Amkay Products Limited (BSE SME)

Apr 30, 2024 - May 3, 2024

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Anchor List

Name of Anchor	No. of Shares	% Portion	Amount (cr)
Visionary Value Fund	4,10,000	63.08%	2.26
Meru Investment Fund PCC-Cell 1	2,40,000	36.92%	1.32
Total	650000	100.00%	3.58

IPO Reservation

Investor Category	Shares Offered	No. of Shares
Retail	33.25%	762000
NII (HNI)	14.22%	326000
QIB	18.93%	434000
Anchor	28.35%	650000
Market Maker	5.24%	120000
Total	100.00%	2292000

Founded in October 2007, Amkay Products Limited has emerged as a prominent name in India's healthcare industry, specializing in the production and distribution of an extensive range of medical supplies. Their offerings encompass a diverse portfolio, including medical devices like nebulizers and pulse oximeters, alongside essential disposables such as face masks and alcohol swabs. With a commitment to quality, Amkay's manufacturing facility, situated across two units in Thane, Maharashtra, spans an impressive 26,000 square feet. These facilities are equipped with state-of-the-art machinery, a meticulous testing laboratory, and comprehensive handling equipment, ensuring seamless production processes. Notably, the company's adherence to stringent quality management practices has earned it accreditation under the ISO 9001:2015 standard by QRO Certification LLP. Despite the challenges posed by the dynamic healthcare landscape, Amkay Products Limited remains steadfast in its mission to deliver excellence. As of December 31, 2023, the company proudly employs around 75 dedicated professionals across various organizational levels, underscoring its commitment to fostering a talented workforce. Through its unwavering dedication to innovation, quality, and customer satisfaction, Amkay continues to play a pivotal role in meeting the healthcare needs of institutions nationwide.

Company Financials

Period	Dec 2023	Mar 2023	Mar 2022	Mar 2021
Assets	1,887.52	1,563.77	1,580.64	1,393.47
Revenue	2,385.56	2,825.05	3,679.45	4,071.74
Profit	215.34	151.02	146.71	312.68
Net Worth	986.96	771.62	620.60	473.90
Reserves	350.59	743.95	592.93	446.23
Borrowing	476.22	469.98	433.59	136.54
Amount in ₹ Lakhs

Strength factors

Stringent Quality Assurance: The company's adherence to rigorous quality management practices, accredited under ISO 9001:2015, ensures standardized product quality, instilling confidence in customers and stakeholders alike.

Diversified Revenue Streams: With a presence in multiple geographies, Amkay enjoys diversified revenue streams, mitigating risks associated with market fluctuations and enhancing resilience against economic uncertainties.

Experienced Leadership: Bolstered by an experienced promoter and a seasoned senior management team with a proven track record and deep industry knowledge, Amkay is strategically positioned to navigate challenges and capitalize on emerging opportunities effectively.

Risk Factors

Declining Revenue Trend: Persistent decline in revenue over the past two financial years raises concerns about the company's ability to sustain profitability and maintain market competitiveness amidst evolving industry dynamics and economic challenges.

Historical Negative Cash Flows: Historical instances of negative operating, investing, and financing cash flows indicate potential liquidity constraints and financial instability, posing risks to the company's operational sustainability and capital investment capabilities.

Potential Future Operating Losses: Continued operating losses or negative cash flows in the future could significantly impair Amkay's results of operations and financial condition, hampering its ability to meet debt obligations, invest in growth initiatives, and sustain shareholder value. Such scenarios may also erode investor confidence and hinder the company's access to capital markets for necessary funding.

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