Stockrabit · Analysts
Questions across 34 calls

Amey Chalke

JM Financial

Fortis Healthcare Limited

Fortis Healthcare Limited CC-May26.pdf · 2026-05-25
Congrats to the management on good numbers. So first question was on top 10 hospitals. First half of the question already answered on the larger hospital. But if you look at the smaller hospitals, which have done well, particularly FEHI and Jaipur, they have been doing well for last 2, 3 quarters. So what is going right here? And also, is this growth a profitable one? Or is it the margins remain in the low teens only for these hospitals?
And the second question I have on the FMRI tower expansion. You mentioned in the opening remarks that the tower is likely to get opened in coming weeks. So do you expect the e ntire capacity to start in one go? Or -- and also, what is the current capacity utilization of FMRI?
Fortis Healthcare Limited CC-Jun25.pdf · 2025-08-07
Congrats to the management on good numbers. So the first question I have on the Hospital performance, particularly the 5 hospitals: FMRI, Mohali, BG Road, Mu lund and Jaipur, have seen a sharp uptick on the sequential numbers. Is it possible to highlight the reason for the same? And particularly in Jaipur and BG Road, what is the occupancy right now?
FMRI, Mohali, BG Road have seen a good sequential uptick in the revenues and -- as well as Jaipur and Mulund as well, if you can provide some reason for the same? And also, if you can provide the occupancy for Jaipur and BG Road?

Emcure Pharmaceuticals Limited

Emcure Pharmaceuticals Limited CC-May26.pdf · 2026-05-05
So, the first question I have on India business. We have delivered around 5% growth this quarter. I understand there was Zuventus impact. Is it possible to quantify this impact? And does it mean that since there is attrition and all what you mentioned, the next few quarters year-on-year growth could be affected on account of this restructuring?
I just have one follow-up question on Zuventus. So what kind of operational synergies do you expect in Zuventus? Li ke, will it improve our India margins? Are you going to consolidate our like a common molecule brands which are present in both the entities or the MR field force, are you going to cut it down so that, that could improve the profitability? Any color on that would be helpful.
Emcure Pharmaceuticals Limited CC-Feb26.pdf · 2026-02-04
Yes. Congrats to the management on a good set of numbers. So I have first question on India business. Just wanted to understand the growth factors here for the quarter particularly. We have delivered 15% growth. I believe this was largely normalized quarter. So is it possible to give some understanding of what has driven 15% growth? And how is the core business performing versus the in-licensed business like Sanofi, etcetera?
And the iron portfolio has also started delivering double-digit growth where the growth has been an issue for a while?

Dr. Lal Path Labs Ltd.

Dr. Lal Path Labs Ltd. CC-May26.pdf · 2026-04-30
Thank you for taking my question and congrats with a good number. So, one question I have on the margin side. This quarter, we have seen a sharp jump in the other expenses. I understand that second half is generally marketing heavy. But given this jump loo ks much sharper even on 3Q, how sustainable it is? And if you can also give color on margin for next year in line with that? Thank you.
You do not expect margin to expand next year, what you are telling?
Dr. Lal Path Labs Ltd. CC-Mar25.pdf · 2025-04-25
Yes, thank you for taking my question. Although most of my questions have been answered, I have one question on the expansion. So , this year we have seen something like 18 labs being added in a year and close to 1 ,000 PSC. Is it possible to tell how much would it be in the core areas of like North and how much would it be in all core areas?
I am saying the diagnostic paradigm, the way it is done largely, it is In Vitro Diagnostic at present, the dependence of it. So, going ahead, you see the importance of In vitro diagnostic to go down in place of, let's say, AI -powered image techniques, etc., if a lot of these ventures are using them. So , you expect the In Vitro Diagnostic testing as an importance to go down going ahead.

Vijaya Diagnostic Centre Limited

Vijaya Diagnostic Centre Limited CC-Feb26.pdf · 2026-02-13
So, the first question I have is basically, we have added several hubs during this year. And still in terms of margins, we have been able to expand margins fairly well. We have delivered something like 42% margin. Even for 9 months, the margins look good. So , like going ahead, like what stops us from adding more hubs if there is no impact as such of expansion in terms of our margin performance or we don't have any restrictions or basically the constraint on the capital side, then what stops us from adding more hubs going ahead?
Sure. Got it. And the second question I have, like for -- this quarter has been good, but even for 9 months, our volume growth has been around 13%. So, is it possible to give how the distribution is in the core and non-core markets for volumes?
Vijaya Diagnostic Centre Limited CC-Mar25.pdf · 2025-05-12
Yes. Thank you so much. M a'am, in the initial one of the questions, we said that in Pune, basically, we had cut down some of the B2B contracts because of the profitability issue. But going ahead, like whenever we, as a diagnostic company enter into newer geography, there is always a tendency as a new player to add more B2B contracts to increase the utilization. So, for us, is that a bit different like we would continue to focus on B2B from day 1 itself?
Sure. And so then basically, despite Pune being a corporate hub for many of these companies, you would try to avoid those kind of corporate contracts?

