Concord Biotech Limited CC-Feb26.pdf · 2026-02-12
Just wanted to understand the contraction in gross margins despite, let's say, around 79%, 80% kind of API revenue contribution. Anything specific that you would want to call out?
Okay. Fair enough. One on the formulation business, I believe that 1H FY '25 had that Middle East tender or, let's say, halted but Q3 this time also, we saw me kind of decline. So, anything that you could call out in terms of why there is still, let's say, decline in the formulation business? And then how should one look, let's say, in terms of the future quarters?