Subscribe to Supriya Lifescience: Ajcon Global

Ajcon Global has come out with its report on Supriya Lifescience. The research firm has recommended to ''Subscribe'' the ipo in its research report as on December 16, 2021.

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December 17, 2021 / 10:24 AM IST

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Ajcon Global IPO report on Supriya Lifescience

Supriya Lifescience Limited (“SLL”) was incorporated on March 26, 2008. SLL is one of the key Indian manufacturers and suppliers of active pharmaceuticals ingredients (“APIs”), with a focus on research and development. Company’s focus is primarily on diverse therapeutic areas and niche products. As of October 31, 2021, SLL has niche product offerings of 38 APIs focused on diverse therapeutic segments such as antihistamine, analgesic, anaesthetic, vitamin, anti‐asthmatic and anti‐allergic. The Company has consistently been the largest exporter of Chlorpheniramine Maleate and Ketamine Hydrochloride from India. The Company was among the largest exporters of Salbutamol Sulphate contributing to 31 percent of the API exports from India in FY 2021 in volume terms. (Source: CRISIL Report).

Valuation and Outlook

At the upper end of the price band of ₹274, the Company's IPO is valued at P/E of 17x at H1FY22 annualised EPS and P/E of 18x on FY21 EPS which looks decent and reasonable. We recommend investors to "SUBSCRIBE" to the issue owing to the following factors.