Sudeep Pharma (SUDEEPPH IN) – Visit Update – Foraying into battery-grade iron phosphate
Published on 02 Feb 2026
We visited Sudeep Pharma Ltd’s (SUDEEPPH IN) manufacturing facilities at Nandesari to understand its operating capabilities, expansion plans and medium-term growth drivers. The company is in the process of transitioning from a legacy mineral-based pharma and nutrition ingredients player to a technology-driven specialty materials company, led by its entry into battery-grade iron phosphate for LFP applications, alongside steady expansion in pharmaceutical, food and nutrition segments. The company operates 4 manufacturing facilities, which are vertically integrated, where most processes are single step in nature. Calcium carbonate/calcium hydroxide and phosphoric acid are key raw materials used across businesses. Over FY21–25, Sudeep Pharma has delivered sales/EBITDA/PAT CAGR of 13%/40%/41%. The company currently trades at 51x FY25 EPS. We don’t have a rating on the stock.
