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Tarsons Products Ltd.

About the Company

Incorporated in 1983, Tarsons Products (Tarsons) is an Indian Labware company. It is engaged in the designing, development, manufacturing and marketing of ‘consumables’, ‘reusables’ and ‘others’ including benchtop equipment, used in various laboratories across research organizations, academia institutes, pharmaceutical companies, contract research organizations, diagnostic companies and hospitals. It manufactures a range of quality labware products that helps advance scientific discovery and improve healthcare. It has a diversified product portfolio with over 1,700 SKUs across 300 products. Consumables include products such as centrifuge ware, cryogenic ware, liquid handling, PCR consumables and petri dish, transfer pipettes and others. Reusables include products such as bottles, carboys, beakers, measuring cylinders and tube racks. Others include benchtop instrumentation such as vortex shakers, centrifuges pipettors and others. It caters to a diverse range of end customers across various sectors which include research organizations, academic institutions, pharmaceutical companies, CROs, diagnostic companies, and hospitals. It currently operates through five manufacturing facilities located in West Bengal.

Objects of the Issue

* Repayment/prepayment of all or certain of its borrowings

* Funding a part of the capital expenditure for the new manufacturing facility at Panchla, West Bengal

* General corporate purposes

Valuation

The life sciences industry is growing at a rapid pace on account of advancements in the field of scientific research. The need for various types of equipment across laboratories and the increasing trend of research-based studies is driving the global demand for laboratory equipment. As a result, the global laboratory equipment market is expected to register a growth of 4.9% CAGR from 2020-25, to reach USD 20.5 billion by 2025 from USD 16.2 billion in 2020. Further, with high penetration expected, plastic labware is expected to replace glassware products by another 15% to reach a market share of approximately 67% in the global laboratory equipment market by FY25, given plastic products are superior in terms of shelf life, handling, and safety benefits. Further, emerging economies like India are expected to grow at a faster pace due to a surge in chronic diseases, rising patient population, rise in initiatives by governments in the health care sector, increase in the number of diagnostic laboratories.

arsons is well placed to benefit from growing industry trends given its strong market share of ~9-12% in India, quality products and strong brand recognition. Moreover, it provides a diverse range of labware products across varied customer segments. It has a wide geographic reach through its pan India sales and distribution network. Going forward, it intends to expand its product portfolio, enhance its manufacturing capacities, and increase its global footprint. It also aims to continue to focus on maintaining operational efficiency and profitability. The financial performance has been healthy with sales and net profit CAGR of 13% and 33% over FY19-21.

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SEBI Registration number is INZ000174330

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