Latest news with #AmanMehta
India.com
4 days ago
- Entertainment
- India.com
Heeramandi Actress Sharmin Segal, Husband Aman Mehta Blessed With Baby Boy: Report
New Delhi: Heeramandi fame actress and niece of Sanjay Leela Bhansali, Sharmin Segal, has welcomed a baby boy with her husband, Aman Mehta. As per journalist Vickey Lalwani's Instagram post, Sharmin Segal and Aman Mehta welcomed a baby boy on Wednesday. Sharmin lives with her husband Aman Mehta, who is the Executive Director at Torrent Pharmaceuticals in Ahmedabad. They tied the knot in an intimate ceremony in Italy in November 2023. The report states that Sanjay, along with her parents Bela and Deepak, are thrilled. 'That Sharmin Segal, Sanjay Leela Bhansali's niece and Deepak-Bela Segal's daughter, was expecting her first baby was brought to you here FIRST. The news now is that Sharmin has delivered a baby boy. Sharmin became a mother on May 28. Sharmin made her Bollywood splash, playing Alamzeb, in Sanjay Leela Bhansali's acclaimed web show Heeramandi, which hit online on May 1 last year and airs on Netflix. Sharmin married Aman Mehta, the Executive Director of Torrent Pharmaceuticals, in 2023. She is settled in Ahmedabad after marriage but has been in Mumbai for the past few months. Goes without saying that Sanjay, Bela, and Deepak are thrilled. Ditto for Sharmin and Aman.' — the post read. The actress is known for her work in Malal and Heeramandi as Alamzeb. She received mixed responses for her performance in the Netflix web series. Since then, she has taken a step back from the industry.
Mint
4 days ago
- Business
- Mint
Indian pharma's young blood takes over as drug dynasties crack the succession code
Some of India's largest pharmaceutical firms, including Sun Pharmaceutical Industries Ltd and Torrent Pharmaceuticals Ltd, are priming the next generation of their promoter families to take over the reins. On 20 May, Torrent Pharma announced the appointment of Aman Mehta (33), son of chairman Samir Mehta and a third-generation member of the Torrent Group's founder family, as managing director effective 1 August. The company said in a press statement that the appointment was part of 'our long-term strategic vision and succession planning". The same week, Sun Pharma announced the appointment of Vidhi Shanghvi, daughter of founder and managing director Dilip Shanghvi, as a whole time director. A few months ago, Sun Pharma elevated Aalok Shanghvi (40), Dilip Shanghvi's son, as chief operating officer. Other pharma companies like Lupin Ltd too have seen the next generation of their promoter families take charge in recent years. With the Indian pharmaceutical industry growing at a significant rate, the top companies in the sector are being closely watched for the evolution they are undertaking. Experts believe such successions must be planned with foresight, factoring in ideal transition times, grooming, and the role of other veteran executives in shaping up the incoming leaders. 'If one has to think about a template, I think a good template is one where there is a fair bit of overlap between the senior generation and the next generation. And the next generation gets a good chance to actually experience different parts of the business," said Amit Misra, managing director with consultancy firm Alvarez and Marsal's healthcare and life sciences practice in Mumbai. Aman Mehta, the newly appointed managing director of Torrent Pharma, is a whole-time director at Torrent Pharma. He was appointed as a director in 2022 and has been primarily involved with Torrent Pharma's India business, the company's largest revenue contributor. According to Torrent's press statement, Mehta played an instrumental role in the integration of the Unichem Laboratories Ltd acquisition and the strategic identification and integration of Curatio Healthcare Pvt. Ltd. Torrent's acquisition of Unichem's branded India and Nepal business in 2017 significantly boosted its presence in key segments. Torrent acquired 100% of Curatio in 2022. Similarly, Aalok Shanghvi, who was brought into the Sun Pharma fold in 2006, has handled various roles in marketing, research and development, project management, purchase, and communications, according to information on the company's website. Over the past two decades, Shanghvi has headed Sun's business in Bangladesh and later emerging markets, spanning 80 countries. Subsequently, he also took charge of Sun's global generic R&D, global generic business development, and API (active pharmaceutical ingredients) functions. Vidhi Shanghvi began her career at Sun Pharma in 2012 as a brand manager within the India business, and took over as business head of Sun Pharma's consumer healthcare business in 2015, following its merger with Ranbaxy Laboratories Ltd. 'Promoters need to not parachute their progeny into the boards, but groom them from the shop floor, be it in an accelerated manner, and then expose them to internal and external stakeholders," said Shriram Subramanian, founder and managing director of InGovern Research Services. The role of incumbent senior executives and how they evolve must also be planned, he said. 'At least the senior level executives' succession planning should be a process and discussed at the board level," Subramanian said, adding that uncertainties around leadership must be factored in and planned for. An ideal transition would involve a transition of erstwhile leadership as well, said Misra of Alvarez and Marsal. 