Home >> Blog >> Clinitech Laboratory Ltd IPO: Review, Valuation, Date & GMP
Clinitech Laboratory Ltd IPO: Review, Valuation, Date & GMP
![Clinitech Laboratory Limited-IPO](../admin/media/Clinitech-Laboratory-IPO.webp)
Table of Contents
- Clinitech Laboratory Limited IPO - Complete Overview
- Clinitech Laboratory Limited IPO Overview
- Company Financial
- The Objective Of The Issue
- Peers of Clinitech Laboratory Limited
- Evaluation
- IPO's Strengths
- IPO’s Weaknesses
- IPO GMP Today
- Promoters And Management Of Clinitech Laboratory Limited IPO
- Clinitech Laboratory Limited IPO Lead Managers
- Dividend Policy
- Conclusion
Clinitech Laboratory Limited IPO - Complete Overview
Clinitech Laboratory Limited IPO is an SME fixed price issue of Rs.5.78 crores by Clinitech Laboratory Limited that was established in 1990 and provides diagnostic and health testing services. The company conducts over 150 tests in its centers, which are grouped into six categories: biochemical tests, immunology tests, hematology tests, molecular biology tests, serology tests, microbiology tests, and histopathology exams.
Clinitech Laboratory operates eight testing centers throughout Thane and Navi Mumbai. Each year, the organization conducts over 3 lakh tests in its NABL (National Accreditation Board for Testing and Calibration Facilities) accredited facilities, which are outfitted with cutting-edge technology and high-quality equipment. The company's medical testing facilities at Airoli, Navi Mumbai, have been approved by NABL under ISO 15189:2012.
As of May 31, 2024, the company employed 85 staff in various departments.
Dear readers, we are pleased to provide details about the approaching IPO. The company plans to launch its IPO on July 25, 2024. Let's take a closer look at the IPO's offerings below.
Clinitech Laboratory Limited IPO Overview
Clinitech Laboratory's IPO of Rs.5.78 crore comprises a wholly Fresh Issue of 6.02 lac Shares (amounting to Rs.5.78 crores) out of which 50% is allocated to retail investors and 50% to others.
The IPO will be available to investors on July 25, 2024, and conclude on July 29, 2024. The anticipated listing date for the IPO is Thursday, August 1, 2024, and will be held on the BSE and SME. The price range of each Share is Rs.96.
If you want to apply for the IPO, Click Here to Open a Demat Account.
Company Financial
The company's revenue increased by 1.19%, while profit after tax (PAT) decreased by 39.46% during the financial years ending March 31, 2024, and March 31, 2023.
Below is the synopsis of the company's financial data for the financial year ending March 31, 2024.
-
The total revenue of the company is Rs.643.92 lac.
-
The net worth of the company is Rs.354.80 lac.
-
The company's EBITDA is Rs.101.66 lac.
-
The total assets of the company are Rs.560.79 lac.
(Amount in lac)
Period |
31 Mar 2024 |
31 Mar 2023 |
31 Mar 2022 |
Total Assets |
560.79 |
603.33 |
368.74 |
Total Revenue |
643.92 |
636.34 |
645.70 |
PAT |
37.12 |
61.31 |
51.26 |
Net Worth |
354.80 |
238.08 |
184.81 |
Reserve & Surplus |
186.80 |
88.08 |
34.81 |
Borrowing |
86.31 |
102.91 |
88.61 |
Revenue Bifurcation
Below is the revenue breakdown for various activities:
(Amount in lac)
Net Cash Flow In Multiple Activities |
FY 2024 |
FY 2023 |
FY 2022 |
Net Cash Flow Operating Activities |
11.25 |
124.72 |
95.60 |
Net Cash Flow Investing Activities |
-63.99 |
-65.32 |
-146.56 |
Net Cash Flow Financing Activities |
44.56 |
8.56 |
29.32 |
Test-wise Revenue Breakdown For The Last Three FYs
Customer-wise Revenue Breakdown
The Objective Of The Issue
The company desires to use the Net Proceeds from the Issue to fulfill its following goals:
-
Expanding diagnostic centers.
-
Corporate Purposes.
Peers of Clinitech Laboratory Limited
(Figures as of March 31, 2024)
Company Name |
Face Value (Rs.) |
EPS (Rs.) |
P/E (x) |
Dr Lalpath Labs |
10 |
43.05 |
67.92 |
Thyrocare Technologies Ltd |
10 |
13.42 |
47.56 |
Krsnaa Diagnostics Limited |
5 |
17.90 |
38.42 |
Evaluation
The price of this IPO is Rs.96 for each Share.
Evaluation Of P/E Ratio
Considering the Fiscal 2024, with EPS of Rs.2.37 from the last year, the resulting P/E ratio is 40.50x.
Considering the weighted EPS of Rs.5.18 for the last three years, the P/E ratio is 18.53x.
Comparative Analysis With Listed Peers
The average P/E Ratio of the industry is 57.74x.
Particulars |
P/E Ratio |
Highest |
67.92 |
Lowest |
38.42 |
Average |
57.74 |
In simple words, the P/E ratio of Clinitech Laboratory Limited-IPO (40.50x and 18.53x), compared with the industry’s average P/E of 57.74x, has an undervaluation. Hence the price of the Share seems fairly priced for the investors when considered based on the average P/E ratio of the industry.
