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Serum Institute Of India
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SERUM INSTITUTE OF INDIA PRIVATE LIMITED

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Maharashtra ›

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Updated: 21 Oct 2025

Serum Institute of India Pvt. Ltd., a biotechnology company that develops and manufactures vaccines for diphtheria, tetanus, pertussis, Hib, BCG, r-hepatitis B, measles, mumps, and rubella disease.

Serum Institute Of India Private Limited, is an unlisted private company incorporated on 22 May, 1984. It is classified as a private limited company and is located in , Maharashtra. It's authorized share capital is INR 55.00 cr and the total paid-up capital is INR 4.82 cr.

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Industry and products

Education

Recombinant Products, Combination Vaccines, Influenza Vaccines, Pharma Products, Polysaccharide Conjugate Vaccines, Anti Sera, Uro-Oncology, Bacterial Vaccines, Imported Gonadotrophins Marketed in India, Indian Gonadotrophins, Viral Vaccines

Company size

Auth Capital

₹ 55.0 Cr

Paidup Capital

₹ 4.8 Cr

Revenue

₹ >5000 cr

Key Metrics

** All rupee values in INR crores. Based on March 2025 numbers.

Total Revenue

-2.0%

₹ 10,854.0

EBITDA

-6.07%

₹ 4,242.0

Net Profit

8.23%

₹ 4,630.0

Networth

11.06%

₹ 45,741.0

Borrowings

26.49%

₹ 382.0

Assets

9.01%

₹ 48,678.0

Gross Margin

-0.19

86.6 %

Operating Margin

-3.63

43.7 %

Net Profit Margin

4.04

42.7 %

Return on Equity

-0.27

10.1 %

ROCE

-2.74

20.2 %

Debt to Equity

0.0

Sales

Mar 2025

Net worth

Mar 2025

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Locations

India (13)

State	Type	Address

Locations on Map

People

Designation	Name	DIN/PAN	Tenure
Whole-time Director	Adar Cyrus Poonawalla Shareholder	00044815	18 years
Managing Director	Cyrus Soli Poonawalla Shareholder	00044650	18 years
Whole-time Director	Sunil Gairola	08893242	4 years
Whole-time Director	Umesh Sharadrao Shaligram	00212458	4 years
Whole-time Director	Satish Ramchandra Mundra	00416654	16 years
Whole-time Director	Natasha Adar Poonawalla	01264082	9 years
Whole-time Director	Prasad Suryakant Kulkarni	08991838	4 years
Director	Behroze Zavareh Poonawalla	00044877	40 years
Director	Zavareh Soli Poonawalla Shareholder	00044760	41 years
Whole-time Director	Kedar Shashikant Gokhale	08788551	4 years
Whole-Time Director	Parag Rajendra Deshmukh	03377341	1 years

Financial Highlights

** All numbers in INR crores

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Sales	7,201.0	25,645.0	10,190.0	9,549.0	9,715.0
Operating profit	4,247.0	17,445.0	5,630.0	4,516.0	4,242.0
Net profit	3,891.0	11,116.0	4,187.0	4,278.0	4,630.0
Gross margin	94.4	84.9	88.4	86.8	86.6
Operating margin	59.0	68.0	55.2	47.3	43.7
Net margin	46.7	41.6	39.0	38.6	42.7
Networth	21,839.0	32,933.0	36,902.0	41,187.0	45,741.0
Borrowings	196.0	191.0	57.0	302.0	382.0
Assets	26,446.0	37,133.0	40,049.0	44,654.0	48,678.0
Debt to equity	0.0	0.0	0.0	0.0	0.0
Current ratio	1.9	2.0	3.7	4.0	4.2
ROE	17.8	33.8	11.3	10.4	10.1
Days payable	354.0	56.0	167.0	235.0	209.0
WC days	188.0	51.0	233.0	314.0	278.0

