Windlas Biotech shares made a weak debut on the stock exchanges on Monday, 16 August 2021. Windlas Biotech shares started trading at Rs 439, down 4.6% from the IPO price tag of Rs 460 apiece. The initial public offer you of Windlass Biotech, a manufacturer of pharmaceutical formulations, was subscribed 22.46 instances. On the listing, the marketplace capitalisation of the firm stood at Rs 956.77 crore. There are no listed corporations in India that engage in a business enterprise comparable to that of Windlas Biotech.
Ashok Kumar Windlass, Hitesh Windlass, Manoj Kumar Windlass and AKW WBL Family Private Trust, are the promoters of the firm. Windlas Biotech is amongst the top rated 5 players in the domestic pharmaceutical formulations contract development and manufacturing organization (CDMO) sector in India in terms of income.
During FY19-21, the company’s income grew at a CAGR of 17.9% to Rs 427.6 crore, driven by the CDMO (18.6% CAGR to Rs 362 crore), domestic trade generics and OTC (26.9% CAGR to Rs 43.7 crore) and exports (2.1%
CAGR to Rs 19 crore). Over the identical period, the EBITDA grew at a CAGR of 19.2% (to Rs 55 crore) with a 108bps Y-o-Y improvement in EBITDA margins to 12.8%. This margin expansion was driven by far better solution mix and larger capacity utilisations, analysts at Ventura Securities stated an IPO note.
The firm has 4 globally authorized manufacturing and R&D facilities situated at Dehradun, Uttarakhand. The R&D initiatives are directed towards new solution development, attaining price efficiencies and method validation for the manufacture of upcoming patent expired API. Its cumulative manufacturing capability is 7+ billion tablets / capsules and it manufactures more than 3279 goods. WBL has also filed for 11 patent applications, of which two have been granted approval in India.
Windlas has created relationships with top Indian pharmaceutical corporations. Their operational track record in the productive delivery of goods, responsiveness, dosage innovation, complicated generic solution development, top quality and technical requirements, turnaround instances, and productivity has facilitated the strengthening of their client base and helped them in expanding their solution and service offerings as properly as geographic attain.