Zenith Drugs IPO
Zenith Drugs Limited
₹1,20,000 /1600 sharesMinimum Investment
Zenith Drugs IPO Listing Details
| Listed On | Issue Price | Listing Price | Listing Gains |
|---|---|---|---|
| NSE | ₹79.00 | ₹110.00 | ₹31.00 (39.24%) |
Zenith Drugs IPO Details
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| 19 Feb ‘24 - 22 Feb ‘24 | ₹1,20,000 | 1,600 | ₹75 - ₹79 |
| Issue Size | IPO Doc |
|---|---|
| 40.68Cr | RHP PDF |
About Zenith Drugs
Zenith Drugs Limited is a pharmaceutical manufacturing and trading company based in Indore. The company produces medicines, including generics. Some of its products include ORS powder, liquid orals, ointments, liquid externals and capsules. Currently, the company has FDA approval of over 600 products from Food & Drugs Administration. Out of these, it manufactures 325 products regularly.
As per the company, it adheres to WHO-GMP guidelines and has received the ISO 9001:2015 certification (Euro-UK Certification body).;
Parent Organisation
Zenith Drugs Limited
Founded
2000
Managing Director
Mr. Sandeep Bhardwaj
Strengths & Risks
- As per the company, it is able to employ cost efficiency while producing pharmaceuticals. The company also conducts white-label manufacturing for some pharmaceutical companies.
- The company has some international presence and distribution networks spanning a few countries. Its products are distributed in countries such as Costa Rica, Malawi, Mauritius, Mozambique, Sudan, Tanzania, Bhutan and Combodia, etc.
- The company has a wide product portfolio that includes generic drugs, branded pharmaceuticals, over-the-counter (OTC) products, and specialized medications.
- The company has reported positive revenue from operations and profit after tax in the last 3 financial years. Revenue from operations was Rs. 73.40 cr, Rs. 91.65 cr, and Rs. 114.51 cr in FY 2021, 2022 and 2023 respectively. Profit after tax was Rs. 3.03 cr, Rs. 3.13 cr, and Rs. 5.15 cr for these 3 years respectively.
- There are certain outstanding legal proceedings involving the company and its promoters. Any adverse decision in such proceedings could have a material adverse effect on its business, results of operations and financial condition.
- The company is highly dependent on a few key raw material suppliers and has not entered into long-term agreements with them. In case it is unable to procure adequate amounts of raw materials at competitive prices, its business and operations could be adversely affected.
- The company has borrowed unsecured loans totalling Rs. 53.98 cr, subject to possible recall by lenders. In case any lender demands repayment, the company may need to explore alternative financing sources, which may not be commercially viable. This situation could potentially lead to insufficient working capital for repayment or the arrangement of new alternatives.
- The company has certain contingent liabilities, the materialization of which could have an adverse impact on its financial condition.
- Majority of the company’s revenues are dependent on two products i.e., ORS Powder and Liquid Orals amounting 22.28% and 39.31% respectively of its total sales.
- The company had negative cash flow from operating activities of Rs. (4.41) cr in Financial year ended March 31, 2023 and Rs. (1.02) cr for the period ended September 30, 2023.
Financials
*All values are in Rs. Cr
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Application details
| Apply as | Price band | Apply upto |
|---|---|---|
| Regular | ₹75 - 79 | ₹2 Lakh |
| High Networth Individual | ₹75 - 79 | ₹2 - 5 Lakh |
For Zenith Drugs IPO, eligible investors can apply as Regular.
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