Margins

Gross margin

Operating margin

Net margin

Balance Sheet

₹

** All numbers in INR crores

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	4.8	4.8	4.8	4.8	4.8
Reserves	21,834.2	32,928.2	36,897.2	41,182.2	45,736.2
Borrowings +	196.0	191.0	57.0	302.0	382.0
Long term borrowings	-	-	-	-	-
Short term borrowings	196.0	191.0	57.0	302.0	382.0
Trade payables +	391.0	591.0	540.0	812.0	746.0
Days payable	354.0	56.0	167.0	235.0	209.0
Other liabilities +	4,411.0	4,009.0	3,090.0	3,165.0	2,555.0
Other non-current liabilities	456.0	535.0	714.0	691.0	662.0
Other current liabilities	3,564.0	2,883.0	1,836.0	1,662.0	1,147.0
Total liabilities	26,446.0	37,133.0	40,049.0	44,654.0	48,678.0
Fixed Assets +	4,730.0	4,754.0	6,114.0	9,029.0	10,472.0
Tangible assets	1,991.0	2,279.0	2,174.0	1,967.0	2,309.0
CWIP	2,539.0	2,348.0	3,853.0	6,869.0	7,339.0
Intangible assets	200.0	127.0	87.0	193.0	824.0
LT loans and advances	226.0	68.0	331.0	211.0	34.0
Other non-current assets	13,627.0	25,054.0	24,679.0	24,421.0	28,502.0
Current assets +	7,863.0	7,257.0	8,925.0	10,993.0	9,670.0
Inventories	2,855.0	2,618.0	3,735.0	4,505.0	5,309.0
Trade receivables	2,205.0	2,725.0	3,079.0	2,124.0	1,570.0
Cash and cash equivalents	1,757.0	953.0	733.0	1,072.0	1,740.0
ST loans and advances	58.0	-	328.0	178.0	183.0
Other current assets	988.0	961.0	1,050.0	3,114.0	868.0
Total assets	26,446.0	37,133.0	40,049.0	44,654.0	48,678.0

Percentage of assets	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	0.02	0.01	0.01	0.01	0.01
Reserves	82.56	88.68	92.13	92.23	93.96
Borrowings +	0.74	0.51	0.14	0.68	0.78
Long term borrowings	0.0	0.0	0.0	0.0	0.0
Short term borrowings	0.74	0.51	0.14	0.68	0.78
Trade payables	1.48	1.59	1.35	1.82	1.53
Other liabilities +	16.68	10.8	7.72	7.09	5.25
Other non-current liabilities	1.72	1.44	1.78	1.55	1.36
Other current liabilities	13.48	7.76	4.58	3.72	2.36
Total liabilities
Fixed Assets +	17.89	12.8	15.27	20.22	21.51
Tangible assets	7.53	6.14	5.43	4.4	4.74
CWIP	9.6	6.32	9.62	15.38	15.08
Intangible assets	0.76	0.34	0.22	0.43	1.69
LT loans and advances	0.85	0.18	0.83	0.47	0.07
Other non-current assets	51.53	67.47	61.62	54.69	58.55
Current assets +	29.73	19.54	22.29	24.62	19.87
Inventories	10.8	7.05	9.33	10.09	10.91
Trade receivables	8.34	7.34	7.69	4.76	3.23
Cash and cash equivalents	6.64	2.57	1.83	2.4	3.57
ST loans and advances	0.22	0.0	0.82	0.4	0.38
Other current assets	3.74	2.59	2.62	6.97	1.78
Total assets

Total assets

Profit & Loss

₹

** All numbers in INR crores

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Sales +	7,201.0	25,645.0	10,190.0	9,549.0	9,715.0
Sales growth %	32.23	256.13	-60.27	-6.29	1.74
Expenses +	3,427.0	9,779.0	5,404.0	5,658.0	6,190.0
Cost of goods	403.0	3,878.0	1,181.0	1,261.0	1,302.0
Employee cost	1,350.0	1,917.0	1,368.0	1,458.0	1,504.0
Other costs	1,201.0	2,405.0	2,011.0	2,314.0	2,667.0
Operating profit +	4,247.0	17,445.0	5,630.0	4,516.0	4,242.0
Operating margin %	59.0	68.0	55.2	47.3	43.7
Other income	1,134.0	1,073.0	543.0	1,527.0	1,139.0
Interest	43.0	70.0	64.0	65.0	84.0
Depreciation	430.0	1,509.0	780.0	560.0	633.0
Exceptional items	-	-	-	-	-
Profit before tax	4,908.0	16,939.0	5,329.0	5,418.0	4,664.0
Tax	1,017.0	5,823.0	1,142.0	1,140.0	34.0
Profit - disc. ops	-	-	-	-	-
Net profit	3,891.0	11,116.0	4,187.0	4,278.0	4,630.0
Net margin %	46.7	41.6	39.0	38.6	42.7

