Stockrabit · Analysts
Questions across 2 calls

Aditya Vikram

DB Securities Private Limited

Torrent Pharmaceuticals Limited

Torrent Pharmaceuticals Limited CC-Feb26.pdf · 2026-02-13
Thank you. So, quick question. Once the JB merger happens, right, what would be the margin guidance, if at all, considering you are going to have cost savings, JB currently have an EBITDA margin of 18% to 19%. You are sitting at 32%. Even if we consider the synergies, is this going to be margin accretive for our businesses? I understand that you have not done on the revenue side so far, but you must have some ballpark numbers in your head.
Okay. Thanks for that. So, how is U.S. looking for you? I know there was no tariff on Pharma in any case, right? But after this tariff news out of the way, are you seeing the potential to grow above 20% on the U.S. side in the subsequent quarters?

SBI Cards and Payment Services Limited

SBI Cards and Payment Services Limited CC-Feb26.pdf · 2026-01-28
Hi, thank you so much for taking my questions. After a very long period of time, we are seeing some really good numbers. So I think you answer ed about the receivables, right? What are the trends looking at, right? Is the spend increasing or are we going to focus more on the EMI assets? Because if I look at your presentation, right, what I see is that the Q-on-Q growth about the retail spend is not very significant, right? So just wanted your thoughts on some qualitative commentary on that. That's the first question. The second one, which I wanted to really understand is that you mentioned in your initial remarks that it was about 4 quarters back when you were growing at 1.1 million or almost 1 million customers every quarter. And you're saying you will go back to that. So what happens? What is your assessment again on the side of the quality? Do we add some new customers, you see the growth increasing on the same path going forward? Or you will be more aggressive in terms of acquiring new customers? Thank you.
So just to follow up on that, mam. You said 1 million customers is what you're looking at, right? So I just want to get that clear, right? We will be able to acquire 1 million customers by having aggressive strategy, but at the same point of time, there wi ll be more sustainable with less risk of any sort of discretionary kind of a category, right? That's what you were trying to say in baseline.