Bilcare Ltd

What Bilcare Ltd does

Bilcare Ltd (legal entity: Caprihans India Limited, publicly listed on BSE India under ticker CAPRIHANS, code 509486) is a Pune, India-headquartered specialty pharmaceutical packaging manufacturer serving global drug companies across 100+ countries. Founded in 1946 and operating for over 70 years, the company designs and manufactures specialty polymer films (PVC, PVdC, PVDC, Aclar, APET) and aluminum foils used in pharmaceutical blister packaging for solid oral dosage forms such as tablets and capsules. Its product portfolio spans four families: thermoforming blister films (Duplex, Triplex, Ultra, Ultra Tx, Armour, Aclar, Excel, Exxtra, Optra, BAPP, Zymax family), coldforming blister foils (Venus family, Tropical Foil, DESALU), lidding blister foils (Zeon family, Zenith, Suppo Zenith), child-resistant lidding foils (Crispak family), and laminates (Lamiflex PAL/RAL). The company also markets proprietary NonClonableID, a nanotechnology-based anti-counterfeiting authentication technology for pharmaceutical brand protection, and operates sub-brands Bilcare Research (R&D services) and Bilcare GCS (Global Clinical Supplies).

Bilcare manufactures out of two Indian plants in Pune and Nashik with 50,000 tonnes annual capacity, ISO Class 8 clean rooms, and USFDA DMF (#14957) and Health Canada DMF (2008-062) registrations. The company holds 200+ patents for distinctive packaging solutions, ISO 9001:2015, ISO 14001:2015, and ISO 15378:2017 certifications, and complies with EU Pharmacopoeia, USP 661.1, FDA 21 CFR, and REACH. It serves pharmaceutical manufacturers directly through enterprise field sales, supported by European sales/marketing offices in Frankfurt, Germany and Basel, Switzerland, and active participation at CPhI Worldwide, Pharmapack Europe, Arab Pharma EXPO, and US Pack Expo. Named customers include Bayer Healthcare and Fresenius Kabi. Reported FY 2025-26 revenue was Rs 733.54 crore (~$88M USD), down 6.92% YoY, with a small net profit of Rs 1.72 crore versus a prior-year loss. Key sub-brands include Bilcare Research (R&D services) and Bilcare GCS (clinical trial packaging).

Name

Bilcare Ltd

Legal name

Caprihans India Limited

Website

https://bilcare.com

Company type

Public

Founded year

1946

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Bilcare Ltd is a Pune, India-based specialty manufacturer of polymer films and aluminum foils for pharmaceutical blister packaging, serving global drug companies across 100+ countries with barrier films, cold-form foils, and child-resistant packaging.

Ownership category

akta.pro rank

Product category

Pharmaceutical Packaging

NAICS

Plastics Packaging Film and Sheet (including Laminated) Manufacturing (326112)

SIC

Unsupported Plastics Film & Sheet (3081)

akta.pro primary industry

Primary Pharmaceutical Packaging (Blister Packs, Bottles, Vials, Ampoules) (IMALAIAA)

akta.pro secondary industries

Pharmaceutical & Medical Plastic Packaging Manufacturing (IMANAEAK), Blister & Unit-Dose Packaging (CR/TE Blisters, Strip Packs) (IMALANAD), Anti-Counterfeit & Track-and-Trace Packaging (Serialization, Security Features) (IMALAIAJ)

Keywords

• Pharmaceutical packaging materials
• Blister packaging films
• Coldform aluminum foils
• Anti-counterfeiting solutions
• Specialty polymer films

Headquarters

HQ city

Pune

HQ country

India

HQ region

Asia

Offices6 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Technology or R&D, Personnel, Infrastructure, Marketing or Sales

Revenue model

1. Pharmaceutical Packaging Materials: Sale of specialty polymer films (PVC, PVdC, PVDC, Aclar, APET) and aluminum foils for pharmaceutical blister packaging. Products include Duplex, Triplex, Ultra, Armour, Aclar, Zymax product lines for thermoforming blister films; Venus, Tropical Foil for cold-forming foils; Zeon, Zeon+, Zenith for lidding foils; Crispak for child-resistant foils; and Lamiflex for laminates.
2. Research & Development Services: Pharmaceutical packaging research services including formulation stability studies, blister/foil design & development, pharma brand innovation, analytical research & market study, and packaging trials & audit.
3. NonClonableID Authentication Technology: Anti-counterfeiting technology solutions using proprietary nanotechnology-based authentication system for pharmaceutical brand protection.