Precentage of total income	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Sales	86.39	95.98	94.94	86.21	89.51
Expenses +	41.12	36.6	50.35	51.08	57.03
Cost of goods	4.84	14.51	11.0	11.38	12.0
Employee cost	16.2	7.17	12.75	13.16	13.86
Other costs	14.41	9.0	18.74	20.89	24.57
Operating profit	50.95	65.29	52.46	40.77	39.08
Other income	13.61	4.02	5.06	13.79	10.49
Interest	0.52	0.26	0.6	0.59	0.77
Depreciation	5.16	5.65	7.27	5.06	5.83
Exceptional items	0.0	0.0	0.0	0.0	0.0
Profit before tax	58.88	63.4	49.65	48.92	42.97
Tax	12.2	21.79	10.64	10.29	0.31
Profit - disc. ops	0.0	0.0	0.0	0.0	0.0
Net profit	46.68	41.6	39.01	38.62	42.66

Revenue from operations

Ratios

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Solvency +
Total Debt/Equity	0.0	0.0	0.0	0.0	0.0
Net Debt/Equity	0.0	0.0	0.0	0.0	0.0
Total Debt/Assets	0.0	0.0	0.0	0.0	0.0
Total Assets/Equity	1.2	1.1	1.1	1.1	1.1
Liquidity +
Current Ratio	1.9	2.0	3.7	4.0	4.2
Quick Ratio	1.2	1.3	2.1	2.3	1.9
Interest Coverage	98.8	249.2	88.0	69.5	50.5
Performance
Gross Margin	94.4	84.9	88.4	86.8	86.6
Operating Margin	59.0	68.0	55.2	47.3	43.7
Net Margin	46.7	41.6	39.0	38.6	42.7
Return +
Return on Equity	17.8	33.8	11.3	10.4	10.1
Pre-tax ROCE	45.2	190.9	38.5	22.9	20.2
Return on Assets	14.7	29.9	10.4	9.6	9.5
Pre-tax ROIC	17.5	48.4	13.1	9.6	7.9
Efficiency +
Days Payable	354.0	56.0	167.0	235.0	209.0
Days Inventory	2,586.0	246.0	1,154.0	1,304.0	1,488.0
Days Receivable	112.0	39.0	110.0	81.0	59.0
Fixed Asset Turnover	1.5	5.4	1.7	1.1	0.9
Total Asset Turnover	0.3	0.7	0.2	0.2	0.2
Working Capital
Cash Conversion Cycle	2,344.0	229.0	1,097.0	1,150.0	1,338.0
Working Capital Days	188.0	51.0	233.0	314.0	278.0

Ratios

Current ratio

Debt/equity ratio

Charges on assets

As per information available, the company has no registered charges.

