While Borosil supplies its lab glassware products to Pharma R&D, QA & QC labs + other institutes (Govt, educational & CROs), Tarsons has vast clientele to cater as far as sectors are concerned (such as Diagnostic chains, Hospitals etc.)
Even product portfolio is very different of both the companies – you will understand the difference if you visit any R&D or QA,QC lab of EU or US compliant pharma plant.
While the product of Tarsons don’t have any moat in pharma (as they are for very basic usage), glass has different grades which all the labs use as per their compliances.
Grade A glass is 2x expensive than Grade B glass and still most of the EU & US compliant plants prefer Grade A glass because it affects their studies in a big way (even a 0.01ml difference will impact production of 5lac tablets – just an example).
Also the reactions can’t be carried out in plasticware products, it has to be either glassware or a composite of plastic and other material (couldn’t recall the actual name). Plasticware items are used mainly for water dilution and other basic usage.
So both of them might be correct in their guidance as products are different and tarsons can’t replace those especially in pharma.
D – not invested in Tarsons but holding Borosil Limited.
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