Stockrabit · Analysts
Questions across 5 calls

Chintan Shah

JM Financial

UltraTech Cement Limited

UltraTech Cement Limited CC-Jun25.pdf · 2025-07-21
Hi. Thank you so much for the opportunity. So I had three quick questions and all three on India Cements. So first one is just a clarification of what you mentioned. So basically, the UltraTech rebranding from India Cements that will be sold to the UltraTech entity and all of that will retain around INR10 per bag or 200/t and rest of it will be retained in India Cements.
That's correct. Okay. Perfect. And second and the third one are more strategic. So first is what is the end plan with respect to India Cements? I mean, considering the synergies and integration would be at some point looking to merge this with UltraTech or be open to keeping it as a separate entity and what would be the rationale if we want to keep it as a separate entity? That's the second question.

The India Cements Limited

The India Cements Limited CC-Jul25.pdf · 2025-07-21
Hi. Thank you so much for the opportunity. So I had three quick questions and all three on India Cements. So first one is just a clarification of what you mentioned. So basically, the UltraTech rebranding from India Cements that will be sold to the UltraTech entity and all of that will retain around INR10 per bag or 200/t and rest of it will be retained in India Cements.
That's correct. Okay. Perfect. And second and the third one are more strategic. So first is what is the end plan with respect to India Cements? I mean, considering the synergies and integration would be at some point looking to merge this with UltraTech or be open to keeping it as a separate entity and what would be the rationale if we want to keep it as a separate entity? That's the second question.

Piramal Pharma Limited

Piramal Pharma Limited CC-Mar24.pdf · 2024-05-13
So, one question is slightly long term in nature. So, we alluded that EBITDA margins of mid- 20s while they are 3-5 years down the line, I just wanted to understand what would be the path from say 15% to 25%? What will drive this? Is it going to be CDMO or because I believe CHG there is not much scope for expansion. So, if you could highlight broadly what will drive this?
But just to, one follow-up on that, so the seasonality will continue to maintain, right? So, on a full year may be by Q4 would deliver 22 %-23%. Obviously, Quarter 1, Quarter 2, etc., would be much lower. So, what you are trying to say is that there is so much of utilization levels to improve that once that runs up, we will be able to deliv er on that margin and that Q4 margins we are talking about say 22% could actually be much higher, say around 20s or early 30s?
Piramal Pharma Limited CC-Sep23.pdf · 2023-10-30
The first question is , why we understand that we need overs eas manufacturing presence for CDMO segment as we intend to be closer to the partners, but for Complex Hospital Generics segment, which is more of a distribution like business , do we really need to have overs eas manufacturing facilities? If can you please help me understand?
And secondly, not from a near-term perspective, but from medium to long-term, which is, once things normalize, what sort of steady-state potential in terms of ROCE does the business have, if you can just maybe give a range or number etc.?

Havells India Limited