Profitable but Not Perfect: Corona Remedies IPO

Corona Remedies the present IPO is a profitable pharma bet, but with a catch. It's a fast growing, profitable Indian pharma company focused on women's healthcare, cardio, diabetes and pain management. It holds leading market position and has grown domestic sales almost like 3x faster than its industry's average. It has shown a strong profit growth and has generated healthy cash from operations and allowing for internal funding of growth indicating its very good operational efficiency. Now what are the major risks? It has a high dependency because 72% of the sales come from just 27 Indian brands. A stumble in any key brand could significantly hurt its performance. The revenue if you look at it, it's very very concentrated. 96% of the revenue is from India with nearly half coming from just five states, exposing it to regional market risk sector as well. The red flag is it's a complete OFS offer for sale. This means no fresh money is going to the company, it's purely early investors and promoters cashing out and you look at peer comparison and valuation. While it is smaller in scale than many pharma genes, its growth rate and profitability metrics are stronger and looks positive. It's suitable for investors who are very bullish on domestic pharma story and comfortable where they can take a higher risks. So I want you to study this company more in detail and let me know below in the comments whether you are applying already applied or you are giving a skip for this ipo.