About Company
Mumbai-based Sudarshan Pharma Industries Limited was incorporated in 2008. SPIL has a contract manufacturing facility to source and supply generic formulations. The core business of Sudarshan Pharma Industries is to produce specialty chemicals and ingredients for pharma, agrochemicals, coating, paints, adhesives, and several other industries.
It is also engaged in import & export activities and supply of specialty chemicals, API (Active Pharmaceutical Ingredients), and Intermediates. Based on clients’ specifications and requirements, they outsource the manufacturing facility from suppliers in India and abroad.
SPIL supplies 50-plus pharma formulations under its brand name, including tablets, ointments, and injectables. SPIL is involved in contract manufacturing, outsourcing, and supplying generic pharma formulations and medicines to healthcare institutions, governments, NGOs, and hospitals.
The company has its own sales force and distribution network in 5 states for ethical marketing of pharmaceutical formulations & products under the brand name in Indian and international markets. It also offers formulation development and QC services and provides customized solutions.
The competitive strengths of the company are:
- Customer-centric and order-driven business model
- Wide range of product offerings
- Contract manufacturing facility arrangements
- Strong distribution, marketing, and sales network
- Diversified business operations
| Minimum Investment ₹116,800 / 1 Lots ( 1600 Shares ) | Maximum Investment ₹116,800 / 1 Lots ( 1600 Shares ) |
| Price Range ₹71 – ₹73 | Issue Size ₹50.10 Cr |
| Investor category and sub category Qualified Institutional Buyers | Non-Institutional Investors | Retail Individual Investors | Retail Discount To be announced |
IPO Dates
Important dates with respect to IPO allotment and listing
| IPO Open Date Mar 9, 2023 | IPO Close Date Mar 14, 2023 |
| IPO Allotment Date Mar 17, 2023 | Initiation of Refunds Mar 20, 2023 |
| Credit Of Shares To Demat Account Mar 21, 2023 | IPO Listing Date Mar 22, 2023 |
IPO Subscription Status Live
| Investor Category | Subscription (Times) |
|---|---|
| Qualified Institutions Buyer | 0.01 |
| Non-Institutional Buyers | 0.60 |
| Retail Investors | 0.95 |
| Employees | [.] |
| Others | [.] |
| Total | 0.76 |
IPO Subscription Details
| Date | QIB | NII | Retail | Total |
|---|---|---|---|---|
| Day 1 Mar 9, 2023 | 0.00 | 0.37 | 0.47 | 0.40 |
| Day 2 Mar 10, 2023 | 0.00 | 0.38 | 0.67 | 0.52 |
| Day 3 Mar 13, 2023 | 0.00 | 0.38 | 0.71 | 0.55 |
| Day 4 Mar 14, 2023 | 0.01 | 0.60 | 0.95 | 0.76 |
SPIL IPO Objective
The Company intends to utilize the Net Fresh Issue Proceeds for the following Objects:
- Working Capital Requirements
- General Corporate Purposes.
Why should you invest in SPIL IPO?
Here are your top three reasons to consider investing in the IPO:
- They offer a diverse product portfolio, including specialty chemicals, bulk drugs, API, and pharmaceutical formulations.
- Their major international clients come from Taiwan, Oman, Uzbekistan, Bangladesh, UK, and others.
- The company is expanding with a state-of-the-art manufacturing facility and expansion of distributor networks and logistic facilities in the five Indian states it covers.
SPIL Noteworthy highlights
- Their portfolio includes 2000 plus products in specialty chemicals, Intermediates for pharma, agrochemicals, paints, adhesives, and other industrial chemicals.
- The company is exploring new markets with new products in Africa, South-East Asia, and the MENA region.
Company Financials
| Parameters | Period Ending on September 30, 2022 (₹ Lakhs) | Year ending on 31st March, 2022 (₹ Lakhs) | Year ending on 31st March, 2021 (₹ Lakhs) |
|---|---|---|---|
| Revenue from operation | 19,589.87 | 35,709.46 | 19,335.03 |
| Profit After Tax | 360.70 | 530.37 | 267.12 |
| EBITDA | NA | 1,143.57 | 754.24 |
| EBITDA Margin | NA | NA | NA |
| EPS (Basic) | NA | 3.43 | 1.75 |
| Period Ended | Year ending on As on 31st March, 2022 | Year ending on As on 31st March, 2021 | Year ending on As on 31st March, 2020 |
| Current Asset | 12,958.00 | 8,764.35 | 4,688.21 |
| Current Liabilities | 10,104.01 | 7,122.17 | 3,433.90 |
Know before investing
Strengths
- Experienced promoters with 25 years plus experience in the market.
- They have developed the skills and expertise in innovation in producing specialty chemicals, pharma formulations, medicines, etc.
- They have ultra-modern facilities for all types of manufacturing activities.
Risks
- SPIL made a failed attempt to launch an IPO in 2019. It is its second attempt to gain investors’ favor.
- The enthusiasm surrounding pharma stocks is fizzing out. In such a case, it could be a risk-risk but low-return offer.
- Legal proceedings are pending against the company’s promoters and subsidiaries.
Click Here To Apply Sudarshan Pharma Industries IPO
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