AP
ClosedSMEPharmaceuticals · Pharmaceutical Manufacturing
Accretion Pharmaceuticals Limited
ACCPL·₹96 – ₹101·Opens 2025-05-14
★★★★☆4/5
🔗 Official WebsitePrice Band: ₹96 – ₹101
Min. Investment: 121200
Issue Size: 297.55
About the Company
What does this company do?
Accretion Pharmaceuticals Limited is a pharmaceutical manufacturing company established in 2012 as a partnership firm and converted to a limited company in 2023. The company manufactures and provides healthcare products with a focus on international quality standards at competitive prices. Manufacturing facility is loc…
IPO Details
Issue parameters, key dates and structure.
Total Issue Size
297.55
2946000
Fresh Issue
297.55
2946000
Proceeds go to company
OFS
0
0
Proceeds to selling shareholders
Reservation Structure
QIB (Qualified Institutional Buyers)
50
1398400
Includes Anchor Investor portion up to 60% on discretionary basis
NII / HNI (Non-Institutional Investors)
15
419160
Minimum 15% of Net Issue
RII (Retail Individual Investors)
35
976440
Minimum 35% of Net Issue
Market Maker Reservation
5.26
147600
Reserved portion for market maker
Products & Brands
Key offerings and brand portfolio of the company.
Pharmaceutical Products: Healthcare products manufactured with focus on international quality standards
Financial Performance
P&L, Balance Sheet and Cash Flow — all figures in ₹ Crores.
| Particulars (₹ Cr) | 9M FY2024-25 (Apr-Dec 2024) | FY2023-24 | FY2022-23 | FY2021-22 |
|---|---|---|---|---|
| Revenue from Operations | 3566.73 | 3366.52 | 2938.43 | 2229.20 |
| Other Income | 8.20 | 27.34 | 14.72 | 29.22 |
| EBITDA | 776.45 | 661.86 | 106.22 | 182.70 |
| EBITDA Margin | 21.8% | 19.7% | 3.6% | 8.2% |
| Depreciation & Amortisation | 57.35 | 84.73 | 92.33 | 81.04 |
| EBIT | 719.10 | 577.13 | 13.89 | 101.66 |
| Finance Costs (Interest) | 106.39 | 115.38 | 107.64 | 101.66 |
| PBT (Profit Before Tax) | 718.71 | 576.17 | 13.88 | 10.40 |
| Tax | 195.16 | 188.64 | 3.49 | 2.50 |
| PAT (Net Profit) | 523.55 | 387.53 | 10.39 | 7.90 |
| PAT Margin | 14.7% | 11.5% | 0.4% | 0.4% |
| EPS — Basic (₹) | 8.74 | 9.69 | 0.26 | 0.20 |
| EPS — Diluted (₹) | 8.74 | 9.69 | 0.26 | 0.20 |
All figures in ₹ Crores (INR). Data sourced from DRHP/RHP.
Key Financial Ratios
Valuation and profitability metrics at the IPO price.
EPS — Basic (₹)
8.74
9M FY2024-25
EPS — Diluted (₹)
8.74
9M FY2024-25
P/E Ratio
11.56
At upper band (101/8.74)
RoNW (%)
38.56
9M FY2024-25 annualized (523.55*1.33/1358.31)
NAV per Share (₹)
17.09
Pre-issue (1358.31 Cr / 7934000 shares)
Debt/Equity
1.02
FY2024-25 (1378.98/1358.31)
EBITDA Margin (%)
21.75
9M FY2024-25 (776.45/3574.93)
PAT Margin (%)
14.64
9M FY2024-25 (523.55/3574.93)
Revenue CAGR
25.65
3-yr FY22-FY25 9M
Objectives of the Issue
How the company intends to use the IPO proceeds.
⚠
Plant, machinery, building and equipment
1
Repayment of borrowings from promoters
2
For operational requirements
SWOT Analysis
Internal strengths & weaknesses; external opportunities & threats.
💪Strengths
Established manufacturing operations with modern facility
Strong revenue growth trajectory and improving profitability
Experienced promoter team with domain expertise
Competitive pricing and quality focus
⚠️Weaknesses
First time public issue with no trading history
Limited market presence relative to larger competitors
High debt to equity ratio (1.02)
Litigation issues involving promoters
🚀Opportunities
Growing Indian pharmaceutical market demand
Expansion into new product categories
Domestic and export market growth potential
Operational efficiency improvements
🔥Threats
Intense competition in pharmaceutical sector
Regulatory changes and compliance requirements
Price controls on pharmaceutical products
Supply chain disruptions
Competitive Strengths
Key advantages highlighted in the DRHP.
✓
Established pharmaceutical manufacturing operations since 2014 with modern manufacturing facility in Ahmedabad
✓
Strong financial performance with revenue growth and improving profitability
✓
Experienced promoter team with expertise in pharmaceutical manufacturing
✓
Quality-focused approach with international standards compliance
✓
Growing domestic market presence with expanding product portfolio
Promoters & Shareholding
Pre & post-IPO shareholding pattern. Click a promoter card to learn more.
Promoters
Shareholding Pattern
10073.50
026.50
PrePost
Key Risks
Material risk factors to consider before applying.
⚠
First public issue with no prior market history for equity shares
⚠
Regulatory risks related to pharmaceutical manufacturing and approvals
⚠
Child labour litigation involving two promoters pending in courts
⚠
Competitive pharmaceutical market with pricing pressures
⚠
Dependence on regulatory compliance and licensing
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Should You Apply?
Accretion Pharmaceuticals Limited is an established pharmaceutical manufacturer with operations since 2014, offering an IPO on NSE EMERGE platform at ₹96-101 price band. The company demonstrates strong financial growth with 25.65% revenue CAGR over three years, improving profitability (PAT margin 14.64%), and solid EBITDA margins of 21.75%. At the upper price band of ₹101, the P/E of 11.56x is attractive for a growing pharmaceutical company, though investors should note the high debt-to-equity ratio of 1.02 and pending litigation involving promoters related to child labour allegations.
⚠️ This is not investment advice. CheckIPO provides information for educational purposes only. Always consult a SEBI-registered financial advisor before investing.
IPO Timeline
Key milestones from opening to listing.
📅
IPO Opens
2025-05-14
🔒
IPO Closes
2025-05-16
🏛️
Listing
2025-05-21
Lead Managers & Registrar
Institutions managing the issue and handling allotment.
Book Running Lead Managers (1)
Jawa Capital Services
Registrar to the Issue
📋
Kfin Technologies Limited
Registrar to the Issue
Company Details
Registered information and contact details.
Company Name
Accretion Pharmaceuticals Limited
CIN
U21004GJ2023PLC146545
Registered Office
29 Xcelon Ind Park 1, B/h, Intas Pharmaceuticals, Vasna Chacharvadi, Ahmedabad, Sanand, Gujarat, India, 382213
Contact Person
Ms. Bhavika Dhaval Makadia
Phone
+91-97148 82929