My first question is on VISUfarma. So earlier you mentioned this will add around Euro 50 million - 60 million sales on top line and 25% margin. So just want to hear your thought on where do you look this business to grow in say, next two to three years and what will be the key focus segments here?
And the top line should comfortably cross say USD 100 million mark in two to three years If all these factors play out well?
My question is regarding Liraglutide. Vinita, how do you see this opportunity given market has clearly moved towards new gen products? And then do you have more peptides which are in pipeline to be filed in U.S. in near term?
And these are done through CMO’s or you're doing in-house?
Just wanted to understand your big margin improvement trajectory better. So, Ramesh mentioned it's a combination of multiple factors, but if you can help us understand say how much i s broadly contributed by process efficiencies which you have brought over last few years? And what could be broader contribution coming from new launches, et cetera, and leaving apart the inventory gain which you had seen during fourth quarter. So, very broadly, you can also help us understand which are the visible pockets of improvement, which is there for you. Because last quarter, I guess you, talked about your aspiration margins, so around 22.5 to 23% for next few years. So, any commentary on that will be helpful.
So from this exit margin rate of 20% plus, there is good headroom to go up to, say, 23%, if all these things work out for you.
Okay. Thank you. My question is on your EBITDA margin trajectory, a remarkable improvement which we have seen in last few quarters . So how should we look EBITDA moving from here on? And if you can also elaborate bit like where do you see significant headroom for improvement in terms of cost rationalization, et cetera? So that's my first question.
Okay. This 23% kind of margin, that should be over what three years to four years from now? What is your target in mind very broadly?
Yes. Thank you for the opportunity. Af ter a remarkable improvement in first half in terms of operating performance, how should we look at margin trends ahead? So, as you said earlier expected 18% margin by end of this fiscal but it came a bit earlier and now things seems to be on improving path. So how should we see margin trajectory from here on?
So, second half broadly around 18% margin.
My first question is again on biosimilars. So first, if you can give a split for FY '26 sales between developed market and rest of the world. And then if you can comment on 2 specific products, aflibercept, where you will be coming soon in the market as per your settlement date. So there, we have seen one of the earlier entrant going very aggressive in terms of taking market share, etc. So how do you see that opportunity? And second question is on Aspart, which you indicated is a key product for FY '27. So, what kind of visibility we have in terms of higher demand or like your capability to supply this product to gain meaningful market share from here on?
And the second question I wanted to ask is on your capital allocation going ahead. So, as you mentioned, you are done with majority of investment in capex, etc., and focus ahead will be on cash generation. But just wanted to have some more color on your focus in R&D. What kind of products you can add on to your portfolio, say, 2 to 3 years down the line? And apart from the Malaysia plant, do you have any other capex remaining from your end?
Hi, good morning all. Thank you for the opportunity. My first question is I want to understand your revenue drivers for innovative portfolio and biosimilars. So you mentioned in -licensing assets will play a key role to support growth for both the segments. So what kind of roadmap you have in terms of acquiring or in -licensing assets to support growth and in absence of any in-licensing assets what's your comfort on the growth for these two segments? So that's my first question. Thank you.
Sure. Thanks for that. And my second question will be on the biosimilars portfolio which has come to you. So in the past we understand you have been always assessing this segment, but not moved in. So now with six biosimilars portfolio coming in and you m entioned it's a good growing segment, what will be your key strategy to really grow this business and what kind of investment do you foresee for the segment? Yes, that's my second question. Thank you.
Good morning and thank you for the opportunity. This is Damayanti from HSBC Securities. My first question is again on Eugia. So, as you mentioned, the observation seems to be procedural in nature and it might be resolved within your stipulated timeline. But given we are yet to get full clearance from the FDA, what kind of trajectory we should build for or we should assume for the US injectable sales? In your opening remarks, obviously, you mentioned this segment has seen good pickup. So, if you can just talk a bit about it.
So, during the quarter, you mentioned injectable sales grew 7% or 17%. Sorry, I missed that number.
Hi. Good Morning, everyone. This is Damayanti from HSBC Securities. Sir, my first question is on gRevlimid. So, just to clarify, this ₹150 crores less number and then ₹550 crores less number versus Q4 is at the EBITDA level, right?
Okay, so this is at the revenue level, okay. That was good. My question is, on gRevlimid definitely pricing pressure has intensified and some of your peers have also mentioned this. So, from an opportunity perspective, do you think you can still make some reasonable sales from this product in FY26 or this is an opportunity which is broadly gone now?
Good morning, everyone. Thank you for the opportunity. Sir, my first question is on Generic Injec table business in the US. Sorry, I missed your comment , y ou mentioned it grew 6% quarter -on-quarter. So, a few clarifications. Are we broadly back to the level where disruption happened? And how do you see this business shaping up in the next two years? And if you can just talk a bit about some of the key pipeline products which you may have in your pipeline.
Sure. And if you can just remind us about when you are expecting Eugia III reinspection?
Hi, good morning. My first question is again on generic injectables in the US. So, you mentioned in 1st and 2 nd Quarter, already corrective steps are taken , and now things are broadly stabilizing. So, in terms of numbers, if you can say how much recovery we have seen compared to pre -disruption level? And should we assume it to normalize, say by 4th Quarter? And do you maintain your guidance for global Eugia sales for this year?
Sure. And just want to understand, do you need another inspection by the FDA, or it's like partly from you and remediations are done and then things can go back to normal level?