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Chemkart India IPO
Chemkart India Ltd
₹1,41,600 /600 sharesMinimum Investment
Chemkart India IPO Listing Details
| Listed On | Issue Price | Listing Price | Listing Gains |
|---|---|---|---|
| -- | ₹248.00 | ₹250.00 | ₹2.00 (0.81%) |
Chemkart India IPO Details
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| 7 Jul ‘25 - 9 Jul ‘25 | ₹2,83,200 | 600 | ₹236 - ₹248 |
| Issue Size | IPO Doc |
|---|---|
| 80.08Cr | RHP PDF |
Subscription rate
As of 09 Jul'25, 05:00 PM
| Qualified Institutional Buyers | 13.69x |
| Non-Institutional Investor | 5.67x |
| Retail Individual Investor | 1.41x |
| Total | 3.87x |
About Chemkart India
Founded in
2020
Managing director
Mr Ankit Shailesh Mehta
Parent organisation
Chemkart India Ltd
Strengths & Financials of Chemkart India
Strengths
Risks
Chemkart India offers a diversified product portfolio across seven primary categories: amino acids, health supplements, herbal extracts, nucleotides, proteins, sports nutrition, and vitamins. The company claims that its understanding of customer requirements has helped it offer products in various packaging sizes, catering to a broad range of nutraceutical needs.
The company claims to have in-house processing and warehousing capabilities at its Bhiwandi facility near Mumbai, spanning approximately 28,259.16 sq. ft. This facility is equipped with machinery for blending, grinding, packaging, labelling, and sealing nutraceutical ingredients.
Chemkart India operates in the B2B segment and claims to benefit from a widespread customer network. The company emphasises building long-term relationships with large buyers, which it believes strengthens its position in the nutraceutical supply chain.
The company has received Food Safety and Standards Authority of India (FSSAI) licences for both its warehouse and registered office under the Food Safety and Standards Act, 2006, Halal certification from the Global Accreditation Certification Board (GACB) in accordance with the Halal assurance system guidelines, and Kosher certification from MQA Certification Services. The company is also ISO 9001:2015 certified for quality management systems.
The company has witnessed a consistent increase in revenue from operations and profit after tax (PAT). Revenue from operations increased from Rs 131.38 crore in FY23 to Rs 132.03 crore in FY24 to Rs 203.28 crore in FY25. PAT increased from Rs 7.66 crore in FY23 to Rs 14.52 crore in FY24 to Rs 24.27 crore in FY25.
The top five suppliers accounted for Rs 73.71 crore (42.49 percent) (consolidated) of the company’s total purchases for FY25, Rs 43.58 crore (41.48 percent) (standalone) in FY24, Rs 54.27 crore (46.55 percent) (standalone) in FY23, and Rs 47.84 crore (65.89 percent) (standalone) in FY22. Any disruption in supplies from one or more of these suppliers could adversely affect the company’s business and finances.
Chemkart India sources a significant portion of its products from suppliers in China. They accounted for Rs 131.92 crore (76.04 percent) (consolidated) of the company’s total purchase of products for FY25, Rs 79.26 crore (75.43 percent) (standalone) in FY24, and Rs 81.83 crore (70.20 percent) (standalone) in FY23. Any adverse developments affecting procurement from China, such as geopolitical tensions, supply chain disruptions, or regulatory changes, could negatively impact Chemkart India’s revenue and operational efficiency.
A significant portion of Chemkart India’s sales is derived from Maharashtra. It accounted for Rs 76.00 crore (37.39 percent) (consolidated) of the company’s total revenue in FY25, Rs 61.06 crore (46.25 percent) (standalone) in FY24, and Rs 74.80 crore (56.94 percent) (standalone) in FY23. Any adverse political, social, or economic development in this state could adversely affect the company’s revenue and operations.
The top five customers accounted for Rs 67.30 crore (33.11 percent) (consolidated) of the company’s total revenue in FY25, Rs 41.72 crore (31.60 percent) (standalone) in FY24, and Rs 58.19 crore (44.29 percent) (standalone) in FY23. Any failure to retain these key customers, expand the customer base, or a loss of business from these key clients can adversely affect the company’s business and financial standing.
The company, its promoters, directors, subsidiaries, and group company are involved in certain ongoing legal proceedings, including criminal and tax-related matters. Any adverse judgments in any of these cases could be detrimental to the company’s business prospects.
Chemkart India faces potential conflicts of interest with its wholly-owned subsidiary, Easy Raw Materials Private Limited (ERMPL), and other promoter group companies, such as Profoods Nutrition Private Limited (PNPL) and Moksha Lifecare Private Limited (MLPL), which operate in the same nutraceutical sector.
A significant portion of the company’s revenue is derived from the sale of products in the amino acid category. They accounted for Rs 90.25 crore (44.40 percent) (standalone) of the company’s revenue in FY25, Rs 61.77 crore (46.78 percent) (standalone) in FY24, and Rs 83.76 crore (63.75 percent) (standalone) in FY23. Any reduction in the demand for the products in this category could harm the company’s business and financial standing.
The company reported a negative cash flow from operating activities of Rs 0.02 crore (consolidated) in FY24, negative cash flow from investing activities of Rs 4.25 crore (consolidated) in FY25, Rs 0.19 crore (consolidated) in FY24, and Rs 5.26 crore (consolidated) in FY23. If cash outflows continue to exceed inflows in the future, the company may face liquidity challenges.
A significant portion of the company's product purchases is denominated in foreign currencies. They accounted for Rs 152.35 crore (87.81 percent) (consolidated) of the company’s total purchases in the period ended September 30, 2024, Rs 86.66 crore (82.47 percent) (standalone) in FY24, and Rs 83.31 crore (71.47 percent) (standalone) in FY23. Any adverse fluctuations in exchange rates between the Indian rupee and foreign currencies could lead to increased purchase costs, affecting the company’s finances.
As of March 31, 2025, the company had outstanding financial indebtedness amounting to Rs 17.03 crore. Any failure to service or repay these loans can hurt the company’s operations and financial position.
Chemkart India Financials
*All values are in Rs. Cr
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Application Details of Chemkart India IPO
| Apply as | Price band | Apply upto |
|---|---|---|
| Regular | ₹236 - 248 | ₹2 - 5 Lakh |
| High Networth Individual | ₹236 - 248 | ₹2 - 5 Lakh |
For Chemkart India IPO, eligible investors can apply as Regular.