In today’s briefing:
- Bajaj Housing Finance Pre-IPO – The Positives – Strong Brand, Fast Growth
- Morepen Laboratories (MORE IN): Strong Performance in FY24; Positive Momentum to Sustain
Bajaj Housing Finance Pre-IPO – The Positives – Strong Brand, Fast Growth
- Bajaj Housing Finance (BHF IN) is looking to raise around US$830m in its upcoming India IPO.
- BHF is a non-deposit taking housing finance company engaged in mortgage lending since FY18. Its mortgage products include home loans, loans against property, lease rental discounting and developer financing.
- In this note, we talk about the positive aspects of the deal.
Morepen Laboratories (MORE IN): Strong Performance in FY24; Positive Momentum to Sustain
- In FY24, Morepen Laboratories (MORE IN) achieved revenue, EBITDA, and PAT growth of 20%, 101% and 150%, YoY, respectively, driven by medical devices and API businesses.
- Business has stabilized in FY24 and Morepen is seeing fresh buying of medical devices. With expanding capacity, glucometer and BP monitor are expected to maintain ~30% growth momentum.
- Morepen aims to expand API product portfolio and geographic reach, while maintaining global leadership positioning in six key widely used API products.
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