Brijwanth, You are not considering the potential impact from Generics expected to be on Shelf from Jan 2016 .
Does it mean its impact on revenue would take time. I am still learning about Pharma Space, So keen to know all your views.

Disc : Invested recently 3% of my portfolio

During the year Inventory writedown is typically not routed through provisions. It would be adjusted in Inventory Valuations itself. So there typically is never a writeoff of Inventory Provision in financials.

In case of Avanti, provisions include –
1. Proposed dividend
2. Dividend Dist. Tax
3. Provision for tax

If they are planning a slump sale/transfer of shrimp processing unit, there would be a Capital Gain Tax for that which could affect Provision for Tax figure.

PVR Revenues came at 474 cr ,below lower end of my forecast of 520 crores. The estimates were off mainly because of the following reasons:

PVR’s share of Bajrangi bhaijaan collections came in at 52 cr vs 65 cr est. . this movie played more broadly across the country than i thought , collecting a bigger chunk of boxoffice collections outside of key urban areas.

PVR’s share of Bahubali revenues were at 36 cr vs 50 cr estimated. This was always going to be tricky.its difficult to project for regional movies as all sort of wild estimates float around .

F&B revenues were lower than i factored in, as per management this is because of reduced Spend per head due to higher contribution from regional movies compared to Q1.this also led to lower margins.

i will do a similar exercise towards the end of Q3 and see how close i come to actual figures.

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modest position <3% of portfolio . i trade in and out of stock based on the upcoming movie lineup and valuations.

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