Dec month shareholding pattern shows promoter holding as 73.70% with the Rahejas taking over majority of the stake. Chanakya shareholding has dropped to 4.19%.
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First time PPT about the company during Quarterly results.
SOME observations:
3 categories of business
90% Export revenue
146 Cr order book
Disc: small tracking position, Do your own due diligence before Buy/Sell.
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I think they are coming up with the rights issue..but i want to understand wht will happen to the share holding structure post rights issue ?
The 225 Cr target by Mgmt, let say Margins have room to expand toward 12–18% net once scale improves, let say PAT settles at 30Cr. in that case its already at 21PE FY27. The rights issue shall fund the working capital and debt reduction needed to get there.
Is it already in a league where we can compare its PE within CRDMO space?
D- Have position ~ today’s cmp…inclined to add more and try some more at rights.
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Right issue size and schedule declared
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The rights issue if someome had executed it would be in great profit by now
The results are out, key takeaway
- Middle East war and One time client inventory adjustment had impact
- Order book improved by 60cr
- Lifescience capex expansion by 2x
- Major orders from a USA based companies, with additional orders expecte
- Total order book at 176cr
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Yesterday there was a volume of 7.27 lakh 21 times higher than last week.Moreover Chanakya Corporate Services Private Limited reduced holding by almost 1 percent.and promoter hiked holding by one percent.As per latest share holding pattern.
Is yesterday’s volume was a type of block deal?
The reduced holdings would be due rights renunciation and the same could be said for increase in promoter holding. Yesterday the block was sold by multipler share broker, not sure who that is.
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Innovassynth Technologies (India) Limited is a chemistry-focused CRDMO company engaged in research, development, and manufacturing across three key verticals — pharmaceutical intermediates, oligonucleotide building blocks, and specialty chemicals. The company provides end-to-end services including custom synthesis, process development, scale-up, and commercial manufacturing for global life sciences and advanced materials customers. Its oligonucleotide vertical focuses on nucleosides and amidites used in DNA/RNA therapeutics, while the specialty chemicals vertical serves applications in polyolefins, organometallic catalysts, and semiconductor materials. Leveraging strong chemistry capabilities, process innovation, and manufacturing expertise, Innovassynth aims to position itself as a long-term partner for global pharmaceutical and specialty chemical companies.
Primary Business of Company:
Innovassynth Technologies (India) Limited is research driven specialty chemicals Company engaged in the development, scale-up and manufacture of specialty chemicals and pharmaceutical intermediates, serving global pharmaceutical, biotechnology, chemical and advanced materials industries. The Company has developed significant expertise in nucleic acid chemistry, organometallic chemistry and specialty intermediates, supported by strong research and process development capabilities. The Company provides products and services across the life sciences and specialty chemicals value chain, and also offers custom research, process development and contract manufacturing solutions to global customers. Its solutions enable customers to transition efficiently from early-stage research to commercial-scale manufacturing. The Company’s business is primarily export oriented, supplying products and services to customers across international markets, including pharmaceutical development companies, biotechnology firms and specialty chemical manufacturers. The Company has invested in state-of-the-art Research and Development centre at Pune with key focus in offering Custom Research and Development services with potential Scale-up at its Khopoli site.
Business Verticals:
The Company operates through the following three principal business verticals:
1. Life Sciences:
The Life Sciences vertical mainly focuses on nucleic acid chemistry products and building blocks, used in oligonucleotides manufacturing. It also caters to various Custom Research and manufacturing of products used in several other Life science modalities. The Company is among the pioneers in India in offering commercial-scale nucleosides and phosphoramidites, which are key building blocks used in the synthesis of DNA, RNA and oligonucleotide-based drugs.
Key products in this vertical include:
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Phosphoramidites & protected Nucleosides
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Delivery Platforms
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Reagents, intermediates and building blocks
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Custom synthesis of Antibody Drug Conjugate (ADC) linker
These products support applications in drug discovery, oligonucleotide therapeutics and other life science modalities.
2. Specialty Chemicals:
The Specialty Chemicals vertical comprises of the development and manufacture of advanced intermediates, reagents and specialty compounds used across petroleum, polymer, semiconductor, and performance chemical industries. The Company has developed capabilities in organometallic chemistry, catalyst systems and advanced intermediates, enabling it to supply complex molecules for industrial applications.
Key product categories include:
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Organometallic compounds including metallocene pre-cursors, donors and ligands
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Polymer additives
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ALD/CVD precursors used in semiconductor applications
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Flavours and fragrances manufacturing on custom basis
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Specialty Reagents
These products cater to customers in the polymer, petroleum, semiconductor, and specialty chemicals industries.
3. Custom Research, Development and Manufacturing Organisation (CRDMO):
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Through this vertical, the Company supports customers by offering Full Time Equivalent (FTE) or Fee for Services (FFS) which include: Route scouting and feasibility studies
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Process development and optimisation
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Scale-up from laboratory to pilot and commercial scale
These services enable customers to accelerate product development and commercialisation while leveraging the Company’s chemistry expertise and manufacturing footprint.
According to the Q3 FY26 presentation of the company, it has 146 crores of order book from US based companies. Out of the total 146 crores, life sciences and CRDMO is 138 crores which is a high EBITA business.
This indicates that a turnaround in the company’s performance is likely underway and should start reflecting in the financial numbers soon.
The P&L statement given in the Q3 presentation shows that the company breaks even when there is a business of 30 crores a quarter. So if we apply this logic to the revenue estimates given in the rights offer letter, this year it would probably make a loss. But from Q1FY27, it would be profitable. If the company acquires scale, then the income irregularity would be dealt with as well.
Key Managerial Personnel
Dr Hardik Joshipura - MD and CEO
Dr Hardik Joshipura is a PhD in Organic Chemistry and Alumnus of Harvard Business School (HBS), Boston, MA, USA where he pursued his alternative to an Executive MBA program. Prior to joining Innovassynth, he held several leadership roles of increasing responsibilities with Sigma Aldrich corporation & later with Merck KGaA including manufacturing, Sales and Global Strategic Marketing. He started his career with Zydus Cadila where he was selected directly as Project Leader R&D and eventually went to lead the Contract Research R&D for its Fine Chemical business. In Sigma Aldrich, he was instrumental in setting up & leading the catalogue chemicals production facility. He was offered a role to lead Sales & Marketing function for Sigma Aldrich Fine Chemicals (SAFC) Business unit where he spearheaded localization efforts for specialty bulk chemicals & Biopharmaceutical product sales. Post acquisition, he moved to a Global role where he headed Global Strategic Marketing for process chemicals for Pharma Materials franchise. He joined Innovassynth Technologies Limited in 2022.
Viren Rajan Raheja – Promoter
Part of the Raheja group.
Akshay Rajan Raheja - Promoter
Part of the Raheja group.
Disclosure - Invested since 3 years, opinions might be biased.
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