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15 Days Price Change

Pharmeasy Unlisted Share

₹11 0 | 0%

Market Cap ₹ 6756Cr.

Current Price ₹ 11

Lot Size 1000

52W High ₹ 20

EPS -6.5

P/B 1

Face Value 1

Debt to Equity 0.37

Stock P/E -1.7

Book Value ₹ 11.4

Company

52W Low ₹ 11

Demat Account Both

ISIN INE0DJ201029

Valuation

No. of Shares 614.2Cr.

Pharmeasy Unlisted Share Price

| |

Price

Overview Inc. Year: 2019Industry: e-Commerce

Incorporated on 31 March 2019, API Holdings Limited develops and operates an integrated digital healthcare platform through its subsidiaries. The company operates a consumer healthcare app called PharmEasy that enables the home delivery of pharmaceutical products to its customers. It also provides services such as call center management, medical and legal transcription, data processing, warehousing, and database management services. The company has a total of 26 subsidiaries like Docon, Thyrocare, and more.

API Holdings Ltd's Unlisted Share Price are updated on our website on a daily basis, to stay updated with the share price you can visit our website every two days or register with us to get daily updates on WhatsApp.

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Net Sales (in cr.)

Total Income (in cr.)

Operating Profit (in cr.)

Net Profit (in cr.)

Shareholder Funds (in cr.)

Total Assets (in cr.)

Financial Data (in cr.)

FY20 FY21 FY22 YOY % FY22 CAGR % FY22
Net Sales 667.5 2335.3 5728.8 145.3 193
Total Income 737.4 2360.7 5781 144.9 180
Net Profit -335.3 -641.3 -3992.5 522.6 245.1
Shareholder Funds 246.2 3581.2 7022.5 96.1 434.1
Total Assets 572.5 4905.3 11398.3 132.4 346.2
EPS -33527.9 -1.05 -6.5 519

Financial Docs

Type Period/Date Document
Annual Report 2022-03
Annual Report 2021-03

Pharmeasy Investment Thesis

Company Overview:

API Holdings is India’s largest digital healthcare platform with FY21 GMV of USD1.05bn. B2C operations added 21% to FY21 GMV while 72% was B2B. API serves as a wholesaler of pharma and OTC products using Retailio 1P (30% of GMV), as distributor using Retailio 3P (35%) and as medical supplier to hospitals/clinics using Aknamed (8%). Other major services for the company are diagnostics (Thyrocare), ERP systems (Redbook & Marg ERP), EMR & Teleconsult (Docon).

API Holdings Limited is India’s largest digital healthcare firm based on FY21 GMV of USD1.05bn. The company provides services like teleconsultation, diagnostics, B2B and B2C sale of pharma products, EMR systems. API is the parent entity of various healthcare platforms like Retailio, Redbook, Aknamed and Thyrocare.

API is the brand owner of Pharmeasy, marketplace run by Axelia: API holding’s wholly owned subsidiary Threpsi Solutions is the owner of the Pharmeasy brand. Threpsi Solutions has licensed the brand Pharmeasy to Axelia that operates the Pharmeasy marketplace. Axelia is 100% owned by Aarman Solutions and API holding has 19.99% stake in Aarman Solutions. The marketplace is the largest epharmacy platform in India by GMV and had a registered userbase of 25m as of Jun-21. In FY21/1QFY22, 8.8m/4.4m orders were transacted on the platform by 2.4m/2.1m unique customers resulting in GMV of INR10.6bn/5.2bn. As of Jun-21, 58% customers on the platform were from Tier II, III cities.

API Holding's B2B ops account for more than 2/3rd of total GMV: In FY21, 35% of API’s GMV came from Retailio 3P (third party), a digital platform used by pharmacies to order medicines. Retailio 1P (first party) accounted for 30% of GMV where API serves like a wholesaler; procures a wide range of pharma & OTC products directly from manufacturers and delivers them to retailers. As of Jun-21, 3,261 wholesalers (~5% of all domestic pharma wholesalers) used Retailio to transact with 87,194 pharmacies (11% of all pharmacies in India). On the digital platform, Retailio 1P is listed as one of the wholesalers. API also acts as a medical supplier to hospitals, doctors, clinics and medical centres. The business was scaled-up by the acquisition of Aknamed in Sep-21 which serviced 926 hospitals in 1QFY22. Currently, Retailio 3P earns revenue through advertisements on the platform.

