• IPO capital dynamics: Hexagon Nutrition is launching a fully-OFS IPO with a price band of ₹42 to ₹45 per share, requiring no fresh growth capital due to completed capex, strong internal accruals, and a minimal debt-to-equity ratio of 0.14 to 0.18.
• Segment margin breakdown: Gross margins stand at 60% to 65% for branded nutrition, 35% to 40% for the premix segment, and 20% to 25% for ESG products, driving overall EBITDA margins to nearly 14% in the 9-month period.
• Branded business growth: The clinical and wellness branded division is growing at 25% to 30% year-on-year and is projected to become a larger revenue contributor than the premix segment, supported by premiumization and a total addressable market exceeding ₹60,000 to ₹65,000 crore.
• Distribution network expansion: The company currently works with around 400 distributors and plans to expand reach by increasing its ground field force targeting doctors, healthcare professionals, and nutritionists.