Questions across 6 calls

Sudarshan Padmanabhan

JM Financial PMS

Ajanta Pharma Limited

Ajanta Pharma Limited CC-Sep24.pdf · 2024-10-28

Congrats on great set of numbers. Sir, my question is to understand a little bit more on the other costs. So even if I remove this Rs. 25 crores FX, I mean I understand that you did say that there is going to be an increase d SG&A, the amount seems to be on the higher side. So if you can explain whether the entire amount, the increase that we see between the first and the second end quarter, excluding the FX, is largely only the SG&A costs or is there anything else? Second is, if I'm looking at the SG&A cost s as well as the sales and the launches, we are heartening to see that we are growing much faster than the IPM, that's for sure, and the new launches is also something that excites us. In terms of volume, I mean, when I looked at it, while the industry itself is growing less than 1% and we are growing at around 1.2% and new launches is about 3%, can you drive some color with respect to the investments that we are doing into MR expansion and probably the SG&A? How do you see the volume growth for yourselves, say, in the next few quarters and few years?

So that should be the number that we should be looking at from a reasonably longer term, not necessarily taking every quarter...

Ajanta Pharma Limited CC-Jun24.pdf · 2024-07-30

Congrats on good set of numbers. Sir, my question is to understand in the Cardiovascular business of ours. I mean, in the last 2 to 3 quarters, we've basically seen the growth a bit muted. If you can give some color with respect to now that we have been ad ding MRs. And the other segment specifically with the MR s continue to remain pretty strong. How do you see this segment gathering momentum? And what actions have you taken there, sir?

Yes, sir. Normally, when the market leader takes a price cut and they have such a strong market share, eventually, with the lag, we will start getting the market share back. So that would be visible probably in the first quarter. And we should gather momentum as we move to the second and third quarter. Is that right, sir?

Syngene International Limited

Syngene International Limited CC-Sep24.pdf · 2024-10-24

Sir, my question is on a little bit more deeper in terms of the nature of the incremental inquiry that you're getting. I want to understand a little bit more on this primarily because if I look at last 5 year trajectory for us, we have done so much in terms of not only even bringing capacity but also capabilities, right, if you look at from peptides, oligonucleotides et cetera. So I would like to understand, toda y, when you are getting inbound requests from clients, whether it is Biosecure Act, which is moving the change or even a Europe Plus One story, whether that capabilities are something that is getting tested today? And how do you see traction moving, say, in the next 2 to 3 years?

Sure. But what I'm trying to understand here is -- yes.

Acutaas Chemicals Limited

Acutaas Chemicals Limited CC-Mar24.pdf · 2024-05-13

Sir, my question is to understand what would be the utilization across your specialty chemicals under pharma intermediates firms?

Sir, my second question is to understand the operating leverage and the margin because in the fourth quarter, we have basically seen 19% margin despite of gross margins being lower. So while we are talking about 25% -- I mean I would understand that the growth in EBITDA and profitability should be much higher, given that -- as this 70% utilization goes up and as the Unit 2 increases, the margins will also kind of improve substantially. So can you give some color on what is expected in margin expansion?

Blue Jet Healthcare Limited

Blue Jet Healthcare Limited CC-Sep23.pdf · 2023-11-15

On the Mahad unfortunate accident, I just wanted a little bit more color. Because if I understand, this facility currently contributes negligible or this facility is prospectively going to contribute over a period of time. So, one is on the current phase, it shouldn't have much of an impact, is that right? Second is, from the client side, given that we had impeccable records in the past, as you mentioned, has there been any kind of communication with respect to, because a lot of our clients are MNCs, and they focus a lot on ESG. So, has there been any kind of actions that you will have to put in other facilities?

If I look at primarily in the Saccharin business as well as the contract medium, it's my understanding that we have a long-term arrangement. So, we basically would have visibility in terms of volumes across the year. But is that a fair understanding that one is the drop that we saw in the sweetener, it would primarily mean that the business is not necessarily linear on a quarterly basis, but on a full year basis, the volumes more or less would be achieved. And secondly, specifically to the CMI, if the slower growth or the fall in the top line, it is more to do with the fact that we operate on a gross contribution per kg. And if the raw material falls, we basically pass on at least partially or fully. Therefore, the gross contribution per kg on a lower realization is higher, which results in better gross margin. Is that a right understanding?

Navin Fluorine International Limited

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

Sir, I mean, just taking your earlier commentary, introductory commentary about the aspiration of forging more longer-term contracts, one is if you can give a little bit more clarity with respect to if one is looking at the business, the long-term contract gives stability, but lose versatility in the sense that between moving one type of molecule manufacturing to another. So, in your opinion, how much of say two years, three years down the line would be...

Sir, my question is more on understanding on the long-term contract expiration. So, we have seen a few long-term contracts getting signed. But over a period of time, how much of revenues or scale do you expect -- or do you want from a long-term contract because it is also sacrificing stability for versatility. So, one, on that strategy, what is your thought process? The second is on the business perspective, I'm not looking at a segment. But as a whole, we're seeing Agri specifically going through a lot more pain. So do we have enough engines on the non-agri side, I'm talking about, say, pharmaceuticals and others to offset the impact, at least in the near term for any weakness, if so, on the agri side.