API acquired Thyrocare in Sep-21 and has now become the largest diagnostic test provider by volume in the country. Thyrocare had a comprehensive portfolio of 283 diagnostics tests and 17 labs in India. API provides Electronic Medical Record (EMR), practice management software and teleconsult tools to doctors through its proprietary and AI driven predictive software called Docon (teleconsultation also available on mobile app Docon). During Jun-21, 4,617 prescribing doctors used Docon software and the teleconsultation tool.

India's HealthTech play is now getting integrated and most players are trying to provide various healthcare services under one roof. Though discounts remain important for attracting customers, equally important is the customer convenience, quality of service due to the innate nature of healthcare industry.

Mission & Vision:

The ultimate goal of PharmEasy is to provide affordable healthcare to one and all.

Several services that are offered by PharmEasy:

  • Providing digital tools and information on illness and wellness,
  • Offering teleconsultation,
  • OFfering diagnostics and radiology tests, and
  • Delivering treatment protocols including products and devices.

Business Segments:

Various products and services span across the healthcare value chain and are currently at different stages of growth, market penetration, customer adoption, product development, and monetisation.

  • Distribution to retailer: PharmEasy sell pharma, OTC and private label medical products, surgical and consumables procured from pharmaceutical companies and wholesalers to retailers. These retailers are typically registered sellers on PharmEasy marketplace. They have also launched range of private label products across categories through our brands ‘Liveasy’ and ‘Everherb” to target the large and fast growing consumer healthcare segment including OTC, wellness, multivitamins, orthopaedic and diabetic care products amongst others. These products enhance their overall selection of categories for our customers.
     In Fiscal 2021 and the three months ended June 30, 2021, this business recorded Pro Forma GMV of Rs. 13,579.24 million and Rs. 5,251.73 million, respectively. Their DIFOT (delivery in full and on time) orders from warehouse to retailers that are listed on PharmEasy marketplace were 87.8% and 87.5% for Fiscal 2021 and the three months ended June 30, 2021. They maintained EDD (estimated delivery date) adherence of 95.7% and 96.1% in Fiscal 2021 and the three months ended June 30, 2021. Their demand forecasting and assortment planning algorithms analyse more than 700 million data points across a host of signals on a daily and weekly basis to support our 97% line item fill rates. 
  • Distribution to chemist and institutions:PharmEasy operate a technology-powered distribution business under which they procure pharma, OTC and private label medical products, surgical and consumables from pharmaceutical companies and wholesalers and sell to chemists and institutions, which largely include pharmacies, hospitals, doctors, clinics, and medical centres in India. They sell these products both directly as well as using technology provided by Retailio.
  • Diagnostic services: They have strengthened this business through the acquisition of Thyrocare in September 2021. Thyrocare is the largest diagnostics test providers by volumes, with one of the lowest costs of testing, as of financial year 2021, as per RedSeer Report. Thyrocare offers a comprehensive portfolio of 283 diagnostics tests through 17 owned diagnostics labs, approximately 4500 diagnostics collection centres as of 31 March 2021 and an in-house team of 16 pathologists and 889 phlebotomists as of June 30, 2021. They offer this service to consumers, hospitals, diagnostic companies, and independent phlebotomists. Consumers can avail their diagnostics services by walking into a collection centre, calling their helplines for home collection, booking a test online (including through PharmEasy marketplace, Thyrocare’s mobile application and website and other third party online channels).
  • Direct-to-pharmacy services: They own and operate Retailio, one of India’s largest online pharma platforms, in terms of the retailer base as of financial year 2021 as per RedSeer Report, providing technology which enables wholesalers and pharmacies to connect and sell a wide range of pharma and other medical products. During the month of June 2021, 87,194 pharmacies and 3,261 wholesalers used Retailio to fulfil their procurement needs. Retailio was used in 191 cities pan India across 3,482 pin codes during the month of June 2021. During the month of June 2021, 221,477 SKUs were transacted using Retailio. Retailio is digitising the traditional pharma supply chain (via digital ordering, logistics, payments, and credit) and empowering pharmacies with technology products. It is available as a mobile app and web application. Retailio provides pharmacies with real time price discovery, inventory visibility and provides technology enabling ordering, confirmation and payments in a digitized, self-serve manner.
  • Services for doctors and teleconsultation for consumers: They provide EMR and practice management software and teleconsultation tools to doctors through our proprietary, AI-driven predictive software called Docon. They also provide teleconsultation services to customers on Docon mobile application and on PharmEasy marketplace. 10.7 million digital prescriptions were generated during Fiscal 2021 on our platform. Additionally, They have facilitated 3.4 million teleconsultations in Fiscal 2021. Further, in the three months ended June 30, 2021, 4.1 million digital prescriptions were generated on our platform and facilitated 1.6 million teleconsultations. For the month of June 30, 2021, Docon and Docstat is being used by 4,617 prescribing doctors to digitally engage with their patients through electronic medical records (EMR), teleconsultations, and generation of digital prescriptions. Docon is customizable with simple configuration parameters, and identifies patterns of consultation, diagnosis, prescription as doctors interact and spend more time using the software.
  • ERP services for pharmacies: RedBook is an ERP and customer relationship management software for pharmacies. 2,537 pharmacies/retailers are active on RedBook for the month of June, 2021. It allows pharmacies in our network to avail technology tools and data intelligence to deliver better customer service and drive efficiencies in their operations. In October 2021, to expand our network and add more technology capability we acquired a 49.17% stake in Marg, an ERP software vendor to pharmacies and wholesalers. This business provides ERP solutions to more than 200,000 pharmacies and wholesalers as of June 30, 2021.

