🧠 At a Glance
Influx Healthtech Ltd is a contract manufacturer for nutraceuticals, ayurveda, cosmetics, and homecare. It’s profitable, almost debt-free, and clocks a stunning 60% ROCE. But with debtor days ballooning to 113 and IPO rumours in the air, we ask: is this the next Suven Pharma or just another vitamin-packed bubble?
🏭 1. What Influx Actually Does (Besides Sound Fancy)
- Founded: Sep 2020
- Business Model: Contract Development & Manufacturing Organization (CDMO)
- Sectors Served:
- Nutraceuticals (think: health gummies, powders, protein)
- Ayurveda & Herbal
- Veterinary feed supplements (hello, healthy cows)
- Homecare products (detergents, disinfectants, etc.)
- Core Capabilities:
- Product Formulation & R&D
- Regulatory Compliance (aka ‘babu ka kaagaz’ management)
- End-to-end Manufacturing for B2B brands
In short: You bring the label, they build the product.
📦 2. Financials — Clean, Lean, and Cream?
| Metric | FY23 | FY24 | FY25 (Est) |
|---|---|---|---|
| Revenue (₹ Cr) | 76 | 100 | 105 |
| Operating Profit (₹ Cr) | 11 | 17 | 21 |
| OPM % | 14% | 17% | 20% |
| Net Profit (₹ Cr) | 7 | 11 | 13 |
| ROCE | 85% | 60% | – |
| ROE | 50%+ | 45%+ | – |
| Borrowings (₹ Cr) | 1 | 0 | 0 |
| P/E (Unlisted Estimate) | ~16.6x | – | – |
🧠 Highlights:
- Debt-Free? Yes.
- Consistently Profitable? Yes.
- Cash Flow from Ops? Stable.
- Revenue Growth? Meh – 5% YoY.
This is a company that’s profitable, efficient, and capital-light. In SME language: an actual unicorn minus the glitter.
⚠️ 3. But Wait — Debtors, Inventory, and Cycles?
| FY25 Operating Cycle |
|---|
| Debtor Days: 113 😬 |
| Inventory Days: 112 😐 |
| Payable Days: 248 😎 |
| CCC: -24 🔁 (Nice. Sort of.) |
It’s great that they manage working capital well, but…
To Read Full 16 Point ArticleBecome a member