Pricing tiers

Go-to-market motion2 records

Distribution channels1 record

Marketing channels5 records

Core offering

Bilcare manufactures and sells specialty polymer films (PVC, PVdC, PVDC, Aclar, APET) and aluminum foils used in pharmaceutical blister packaging for solid oral dosage forms. Its portfolio spans thermoforming films, cold-form foils, lidding foils, child-resistant foils, and laminate films, sold globally to pharmaceutical manufacturers across 100+ countries. The company also provides pharmaceutical packaging research services and licenses its proprietary NonClonableID anti-counterfeiting authentication technology.

Product overview

Bilcare Ltd operates as a comprehensive pharmaceutical packaging solutions provider, offering an integrated portfolio of specialty polymer films and aluminum foils for solid dosage pharmaceutical products. The product portfolio spans four main categories: (1) Thermoforming Blister Films including Duplex, Triplex, Ultra, Ultra Tx, Armour, Aclar, Excel, Exxtra, Optra, BAPP, Zymax, Zymax Tx, and Zymax PDP; (2) Coldforming Blister Foils including Venus, Venus PR, Venus SBC, Tropical Foil, Nutra Venus, Vento Venus, and DESALU; (3) Lidding Blister Foils including Zeon, Zeon+, Zenith, Zeon+ PR, Suppo Zenith, Zeon PR, Zeon D, and Zeon X; and (4) Child-Resistant Foils including Crispak AP-PT, Crispak PL, Crispak PP, and Crispak PT; plus Laminates including Lamiflex PAL and Lamiflex RAL. The company also provides research services including formulation stability studies, blister/foil design and development, pharma brand innovation, analytical research and market study, and packaging trials and audit. Bilcare addresses pharmaceutical packaging challenges through its '5Cs' approach: Compliance, Counterfeiting, Communication, Convenience, and Child-Resistant packaging.

Differentiator

Problem solved

Functional benefit

Brands

• Bilcare Research: Pharmaceutical packaging research and clinical supplies services division.
• Bilcare GCS
• nonClonableID

