Incorporated in 2012, Ahmedabad-based Earum Pharmaceuticals Limited is engaged in trading, marketing, distribution of pharmaceutical formulation products. The company has 125 drugs formulation products including multivitamins, gynecology drugs, steroids, anti-biotic drugs, cerebral activator drugs, gastrointestinal drugs, etc. The company is also involved in the trading business of active pharmaceutical ingredients (API's) including Amoxicillin Trihydrate IP, Levofloxacin Hemihydrate IP, and Albendazole IP. Earum Pharmaceuticals is primarily engaged in two types of business activities; marketing of its own formulations products and trading of other brands' generic formulations. Currently, it has around 24 products which are manufactured by 3rd parties and marketed by the company under its brand name.It has a warehouse at Ahmedabad, Gujarat equipped with all amenities to process business operations smoothly. The company has a domestic and international presence across South East Asia, Latin America, and Africa.
Future goals of Earum Pharmaceuticals Ltd are:
1. Make global presence more prominent
2. Enhance customer satisfaction by improving market skills
3. Deal in quality standard products
The competitive strengths of the company are:
1. Wide product range
2. The experienced promoter of 11+ years experience
3. Quality assurance
Company Promoters:
Mr. Bhumishth Narendrabhai Patel and Mrs. Payal Bhumishth Patel are the promoters of the company.
Company Financials:
Summary of financial Information (Restated)
Particulars For the year/perio(d/d eefnadueltd.a s(pin) Rs. Lakhs)
31-Dec-18 31-Mar-18 31-Dec-17 31-Mar-16
Total Assets 2,741.00 2,052.88 1,108.45 878.71
Total Revenue 3,449.85 3,543.67 2,333.95 1,856.66
Profit After Tax 86.51 85.65 15.98 9.76
Objects of the Issue:
The company intends to utilize the proceeds of the Issue to meet the following objects:-
1. To meet Working Capital requirements
2. General Corporate Purpose
3. To meet issue expenses
Earum IPO Details
Issue Open Jun 21, 2019 - Jun 26, 2019
Issue Type Fixed Price Issue IPO
Issue Size 1,848,000 Eq Shares of Rs 10
(aggregating up to Rs 6.65 Cr)
Face Value Rs 10 Per Equity Share
Issue Price Rs 36 Per Equity Share
Market Lot 3000 Shares
Min Order Quantity 3000 Shares
Listing At BSE SME
Earum IPO Promoter Holding
Pre Issue Share Holding 100%
Post Issue Share Holding
Earum Pharmaceuticals Limited
G1, Ground Floor, V R Complex,
Near Sanathal Cross Road, SP Ring Road,
Sanathal, Ahmedabad, Gujarat-382210,
Phone: +91-79-48402525
Email: cs@earumpharma.com
Website: http://www.earumpharma.com
Bigshare Services Pvt Ltd
1st Floor, Bharat Tin Works Building,
Opp. Vasant Oasis,Makwana Road,
Marol, Andheri(E), Mumbai - 400 059
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: http://www.bigshareonline.com
Conclusion / Investment Strategy
EPL does not own manufacturing unit and is engaged in trading activities only. The issue is fully priced. Third-party contract business raises concern. Currently, the pharma sector is not fancied by investors. Merchant Banker has an average track record. Considering all these, investors may skip this issue.
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