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IPO Review - Ami Organics Ltd - ICICI Direct

Posted On: 2021-09-01 12:16:56 (Time Zone: UTC)


Incorporated in 2004, Ami Organics is a research and development (R&D) driven manufacturer of specialty chemicals with varied end usage, focused on the development and manufacture of advanced pharmaceutical intermediates (pharma intermediates) for regulated and generic active pharmaceutical ingredients (APIs) and new chemical entities (NCE) and key starting material for agrochemical and fine chemicals, especially from recent acquisition of the business of Gujarat Organics Ltd. It is one of the major manufacturers of pharma intermediates for certain key APIs, including Dolutegravir, Trazodone, Entacapone, Nintedanib and Rivaroxaban. It has three manufacturing units at Sachin, Ankleshwar and Jhagadia.

Investment Rationale

Diversification of product portfolio by strengthening R&D capabilities

The company intends to invest in development of products, which are used in manufacture of APIs being used in formulations whose patents are expiring, which would lead to increase in demand for pharma intermediates for such APIs. Additionally, recent acquisition of GOL's business has now enabled it to manufacture certain products that are manufactured by the company in India like PHBA, Paraben derivatives and Cyano phenol.

Diversification of business by focusing on organic, inorganic growth opportunities

Ami Organics intends to pursue strategic acquisitions and partnerships to complement organic growth and internal expertise. The company also intends to develop internal capacities and production abilities to achieve intended levels of organic growth. It believes that by pursuing strategic acquisitions including the recently concluded acquisition of the business of GOL, it will add to capabilities and technical expertise or enter into partnerships to strengthen product infrastructure and overall manufacturing capabilities in the specialty chemicals sector. The company may, in future, use some of the land area available (that is currently at 15,830.00 square metre, in Jhagadia facility to explore brownfield expansion opportunities.

For details, click on the link below: Link to the report


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