Summary of valuation of Pharma companies by I-sec report.
Natco continues to be the cheapest, with 20% PAT growth projected ( by management on concall).
Rerating may happen if revenue or PAT have upside surprise.
D: Invested
Summary of valuation of Pharma companies by I-sec report.
Natco continues to be the cheapest, with 20% PAT growth projected ( by management on concall).
Rerating may happen if revenue or PAT have upside surprise.
D: Invested
Minda’s older goal seemed to gain a controlling stake in the company. When it couldn’t do that, they sold the shares. Minda isn’t in the investing business, so there is no need for them to keep holding in expectations of a higher price. A good business is better off investing in itself than others.
noob here trying to learn
why did minda sell with possible rate cuts around the corner and 2w sales picking up and good revenue prospects for the company. i dont understand somebody please explain.
They replied in concall that they rely on subcontractors and vendors, they should have issued its earlier not when noise started but they have got better in disclosure
Any examples of a good ESOP plan that worked well for a company and its shareholders?
Could you explain which chart pattern is this
Typically ESOPs being issued should increase total diluted shares outstanding. It doesn’t matter wrt there being skin in the game if it is at the cost of existing investors getting diluted. Companies that approach management with an ownership mindset usually buyback shares to offset any shares issued. Either way, I would argue a 0.5% increase is not much in the longer term as long as it is a one off thing.
Over the last couple of years, diluting shareholders to reward management and employees has been marketed as a move towards ‘ownership’ but we have seen cases like Lyft where the CEO was giving himself hundreds of millions every year in stock and like Musk with Tesla holding shareholders hostage for a billion dollar payout.
They should earn 71.6 lakh from this as they issued these for 2 rupees per share for eligible employees to buy, the money is usually reflected under cash on the balance sheet for most issuances.
The company seems to have handled their crisis communications as well as could be possible. They did a investors concall where they repeatedly stressed the governance issues were related to best practices around communication and unrelated to operational and financial issues.
Quoting from the transcript: "Well, I’m repeating that. I said, I’m reconfirming to you with no uncertainty, the points what he has put down to the Chairman are related to the process improvement and the transparency. I’m reiterating once again that there is absolutely and absolutely nothing about financial irregularities or non-compliance of any law or any requirements of this. "
Link to transcript: https://www.bseindia.com/xml-data/corpfiling/AttachHis/be1984b7-22b5-4c9d-b096-77da2bcf399c.pdf
They followed that up with a company statement last weekend: "Further to our disclosure dated 8th June 2024 regarding resignation of one of our independent directors, i.e. Mr. Marc Desaedeleer, we wish to inform you that at the request of the Chairman of the Company (i.e. Mr. Vinod Tanti), the Chairman of the Audit Committee (i.e. Mr. Gautam Doshi) has agreed to take up the responsibility of evaluating suggestions on corporate governance practices of the Company. In this regard, the Chairman of the Audit Committee has decided to appoint Khaitan & Co, an eminent law firm in India, to conduct a review. To further aid the process, certain additional advisors may be appointed as required from time to time. "
Link to statement: https://www.bseindia.com/xml-data/corpfiling/AttachHis/88342726-758e-4081-ae6a-dbcfa4e84730.pdf
My interpretation - this is certainly messy and something I would have liked to avoid as an investor. However the lack of detail in the resignation letter is also a concern for me. The management team should have given more specifics in their investors concall as well.
Disclosure: Invested.
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