Aptus Pharma Limited has released a comprehensive investor presentation to investors and analysts in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The presentation, disseminated on February 7, 2026, provides an overview of the company's business operations and financial performance based on publicly available information.

Company Overview and Business Model

Established in 2011, Aptus Pharma has positioned itself as a pharmaceutical sales company contributing to healthcare through quality products and customer satisfaction. The company operates across multiple therapeutic segments with both domestic and international presence through a dedicated export division.

The company follows a structured business process encompassing demand estimation, contract manufacturer selection, purchase order issuance, manufacturing, quality checks, and warehousing with marketing and distribution.

Growth Trajectory and Key Milestones

Aptus Pharma's expansion demonstrates consistent growth since incorporation. The company began operations in 2011 with 11 products and has systematically expanded its portfolio and geographic presence.

During 2021-25, the company strengthened its market presence by appointing a Vice President for Domestic Sales & Marketing, launching three domestic divisions, and entering the OTC and wellness segment. The operational headquarters shift from Rajkot to Ahmedabad supported national expansion plans, complemented by a centralized hi-tech depot and robust sales and distribution network.

Leadership and Management Structure

The company's leadership team brings extensive pharmaceutical industry experience. Tejash Maheshchandra Hathi, Managing Director since January 17, 2024, holds an MBA in Marketing and Management Accounting and brings over two decades of pharmaceutical industry experience. Ghanshyam Vinubhai Pansuriya was appointed Chief Executive Officer effective January 1, 2025, contributing over 15 years of pharmaceutical industry expertise.

The management team includes Non-Executive Directors Chetan Shantilal Lalseta, a consultant dermatologist with over 20 years of experience, and Riddhish Natwarlal Tanna, a homeopathic practitioner with healthcare management qualifications. Nirav J. Pandya serves as Vice President overseeing Pan-India operations with 27 years of pharmaceutical industry experience.

Strategic Vision and Future Plans

Aptus Pharma has outlined Vision 2026-30 focusing on horizontal and vertical expansion to establish strong Pan-India presence. The strategic plan includes launching 450+ products and expanding operational footprint across the country. The company operates through a robust contract manufacturing ecosystem, working with multiple manufacturing partners based on long-standing relationships built on consistent performance and quality standards.

Regulatory Compliance and Market Presence

The investor presentation complies with Regulation 46 of SEBI (LODR) Regulations, 2015, and will be available on the company's website under the Investor Relations section. The company maintains its commitment to quality through comprehensive due diligence of contract manufacturers, evaluating certifications, regulatory compliance, production capacity, and delivery reliability before approval.

The Competition Commission of India (CCI) has taken a strong stance in defending its global turnover-based penalty framework, opposing Apple's legal challenge that could expose the tech giant to fines of up to $38 billion. The antitrust regulator told the court that the 2024 law serves as a crucial deterrent against breaches by multinational corporations.

CCI's Defense of Global Turnover Framework

In a December 15 court filing, the CCI provided its most detailed rationale for the controversial penalty structure. The regulator argued that the law "aligns Indian competition law enforcement with established international practice," emphasizing that India-specific turnover calculations fail to provide adequate deterrence for global digital firms.

The CCI's position centers on ensuring penalties maintain "real deterrent value in complex, digital and cross-border markets, rather than becoming nominal or easily absorbable for large multinational players." This approach mirrors practices adopted in the European Union and reflects growing global consensus on antitrust enforcement.

Apple's Challenge and Potential Financial Impact

Apple initiated its legal challenge in November, requesting judges strike down the 2024 legislation. The company's concerns extend beyond its own case, as the law could significantly impact other multinational firms including Pernod Ricard, Publicis, and Amazon currently under antitrust investigation.

The substantial fine potential stems from a CCI investigation that concluded Apple misused its dominant position on its app store. Apple has consistently denied these allegations while challenging the penalty calculation methodology.

Retrospective Application Dispute

A significant point of contention involves Apple's allegation that the CCI illegally applied the new law retrospectively in another case. The competition watchdog firmly rejected this claim, stating it has always possessed authority to impose fines up to 10% of a company's turnover.

"Clarificatory provisions operate retrospectively as they explain the true intent of the legislature," the CCI stated in its filing. The regulator maintains that recent legal changes merely clarified existing turnover definitions rather than expanding penalty powers.

Information Disclosure Controversy

The CCI has accused Apple of attempting to mislead the court regarding information requests. While acknowledging its authority to base penalties on global turnover, the regulator claims it only sought "India-specific financial details" from Apple.

Apple disputes this characterization, arguing that the turnover details requested under the new law could expose the company to significantly higher penalties. This disagreement highlights the complex interplay between information disclosure requirements and penalty calculations.

Broader Implications for Multinational Companies

The case represents a critical test of India's evolving antitrust enforcement approach. The outcome could establish important precedents for how global technology companies and other multinationals face regulatory scrutiny in one of the world's largest digital markets.

The Delhi High Court's decision, expected following the January 27 hearing, will determine whether India's penalty framework aligns with international standards or requires modification to address concerns about proportionality and retrospective application.