Stockrabit · Analysts
Questions across 53 calls

Kunal Dhamesha

Macquarie

Max Healthcare Institute Limited

Max Healthcare Institute Limited CC-Dec24.pdf · 2025-01-31
Hi, thank you for the opportunity. The first one on the D warka. While we have done a very good job of breaking even , based on our reported number, if I look at the indirect cost in the Dwarka Hospital for the 140 beds, it seems to be roughly around Rs.150-Rs.160 crore a year , assuming that our direct costs are similar in line with the network average. So, my question is given that we are going to add almost around 1 ,400-1,500 b eds next year, how should we think about the indirect cost related to that? I know there are some brownfields etc as well , but again thes e brownfields are separate towers versus the current towers and all that, so there might still be higher kind of indirect cost there. So, let's say, all in all these 1,500 beds, what is the indirect cost that we should assume whether it's Rs.1,000 crore or Rs.800 crore or how should we think about that?
It would come primarily in the first year?
Max Healthcare Institute Limited CC-Dec23.pdf · 2024-02-01
So, first one on the institutional rates there has been some revision upward, some revision downward, but when we sum it up, let's say for the first nine month s what could have been the ARPOB impact in that channel . For the first half we had suggested the institutional ARPOB has grown at 28% year-on-year, if you could provide that number for the first nine months?
No, but last quarter we had said that institutional ARPOB increased by 28%?

Cipla Limited

Cipla Limited CC-Dec24.pdf · 2025-01-28
First one, can you provide your view on the recent comments from the US President on tariff on the pharmaceutical products and what is your base case scenario here and what could be a strategy in the worst case scenario?
And second is on the FY'26 outlook which you provided on a broad based you expect to see revenue growth in FY'26, could you provide more color on probably the segment wise growth expectation primarily US, I know you have indicated that Advair and Abraxane seems to be like more H2 FY'26 product. Beyond these couple of names, do we have other products which could help us grow? And second part to that question is how is the pricing erosion in the US market evolving in Q3 and in January?

Mankind Pharma Limited

Syngene International Limited

Syngene International Limited CC-Dec24.pdf · 2025-01-23
First question is on the momentum of RFPs which used to be quite high at least in the first half of the year while you're seeing some conversion, or we will see some conversion of those RFP. But how is the RFP momentum behaved in Q3 for us and let's say at the start of the year?
But would it be fair to say that the RFP momentum that we saw in the first half has continued in Q3 or is there some change? And a related question is after let's say a probable delay in US Biosecure, have you seen any change in the competitive intensity or strategy of our competitors with their forecast or maybe -?

Dr. Reddy's Laboratories Limited

Dr. Reddy's Laboratories Limited CC-Dec24.pdf · 2025-01-23
Hi, good evening and thank you for the opportunity. The first one on the India business. So we have grown at around 16% year -on-year, b ut if we just look at the core business, how that performance has shaped up? And we have also mentioned that there is some weakness in cardiac and gastrointestinal segment, lower volume pickup. So is it transit ory in nature? Or is there something more to be taken into account there?
Sure, sure. Erez, one more question on our biosimilar foray now. We have already filed Rituximab now, with Denosumab also filed, but with partner. So if you could throw some light on the economics here , for Denosumab? And in terms of, let's say, eventual launch, can we assume that this would be the second product after Rituximab and then followed by another one, Abatacept, is the way we should look at?
Dr. Reddy's Laboratories Limited CC-Dec23.pdf · 2024-01-30
Hi, thank you for taking my question and congratulations on a good set of numbers. First one, on the U.S. product launch and filing momentum. So, if I look at the first nine-months data, we have launched twelve products in the U.S., and we have just made eight new filings and our total pending ANDAs also have come down from 90 in Q4FY22 to now 79. So, is it because we are focusing on a few therapy areas, more complex? If you can provide some color there, would be helpful.
Sure, and then just a follow up on that. Now, we have acquired this MenoLabs, if you can provide some clarity as to how does this fit into our strategy? W hat was, probably, the last 12 months sales for these brands? And what is the acquisition value that we have paid, and does the increase in borrowing quarter-on-quarter relate to this? Erez Israelī: So, at the start, at that time of what we call Horizon -2, we decided to focus , in general, as a company, on three type of segments - NCE & NBE, I'm talking primarily collaborations or BD/acquisitions; OTC and nutraceuticals; and digital therapeutics. Specifically, for the U.S., we decided to focus on OTC in several areas, including working on digital aisle on our private label as well as brands in women ’s health. So, we acquired Premama in the past and now , we have complementary products, brands that were added to it. The idea is to create franchise in women health supplements. So, that is the kind of, if you wish, diversified U.S. business, to areas that have different patterns of demand and supply and the brand awareness. I don't recall exactly the sales of MenoLabs, because we are talking about the range of millions of dollars there. So, it is relatively small. We believe that we can take it from there.

