Questions across 5 calls

Madhav Marda

Fidelity

PI Industries Limited

PI Industries Limited CC-Nov25.pdf · 2025-11-12

Thank you so much for your time. Sir, two questions. The first one is on the Pharma CDMO business, which you are looking to grow. As we understand, looking at many of your peers in India as well, it is slightly a longer gestation business. Just wanted to understand where we are in that journey in terms of building up the pipeline. And if you could give some color in terms of how many projects we are addressing and how many are in Phase I, Phase II , Phase III? If you could give some color there on our sort of pipeline, that will be helpful to understand the business better.

Understood. So currently, how many Phase III programs do we have?

PI Industries Limited CC-Mar25.pdf · 2025-05-20

Hi, good afternoon. Thank you so much for your time. Sir, one question, I think we have NCE which you said has reached Phase -3 trials. Just wanted to understand that if you will be launching our own branded product in the market, does that create like a longer-term conflict of interest with our existing model which has been a more contract manufacturing CSM model and we partner with?

I just asked because our branded business is more focused than India, whereas our exports used to be more contract manufacturing driven, so that is why the question got it?

Dr. Reddy's Laboratories Limited

Dr. Reddy's Laboratories Limited CC-Mar25.pdf · 2025-05-09

Hi. Good evening. Just a follow -up to the previous question. Could you help us maybe understand the sizing of the generic semaglutide opportunity for us in markets such as Canada, Brazil, and the other larger Emerging Markets (EM) where it goes off patent next year? We, obviously, have invested in capacity for generic semaglutide. And , what we understand, looking at penetration rates in, let's say, Canada or Brazil, it is severely underpenetrated, because supply was short and obviously, it was at a very much higher price point. So , as some of these product supplies comes through and prices go down, how do we see the volumes expanding for this product, let's say, in Canada and Brazil? If you could give us some sense there, that will be great.

Okay. So, the 10 million pens which you mentioned, that's the Canada market size today, right? Did I understand that right?

Alkem Laboratories Limited

Alkem Laboratories Limited CC-Mar24.pdf · 2024-05-29

I just had one question, which was if you could just remind us on the tax rate we said when that kicks in and what could be the sectors tax rate maybe for FY'27?

Navin Fluorine International Limited

Navin Fluorine International Limited CC-Sep23.pdf · 2023-10-31

My first question was the deferral that we are seeing in Q2 across sub-segments. If I were to look at -- because if it's a deferral, does it goes to Q3 or Q4, for example? Is it fair to assume that the revenue that we had planned for FY '24 as a whole, that doesn't change because of the deferral? Or can we beat capacity constrained because some of our original Q2 production is now happening in Q3 and then that creates a challenge? Just wanted to get your thoughts there.

Got it. Understood. And then just on the R32 plant. So, like you mentioned that the order book is robust, and that's good to know. Like are we selling most of it in the domestic market or export? And are we like tying in some of the R32 volumes for CY '24, there's specific customers or this will be sold completely on a spot basis, if you could help us understand that.