About the Company:
Onyx Biotec Ltd manufactures Sterile Water for Injections, and acts as a pharmaceutical contract manufacturer offering a comprehensive range of Dry Powder Injections and Dry Syrup for India and overseas.
Onyx started its operation in pharmaceutical industry with sterile water for injections in the year 2010. Since then, Onyx has been associated with the healthcare segment and offering Sterile Pharmaceutical products and has become a prominent supplier of sterile products to major corporations, which includes the top pharma companies at pan India level.
Onyx is committed to provide high-quality products at affordable price.
Company’s products are being processed and manufactured in accordance with best FDA practices available globally. Our system and product is tested constantly at each level to ensure international standards of quality in-house and FDA Certified Laboratories.
Company’s core business is focused on providing end-to-end product development and manufacturing solutions to our clients. Company’s service also include preparation and filing of regulatory dossiers in the Indian and global markets.
Company’s Clients:
Company’s longstanding relationships with our clients are characterized by a commitment to consistency and trust.
As of May 31, 2024, Company’s key clients includes Hetero Healthcare Limited, Mankind Pharma Limited, Sun Pharmaceutical Industries Ltd, Aristo Pharmaceuticals Pvt Ltd, Macleods Pharmaceuticals Ltd, Mapra Laboratories Pvt Ltd, Axa Parenterals Ltd, FDC Ltd, Zuventus Healthcare Ltd, Akums Drugs and Pharmaceuticals Ltd, Reliance Life Sciences Ltd, among others.
Company’s Manufacturing Facilities:
Company has two manufacturing facilities in Himachal Pradesh. The manufacturing units are situated at: Unit I – Bir Plassi Near Sainimajraropar, Ropar, Nalagarh Road, District Solan – 174101, Himachal Pradesh, India.Unit II – Village Teliwala. P.O Manjholi, Tehsil: Nalagarh, Distt: Solan – 174101, Himachal Pradesh, India.
Company’s manufacturing facility Unit I is having production capacity of 6,38,889 units of Sterile Water for Injections per day and Unit II is having a capacity of 40,000 units of dry Powder injection per day and 26,667 units of dry syrup per day in a single shift.
Capacity Utilization:
Segment wise Revenue Breakup:
Management Team:
- Mr. Sanjay Jain (Designation: Managing Director)
- Mr. Harsh Mahajan (Designation: Whole-time Director, Chief Executive Officer and Chief Financial Officer)
Objectives of the Issue:
Fresh Issue: (Rs.29.34 cr)
- Upgradation of existing manufacturing Unit I to manufacture large volume parentals for intravenous use.
- Setting up a high-speed cartooning packaging line at existing manufacturing Unit II for Dry Powder Injections.
- Prepayment or repayment of all or a portion of certain loans availed by our Company.
- General Corporate Purposes.
Fund Utilization:
| Particulars | Amount (Rs. in Crores) |
|---|---|
| Upgradation of existing manufacturing Unit I to manufacture large volume parentals for intravenous use | 6.07 cr |
| Setting up a high-speed cartooning packaging line at existing manufacturing Unit II for Dry Powder Injections | 1.24 cr |
| Prepayment or repayment of all or a portion of certain loans availed by our Company | 12 cr |
Utilization from IPO Proceeds:
Company intends to utilise a Rs.6.07 crores of the Net Proceeds towards upgradation of our existing manufacturing Unit I, to manufacture large volume parentals for intravenous use, which will be sold under Onyx brand name to pharma companies, distributors, stockist and hospitals.
This will enable our Company to cater the entities which are operating in critical care space of healthcare industry. This will also enable us to offer all three categories of sterile products to our customers. We also intend to utilise a Rs.1.24 cr of the Net Proceeds to setup a high-speed cartooning packaging line at existing manufacturing Unit II for Dry Powder Injections.
We believe that setting up a high-speed cartooning packaging line which will enable us to (i) complete packaging at a considerably quicker rate; (ii) Cost efficiency by reducing manpower cost; and (ii) Ensure product safety and error free output. These will contribute immensely towards our business operations and market position.
Positives for the company:
One of the prominent contract manufacturers in sterile manufacturing.
- Company is well known through our brand named ― ‘Onyx’ ― in the sterile manufacturing industry. Our brand and our Company‘s experience has helped us to earn the trust and goodwill of our clients which further has an influence on the prospective client’s decision.
- Company currently manufactures comprehensive range of Sterile Water for Injections, Dry Powder Injections and Dry Syrups for Indian and overseas market.
