Torrent’s Bold Move: Diversification into Healthcare, Renewables, and Green Hydrogen
Key Ideas
  • Torrent Group, led by the third generation, plans to double profits and grow revenues to ₹1 lakh crore within five years.
  • Torrent is diversifying into hospitals, diagnostics, renewables, green hydrogen, and energy storage to expand its business portfolio.
  • Torrent Pharmaceuticals' acquisition of JB Pharma for ₹18,000 crore is part of the group's aggressive growth strategy.
  • Torrent Power aims to invest significantly in renewables, green hydrogen, and pumped hydro storage projects over the next few years.
The Torrent Group, a prominent Indian business conglomerate based in Ahmedabad, is undergoing a significant transformation led by the third generation of the Mehta family. The recent acquisition of JB Pharma for ₹18,000 crore by Torrent Pharmaceuticals is a strategic move in line with the group's ambitious growth plans. With a vision to double profits and increase revenues to ₹1 lakh crore in the next five years, the group is venturing into new sectors including healthcare, renewables, green hydrogen, and energy storage. Led by young leaders, Torrent Group aims to diversify its business interests by expanding into hospitals, diagnostic centers, and electrical FMCG products. Torrent Power, a key subsidiary, plans to invest heavily in solar, wind, green hydrogen, and pumped hydro storage projects over the coming years. The group is also focused on growing its renewable energy capacity significantly and exploring opportunities in green hydrogen production. Torrent Pharmaceuticals has shown strong performance in the pharma sector with notable revenue and profit growth. In the power sector, Torrent Power has emerged as a leading private distributor with ambitious plans for renewable energy expansion. Torrent Gas, another group entity, has experienced rapid growth in the city gas distribution sector and aims to further enhance its presence. With a strategic focus on sustainability and innovation, Torrent Group's foray into new sectors such as healthcare, renewables, and green hydrogen signifies a bold shift towards a more diversified and environmentally conscious business portfolio.
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