Incorporated in June 2022, Himalaya Nutravedics India Limited is engaged in the manufacturing, marketing and distribution of Ayurvedic and nutraceutical formulations in India and also undertakes third-party contract manufacturing for other Ayurvedic and nutraceutical companies. The Company manufactures a diversified portfolio comprising classical (Shastric) Ayurvedic formulations, proprietary Ayurvedic formulations and nutraceutical supplements. Its products are available in multiple dosage forms, including soft gelatin capsules, hard gelatin capsules, tablets, liquid orals and medicated oils. The products cater to therapeutic and wellness areas such as gut health, cardiac and metabolic wellness, diabetes management, pain management, immunity, women’s wellness and general wellness.
Himalaya Nutravedics operates through a hybrid business model comprising its own branded products and third-party contract manufacturing. Under its own-brand business, the Company develops, manufactures and markets Ayurvedic and nutraceutical products, while its third-party manufacturing business provides formulation, manufacturing, packaging and dispatch services based on client specifications. As of March 31, 2026, its own-brand business contributed approximately ₹2,202.54 lakh, representing about 51.14% of total revenue.
The Company operates an integrated manufacturing facility in Hyderabad, Telangana, where formulation, production, quality control, packaging and finished-goods release are carried out internally. The facility is compliant with WHO-GMP standards and holds registrations and licences from AYUSH and FSSAI, along with certifications including ISO 9001:2015, ISO 22000:2018, HACCP, HALAL and KOSHER.
As of July 31, 2026, the Company had 86 full-time employees across marketing, factory, finance, quality, compliance and administration functions.
Competitive Strengths
Himalaya Nutravedics India Ltd.’s revenue increased by 105% and profit after tax (PAT) rose by 231% between the financial year ending with March 31, 2026 and March 31, 2025.
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 24.42 | 10.82 | 6.09 |
| Total Income | 43.12 | 21.00 | 14.43 |
| Profit After Tax | 7.39 | 2.23 | 0.43 |
| EBITDA | 8.10 | 2.99 | 0.94 |
| NET Worth | 16.38 | 6.75 | 1.34 |
| Reserves and Surplus | 10.07 | 2.76 | 0.53 |
| Total Borrowing | 5.13 | 1.76 | 3.24 |
| Amount in ₹ Crore | |||
| Company | Issue Type | Issue Size | Issue Price | PE Ratio | Listing Day Close | Listing Gain/Loss % | LTP |
|---|---|---|---|---|---|---|---|
| Elfin Agro India Ltd. | SME | ₹25.03 Cr | ₹47 | 13.05 | ₹47.60 | +1.28% | ₹91.00 |
| Shyam Dhani Industries Ltd. | SME | ₹38.49 Cr | ₹70 | 13.19 | ₹139.65 | +99.50% | ₹53.50 |
| Pajson Agro India Ltd. | SME | ₹74.45 Cr | ₹118 | 10.11 | ₹130.20 | +10.34% | ₹207.20 |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding Working Capital Requirements | 13.75 |
| 2 | Business Development and Digital Marketing Activities | 7.50 |
| 3 | General Corporate Purposes | |
| Total | 21.25 |
| KPI | Mar 31, 2026 |
|---|---|
| ROE | 63.87% |
| ROCE | 36.41% |
| Debt/Equity | 0.31 |
| RoNW | 45.12% |
| PAT Margin | 17.16% |
| EBITDA Margin | 18.82% |
| NAV | 26.70 |
| Price to Book Value | 3.97 |
| Valuation Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS (₹) | 11.72 | 8.39 |
| P/E (x) | 9.04 | 12.63 |
| IPO Date | 22 to 24 Sep, 2026 |
| Listing Date | Tue, Sep 29, 2026 |
| Face Value | ₹10 per share |
| Price Band | ₹100 to ₹106 |
| Lot Size | 1,200 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Total Issue Size | 24,99,600 shares (agg. up to ₹26 Cr) |
| Reserved for Market Maker | 1,26,000 shares (agg. up to ₹1 Cr) |
| Fresh Issue (Ex Market Maker) | 23,73,600 shares (agg. up to ₹25 Cr) |
| Net Offered to Public | 23,73,600 shares (agg. up to ₹25 Cr) |
| Share Holding Pre Issue | 63,06,720 shares |
| Share Holding Post Issue | 88,06,320 shares |
The promoters of the company are Rohit Asawa, Divya Asawa, Chanda Asawa and Rama Raju Penmatsa.
| Share Holding Pre Issue | 95.14% |
| Share Holding Post Issue | 68.13% |
As per our analysis and Based on the information we have, this is the output.
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