Covid-19 Creates 7 New Indian Billionaires In Healthcare, Pharma Sector: Complete List
By Rohit Kulkarni Last updated Jan 8, 2021
In the terms of loss of life and sheer destruction, 2020 has been an unprecedented year. Though the virus has being one of the most equalizing phenomenon, threatening rich or poor just as same, but there was still a dichotomy. While doctors and healthcare workers were at the frontline battling the Covid-19 outbreak, the promoters in the pharmaceutical and healthcare space were being rewarded by investors and markets.
Emergence of New Billionaires:-
According to a Business Standard report, in the calendar year 2020, the sector saw the emergence of seven new billionaire promoters in India alone. This number of new billionaires is 50% more than all new billionaire promoters created last year.
Owing to fluctuations in market capitalization of their companies, five of the billionaires have exited whereas the billion-dollar saw the entry of 13 super-rich billionaires.
The country now has 17 billionaire promoters in the healthcare and pharma space, up from 10 last year who cumulatively held Rs 4.35 lakh crore or $60 billion at the end of December 2020.
There has been a surge of 61% in the combined wealth of these 17 billionaires, which is 1.65 lakh crore or $23 billion, against Nifty's rise of 15% in CY20, as compared to the previous year.
Stock prices of drug and pharma companies in the pandemic year has increased in the pandemic year and it can be owed to that.
Movers & Shakers From The Sector :-
By 2020-end, Premchand Golcha of IPCA Labs has ascended to the super exclusive super-rich was swiftest with a massive 94% YoY growth in his net worth which now stood at Rs 12,805 cr.
The report added that for the first time, he emerged as a dollar billionaire, with an improvement his rank from 83 to 58th richest promoter in the listed space.
Prathap C Reddy of Apollo Hospitals, is another movers and shakers from the sector, with a net worth of Rs 10,340 crore. Mannalal Agrawal of Ajanta Pharma worth Rs 8,500 crore. The wealth of VC Nannapaneni of Natco Pharma climbed up 62% to Rs 8,570 crore.
From the bull run in the healthcare and pharma stocks, companied like Atul, Deepak Nitrite, and Alkyl Amines have benefited.
Atul's promoter Sunil S Lalbhai's wealth, increased by 59% YoY to reach Rs 8,550 crore at December 2020-end. Among all the listed companies in India, Lalbhai is now 78th richest promoter.
Biggest gainer in the pack has been Murali Divi of Divi's Lab's. As the shares of his company were among the best performers in the large-cap space last year, his wealth doubled to Rs 53,000 crore by December 2020-end. Last year, he was India's 28th richest promoter, and now is 16th.
Shivraj Patel of Cadila Pharma with a net worth of Rs 37,500 crore and PVR Reddy and KN Reddy of Aurobindo Pharma with a net worth of Rs 28,000 crore were other big gainers.
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Rohit is a tech and business enthusiast, who is hell bent on scooping out the truth. He loves reading, understanding businesses and decoding startups.
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