Competitive Strength:

PharmEasy has acquired various healthcare companies to provide better service at affordable costs:

  • Medlife Acquisition – In January 2021, API Holdings acquired Medlife, then one of India’s leading digital healthcare companies in terms of GMV of products sold on its platform in the financial year 2021, as per RedSeer Report.
  • Thyrocare Acquisition – In September 2021, API Holdings acquired Thyrocare, India’s largest diagnostic player by test volumes, as per RedSeer Report. Thyrocare’s addition to API Holdings has enabled a pan-India diagnostics presence spanning more than 550 districts (as of June 30, 2021) and an ability to serve a large portion of India’s population with a diagnostic test. Thyrocare provided API Holdings the ability to offer diagnostics services to customers across the country, thereby adding complimentary services to our portfolio of offerings. Our technology and digital products will also bring necessary digital capabilities to Thyrocare’s business.
  • Aknamed Acquisition – In September 2021, we acquired Aknamed, which strengthened our technology-enabled supplier business of supplying pharmaceutical products, medical consumables, and other surgical products to hospitals, clinics and medical centres. Aknamed is one of the largest tech-enabled suppliers of specialty medicines, pharmaceutical drugs, surgical and medical devices, and other medical products to doctors and hospitals in India, on the basis of revenue in Financial Year 2021 as per the RedSeer Report. Aknamed complements our capability and scale across distribution to pharmacies with the ability to now serve hospitals, clinics and medical centres across the country. Aknamed’s portfolio of products as well as presence in specialty therapies also offers API Holdings the capabilities to roll out chronic care programs across different specialty segments. We can also use Aknamed’s presence in surgical items and other consumables to cross-sell these products to pharmacies on Retailio.
  • Investment in Marg ERP Limited – In October 2021, we acquired a 49.17% stake in Marg, one of India’s largest ERP providers for pharmaceutical retailers and wholesalers with over 200,000 pharmacies and wholesalers served as of Fiscal 2021, as per the RedSeer Report. Through the investment in Marg ERP Limited, we now have access to a technology user base and an ERP system that can integrate deeply with API Holdings’ technology products including Retailio, Redbook and PharmEasy to create a seamless technology layer that can strengthen our ecosystem-based approach to offer healthcare services and digital payments amongst others as well as market intelligence through the large volume of data that our integrated technology layers can create. Marg ERP Limited along with Retailio would also allow us to build relationships with pharmacies and wholesalers as our products power both operations as well as commerce opportunities.

