Subscribe to Claris Lifesciences IPO: Angel Broking
Claris has grown at strong pace with net sales increasing at CAGR of 26.9% & net profit of 65.6%.
By ET Bureau |
MUMBAI: Angel Broking has advised investors to ‘Subscribe’ to the initial public offering of Claris Lifesciences.
“In the past, Claris has grown at a strong pace with net sales increasing at a CAGR of 26.9% and net profit posting a strong CAGR of 65.6% over CY2005-09.
The traction in net sales came on the back of strong exports, which also boosted overall operating margins. At the upper end of price band, the IPO is available at 2.5x EV/Sales and 14.4x earnings CY2009.
We recommend ‘Subscribe’ to the issue given the niche product portfolio and potential to expand in regulated (Europe) and emerging markets,” the report said.
The company has entered the primary markets by offering shares in the price band of Rs 278-293 per share.
The proceeds will be used for setting up a new plant comprising small-volume parenteral line, a PVC bag line, a non-PVC bag line, and a fat emulsion line, setting up a new manufacturing line for propofol and other fat emulsion products at the existing plant, Clarion IV; construction of a facility for research and development at Clarion manufacturing facilities and pre-payment of loan.
The issue closes Friday.
“In the past, Claris has grown at a strong pace with net sales increasing at a CAGR of 26.9% and net profit posting a strong CAGR of 65.6% over CY2005-09.
The traction in net sales came on the back of strong exports, which also boosted overall operating margins. At the upper end of price band, the IPO is available at 2.5x EV/Sales and 14.4x earnings CY2009.
We recommend ‘Subscribe’ to the issue given the niche product portfolio and potential to expand in regulated (Europe) and emerging markets,” the report said.
The company has entered the primary markets by offering shares in the price band of Rs 278-293 per share.
The proceeds will be used for setting up a new plant comprising small-volume parenteral line, a PVC bag line, a non-PVC bag line, and a fat emulsion line, setting up a new manufacturing line for propofol and other fat emulsion products at the existing plant, Clarion IV; construction of a facility for research and development at Clarion manufacturing facilities and pre-payment of loan.
ADVERTISEMENT
The issue closes Friday.
Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
Related Articles
Claris Lifesciences shares to delist on March 22ADVERTISEMENT
