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How profitable is Adar Poonawalla s Serum Institute? At Rs 300, the expected earnings from, let s say, 500 million doses of Covishield stand at about Rs 15,000 crore, which is near three times the total revenue of Serum Institute in FY20 Adar Poonawalla poses with first consignment of Covishield (Photo credit: Twitter) Vaccine-maker Serum Institute of India has become a household name as Indians scramble to book vaccine slots amid a devastating second wave of coronavirus. While Serum is one of the world s biggest vaccine manufacturers, its name made it to common parlance with the breakout of COVID-19 and there is proof to show for it. According to corporate database Capitaline there are 418 Indian companies that posted revenues above Rs 5,000 crore in 2019-20. Out of those, Serum earned the maximum net profit for every rupee of revenue.

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