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Vaishali Pharma Ltd IPO (Vaishali Pharma IPO) Detail

Aug 7, 2017 - Aug 10, 2017

Incorporated in 2008, Vaishali Pharma Ltd is a pharmaceutical company engaged in pharmaceutical formulations, APIs, surgical products, veterinary supplements, herbal & nutraceutical products. They are operating both in domestic and export markets. They have also established office in the Vietnam. At present they are supplying in around 10 countries.

In domestic markets, they are majorly into trading of APIs whereas in export markets, they are into trading and marketing of APIs, formulations, surgical products and others. Recently they have applied for 186 registrations in 13 countries for some of their products and received 71 approvals from 7 countries.

They export Formulations, Surgical & APIs to Kenya, Sri Lanka, Russia, DR Congo, Myanmar, Tajikistan, Bangladesh, Kazakhstan, Cameroon, Jordan, Burkina -Faso, Nicaragua, Senegal, Pakistan, Ukraine, Yemen, Cambodia, Turkey, Congo, Zimbabwe, Ethiopia, Tanzania, Vietnam, Armenia, Costa Rica, Nigeria, C.A.R. and Guinea-Bissau.

Company Promoters:

The promoters of the company are:

1. Atul Vasani
2. Jagruti Vasani

Company Financials:

Summary of financial Information (Consolidated)
Particulars For the year/period ended (in Rs. Lakhs)
31-Mar-17 31-Mar-16 31-Mar-15 31-Mar-14 31-Mar-13
Total Assets 4464.87 4941.31 4579.50 5342.97 4858.17
Total Revenue 6711.22 6989.13 9882.37 12156.90 11909.85
Profit After Tax 66.37 (3.03) 16.15 30.05 60.00

Objects of the Issue:

The objects to the Issue are:

1. Working Capital requirements;
2. General Corporate Purposes.

Issue Detail:

  »»  Issue Open: Aug 7, 2017 - Aug 10, 2017
  »»  Issue Type: Book Built Issue IPO
  »»  Issue Size: 1,976,000 Equity Shares of Rs 10 aggregating up to Rs 14.23 Cr
  »»  Face Value: Rs 10 Per Equity Share
  »»  Issue Price: Rs 71 - Rs 72 Per Equity Share
  »»  Market Lot: 1600 Shares
  »»  Minimum Order Quantity: 1600 Shares
  »»  Listing At: NSE SME

Vaishali Pharma IPO Reviews:

  1. Vaishali Pharma Ltd IPO review by Dilip Davda

Issue Subscription Detail / Current Bidding Status

Number of Bids Received
As on Date & TimeQIBNIIRIITotal
Shares Offered / Reserved0988,000988,0001,976,000
Day 1 - Aug 8, 2017 17:00 IST0180800206400387200
Day 2 - Aug 9, 2017 17:00 IST80005552005744001137600
Day 3 - Aug 10, 2017 17:00 IST8000184960018864003744000

Vaishali Pharma IPO Prospectus

Vaishali Pharma IPO Rating

90
3.5
Rating:Rated 3.5 stars

Vote Here ...

Vaishali Pharma IPO Listing Date

  •   ›  Listing Date: Tuesday, August 22, 2017
  •   ›  BSE Script Code:
  •   ›  NSE Symbol: VAISHALI
  •   ›  Listing In:
  •   ›  ISIN: INE972X01014
  •   ›  Issue Price: Rs 72 Per Equity Share
  •   ›  Face Value: Rs 10 Per Equity Share

Listing Day Trading Information

.
Issue Price:
Open:
Low:
High:
Last Trade:
Volume:
NSE SME
Issue Price:Rs 72.00
Open:Rs 71.90
Low:Rs 66.55
High:Rs 73.00
Last Trade:Rs 70.35
Volume:400,000

Vaishali Pharma IPO News Alerts

  1. Tuesday, August 22, 2017 12:00:00 AM
    Vaishali Pharma Ltd IPO - Listing
  2. Thursday, August 10, 2017 12:00:00 AM
    Vaishali Pharma Ltd IPO - Close
  3. Monday, August 7, 2017 12:00:00 AM
    Vaishali Pharma Ltd IPO - Open

