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21 August 2023

Concord Biotech Limited IPO: Pioneering Biopharma Excellence

Introduction:

Incorporated in 1984, Concord Biotech Limited stands as a distinguished R&D-driven biopharmaceutical company with a global footprint. Specialising in fermentation-based Active Pharmaceutical Ingredients (APIs) across immunosuppressants and oncology, the company has positioned itself as a leading developer and manufacturer in these therapeutic areas.

Global Presence and Reach:

Concord Biotech operates on a global scale, serving over 70 countries, including significant markets like the USA, Europe, India, and Japan. Its comprehensive product range, developed through fermentation and semi-synthetic processes, has garnered international recognition.

Diverse Therapeutic Offerings:

The company's portfolio encompasses diverse therapeutic segments, including immunosuppressants, anti-bacterial agents, oncology treatments, antifungals, and more. Over the years, Concord Biotech has demonstrated its prowess by evolving from a single-product entity to a versatile solution provider.

Wide-Spectrum Solutions:

Founded as a single-product entity, Concord Biotech has evolved over the years to become a wide-spectrum solution provider. Its specialization in fermentation and semi-synthetic-based products has garnered global attention, making it a preferred choice among customers.

IPO Insights:

Concord Biotech is poised to embark on its Initial Public Offering (IPO), a significant step in its journey. With an issue size of Rs. 1,551.00 Crores, the IPO price ranges from Rs. 705 to Rs. 741 per share. Investors can anticipate the listing on both BSE and NSE exchanges.

Financial Snapshot

The financial performance of Concord Biotech showcases its consistent growth and financial stability:

Financial Year Ended	Assets (₹ Lakhs)	Revenue (₹ Lakhs)	Profit After Tax (₹ Lakhs)	Net Worth (₹ Lakhs)
31-Mar-21	1,182.55	630.75	234.89	999.37
31-Mar-22	1,312.80	736.35	174.93	1,103.22
31-Mar-23	1,513.98	888.48	240.08	1,290.00

Expert Assessment:

Concord Biotech, an Indian biopharma major, showcases remarkable niche products and consistent top-line growth. Though the bottom line faced a setback in FY22, the IPO appears to be fully priced, considering its financial performance in FY23. Investors seeking medium to long-term rewards might find this IPO appealing.

Conclusion:

Concord Biotech's IPO represents an opportunity for investors to engage with a pioneering biopharmaceutical company that has secured a strong foothold in immunosuppressants and oncology. As the company charts its growth trajectory, prospective investors can delve into the comprehensive insights presented above to make informed investment choices.

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