Key Strength of PharmEasy:

With these capabilities of their scaled presence, they now touch stakeholders across healthcare – consumers, pharmaceutical companies, wholesalers, pharmacies, hospitals, doctors and clinics and diagnostic and radiology labs. This presence allows them to offer integrated bouquet of products, services and technology to all stakeholders, with each having an ability to cross-sell services and products of one stakeholder to the other or their customers. As an illustration, pharmacies which are using the Retailio platform for their procurement and payments, can use Marg ERP Limited’s systems for their technology backbone, become a seller on the PharmEasy marketplace, offer tele-consult services by tying up with Docon and use the extensive Thyrocare network to provide diagnostic services.

This unique flywheel provides multiple stakeholders an opportunity to offer holistic healthcare solutions to the consumers, beyond their core service or product offering. Further, these solutions can be offered in a manner which is agnostic to the manner with which the consumers access the stakeholders, whether online or offline, and irrespective of where they would like to avail such services at their home or at point of sale.

They work closely with, and build technology-enabled services for consumers, pharmaceutical companies, wholesalers, pharmacies, hospitals, doctors and clinics and diagnostic and radiology labs. Their growing nationwide presence, the connected ecosystem approach, and multiple synergistic offerings have enabled them to build relationships with various stakeholders of the healthcare value chain. PharmEasy is India’s leading consumer healthcare super app for consumers (providing online pharmacy, OTC, teleconsultation and diagnostics services) in terms of GMV of products and services sold on the platform in the financial year 2021 according to the RedSeer Report.

Promoters and ShareHolding Pattern:

Peer Comparison:

 

Financials:

Source: Company Filing Form AOC-4

Source: Company Filing Form AOC-4

Source: Company Filing Form AOC-4

Valuations:

The company's revenue has grown massively increasing from INR 737.4 Cr in FY'20 to INR 2360.6 Cr in FY'21. This increase is mainly attributable to the massive rise in demand for pharmaceuticals due to the spread the of pandemic across the country. The assets of the company have shown a massive growth of 757% in FY'21 over FY'20. This growth in assets is attributable to the increase in cash and cash equivalents which have increased mainly due to the increase in deposit accounts by INR150.0 Cr in FY'21. The major reason of increase in assets is the growth in the goodwill value which has increased from INR 0.7 Cr in FY'20 to INR 3192.1 Cr in FY'21, which is because of the acquisition of Ascent Health as well as Medlife International including its subsidiaries in FY'21.

The cash flow from operations has further decreased by INR 361.6 Cr in FY'21 over FY'20. This is due to the large loss faced by the company in FY'21 as well as the increase in current liabilities which is mainly attributable to the large increase in the company's short term borrowings in FY'21.

News:

  1. PharmEasy partners with Cashfree for to deliver quick payment settlement.
    https://www.news18.com/news/business/pharmeasy-partners-with-cashfree-to-deliver-quick-payment-settlement-check-details-5769931.html

  1. PharmEasy plans $200 million fund raising at lower valuation
    https://economictimes.indiatimes.com/tech/funding/pharmeasy-plans-200-million-fund-raising-at-lower-valuation/articleshow/92976294.cms

Pharmeasy Unlisted Shares: FAQs

1. Is trading in API Holdings Ltd's unlisted shares legal in India?

Yes trading in unlisted shares is undoubtedly legal in India. The trading takes place in the over-the-counter market through various platforms like Sharescart.com.

2. Is unlisted shares regulated by SEBI?

No, SEBI does not regulate the unlisted share market but certain rules and regulations of SEBI are applicable in the unlisted market space as well, such as, the DP charges for each transaction, stamp duty, lock-in period and more.

3. Where can I get the best API Holdings Ltd unlisted share price?

You will get the best price for API Holdings Ltd and a hassle-free buying experience only on Sharescart.com platform.

