Company Overview: Emcure Pharmaceuticals Ltd., established in 1981, is one of India’s leading pharmaceutical companies, focusing on developing, manufacturing, and marketing a broad range of pharmaceutical products across multiple therapeutic areas. The company is prominent in the gynecology, blood-related, and HIV antivirals therapeutic areas in India.
IPO Details:
- Issue Period: July 03 – July 05, 2024
- Issue Price Band: ₹960 – ₹1008 per equity share
- Market Lot: 14 shares
- Total IPO Size: ₹1952.03 Crores
- Minimum Order Quantity: 14 shares
- IPO Issue Type: Book Building Issue IPO
- Face Value: ₹10 per equity share
- Listing At: BSE, NSE
Timeline of Emcure Pharmaceuticals Ltd IPO:
- Opening Date: July 03, 2024
- Closing Date: July 05, 2024
- Finalization of Basis of Allotment: July 08, 2024 (Tentative)
- Initiation of Refunds: July 09, 2024 (Tentative)
- Transfer of Shares to Demat Account: July 09, 2024 (Tentative)
- Listing Date: July 10, 2024 (Tentative)
Emcure Pharma IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not more than 15% of the Net Issue |
Financial Performance:
Consolidated Figures (in ₹ Crores):
| Metric | FY23 | FY21 | FY20 | FY19 |
|---|---|---|---|---|
| Direct Expenditure | 2662.45 | 2573.61 | 2331.29 | 2269.39 |
| Gross Profit | 3323.36 | 2459.86 | 2717.26 | 2447.79 |
| Operating Expenditure | 2102.41 | 1402.90 | 2034.49 | 1627.33 |
| Operating Profit | – | – | 682.77 | 820.46 |
| Other Income | 45.91 | 33.88 | 82.31 | 194.56 |
| Interest | 213.61 | 154.94 | 256.60 | 222.66 |
| Depreciation | 260.12 | 249.99 | 320.83 | 267.17 |
| Profit Before Tax | 747.22 | 652.03 | 105.34 | 330.63 |
| Tax | 185.37 | 233.44 | 4.73 | 121.44 |
| Profit After Tax | 561.85 | 418.59 | 100.61 | 209.19 |
| EPS (unadj) | 31.07 | 23.15 | 4.62 | 10.79 |
Standalone Figures (in ₹ Crores):
| Metric | FY23 | FY22 | FY21 | FY20 | FY19 |
|---|---|---|---|---|---|
| Direct Expenditure | 1502.96 | 1646.84 | 1617.36 | 946.18 | 978.34 |
| Gross Profit | 1604.13 | 1740.40 | 1490.05 | 1429.53 | 1475.36 |
| Operating Expenditure | 1046.44 | 813.05 | 659.66 | 912.65 | 849.04 |
| Operating Profit | 557.69 | 927.35 | 830.39 | 516.88 | 626.32 |
| Other Income | 125.35 | 132.68 | 96.52 | 137.62 | 90.88 |
| Interest | 166.83 | 145.14 | 118.28 | 137.22 | 126.65 |
| Depreciation | 178.52 | 165.79 | 154.21 | 154.97 | 129.84 |
| Profit Before Tax | 212.34 | 616.42 | 557.90 | 224.69 | 369.83 |
| Tax | 52.28 | 169.61 | 137.42 | 49.48 | 86.18 |
| Profit After Tax | 160.06 | 446.81 | 420.48 | 175.21 | 283.65 |
| EPS (unadj) | 8.85 | 24.71 | 23.25 | 9.69 | 15.68 |
Use of IPO Proceeds:
- Prepayment or Scheduled Repayment of all or a portion of certain outstanding borrowings availed by the company.
- General Corporate Purposes.
Company Background:
Emcure Pharmaceuticals Ltd. started as a private company in 1981 and was converted to a public company in 2001. The company has a strong presence in the pharmaceutical industry with 14 manufacturing facilities across India. They produce a range of pharmaceutical and biopharmaceutical products, including oral solids, liquids, injectables, biologics, vaccines, and complex APIs.
Strategic Developments:
- 1999: Amalgamation of Lasor Drugs Limited.
- 2001: Amalgamation of several subsidiaries, establishing a facility in Kurkumbh.
- 2009: Commencement of operations in solid orals at Jammu facility.
- 2012: Acquisition of BiCNUr, an oncology product.
- 2017: Establishment of a manufacturing facility in Bengaluru.
- 2018: License to operate a factory in Sanand, Gujarat.
- 2021: Launch of biosimilars Tenecteplase and Pegylated-asparaginase.
IPO Offer Details:
- Fresh Issue: ₹1100 Crores through equity shares.
- Offer for Sale: Up to 18,168,356 equity shares.
Contact Details:
- Address: Plot # P-1 & P-2 IT BT Park, Phase II MIDC Hinjawadi 411057
- Phone: +91 20 3507 0033
- Email: [email protected]
- Website: www.emcure.com
Registrar of IPO:
- Link Intime India Pvt Ltd
- Address: C-101 247 Park, L B S Marg
- Phone: 91-22-49186000
- Fax: 91-22-49186060
SWOT Analysis:
Strengths:
- Established market presence in key therapeutic areas.
- Diverse product portfolio, including biologics and complex APIs.
- Strong R&D capabilities and track record of product development.
Weaknesses:
- High dependence on specific therapeutic areas.
- Significant debt obligations affecting profitability.
Opportunities:
- Expansion in emerging markets.
- Growth in biosimilars and complex generics.
- Strategic acquisitions and partnerships.
Threats:
- Intense competition from domestic and international pharmaceutical companies.
- Regulatory challenges and changes in healthcare policies.
- Price erosion in key markets.
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Disclaimer
This article is for informational purposes only and does not constitute financial advice. Potential investors should consult with their financial advisors before making any investment decisions. All information has been sourced from reliable publications and the company’s IPO prospectus. However, we do not guarantee the accuracy or completeness of this information.
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