Mono Pharmacare Limited IPO Message Board (Page 3)

Mono pharma

@sahab copy from a paper.

Good information for
Making my decision

Same LM as Sangani Hospital, Sahana Systems, MoS Utility
Company is in the business of distribution of pharmaceutical, nutraceutical products
YoY LT and ST borrowings up to Rs 40 cr from 5.5 cr. Funds used to build up inventory of Rs 32.69 cr (previous year Rs 4.7 cr), receivables Rs 21.87 cr (previous year Rs 5.5 cr) and advances to suppliers, Rs 2.04 cr (previous year NIL)
Receivables of Rs 11 cr are more than 6 months, out of total receivables of Rs 21.87 cr
Against sale of Rs 58 cr, company purchased goods worth Rs 80 cr thereby contributing to inventory build up. Wonder what was the management strategy to stockpile inventory.
Horrible cash flow. Cumulative PBT of last 3 fiscal is Rs 2.35 cr while cash generated from operations before tax for the same period is negative Rs 39 cr.
Cost of traded goods has come down from 94% to 91% helping profitability
On page 75 of RHP, as on 31-mar-23, inventory is shown at Rs 15.18 cr and receivables at Rs 8.08 cr.
On page 48 of RHP, as on 31-mar-23, inventory is shown as Rs 32.68 cr and receivables at Rs 21.87 cr.
Fellow boarders can explain how to understand the variance.
Company has disclosed it has 82 employees. In Dec-22, it deposited PF for 42 employees while for Jun-23, it deposited PF for 68 employees
Interest rates on secured loan ranges between 7.10% – 10.75%.Additionally, the interest rate for unsecured loans availed ranges between 11.26% to 20%. Promoter has given an unsecured loan of Rs 12.33 cr to the company
Company has filed litigation against 3 counterparties for recovery of dues, the largest being case filed against Madhav Hiralal Chavda for recovery of Rs 23.92 lacs due to cheque bouncing.

Inventory and receivables on page 48 also include inventory and receivables of two subsidiaries acquired during Jan 2023. Dear @YBPK your reviews are wonderful, please keep them coming

Awsome review Sir, please keep sharing your reviews.

फार्मा कंपनी से दूर रहना ही बेहतर है। लाख का 12000 हो जाएगा। बिग अवॉइड।

I won't apply here. Will see after listing.

Following the rule, I wouldn't buy tommorow in preopen. Will follow the script chart for a while. All the best for good listing.

Big avoid

In Gujarat Samachar 🗞️ Newspaper .. something is written about the company .. Read it.

i have read. good analysis

be alert,,,,, dont burn hand

New trend emerging now - Reputed LMs bringing IPOs which are not in line with their reputation.

Shoora/Shelter/Sangani was thought to be peak of these SMEs amidst boom in broader market. Then arrived Sahaj, but this mono pharma has completely taken the lead of peak moment by a distance. God knows what will happen here.

Many red flags..
Totally avoidable.

I like the Game named "Kho_Kho" .. ✌️

Looks like Gujarat Samachar didn't receive any ads from Mono IPO.

only positive is unistone...but

sarthi has same reputation untill spectrum fiasco ....

Like sarthi unistone made rikhav a partner in crime. Dump on listing

Unistone is following sarthi way.

Unistone's 2nd issue Ratnaveer is also very much unclear.

An individual is recognised by the company he maintains. Unistone has risked it's reputation by accompanying Rikhav 😀

Avoiding seeing the net margins and increasing borrowings.

Pathetic PAT margins at firstsight.

35 crores turnover, 35 lakhs net profi- very poor. LM is good. Other than that, I don't feel anything appealing about the company

Yes, Looks similar to Dipna Pharmaceuticals.

Only Positive is LM.

PE of 40, & May Apply Rating.

Doesn't found any reason to apply this other than LM.

Seems another Shelter type pharma -- No-No Pharma

See shelter price