Company Network

Companies connected through Directors

Name	Status	Paid up Capital	Common Directors	Address
SOVEREIGN PHARMA PRIVATE LIMITED	Active	98.0 Cr	2	Maharashtra
ADRUS ESTATES AND PROPERTIES PVT LTD	Converted to LLP and Dissolved	1.0 L	1	Maharashtra
VILLOO POONAWALLA RACING & BREEDING PRIVATE LIMITED	Active	44.0 Cr	3	Maharashtra
GENESIS PARKS LLP	Active	5.0 Cr	2	Maharashtra
ADAR ESTATES LLP	Active	5.0 Cr	2	Maharashtra
POONAWALLA INVESTMENTS AND INDUSTRIES PRIVATE LIMITED	Active	98.6 L	2	Maharashtra
POONAWALLA ESTATES STUD AND AGRI FARM PRIVAE LIMITED	Active	41.4 Cr	2	Maharashtra
SERUM INTERNATIONAL LIMITED	Amalgamated	4.1 Cr	3	Maharashtra
SOVEREIGN PHARMA PRIVATE LIMITED	Active	98.0 Cr	2	Maharashtra
POONAWALLA AVIATION PRIVATE LIMITED	Active	2,105.2 Cr	1	Maharashtra
THE POONA STUD FARM PRIVATE LIMITED	Active	1.6 Cr	2	Maharashtra
POONAWALLA ASTONISH STUD PRIVATE LIMITED	Active	5.6 Cr	2	Maharashtra
ASTONISH STUD PRIVATE LIMITED	Amalgamated	24.3 L	2	Maharashtra
SHELLAC TRADING PRIVATE LIMITED	Strike Off	1,000.0	1	Maharashtra
ANNILNA INVESTMENT PVT LTD	Active	28.0 L	2	Maharashtra
SIMONE POONAWALLA CONSTRUCTIONS AND STUD PRIVATE LIMITED	Active	20.3 L	1	Maharashtra
INTERVALVE POONAWALLA LIMITED	Active	8.8 Cr	1	Maharashtra
YODELSIM HOLDINGS PVT. LTD.	Active	88.5 L	2	Maharashtra
SASWAD INVESTMENT PVT LTD	Amalgamated	99.8 L	1	Maharashtra
POONAWALLA FINVEST AND AGRO PRIVATE LIMITED	Active	87.0 L	2	Maharashtra
CARTIER INVESTMENT PRIVATE LIMITED	Active	3.5 Cr	1	Maharashtra
DELNA PROPERTIES PRIVATE LIMITED	Converted to LLP and Dissolved	1.0 L	2	Maharashtra
POONAWALLA RACING AND BREEDING PRIVATE LIMITED	Active	10.0 L	2	Maharashtra
POONAWALLA HOTELS PRIVATE LIMITED	Converted to LLP and Dissolved	1.0 L	1	Maharashtra
YOHAN POONAWALLA FINANCIALS PRIVATE LIMI TED	Amalgamated	1.1 Cr	2	Maharashtra
POONAWALLA EXHILARATION STUD PRIVATE LIMITED	Active	5.0 L	2	Maharashtra
POONAWALLA MYSTICAL STUD PRIVATE LIMITED	Active	5.0 L	2	Maharashtra
POONAWALLA CONSTRUCTIONS PRIVATE LIMITED	Converted to LLP and Dissolved	18.4 Cr	1	Maharashtra
EXHILARATION STUD PRIVATE LIMITED	Converted to LLP and Dissolved	1.0 L	2	Maharashtra
POONAWALLA REAL ESTATES AND HOTELS LLP	Active	18.6 Cr	1	Maharashtra
SIMONE POONAWALLA PROJECTS LLP	Active	10.0 L	2	Maharashtra
DELNA POONAWALLA PROJECTS LLP	Active	10.0 L	2	Maharashtra
DELNA PROPERTIES LLP	Active	1.0 L	2	Maharashtra
CYZA AGRO AND STUD FARMS LLP	Active	24.9 L	1	Maharashtra
POONAWALLA CONSTRUCTIONS LLP	Active	18.4 Cr	2	Maharashtra
CARTIER PROPERTIES LLP	Active	3.5 Cr	1	Maharashtra
POONAWALLA HOLDINGS LLP	Active	1.4 Cr	2	Maharashtra
SHELLAC PROPERTIES LLP	Active	95.5 L	1	Maharashtra
YOHAN POONAWALLA PROJECTS LLP	Active	10.0 L	2	Maharashtra
POONAWALLA STUD FARM PRIVATE LIMITED	Active	5.4 L	1	Maharashtra
CYZA AGRO AND STUD FARMS PRIVATE LIMITED	Converted to LLP and Dissolved	24.9 L	2	Maharashtra
INTERVALVE POONAWALLA PRIVATE LIMITED	Active	1.5 Cr	1	Maharashtra
EL-O-MATIC (INDIA) PRIVATE LIMITED	Active	96.8 L	1	Maharashtra
POONAWALLA FINANCIALS PRIVATE LIMITED	Active	20.9 Cr	2	Maharashtra
SANOTI PROPERTIES LLP	Active	10.0 Cr	1	Maharashtra
POONAWALLA CREDIT PRIVATE LIMITED	Active	254.9 Cr	1	Maharashtra
COVIDSHIELD TECHNOLOGIES PRIVATE LIMITED	Active	7.5 Cr	1	Maharashtra
AMRON REALTORS PRIVATE LIMITED	Active	107.5 Cr	1	Maharashtra
RISING SUN HOLDINGS PVT LTD	Active	8,379.0 Cr	1
POONAWALLA FINANCE PRIVATE LIMITED	Active	1,359.4 Cr	1	Maharashtra
POONAWALLA FINCORP LIMITED	Active	162.5 Cr	1	Maharashtra
SERUM INSTITUTE LIFE SCIENCES PRIVATE LIMITED	Active	636.6 Cr	5	Maharashtra
POONAWALLA SPORTS AND FITNESS PRIVATE LIMITED	Active	1.0 L	1	Maharashtra
SRI THAKUR BIOTECH LLP	Active	50,000.0	1	Maharashtra
PHINITY DEVELOPERS PRIVATE LIMITED	Active	1,061.0 Cr	1	Maharashtra
KEDAR GOKHALE ADVISORY LLP	Active	5,000.0	1	Maharashtra
GAIROLA BIOTECH ADVISORY LLP	Active	1.0 L	1	Maharashtra
PAURAS ADVISORY LLP	Active	50,000.0	1	Maharashtra