- Company’s well established and recognizable brand and the reputation built by us has and will enable us to increase our clientele list in the future. With a rich history spanning over a decade, our Company has emerged as a prominent force in the in sterile manufacturing.
Strong, cordial & long term relationship with our clients.
- As of May 31, 2024, our client base comprised more than 100 Indian and multinational pharmaceutical companies, increasing from approximately 10 as of March 31, 2022. Company’s client base includes Hetero Healthcare Ltd, Mankind Pharma Ltd, Sun Pharmaceutical Industries Ltd, Aristo Pharmaceuticals Pvt Ltd, Macleods Pharmaceuticals Ltd, Mapra Laboratories Pvt Ltd, Axa Parenterals Ltd, FDC Limited, Zuventus Healthcare Ltd, Akums Drugs and Pharmaceuticals Ltd, Reliance Life Sciences Ltd, among others.
- During the Financial Year 2024, we manufactured for more than 100 leading pharmaceutical companies. Furthermore, we have benefitted from repeat orders in the past three years from 35 of our more than 100 clients in terms of revenue, as of May 31, 2024.
Leverage our position in the loan licencing to the pharma companies.
- Company’s manufacturing facility with a proven track record in quality, regulatory compliance, and production capacity, enables us to offer loan licencing to the top pharma companies.
- During FY2024 and in FY2025 till date, we have entered into loan licencing arrangement for production of dry injections for 3 pharmaceutical companies namely Glenmark Pharmaceutical Limited, Fusion Healthcare Pvt Ltd and Superior Pharmaceuticals.
- Company intends to enter into further loan licencing arrangements for our large volume parentals which is proposed to be produced at our Unit I. Our Loan licensing arrangement can be a powerful strategy for our Company to expand their operations efficiently.
Financials of the Company:
| (in Crores) | FY 22 | FY 23 | FY 24 | Upto 30th June 24 |
|---|---|---|---|---|
| Revenue | 44.98 | 39.61 | 53.87 | 10.54 |
| Net Profit | 3.35 | 1.84 | 3.03 | 1.30 |
Valuation of Peer Group Companies:
| Company Name | Face Value | EPS | PE Ratio | RoNW | NAV |
|---|---|---|---|---|---|
| Onyx Biotec Ltd | 10 | 2.54 | 24.01 | 12.19% | 19.66 |
| Suven Pharma Ltd | 1 | 11.80 | 83.92 | 14.64% | 375.82 |
| JB Chemicals Ltd | 1 | 35.66 | 53.63 | 18.90% | 188.37 |
IPO Details:
| Details | Info |
|---|---|
| Issue Opens on | 13th November 2024 |
| Issue Closes on | 18th November 2024 |
| Issue Price | Rs.58-61 |
| Face Value | Rs.10 |
| Minimum Lot | 2000 Shares |
| Minimum Investment | Rs.1,22,000 |
| Issue Constitutes | 26.52 % |
| Issue Size | Rs.29.34 cr |
| Market Cap | Rs.110.60 cr |
| Listing at | NSE SME |
| Equity Shares Offered (Fresh) | 48,10,000 |
| Equity Shares Prior to the Issue | 1,33,22,200 |
| Equity Shares after the Issue | 1,81,32,000 |
IPO Valuation Parameters:
| Earnings Per Share (EPS) | Price To Earnings ratio (PE) | Return on Net Worth (RoNW) | Net Asset Value (NAV) | Debt Equity Ratio (D/E) |
|---|---|---|---|---|
| 2.54 | 24.01 | 12.19% | 19.66 | 1.24 |
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Important Dates:
| Finalization of Basis of Allotment | on or Before 19th November 2024 |
| Initiation of Refunds | on or Before 20th November 2024 |
| Credit of Equity Shares: | on or Before 20th November 2024 |
| Listing Date: | on or Before 21st November 2024 |
| Company Contact Info: |
|---|
| Onyx Biotec Ltd Bir Plassi Near Sainimajraropar, Nalagarh Road, District Solan – 174 101, Himachal Pradesh, India. Tel: +91 172 2656384 E-mail: generalinfo@onyxbiotec.com Website: www.onyxbiotec.com |
| Registrar to the Issue: |
|---|
| MAS Services Limited T-34, 2nd Floor, Okhla Industrial Area, Phase-II New Delhi- 110 020 Telephone: +91 112 638 7281/83, 114 132 0335 Facsimile: +91 112 638 7384 E-mail: ipo@masserv.com Website: www.masserv.com |
| Check IPO Allotment Status: |
|---|
MAS Services Website:http://MAS Services/IPO/Allotment_Status |