Evoq Remedies Limited IPO

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About Evoq Remedies

The Company was incorporated as “Salus Life Science and Research Private Limited” at Ahmedabad, Gujarat on February 24th, 2010. Subsequently the name of the company was changed to “Evoq Remedies Private Limited” on July 15th, 2019 .Although the Company was formed in the year 2010, the Company started its operations in the year 2018 onwards.

Business of Evoq Remedies

The Company is one of the recognized trading house of Pharmaceuticals Raw Materials, Excipients, Bulk Drugs at affordable price catering to the customers located in Ahmedabad. They procure the pharmaceuticals Raw Materials products and chemicals from the suppliers which are having WHO-GMP approved production facilities in India and by focusing on the first-class distribution expertise. In the area of Pharmaceuticals Raw Materials, Excipients, Bulk Drugs etc., EVOQ Remedies Limited is specializes in offering quality products and affordable trading in Gujarat.

EVOQ is have a team of focused industry experts, who have in-depth knowledge of the industry and have with them expertise in offering best solutions for meeting their specific needs. They procure all the products from certified & reliable Manufacturers & Importers, who follow procedures as per the stringent national and international quality and safety standards.

EVOQ is having its registered office, corporate office and storage location facilities located in Ahmedabad. In the healthcare segment, EVOQ being into trading business which offers a wide basket of products.

EVOQ majorly does trading in following segments of pharmaceuticals raw materials: Excipients ¸ Nutraceuticals ¸ Pellets ¸ Solvents ¸ Sweetners ¸ Vitamins ¸ Amino Acids ¸ Bulk Drugs ¸ Dairy Products ¸ Active Pharmaceuticals Ingredients.

Objects of the Evoq Remedies Limited IPO:

The Issue Proceeds from the Fresh Issue will be utilized towards the following objects: 1. To Meet Incremental Working Capital Requirements 2. General Corporate Purpose 3. To meet Public Issue Expenses
DRHP of Evoq Remedies Limited IPO

Evoq Remedies Limited IPO Details:

Open Date: Mar 17 2022
Close Date: Mar 22 2022
Total Shares: 3,600,000
Face Value: ₹ 10 Per Equity Share
Issue Type: Fixed Price
Issue Size: 9.72 Cr.
Lot Size: 4000 Shares
Issue Price: ₹ 27 Per Equity Share
Listing At: BSE SME
Listing Date: Mar 30 2022

Promoters And Management:

(i) Mr. Bhumishth Narendrabhai Patel aged 38 year is a founder of the Company. He has appointed as Chairman cum Managing Director for a period of five (5) years w.e.f. February 12, 2022. He has more than 11 years of experience in the business of pharmaceutical industry. He has been a Director of the Company since incorporation. Under his leadership, Company has achieved various milestones which focus on continuous innovation and relentless pursuit of growth and excellence. He is a first-generation industrialist and has played a significant role in the development of the business. (ii) Mrs. Payal Bhumishth Patel, aged 39 years was appointed as an Executive Director of the Company w.e.f. June 17, 2020. Subsequently Changed her Designation from Executive Director to Non-Executive and Non-Independent Director w.e.f. February 12, 2022 liable to retirement by rotation. She is having experience of more than 7 years in the administration field. She played key role in Administration of company. Under his leadership our company established good public relation.

Financials of Evoq Remedies Limited IPO:

Particulars (in Lakhs) Sep-21 Mar-21 Mar-20 Mar-19
Sales 1,057 1,002 907 325
Purchases of Stock-In-Trade 1,030 794 908 326
Changes in Inventories -141 -9 -3 -3
Employee Benefits Expense 16 1 1 0
Other Expenses 27 121 1 1
Operating Profit 125 95 0 2
OPM % 11.83% 9.48% 0.00% 0.62%
Other Income 0 0 0 0
Interest 0 0 0 0.02
Depreciation 0 0 0 0
Profit before tax 125 95 0 2
Total Tax Exps 32 24 0 0
Net Profit 94 71 0 1
NPM % 8.89% 7.09% 0.00% 0.31%
No. of shares 136 136 136 136
EPS in Rs 5.52 10.05 0.00 0.16

Comparison With Peers:

As per DRHP company do not have any listed peers in the market.

Recommendation on Evoq Remedies Limited IPO:

Review and Recommendation of  EVOQ Remedies IPO by InvestorZone is 4/10

Lead Manager of Evoq Remedies Limited IPO:

  1. Swastika Investmart Limited

Registrar of Evoq Remedies Limited IPO:

  1. Bigshare Services Private Limited

Discussion on Evoq Remedies Limited IPO:

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