Q3 FY24 Conference call main points
The incremental growth (60℅) registered in this quarter has come from new molecules which has been developed ovr last 2-3 years.
Pyroxasulfone has gone generic in few countries and 10-15℅ price cut has been observed till now. It is going to go generic in other developed countries as well over the years.
The innovator for which PI is supplying this pyroxasulfone has got some extended patent registration for the formulation/combination making out of pyroxasulfone and this would in a way protects innovator and PI ultimately from the risk of pricing erosion.
PI has got 25-30 molecules in CSM buisness and so is pretty diversified in terms of overall product and revenue mix.
Some seasonality element on the dometic agri business side this quarter, management expects performance to improve and they have got quite a few branded products which they continue to market.
No guidance given by management for FY25, they would give it in Q4, reasonably confident of achieving 18-20℅ growth in overall business this year.
Recovered amount from the one off element is to the tune of 700mn.
Continue to work towards pharma, mainly towards improving infrastructure deploying resources and other development.
Pharma business to have similar margins as PI overall agri business margins (24-26℅).
Aspire to take pharma business to the 25℅ of overall revenue of PI in the coming 4-5 years.
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