Supriya Lifescience Ltd – pure play API

Listening to this call, some quick questions/comments:-

1. The mgmt alludes to sustainability of current margins on progression of the api basket (larger portion) to regulated markets. There seems only 4 or 5 of the 38 catering to regulated markets
2. The mgmt refers to some portion of money raised for inorganic growth – seems a bit surprising
3. The contracts with Supriya are still quarterly (why no long term?) despite 30 yrs in the business. This might allow price revisions. Given the high inflationary trends across the world, downward revisions is possible. How is it for other API players?
4. Opportunity size is still not known. However, Supriya’s market share for top 3 APIs is known with Divis competing in one of them.
5. Any price comparisons with low cost API producers? Perhaps, China could be the lowest cost – seen this in agrochemical space