04.05.2023 India Ratings notes
- AA- rating (same as CRISIL)
- 2,000 stockists, 3,669 field force (2,555 medical representatives and 1,144 field managers) and over 5,00,000 chemists
- Top 15 mother brands contribute 75% to revenue
- Majority revenues come from metros and class I cities
- Ind-Ra expects them to grow at a CAGR of around 21% from FY22-FY26(estimate)
- Utilized 41% of fund-based limits over 12 months ended March 2023
Disclosure: Invested (position size here, no transactions in last-30 days)
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