Quest IPO

Quest Laboratories Ltd

₹1,11,600 /1200 sharesMinimum Investment

Quest IPO Listing Details

Listed OnIssue PriceListing PriceListing Gains
--₹97.00₹155.10₹58.10 (59.90%)

Quest IPO Details

Bidding DatesMin. InvestmentLot SizePrice Range
15 May ‘24 - 17 May ‘24₹1,11,6001,200₹93 - ₹97
Issue SizeIPO Doc
43.16Cr
RHP PDF

About Quest

Quest Laboratories Ltd is a manufacturer of pharmaceutical formulations, including antibiotics, antimalarials, antispasmodics, anti-inflammatories, antiemetics, respiratory medications, diabetes treatments, and antidepressants, among others. It produces ethical drugs, generic drugs, and over-the-counter drugs (OTC) in various forms such as tablets, liquid orals, oral dry powders, oral powders (ORS), ointments, and external liquids. The company’s manufacturing facility is located at Dhar, Madhya Pradesh. The company operates in the domestic market across 12 states and 2 Union Territories of Uttar Pradesh, Madhya Pradesh, Maharashtra, Delhi, Jharkhand, Assam, Karnataka, Jammu & Kashmir, Rajasthan, West Bengal Gujarat, Telangana, Haryana and Bihar.;
Parent Organisation
Quest Laboratories Ltd
Founded
1998
Managing Director
Anil Kumar Sabarwal

Strengths & Risks

  • The company holds WHO Schedule M GMP; GLP and ISO 9001:2015 certifications. It also holds the ISO/IEC 17025:2017 accreditation. The company has the Good Laboratory Practice (GLP) certification issued by the Food & Drug Administration, Bhopal, Madhya Pradesh.
  • As per the RHP, the company has the requisite approvals to manufacture more than 600 formulations. The company routinely manufactures 250 to 300 different types of formulations, depending on market demand and the capacity of its limited formulation lines.
  • The company manufactures a variety of generic drugs – branded, OTC and specialised.
  • The company’s total income and profit after tax (PAT) have risen consistently over the years. For the period ended December 31, 2023 and for the financial years ended March 31, 2023, 2022 and 2021, revenue from operations stood at Rs 62.08 crore, Rs 61.64 crore, Rs 59.48 crore and Rs 30.36 crore, respectively, while PAT came in at Rs 7.75 crore, Rs 5.03 crore, Rs 4.11 crore and Rs 0.66 crore, respectively.
  • One of the promoters of the company Mr. Anil Kumar Sabarwal has been sentenced to a one-year imprisonment and a fine of Rs 20,000 for manufacturing Not of Standard Quality (NSQ) drugs. Any adverse judgment in this matter could hurt the company’s operations. There are also outstanding litigations against the company.
  • The company’s existing manufacturing facility is concentrated in a single region, i.e., Pithampur, Indore, Madhya Pradesh. Any inability to operate the business in this region due to economic, financial, political or any other reasons could adversely impact the company’s business.
  • The company depends heavily on certain suppliers for major raw materials that it uses in the production of drugs at its manufacturing unit. The company has not entered into long-term contracts with these suppliers. So, any disruption in supply could adversely impact the operations of the company.
  • The company has financial indebtedness of Rs 4.61 crore. The company also had certain contingent liabilities amounting to Rs. 7.69 cr as of December 21, 2023.
  • The company is heavily dependent on the government for business. For the period ended December 31, 2023 and financial years ended March 31, 2023, March 31, 2022 and March 31, 2021, business from government institutions accounted for 77.91%, 61.93%, 51.11% and 18.05%. Any disruption in orders from the government could hurt the company’s business.

Financials

*All values are in Rs. Cr
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Application details

Apply asPrice bandApply upto
Regular93 - 97₹2 Lakh
High Networth Individual93 - 97₹2 - 5 Lakh
For Quest IPO, eligible investors can apply as Regular.
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