'In the sense that when you are bringing in the next generation side by side, you also start to help them choose their team, while some of the stalwarts remain in advisory positions," he explained. Also read | Mint Explainer: What sparks family feuds in Indian corporations? Corporate successions: A tricky path India's corporate landscape is riddled with high-profile family disputes even in instances where the promoter families had drawn up legal frameworks to ensure a smooth transition. Factions of the Kirloskar family are feuding over a 2009 deed of family settlement that outlined the distribution of ownership, management, and control of various Kirloskar entities—including Kirloskar Brothers Ltd and Kirloskar Oil Engines Ltd—among different branches of the family. Babasaheb Kalyani, the billionaire promoter of the Kalyani group, and his sister Sugandha Hiremath have been in a dispute for longer than a decade over the family's group companies such as Bharat Forge Ltd and Kalyani Steels Ltd, as well as private assets like land, real estate, and jewellery. The Lodha brothers—real estate developers Abhishek and Abhinandan—only last month resolved their dispute over the 'Lodha' brand identity after a longdrawn mediation and with the guidance of their parents. Messy legal disputes aside, corporate successions tend to be mired in other seemingly mundane challenges that need to be factored in. For instance, corporate successors following in the footsteps of senior family members who built successful businesses would want to develop their own styles and strategies while continuing the company's growth and legacy. 'The challenge for the next generation is to retain the differentiating factor or the competitive edge as far as the company is concerned," Misra said. 'If a successor tries to just cut copy-paste, it won't work because that did not work even in the case of the previous generation," he added. Also read | Why do business families delay the inevitable: Succession planning? For companies facing a vacuum when it comes to finding successors from within the family, the focus needs to be on bringing in professional talent who align with the firm's culture and vision, while also fostering loyalty and longevity in this leadership. Take the case of Cipla. After heir apparent Kamil Hamied, nephew of Cipla doyen Dr. Y.K. Hamied, stepped down as chief strategy officer in 2015 to pursue personal interests, the company brought in Umang Vohra, former head of Dr. Reddy's Laboratories Ltd's North America business, as its global chief financial officer. In 2016, Cipla appointed him global CEO and managing director. What is important for the continuity of a successful business is empowering the successors—be it family members or a professional team—and ensuring they understand the company's needs, experts said. 'The point remains that even in cases where the vacuum is not there, empowering some of these people so that their leadership styles start getting noticed and they get the opportunity to be known, is extremely important," Misra emphasised.
Time of India
20-05-2025
- Business
- Time of India
Samir Mehta's son Aman named MD of Torrent Pharma
MUMBAI: Torrent Pharma has named Aman Mehta , the older son of chairman Samir Mehta , as MD, solidifying the succession plan at the flagship of the $5.3 billion Torrent Group . His new role will begin on August 1. This appears to be the company's first MD position. Aman, 33, who represents the third generation of the family, joined the company's board as a director in 2022. His younger brother Shaan Mehta, 27, currently leads strategy at the company. The Torrent Group, founded by Aman and Shaan's grandfather in 1959, now has diverse interests spanning from pharmaceuticals to power. Their cousin, Jinal Mehta, currently serves as the vice chairman and MD of Torrent Power. ' As part of our long-term strategic vision and succession planning, the board has approved the appointment of Aman Mehta as MD, effective August 1, 2025,' said Torrent Pharma, adding that 'This appointment is aligned with our commitment to building a strong, future-ready leadership team capable of delivering sustainable value to all stakeholders.' An economics graduate from Boston University with an MBA from Columbia University, Aman joined the Torrent Group in October 2013. His career spans leadership positions across the group's pharma and power businesses. A notable accomplishment includes overseeing the integration of Unichem's domestic operations into Torrent Pharma. The company acquired Unichem's 120 brands and manufacturing facility for Rs 3,600 crore in December 2017. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
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Business Standard
20-05-2025
- Business
- Business Standard
Torrent Pharma Q4 PAT up 11% on strong India biz; Aman Mehta named MD
Torrent Pharma posts Rs 498 crore PAT in Q4FY25; Aman Mehta to become MD from August 1 as part of long-term strategic succession planning by the board Sohini Das Mumbai Ahmedabad-based Torrent Pharmaceuticals posted an 11 per cent rise in consolidated profit after tax (PAT) for the fourth quarter of FY25 to Rs 498 crore, riding on a strong India business, while revenues grew by 8 per cent year-on-year to Rs 2,959 crore. The company stated that, adjusted for exceptional items, PAT growth for Q4FY25 was 15 per cent. The exceptional items relate to the closure of Drug Price Control Order (DPCO) pending litigation from previous years. Aman Mehta, currently whole-time director, has been appointed managing director of the company effective 1 August. The board approved the appointment as part of its 'long-term strategic vision and succession planning'. Aman holds a degree in Economics from Boston University and an MBA from Columbia University, New York. During his tenure with the Group, he has held leadership roles across both the Power and Pharma