Products and services

• Duplex PVdC coated pharmaceutical grade PVC film providing barrier against moisture and oxygen for mid-sensitive formulations such as Amlodipine, Diclofenac, and Metformin.
• Triplex Three-layer composite film (PVC/PE/PVdC) providing higher barrier towards moisture, gases and aroma with improved formability for sensitive formulations such as Norfloxacin and Lactic Acids.
• Ultra Metallised PVC coated with PVdC providing higher barrier against moisture and oxygen with metallic aesthetic, suitable for sensitive generic and OTC drugs.
• Ultra Tx Three-layer composite with metallised rigid PVC base coated with PVdC providing high barrier towards moisture, gases, and aroma with improved formability and aesthetics.
• Armour PVDC/PVC/PE/PVDC composite with customized enhanced barrier PVdC coating providing highest barrier against moisture and oxygen for high-sensitive formulations such as Losartan and Multivitamins.
• Aclar PVC-based Aclar laminated film with higher barrier properties against moisture for high-sensitive formulations including Losartan, Multivitamins, and Neutraceuticals.
• Excel PVC-based laminated product with excellent thermoforming properties and improved gas and vapor barrier for suppository packaging and unit dose packs.
• Exxtra Pharmaceutical grade plain PVC film with excellent thermoforming properties for stable formulations such as paracetamol, Cefadroxil, and Ibuprofen.
• Optra Halogen-free Amorphous Polyethylene Terephthalate (APET) thermoformable eco-friendly film for low to medium sensitive drug formulations.
• BAPP APET/PVC/PVDC composite film providing highest barrier against moisture; thermoformable with high abrasion resistance for deep draw cavities.
• Zymax Super high barrier multilayer film with excellent thermoforming properties and increased gas barrier, manufactured exclusively for pharmaceutical blister packaging.
• Zymax Tx Ultra high barrier multilayer film (PVC/PE/Super high barrier PVDC) with excellent thermoforming properties and increased gas barrier.
• Zymax PDP Ultra high barrier multilayer film (PVC/Super high barrier PVDC/PVC) with excellent thermoforming properties and increased gas barrier.
• Venus Multi-layered cold-form foil (OPA/Foil/PVC) providing complete protection against water vapour, light, gases and aroma for hygroscopic and high-sensitive pharmaceutical products such as Pantoprazole and Omeprazole.
• Venus PR Multi-layered cold-form foil (OPA/Primer/Foil/PVC) with primered coating for enhanced interlayer integrity for hygroscopic and high-sensitive products.
• Venus SBC Multi-layered cold-form foil (PVC/OPA/Foil/PVC) with enhanced blister rigidity for dent-free blisters; deep draw forming for higher dimensional solid oral dosages.
• Tropical Foil Laminate (OPA/Foil/HSL) enhancing barrier of conventional thermoform blister with no direct product contact but increased shelf life for high-sensitive and beta-lactam products.
• Nutra Venus High barrier multilayer cold-formable film (OPA/Foil/Barrier PVC) minimizing ingress of water vapour versus regular Venus for moisture-sensitive products.
• Vento Venus Multilayered cold-formable aluminum-based blister structure (OPA/Foil/Polyolefin) minimizing gas bulging effect for moisture-sensitive push-through blisters.
• DESALU Multi-layered cold-formable blister film (OPA/Foil/Desiccant PE) with moisture absorbent for extra barrier protection to highly sensitive molecules.
• Zeon Non-toxic bright-side heat seal lacquer coated hard aluminum lid foil with dull side lacquered for printing; for blister lidding with PVC sealing layer.
• Zeon+ Non-toxic bright-side heat seal lacquer coated hard aluminum lid foil compatible with PVC/PVdC sealing layers, available in plain and printed form.
• Zenith Non-toxic low-density polyethylene laminated soft aluminum strip foil with good printability for high-sensitive formulations such as Pantoprazole and Omeprazole.
• Zeon+ PR Universal lacquer coated aluminum lid foil (Primer/Hard Foil/Acrylic Lacquer) with special coating for better printability, compatible with PVC/PVdC sealing.
• Suppo Zenith Aluminum-based laminated product with excellent forming properties for suppository packaging; PE laminated foil that is peelable and weldable.
• Zeon PR Non-toxic heat seal lacquer coated aluminum lid foil (Primer/Hard Foil/HSL) with special coating for better printability, compatible with PVC sealing.
• Zeon D Push-through lidding foil with modified sealing extruded polyolefin layers containing desiccant PE for moisture absorption for high moisture-sensitive dry products.
• Zeon X Co-extruded push-through lidding foil (Foil/PE) with dull side print primer and bright side extruded PE; sealable with DESALU product.
• Crispak AP-PT Laminated push-through child-resistant (CR) foil laminated with PVC; child-resistant and senior-friendly packaging compliant with BS EN 14375.
• Crispak PL Peelable heat seal lacquer coated child-resistant lid foil with colored paper combinations; higher peel strength for pharmaceutical applications.
• Crispak PP Peel and push type child-resistant lid foil compatible with PVC/PVdC; specially developed non-toxic heat seal lacquer coated aluminum foil.
• Crispak PT Laminated push-through child-resistant and senior-friendly (CR) foil laminated with paper; provides excellent push-through effect.
• Lamiflex PAL PET-based laminate film (PET/Foil/PE) for pharmaceutical packaging suitable for effervescent granules, bulk drugs, antacid liquid, and sildenafil citrate gel.
• Lamiflex RAL Paper-based laminate (Paper/Foil/PE) for pharmaceutical packaging applications, available with printing and/or pouching options.
• Pharmaceutical Packaging Research Services Research services including formulation stability studies, blister/foil design and development, pharma brand innovation, analytical research and market study, and packaging trials and audit.
• NonClonableID Authentication Technology Proprietary nanotechnology-based anti-counterfeiting authentication technology providing unique, non-clonable identification for pharmaceutical products enabling real-time consumer authentication.

Quantifiable outcome

• 50,000 tonnes annual manufacturing capacity
• +2 more outcomes

Named customers9 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature8 records

Partnerships

One partnership is on record.

• MeadWestVaco Corp.majorStrategic or Co-development Partner · 21 July 2008Bilcare Research partnered with US-based MeadWestVaco Corp. to jointly acquire International Labs Inc. The partnership enables creation of innovative, highly efficient consumer-oriented supply chains and expansion of integrated drug packaging for the global healthcare market.

Scale indicators9 records

Recent moves10 records

Expansion highlights6 records

Market position

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/Bilcare_ltd
• Facebookfacebook.com/Bilcare.Ltd
• LinkedInlinkedin.com/company/bilcarelimited

Compliance8 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Bilcare Ltd