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Issue Highlights
Nureca Limited is engaged in home healthcare and wellness products, and is all set to hit the primary market, with a goal of raising INR 100 crores, which is 100% fresh issue.
The issue includes a reservation of up to INR 5,00,000 worth of equity shares (1,250 equity shares) for subscription by eligible employees
Issue Details
Strengths
- Diversified product portfolio across home healthcare industry
- Well-recognized brand with a targeted marketing strategy
- Wide sales and distribution network
- Experienced promoters with strong management team
- Proven track record of robust financial performance
Valuation
The company reported its EPS at 9.45 for the year ending March 2020, bringing the IPO valuation to a P/E of 42.3 at upper price band, against sector PE of 50.56.
We recommend to apply for the issue on the basis of its strong financials and high prospects of the industry growth.
ISSUE BREAK-UP
Utilization of Funds
Background highlights of the company in brief
Nureca Ltd. is a B2C company engaged in the business of home healthcare and wellness products
The company’s product portfolio includes:
- Chronic Device Products (blood pressure monitors, pulse oximeters, thermometers, nebulizers, self-monitoring glucose devices, humidifier and steamers)
- Orthopedic Products (wheelchairs, walkers, lumbar and tailbone supports, and physiotherapy electric massagers)
- Mother and Child Products (breast pumps, bottle sterilizers, bottle warmers, car seats and baby carry cots)
- Nutrition Supplements (fish oil, multivitamins, probiotics, biotin, apple cider and vinegar)
- Lifestyle Products (smart scales, aroma diffusers and fitness tracker)
The company markets and sells its products across India through its own website i.e. drtrust.in and third party e-commerce platforms, distributors and retailers. It also undertakes direct promotional initiatives like advertising our products through digital marketing.
During the lockdown, the company’s business and operations have continued to run effectively due to the general awareness about the healthcare products in which the company operates pursuant to COVID-19.
Though the business has been affected during the initial days of lockdown, the company has not faced any material impact on its business.
During the period after June 30, 2020, two companies namely, Nureca Technologies Private Limited and Nureca Healthcare Private Limited were incorporated as wholly owned subsidiaries of Nureca.
The company’s revenue from operations on a consolidated basis was INR 99.43 Crs, INR 61.89 Crs and INR 20.05 Crs for Fiscal 2020, 2019 and 2018, respectively. For the six months period ended September 30, 2020 it was INR 122.14 Crs.
The company’s revenue and profit margins are directly impacted by its sales volume of its products and by demand of the same. Majority of the revenue from operations is from sales of the company’s healthcare products.
Briefing about directors & key managerial personnel
Briefing Financials
Balance Sheet
Statement of Profit and Loss
Key Ratios
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