Survival Technologies Limited IPO

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They are a contract research and manufacturing services (“CRAMS”) focused speciality chemical manufacturer in India.
They are engaged in the supply of specialty chemicals with multiple applications and many products they sell domestically are import substitutes that were formerly imported from China.

They engage with customers across their product life cycles, i.e., providing extensive in-house research for development of products, commercial scale process development, and manufacture of commercial quantities of products.

Their R&D capabilities and multiple manufacturing facilities have enabled to develop core competencies in a number of chemistries in-house, including complex chemistries such as heterocyclic chemistry, hydrazide chemistry, macrocyclic ethers, trifluoromethylation, electrophilic and nucleophilic fluorination using various fluorination reagents.

They have an experienced management and leadership team led by the Chairman and Whole-time Director, Vijaykumar Raghunandanprasad Agrawal, who has over four decades of experience in the speciality chemicals sector and is actively involved in the critical aspects of the business, including leading their R&D efforts.

Competitive Strengths

(i) Leading contract research and manufacturing service speciality chemicals player with focus heterocyclic and fluoro product groups
(ii) Established competence in multiple, complex chemistries through continuous research and development
(iii) Diversified business model with high entry barriers
(iv) Well established and long-standing relationships with marquee customer base
(v) Focus on manufacturing quality products, with modern infrastructure and a robust supply chain
(vi) Track record of robust financial performance


Objects of the Survival Technologies Limited IPO:

The Offer comprises the Fresh Issue by the Company and the Offer for Sale by the Selling Shareholders. The Company proposes to utilize the Net Proceeds from the Fresh Issue towards funding the following objects: 1. Funding the working capital requirements; and 2. General corporate purposes

Survival Technologies Limited IPO Details:

Issue Type: Fixed Issue
Listing At: NSE,BSE

Promoters And Management:

Vijaykumar Raghunandanprasad Agrawal is the Chairman and Whole-time Director of the Board of the Company. He holds a bachelor’s degree in commerce from the University of Bombay. He has over 40 years of experience in the speciality chemicals sector. Nimai Vijay Agrawal is the Managing Director and Chief Executive Officer on the Board of the Company. He has completed the Senior Executive Leadership Program from the Harvard Business School. He has over 17 years of experience in the speciality chemicals sector. Prabha Vijay Agarwal is a Whole-time Director on the Board of the Company. She holds a master’s degree in arts (economics) from the University of Bombay. She has over 17 years of experience in the speciality chemicals sector  

Financials of Survival Technologies Limited IPO:

Particulares ( In Crore ) 2022 2021 2020
Revenue From Operations 311 274 199
Other Income 9 9 1
Revenue 321 284 200
Cost of Material Comsumed 158 154 120
Changes in Inventories -7 1 -4
Employees Benefit Expenses 23 16 14
Other Expenses 46 32 33
EBITDA 101 79 35
Depreciation 4 3 4
EBIT 97 75 31
OPM (%) 31.64% 27.86% 17.96%
Finance Cost 0.54 0.99 2
PBT 97 74 29
Tax 23 18 10
PAT 73 56 18
NPM (%) 22.84% 19.74% 9.46%
No. of Shares 8 8 8
EPS 8.5 6.5 2.1

Comparison With Peers:

Name of the Company Revenue (Cr) EPS P/E CMP Mcap (Cr) Profit (Cr)
Survival Technologies Limited 311 8.52 N/A N/A N/A 73
Navin Fluorine International Limited 1453 53.12 77.94 4079 20,123 263
Alkyl Amines Chemical Limited 1542 44.04 61.28 2701 13,946 224
Aether Industries Limited 590 9.67 86.46 869 11,066 108
Neogen Chemicals Limited 487 18.70 65.82 1240 3,113 44

Recommendation on Survival Technologies Limited IPO:

To be updated once Survival Technologies files for RHP.

Lead Manager of Survival Technologies Limited IPO:

  1. ICICI Securities Limited
  2. JM Financial Consultants Private Limited

Registrar of Survival Technologies Limited IPO:

  1. Link Intime India Private Limited

Company Address:

1401A, Naman Midtown, 14thFloor
Senapati Bapat Marg, Elphinstone Road
Prabhadevi West, Mumbai
400 013 Maharashtra, India

Discussion on Survival Technologies Limited IPO:

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