuticals
₹135.93 crFY 2024-25
+2%2024–2025
155+38% 12 mo to Sep 2024LinkedIn · Oct 2026
26 yr2000
0none in 3 months · last posted Jun 2026

Manufacturer of drugs

Traditional pharmaceuticals
₹123.63 crFY 2023-24
Not reported
43+8% 12 mo to Sep 2024LinkedIn · Oct 2026
59 yr1967
—No postings tracked

Manufacturer of nutraceutical, herbal, and cosmeceutical products

Traditional nutraceuticals
₹79.64 crFY 2024-25
+50%2024–2025
184LinkedIn · Jul 2026
42 yr1984
0none in 3 months

Manufacturer of generic & patent allopathic and ayurvedic pharma formulations

Traditional pharmaceuticals
₹58.01 crFY 2021-22
Not reported
92LinkedIn · Jul 2026
60 yr1966
0none in 3 months · last posted Jun 2026

manufcturer of hygienic and infection free products

Traditional medical devices
₹62.62 crFY 2024-25
+45%2024–2025
7+23% 12 mo to Sep 2024LinkedIn · Oct 2026
41 yr1985
0none in 3 months

Manufacturer of high-quality HDPE bottles and CRC caps

Medical device outsourcing
₹58.15 crFY 2024-25
+5%2024–2025
50LinkedIn · Jul 2026
44 yr1982
0none in 3 months

CDMO focused on manufacturing API

Biopharma outsourcing
₹57.30 crFY 2024-25
+8%2024–2025
60+5% 12 mo to Mar 2024recorded Mar 2024
22 yr2004
0none in 3 months

Multi-specialty hospital providing a range of medical services, including gastroenterology, physiotherapy, and cosmetic surgery

Hospitals
₹55.42 crFY 2024-25
+26%2024–2025
33LinkedIn · Jul 2026
41 yr1985
0none in 3 months

Manufacturer of injectable drugs

Traditional pharmaceuticals
₹54.68 crFY 2024-25
-2%2024–2025
31+6% 12 mo to Mar 2024LinkedIn · Jul 2026
28 yr1998
0none in 3 months

Distributor of specialty drugs

Pharmaceutical distributors
₹50.98 crFY 2024-25
+208%2024–2025
—Not available
27 yr1999
0none in 3 months

Provider of healthcare, AI/ML operations, and end to end HR services

Bpo services
₹50.72 crFY 2024-25
-3%2024–2025
970-8% 12 mo to Sep 2024LinkedIn · Jul 2026
10 yr2016
9postings · last posted Sep 2026

Manufacturer of disposable medical, surgical, cotton, hygiene, and orthopedic products

Medical supplies and consumables
₹50.45 crFY 2024-25
+12%2024–2025
61-10% 12 mo to Sep 2024LinkedIn · Jul 2026
33 yr1993
0none in 3 months · last posted Nov 2025

Provider of drug development, manufacturing, and packaging solutions

Traditional pharmaceuticals
₹48.87 crFY 2024-25
+10%2024–2025
8LinkedIn · Jul 2026
18 yr2008
0none in 3 months · last posted Jun 2026

Chain of pathology & radiology labs

Clinical laboratory chains
₹47.91 crFY 2024-25
+18%2024–2025
114LinkedIn · Jul 2026
35 yr1991
0none in 3 months · last posted Jul 2026

Distributor of medical devices

Medical device distributors
₹47.11 crFY 2024-25
+44%2024–2025
—Not available
7 yr2019
0none in 3 months

Manufacturer of APIs and intermediates

Traditional pharmaceuticals
₹44.46 crFY 2024-25
+28%2024–2025
36LinkedIn · Jul 2026
29 yr1997
0none in 3 months

Manufacturer of pharmaceutical formulations across various dosage forms

Traditional pharmaceuticals
₹35.36 crFY 2024-25
+0%2024–2025
43+6% 12 mo to Sep 2024LinkedIn · Jul 2026
44 yr1982
0none in 3 months

