FY22 AGM Notes:
• Very Few Global Players in this industry
• Number of Customers increased to 6 – 3 major clients, 3 minor clients
• 1st Phase of Capex to be completed in Mid-2023; 70% in Plant & Infra, and 30% in R&D
• Total capex of 1st Phase – 80 crores (internal accruals)
• ICD – Safely invested (predominantly in Debt Funds)
• Running at 70-85% capacity right now
• Expect the Demand to be strong
• Concord Biotech is the only peer that will enter the listed space (DRHP filed). Anyways not too many players in public and private.
• FY22 – 20% volume growth
• No capex done for expansion yet. The ones done last year was purely for upgradation and R&D was partly for expansion
• No new customers have a take or pay or any other kind of arrangement. But they are planning to have it in future
• Rifa S – contributes 60-65% of Sales
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