Tirupati Group
One-stop contract research and manufacturing services (crams) provider of pharmaceutical, nutraceutical, ayurveda, and sport nutrition solutions.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor | €0.0 | round | |
* | $123m | Growth Equity non VC | |
| Total Funding | 000k | ||
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Established in 2005, Tirupati Group is a contract development and manufacturing organization (CDMO) in India, providing end-to-end services from research to product launch. The company was founded by Ashok Goyal, who serves as the Director-CEO, along with Arun Goyal and Ajay Goel. Ashok Goyal, with a background in Mechanical and Production Engineering and 27 years of experience across various industries, conceptualized and established the healthcare division of the group. His focus on R&D has been a key factor in the company's ability to introduce new products to the market.
Tirupati Group operates as a strategic partner for businesses in the healthcare and food industries, functioning on a contract research and manufacturing services (CRAMS) model. The company serves over 350 multinational and Indian companies, including major players like Abbott, Pfizer, Dr. Reddy's Laboratories, Sun Pharma, and Dabur. The business is diversified across several key verticals: pharmaceuticals, nutraceuticals, Ayurveda, veterinary products, probiotics, and sports nutrition. Its manufacturing capabilities cover a wide array of dosage forms such as powders, tablets, capsules, liquids, and ointments. The company's revenue reached over 500 Crore by 2018 and has since grown to an annual turnover of approximately 1000 Crore.
The company's service offerings are comprehensive, guiding clients from the initial product concept and development stages through to stability profiling and commercialization. Tirupati houses a DSIR-approved R&D facility and an innovation center staffed by over 125 scientists and engineers, which underpins its product development capabilities. The manufacturing facilities are located in Paonta Sahib, Himachal Pradesh, and Noida, Uttar Pradesh, and adhere to international standards such as WHO-GMP, NSF, and ISO. Tirupati has received accolades for its performance, including being named the "Best Nutraceutical Contract Manufacturing Company" and “Best Sports Health Supplement Company” by ASSOCHAM in 2021.
Keywords: contract development manufacturing organization, CDMO, pharmaceutical manufacturing, nutraceutical manufacturing, ayurvedic products, sports nutrition, veterinary products, contract research, CRAMS, product development, formulation development, healthcare solutions, food industry partner, private equity, Ashok Goyal, Paonta Sahib, end-to-end solutions, R&D facility, quality management systems, global exports, B2B manufacturing