Agree with you, CMO will also grow along with CDMO so % of CDMO revenue in over all revenue would be not much, but growth rate in CDMO would be high by FY25 end as they are commercializing few more projects.
Posts tagged Value Pickr
BCL Industries – Ethanol Pick (Capacity 3.5x in Next 2 Yrs) (15-08-2024)
Agree with your view.
Uptake in the margins of grain based distilleries is seems impossible as long as there is no availability of FCI rice. As distilleries keep on adding capacities but maize supply will be 2-3 years behind the required demand.
Dreamfolks services limited( DFS) (15-08-2024)
Their growth directly related to the airport foot fall and conversion rate of foot fall to lounge access.
20% increase in air traffic is easily possible.
Nitiraj Engineers: Electronic Weight Machines (15-08-2024)
Hi @avneesh are you planning to build more position into this (maybe at dips? Or upward averaging??) or will you exit post the poor results this quarter?
thanks
Beta Drugs Limited (15-08-2024)
Hi @Pragnesh @pranavpallod12, can you please share your current thoughts on beta drugs please, since you’ve been tracking it closely, would love to hear from you.
Gensol Engineering – A play on Energy Transition (Solar Energy & EV) (15-08-2024)
Shares have been pledged as collateral against long-term debts from IREDA and PFC for their EV leasing business. As the debt gets repaid, the pledge percentage should decrease accordingly.
Companies With First ever concalls OR Investor Presentations (15-08-2024)
Z-Tech (India) Ltd
Listed: 5 jun 2024
PPT:
https://nsearchives.nseindia.com/corporate/ZTECH_14082024075906_InvestorPresentation.pdf
Aarti Pharma Labs (15-08-2024)
Aarti Pharmalabs –
Q1 FY 25 results and Concall highlights –
Revenues – 555 vs 458 cr
EBITDA – 96 vs 85 cr, up 14 pc ( margins @ 17 vs 19 pc )
PAT – 55 vs 47 cr, up 18 pc
Revenue breakup in Q1 –
Xanthene derivatives – 54 pc ( seeing strong demand and sales in this segment despite the Chinese competition )
API + Intermediates – 44 pc ( 55 pc of this came from regulated mkts and the rest from RoW / unregulated mkts )
CDMO / CMO – 2 pc ( in Q4, it was 19 pc. This business generally picks up in Q3,Q4 ). Currently the company has 27 commercial projects and 26 projects are in various stages of development. Confident of growing this business by 25-30 pc in FY 25
Expect to complete the Xanthene brownfield capex by Q1 FY 26
Atali expansion ( for manufacturing of APIs + Intermediates + CDMO ) is expected to be completed by end of Q4 FY 25
Expansion of intermediates manufacturing facility at Vapi is expected to be completed by Q2 FY 25
Solar power plant that the company is in the process of setting up is likely to be commissioned by Q3. This will cater to 1/3rd of company’s needs and help reduce manufacturing costs
Company is seeing greater traction / enquiries for their CMO / CDMO work and are also seeing a shift away from China
Company’s Gross Margin profile generally fluctuates between 50-52 pc
Company’s CMO/CDMO projects are currently small. Expect project sizes to become bigger as the business scales up over medium term. All of company CMO / CDMO projects relate to patented molecules ( early stage and late stage intermediates )
LY the company did 175 cr of CMO/CDMO business. Expect to take it to > 220 cr this FY
Company agreed that the bio-secure act passed in US will act as an added tailwind for the company’s business
Lower GMs in Q1 is due to lower CMO/CDMO sales in Q1. As CMO/CDMO business picks up, gross margins should improve
Company is seeing greater traction / enquiries for their CMO / CDMO work and are also seeing a shift away from China
Company’s Gross Margin profile generally fluctuates between 50-52 pc
Company’s CMO/CDMO projects are currently small. Expect project sizes to become bigger as the business scales up over medium term. All of company CMO / CDMO projects relate to patented molecules ( early stage and late stage intermediates )
LY the company did 175 cr of CMO/CDMO business. Expect to take it to > 220 cr this FY
Company agreed that the bio-secure act passed in US will act as an added tailwind for the company’s business
Lower GMs in Q1 is due to lower CMO/CDMO sales in Q1. As CMO/CDMO business picks up, gross margins should improve
My Hunch – company may outperform its guidance on CMO/CDMO business and hence on overall company level margins. CMO/CDMO business is seeing a lot of tail winds for the Indian players
Disc: holding, biased, not SEBI registered, not a buy/sell recommendation
Ranvir’s Portfolio (15-08-2024)
Aarti Pharmalabs –
Q1 FY 25 results and Concall highlights –
Revenues – 555 vs 458 cr
EBITDA – 96 vs 85 cr, up 14 pc ( margins @ 17 vs 19 pc )
PAT – 55 vs 47 cr, up 18 pc
Revenue breakup in Q1 –
Xanthene derivatives – 54 pc ( seeing strong demand and sales in this segment despite the Chinese competition )
API + Intermediates – 44 pc ( 55 pc of this came from regulated mkts and the rest from RoW / unregulated mkts )
CDMO / CMO – 2 pc ( in Q4, it was 19 pc. This business generally picks up in Q3,Q4 ). Currently the company has 27 commercial projects and 26 projects are in various stages of development. Confident of growing this business by 25-30 pc in FY 25
Expect to complete the Xanthene brownfield capex by Q1 FY 26
Atali expansion ( for manufacturing of APIs + Intermediates + CDMO ) is expected to be completed by end of Q4 FY 25
Expansion of intermediates manufacturing facility at Vapi is expected to be completed by Q2 FY 25
Solar power plant that the company is in the process of setting up is likely to be commissioned by Q3. This will cater to 1/3rd of company’s needs and help reduce manufacturing costs
Company is seeing greater traction / enquiries for their CMO / CDMO work and are also seeing a shift away from China
Company’s Gross Margin profile generally fluctuates between 50-52 pc
Company’s CMO/CDMO projects are currently small. Expect project sizes to become bigger as the business scales up over medium term. All of company CMO / CDMO projects relate to patented molecules ( early stage and late stage intermediates )
LY the company did 175 cr of CMO/CDMO business. Expect to take it to > 220 cr this FY
Company agreed that the bio-secure act passed in US will act as an added tailwind for the company’s business
Lower GMs in Q1 is due to lower CMO/CDMO sales in Q1. As CMO/CDMO business picks up, gross margins should improve
Company is seeing greater traction / enquiries for their CMO / CDMO work and are also seeing a shift away from China
Company’s Gross Margin profile generally fluctuates between 50-52 pc
Company’s CMO/CDMO projects are currently small. Expect project sizes to become bigger as the business scales up over medium term. All of company CMO / CDMO projects relate to patented molecules ( early stage and late stage intermediates )
LY the company did 175 cr of CMO/CDMO business. Expect to take it to > 220 cr this FY
Company agreed that the bio-secure act passed in US will act as an added tailwind for the company’s business
Lower GMs in Q1 is due to lower CMO/CDMO sales in Q1. As CMO/CDMO business picks up, gross margins should improve
My Hunch – company may outperform its guidance on CMO/CDMO business and hence on overall company level margins. CMO/CDMO business is seeing a lot of tail winds for the Indian players
Disc: holding, biased, not SEBI registered, not a buy/sell recommendation