Supriya Lifescience

IPO Size

`700 Cr

Price Band

`265-274 Per Share

Minimum Lot Size

54 Share

Face Value

`2 Per Share

Employee Discount

NA

Retail Allocation

10%

Issue Open Date

16 Dec, 2021

Issue Close Date

20 Dec, 2021

Listing Date

28 Dec, 2021

About the Company:

Supriya Life sciences are one of the key Indian manufacturers and suppliers of active pharmaceutical ingredients (“APIs”), with a focus on research and development. As of March 31, 2021, the company has niche product offerings of 39 APIs focused on diverse therapeutic segments such as antihistamine, analgesic, anesthetic, vitamin, anti-asthmatic and antiallergic. The company is the largest exporter of Chlorpheniramine Maleate and Ketamine Hydrochloride from India, contributing to 45-55% and 65-70%, respectively, of the API exports from India, between Fiscal 2017 and 2020.

 

In Fiscal 2021, the firm's products were exported to 78 countries to 1,060 customers including 286 distributors. The firm's API business has grown in several countries across (i) Europe, which contributed to 25.81% of revenue from operation for the nine months ended December 31, 2020; (ii) Latin America, which contributed to 12.37% of revenue from operation for the nine months ended December 31, 2020; (iii) Asia (excluding India), which contributed to 24.19% of revenue from operation for the nine months ended December 31, 2020 (iv) North America (including Canada), which contributed to 6.16% of revenue from operation for the nine months ended December 31, 2020; and (vi) India, which contributed to 23.63% of revenue from operation for the nine months ended December 31, 2020.

 

The firm's business operations are supported by a modern manufacturing facility located in Parshuram Lote, Maharashtra, which is approximately 250 km from Mumbai, Maharashtra. The manufacturing facility is spread across 23,806 sq. mts, having a reactor capacity of 332 KL/ day. We presently operate five cleanrooms and are setting up two new clean rooms that are expected to be commercialized in the first quarter of Fiscal 2022. The new cleanrooms will add a manufacturing capacity of 215 KL/ day.

Outstanding Litigation:

S.No. 1 - Company 2 - Directors 3 - Promoters
Entity Name By the Company Against the Company By the Director Against the Director By the Promoter Against the Promoter
Criminal cases - 2 - - - -
Material civil cases - - - - - -
Taxation matters - - - - - -
Regulatory Proceedings - - - - - -

Financial Statements:

Income Statement(in Milllions) Dec'2020 March'2020 March'2019
Gross Operating Income 2,679.27 3,227.13 2,858.62
Cost of Employee & Inventory 234.72 255.91 189.71
Other Expenses 1,530.69 2,132.62 2,131.01
EBITDA 1,148.58 1,094.52 727.61
Finance Cost 65.37 68.49 102.22
Depreciation 49.77 64.05 54.35
Profit Before Tax  1,033.45 961.98 571.04
 Tax 271.59 228.24 176.79
Profit After Tax 761.86 733.74 394.24

Promoter of the Company

Satish Waman Wagh

Peer Comparison

• Solara Active Pharma Sciences limited • Neuland Laboratories limitd • Aarti Drugs limited • Wanbury limited • Divis Laboratories Limited

Objectives of the Issue

Offer for Sale

Proceeds from the Offer for sale worth Rs500cr, will not be received by the company.

Fresh Issue

Net proceed of Rs 200cr from the fresh issue will be utilized for the following: • Funding capital expenditure requirements of the company • Repayment and/ or pre-payment, in full or part, of certain borrowings availed by the company and • General corporate purposes

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