API Holdings (PharmEasy) Limited Unlisted Shares | Latest Share Price & Updates
Company Overview
By solving the accessibility problem to medicines and healthcare services, API Holdings (PharmEasy) has emerged as India’s largest online marketplace for pharma products and healthcare services in terms of GMV of products and services sold on the platform.
Started in 2015, API Holdings (PharmEasy) has progressed from wholesaler of pharma products to fully-integrated, digital healthcare platform selling drugs, medical devices, diagnostic tests, tele-consultations.
The company connects the chemist shops, wholesalers, medical device companies, diagnostic labs, hospitals with the consumers to reach 25 million registered users, covering 97% pin code coverage of India. There are 87k pharmacies, 3200 wholesalers and 4600 doctors registered on PharmEasy marketplace, generating annual GMV of ₹ 78 billion (2021), 10 million digital prescriptions, 3.5 million e-consultations, 565000 daily clinical investigations.
The healthcare industry in India is least technology-disrupted. The size of the online pharmacy industry is around 2-4% of the market size as of 2020 against 12-17% in the USA, and 25-30% in China. The Indian online pharmacy industry is split between at-home delivery of prescription drugs, generic OTC medicine, diagnostics, and e-consultation. Among these, the share of e-prescription drugs is 55%, followed by 35% market share of e-OTC segment and e-consultation and e-diagnostic segments account for 6% and 4% market share respectively.
In October, 2021, API Holdings (PharmEasy) raised about $ 350 million in its latest financing round before filing its DRHP at the valuation of $ 5.6 billion. The lead investors were Singapore based Amansa Capital, Blackstone, US hedge fund Janus Henderson, OrbiMed, and Abu Dhabi’s sovereign wealth fund ADQ.
Checkout the latest API Holdings share price.
API Holdings (PharmEasy) Corporate Journey
| Year | Business Profile |
|---|---|
| 2012 | Founders started retail pharmacy and wholesale supplier to hospitals. |
| 2013 | Launched Ascent and pivoted to pharma distribution business. |
| 2015 | Developed proprietary mobile and web application technology that powers PharmEasy online marketplace. |
| 2016 | Launched docon, EMR solution provider for doctors and clinics. |
| 2017 | Launched Retailio, online pharma supply chain platform for pharmacies and medicine distributors. |
| 2020 | Ascent and other subsidiaries merged to form API holdings. |
| 2021 | Purchased Medlife, one of the India’s leading digital healthcare company. |
| 2021 | Purchased Thyrocare, India’s largest diagnostic test provider. |
| 2021 | Purchased Aknamed, India’s largest online supplier of pharmaceutical and medical consumables to hospitals, clinics and medical centres. |
API Holdings (PharmEasy) Business Model
API Holdings (PharmEasy) make their money from 3 sources:
1) Wholesaling of pharmacy, OTC, surgical products, private label medical products, medical consumables and other health products. The company buys from pharmaceutical companies and wholesalers and wholesale to retailers, chemists and hospitals. The company distributes pharma products to retailers, who are registered resellers on PharmEasy marketplace.
2) Sale of medical diagnostic services to hospitals, diagnostic companies, clinics and consumers including PharmEasy marketplace.
3) Other sources like advertisement and lead generation on its Retailio, online pharma supply chain platform, sale of Redbook software to pharmacies, license and platform fees (from Axelia for the use of brand and technology).
Besides, API Holdings (PharmEasy) also earns from logistics services by providing last mile delivery services for fulfilling orders on PharmEasy marketplace and lease of EMR software and hardware to doctors.
Registered Address
The registered office of API Holdings (PharmEasy) is located at 9th Floor, Raheja Plaza 1, B-Wing, L.B.S. Marg, Ghatkopar West, Mumbai, India.
| Symbol | API Holdings (PharmEasy) Ltd. |
|---|---|
| Face Value (₹): | 1 |
| ISIN: | INE0DJ201029 |
| Demat Status: | NSDL & CDSL |
| Lot Size: | 150 Shares |
Board of Directors:
| Name | Designation | Profile |
|---|---|---|
| Mr.Siddharth Shah | MD & CEO |  |
| Mr.Aditya Puri | Chairman & Non-Executive Director | |
| Mr.Harsh Parekh | Wholetime Director | |
| Mr.Dharmil Sheth | Wholetime Director | |
| Mr.Ashutosh Sharma | Non-Executive Director | |
| Mr.Ankur Thadani | Non-Executive Director | |
| Mr.Deepak Vaidya | Independent Director | |
| Mr.Vineeta Rai | Independent Director | |
Key Business Highlights
- Owns PharmEasy, India’s largest digital marketplace for Pharma products and healthcare services in terms of gross merchandise value (GMV) of products sold.