Company Contact Information

Vaishali Pharma Ltd
706 to 709 7th Floor,
Aravali Business Centre,
Borivali(W) , Mumbai - 400092
Phone: + 91-22-28928833
Fax: +91-22-28928833
Email: investor@vaishalipharma.com
Website: http://www.vaishalipharma.com

Vaishali Pharma IPO Registrar

Bigshare Services Pvt. Ltd   »  Report
   Bigshare Services Pvt Ltd E-2 & 3,
   Ansa Industrial Estate, Saki-Vihar Road,
   Sakinaka, Andheri(E), Mumbai - 400 072

Phone: 91-22-40430200
Fax: 91-22-2847 5207
Email: ipo@bigshareonline.com
Website: http://www.bigshareonline.com

Vaishali Pharma IPO Lead Manager(s)

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Vaishali Pharma IPO Review / Comments

avatar
21. Jon snow  Sep 20, 2017 6:22:12 PM IST I Like It. | Report Abuse Reply
Worth investing under HNI ? Please advise.
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20. Chandumench  Aug 14, 2017 1:54:46 PM IST I Like It. | Report Abuse Reply
Listing kab hai.....
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19. DownriteVJ  Aug 10, 2017 1:55:37 PM IST I Like It. | Report Abuse Reply
77%
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18. DownriteVJ  Aug 9, 2017 5:46:08 PM IST I Like It. | Report Abuse Reply
60% subscribed. Good.
avatar
17. PKP Gotka Mrt  Aug 9, 2017 5:17:12 PM IST I Like It. | Report Abuse Reply
Subscription report?
Vaisala Pharma and
Ashok masala
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16. STOCKT  Aug 9, 2017 12:50:20 PM IST I Like It. | Report Abuse Reply
Pathetic .sales and profits decreasing and asking such high pe .not even worth 40 rs
Stay away
Also looking at such high subscription of recent sme not performing well this one doesn''t e even worth looking at
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15. ANUJ TAHLAN  Aug 4, 2017 8:20:36 AM IST I Like It. 1 | Report Abuse Reply
NEW IN IPO PLZZZ TELL ME ABOUT SME
WHERE I INVEST MY MONEY
IN WHICH IPO I CAN APPLY FOR GOOD PROFIT I HAVE LIMITED FUNDS
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15.1. Mumbai DON  Aug 4, 2017 5:10:26 PM IST I Like It. 1 | Report Abuse
Top Contributor Top Contributor (200+ Posts, 100+ Likes)
To enter in current market is little bit risky as u r new.so better go for mutual fund or sip .
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14. Prabhakaran Kuppusamy  Jul 31, 2017 6:24:18 PM IST I Like It. 4 | Report Abuse Reply
Top Contributor Top Contributor (300+ Posts, 200+ Likes)
Pros:
ROE/ROCE is at PAR
Cons:
D/E is dangerously going beyond 6
Cash flow is mixed
Sales is decreasing gradually (but the net is increasing) - confusing

There is nothing positive about this issue.
Even if the issue price is below 50, I wouldn''t have subscribed to this.
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14.6. SecTheta  Aug 3, 2017 8:00:32 PM IST I Like It. 1 | Report Abuse
Lexus apply and rest avoid
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14.7. Hiro Devrani  Aug 3, 2017 9:45:21 PM IST I Like It. 1 | Report Abuse
Thank you sec theta sir
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13. sento  Aug 3, 2017 3:49:51 PM IST I Like It. | Report Abuse Reply
Vaishali Pharma Ltd IPO good or not
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12. Ankitxyz  Aug 1, 2017 12:31:15 AM IST I Like It. 4 | Report Abuse Reply
Top Contributor Top Contributor (300+ Posts, 300+ Likes)
Prabhakaran Kuppusamy

I completely agree with you, there is nothing positive about this company. The story of Radhika Jeweltech Ltd is likely to get repeated. There is negative growth in revenue,PAT,EBITDA and cash flows. Rational investors will not apply in this IPO.
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11. Hiren K.  Jul 31, 2017 6:49:57 PM IST I Like It. | Report Abuse Reply
Upcoming SME IPO LEXUS GRANITO..on 9th Aug.
avatar
10. Prabhakaran Kuppusamy  Jul 31, 2017 6:19:20 PM IST I Like It. 2 | Report Abuse Reply
Top Contributor Top Contributor (300+ Posts, 200+ Likes)
Key operating ratios