IPCA Laboratories Limited

Alkem Laboratories Limited

Alkem Laboratories Limited CC-Sep24.pdf · 2024-11-13
The first one on the U.S. business. I believe that we are supposed to launch more than 1 product in this quarter, and there were a few relaunches were also planned in this quarter, but I see we've launched only 1 product. So are we expecting more products to be launched in the coming quarter? And how should we think about the U.S. overall run rate for FY '25, since H1 looks quite weak?
So sir, on a year-on-year basis, how should we think about? Will it be a slight decline on a year- on-year basis?
Alkem Laboratories Limited CC-Jun24.pdf · 2024-08-09
Hi, good evening. Thank you for the opportunity, and congratulations on a good set of numbers. One question on this product called Mirabegron, I believe we have a tentative approval for this product. So should we bake in as a near-term opportunity for us?
Okay. Sure, sir. That is helpful. And in terms of our EBITDA margin, with tracking around 20% in this quarter and we had given a full year guidance or the medium -term guidance that every year, we'll improve it by 100, 250 basis points. So where do and is there a meaningful change in a way we look at profitability now for our business ? And what has l ed to this meaningful improvement, what has driven the meaningful improvement for us in this quarter?
Alkem Laboratories Limited CC-Mar24.pdf · 2024-05-29
Sir, would you like to provide any broad outlook for F Y'25 in terms of revenue growth and profitability?
Just a follow up on the cost efficiency measures that we have taken, right. But when I see, let's say the improvement on a yea r-on-year basis from around 14% EBITDA margin to 17.7% in FY'24, majority of that is driven by the gross margin improvement and I think another 60 basis coming from the lower R &D expense. So, the cost efficiency measures , will it kind of be positively impacting us going forward or is it already baked into the improved gross margins?

Divi's Laboratories Limited

Divi's Laboratories Limited CC-Sep24.pdf · 2024-11-09
One of the GLP-1 for the project that we are doing for the already commercialized product, would you say the projects that we are getting are more of a supply chain derisking or would it be more like incremental supply that the innovators are seeking because some of these GLP-1 molecules which used to be on sorted lists, have been removed from FDA sorted lists and given that we'll be qualifying maybe a year later, what's your take on this?
The related question is for the Unit-III. Since it's starting in December, would it have a lot of fixed operational cost to start with and as and when we kind of ramp up gets basically leveraged. How should we think about that, for the first full year, would it be like a breakeven, in first full year EBITDA level or -?

Apollo Hospitals Enterprise Limited

Apollo Hospitals Enterprise Limited CC-Sep24.pdf · 2024-11-07
My first question is on the expansion plan. We have listed out the expansion for FY 26, and we have listed the project costs and the balance project costs. So, when I look at it, roughly 60% of the total cost is in the balance cost, right, so, how should we think about it? Do you think any spillover would be there? Because most projects have a majority of the cost that's still pending. So, how are we progressing in some of these expansion plans, which are slated for FY26?
My question is more on the timeline of whether we are comfortable that all the expansion that we highlighted will be there in FY26?
Apollo Hospitals Enterprise Limited CC-Mar24.pdf · 2024-05-31
While we have said that there are multiple vectors of growth, can you provide more quantitative details on the growth outlook for each of our top 3 businesses; Healthcare Services, Pharmacy and AHLL for FY25?
And just since we are kind of discussing the offline pharmacy, the growth in the quarter 4 is quite below the run rate, right? And we have highlighted that there is some liquidation at the front -end stores. So , can you quantify that impact, had that not been there, what could have our growth within that?
Apollo Hospitals Enterprise Limited CC-Dec23.pdf · 2024-02-09
So, the first questio n on the 24/7 GMV guidance that we had for FY 24 of around INR 3,000 crore. We have roughly done INR 2,000+ crore year to date. So, what is our expectation for full year and the next year? So, while we have achieved the breakeven at HealthCo level a quarter earlier than guided, that is good, but has that impacted the growth prospect of this business?
But sir, for, let's say, for 60% to 70% growth next year, you should have at least some sequential growth, right ; so versus this quarter sequential there is a decline of around 10%, right? So , I mean, is it a top task or is there something one -off in this quarter, which has...?