Sunrest Lifescience Limited IPO

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Sunrest Lifescience deals in pharmaceutical products is centered around the production and distribution of a wide range of drugs and related healthcare products. Here’s an explanation of their business model:

Product Range: The company offers a diverse range of pharmaceutical products, including capsules, tablets, syrup, ointments, gels, mouthwash, solutions, suspensions, dry powders, and toothpaste. These products cover various therapeutic categories, such as Anti-Bacterial, Anti-Diarrheal, Anti-Fungal, Anti-Malarial, Anti-Diabetic, Dental Care, Anti-Protozoal, Anti-Histamine, Anti-Hypertensive, Cosmetic, Anti-Parasitic, Multivitamin, Multimineral, Nutraceutical, and Anti-Inflammatory drugs.

Trademark and Product Portfolio: The company holds 18 registered trademarks for 32 products, indicating its commitment to brand recognition and intellectual property protection.

Distribution Model: The company distributes its products through a network that includes stockists and super stockists. These intermediaries, in turn, make the products available at various points of sale, including chemist shops, dispensaries, hospitals, etc.

Manufacturing Model: The company relies on a combination of in-house manufacturing (through their group company, Trilend Pharmaceuticals Private Limited) and third-party manufacturing. This approach allows flexibility in production and the ability to cater to specific customer requirements. They have 43 third-party manufacturers located in different states.

Location Presence: The company’s registered office is located in Ahmedabad, Gujarat, while its godown (storage facility) is situated in a different location in Ahmedabad. This dual location setup likely serves as a central hub for their operations.

Quality Assurance and Regulatory Compliance: The company places significant emphasis on product quality and regulatory compliance. They partner with manufacturers that have the necessary certifications and approvals from regulatory authorities. The company also conducts thorough checks of the manufacturer’s credibility, past product quality, and the hygiene and cleanliness of their facilities.

Quality Control: The company’s quality control department inspects products and ensures that they meet the company’s quality standards. Manufacturers are required to provide analysis reports for each batch of products, and the company rejects any products that fail to meet quality requirements.

Research & Development: The company’s focus is primarily on generic products, and they do not have their own research and development (R&D) centers. This suggests that they may not engage in extensive research for new drug development but rather focus on manufacturing and distributing existing pharmaceutical products.

Objects of the Sunrest Lifescience Limited IPO:

The Issue Proceeds from the Fresh Issue will be utilized towards the following objects: 1. Meeting Working Capital Requirements 2. General Corporate Purpose 3. Meeting Public Issue Expenses

Sunrest Lifescience Limited IPO Details:

Open Date: Nov 07 2023
Close Date: Nov 09 2023
Total Shares: 1,291,200
Face Value: ₹ 10 Per Equity Share
Issue Type: Fixed Price Issue IPO
Issue Size: 10.85 Cr.
Lot Size: 1600 Shares
Issue Price: ₹ 84 Per Equity Share
Listing At: NSE Emerge
Listing Date: Nov 20 2023

Promoters And Management:

Ms. Juhi Sawajani, aged 27 years, is an Independent Director of the Company since March 01, 2023. She is an Associate member of Institute of Company Secretaries of India and also holds a Master’s degree in Commerce from Gujarat University. Presently, she is working as a Company Secretary of Sky Textiles India Private Limited. Ms. Sawajani is well experienced in the field of secretarial compliances, GST, Finance and Trademark Registration. Mr. Nikhilkumar Y Thakkar, aged 39 years is the Managing Director of the company. He is one of the first director and promoter of the Company. He holds degree in Bachelor of Pharmacy from Bapuji Pharmacy College, Rajiv Gandhi University, Karnataka and is having more than 15 years of experience in the Pharma Industry. He has been instrumental in taking major decision of the Company. He is playing vital role in business operations, business development and strategic decisions of the Company. Mr. Amitbhai Shambhual Thakkar, aged 41 years is a Whole-Time Director of the Company. He is one of the first director and promoter of the Company and was appointed as the Whole-Time Director of the Company with effect from March 03, 2023. He has completed his school from Shree V K Vaghela High School, Diyodar, Banaskantha, Gujarat and possess more than 20 years of experience in the pharmaceutical industry. He has been instrumental in taking major decision of the Company. He is playing vital role in business operations, business development, financial matters and strategic decisions of the Company. He was a director in Wellogen Pharma Private Limited and possess a vast knowledge in of the pharmaceutical industry.

Financials of Sunrest Lifescience Limited IPO:

Particulars ( In Lakhs )
Revenue from Operations 1,695 2,689 2,464 564
Other Income 0 2 3 0.1
Total Revenue 1,695 2,691 2,467 564
Purchases of Stock-in-Trade 1,240 1,824 1,652 396
Change in Inventories -105 -77 -165 -178
Employee benefits expenses 237 254 320 91
Other Expenses 295 578 366 154
EBITDA 27 112 293 100
Depreciation & Amortisation 4 6 13 2
Finance Cost 0.8 1 6 0.6
EBIT 23 106 280 98
OPM (%) 1.62% 4.17% 11.89% 17.82%
PBT 22 105 274 97
Tax 6 27 70 22
PAT 17 78 204 75
NPM (%) 0.98% 2.89% 8.28% 13.32%
No.of Shares 42.91 42.91 42.91 42.91
EPS 0.38 1.81 4.76 1.74

Comparison With Peers:

Name of the Company Revenue (In Crore) PAT (In Crore) EPS ( in Rs) P/E CMP Mcap (In Crore)
Sunrest Lifescience Limited 25 2 4.76 17.6 84 36
Trident Lifeline Limited 32 6 5.23 32.6 195 224
Vaishali Pharma Limited 70 7 6.26 21.7 137 145
Chandra Bhagat Pharma Limited 120 1 1.21 84.0 101 76
* All the data is as per FY23.

Lead Manager of Sunrest Lifescience Limited IPO:

  1. Mark Corporate Advisors Private Limited

Registrar of Sunrest Lifescience Limited IPO:

  1. Skyline Financial Services Private Ltd

Company Address:

Sunrest Lifescience Limited FF-41, Ajay Tenament-6, Near Canal Near Ritanagar, Bus Stand Vastral Road, Ahmedabad-382415 Phone: +91-079 - 29918245 Email: Website

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