Mayank Singhal, VC and MD, PI Industries, on Tuesday, said that 15-20 percent growth is achievable for the company in the next few years. For attaining this target, the company is looking at growing organically via capacity expansion. Singhal explained that the company is also in the process of evaluating acquisition targets.

"Between 15-20 percent growth is achievable. We will still be investing organically, at the same time inorganic is something which we will be definitely looking at. We are in the process of evaluating. As soon as we find the right fit and the right deal, we would go for that," he said.

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On margin, he shared that the company will be able to sustain it at 20 percent. To be able to maintain its margin, the company is looking at passing on raw material price increase to its customers.

"The idea is not to dilute margins. We will continue to look at how we can continue to grow the business and expand the margins. The whole chemical industry is facing the challenge of increased cost, which is going up. We are looking to pass some of these increased costs," he said.

On pharma business, Singhal said that they are looking at developing intermediates. He shared that currently, the company is in the process of evaluating 4-5 pharma products. He further explained that while the company has core competence in chemistry capabilities, it is looking to invest in a pharma facility with no GMP requirements.

He said,"We are right now in the early stages of our pharma validation. We are looking to develop certain intermediates where we have chemistry capabilities. As a part of that, we have about four to five products which are under evaluation."

"So the idea here is that we will be developing the process capabilities, working with customers for validation and in the meantime, in the coming financial year, we'll be looking to invest into a facility and upgrading it to make sure it meets the pharma non-GMP requirements to service our customers," he mentioned.

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(Edited by : Dipikka Ghosh)