Year end      Mar 17      Mar 16      Mar 15      Mar 14      Mar 13
EPS(Rs)      2.21      -      3.23      6.01      12.00
Book value(Rs)      12.90      64.09      64.70      61.47      55.46
CEPS(Rs)      3.03      6.80      12.20      6.80      12.60
NPM(%)      1.00      -0.04      0.17      0.25      0.51
OPM(%)      6.63      5.59      4.20      2.77      1.57
ROCE(%)      16.07      12.75      13.97      19.13      14.68
ROE(%)      18.67      -0.93      5.07      10.27      21.66
Debt/equity      6.22      7.16      6.95      4.86      3.47
Interest cover      1.32      1.00      1.04      1.23      1.95
avatar
9. Prabhakaran Kuppusamy  Jul 31, 2017 6:19:04 PM IST I Like It. | Report Abuse Reply
Top Contributor Top Contributor (300+ Posts, 200+ Likes)
Cash flow analysis(Rs.in Crs.)
Year end      Mar 17      Mar 16      Mar 15      Mar 14      Mar 13
NOPAT      2.70      -      3.75      1.62      1.23
Operating cash flow      0.85      4.59      -3.72      -7.04      3.80
Free cash flow      0.86      4.67      -2.19      -6.56      3.81
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8. Prabhakaran Kuppusamy  Jul 31, 2017 6:18:49 PM IST I Like It. | Report Abuse Reply
Top Contributor Top Contributor (300+ Posts, 200+ Likes)
Key financials (Rs.in Crs.)
Year end      Mar 17      Mar 16      Mar 15      Mar 14      Mar 13
Net sales      66.05      66.71      94.56      120.71      118.81
Operating profit      4.38      3.73      3.97      3.34      1.86
Net profit      0.66      -0.03      0.16      0.30      0.60
Equity cap pd      3.00      0.50      0.50      0.50      0.50
avatar
7. Prabhakaran Kuppusamy  Jul 31, 2017 6:18:27 PM IST I Like It. | Report Abuse Reply
Top Contributor Top Contributor (300+ Posts, 200+ Likes)
Variance (Half Yearly)
Year      201703      201603      Var(%)
Type      Full Year      Full Year
Sales Turnover      66.05      66.71      -0.99
Other Income      1.06      3.18      -66.67
Total Income      67.11      69.89      -3.98
Total Expenditure      62.73      66.16      -5.18
Operating Profit      4.38      3.73      17.43
Interest      3.12      3.37      -7.42
Gross Profit      1.26      0.36      250.00
Depreciation      0.25      0.37      -32.43
Tax      0.36      0.04      800.00
Reported PAT      0.66      -0.03      N.A.
Dividend (%)      0.00      0.00      N.A.
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6. Prabhakaran Kuppusamy  Jul 31, 2017 6:17:59 PM IST I Like It. | Report Abuse Reply
Top Contributor Top Contributor (300+ Posts, 200+ Likes)
P & L Account(Rs.in Crs.)