Manufacturer, exporter and supplier of pharmaceutical and plastic products

Biopharma outsourcing
₹33.71 crFY 2024-25
-17%2024–2025
11-39% 12 mo to Sep 2024recorded Sep 2024
41 yr1985
0none in 3 months

Internet-first brand offering organic beauty care products

Traditional nutraceuticals
₹31.34 crFY 2024-25
+4%2024–2025
63-22% 12 mo to Sep 2024LinkedIn · Jul 2026
8 yr2018
0none in 3 months

Provider of multi-specialty healthcare services

Hospitals
₹28.27 crFY 2024-25
+15%2024–2025
182+14% vs previous recordrecorded
31 yr1995
0none in 3 months

Manufacturer of empty gelatin capsules

Biopharma outsourcing
₹28.21 crFY 2024-25
+1%2024–2025
44LinkedIn · Oct 2026
43 yr1983
0none in 3 months

Manufacturer and exporter of raw materials for pharmaceuticals

Pharmaceutical distributors
₹27.91 crFY 2024-25
+7%2024–2025
—Not available
30 yr1996
0none in 3 months

Soft Medicaps Limited - ISO 9001:2015 Certified Company

Traditional pharmaceuticals
₹26.38 crFY 2024-25
+87%2024–2025
100LinkedIn · Jul 2026
28 yr1998
0none in 3 months

Standalone multi-speciality hospital

Hospitals
₹26.15 crFY 2024-25
+16%2024–2025
—Not available
26 yr2000
0none in 3 months
50 of 154 companies shown here · the full list is on Radar
Fliar Radar

Explore all 154 healthcare companies in Indore on Radar

This page shows the top 50. Radar has the complete, filterable list with contacts and live company signals.

Open healthcare in Indore on Radar
  • Every company, not just 50All 154 healthcare companies in Indore, filterable by stage, funding, team size, revenue model and age.
  • Founders and decision-makersLeadership teams with roles and verified LinkedIn profiles, ready for outreach.
  • Live signalsFunding rounds, hiring, launches and M&A as they happen, with alerts on the companies you follow.
  • Save and exportBuild lists, compare companies side by side and export them from your Radar account.

Explore healthcare companies in Indore by what you are looking for

Browse top healthcare companies in Indore, from hospitals and clinics to pharmaceutical makers and distributors. You can also find healthcare startups in Indore and healthcare companies hiring in Indore.

9 ways to explore healthcare in Indore

Hospitals & hospital chainsPharmaceutical manufacturers & distributorsClinics & specialty care centresAyurvedic & alternative medicine makersMedical device & equipment suppliersHealthcare services, labs & home care

Hospitals & hospital chains

Multispecialty and single specialty hospitals and hospital groups in Indore.

  1. Gokuldas Hospital

    Multi-specialty hospital providing a range of medical services, including gastroenterology, physiotherapy, and cosmetic surgery

    Hospitals
    See in list
  2. Life Care Hospital

    Provider of multi-specialty healthcare services

    Hospitals
    See in list
  3. Unique Hospital & Research Centre

    Standalone multi-speciality hospital

    Hospitals
    See in list
  4. Retina Speciality eye hospitals

    Standalone tertiary care eye hospital

    Hospitals
    See in list
  5. Sahaj Hospital

    Operator of a facility providing medical and surgical healthcare services

    Hospitals
    See in list
17 companies in IndoreAll 1,426 hospitals companies in India →

Pharmaceutical manufacturers & distributors

Drug makers, contract manufacturers and pharmaceutical distributors based in Indore.