Neuland Laboratories Limited

Neuland Laboratories Limited CC-Feb26.pdf · 2026-02-09
First question I have on the margin. Partially, you have answered this question in your opening remarks. I understand why EBITDA margin could be lower because of the top line being lower and the fixed cost having to pay. But on the gross margin side, even if you have 1 product, which is on the CDMO side, which might be on high gross margin side. But what it tells that the remaining portion of the CDMO has lower gross margin compared to the prime segment. Is that understanding right?
See, despite having higher CDMO share during this quarter, our gross margins have moved down so does that mean that the CDMOs gross margins are lower than the prime API gross margin?

Anthem Biosciences Limited

Krishna Institute of Medical Sciences Limited

Krishna Institute of Medical Sciences Limited CC-Mar25.pdf · 2025-05-13
Congrats on good set of numbers for the management. I have first question on the Telangana cluster. So the cluster has helped us to deliver a better margin this quarter despite losses in the newer units. So there is a good 200 bps jump Q-on-Q in the Telangana cluster, while the occupied beds are largely the same. Is there any specific reason for this jump? And should we assume 32% margin for the cluster being a new normal?
So basically, the volumes from the highest ARPOB specialty have increased. That's the reason why the margins have increased?

Piramal Pharma Limited

Piramal Pharma Limited CC-Mar25.pdf · 2025-05-15
Congrats to the management on a good quarter. So first question I have is on the $180 million -- $179 million revenues we have generated from the patent protected commercial sales in FY '25. As I understand during the -- like while finishing your remarks, you mentioned that the FY '26 could be kind of a muted year on account of lowering the sales of the commercial. So where do you see this $180 million number to be in FY '26?
So is it fair to say at present, we don't have orders for the customer for at least for the next few months?
Piramal Pharma Limited CC-Dec24.pdf · 2025-01-29
Thank you for taking my questions and congrats to the management on a good set of numbers. The first question I have is on the CDMO piece. This quarter we have delivered something like 18% growth. Is it possible to give some color on how the growth is divided between the development segment as well as the commercial molecules?
Sure, and considering the biotech environment is improving, you expect FY '26 to be better for development side of the business?

Max Healthcare Institute Limited

Max Healthcare Institute Limited CC-Mar25.pdf · 2025-05-21
Thank you so much for taking my question. Congrats to the Management on good set of numbers. First question I have, if we can give information on the profitability of the acquired units like Nagpur, Noida, Lucknow for the quarter?
Sir, the reason I wanted to ask because how much margin expansion still can happen in these units, except Dwarka, obviously, which is recently commissioned. But the other 3 units, how much margin expansion scope is there for next 1 to 2 years.

Dr. Reddy's Laboratories Limited

Dr. Reddy's Laboratories Limited CC-Mar25.pdf · 2025-05-09
Yes. Thanks for taking my questions. The first question I have is on the gross margin drop. Price erosion was one of the reasons given for the gross margin drop. So , is it possible for the management to give us s ome understanding on what the US business price eros ion is for the year? And how the US business has done for the year, FY26, excluding gRevlimid?
Sure. And the U S base business - how it has d one for the year? It has grown ? How has it performed?
Dr. Reddy's Laboratories Limited CC-Dec24.pdf · 2025-01-23
Thank you so much for taking my questions and congrats to the management on a good set of numbers. So, first question I have is on Semaglutide. We understand that Dr. Reddy's is one of the players who have filed for the Canada market , where the patent expiry is expected somewhere early next year. At present, there are two to three players for this market. By the time we would be launching this product in this market, do you expect the players to increase? Or what would be the competitive scenario at that point of time? Also, if you can also explain Canada market, how similar is it with respect to US, when it comes to price realization, market share gains, etcetera, how easy or difficult it is to gain market share in Canada? Particularly because we have seen in case of Revlimid ®, there were a few players who had filed for this product even for Canada, but ramp-up had not been very encouraging. So if you can give some colour on the Canada market with respect to the Semaglutide opportunity.
Sure. And one more question related to Semaglutide. Considering there is too much demand, which is expected to be there when the generic players entering this market all over the world. I believe, from the supply point of view, there would be a constraint in terms of both, API as well as the pen assembly lines? So, how are we going to ensure that our execution would be better there? Are we blocking some of the capacity, both in the pen as well as API side? How are we going to keep that thing in check?

Global Health Limited

Global Health Limited CC-Dec24.pdf · 2025-02-05
Thank you for taking my question and congrats to the management for the good set of numbers. I have first question on the performance which we have shown in developing hospital that the occupancy has gone up to 64% during this quarter. Should we consider this occupancy as a base case going ahead or is it sustainable ? Or you expect this occupancy to normalize in coming quarters?
Just to summarize, it's fine to assume that the occupied bed will continue to increase in coming quarters.