Sir, with almost 90% remediation of incremented and new approvals or launches expected, could you just guide us in terms of revenue in FY '25 in terms of revenue growth and EBITDA margin?
Understood. And for the quarter, there has been a sharp uptick for Europe sales. Anything you would you want to comment on that?
Thanks for the opportunity. Sir, given the kind of measures we are doing at Gagillapur, but at the same time, do we have any product should come up for approval over the next three to five months, which could be from this site. Any market action date?
Okay. And would you also share some thoughts on this generic toprol and metoprolol succinate? How has been the traction or sort of the business from that product?
Yes, thanks for the opportunity. So firstly, if you could highlight the surgical medical mix for developing hospitals, for the quarter.
I didn't mean the case mix wise. I meant there has been a decline in ARPOB, but the revenue has grown, which implies that the volume has grown significantly for the developing hospitals. So maybe there has been a higher proportion of OPD. Is that the way to understand? And hence the medical mix is higher for the quarter for developing hospitals?
Sir, just on these peptides again, so have we commercialized the liquid phase for the peptides?
With respect to this Unit-III, this is for like custom synthesis, generics, peptides, if you want to call out in terms of what kind of products we manufacture?
Sir, first of all, I missed your comment on the peptide block. You referred to something additional with respect to the investment. If you could clarify and elaborate on that first?
So, this will subsequently go through the exhibit batches to scale up batches and then the compliance and so effectively…. -?
Ma'am, just on the API side where the prices have been sort of reducing, now it's almost -- I guess, for 2 years, maybe partly because of there was excess inventory in the system because of COVID. But if you could comment whether this inventory in the system has been now stabilized? Or do you still see a subsequent -- still some time for stabilization of inventory as far as API segment is concerned?
Okay. So geopolitical situation is, in fact, adversely impacting the prices instead of -- and while the prices are reducing and while we have worked on the backward integration, so will we be able to protect the gross margin as far as the API business is concerned or gross margin is trending down, but we are able to maintain EBITDA margin because of higher volume offtake ?
The first question is with respect to the healthcare services margins, wh ile next year we will have good number of beds which are getting added, so, clearly the operational Transcript of AHEL Q2 FY25 Earnings Call cost would first kick in. So, still will there be a scope to increase the EBITDA margin by, say, 100 bps in FY26 over FY25?
And secondly on the EBITDA for HealthCo business where it's now like Rs. 50 crore, which is a significant jump over previous quarter as well. And given that we now have insurance product and concierge service in the second half of FY25, so how to think about the EBITDA for this business in FY25 and subsequently in FY26?
Thanks for the opportunity. Yes. So, first, to start with the bookkeeping question in terms of this milestone income and the profit share this quarter, could you share?
Okay. And the milestone income?
So, just to continue on this milestone income, is that the reason for the quarter -on-quarter drop in the gross margins for the base business?
Yes. So, I mean basically trying to understand the dip in the gross margin as well, both quarter- to-quarter as well as year -over-year when we had good relaunches or certain complex product launches as well in the quarter.
So just on Goa, the 483 observations, so in terms of resolving this or sharing the data with US FDA?
So subsequently, has there been any communication from the US FDA in terms of the response appropriateness or anything of that sort?
Sir, with respect to this Onco API, given that this is to do with the increased competition, so how do we -- how are we thinking to cope up almost INR50 crores quarterly sales dip which has happened in the Onco API?
That is for the Onco portfolio you're referring to, right?
Sir, with respect to this Onco API, given that this is to do with the increased competition, so how do we -- how are we thinking to cope up almost INR50 crores quarterly sales dip which has happened in the Onco API?
That is for the Onco portfolio you're referring to, right?
So just extending on this U.S. FDA thing, if you could also highlight what's happening with respect to Goa and Baddi side?
Understood, sir. So -- and further this, the gross margin, even on a quarter-on-quarter basis where our India, Europe sales has been higher, still the gross margin is sort of lower. If I think about it on a quarter-on-quarter basis, whereas even the raw material cost has been relatively subdued or soft at least as far as the industry-wide phenomenon goes. So if you could explain that.
Sir, on the gross margin front, firstly on an ex-Unichem basis, there has been a very healthy win. Is this to do with lower exports? And so as the exports scale up, would we see some rationalization of gross margin going forward?
So, this kind of gross margin is sustainable for FY ‘25 per se?
Okay. Sir, just on this IP volume for Sunshine, there has been significant increase both year- over-year as well as quarter-on-quarter. If you could shed some light on this aspect?
And so subsequently, sir, so what do you think the ARPOB will settle at as we ramp up in terms of patient volume?
Sir, on Caplin Steriles, will it be possible to share the gross margin, EBITDA margin?
INR19.3 crores. So, sir, and gross margin, how much?
Rajeev sir, first at the industry level. We are seeing this volume growth remaining quite muted, even FY'23, hardly 0% even FY'24, 0.9% or even 1Q FY'25 to be like 0.9%. So this shift towards trade generics. So will that sort of further reduce overall industry growth for next, let's say, 3 to 4 years, if you could share some comment on this?
No, no. So I mean to refer the prescription side of the overall market. So there, we will see growth is getting much more moderated to the way it seems over the next 3 to 4 years, it could go down to 6% or so.
Sir, I missed on the opening remarks about the employee expenses, if you could just repeat the same.
So, we should be probably Rs. 250 crores plus/minus per quarter sort of an employee expense in the coming quarters.
Ya, thanks for the opportunity. Just, again, on the North America sales, on the base portfolio which is like ex-Revlimid, as you highlighted, the price erosion is in the range of high single digit. And despite that the sales pegged year-on-year or even quarter-on-quarter, there has been a very reasonable jump. So, just to understand, if there was any specific product opportunity because of a product shortage or some competitor going away or how to think about the base business and the sustainability of run rate?
Got it, sir. And on the India base, sir, the growth has been quite moderate, ex Sanofi. So how do you think of scaling up this growth?
Sir, firstly on Lucknow, where we already have acquired Sahara, where you also plan to add 140 beds and then another tower of ~350 beds. So, if you could just explain conceptually the need for the buying land at Shaheed Path, Lucknow, that is my first question.
Understood, sir. Sir, but just that when we could have spread across maybe other cities of UP because peers are also trying to at least build-up 500 bedded hospital if not in Lucknow but in other smaller cities so that can sort of reduce the pace of patient flow to Lucknow, and they are also coming up with super specialty hospital like that.