“Nose dive” is too harsh a word. It’s 10% lower.
There is a presentation to be released and concall on Monday.
I feel that till Q3 Pharma was not doing well due to destocking globally. The RM was also undergoing inflation. I think this has put a momentary speed breaker on topline. Hopefully, now with Pharma doing well company should come on track with renewed vigour.
Also, need to see the status of API company -Biogenex. They are suppose to get PLI incentives of appx 11 cr annually. With all steroidal APIs being import substitute (mainly from china) sample approval and rampup should be fast.
Subscribe To Our Free Newsletter |