Walpar Nutritions IPO

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(i) Incorporated in 2009, Walpar Nutritions is a manufacturing company with a wide range of Nutraceutical, Ayurvedic, Cosmeceuticals, Sexual Wellness, and Food supplement products. The Company develops, manufactures, and commercializes HERBO-NUTRACEUTICAL products including sales, marketing, quality assurance, distribution, compliance, and regulatory aspects under Nutraceuticals.

(ii) WALPAR has developed more than 100 formulations and 1000 brands for the third party for the domestic market under different segments like Orthopaedics, Gynaecology, Paediatrics, Cardiac, Diabetic, Dermatology, Pain Management, Antibiotics, Neuro, Critical Care, Gastro-Intestinal and Sports nutrition.

(iii) The company’s manufacturing unit is located at Gandhinagar. At present, it is having an installed capacity of manufacturing of approx. 30 Lakhs tablets per month, 12.50 Lakhs capsules per month, 1.50 Lakhs oral liquids per month, and 2.00 Lakhs Sachets per month.

Competitive Strengths
(i) Experienced management team
(ii) Product Range
(iii) Quality assurance

Objects of the Walpar Nutritions IPO:

The company is raising funds through fresh issue 1. Investment in Subsidiary 2. To Meet Incremental Working Capital Requirements 3. General Corporate Purpose 4. To meet Public Issue Expenses
DRHP of Walpar Nutritions IPO

Walpar Nutritions IPO Details:

Open Date: Jun 30 2021
Close Date: Jul 05 2021
Total Shares: 12,00,000
Face Value: ₹ 10 Per Equity Share
Issue Type: Fixed
Issue Size: 6.60 Cr.
Lot Size: 2000 Shares
Issue Price: ₹ 55 Per Equity Share
Listing At: NSE Emerge

Promoters And Management:

(i) Mr. Kalpesh Pravinchandra Ladhawala, aged 44 years. He was appointed as an executive Director since the Incorporation of the company, i.e. from December 04, 2020. Subsequently, he was re-designated as a Chairman cum Managing Director of the company on January 19, 2021. He is a Master of Philosophy (Science) in Microbiology and a Master of Science with Microbiology from Gujarat University. He started his career by working in various pharma companies. He has rich work experience of more than 13 years in the field of pharmaceutical, Nutraceuticals, and Herbal industries. In 2009, he started his own business as a partner in Walpar Healthcare. He is the guiding force behind all the corporate decisions and is responsible for the entire business operations of the Company since incorporation. (ii) Mr. Tanmaykumar Ashwinbhai Shah, aged 35 years. He is appointed as an executive Director since the Incorporation of the company, i.e. from December 04, 2020. Subsequently, he was re-designated as a Whole Time Director of the company on January 19, 2021. He is Post Graduate in Pharmacy with a specialization in pharmacology from Sardar Patel University. He has good teaching experience of three years as an assistant professor and more than 10 Years of experience in the field of Pharmaceutical, Nutraceuticals, and Herbal industries. He is heading the marketing department of the company. (iii) Mrs. Sejal Kalpesh Ladhawala, aged 42 years. She is appointed as an executive Director since the Incorporation of the company, i.e. from December 04, 2020. Subsequently, she was appointed as an Executive Director of the company on January 19, 2021, for a period of 5 years. She is a Master of Commerce from The Maharaja Sayajirao University of Baroda. She has experience of more than 5 years in the area of Finance and Accounts. Currently, she looks after the Finance & Accounts division of the company.

Financials of Walpar Nutritions IPO:

Particulars (in Lakhs) 9MFY21 Mar-20 Mar-19 Mar-18
Sales 1136 1671 1282 644
Cost of Material Consumed 786 1246 989 395
Change in Inventories 35 -185 -90 -1.59
Employee Benefits Expense 146 256 166 89
Finance Costs 36 72 43 17
Depreciation and Amortization 21 29 25 20
Other Expenses 101 233 137 120
Operating Profit 67 120 80 41
OPM % 5.89% 7.23% 6.25% 6.35%
Profit before tax 8.74 19.02 11.81 2.75
Total Tax Exp. 2.94 6.83 4.94 2.42
Net Profit 5.8 12.18 6.88 0.33
NPM % 0.51% 0.73% 0.54% 0.05%
EPS 0.19 0.41 0.23 0.01

Recommendation on Walpar Nutritions IPO:

Review and Recommendation of Walpar Nutrition IPO by IZ team is 1/10. 1. No revenue growth in the last 3 years. 2. The IPO is coming at very high P/E. 3. The sector is very competitive.

Lead Manager of Walpar Nutritions IPO:

  1. Beeline Broking Limited

Registrar of Walpar Nutritions IPO:

  1. Skyline Financial Services Private Ltd

Company Address:

Walpar Nutritions Limited 2nd Floor, L5: 377 PLOT:5, Opp. Sabarmati, Village Taluka kalol, Gandhinagar-382721 Phone: +91 94277 12047 Email: finance.walpar@hotmail.com Website: http://www.walparnutritions.com/

Discussion on Walpar Nutritions IPO:

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