Onyx Biotec Live Share Price Today, Share Analysis and Chart

About the company - Business Profile

Onyx Biotec Ltd. (ONYX) is a pharmaceutical company based in India, primarily engaged in the manufacturing and marketing of sterile water for injections and dry powder injections. The company operates as a specialized player in the parenteral (injectable) segment, serving as a contract manufacturer for several prominent pharmaceutical firms. Its operations are centered in the pharmaceutical hub of Baddi, Himachal Pradesh.

Onyx Biotec functions within the pharmaceutical formulations industry, focusing on niche delivery systems that require high standards of sterility and specialized manufacturing processes.

Key Points

• Key Facts:
  • Founded Year: Incorporated in 2005.
  • Headquarters: Panchkula, Haryana, with manufacturing operations in Baddi, Himachal Pradesh.
  • Stock Listing: Listed on the NSE SME platform following its Initial Public Offering (IPO) in November 2024.
  • Core Products: Sterile Water for Injections (WFI), Dry Powder Injections (including Cephalosporins and non-Cephalosporins), and Small Volume Parenterals (SVP).
• Operations and Resources:
  • The company operates two primary manufacturing units in Baddi, Himachal Pradesh. Unit I is dedicated to the production of sterile water for injections and liquid injectables, while Unit II focuses on dry powder injections.
  • The facilities are designed to comply with Schedule M (Indian GMP) standards and have been upgraded to meet international quality requirements to facilitate exports.
• Business Model and Competencies:
  • Onyx Biotec follows a Contract Development and Manufacturing Organization (CDMO) and Business-to-Business (B2B) model.
  • The company is specialized in the production of Sterile Water for Injections, a critical diluent used for reconstituting dry powder drugs. Its expertise lies in maintaining high-purity aseptic environments required for large-scale injectable manufacturing.
• Revenue and Financial Overview (FY 2023-24):
  • Total Revenue: ₹53.75 crore in FY24, compared to ₹39.48 crore in FY23.
  • EBITDA: Reported at ₹9.03 crore for FY24.
  • Profit After Tax (PAT): ₹3.03 crore in FY24, marking a significant increase from ₹1.84 crore in FY23.
  • Segmental Breakdown: The majority of revenue is derived from contract manufacturing services for sterile water and dry powder injectables. Geographically, the company is primarily focused on the domestic Indian market, though it has initiated steps to expand its export footprint.
• Key Products and Technology:
  • Sterile Water for Injection: Produced in various pack sizes (5ml, 10ml, 20ml) using specialized distillation and aseptic filling technology.
  • Dry Powder Injections: This segment includes anti-infectives and antibiotics. The company utilizes automated vial filling and sealing lines to ensure minimal human intervention.
  • Advanced Capabilities: Implementation of Aseptic Blow-Fill-Seal (BFS) technology for liquid injectables to enhance container integrity and sterility.
• Clients and Partnerships:
  • Onyx Biotec serves a diverse range of domestic pharmaceutical companies, including Cipla, Mankind Pharma, Sun Pharmaceutical, and Aristo Pharmaceuticals, providing them with critical injectable components and finished formulations.
• Strategic Initiatives and Future Outlook:
  • Capacity Expansion: A portion of the IPO proceeds (approximately ₹52 crore raised) is earmarked for the expansion of Unit II to increase the production capacity of dry powder injections and to set up a new laboratory for in-house testing.
  • Debt Reduction: The company has utilized funds from its public issue to repay existing borrowings to strengthen its balance sheet.
  • Market Expansion: Strategic focus on entering semi-regulated international markets in Africa and Southeast Asia to diversify revenue streams.

References

1. Prospectus Nov 2024 (Based on IPO filing data for Onyx Biotec Ltd.)