Yes. Thanks for the opportunity, sir. My first question is on the R&D spend front. What we have seen in the last two-year period, sir, there is a back-to-back ~20% growth annually on the R&D spend front that we have witnessed. So , could you give some visibility about the work that we would have done on the pipeline build-up front, and the likely investment on the R&D side going ahead? And what build-up that we would have created so far as the future pipeline or the growth pipeline for us?
Questions across 4 calls
Surya Patra
Philip Capital
Dr. Reddy's Laboratories Limited
Thank for the opportunity. Sir, my first question is on the pricing trend that you would be seeing for gRevlimid. And how sustainable the pricing trend currently we are having for that? Because there are multiple rounds of new player entries that we have seen, so whether that has impacted the realization potential of the product in the recent period?
Then my first question would be on the domestic formulation business . So, obviously as per your indication, that you have taken multiple initiatives, to either introduce branded products or to expand qualitative products, long term, sustainable growth driving kind of products for the domestic formulation business. But in the initial period possibly may not contribute much. So, if you can give some sense, let’s say over a period of 3 years from now, what is the fair revenue mix that you should be seeing for your domestic formulation business?
SRF Limited
Thanks for the opportunity and congratulations for the good set of numbers. First question is on the specialty chemicals side. See, in the last 6-7 quarters, we have capitalized specialty chemical project over around INR 2,000 odd crore and generally we have been saying that our new projects are backed by customer ’s contract and all that. So, if there is a visibility now coming better in terms of the demand and all, so what is the kind of utilization that one can target in, let us say FY26?
So, that means if the trend reverses really, then by FY27 we will see the full benefit of this expanded capacities. That understanding would be right, sir?
Sir, my first question is on HFC. Now since the quotas are set and all that, but in terms of the volume, any sense that you can provide sir, because as it was earlier understood that the ban on Chinese supplies or Chinese dumping the US…
Ban in the sense, implied ban, I mean, the anti -dumping duty. So, because of that, it was expected that people would be a bit protected from Chinese dumping in the US market. But now it looks like that is no longer the case. So, if that is the case, if you can give some clarity about the volume progress that you would see in the calendar year 2024 based on the quota that has been set for our clients and all. So that would be helpful?