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RATING
RECOMMENDATION
Strong Buy
Martin & Harris Pre IPO Essentials
Discover and get complete analysis on
Martin & Harris Laboratories upcoming IPO
unlisted shares - Management, Business Model, Financials, Growth, Valuations,
Funding Rounds, News and latest updates.
ISIN
INE03VV01015
Face Value
₹10.00
Total Share
3996040
Total Income
₹296.67 Crores
Profile After Tax
₹69.11 Crores
EPS
₹172.96
Book Value
₹278.45 Crores
Sector
Health Care
Sub-sector
Pharmaceuticals
Category
Pre IPO
Cashflow - Operations
₹10.13 Crores
Cashflow - Financing
₹32.87 Crores
Martin & Harris Growth
Compounded Sales Growth
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2.34%
1 Year
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29.33%
2 Year
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29.35%
3 Year
Compounded Profit Growth
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-4.60%
1 Year
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7.86%
2 Year
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33.62%
3 Year
Return On Equity
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23.63%
1 Year
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32.92%
2 Year
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38.99%
3 Year
About Martin & Harris
- Martin & Harris Laboratories Ltd incorporated in 1996 at Gurgaon, Haryana is a part of “Apeejay Group”, India’s oldest and largest business conglomerates.
- Martin & Harris Laboratories Ltd is engaged in the manufacturing of Pharmaceutical, medicinal chemical & botanical products. Besides the core business, it has undertaken the management of its funds through investment in different avenues fetching good returns i.e., mutual funds, equity –quoted & unquoted, etc.
- The company has its units located at Roorkee and UNA Himachal Pradesh
- Its authorized share capital is ₹ 500,000 and its paid-up capital is ₹ 207,600.
- Martin & Harris is majorly in the manufacturing (Metals & Chemicals, and products thereof) business for the last 41 years and currently, company operations are active.
Martin & Harris Product & Services
Martin & Harris Industry Overview
Industry Statistics
- In FY2020, the pharmaceutical sales grew 9% y-o-y to ₹ 10,342 Cr. India contributes the second-largest share of the pharmaceutical and biotech workforce in the world. In FY2020, the pharmaceutical sales grew 9% y-o-y to ₹ 10,342 Cr. India contributes the second largest share of the pharmaceutical and biotech workforce in the world.
- Indian pharmaceutical sector supplies over 50% of the global demand for various vaccines, 40% of the generic demand for the US, and 25% of all medicines for the UK.
- During December 2019, on a moving annual total (MAT) basis, industry growth was at 9.8%, with price growth at 5.3%, new product growth at 2.7%, while volume growth at 2% y-o-y.
- Medicine spending in India is projected to grow 9-12% over the next five years, leading India to become one of the top 10 countries in terms of medical spending.
- India's biotechnology industry comprising biopharmaceuticals, bio-services, bio-agriculture, bio-industry, and bioinformatics is expected to grow at an average growth rate of around 30% a y-o-y
- to reach ₹ 7,24,800 Cr by 2025.
- Indian pharmaceutical sector is expected to grow to ₹ 7,24,800 Cr, while the medical device market is expected to grow by ₹ 1,81,200 in 2025. Pharmaceuticals exports from India stood at ₹1,500,54 Cr in FY20. Pharmaceutical export includes bulk drugs,
- intermediates, drug formulations, biologicals, Ayush and herbal products and surgical.
Government Initiatives
- Pharma Vision 2020’ by the Government’s Department of Pharmaceuticals aims to make India a major hub for end-to-end drug discovery. The sector received cumulative Foreign Direct Investment (FDI) worth ₹ 1,19,898 Cr between April 2000 and June 2020.
- Under Union budget 2020-21, allocation to the Ministry of Health and Family Welfare stands at ₹ 65,012 crores, whereas, ₹ 6,429 crores have been allocated to the health insurance scheme, Ayushman Bharat – Pradhan Mantri Jan Arogya Yojana (ABPMJAY).
Martin & Harris Strengths
- Martin & Harris enjoys a High EBITDA & PAT margin compared to its listed peers.
- Martin & Harris also depicts high CAGR growth in total income compared to peers over the period of 4 years.
- Debt/ Equity ratio is the lowest and the Asset Turnover ratio is higher compared to peers.
- The company’s EBITDA has been increasing at a CAGR of 30.9% from 2017 to 2020.
- Martin & Harris Laboratories Ltd. has a higher ROCE Ratio. The company’s ROCE Ratio is 34.2% if compared to Industry Average ROCE is 21.4%.
- The company’s Operating profit has been increasing at a CAGR of 30.2% from 2017 to 2020.
Martin & Harris Shortcomings
- The company’s Cash Flow from Operations has been decreasing at a CAGR of -208.4 % from 2017 to 2020.
- In the year 2020, the company has recorded negative growth of 4.6% in Profit after tax resulting in ₹ 69 Cr as against ₹ 72 Cr in FY20
Martin & Harris Opportunities
- The COVID-19 pandemic had a moderate to high impact on the global clinical laboratory services market.
- Increasing cases of COVID-19 infected patients across the globe has led to a rise in clinical chemistry services, especially in the specialized chemistry testing segment. Laboratory testing and pharma demands have increased significantly and continue to grow at a staggering rate to keep pace with suspected cases of COVID-19, thus boosting the market revenue.
Martin & Harris Threats
- Threats include several factors, such as new generic products that arrive in the market, new regulations, new trade barriers, changes to health insurance regulation, and even the lack of availability of qualified staff.
Martin & Harris Rating
-
RECOMMENDATION
Strong Buy
Martin & Harris Detail Info
Industry Statistics
PRIVATE LIMITED
Registered In
India
last Updated
25/03/2021
Registered Date
22/07/1993
Stock Exchange Ticker
M&H
Reg Office: NH-8, Delhi Jaipur Highway, Village, Pachgaon (Fazalwas), Distt. Gurgaon, Haryana
Website: None
- Martin and Harris Laboratories
- PLACE ORDER
- ROFR Required
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Available in Depository
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NSDL
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CSDL
Available for Investment
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Primary
-
Secondary
Investment Checklist
Management
Trustworthy
Accounting Practice
Clean
Profitability
Below Expectations
Solvency
Below Expectations
Growth
Exceed Expectations
Valuation
Highly Undervalued
Business Type
Emerging Leader