Valiant Laboratories Limited | Globe Capital Market LTD.
Valiant Laboratories Limited
Price Band
₹133 to ₹140 per share
IPO Issue Period
Sep 27, 2023 to Oct 3, 2023
Issue Size
₹152.46 Cr
Face value
₹10 per share
Fresh issue
₹152.46 Cr
Offer for sale
Minimum Shares for Retail
Listing on
Issue Type
Book Building
Registrar to the Issue
Link Intime India Private Ltd
Tentative Listing Date
Oct 9, 2023

Unistone Capital Pvt Ltd

Incorporated in 1980, Valiant Laboratories Limited is a pharmaceutical ingredient manufacturing company in India having focuses on manufacturing Paracetamol.

The company’s manufacturing unit is located in Palghar, Maharashtra, spread across 2,000 sq. mts. of land with an aggregate annual total installed capacity of 9,000 MT per annum. Valiant Laboratories also has an R&D Facility, equipped with an analytical laboratory and infrastructure for developmental activities in existing products.

For the Fiscal 2023, Fiscal 2022 and Fiscal 2021, Valiant Laboratories revenue from operations was Rs. 3,339.10 million, Rs. 2,915.23 million and Rs. 1,823.69 million, respectively.

Valiant Laboratories Limited imports Para Amino Phenol, being the raw material for the manufacture of Paracetamol from China and Cambodia.

As of April 30, 2023, Valiant Laboratories has 86 employees.

For year/ period ended ( in Cr.)

H1FY23 FY22 FY21
Total Revenue 338.7 293.4 183.7
Profit After Tax 28.9 27.4 30.5
EPS 8.91 9.52 10.83
OPM (%) 11.2% 14.2% 25.6%
PATM (%) 8.5% 9.3% 16.6%


  • Experienced promoter and strong management team.
  • Strong Focus on Sustainability in Operations: Its revenue from operations grew at a CAGR of 23.90% between Fiscal 2017 and Fiscal 2023. Its restated profit after tax, grew at a CAGR of 26.81% between Fiscal 2017 and Fiscal 2023.
  • Strategically located manufacturing facility: Its Manufacturing Facility is strategically located at a distance of about 150 Kms. from JNPT (Nhava Sheva) Port, Navi Mumbai, Maharashtra and approximately 110 kms from its registered office at Mulund West, Mumbai, and Maharashtra.
  • Quality-Focused Compliant Manufacturing and R&D Infrastructure: The Company is able to achieve high level of purity i.e. 99.5% for its final product through continuous focus on quality and R&D.
  • Reducing dependence on import of raw materials: It has reduced dependency on import of raw materials for para–amino phenol from 78.06% for the fiscal 2020 to 11.92% for fiscal 2023.
  • Investment in its wholly-owned subsidiary, Valiant Advanced Sciences Private Limited (VASPL) for part-financing its capital expenditure requirements in relation to the setting up of a manufacturing facility for specialty chemicals at Saykha Industrial Area, Bharuch, Bharuch, Gujarat (Proposed Facility).
  • Investment in VASPL for funding its working capital requirements.
  • General corporate purposes.

At the upper band of Rs 140, the IPO is valued at 15.7 times. Hence, Investor can subscribe this IPO.

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