Results are quite lukewarm. CDO/CDMO business has been slipping down further and not sure if management will be able to scale that up. It’s not an easy business and very few in India have been able to establish presence in this space.
Only bright spot was margins that picked up this quarter but still doesn’t compensate flat topline.
Disc- Small quantities received from Aarti Industries merger. Keeping for tracking purpose as I’m also interested in their CDO/CDMO play.
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