  1. Zenith Drugs

    Pharmaceutical manufacturing company that specializes in medicaments addressing healthcare requirements

    Traditional pharmaceuticals
    See in list
  2. Alpa Laboratories

    Manufacturer of drugs

    Traditional pharmaceuticals
    See in list
  3. Cyano Pharma

    Manufacturer of generic & patent allopathic and ayurvedic pharma formulations

    Traditional pharmaceuticals
    See in list
  4. PAPCON

    Manufacturer of high-quality HDPE bottles and CRC caps

    Medical device outsourcing
    See in list
  5. Rini Life Science

    CDMO focused on manufacturing API

    Biopharma outsourcing
    See in list
39 companies in IndoreAll 1,152 traditional pharmaceuticals companies in India →

Clinics & specialty care centres

Dental, skin, eye, orthopedic and other specialty clinics and clinic chains.

  1. Monaris skin clinic

    Chain of skin and hair clinics

    Clinic chains
    See in list
  2. Ideal Dental Care

    Provider of oral healthcare and dental implant services

    Clinics
    See in list
  3. Sahaj Therapy

    Standalone pain clinic

    Clinics
    Website
  4. SEWA Centre

    Standalone general clinic

    Clinics
    Website
  5. Advanced Homeo Health Centre

    Provider of homeopathic treatments for various ailments

    Clinics
    Website
22 companies in IndoreAll 695 clinics companies in India →

Ayurvedic & alternative medicine makers

Makers of ayurvedic, herbal, unani and homeopathic medicines and nutraceuticals.

  1. Makin Laboratories

    Manufacturer of nutraceutical, herbal, and cosmeceutical products

    Traditional nutraceuticals
    See in list
  2. Cyano Pharma

    Manufacturer of generic & patent allopathic and ayurvedic pharma formulations

    Traditional pharmaceuticals
    See in list
  3. Kshipra Biotech

    Manufacturer and supplier of standardized herbal extracts

    Alternative medicine products
    See in list
  4. Simply herbal

    Provider of wide range of health nutrition and fitness supplements

    Traditional nutraceuticals
    See in list
  5. Swaarnim Naturscience

    Provider of Ayurvedic herbal supplements for wellness

    Traditional nutraceuticals
    See in list
18 companies in IndoreAll 283 alternative medicine products companies in India →

Medical device & equipment suppliers

Distributors and makers of medical devices, supplies and consumables.

  1. Raaj Medisafe India

    manufcturer of hygienic and infection free products

    Traditional medical devices
    See in list
  2. Jajoo Surgical

    Manufacturer of disposable medical, surgical, cotton, hygiene, and orthopedic products

    Medical supplies and consumables
    See in list
  3. Virtuoso Medico

    Distributor of medical devices

    Medical device distributors
    See in list
  4. TeethFast

    Provider of dental equipment distribution services

    Medical device distributors
    See in list
  5. Scintiglo

    Medical technology start-up company developing and manufacturing point-of-care devices for the rapid and accurate estimation of microalbuminuria in urine

    Medical device outsourcing
    Website
16 companies in IndoreAll 277 medical device distributors companies in India →

Healthcare services, labs & home care

Diagnostic labs, home healthcare, rehabilitation and services for healthcare providers.

  1. Biomech Healthcare

    Provider of marketing services for healthcare industry

    Services for healthcare providers
    See in list
  2. Annova Solutions

    Provider of healthcare, AI/ML operations, and end to end HR services

    Bpo services
    See in list
  3. Sampurna Sodani Diagnostic Clinic

    Chain of pathology & radiology labs

    Clinical laboratory chains
    See in list
  4. Endocrine Laboratory

    Provider of laboratory services specializing in allergy and endocrine testings

    Clinical laboratory chains
    See in list
  5. Uevolve

    Provider of teleradiology services, including emergency, neuroradiology, and pediatric imaging

    Services for healthcare providers
    See in list
20 companies in IndoreAll 381 services for healthcare providers companies in India →

Healthcare startups in Indore

Recently founded healthcare companies in Indore.

  1. TeethFast

    Provider of dental equipment distribution services

    Medical device distributors
    See in list
  2. Uevolve

    Provider of teleradiology services, including emergency, neuroradiology, and pediatric imaging

    Services for healthcare providers
    See in list
  3. Vyoum Biotech

    Biotech company focused on revolutionizing the way we interact with the environment through the power of biotechnology.