verticals. In his role as executive director in Pharma, he was primarily involved in the India business — Torrent's largest revenue contributor. He played an instrumental role in the integration of the Unichem acquisition and the strategic identification and integration of Curatio Healthcare. The company distributed an interim dividend of Rs 26 per equity share of face value Rs 5 during the year. Additionally, the board (subject to shareholder approval) has recommended a final dividend of Rs 6 per share. For the full year, Torrent Pharma's revenues grew by 7 per cent to Rs 11,516 crore, while PAT rose by 15 per cent to Rs 1,911 crore. India revenues, which constituted around 52 per cent of consolidated revenues, rose by 12 per cent in Q4 to Rs 1,545 crore, outperforming the market growth of 8 per cent. The chronic business grew by 14 per cent versus the domestic market growth of 9 per cent. For FY25, India revenues stood at Rs 6,393 crore, up 13 per cent. Brazil revenues were down 6 per cent, affected by depreciation of the Brazilian Real, while Germany revenues rose by 2 per cent during the quarter. Succession planning at Torrent Succession planning at the Torrent Group — which has interests in both power and pharmaceuticals — began a few years ago. In mid-2022, Aman Mehta was appointed director on the board of Torrent Pharma. In 2014, Sudhir Mehta stepped down as chairman of Torrent Pharma, and his brother Samir Mehta took over. Both of Sudhir's sons — Jinal and Varun — have been associated with the Group's power business for several years. Four years later, Samir became chairman of Torrent Power, and Jinal Mehta was appointed managing director of Torrent Power. Sudhir and Samir began working actively in their father U N Mehta's pharmaceutical business in the early 1980s. U N Mehta, a former medical representative with Sandoz, had started Torrent Pharma in the 1970s with his life savings. He strategically chose a psychotropic drug and targeted a niche of psychiatrists to avoid competition from multinational corporations. Under his sons, Torrent Pharma went on to make key acquisitions such as Unichem and Elder. Elevating Aman to the position of MD, Torrent Pharma stated on Tuesday that since his appointment as whole-time director, he has continued to make a 'significant impact' on the India business's growth and transformation journey. 'Notable contributions of his leadership include market share expansion through organic growth and strategic in-licensing, turnaround in the cardiac and diabetes portfolios with significant improvement in performance and ranking, and the launch of the consumer health division,' the company said. It added that under Aman's leadership, R&D has been more sharply aligned with business strategy, with a focus on differentiated product development and faster execution of critical projects. His inputs have helped drive operational excellence initiatives across manufacturing and supply chain functions, leading to improved productivity, cost efficiency, margins and service levels.
United News of India
20-05-2025
- Business
- United News of India
Torrent Pharma Q4 revenue pc, net profit rises 11 pc
Ahmedabad, 20 May (UNI) Torrent Pharmaceuticals Limited on Tuesday announced its financial results for the fourth quarter and full year ended 31 March 2025, reporting steady growth across key metrics. For Q4 FY25, the company posted revenue of Rs 2,959 crore, marking an 8 percent year-on-year increase. Gross margin remained stable at 75.3 percent. Operating EBITDA rose 9 percent to Rs. 964 crore, while net profit after tax climbed 11 percent to Rs. 498 crore. Adjusted for exceptional items and inventory revaluation, operating EBITDA stood at Rs. 981 crore, an 11 percent rise. For the full fiscal year, Torrent reported revenues of Rs 11,516 crore, up 7 percent from the previous year. Operating EBITDA grew 10 percent to Rs. 3,721 crore, with net profit reaching Rs 1,911 crore, reflecting a 15 percent increase after adjustments for exceptional items. The company's India business continued its robust performance with Q4 revenues of Rs 1,545 crore, growing 12 percent and outperforming the Indian Pharmaceutical Market (IPM) growth of 8 percent. Torrent's chronic therapy segment expanded 14 percent compared to 9 percent IPM growth. The company holds 21 brands in the Top 500 IPM brands, including 14 brands with sales exceeding Rs 100 crore. In Brazil, revenues declined 6 percent to Rs. 351 crore, primarily due to the depreciation of the Brazilian Real. However, constant currency revenues increased by 5 percent. Torrent's Brazil operations grew 13 percent compared to a 7 percent market growth. Germany revenues rose 2 percent to Rs. 286 crore, supported by new tender wins and cost efficiency initiatives. The US market recorded a 15 percent revenue growth in Q4 to Rs. 302 crore, with constant currency growth at 10 percent. Torrent has declared an interim dividend of Rs. 26 per equity share (face value Rs. 5). The Board has recommended a final dividend of Rs. 6 per share, subject to shareholders' approval. In a strategic leadership move, Torrent's Board approved the appointment of Aman Mehta as Managing Director, effective 1 August 2025, as part of its long-term succession planning. Torrent Pharmaceuticals, the flagship entity of the Torrent Group, ranks seventh in the Indian pharmaceutical market and holds leadership positions in cardiovascular, gastrointestinal, central nervous system, and cosmo-dermatology segments. The company operates in over 50 countries, runs eight manufacturing facilities including five USFDA-approved plants, and maintains a strong focus on R&D with over 750 scientists. UNI BDN GNK