Year      Mar 17      Mar 16      Mar 15      Mar 14      Mar 13
Sales Turnover      66.05      66.71      94.56      120.71      118.81
Other Income      1.06      3.18      4.26      0.86      0.29
Stock Adjustments      -2.21      0.04      -4.83      2.80      -0.44
Total Income      64.90      69.93      93.99      124.37      118.66
Raw Materials      55.22      62.07      86.42      117.03      113.11
Excise Duty      0.00      0.00      0.00      0.00      0.00
Power & Fuel Cost      0.00      0.00      0.00      0.00      0.00
Other Manufacturing Expenses      0.00      0.00      0.00      0.00      0.00
Employee Cost      1.58      1.56      1.85      2.00      1.19
Selling and Administration Expenses      0.00      0.00      0.00      0.00      0.00
Miscellaneous Expenses      3.73      2.57      1.75      2.01      2.49
Less: Preoperative Expenditure Capitalised      0.00      0.00      0.00      0.00      0.00
Profit before Interest, Depreciation & Tax      4.38      3.73      3.97      3.34      1.86
Interest & Financial Charges      3.12      3.37      3.37      2.68      0.94
Profit before Depreciation & Tax      1.26      0.36      0.60      0.66      0.92
Depreciation      0.25      0.37      0.45      0.04      0.03
Profit Before Tax      1.01      0.00      0.15      0.61      0.89
Tax      0.35      0.03      -0.01      0.31      0.29
Profit After Tax      0.66      -0.03      0.16      0.30      0.60
Adjustment below Net Profit      -2.50      0.00      0.00      0.00      0.00
P & L Balance brought forward      2.70      2.74      2.57      2.27      1.67
Appropriations      0.00      0.00      0.00      0.00      0.00
P & L Bal. carried down      0.87      2.70      2.74      2.57      2.27
Equity Dividend      0.00      0.00      0.00      0.00      0.00
Preference Dividend      0.00      0.00      0.00      0.00      0.00
Corporate Dividend Tax      0.00      0.00      0.00      0.00      0.00
Equity Dividend (%)      0.00      0.00      0.00      0.00      0.00
Earning Per Share (Rs.)      2.21      0.00      3.23      6.01      12.00
Book Value      12.90      64.09      64.70      61.47      55.46
Extraordinary Items      0.00      0.00      0.00      0.00      0.00
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5. Prabhakaran Kuppusamy  Jul 31, 2017 6:17:35 PM IST I Like It. | Report Abuse Reply
Top Contributor Top Contributor (300+ Posts, 200+ Likes)
Balance Sheet(Rs.in Crs.)

Year      Mar 17      Mar 16      Mar 15      Mar 14      Mar 13
Share Capital      3.00      0.50      0.50      0.50      0.50
Reserves & Surplus      0.87      2.70      2.74      2.57      2.27
Total Shareholders Funds      3.87      3.20      3.24      3.07      2.77
Secured Loans      17.24      15.29      15.83      15.77      6.81
Unsecured Loans      5.88      5.92      9.40      3.10      2.88
Total Debt      23.12      21.21      25.23      18.87      9.69
Total Liabilities      26.99      24.41      28.47      21.94      12.46
Gross Block      2.51      2.51      2.42      0.54      0.43
Less: Accum. Depreciation      1.36      1.11      0.74      0.29      0.25
Net Block      1.15      1.40      1.68      0.25      0.18
Capital Work in Progress      0.00      0.00      0.00      0.36      0.00
Investments      0.38      0.38      0.38      0.17      0.00
Inventories      1.15      3.36      3.32      8.15      5.34
Sundry Debtors      37.91      40.42      34.36      38.20      37.64
Cash and Bank Balance      1.07      1.05      1.01      1.01      1.80
Loans and Advances      2.99      2.82      5.05      5.30      3.62
Current Liabilities      16.96      24.69      17.18      31.21      35.91
Provisions      0.70      0.31      0.16      0.29      0.20
Net Current Assets      25.46      22.65      26.40      21.16      12.29
Miscellaneous Expenses not w/o      0.00      0.00      0.00      0.00      0.00
Total Assets      26.99      24.43      28.46      21.94      12.47
Contingent Liabilities      0.34      0.38      0.32      0.32      0.32
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4. Prabhakaran Kuppusamy  Jul 31, 2017 6:17:04 PM IST I Like It. | Report Abuse Reply
Top Contributor Top Contributor (300+ Posts, 200+ Likes)
Capital History
Year      Equity Capital       Remarks
201705      4.615385        Loan Conversion
201703      3        Bonus Issue
201212      0.5        Loan Conversion
201003      0.1        Bonus Issue
200805      0.01        Subscriber to MOA
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3. SecTheta  Jul 31, 2017 11:03:57 AM IST I Like It. 7 | Report Abuse Reply
Loss in business last to last year and suddenly huge profit in last year (For IPO purpose only?)....
A BIG AVOID....Shame on Pantomath for bringing such companies to the market to trap innocent retail investors.
My Recommendation => STAY AWAY! Lots of better opportunities are in pipeline.
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2. LoneRanger  Jul 31, 2017 9:45:46 AM IST I Like It. 1 | Report Abuse Reply
Top Contributor Top Contributor (200+ Posts, 100+ Likes)
Looks a clear avoid to me.
Loss making company. Made a loss in FY16 and suddenly showing a good profit this Year.
Books seems to be cooked for IPO. Avoid
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