    Biopharma outsourcing
    Website
  4. RouteIn Yoga

    Online platform offering yoga courses and wellness programs

    Fitness and wellness centers
    Website
  5. Godaura

    Provider of meditation services

    Fitness and wellness centers
    Website
28 companies in Indore

Healthcare companies hiring in Indore

Healthcare companies in Indore with open roles right now.

  1. Zenith Drugs

    Pharmaceutical manufacturing company that specializes in medicaments addressing healthcare requirements

    Traditional pharmaceuticals
    See in list
  2. Cyano Pharma

    Manufacturer of generic & patent allopathic and ayurvedic pharma formulations

    Traditional pharmaceuticals
    See in list
  3. Annova Solutions

    Provider of healthcare, AI/ML operations, and end to end HR services

    Bpo services
    See in list
  4. Jajoo Surgical

    Manufacturer of disposable medical, surgical, cotton, hygiene, and orthopedic products

    Medical supplies and consumables
    See in list
  5. PCI Pharma Services

    Provider of drug development, manufacturing, and packaging solutions

    Traditional pharmaceuticals
    See in list
11 companies in Indore

Listed healthcare companies in Indore

Publicly listed healthcare companies based in Indore.

  1. Zenith Drugs

    Pharmaceutical manufacturing company that specializes in medicaments addressing healthcare requirements

    Traditional pharmaceuticals
    See in list
  2. Raaj Medisafe India

    manufcturer of hygienic and infection free products

    Traditional medical devices
    See in list
  3. Biofil Chemicals and Pharmaceuticals

    Manufacturer, exporter and supplier of pharmaceutical and plastic products

    Biopharma outsourcing
    See in list
  4. Medi-Caps

    Manufacturer of empty gelatin capsules

    Biopharma outsourcing
    See in list
  5. Syncom Healthcare

    Supplier of handmade sandwiches, platters, and other lunch items

    Traditional pharmaceuticals
    Website
5 companies in Indore
Mobile reach

Top 4 healthcare apps from Indore

The most-installed Android apps published by healthcare companies headquartered in Indore — 5K installs between them. 4 companies on this page publish at least one app; each company (legal entity) appears once, with its most-installed app.

1 of 4
1

Sampurna Care

by Sampurna

Installs4K
Rating—
Last updatedJul 2025
Legal entityCreliant Software Private Limiteddeclared on Google Play
View on Google Play ↗
Sampurna Care screenshot 1Sampurna Care screenshot 2Sampurna Care screenshot 3
2

Xcross Fitness - Diet Plan, Ex

by Xcross Fitness

Installs1K
Rating—
Last updatedFeb 2026
Legal entityCREDENCE PROPOSALS PRIVATE LIMITEDCIN U50500MP2018PTC046241filed accounts
View on Google Play ↗
Xcross Fitness - Diet Plan, Ex screenshot 1Xcross Fitness - Diet Plan, Ex screenshot 2Xcross Fitness - Diet Plan, Ex screenshot 3Xcross Fitness - Diet Plan, Ex screenshot 4Xcross Fitness - Diet Plan, Ex screenshot 5Xcross Fitness - Diet Plan, Ex screenshot 6
The business behind the activity

Healthcare financials in Indore

Revenue, profit and growth from the filed annual accounts of 59 healthcare companies in Indore, Madhya Pradesh for FY24-25 — 62 of the 154 companies on this page file accounts with the Ministry of Corporate Affairs. The five largest earn 34% of the revenue, so medians describe the typical company better than totals.

combined revenue, FY24-25₹1,568.76 cr

59 companies filing accounts

combined net profit₹78.65 cr

5.0% aggregate margin

are profitable81%

48 of 59 companies

median revenue~₹14.5 cr

the typical company

median revenue growth+10%

into FY24-25

earned by the top five34%

revenue concentration

Six-year view

Combined revenue of filing companies

₹997.17 crFY19-2049 filers
₹1,145.50 crFY20-2150 filers
₹1,241.90 crFY21-2252 filers
₹1,210.24 crFY22-2355 filers
₹1,356.64 crFY23-2458 filers
₹1,568.76 crFY24-2559 filers

The number of companies filing changes each year; the three-year cohort below compares like with like.

