Tarsons Products Limited IPO
(i) Tarsons Products Limited is an Indian labware company engaged in the designing, development, manufacturing, and marketing of ‘consumables’, ‘reusables’ and ‘others’ including benchtop equipment, used in various laboratories across research organizations, academia institutes, pharmaceutical companies, Contract Research Organizations (“CROs”), Diagnostic companies and hospitals
(ii) It has a diversified product portfolio with over 1,700 SKUs across 300 products. Its product portfolio is classified into three key categories which include consumables, reusables, and others. ‘Consumables’ category includes products such as centrifuge ware, cryogenic ware, liquid handling, PCR consumables and petri dish, transfer pipettes, and others. ‘Reusables’ category includes products such as bottles, carboys, beakers, measuring cylinders, and tube racks.
(iii) Currently, the company has 5 manufacturing facilities located in West Bengal spread across approximately 20,000 sq. mts of area. The company has a strong distribution network across India comprising of over 141 authorized distributors as of March 31, 2021 and supplies its products to more than 40 countries.
Some of the end customers include customers such as Indian Institute of Chemical Technology, National Centre for Biological Sciences across academic institutes and research organizations; Dr Reddy’s Laboratories, Enzene Biosciences across pharmaceutical sectors; Syngene International, Veeda Clinical Research across CROs; and Molbio Diagnostics, Agappe Diagnostic, Metropolis Healthcare, Dr. Lal Path Labs, Mylab Life Solutions across other sectors such as diagnostics.
The plastic labware market in India which is estimated as ₹1225 Crores as of year 2020 in value terms and estimated to expand at a CAGR of 16.00% to reach approximately ₹2575 Crores by year 2025 (Source: Frost & Sullivan Report).
Tarsons Products cater to the global plastic laboratory products market which was estimated to be USD 8.4 billion in year 2020 and is expected to expand at a CAGR of approximately 10.50% to reach approximately USD 13.8 billion by year 2025 (Source: Frost & Sullivan Report).
They supply products to over 40 countries across both developed and emerging markets through a blend of branded and ODM sales. The overseas sales in Fiscal 2021 accounted for ₹75 Crores representing 33.02% of the revenue from operations.
The Chairman and Managing Director, Sanjive Sehgal, having over 30 years of experience, and Whole-Time Director, Rohan Sehgal with over 7 years of experience in the labware manufacturing sector in India, have been instrumental in the growth of the Company. They are supported by an able management team which contribute significantly in the growth and management of the Company.
i. Diverse range of labware products
ii. Large addressable market with long-standing relationships
iii. Well-equipped and automated manufacturing facilities
Objects of the Tarsons Products Limited IPO:
Tarsons Products Limited IPO Details:
|Open Date:||Nov 15 2021|
|Close Date:||Nov 17 2021|
|Face Value:||₹ 2 Per Equity Share|
|Issue Type:||Book Built Issue|
|Issue Size:||1,023.47 Cr.|
|Lot Size:||22 Shares|
|Issue Price:||₹ 635-662 Per Equity Share|
|Listing Date:||Nov 26 2021|
Promoters And Management:
Financials of Tarsons Products Limited IPO:
|Particulars (in Cr)||2021||2020||2019|
|Cost of materials consumed||44||38||42|
|Purchase of Stock in Trade||11||11||14|
|Change in inventory||5||-1||-5|
|Employee Benefit Expense||24||20||16|