Incorporated in 1981, Emcure Pharmaceuticals Limited is a prominent Indian pharmaceutical company that develops, manufactures, and globally markets a diverse range of pharmaceutical products across several major therapeutic areas.
As of September 2023, Emcure ranks 13th in domestic sales among Indian pharmaceutical companies and holds the 4th largest market share in its covered markets. The company has led the gynaecology and HIV antiviral therapeutic areas for the same period.
In the first half of FY 2023, sales in India accounted for 50.84% of Emcure's total revenue, while for the entire FY 2023, this figure was 53.16%. Between September 2019 and September 2023, Emcure’s domestic sales grew at a CAGR of 10.80%, surpassing the overall growth of the Indian pharmaceutical market.
Emcure employs 552 scientists and operates five research facilities in India, having filed over 1,800 documents globally, including 204 in the EU and 133 in Canada. The company boasts 201 granted patents, 33 pending applications, and 102 drug master files.
The company's 13 manufacturing facilities in India produce a variety of pharmaceutical and biopharmaceutical products. Its marketing and distribution network in India is supported by over 5,000 field personnel and stockists, served by 37 carry-and-forward agents, ensuring a robust interaction with healthcare providers nationwide.
Industry Outlook:
- The Indian pharmaceutical industry, valued at ₹3.6-3.8 trillion in FY24, is the world's third largest by volume, exporting to over 200 countries.
- Domestic formulations in India are projected to grow at an 8-9% CAGR, reaching approximately ₹2.9-3.0 trillion by FY29, driven by rising chronic diseases.
Emcure Pharmaceuticals Limited IPO Objectives
The company plans to allocate the net proceeds from the issuance to the following purposes:
- Repayment and/ or prepayment of all or a portion of certain outstanding borrowings availed by the company; and
- General corporate purposes
Peer Details
The companies considered by Emcure Pharmaceuticals as its peers include:
- Dr. Reddy's Laboratories Limited
- Cipla Limited
- Alkem Laboratories Limited
- Torrent Pharmaceuticals Limited
- Mankind Pharma Limited
- Abbott India Limited
- J. B. Chemicals & Pharmaceuticals Limited
How to Check the Allotment Status of the Emcure Pharmaceuticals Limited IPO?
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Contact Details of Emcure Pharmaceuticals Limited IPO
- Registered office: Plot No. P-1 and P-2, IT-BT Park, Phase II, M.I.D.C., Hinjawadi, Pune 411 057, Maharashtra, India
- Phone: +91 20 3507 0033, +91 20 3507 0000
- E-mail:investors@emcure.com
IPO Financials
| Particulars | Year ending on March 31, 2024 | Year ending on March 31, 2023 |
|---|---|---|
| Total Revenue (in ₹ million) | 66,582.51 | 59,858.11 |
| Profit After Tax (PAT) (in ₹ million) | 5,275.75 | 5,618.45 |
| Cash & Cash Equivalents (in ₹ million) | 634.08 | 2,159.13 |
| Net Worth (in ₹ million) | 29,522.83 | 25,011.26 |
| Debt Equity Ratio (x) | 0.67 | 0.83 |
| Return on Equity (%) | 16.90% | 21.20% |
| Return on Capital Employed (RoCE) (%) | 19.37% | 22.01% |
| Diluted Earning Per Share (EPS)-in absolute ₹ | 27.54 | 29.42 |
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Strengths
8Leverages domestic market position with 48.28% revenue from India.
Ranked 13th largest Indian pharmaceutical company by domestic sales.
Leading market share in gynaecology and HIV antivirals.
Outpaced IPM growth in key therapeutic areas, a strong portfolio.
70.67% specialist prescriptions among India's top 20 pharmaceutical companies.
Robust marketing and distribution network with 5,000 personnel and stockists.
International sales contributed 51.72% of total revenue in diversified markets.
Strong R&D capabilities with 548 scientists and 220 patents.
Risks
8Manufacturing issues could damage reputation and expose to liabilities.
Failure to meet quality standards risks significant product liability claims.
Operational risks in manufacturing and R&D may cause disruptions.
Extensive regulations require obtaining and maintaining numerous statutory approvals.
Dependence on third-party suppliers could affect supply and pricing.
Debt covenants and obligations may impact financial stability and operations.