Like-for-like

The same 52 companies over three years

+30%
FY22-23₹1,201.47 cr₹73.39 cr net
FY23-24₹1,352.58 cr₹94.26 cr net
FY24-25₹1,560.78 cr₹80.41 cr net

Companies with accounts for all three years, so growth is not an artefact of who filed.

Scale and profit

Bigger companies are far more often profitable

Under ₹1 cr1145% profitable
₹1–10 cr1267% profitable
₹10–100 cr3397% profitable
₹100–1,000 cr3100% profitable
Over ₹1,000 cr0—

Companies by FY24-25 revenue. Bars show how many companies sit in each band.

Momentum

How fast revenue moved into FY24-25

Shrinking15
0–20%22
20–50%8
50–100%7
Doubled+5

57 companies with accounts for both years; median growth +10%.

Profitability

Profit is concentrated at the top

48profitable
11loss-making
5.0%aggregate margin
1.7%median margin

The aggregate margin is pulled up by a few large filers; the median shows the typical company.

Growth leaders · ₹10 cr+ revenue

Fastest growing, FY24-25

CompanyGrowthRevenue
Maikal Kanya InternationalMAIKAL KANYA INTERNATIONAL PRIVATE LIMITED+502%
D.J. LaboratoriesD.J.LABORATORIES PRIVATE LIMITED+208%₹50.98 cr
PanjonPANJON LIMITED
Soft MedicapsSOFT MEDICAPS LIMITED+87%₹26.38 cr
PiousPIOUS LABORATORIES PRIVATE LIMITED
Makin LaboratoriesMAKIN LABORATORIES PRIVATE LIMITED+50%₹79.64 cr
Profit leaders · ₹10 cr+ revenue

Highest net margins, FY24-25

CompanyMarginRevenue
PiousPIOUS LABORATORIES PRIVATE LIMITED
Medi-Square HospitalMEDI-SQUARE HOSPITAL PRIVATE LIMITED
Nandani Medical LaboratoriesNANDANI MEDICAL LABORATORIES PVT LTD17.1%₹54.68 cr
Alpa LaboratoriesALPA LABORATORIES LIMITED14.5%₹135.76 cr
Raaj Medisafe IndiaRAAJ MEDISAFE INDIA LIMITED9.8%₹62.62 cr
Life Care HospitalLIFE CARE HOSPITAL PRIVATE LIMITED9.6%₹28.27 cr
Inside the industry

Sub-sectors compared, FY24-25

Sub-sectorCompaniesRevenueMedian revenueProfitableMargin
Traditional pharmaceuticals11₹515.86 cr~₹35.4 cr91%8.0%
Biopharma outsourcing8₹267.83 cr~₹17.3 cr88%4.2%
Hospitals7₹177.20 cr~₹21.3 cr86%5.2%
Pharmaceutical distributors5₹99.61 cr~₹10.2 cr100%3.8%
Leaders