- 87K active pharmacies, 3200 wholesalers, 4600 doctors, 900 Hospitals generated annual revenues of ₹2360 crores on GMV of ₹78 billion, 10million digital prescriptions, 565k daily clinical investigations, 3.4 million e-consultations during FY 2020-21.
- Full-stack presence across healthcare value-chain with PharmEasy (India’s largest digital pharmacy & health services marketplace), Thyrocare (India’s largest diagnostic company), Aknamed (India’s largest hospital-focussed supply chain platform) and investment in Marg ERP Ltd (India’s largest ERP provider for pharmacies and wholesalers).
- API Holdings group company, Retailio, is a digital pharma supply chain platform connecting pharmacies with wholesalers and manufacturers. Retailio is used by 87k pharmacies and 3200 wholesalers across 191 cities.
- Valued at $5.6 billion in its latest funding round in October, 2021 and backed by blue-chip investors- Naspers Ventures, Macritchie Investments, TPG Growth, Evermed Holdings.
Ratio
| Ratio | FY22 | FY21 |
|---|---|---|
| Operating Margin | -64% | -24% |
| Net Profit Margin | -69% | -27% |
| Return on Equity | -57% | -18% |
| Debt-Equity | 0.37 | 0.16 |
| Current Ratio | 0.67 | 1.35 |
| Dividend Payout | 0% | 0% |
Note:- Dividend payout = Total Dividend/Net Income.
It indicates, how much % of its Net Income, the company is paying out as dividend to its Shareholders.
Financial Highlights
| Particulars | 2021-22 | 2020-21 | 2019-20 |
|---|---|---|---|
| Total Income (₹ Crores) | 5781 | 2360.66 | 737.45 |
| PAT (₹ Crores) | -3992.5 | -641.34 | -335.28 |
| Diluted EPS | -7.28 | -2.67 | -129.15 |
| Book Value per Share (₹) | 11.43 | 946.96 | 2,46,242 |
| Equity (₹ Crores) | 7,022.48 | 3581.18 | 246.24 |
Note:– During 2021-22, after converting its convertible debentures & preference shares into equity and bonus issue, the Company has subdivided (Split off) its share capital from face value of 10 each to face value of Re 1 each, as on the record date i.e. 29 October 2021.
Peer Comparison
| Company | Market Cap (₹ Crores) | Profitability Margin (%) | ROCE (%) | ROE (%) | D/E Ratio | P/E Ratio | P/B Ratio | Book Value per Share (₹) |
|---|---|---|---|---|---|---|---|---|
| API Holdings (PharmEasy) | 22726 | -69.06% | -48.61% | -56.85% | 0.37 | -5.08 | 3.24 | 11.43 |
| Medplus Health Services Ltd | 7390 | 2.50% | 9.05% | 6.75% | 0.10 | 118.65 | 8.50 | 118.80 |
Media Updates
“Piramal Capital ties up with API Holdings”
Piramal Capital & Housing Finance (PCHFL) has tied up with API Holdings to provide financing solutions to customers and has earmarked ₹100 crore for disbursement by the end of this fiscal. Piramal Capital & Housing Finance Limited (PCHFL), the wholly owned subsidiary of Piramal Enterprises, has forged a strategic partnership with API Holdings through its digital platform Retailio, a release said on Thursday.
Retailio is India’s largest digital B2B healthcare platform. The partnership aims at synergizing respective capabilities to provide efficient and seamless financing solutions to consumers, retailers and merchants in the API Holdings’ healthcare ecosystem.
“PharmEasy aims for $9 billion valuation via public offering”
Online drugstore PharmEasy, which bought diagnostic chain Thyrocare in June, aims to raise a billion dollars at a valuation of $9 billion in its initial public offering later this year, two people directly aware of the company’s plans said.
