§1What this business is
Two lines under one roof. The wrapper line laminates aluminium foil with PVC or PVDC film, prints it by rotogravure, cures, slits and rewinds it into rolls for blister, strip and sachet packs. The capsule line dips pins in gelatin or HPMC solution, dries the shells in humidity-controlled tunnels, trims and joins cap and body. Buyers are pharma formulation units, contract manufacturers, nutraceutical, ayurvedic and veterinary drug makers. Clean rooms and GMP are compulsory.
Capacity: Medicine wrappers 1,200 MT a year; capsule shells 600 million a year.
§2Is it right for you?
Who it is for
A pharma or packaging professional with capital, who knows GMP and has buyers among drug makers.
Who it is not for
A first-time founder — one contaminated batch can lose every customer.
Advantages
- Every tablet and capsule needs primary packing — steady demand
- Pharma clusters such as Haridwar and Baddi want nearby suppliers
- Vegetarian HPMC capsules are in demand in export markets
- Two product lines spread the risk
Drawbacks
- ₹2.18 Cr project — well above PMEGP and MUDRA limits
- Clean rooms, GMP and drug-regulator approvals take time and money
- Large established capsule makers dominate
- The profile's own cost and revenue tables conflict
Skills you need
- GMP and documentation
- Clean-room and humidity control
- Lamination and rotogravure printing
- Selling to pharma purchase and QA teams
Why difficulty 5/5: Large capital, clean-room GMP, drug-regulator approvals and demanding pharma buyers.
§3Market
Who buys
- Pharmaceutical formulation units
- Contract manufacturing organisations
- Nutraceutical companies
- Ayurvedic, herbal and veterinary medicine makers
- Hospitals and government supply chains
How it sells
- Direct supply contracts after vendor approval
- Pharma clusters such as Haridwar and Baddi
Good to know
- The profile lists vegetarian HPMC capsules and high-barrier blister foils as supply gaps in India.
- Annual revenue in the profile is ₹51 Cr at full capacity.
§4Raw material & machinery
| Item | Qty | Cost |
|---|---|---|
| Blister foil lamination machine | 1 | — |
| Rotogravure printing machine | 1 | — |
| Slitting and rewinding machine | 1 | — |
| Capsule shell dipping machine | 2 | — |
| Drying tunnels | 2 | — |
| Trimming and joining machine | 2 | — |
| Air handling unit (clean-room control) | 1 | — |
| Quality testing equipment (thickness, strength, microbial) | 1 set | — |
| Plant & machinery in total | — | ₹85,00,000 |
- Pharma-grade aluminium foil, 20–25 micron1,300 MT a year at ₹220/kg in the profile
- PVC / PVDC film (250 micron pharma grade PVC)900 MT a year at ₹180/kg
- Pharma-grade gelatin (bovine or fish)1,200 MT a year at ₹350/kg
- HPMC (vegetarian)300 MT a year at ₹800/kg
- Printing inks, solvents, approved colourants and purified waterinks and solvents ₹2.50 Cr, colourants and additives ₹1.20 Cr a year (lump sums)
In our raw material database
§5Licences & registration
- Udyam registration
- GST registration
- State Drug Controller / State FDA approvals
- GMP compliance; ISO 9001 and ISO 15378 for primary packaging materials
- State Pollution Control Board consent to establish and operate
- FSSAI licence if you supply nutraceutical packaging
- Factory licence
§6Schemes & subsidies
At ₹2.18 Cr the project is above the PMEGP and MUDRA limits; CGTMSE can cover a collateral-free loan within its ceiling. Check the state's industrial policy for capital subsidy.
§7Money
How the investment is worked out: Fixed capital ₹1.48 Cr (land development/lease ₹8 L, building ₹22 L, plant & machinery ₹85 L, electrical & utilities ₹10 L, laboratory ₹12 L, furniture ₹5 L, pre-operative ₹6 L) + working capital margin ₹70 L = ₹2.18 Cr.
Working capital: Working capital ₹70 L: raw material ₹25 L, WIP and finished goods ₹15 L, receivables ₹20 L, cash ₹10 L. Finance: promoter ₹65 L, term loan ₹1.25 Cr, working capital loan ₹28 L.
Year not printed on the profile — check current machinery and material prices. The profile's annual raw-material table (₹114.50 Cr) is larger than its revenue (₹51 Cr), so its figures do not add up — get a fresh DPR before you borrow.
§8Export potential
Confirm the HS code in the DGFT ITC(HS) lookup before you export
Export council / board: Pharmexcil
- HPMC capsules may fall under a different heading — confirm the 8-digit ITC(HS) line with DGFT or your customs broker.
- You need an Import Export Code (IEC) from DGFT before the first shipment.
§9Risks — where people fail
- Batch rejection or recall for microbial or size faults
- Aluminium, gelatin and HPMC price swings
- Long approval cycles before a pharma buyer places orders
- Heavy working capital in receivables
§1030 / 60 / 90-day plan
A general plan that applies to any business. A plan for this business will be added after research.
- Days 1–30: Visit a working capsule shells and medicine blister foil unit, ask 10 buyers about price and quantity, and get quotations from 3 suppliers.
- Days 31–60: Udyam and the licences you need (Udyam registration, GST registration), a project report (DPR), and the scheme or loan file.
- Days 61–90: Space and machines, trial production, and first deliveries to 10 customers.
§11Who to connect with
Associations, clusters and training institutes — the directory is being built. Connect
§12Watch
There is no episode on this business yet. Shows are coming soon on the Podcast page.
Want to start Capsule Shells and Medicine Blister Foil?
DPR, loan file or registration — ask us on WhatsApp.
¶Sources
Data review: 6 October 2026. Spotted a mistake? Report it. For information only — not legal or financial advice.