Senores Pharmaceuticals Limited IPO

Incorporated in December 2017, Senores Pharmaceuticals Limited develops and manufactures a range of pharmaceutical products primarily for the regulated markets of the US, Canada, and the UK, while also serving emerging markets.

The company’s product portfolio consists of Amphetamine Sulfate Tablets, Hydroxychloroquine Sulfate Tablets, Ketoconazole Tablets, Butalbital, Acetaminophen and Caffeine Capsules, Mexiletine Hydrochloride Capsules, Ketorolac Tromethamine Tablets, Diclofenac Potassium Tablets, Diclofenac Potassium Tablets, Nicardipine Hydrochloride Capsules, Escitalopram Tablets, Prochlorperazine Maleate Tablets USP, Terazosin Capsules USP, Morphine Sulfate Tablets, Methadone Hydrochloride Tablets, Cyclobenzaprine Hydrochloride Tablets, Irbesartan Tablets, Risperidone Tablets Topiramate Capsules, and Ivermectin Tablets for regulated markets.

As of September 30, 2024, the company has launched 55 products in key therapeutic areas, including antibiotics and anti-fungal treatments. They have established partnerships with distributors and hospitals across several states in India.

As of September 30, 2024, the company operates three dedicated R&D facilities in India and the US.

The company operates in Emerging Markets across 43 countries and manufactures critical care injectables and APIs.

The company’s manufacturing unit is situated in Ahmedabad, Gujrat.

Competitive Strength

The company serves the US, Canada, and the UK regulated markets with its US FDA-approved manufacturing facility.
A unique product portfolio tailored for regulated markets developed in a brief period.
Long-term marketing agreements with pharmaceutical companies in the US, Canada, and the United Kingdom regulated markets.
Presence in the Emerging Markets with a product portfolio, including speciality or complex products.
Robust R&D capabilities driving our differentiated portfolio of products.
Experieced Management Team

Senores Pharmaceuticals Limited Financial Information (Restated Consolidated)

Senores Pharmaceuticals Limited’s revenue increased by 457% and profit after tax (PAT) rose by 288% between the financial year ending with March 31, 2024 and March 31, 2023.

Period Ended	30 Sep 2024	31 Mar 2024	31 Mar 2023	31 Mar 2022
Assets	678.08	621.88	131.05	59.15
Revenue	183.35	217.34	39.02	14.63
Profit After Tax	23.94	32.71	8.43	0.99
Net Worth	319.06	231.71	45.5	36.59
Reserves and Surplus	263.36	175.94	35.25	25.37
Total Borrowing	242.03	248.38	60.76	14.21
Amount in ₹ Crore

Key Performance Indicator

The market capitalization of Senores Pharmaceuticals IPO is Rs 1350.70 Cr.

KPI as of Sun, Mar 31, 2024.

KPI	Values
ROE	23.60%
ROCE	11.73%
Debt/Equity	1.07
RoNW	23.60%
PAT Margin	15.25
Price to Book Value	5.84

Objects of the Issue (Senores Pharmaceuticals IPO Objectives)

The Company proposes to utilise the Net Proceeds towards funding the following objects:

Investment in one of the Subsidiaries, Havix Group, Inc. d/b/aAavis Pharmaceuticals(“Havix”), to fund capital expenditure requirements for setting up a manufacturing facility for the production of sterile injections in the Atlanta Facility;
Repayment/pre-payment, in full or in part, of certain borrowings availed by the Company;
Investment in the Subsidiary, namely, Havix, for re-payment/pre-payment in whole or part of certain borrowings availed by such Subsidiary;
Funding the working capital requirements of the Company;
Investment in the Subsidiaries, namely, Senores Pharmaceuticals Inc. (“SPI”)and Ratnatris Pharmaceutical Private Limited (“Ratnatris”), to fund their working capital requirements.
Funding inorganic growth through acquisition and other strategic initiatives and general corporate purposes.

Senores Pharmaceuticals IPO Details

IPO Date	December 20, 2024 to December 24, 2024
Listing Date	[.]
Face Value	₹10 per share
Price Band	₹372 to ₹391 per share
Lot Size	38 Shares
Total Issue Size	1,48,87,723 shares (aggregating up to ₹582.11 Cr)
Fresh Issue	1,27,87,723 shares (aggregating up to ₹ 500.00 Cr)
Offer for Sale	21,00,000 shares of ₹10 (aggregating up to ₹82.11 Cr)
Issue Type	Book Built Issue IPO
Listing At	BSE, NSE
Share Holding Pre Issue	3,32,65,865 shares
Share Holding Post Issue	4,60,53,588 shares

Senores Pharmaceuticals IPO Promoter Holding

The promoters of the company are Swapnil Jatinbhai Shah and Ashokkumar Vijaysinh Barot.

Share Holding Pre Issue	71.10%
Share Holding Post Issue

SHARIAH SCREENING for - Senores Pharmaceuticals Limited IPO

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BUSINESS SCREEN

FINANCIAL RATIOS

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