From pharmaceuticals to power, Samir Mehta has helped expand Torrent into a diversified business group spanning healthcare, energy and natural gas.
For much of its history, the Torrent Group was known primarily for pharmaceuticals.
Today, the Ahmedabad-based business has two major pillars: healthcare and power.
At the centre of that expansion is Samir Mehta, who serves as chairman of the Torrent Group and executive chairman of Torrent Pharmaceuticals.
The M3M Hurun India Rich List 2026 places Samir Mehta and his family at No. 10, with an estimated wealth of ₹1.89 lakh crore. Their wealth increased 52% during the year, with Hurun linking the rise in part to the completion of Torrent Pharma’s merger with JB Chemicals & Pharmaceuticals.
The ranking marks the family’s first appearance in India’s top 10.
A business built around healthcare
The Torrent story began with U.N. Mehta, who founded the group in 1959 after working as a medical representative. He built the early pharmaceutical business around niche marketing, laying the foundation for what would eventually become Torrent Pharmaceuticals.
Samir Mehta later helped expand the company through acquisitions, new therapies, international markets, and investments in manufacturing and product development.
Torrent Pharma gradually developed a strong presence in chronic therapies, particularly cardiovascular and central nervous system treatments, while also expanding internationally.
That combination of branded medicines, manufacturing capabilities,s and overseas operations became the core of the group’s healthcare business.
The JB Chemicals deal changes the scale.
The most significant recent move has been Torrent Pharma’s acquisition of JB Chemicals & Pharmaceuticals.
In June 2025, Torrent agreed to acquire a controlling stake in JB Pharma from KKR at an equity valuation of ₹25,689 crore, followed by a merger of the two companies. The transaction was structured to combine Torrent’s chronic-care business with JB Pharma’s portfolio and international capabilities.
Torrent completed the acquisition of a 48.8% stake in JB Pharma in January 2026, and the merger subsequently became effective.
The impact was visible in Torrent Pharma’s FY26 numbers. Revenue rose 21% to ₹13,980 crore, while operating EBITDA increased 23% to ₹4,559 crore. Torrent said its combined business with JB Pharma was ranked fifth in India’s pharmaceutical market.
The acquisition also broadened Torrent’s portfolio beyond its traditional strengths and increased its presence in international markets.
Power became the group’s second engine.
Healthcare is only half of the Mehta family’s business story.
Torrent entered the power sector in 1996 and subsequently built Torrent Power into a significant electricity generation, transmission and distribution company.
The business now operates across generation, transmission, distribution and renewable energy. Torrent Power currently reports 6,494 MW of generation capacity and more than 4.31 million distribution customers across 12 cities.
For FY2025-26, Torrent Power reported consolidated revenue of approximately ₹29,289 crore and profit after tax of ₹2,416 crore.
Its portfolio is also changing as India moves towards greater renewable-energy capacity.
Renewable energy is becoming increasingly important
Torrent Power has been expanding its renewable portfolio through solar and wind projects while continuing to operate conventional generation assets.
In September 2026, Torrent Green Energy commissioned 322 MWp of decentralised solar projects in Maharashtra, adding to its renewable portfolio.
The company is also pursuing large-scale renewable and storage projects. Industry estimates reported in September 2026 put Torrent Power’s renewable capacity at around 2 GW, with plans to take it towards 10 GW by 2030.
At the same time, the company has expanded its conventional generation business.
In February 2026, Torrent Power agreed to acquire Nabha Power, a 1,400 MW coal-fired plant in Punjab, from Larsen & Toubro for approximately ₹6,889 crore,e including debt. The acquisition increased Torrent Power’s operational capacity from roughly 5 GW to about 6.4 GW.
The contrasting investments show the complexity of India’s power transition. Torrent is expanding renewable generation while also maintaining and adding conventional capacity to meet electricity demand.
A professional management approach
Samir Mehta’s role has extended across both major businesses.
Torrent’s board profile describes his focus on organisational design, execution and operational efficiency, while noting his involvement in the group’s expansion into power.
The group has also maintained a professional management structure around its operating companies.
At Torrent Pharmaceuticals, Aman Mehta serves as managing director alongside Samir Mehta as executive chairman, while the wider board includes independent directors and professional executives.
This gives the family a continuing role in strategy and ownership while allowing the individual businesses to operate with their own management teams.
What the top-10 entry represents
Samir Mehta’s ₹1.89 lakh crore family wealth puts the Torrent family at the bottom of India’s 2026 top 10, but the more revealing part of the ranking is how the fortune was built.
Unlike many of India’s largest business groups, Torrent has remained concentrated around two sectors that are essential to everyday life: medicines and electricity.
The healthcare business is now entering a larger phase following the JB Pharma merger, while Torrent Power is balancing conventional generation with a growing renewable-energy portfolio.
That gives the Mehta family two very different growth stories to manage.
One is about medicines, international markets and scale in pharmaceuticals.
The other is about India’s rapidly expanding demand for electricity and the transition towards cleaner sources of power.
For Samir Mehta, the next chapter of the Torrent story is therefore less about building another unrelated business and more about expanding two established platforms while keeping the group focused on healthcare and power.
That focus has now taken the Mehta family into India’s top 10 richest business families for the first time.
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Photo: Business Today
