November 7, 2023 - November 9, 2023

Sunrest Lifescience IPO Review & Recommendations

Dilip Davda has given "May Apply" recommendation to Sunrest Lifescience IPO.

Sunrest Lifescience IPO Review Summary from brokers and analysts

Review By	Apply	May Apply	Neutral	Avoid	Not Rated
Count	0	1	0	0	0
%	0.00	100.00	0.00	0.00	0.00

Sunrest Lifescience IPO Analysis By Brokers/Analysts

Reviewer	Recommendation	Past Reviews
Dilip Davda	May Apply

Sunrest Lifescience IPO Review by Dilip Davda (May apply)

[Dilip Davda] The company operates on third party contract model of pharma business. It marked inconsistency in its top lines for the reported periods and sudden surge in bottom lines for the last 15 months’ performance that raises concern over the sustainability. Based on annualized FY24 super earnings, the issue appears fully priced. The small equity post-IPO indicates longer duration for migration to mainboard. Well-informed/cash surplus investors may park funds for the long-term rewards. Read detail review...

Sunrest Lifescience IPO Peer Comparison

Sunrest Lifescience Limited peer comparison with similar listed entities. (Standalone) (As on March 31, 2023)

Company Name	EPS (Rs)		NAV (per share) (Rs)	P/E (x)	RoNW (%)
Company Name	EPS Basic	EPS Diluted	NAV (per share) (Rs)	P/E (x)	RoNW (%)
Sunrest Lifescience Limited	6.81	6.81	10.38	12.33	5.28
Vaishali Pharma Limited	6.26	3.82	38.43	21.54	16.29
Chandra Bhagat Pharma Limited	1.54	1.06	36.42	69.55	4.23

Notes:

(i) Considering the nature, range of products/services, turnover, and size of the business of the Company, the peers are not strictly comparable. However, the above Companies have been included for broad comparison.

(ii) The figures for Sunrest Lifescience Limited are based on the Restated Financial Information for the year ended March 31, 2023.

(iv) Financial information for listed peers mentioned above is sourced from the annual reports as available of the respective peers for the year ended March 31, 2023, submitted to Stock Exchanges.

(v) NAV is computed as the closing net worth divided by the closing outstanding number of equity shares. Net worth has been computed as the aggregate of share capital and other equity (excluding Revaluation Reserves, if any) and as attributable to the owners of the Company.

(vi) The P/E Ratio has been computed based on the closing market price of equity shares on the stock exchange divided by the Basic EPS as of March 31, 2023.

(vii) RoNW is computed as net profit after tax, as attributable to the owners of the Company divided by closing net worth. Net worth has been computed as the aggregate of share capital and other equity (excluding Revaluation Reserves, if any) and as attributable to the owners of the Company.

(viii) Sunrest Lifescience Limited is a Fixed Price Issue.

(ix) The Issue Price has been determined by the company in consultation with the LM based on an assessment of market demand from investors for the equity shares and is justified based on the above qualitative and quantitative parameters.

Sunrest Lifescience IPO Review by Members

Sunrest Lifescience IPO Reviews, analysis and views by popular members. Read Sunrest Lifescience Limited IPO reviews by retail investors to find recommended ipo to buy.

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Sunrest Lifescience IPO Review Summary by Members

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