Concord Biopharma started its operations in 2016 and is a leading Indian pharma company engaged in manufacturing selected fermentation-based APIs (Active Pharmaceutical Ingredients) for immunosuppressants and oncology drugs. Concord Biopharma exports to more than 70 countries in the USA, Europe, Japan, Nepal, Mexico, Indonesia, Thailand, Ecuador, Kenya, Singapore, Paraguay, and India. It has established a successful, backwards-integrated, scalable business model. The company is one of the few companies to produce six fermentation-based immunosuppressant APIs.
Concord Biotech is expanding to include anti-fungal and oncology drug APIs.
Concord Biotech Ltd IPO Details
Concord Biotech is a 100% offer for sale worth ₹1,551.00 crore. The issue comprises 20,925,652 shares and is priced at ₹705 to ₹741 per share. Retail investors can bid for the Concord Biotech Limited IPO, which will open on August 4, 2023. Concord Biotech Limited’s IPO will list on the BSE and NSE exchanges on August 18, 2023.
Concord Biotech Ltd IPO Objective
- To achieve the benefits of listing on the stock exchanges
- To carry out the offer for sale of up to 20,925,652 shares
Noteworthy Highlights Of Concord Biotech Ltd
- As of March 31, 2022, the annual installed capacity for formulation manufacturing was 522.64 million units.
- The company caters to 200 customers in 70 countries and offers a diversified product portfolio of 27 brands across immunosuppressant API, nephrology, anti-fungal, anti-infective, oncology, and critical care drugs APIs.
Competitive Peers
Other listed players in the segment recognised by Concord Biotech Ltd are Divi’s Laboratories, Suven Pharmaceuticals, Laurus Labs, and Shilpa Medicare.
Concord Biotech Ltd Company Financials
| Particulars | March 31, 2023 (₹ in million) | March 31, 2022 (₹ in million) |
|---|---|---|
| Total Income | 8,884.77 | 7,363.49 |
| Profit After Tax (PAT) | 2,400.84 | 1,749.29 |
| Net Worth | 12,900.01 | 11,032.23 |
| Earnings Per Share | 22.95 | 16.72 |
| Total Borrowings | 312.36 | 605.86 |
Know before investing
Strengths
2The net worth of the company increased from ₹9,993.73 million on March 31, 2021, to ₹12,900.01 million on March 31, 2023.
Concord Biopharma is a leader in its segment with a 20% market share in 2022, in terms of volume.
Risks
2Concord Biotech’s revenue is dependent on limited customers and any interruption in the client’s demand can adversely impact the company’s revenue.
If the company is not able to obtain trademarks and patents for their products, the business can get impacted.
