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Home»IPO Analysis»Emcure Pharmaceuticals Limited | IPO Analysis
IPO Analysis

Emcure Pharmaceuticals Limited | IPO Analysis

Vicky NagarBy Vicky Nagar3 July 2024Updated:3 July 2024No Comments3 Mins Read
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About the Company:

Founded in 1981, Emcure Pharmaceuticals Limited has grown into a leading player in the Indian pharmaceutical industry. The company is engaged in the development, manufacturing, and international marketing of a wide range of pharmaceutical products. Over the years, Emcure has established a robust presence across various major therapeutic areas.

Market Position and Performance

As of MAT September 2023, Emcure Pharmaceuticals ranks 13th in domestic sales among Indian pharmaceutical companies. During this period, the company holds the fourth largest market share within its covered markets. Emcure is recognized as the top pharmaceutical company in the gynecology and HIV antiviral segments.

Manufacturing Capabilities

Emcure Pharmaceuticals operates 13 manufacturing facilities across India. These facilities are equipped to produce a diverse range of pharmaceutical and biopharmaceutical products, including tablets, liquids, injectables, and complex ingredients such as chiral molecules, iron molecules, and cytotoxic substances.

Distribution Network:

As of September 30, 2023, Emcure's marketing and distribution network in India is supported by over 5,000 field personnel who engage with healthcare providers regularly. The distribution network comprises over 5,000 stockists, serviced by 37 carry-and-forward agents.

Objectives of the IPO:

The primary objectives of the IPO include:

  1. Repayment and prepayment of outstanding borrowings
  2. General corporate purposes

Summary of Financial Information:

Period Ended 31-Mar-24 31-Mar-23 31-Mar-22
Assets 7,806.16 6,672.53 6,063.47
Revenue 6,715.24 6,031.72 5,918.86
Profit After Tax 527.58 561.85 702.56
Net Worth 2,952.28 2,501.13 1,987.55
Reserves and Surplus 2,722.40 2,293.77 1,791.03
Total Borrowing 2,091.94 2,202.42 2,102.19
Amount in Rs. Crore

Comparison with Listed Peers:

Company Name P/E (x) P/B ROE (%)
Emcure Pharmaceuticals Limited 37 6 21.27
Dr. Reddy's Laboratories Limited 17.93 3.54 19.74
Cipla Ltd. 30.1 4.64 15.43
Alkem Laboratories Ltd 33.86 5.9 17.41
Torrent Pharmaceuticals Ltd. 57.74 13.95 24.15
Mankind Pharma Limited 45.3 9.24 20.43
Abbott India Ltd. 47.43 15.4 32.48
J. B. Chemicals & Pharmaceuticals Limited 50.49 9.34 18.9
As on March 31, 2024

Key details of the IPO:

IPO Dates: 3 to 5 July 2024

Price Band: Rs. 960 to Rs. 1008 per share

Lot Size: 14 shares

Listing Date: 10 July, 2024

Total Issue Size: Rs. 1952.03 Cr. (Fresh Issue: Rs. 800 Cr.)

Retail Quota: 35%

GMP: Rs. 285 (Only for information purposes.)

Allotment Link

Note: For additional information & risk factors please refer to the Red Herring Prospectus

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Disclaimer: We are not SEBI registered. All the views are personal and only for educational purposes. Do your due diligence before making any trading or investing decisions. The data provided in this blog post is for illustrative purposes only and does not constitute financial advice. Always consult with a qualified financial advisor before making investment decisions.

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Vicky Nagar
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Vicky Nagar is an equity trader with 5+ years of experience in trading and investing. He has expertise in equity valuation, sectoral analysis, index analysis, and in identifying the market trends. He is a NISM Certified Research Analyst. Formerly a relationship manager at Kotak Mahindra Bank Limited in the Agri-Business Group, he also has teaching experience at KS School of Business Management, Gujarat University, and as an Academic Associate at IRMA (Institute of Rural Management Anand). He holds a BBA (Gold Medalist) and an MBA (Gold Medalist) in Marketing.

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