Eris Life-sciences is an Ahmedabad-based branded generic selling pharma company.
The company came out with its ₹1741 crore IPO in June last year, which was one of the largest ever witnessed in the pharmaceutical space and was subscribed 3.29 times.
Eris has a diverse product portfolio, which comprises of 80 mother brand groups and focuses primarily on developing, manufacturing and marketing products which are linked to lifestyle-related disorders that are chronic in nature and are treated by specialist and super-specialist doctors.
The company has a presence in chronic therapy segments such as cardiovascular, anti-diabetes and specialty acute segments like vitamins, gastroenterology, women’s health and bone health.
Eris earns zero revenue from exports; hence, it is immune to the US FDA issues currently plaguing the Indian pharmaceutical companies. This serves as a big distinctive factor for the company as compared to its peers. Also, the company has a manufacturing facility at Guwahati in Assam which ensures tax relief till 2024. The annual manufacturing capacity of the unit is 1500 million tablets, 250 million capsules and 40 million sachets. During the last quarter, the operating capacity utilisation of the company remained at 65 per cent on a single shiftbasis in Guwahati, which is ideal considering its recent expansions.
This facility at Assam accounts for about 75 per cent of sales and the balance is outsourced to contract manufactures. As a result, the effective tax rate for the company was as low as 8.3 per cent in FY17 and 12.7 per cent in FY16. The company expects it to be in the range of 8-9 per cent on a consolidated basis for the next year.
INDUSTRY OVERVIEW
この記事は Dalal Street Investment Journal の April 01, 2018 版に掲載されています。
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この記事は Dalal Street Investment Journal の April 01, 2018 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
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