Emcure Pharmaceuticals IPO Details, Financials, Valuation & Peers
Get everything you need to know about the Emcure Pharmaceuticals IPO. Explore Emcure Pharmaceuticals IPO details, including IPO dates, financial statements, valuation, peer comparison, and more.
Overview
Emcure Pharmaceuticals Limited is a leading Indian pharmaceutical company specializing in the development, manufacturing, and global marketing of a diverse range of pharmaceutical products. With a strong emphasis on research and development (R&D), the company offers a differentiated product portfolio that includes orals, injectables, and biotherapeutics. Emcure has established a significant presence in over 70 countries, with a particularly robust market share in India, Europe, and Canada.
Key Points:
- Market Position: Emcure Pharmaceuticals Limited holds impressive rankings within the Indian pharmaceutical landscape. They were the 13th largest pharmaceutical company in India based on domestic sales for the MAT (Moving Annual Total) September 2023. Additionally, they are the 4th largest pharmaceutical company by market share in their covered markets and the largest in gynecology and HIV antivirals therapeutic areas.
- Domestic Growth: The company has experienced rapid sales growth in India, outperforming the Indian pharmaceutical market (IPM). Their domestic sales grew at a CAGR (Compound Annual Growth Rate) of 10.80% between MAT September 2019 and MAT September 2023, surpassing the IPM's growth rate by 1.3 times.
- International Presence: Emcure sells its differentiated product portfolio in over 70 countries. They have established international presence through both front-end distribution capabilities and strategic alliances with local and multinational companies. Export sales have shown impressive growth, outperforming the overall Indian pharmaceutical exports between the Financial Years 2019 and 2023.
- R&D Focus: The company's core strength lies in its R&D capabilities. With a team of 552 qualified scientists and five dedicated R&D facilities in India, Emcure focuses on developing specialty pharmaceutical products for high-growth therapeutic areas with limited competition and high barriers to entry. They have a strong track record in developing portfolios of differentiated products across various platforms.
- Manufacturing Facilities: Emcure operates 13 manufacturing facilities across India capable of producing a wide range of pharmaceutical and biopharmaceutical products. These facilities enable the company to achieve a significant degree of vertical integration, ensuring cost-effective sourcing, quality assurance, and security of essential raw materials.
Objects of the Issue
- Repayment and/or prepayment of all or a portion of certain outstanding borrowings availed by the Company
- General corporate purposes
IPO Details
Discover essential information crucial for understanding an IPO, including the Price Band, Fresh Issue, Offer For Sale, Total IPO Size and more. Explore these key details to gain insight into the company's public offering.
| Fields | Details |
|---|---|
| IPO Dates | 03 Jul - 05 Jul 2024 |
| IPO Price Band | ₹ 960 - 1,008 per share |
| Fresh Issue | ₹ 800 crore |
| Offer For Sale | Up to 11,428,839 shares (₹ 1,152.03 crore) |
| Total IPO Size | Approx ₹ 1,952.03 crore |
| Face Value | ₹ 10 |
| Listing On | BSE, NSE |
IPO Timeline
Explore important dates like IPO opening, closing, listing and others, outlining the journey of the Public Offering. This will help you grasp the entire IPO journey effortlessly.
| Event | Date |
|---|---|
| IPO Opening Date | 03 Jul 2024 |
| IPO Closing Date | 05 Jul 2024 |
| Basis Of Allotment | 08 Jul 2024 |
| Refunds | 09 Jul 2024 |
| Demat Transfer | 09 Jul 2024 |
| IPO Listing Date | 10 Jul 2024 |
Financial Statements
Explore a comprehensive financial data table showcasing key metrics including revenue, expenses, net income, and others. Gain valuable insights about the company's financial performance at a glance, facilitating informed decision-making and strategic planning for subscribing to the IPO.
| Period Ended | 31st March 2021 | 31st March 2022 | 31st March 2023 | 31st March 2024 |
|---|---|---|---|---|
| Total Income | 5,067.35 | 5,918.86 | 6,031.72 | 6,715.24 |
| Total Expenses | 4,222.12 | 4,946.31 | 5,278.36 | 5,978.08 |
| Net Profit/Loss | 418.59 | 702.56 | 561.85 | 527.58 |
| NPM (*) | 6.87 | 11.87 | 9.31 | 7.86 |
| Total Assets | 6,807.40 | 6,063.47 | 6,672.53 | 7,806.16 |
| Total Liabilities | 4,439.38 | 3,949.33 | 4,022.87 | 4,684.40 |
* NPM represents the net profit margin, calculated as a percentage. All other figures are presented in crore (₹cr)
Valuation
Uncover significant valuation metrics such as EPS (Earnings Per Share), ROE (Return on Equity), ROCE (Return on Capital Employed), D/E Ratio (Debt-to-Equity Ratio), Current Ratio, and EBITDA Margin. These key indicators offer insights into the company's financial standing and performance, aiding in informed investment decisions.
