I want to visit some 9-month numbers. So can you highlight the bed count addition exact in this 9 months? And where all have you added these beds?
So can you split the occupancy between these new additions, including the acquisition and base business because occupancy has largely started 9 months at around 69% in 9 months versus a similar number last year? So I guess there's some drag on overall occupancy from th ese new additions. So what's that number be like?
Yes. So my question is linked to the bed expansion plan. What we see from your margin metrics over the years is that almost 35% - 40% of beds, they tend to be in the less than 15% EBITDA margin range. Now can you give some colour on the bed expansion plan? How much of beds are getting added in this less than 15% EBITDA margin range. I suppose that there are -- I mean, more of these certainties are operating our occupancy of more than 50%. So absorption of fixed costs via a number of -- more number of it is perhaps the only way you can improve your margins structurally in these facilities?
Sir, but if your occupancy of 10% to 15% EBITDA margin range, facilities is 67%, less than 10% is also not too bad at 54%, so what are the chances of EBITDA margins in these facilities improving structurally? I mean, I fail to understand how that will kind of happen.
I wanted to understand the India numbers a bit better. So ther e is a divergence what you were suggesting between the primary sales and the secondary sales. So, 1Q, 2Q were much better possibly on the secondary side and -- so on the primary side and this quarter, the primary is worse off than secondary. So any particu lar reason for this divergence between the two? And when do you see this anomaly getting corrected in the business?
So you will be back to a 10% growth level from 4Q. Is that correct understanding?
Hi. Good afternoon. My first question is on the capacities. With the new block coming on stream in Unit-II, and we have commissioned in Q 1 as well, can you talk about the revenue potential from these two capacity additions? Also, if you can help us with Unit-III utilization, suspecting it might not be fully utilized yet. How are Unit-III kind of shaping up?
Right. What we are hearing from the industry, from your peers and your commentary as well in the last 6-9 months, there is an inflow of RFPs to Indian companies, there is a better order backlog for the companies. Basis this Rs. 450 Cr of gross block that is to be absorbed by Anthem over the next 2-3 years, you are not at loss of capacity for any increased RFPs that are coming your way, right?
Good evening, all. Many congratulations to the management for such great numbers. So, my first question is slightly higher level. Sai Life Sciences is doing phenomenally well. We are seeing it last quite a few quarters now. Also, we are seeing the industry overall, many of the companies are also doing pretty well in terms of new customer base, and that is starting to get reflected in numbers as well. So, I just wanted to revisit the broader thoughts on the industry. What's happening? Is it really China Plus derisking that is kind of starting to play out, or Indian industry itself has gone to an extent, or they have built capabilities over the ye ars, that irrespective of China Plus One or not, the companies are starting to win more contracts and are able to demonstrate better visibility in global CDMO space?
Okay. So, the current road that your company is kind of on, the path on which your company is on, were you always fully confident, let's say 2-3 years back, that this growth will emanate, or something has changed in the last 12 months, which is kind of accelerating this growth?
Good evening, all. I think your comments on margins and growth are kind of pretty well understood, for me at least. The challenge I see is that if I assume a 400, 500 crore of CAPEX over the next three, four years, I don't find the asset turns to be improving quite meaningfully from where they are at currently. Given that the utilization is at 65%, I estimate that the asset turns on a full balance sheet basis will be 0.5 to 0.6x, and on a fixed asset turns basis will be 1.1x to 1.2x. So, any particular reason why asset turns are slightly on the lower side for a business which is also 40% into CRO?
Okay. So, just trying to understand the capital efficiency of the business, where does it settle at? Because margins are improving this year. I think, if let's say all goes well in 4Q and you close FY '25 with 24-25% margins and 65-67% utilization, which is what you have disclosed, the capital efficiency of the business or return on equity will be 9-10%. So, what are your thoughts over a 3-4 year period where this capital efficiency number can kind of settle at if there is no major levy available on the asset turn side?
