Morningside (Leicester) Limited
General Information
- Company Number: 02277762
- Registered Address: 5 Merus Court, Meridian Business Park, Leicester, LE19 1RJ, England
- Incorporation Date: 15 July 1988
- Company Status: Active
- Company Type: Private Limited Company
- Industry: Dispensing Chemist in Specialised Stores (SIC Code: 47730)
- Website: [www.morningsidepharmacy.co.uk](http://www.morningsidepharmacy.co.uk)
- Telephone: 0116 2825400
Financial Overview
- Estimated Valuation: £0 - £1.8 million
- Turnover: £5.9 million (as of August 2023)
- Net Assets: £397.6k
- Cash Reserves: £560.2k
- EBITDA: -£416.4k (August 2023)
- Number of Employees: 75
- Financial Health Rating: 2.5 out of 5 (Pomanda)
Performance Metrics (August 2023)
- Turnover Trend:
- 2023: £5.89 million
- 2022: £5.75 million
- 2021: £5.48 million
- Gross Profit: £1.6 million
- Operating Profit: -£441.8k
- Profit After Tax: -£394k
Leadership and Key Personnel
- Danesh Vinodkumar Gadhia
- Role: Director
- Nationality: British
- Country of Residence: United Kingdom
- Occupation: Pharmacist
- LinkedIn Profile: [Danesh Gadhia](https://uk.linkedin.com/in/danesh-gadhia-6b3a9a7)
- Sanjay Kishan Gadhia
- Role: Director
- Nationality: British
- Country of Residence: United Kingdom
- Occupation: Director
- LinkedIn Profile: [Sanjay Gadhia](https://uk.linkedin.com/in/sanjay-gadhia-87a8081)
- Tarlaben Kishan Gadhia
- Role: Director and Secretary
- Nationality: British
- Country of Residence: United Kingdom
- Occupation: Shop Assistant
Ownership and Group Structure
- Parent Company: Adiuvara Limited (100% Shareholder)
- Group Structure: Morningside (Leicester) Limited has no subsidiary companies.
Compliance and Filing
- Next Accounts Due: 31 May 2025
- Last Accounts Made Up To: 31 August 2023
- Next Confirmation Statement Due: 15 May 2025
- Last Confirmation Statement Filed: 1 May 2024
Operational Summary
Morningside (Leicester) Limited specializes in the operation of dispensing chemists in specialized stores. It maintains a stable financial performance with moderate turnover growth despite facing profitability challenges in recent years. The company is primarily directed by members of the Gadhia family who have substantial experience in the pharmaceutical sector.
Strategic Insights
Given its consistent turnover and significant net assets, Morningside (Leicester) Limited is a mid-sized player in the dispensing chemist sector. Although facing a decline in operating profit and experiencing cash flow strains, the company’s established market presence and continuous operation since 1988 provide a solid foundation for growth opportunities, potentially through strategic financial management and market expansion.
Competitor Profiling for Morningside (Leicester) Limited
Key Competitors
Target Healthcare
Company Profile
- Industry: Pharmaceutical Manufacturing
- Headquarters: East Kilbride, Scotland
- Employees: 501-1,000
- Founded: 2012
- Website: [target-healthcare.co.uk](https://target-healthcare.co.uk)
Operations and Offerings
- Target Healthcare is a MHRA-approved pharmaceutical manufacturer and wholesaler.
- Provides generic, branded, and unlicensed medicines to pharmacies, dispensing doctors, hospitals, and pharmaceutical wholesalers across the UK and globally.
- Notable for a highly skilled team dedicated to exceptional customer service, specializing in bespoke areas of the pharmaceutical industry.
- Locations: Wholesale site in East Kilbride, manufacturing site in Luton.
- Established presence in significant trade shows and industry events, including the Welsh Pharmacy Trade Show and Clinical Pharmacy Congress.
Competitive Edge
- Distinguished by its MHRA approval, indicating compliance with rigorous UK pharmaceutical standards.
- Focus on rapid turnaround and competitive pricing.
- Active participation in trade shows and events highlights a commitment to industry engagement and visibility.
Aavis Pharmaceuticals
Company Profile
- Industry: Pharmaceutical Manufacturing
- Headquarters: USA
- Employees: Approx. 50
Operations and Offerings
- Aavis Pharmaceuticals is a USFDA-approved, privately-owned firm.
- Known for rapid growth, covering a variety of therapeutic areas and dosage forms, including OTC products.
- Ranked 73rd among 309 competitors by Tracxn.
- Key offerings include pharmaceuticals in various therapeutic areas and dosage forms, with a strong pipeline.
Competitive Edge
- USFDA approval signifies adherence to high regulatory standards and potential for confidence in product quality among US customers.
- Diversified product portfolio addressing multiple therapeutic areas.
- Continual growth trajectory and positioning in a competitive market space.
Astral Pharmaceuticals Pvt. Ltd.
Company Profile
- Industry: Pharmaceutical Manufacturing
- Headquarters: Mumbai, Maharashtra, India
- Employees: 53
- Annual Revenue: $5 million
Operations and Offerings
- Astral Pharmaceuticals has a significant presence in India, focusing on manufacturing and supplying pharmaceutical products.
- Provides specialized pharmaceutical manufacturing services covering various therapeutic areas.
- Ranked among competitors like RxProtect and Mundipharma AS.
Competitive Edge
- Strategic location in Mumbai, a hub for pharmaceutical manufacturing in India.
- Ability to leverage lower production costs in India while maintaining a global reach.
- Focus on both domestic and international markets to ensure a diversified revenue stream.
Analysis
Given the competitive landscape, Morningside (Leicester) Limited operates among robust competitors with varied strengths. Target Healthcare's MHRA approval and extensive wholesale network place it in direct competition within the UK and European markets. Aavis Pharmaceuticals offers a prime example of rapid growth and US market penetration with a broad product array. Astral Pharmaceuticals Pvt. Ltd., while being a smaller player, leverages the cost-effective manufacturing capabilities in India to compete globally.
Actionable Insights
For Morningside, competitive strategies could include:
- Leveraging regulatory approvals to align or surpass competitors in compliance and quality.
- Increasing visibility through industry events to attract partnership opportunities.
- Expanding offerings to cover therapeutic gaps and capitalize on emerging markets.
Understanding these competitors’ strengths and market positions can assist Morningside (Leicester) Limited in refining its competitive strategies and exploring potential growth opportunities in an ever-evolving pharmaceutical landscape.