| Period Ended | 31st March 2021 | 31st March 2022 | 31st March 2023 | 31st March 2024 |
|---|---|---|---|---|
| EPS | 21.68 | 36.62 | 29.42 | 27.54 |
| ROE (%) | 17.68 | 33.23 | 21.20 | 16.90 |
| ROCE (%) | 22.71 | 29.69 | 22.01 | 19.37 |
| D/E Ratio | 0.76 | 0.99 | 0.83 | 0.67 |
| Current Ratio | 1.09 | 1.15 | 1.27 | 1.33 |
| EBITDA MARGIN (%) | 20.80 | 23.54 | 20.34 | 19.01 |
* Compiled from DRHP/RHP for valuation purposes.
Peer Comparison
Compare key financial metrics with industry peers to gain valuable insights into the company's performance compared to its competitors.
| Name | Revenue | P/E | EPS | RoNW | NAV |
|---|---|---|---|---|---|
| Emcure Pharmaceuticals Limited | 6,658.25 | 36.60 | 27.54 | 16.87 | 163.22 |
| Dr. Reddy's Laboratories Limited | 28,011.10 | 17.93 | 334.59 | 19.74 | 1,693.75 |
| Cipla Limited | 25,774.09 | 30.10 | 51.01 | 15.43 | 330.78 |
| Alkem Laboratories Limited | 12,667.58 | 33.86 | 150.19 | 17.41 | 862.46 |
| Torrent Pharmaceuticals Limited | 10,728.00 | 57.74 | 48.49 | 24.15 | 202.57 |
| Mankind Pharma Limited | 10,334.78 | 45.30 | 47.68 | 20.43 | 233.73 |
| Abbott India Limited | 5,848.91 | 47.43 | 565.28 | 32.48 | 1,740.71 |
| J. B. Chemicals & Pharmaceuticals Limited | 3,484.18 | 50.49 | 34.85 | 18.90 | 188.37 |
* Revenue in (₹cr), RoNW in (%), EPS, NAV in (₹). P/E ratio is based on the highest price from the IPO price band.
Subscription Data from NSE and BSE
| Investor Type | Subscribed |
|---|---|
| Qualified Institutional Buyer (QIB) | 191.24 |
| Non-Institutional Investor (NII/HNI) | 49.32 |
| Retail Individual Investor (RII) | 7.36 |
| Total | 67.87 |
* All figures represent multiples of the subscription. Check subscriptions for other ongoing issues here.
IPO Registrar
MUFG Intime India Private Limited (Formerly known as Link Intime India Private Limited)
Phone: + 91 810 811 4949
Email: ipo.helpdesk@linkintime.co.in
Website: https://linkintime.co.in/
Company Promoters
- SATISH RAMANLAL MEHTA
- SUNIL RAJANIKANT MEHTA
- NAMITA VIKAS THAPAR
- SAMIT SATISH MEHTA
Lead Managers
- Kotak Mahindra Capital Company Limited
- Axis Capital Limited
- Jefferies India Private Limited
- J. P. Morgan India Private Limited
Company Address
Emcure Pharmaceuticals Limited
Plot No. P-1 and P-2, IT-BT Park, Phase II, M.I.D.C., Hinjawadi, Pune 411 057, Maharashtra, India
Phone: +91 20 3507 0033, +91 20 3507 0000
Email: investors@emcure.com
Website: www.emcure.com
FAQs
- What is the issue size of the Emcure Pharmaceuticals IPO?The Emcure Pharmaceuticals IPO has an issue size of Approx ₹ 1,952.03 crore. This includes a fresh issue of ₹ 800 crore and an offer for sale (OFS) of Up to 11,428,839 shares (₹ 1,152.03 crore).
- What is the price band of the Emcure Pharmaceuticals IPO?The price band for the Emcure Pharmaceuticals IPO is ₹ 960 - 1,008 per share.
- What are the bidding dates for the Emcure Pharmaceuticals IPO?The Emcure Pharmaceuticals IPO will open for bidding on 03 Jul 2024 and close on 05 Jul 2024.
- What is the allotment date for the Emcure Pharmaceuticals IPO?The allotment date for the Emcure Pharmaceuticals IPO is 08 Jul 2024.
- What is the listing date for the Emcure Pharmaceuticals IPO?The listing date for the Emcure Pharmaceuticals IPO is 10 Jul 2024.
- What is the Emcure Pharmaceuticals IPO grey market premium?The grey market premium (GMP) for the Emcure Pharmaceuticals IPO is currently at ₹300, with an expected listing gain of approximately 29.76%. Remember, the grey market premium is not an official indicator, but it reflects market perception and demand for the IPO shares.