IPO's Strengths
-
NABL Accreditation
-
Diagnostic Centers.
-
Skilled marketer and leadership team with extensive industry understanding and a proven track record
-
Strong and long-term consumer ties.
IPO’s Weaknesses
-
The company had negative cash flows in previous years. Future negative cash flows could negatively impact its business, operations, and prospects.
-
Its operations are focused in Thane and Navi Mumbai, therefore any loss of business in these areas could negatively impact its business, earnings, and financial condition.
-
Interest rate swings may negatively impact its operations, scheduled expenditures, and cash flows.
-
The company relies on third-party providers for testing equipment and reagents, and any disruptions or recalls could harm its business, operations, and finances.
-
Failure or failure of the machinery could compromise their ability to operate their activities.
IPO GMP Today
Clinitech Laboratory Limited IPO’s latest GMP has not started yet.
Clinitech Laboratory Limited IPO Timetable (Tentative)
The IPO is scheduled from July 25 to July 29, 2024, with allotment on July 30, refund initiation on July 31, and listing on August 1, 2024.
Events |
Date |
IPO Opening Date |
July 25, 2024 |
IPO Closing Date |
July 29, 2024 |
IPO Allotment Date |
July 30, 2024 |
Refund Initiation |
July 31, 2024 |
IPO Listing Date |
August 1, 2024 |
Clinitech Laboratory Limited IPO Details
The IPO with a Face Value of Rs.10 per Share is set to start on July 25, close on 29 July, and offer a total issue size of 602,400 shares (aggregating up to Rs.5.78 Cr) comprising a whole fresh issue size of 602,400 shares (aggregating up to Rs.5.78 Cr).
IPO Opening & Closing date |
July 25, 2024 to July 29, 2024 |
Face Value |
Rs.10 per Share |
Issue Size |
602,400 shares (aggregating up to Rs.5.78 Cr). |
Offer For Sale |
NA |
Fresh Issue |
602,400 shares (aggregating up to Rs.5.78 Cr). |
Listing At |
BSE, SME |
Issue Type |
Fixed Price Issue IPO |
Registrar |
Bigshare Services Pvt Ltd |
Clinitech Laboratory Limited IPO Lot Details
The IPO allows retail investors to invest in a minimum and maximum of 1 Lot (1200 Shares) amounting to Rs.115200 and in multiples thereof, while for HNI investors, the minimum Lot is 2 (2400 Shares) amounting to Rs.230400.
Minimum Lot Investment (Retail) |
1 Lot |
Maximum Lot Investment (Retail) |
1 Lot |
HNI (Min) |
2 Lots |
Clinitech Laboratory Limited IPO Reservation
Retail Portion |
50% |
Other Portion |
50% |
Promoters And Management Of Clinitech Laboratory Limited IPO
-
Jagdish Umakant Nayak
-
Jyoti Jagdish Nayak
-
Ashutosh Jagdish Nayak
Pre-Issue Promoter Shareholding |
83.63% |
Post-Issue Promoter Shareholding |
61.56% |
Clinitech Laboratory Limited IPO Lead Managers
-
Inventure Merchant Banker Services Pvt Ltd
Dividend Policy
The company has no formal dividend policy.
Conclusion
The company has experienced negative cash flow in investing activities throughout the last few fiscal years. To achieve its goals, the company is currently launching an IPO for the general public.
We believe the information offered in this blog helps you learn about the company's financial performance. So this blog will be very useful to you if you are looking for information about the approaching IPO since it will give you reliable information about the company's, insights, financials, and past performance. If this informative blog piques your interest, you may be interested in reading our other related and useful posts on our website.
Finowings IPO Analysis
Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO.
You must consult your financial advisor before making any financial decisions.
To Apply for the IPO, Click Here.
To Read the Prospectus of the Company Click Here to Download the DRHP.
We believe this blog would be very beneficial to you if you are looking for such information related to this upcoming IPO since this blog would provide you with accurate information about the company's, insights, financials, and past performance. If this informative blog matches your interest, you might be interested in reading our other related useful blogs on our website.
Disclaimer: This IPO analysis is only for informational purposes and should not be considered as investment advice. Always do your research and consult with a financial advisor.
Want to start Your Journey in stock market trading and investment? Join our Stock Market Class to become beginner to expert trader! We cover everything from the basics of trading to advanced strategies for picking stocks. Plus, we're offering a special discount for women and students. Don't miss out - enroll now and kickstart your path to success in the stock market!
Open a world of Stock Market by Opening a Demat Account with your favourite Broking firm & Get a trading Strategy worth Rs.15,000!
Click here to open a Free Demat Account & Start Investing Now
Thank You for reading this blog.
Hope you loved the IPO analysis.
Please Comment Below with your feedback because Your feedback motivates us to deliver more such content.
Follow MUKUL AGRAWAL for the latest IPO news and reviews. You can connect with us on social media platforms like Twitter, Facebook, and Instagram. You can also subscribe to our YouTube Channel for the latest videos of the stock market.
Frequently Asked Questions
The IPO will start accepting applications on July 25, 2024.
This IPO is valued at Rs.96 for each offer.
The IPO's total issue size is 602,400 shares (aggregating up to Rs.5.78 Cr).
The IPO closing date is July 29, 2024.
The money from the IPO is to be used to fund the expanding diagnostic centers and Corporate Purposes.