Subsidiary Companies

Name	State / Country	Incorporation Year	Paidup Capital
SERUM INTERNATIONAL B.V.	Netherlands	-	-
Bilthoven Biologicals B.V.	Netherlands	-	-
SERUM INSTITUTE INC	United States	-	-
Serum Life Science Europe Gmbh	Germany	-	-
SEZ BIOTECH SERVICES PRIVATE LIMITED		2006	₹ 1,300.4 Cr
POONAWALLA AVIATION PRIVATE LIMITED	Maharashtra	2005	₹ 2,105.2 Cr
Serum Life Sciences B.V	Netherlands	-	-
Serum AMR Products B.V.	Netherlands	-	-
SERUM INSTITUTE LIFE SCIENCES PRIVATE LIMITED	Maharashtra	2020	₹ 636.6 Cr
Serum Life Sciences Ltd	United Kingdom	-	-
COVIDSHIELD TECHNOLOGIES PRIVATE LIMITED	Maharashtra	2019	₹ 7.5 Cr
SERUM INSTITUTE VACCINES PRIVATE LIMITED	Maharashtra	2021	₹ 113.3 Cr
SERUM LIFECARE FOUNDATION	Maharashtra	2023	₹ 0.0
Serum Global FZCO	United Arab Emirates	-	-
Serum Middle East Holdings FZCO	United Arab Emirates	-	-
Diamond Worldwide Finance Ltd	Virgin Islands, British	-	-

Tofler Score

Very Good

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Fair

Good

Very Good

Excellent

Risk

Severe Risk

No risks identified

Moderate Risk

PAYABLES DETERIORATING
CASH DETERIORATING
REVENUE BELOW AVERAGE

Low Risk

HIGH INVENTORY
ROCE DETERIORATING

About Tofler Score

Tofler Score measures the quality of performance and integrity of a company. It is dependent on three key factors - Sustainability, Governance, and Growth.

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Registered Details

CIN

U80903PN1984PTC032945

PAN

AABCS4225M

Incorporation

1984, 41.4 years

Company Email

serum.institute@gmail.com

Paid up Capital

₹ 4.8 Cr

Authorised Capital

₹ 55.0 Cr

AGM

Aug 2025

Type

Private

Others

FAQ - SERUM INSTITUTE OF INDIA PRIVATE LIMITED

What is the incorporation date of SERUM INSTITUTE OF INDIA PRIVATE LIMITED?

The incorporation date of SERUM INSTITUTE OF INDIA PRIVATE LIMITED is 22 May, 1984

What is the authorized share capital of SERUM INSTITUTE OF INDIA PRIVATE LIMITED?

The authorized share capital of SERUM INSTITUTE OF INDIA PRIVATE LIMITED is INR ₹ 55.0 Cr.

What is the paid-up capital of SERUM INSTITUTE OF INDIA PRIVATE LIMITED?

The paid-up capital of SERUM INSTITUTE OF INDIA PRIVATE LIMITED is INR ₹ 4.8 Cr.

What is the registered address of SERUM INSTITUTE OF INDIA PRIVATE LIMITED?

The registered address of SERUM INSTITUTE OF INDIA PRIVATE LIMITED is 212/2 OFF SOLI POONAWALLA ROAD, HADAPSAR, Pune, PUNE, Maharashtra, India, 411028 - 411028

What is the CIN number of SERUM INSTITUTE OF INDIA PRIVATE LIMITED?

The CIN number of SERUM INSTITUTE OF INDIA PRIVATE LIMITED is U80903PN1984PTC032945.

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