@Jadewade Agree to your thoughts, And if FII’s are back we can see another rally. Many new fund houses have formed like Jio-Blackrock, Zerodha and … And I would say if you don’t have any reason to pull out money… Stay invested …

Q1 FY25 CONCALL DETAILS

• Stelis

  • Won a contract in novel biologic – 10-year supply – top 3 global animal health pharma company. Product is yet to be approved, post that market formation will happen.

  • Teriparatide

    • PTH DDC is approved by UK MHRA.

    • Expect PTH to be launched in EU/UK in H2 FY25.

    • Will be out licensed to about 30-odd customers

  • GLP

    • Total 15 logos

    • 50mn$ capex would be needed to take fill finish capacity from 40mn devices to 200mn devices. It would take 3 years to get to that capacity.

  • 15 RFPs issued in Q1 FY25

  • Expect to have 50mn$ revenue and 35% EBITDA margin in FY25

• SteriScience

  • One of the largest buying groups in NA – 3 IP owned products – multiyear supply contract

  • 4 RFPs issued in Q1 FY25

• Capsules

  • Capacity went up from 1bn to 2.4bn.

  • Expanded capacity is fully booked. Will start utilizing the capacity from H2.

  • CDMO contracts from top 2 global private labelers will commence in H2 FY25

• OneSource

  • Expect 60mn$ of EBITDA for the year, exit run rate of 20mn$

• US Market

  • First full quarter of gSuprep sales

  • First dormant product – significant one – launched from Endo portfolio

• Growth Markets

  • Expect access market allocation to go up from 25mn$ to 33mn$

• Other Regulated Markets

  • Products in EU will be launched in H2

Disc – I have bought the shares of the company in the last 30 days. Not a buy or sell reco, not a SEBI registered analyst.

Mr. Shachindra Nath, Founder and Managing Director of UGRO Capital said, “At UGRO Capital, we have
set ambitious goals for FY25, and we are poised to innovate and expand our footprint in MSME lending.
Our recent rating upgrade underscores our relentless dedication to supporting the growth aspirations of
MSMEs and reflects the strength of our business fundamentals. Since inception, we have been and
continue to be dedicated to facilitating their success because we truly believe that ‘MSME Accha Hai’. As
the company marches forward on its path of sustainable growth, it offers a compelling opportunity for
investors seeking long-term value and returns.”

Key performance highlights for Q1’FY25

AUM of INR 9,218 Cr (up 36% YoY and 2% QoQ)

• Net disbursement (adjusted for SCF) stood at INR 1,330 Cr compared to INR 1,268 Cr in Q1’FY24
• Total Income stood at INR 301.6 Cr for Q1’FY25 (up 38% YoY)
• Net Total Income stood at INR 165.4 Cr for Q1’FY25 (up 32% YoY)
• PBT increased to INR 42.8 Cr in Q1’FY25 (up 20% YoY) as against INR 35.6 Cr in Q1’FY24
• PAT increased to INR 30.4 Cr in Q1’FY25 (up 20% YoY)
• GNPA / NNPA as on Jun’24 stood at 2.0% /1.2% (as a % of Total AUM)
• 164 branches (as on Jun’24)
• Ratings upgrade: Upgraded to IND A+/Stable for long-term and IND A1+ for short-term by India Ratings
  and Research
• Capital adequacy at 27.9% (as on Jun’24) on account of equity fund raise.

fc7ce196-b092-4c8b-aa40-f8cd77b715ce.pdf (2.8 MB)

Disc: invested

You will always have a fearful crowd in any market. Euphoria manifests itself in high liquidity, incredulous valuations, ultra positive views on TV and youtube from market commentators, a growing disconnect between price and fundamentals, and scant regards to earnings (stocks barely correct even after poor results and when they do they recover within a few weeks). And current market ticks all the boxes.