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Questions across 4 calls

Rehan Syed

Trinetra Asset Management

Laurus Labs Limited

Analysts/Institutional Investor Meet/Con. Call Updates Laurus Labs Limited has informed the Exchange about Transcript · 2026-01-23
Good evening to the team and congratulations for a good set of numbers and thank you for giving me the opportunity. So, sir I have a couple of questions , first on the CDMO side , like CDMO grew 88% in H1 FY'26, management has repeatedly warned that this business is lumpy. So, your consolidated Quarter 3 revenue grew only 7.5% sequentially over Quarter 2. So, my question here is your CDMO growth is H1 was phenomenal due to late phase NCE deliveries however looking at the sequential revenue growth in Quarter 3 , so it seems the lumpiness might be entering at a plateau, it's the revenue we see in Quarter 3, the new sustainable quarterly base for CDMO or did this quarter include a significant portion of registration basis and or large quantities that might not repeat in Quarter 4 or Quarters in FY'27. This is my first question.
Okay, fair enough . And sir my second question is around the OPEX done on specialized modalities. So, with the impressive PAT growth this quarter, the one from specialized modalities like CGT and ADC is less visible . So, however, as an analyst I want to understand the core efficiency. Could you quantify the specific quarterly EBITDA drag from these non -revenue generating activities and furthermore since you now recruited new leadership for ADCs , so is the INR 250 crore budget still sufficient or should we expect an upward revision in OPEX as you move towards bio-conjugation and fill-finish capabilities
Laurus Labs Limited CC-Jan26.pdf · 2026-01-23
Good evening to the team and congratulations for a good set of numbers and thank you for giving me the opportunity. So, sir I have a couple of questions , first on the CDMO side , like CDMO grew 88% in H1 FY'26, management has repeatedly warned that this business is lumpy. So, your consolidated Quarter 3 revenue grew only 7.5% sequentially over Quarter 2. So, my question here is your CDMO growth is H1 was phenomenal due to late phase NCE deliveries however looking at the sequential revenue growth in Quarter 3 , so it seems the lumpiness might be entering at a plateau, it's the revenue we see in Quarter 3, the new sustainable quarterly base for CDMO or did this quarter include a significant portion of registration basis and or large quantities that might not repeat in Quarter 4 or Quarters in FY'27. This is my first question.
Okay, fair enough . And sir my second question is around the OPEX done on specialized modalities. So, with the impressive PAT growth this quarter, the one from specialized modalities like CGT and ADC is less visible . So, however, as an analyst I want to understand the core efficiency. Could you quantify the specific quarterly EBITDA drag from these non -revenue generating activities and furthermore since you now recruited new leadership for ADCs , so is the INR 250 crore budget still sufficient or should we expect an upward revision in OPEX as you move towards bio-conjugation and fill-finish capabilities

Triveni Turbine Limited

Triveni Turbine Limited CC-Nov25.pdf · 2025-11-12
Good afternoon to the team. And thank you for taking my questions. As my most of my questions are answered, so first, I want just a bit understanding on the R&D side. So could you provide me just Triveni has consistently mentioned new product and technology introductions. So could you provide specific for any efficiency upgrades, higher capacity designs for module or turbine platform developed through in -house R&D and collaboration, just an understanding would be nice.
Continuing with this thing, let's say exploring if there's an opportunity with the small hydro , geothermal or green hydrogen wind turbines. So, where your existing design and manufacturing capabilities can be leveraged?

Five-Star Business Finance Limited