Good morning, all. Many congratulations to Naresh Bhai and team for such great execution. My first question, Naresh Bhai, is on your management commentary that the pipeline of CDMO projects is progressing well. So, just wanted to understand, are you talking here about the current couple of patented products which are kind of scaling up? Or you're also talking about projects which are beyond, let's say, FY '27, '28, which will kind of progress to Phase-II, Phase-III in the next 12 months, and you will get visibility over the next 12, 15 months or so. So, I just wanted to understand if you can split between the next 12, 15 months, and beyond that as well, what is the visibility you're getting on some of the patented projects that you would be working on?
So, can we extrapolate, sir, that the current success that you are seeing on the patented side, that is leading to better and more inquiries ever since this success has been visible to other customers as well? Can it be assumed?
Sir, I first wanted to check on Sunshine. I believe there were some rental cost savings that were to commensurate after the new facility opening up. So just wanted to understand, is 4Q FY '24 fully incorporating the benefits of those rental cost saving or there are more -- yet to come through in FY '25?
So the margin going forward has to be looked at from a base level margin of 26%, right? Is that the right understanding?
Hi all. Good morning. Sir, I have a few sets of questions. My first question is on the mix in AP in Telangana. You did mention that the transplant surgeries were a bit less this particular quarter, but historically what we have seen is that ARPOPs tend to be better in 3Q while there is an occupancy dip, but the mix tends to be better. So, what exactly has happened on the ARPOP side in the third quarter in both AP and Telangana, why there is a dip on a sequential basis apart from the dip in transplants?
So, do you see that a lot of this is lost revenues or do you see that a lot of this work is coming back in the more near term?
I think the company has ended up full year on a great note. While I think my first question is around the return on capital profile of the company, while I think this year, especially second half has turned out really well, but I think there is still a bit of desire that is there in terms of return on equity, the return on capital metrics for the company. So, can you share some thoughts on three to four years ' view? How are you seeing your return on equity or return on capital employed shaping up in the coming years? Are there some hard targets that the bo ard has set and then the management has to kind of deliver on those metrics?
If I am not wrong, sorry, I joined a bit late, your guidance on top line for a three to five-year period is low teens, right, if I get that right?
On the contrast media business. You talked about nominal growth in the existing business and step up only when the new products will come on stream in 4Q and 1Q of next year. Can you give some color on the addressable market of these launches that are planned in the next six months-nine months in terms of how big is the addressable opportunity, what can be the volume market share that Blue Jet is looking to target in these products, so that we can get some understanding as to what can that step up be once the business growth gets exhausted?
The launches that are planned in contrast media, all of them are NCEs?
My questions are centered around the hospitals business. When I look at the expansion plan, the projects that are coming onstream in FY25, they are towards Q4 FY25. On the Pune side, the phase-1 is coming up in Q1, but I am not sure what the stage of development there is? But it seems that a lot of the expansion plan is quite back-ended towards FY25 perhaps in FY26. So , till the time these expansion activities come onstream, how do you see growth for the hospital business especially with ARPOB growth being so strong for the last few quarters and occupancy also reaching 68%, does it mean that the growth without the new expansion is kind of coming to a plateau side or some sort of a stagnation now?
Just a quick follow up on this. So, I don't know if you can give a number or not, but can it be expected that even without expansion plans a low double-digit kind of a growth is achievable on the base that you are at currently in 2Q?
Just a quick couple of follow-ups on this acquisition. Can you talk about the return on capital expectations three years out from this particular transaction?
With 30% EBITDA margins in year one, what are you most bullish on in this particular acquisition? Is it going to be elevated growth ? Past two-years CAGR has been 10%. Can the growth be much better in three, four years or do you believe that the margins can go up to, let's say, 40-45%? Because unless one of these levers picks up, don't you think it's pretty hard to achieve this particular hurdle rate that you are talking about?