Largest healthcare companies by revenue, FY24-25

Company · legal entityRevenueNet resultMarginGrowth
Zenith DrugsZENITH DRUGS LIMITED₹135.93 cr₹7.16 cr5.3%+2%
Alpa LaboratoriesALPA LABORATORIES LIMITED₹135.76 cr₹19.68 cr14.5%+10%
PIONEER LABORATORIES INDIARAJ PIONEER LABORATORIES INDIA PRIVATE LIMITED₹125.35 cr₹3.31 cr2.6%+13%
Makin LaboratoriesMAKIN LABORATORIES PRIVATE LIMITED₹79.64 cr₹2.15 cr2.7%+50%
Raaj Medisafe IndiaRAAJ MEDISAFE INDIA LIMITED₹62.62 cr₹6.13 cr9.8%+45%
PAPCONPAPCON (INDORE) PVT LTD₹58.15 cr₹27.15 lakh0.5%+5%
Rini Life ScienceRINI LIFE SCIENCE PRIVATE LIMITED₹57.30 cr₹1.52 cr2.6%+8%
Gokuldas HospitalGOKULDAS HOSPITALS PRIVATE LIMITED₹55.42 cr₹28.03 lakh0.5%+26%
Nandani Medical LaboratoriesNANDANI MEDICAL LABORATORIES PVT LTD₹54.68 cr₹9.37 cr17.1%-2%
D.J. LaboratoriesD.J.LABORATORIES PRIVATE LIMITED₹50.98 cr₹2.14 cr4.2%+208%
Some figures are available to Radar members.Log in to Radar to see every figure

Standalone annual accounts filed with the Ministry of Corporate Affairs. Brands that share one legal entity are shown together and counted once.

For investors and data teams

Put this intelligence into your own tools

The figures on this page come from Fliar’s company, funding and MCA filings data. Use it through the Investor Intelligence API and MCA financials feeds, or explore every company, filing and investor in Radar.

Capital & corporate activity

Healthcare funding and M&A across India

1,369 recorded equity rounds have gone to 20,519 healthcare companies in India — how much, at which stage, into which sub-sectors, from whom, and how Indore compares. Debt, IPO and grant rounds are excluded.

equity rounds, last 12 months31

US$474.33m

equity rounds, last 24 months109

US$1.34bn

raised over five yearsUS$5.38bn

511 rounds in India

M&A deals, India417

last 24 months

Capital by year

Equity funding into healthcare in India

amount rounds
$767m201874
$582m201987
$406m202099
$1.6bn2021108
$1.2bn2022122
$632m202398
$696m202491
$808m202570
$443m202622

Bars show US$ raised; the number under each year is equity rounds. 2026 is year to date. The peak year was 2021, with US$1.58bn across 108 rounds.

The funding ladder · five years

Rounds and typical cheque by stage

AngelUS$168.40m100 rounds · median US$185k
SeedUS$201.43m194 rounds · median US$515k
Series AUS$735.07m89 rounds · median US$5.30m
Series BUS$656.01m58 rounds · median US$11.67m
Series CUS$944.91m22 rounds · median US$36.62m
Series D+US$1.52bn25 rounds · median US$34.18m
Private equityUS$1.16bn23 rounds · median US$25.00m
Where the money went · five years

Most-funded sub-sectors

Biopharma outsourcingUS$982.10m45 rounds · 35 companies
Hospital chainsUS$908.75m64 rounds · 31 companies
Clinic chainsUS$789.02m89 rounds · 47 companies
Traditional pharmaceuticalsUS$639.51m26 rounds · 20 companies
Clinical laboratory chainsUS$347.46m16 rounds · 8 companies
Fitness & wellness techUS$315.53m6 rounds · 1 companies
Medical device outsourcingUS$215.23m5 rounds · 5 companies
Corporate activity · last 24 months

M&A in India

384Acquisition
30Merger
2Completed

Most active acquirers

  1. Torrent pharmaceuticals28
  2. Sun pharmaceutical industries10
  3. Metropolis healthcare10
  4. Biocon9
  5. Mankind pharma9

Most acquired or merged

  1. Sahyadri hospitals10
  2. Novartis india7
  3. Schott poonawalla7
  4. La Renon Healthcare6
  5. Medley4

Each deal appears in the events strip at the top of the page.

Founders and momentum in Indore

Meet the people behind healthcare companies in Indore. 58 of 154 companies list founders or leaders; where a public LinkedIn profile matches exactly, the expanded profile shows the photo, headline, location and education.

Explore Indore healthcare companies by sub-sector

The most common specialisations among healthcare companies in Indore. Open a company to see what it sells, who runs it and how far it has come.

Keep exploring healthcare in India and nearby markets.

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