4. How can I buy API Holdings Ltd's unlisted shares?

API Holdings Ltd's unlisted shares can be easily purchased at Sharescart.com by following a few easy steps. Given below are the steps involved in the buying of these shares:

Step 1 - Confirmation on the number of shares you want to purchase of API Holdings Ltd at a trading price.

Step 2 - Submission of the necessary document like your Client Master Report. Certain additional documents will also be asked for by our representative if required such as a cancelled cheque and your PAN Card if you are paying from a secondary bank account which is not mentioned in your CMR.

Step 3 - The Sharescart.com representative will share the account details so that you can transfer the trade amount into the account.

Step 4 - The shares of API Holdings Ltd will reflect in your Demat account within 24 hours as soon as the payment is received and depending on the holidays. Our details would be available to you before the transfer.

5. How can I sell API Holdings Ltd unlisted shares?

API Holdings Ltd's unlisted shares can be easily sold at Sharescart.com by following a few easy steps. Given below are the steps involved in the of selling of these shares:

Step 1- Confirmation on the number of shares you want to sell of API Holdings Ltd and at what price you want to sell.

Step 2- At Sharescart, we will find a suitable buyer for you according to your requirements and if you accept the trade we will move on to the transfer and the payment aspect of the trade.

Step 3- The Sharescart representative will provide you with the Demat account details to transfer your API Holdings Ltd shares. They will also notify you about the additional details required from your end before the transfer of shares such as client master copy, delivery instruction slip, and more.

Step 4- Once the transfer is complete, the payment would be credited to your bank account within 24 hours, depending on the holidays.

6. What is the minimum ticket size for investment in API Holdings Ltd unlisted shares?

Over the years the minimum ticket size for investment has dropped as more and more people have started investing in the Unlisted market. Currently, the minimum ticket size for API Holdings Ltd is between 30K to 50K.

7. How to check if API Holdings Ltd shares are credited to my account?

Brokers or dealers provide you with a trading facility means you can buy and sell shares with your broker but when you buy shares the Depository holds your shares. There are mainly two depositories NSDL and CDSL.

If you want to check your shares in NSDL and CDSL you need to download the application (NSDL Speede App or CDSL myeasi).

  • You need to download the Application.
  • Login or Register yourself.
  • Fill in your DP Id and Client Id (NSDL DP Id starts with IN and CDSL DP & Client Id in numeric).
  • After registration, log on to your account and go to Dashboard.
  • You can see all your holding (Listed, Unlisted, Mutual Fund) there.

8. What will be the tax bearing on API Holdings Ltd?

The taxation on the API Holdings Ltd shares may vary depending on 2 Factors:

  • Short-term capital or long-term capital.
  • Pre-IPO stage (unlisted shares) or Post-IPO stage (listed shares)

Short-term capital

Unlisted shares - In unlisted shares, the taxation of short-term capital gain i.e. less than 24 months is taxable according to the investor's income tax slab.

Listed Shares - In listed shares, the taxation for short-term capital gains i.e. less than 12 months is at 15%

Long-term capital

Unlisted shares - The taxation for long-term capital gain i.e. more than 24 months is taxable at 20% with indexation benefits.

Listed Shares - The taxation for long-term capital gains i.e. more than 12 months is at 10% after an exemption of 1 lakh. There are no indexation benefits in listed shares.

9. What is the lock-in period of API Holdings Ltd shares?

According to the current rule issued by SEBI last year in August 2021, the lock-in period is brought down from 1 year to 6 months. This was done to entice more investors to invest their money in pre-IPO companies and startups. The lock-in period of API Holdings Ltd varies depending on which type of investor you are:

  • Foreign Venture Capital Investor - These investors have a lock-in period of 6 months from the procurement date of API Holdings Ltd shares.
  • Alternative Investment Funds II - These investors don't have to serve any lock-in period.
  • Other investors - These investors include body corporate, retail, high net-worth individuals. The lock-in period for them is 6 months from the date of listing of API Holdings Ltd enlisted shares.

10. How to check API Holdings Ltd unlisted share price daily?

You can check daily share prices of companies on our website or register with us using your phone number where you will get daily whatsapp updates on company news and other essential informations.

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