Stockrabit · Analysts
Questions across 12 calls

Nitesh Dutt

Burman Capital

Rainbow Childrens Medicare Limited

Rainbow Childrens Medicare Limited CC-Jun25.pdf · 2025-07-28
I had a question on other income. This quarter, it has increased by 33% quarter-on-quarter. Is there a one-off component because basis the INR735 crores of cash, if I calculate basis, the cash yield, it should have been slightly lower.
Understood. And so, second question is on the matured hospital occupancy. There's been quite a fall of 11% Y-o-Y. How do you see it? Given that in the past, we have cited weather patterns, rainfall, et cetera, as reasons for the fluctuation. So was it one of the reasons or does higher competitive intensity or some degree of cannibalization were also the factors for the reduced occupancy Y-o-Y?
Rainbow Childrens Medicare Limited CC-Dec24.pdf · 2025-02-10
My question is related to the new hospitals that we added in Q4 of last year and Q1 this year. I think we have added close to 230 new operational beds. So what was the EBITDA drag because of these new beds this quarter? ·~ Rainbb w0 Children's the prior written consent of Rainbow Children’s Medicare Limited 11
Understood. Got it. Second question, the delays in 3 hospitals that you mentioned. Just wanted to understand the reasons for the delays. Gurgaon one, I think, you mentioned due to approvals. But for the remaining ones? And also any chances of further delay? Or do you think the stated time lines -- by those time lines, the hospitals should become active?
Rainbow Childrens Medicare Limited CC-Dec23.pdf · 2024-01-25
Hi, thank you for the opportunity. I have a question regarding our occupancy levels this quarter. These are some of our newer hospitals cannibalizing some of our mature existing hospitals and also is there an impact of increased competition for some of our hospitals and due to which the occupancy is lower?
Understood. Thanks for that. Second question, is it possible for you to provide occupancy data or at least occupancy trends by city? Lastly, wh at is the expected normalised occupancy levels going forward if you have a view there?
Rainbow Childrens Medicare Limited CC-Sep23.pdf · 2023-10-31
My first question is to improve my understanding of your business model . So, Rainbow's EBITDA margins versus other listed multi-specialty hospitals are significantly higher despite lower occupancies and similar in-range ARPOB. Rainbow's EBITDA is 30% plus typically, and other multi-specialty hospitals are usually at early 20s level. So, I just want to understand if there is a structural difference in our cost structure due to the pediatric focus business model, which allows us to make high EBITDA margin?
That is clear. ARPOB angle is clear, but is there any specific difference in cost structure as well, for example, cost of consumables or employee cost savings versus other hospitals?

Varun Beverages Limited

Mankind Pharma Limited

Mankind Pharma Limited CC-Mar24.pdf · 2024-05-16
Congrats again on a good set of numbers. I have a question on our manufacturing strategy. So I think it was mentioned in the RHP that roughly 25% of our manufacturing is by a contract manufacturer so I want to understand, number one, is it still at similar levels? And do we want to maintain the mix or increase outsourcing? And second, is this split amongst a lot of players sort of fragmented supply base? Or is it consolidated amongst a few large suppliers for us?
Got it, sir. How many partners do we particularly have?

Caplin Point Laboratories Limited

Caplin Point Laboratories Limited CC-Mar24.pdf · 2024-05-16
I have a couple of questions on the LatAm business. Number one, I want to understand the competitive dynamics a bit better. So, if you could just let us know who are the major players that you are competing against, what kind of companies, etc. And are they following a similar business model or doing something different in terms of distribution? Second, we have grown the LatAm business at 25% odd of CAGR for the last 10 years and expect high growth rate going forward also. But in my understanding, the market demand itself might not be growing that fast. So, what has allowed you to rapidly gain market share from the competitors? So, just these two.
Sir, do you see this strategy, which had been working for you in terms of having more registrations, more varieties, etc. Do you think the competitors also might start following similar kind of strategy and the intensity might increase? Because despite having 75% of the portfolio in gene rics, we make quite good gross margin s. So , would it attract more comp etition? Because if I take the example of India, in the trade generic segment people do not make that kind of gross margins. So, I just want to understand if we talk about five, 10-year horizon, can competitive intensity increase and thereby erode your margins and growth profile?

APL Apollo Tubes Limited

APL Apollo Tubes Limited CC-Mar24.pdf · 2024-05-13
My first question is on the shift between primary and secondary , two parts to it , one in your estimation over the last 2 years-3 years because of this increased delta, how much incremental share the secondary segment has taken from the primary that is one? And second, sir you have mentioned in previous calls that the secondary market is basically dying want to understand the intrinsic factors behind it, because some industry participants also believe that the markets will coexist as they have for past few decades, and there is a certain price sensitive segment which would still opt for secondary, so just want your perspective on if anything is changing in terms of customer preference etc., or that particular segment need?
Thanks for the elaborate answer. One more question from my side. So, if we look at the pipe player side or steel tube there including you, everyone is expanding capacity estimating good demand growth, so basically, every player is increasing their capacity by 2x to 3x over the next 3 years, 4 years, 5 years, but the demand is expected to grow in 8% to 10% or at low-teens, so do you believe that this can create an over capacity situation in the industry over next 3 years-4 years? Or do you think the demand will be sufficient to absorb the new capacities that are coming up?

Dr. Reddy's Laboratories Limited

Dr. Reddy's Laboratories Limited CC-Mar24.pdf · 2024-05-07
Thanks for the opportunity. I have a question on our manufacturing strategy for the India business. So, I just want to understand, number one, what percentage of your manufacturing in India is being turned in -house versus outsourced? And are you expecting to maintain a similar mix going forward and second for the outsourcing part, how many suppliers do we typically have? Is it like a fragmented supplier base or consolidated amongst a few companies?
India.

Sun Pharmaceutical Industries Limited

Sun Pharmaceutical Industries Limited CC-Mar24.pdf ·
I have a question on our India business. So I just wanted to understand our manufacturing strategy, basically two questions. One, what percentage of the production is being done in-house versus outsourced? And are you trying to maintain the same mix of trying to increase in-house? And also, is it like a concentrated supply base or segmented across a lot of players?
And sir, as government is tightening the norms, etc. For the contract manufacturer, so can you provide us an, again, opportunity to move in-house or improve our gross margins in that sense if you move some production?