Sharing an in depth video on Pharma Value Chain by SOIC
Will this be the Next Megatrend in Pharma Sector? 🔬💊
Neuland is discussed in depths from 16 to 22 minutes on the time line.
Hope you find is useful
Invested and Biased
dr.vikas
Sharing an in depth video on Pharma Value Chain by SOIC
Will this be the Next Megatrend in Pharma Sector? 🔬💊
Neuland is discussed in depths from 16 to 22 minutes on the time line.
Hope you find is useful
Invested and Biased
dr.vikas
Some of the points to ponder upon are:
Optionality 1: The Kavach system. As per the management, this contract/order could be of 15K to 20K sites. If we compare this with the BSNL order then it is hardly 1/5th. Meaning it can translate into orders worth 2K to 3K Cr.
Optionality 2: The BharatNet Phase3: As per management the total equipment required for this could be somewhere in the range of 4K to 5K Cr. Also the chances are this tender could be allotted to more than 1 player.
Above both orders will have to be executed (if and when it comes) in 18 to 24 months. Thus revenue contribution from these orders would be not more than 2 to 3K per year.
Optionality 3: International business. The management has categorically said that these orders would be much lesser than the BSNL orders. There can be number of orders but the size would be relatively smaller.
Moreover, the company is currently doing POC with the international clients, which are long dated ones and hence it will take some time for the actual orders to come in.
The management has avoided commenting anything on the orders post FY26 and have also avoided commenting on the pipeline as well.
Disc: Invested.
If you go through the last conference call, management acknowledges the difficult last 7-8 years and finally the tide has turned favorable with strong tailwinds. If anything the past has taught them to be more conservative and they are diluting and raising capital cushion probably at the right time.
While discounting business performance and capital allocation track record we should also be considerate of the operating environment and challenges thereof.
Disc: Invested from lower levels, booked partial profits in the 1400-1500 range.
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