Emcure Pharmaceuticals - IPO Note: Dolat Capital
BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Dolat Capital Report
Emcure Pharmaceuticals Ltd. has a diversified revenue profile, with 44% revenue from India, 31% from U.S./Canada, and 12% from Europe.
Apart from an established market position (ranked 12th) in IPM, Emcure has increased its presence in Europe and Canada by establishing front-end marketing network through acquisitions of Tillomed Laboratories (U.K.), Marcan Pharmaceuticals (Canada).
Between FY11-21, company posted 15% revenue and PAT CAGR respectively. Post the peak Ebitda margins of 26% in FY16, they have been on a downhill to 14% in FY20. FY21 saw a recovery to 20% apparently due to Covid-related savings and de-merger of its U.S. business.
The hit was likely due to USFDA import alert at one of Emcure’s largest plant at Hinjewadi, Pune
Click on the attachment to read the full report:
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.