| Annual Financials | Mar 2023 | Mar 2024 | Mar 2025 |
| Revenue | 19.85 | 23.57 | 28.06 |
| Expenses | 19.45 | 21.04 | 24.20 |
| Other Income | 0.00 | 0.00 | 0.00 |
| Total Revenue | 19.85 | 23.57 | 28.06 |
| Profit Before Tax | 0.40 | 2.52 | 3.86 |
| Net Profit | 0.26 | 1.80 | 2.83 |
Goldline Pharmaceutical
Goldline Pharmaceutical IPO
₹2,46,000
Bidding Dates 12 May, 26 -14 May, 26
Min Investment ₹2,46,000
Lot Size3,000
Price Range ₹41 – ₹43
Issue Size ₹11.61 Cr.
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IPO Timeline
IPO Offer Start
12 May,26
IPO Offer Ends
14 May,26
Allotment Finalisation
15 May,26
Refund Initiation
18 May,26
Listing of Shares
19 May,26
IPO Analysis
Strengths
The company's promoters have combined industry experience of more than 5 decades with knowledge in marketing and distribution circles of the pharma industry. The management team has technical, operational, marketing, and business development experience.
The company operates on an asset-light business model, avoiding heavy investment in physical assets such as plants and machinery. This model supports capital efficiency, allows expansion into new markets and facilitates better cash flow management and lower risk.
The company's business model is customer-centric and order-driven, requiring optimal utilization of resources, ensuring quality supply, and achieving economies of scale. Growth is supported by relationships with pharma manufacturers and development of new markets.
Risks
The company relies entirely on third-party contract manufacturers for pharmaceutical product manufacturing, with 15 manufacturers having lead times of 15-60 days. Any failure to meet quality, regulatory, delivery or capacity requirements could adversely affect business operations and financial condition.
The company depends on only 8 distributors for a significant portion of revenue, with top distributors accounting for substantial sales percentages. Any decrease in revenues from key intermediaries or inability to maintain relationships may materially affect business and results of operations.
The company has experienced delays in filing e-forms with ROC resulting in late fees totaling over ₹1.5 lakhs, and delays in GST payments with late fees of ₹25,000+. Future regulatory penalties could negatively affect business and financial condition.
Objectives
The company proposes to utilize the net proceeds towards scheduled repayment of various financing arrangements including unsecured loans, term loans and working capital facilities to reduce outstanding indebtedness and debt servicing costs.
The company intends to utilize funds for general corporate purposes, with the amount not exceeding 15% of the Gross Proceeds or Rs. 1,000.00 lakhs, whichever is lower.
Yearly Financial Results
Balance Sheet
| Balance Sheet | Mar 2023 | Mar 2024 | Mar 2025 |
| Total Assets | 19.39 | 22.93 | 26.28 |
| Current Assets | 16.82 | 19.50 | 23.35 |
| Fixed Assets | 2.57 | 3.43 | 2.93 |
| Total Equity & Liabilities | 19.39 | 22.93 | 26.28 |
| Total Liabilities | 13.50 | 15.07 | 15.93 |
| Current Liabilities | 9.00 | 10.17 | 11.77 |
| Non Current Liabilities | 4.50 | 4.90 | 4.16 |
| Total Equity | 5.89 | 7.86 | 10.35 |
Cash Flow
| Cash Flow | Mar 2023 | Mar 2024 | Mar 2025 |
| Net Cash Flow | -0.09 | 0.74 | 0.45 |
| Investing Activities | -1.03 | -1.11 | 0.16 |
| Operating Activities | 2.39 | 2.92 | 2.32 |
| Financing Activities | -1.44 | -1.08 | -2.03 |
About Goldline Pharmaceutical
Goldline Pharmaceutical Limited is engaged in the business of marketing pharmaceutical products under the brand name 'Goldline.' The company operates through five distinct segments: Goldline Pharma, Goldline Cardinal, Goldline Aayushman, Goldline InLife, and Goldline Wellness. The company follows a third-party manufacturing model, entering into contractual arrangements with 15 manufacturers who...more
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Managing DirectorAmol Laxmikant Mujumdar
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