There is thing called safety of fund as well ,while idfc does give 1% higher intrest rates but most people including me would park there funds in safer banks like hdfc or axis bank. Not only for safety but better products as well ,you could easily recover that 1 % by better credit cards alone .

From wealth management to credit cards both the banks is miles ahead of idfc,idfc outsources it wealth managment to hdfc or icici as told by my rm.axis netbanking is also better then idfc cant say the same for hdfc but with idfc i have seen the phone banking crashing and i am unable to transfer the funds for some periods of time and this happened multiple times.

The only reason i am using idfc right now is 3 in 1 zerodha account and there no charges on debit card for international transaction and unlimited imps transaction.If i had the money i would park my money in axis or hdfc.

Notes from AR iro Eris Lifesciences for FY 21-22 -

1. Company remains focussed on brand building. Their top 15 mother brands clock in 80 pc of the company revenues. Company grew in double digits despite IPM growth of 1.3 pc ( only - due pandemic hitting acute therapies ). The same was due to company’s focus on chronic therapies. Field force productivity improved 15 pc during the year.
2. Company has exiting organic and inorganic growth opportunities ahead -
   (a) Rich pipeline of new product launches led by patent expiries in cardio-metabolic and allied segments.
   (b) Expanding coverage of specialists and consulting physicians.
   (c) Company’s push for early detection and better life cycle management through patient care initiatives.
   (d) Tech investments to improve sales force productivity.
   (e) Company is on the look out for high-return in-licensing and acquisition opportunities.
3. Currently, ERIS is ranked 22 in IPM and is the only pure play India focussed company in the listed space. Revenues have grown 6X in last 10 yrs and 2X in last 5 yrs. Company has maintained ROIC > 30 pc for last 12 Yrs. Chronic focussed portfolio contributes 91 pc of sales with 7 pc of sales coming from NLEM drugs. Company is ranked no 3 among diabetologists and no 4 among cardiologists. Company’s top 10 products are ranked among top 5 in their respective categories. Two of company’s brands rank no 1 in their respective categories - Gluxit ( Dapagliflozin ) and Zomelis ( Vildagliptin ). Another dominant brand from company’s stable is Renerve ( nutraceutical ) is clocking annual sales of 135 cr.
4. For FY 21-22, Cardio metabolic segment ( 60 pc of company revenue ) grew by 9.7 pc vs Mkt growth of 9.3 pc. Nutraceuticals ( 20 pc of business ) grew by 15 pc vs Mkt growth of 8.6 pc. Gross margins reduced from 84 pc to 80 pc due to increased investments behind new launches.
5. Therapy wise revenue breakdown -

Oral diabetes care - 32 pc
Cardiac care - 26 pc
Vitamins, Minerals,Nutrients - 20 pc
CNS - 7 pc
GI - 6 pc
Gynae - 4 pc
Pain - 2 pc
Others - 3 pc

6. Manufacturing infra - Manufacturing facility at Guwahati accounted for 74 pc of all products sold in FY 21. Also eligible for tax benefits till FY 24 and GST subsidies till FY 25.

Disc : invested, biased.

Anyone still tracking this? Out of favour for a long time now, but given the strong sales being reported by the luxury auto brands in India these days, their engine division must be doing quite well. I imagine the profitability there is also better, though it’s hard to know for sure. Given they don’t report contribution from different segments separately, the only numbers we get are the production and sales data for their Commercial vehicles and Utility vehicles. They have also been working with a couple of consulting firms on cost optimization - maybe that will show up in better numbers?

Just going by volume action, it looks like some modest accumulation is happening.

Thoughts?

At the end of the day both stocks Manappuram and Muthoot are falling due to FII selling. If you check the SHP, its clearly evident. They have booked their profits.

Re-rating is the answer.

When a business proves to be good in the long run, outlook looks promising… Market becomes willing to pay more.

Pidilite got rerated multiple times in last ten years.