• 66.87% of revenue came from Export Market.
• Around 66% of the growth is driven by volume.
• Formulation segment grow at 5%.
• Ramping up R&D facility both for API and formulation.
• CAPEX previously planned has been in inline.
Aarti Drugs conducted their earnings con-call today at 4:00 PM
"Target of 4500+ cr topiline till 2025"
@unseenvalue @darshanvmehta1 @sonalbhutra @Milind4profits
Here are the key highlights 😀👇
• 66.87% of revenue came from Export Market.
• Around 66% of the growth is driven by volume.
• Formulation segment grow at 5%.
• Ramping up R&D facility both for API and formulation.
• CAPEX previously planned has been in inline.
• In September price has gone and has stabilize and after that the price is stable.
• As per current market scenario, mgmt expects 19-20% is doable, but its still not a new normal.
• Current API capacity revenue of additional 25%.
• Brown Facility and new green facility will be the main growth driver for the next 3-5 years, in order to achieve revenue target of 4,500+ cr in next 4-5 year.
• 40cr will go in this Q.
• Green field start in next year
• Company have applied for few products, and company expects one molecule to get but this will be announced in April. This product is for capital consumption (of around 60-65 cr), and 60-65 cr will external sales.
• This will have CAPEX of 120 crores.
Post PLI scenario:
• In the absence of PLI scheme company has already able to grab 70% of the market share from China.
• Hence PLI will be just a supportive add on for the business.
2 for intermediates, 2 would be PLI product,1 would be Chloro Sulphur for internal consumption, another will be skin care
• Chloro sulphur will have good margin.
• Metformin will have similar margins and export approval will also add margin
China+ Policy:
• This will definitely help the business as Aarti has good business diversification and diversified customer will help the business well.
• There are other local player in the market, hence they can also raise price.
• This will help stabilizing the margins.
• It was started in September and now it will be 4-5 year
• Almost 90% of the business from America and then from Europe.
• This benefit is not big as company as import too.
• With lower D/E and with D/E target of 0.7 (which is favorable for the business), company is planning for Term Debt (at 6-7%) and internal accruals for the CAPEX.
• Current Debt is 334 cr, out of which 186 is Term Loan.
• 9M CFO of business is around 140 cr
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Two things can be true at once:
1. There is an issue with hostility some academics have faced on some issues
2. Another academic who himself uses threats of legal action to bully colleagues into silence is not a good faith champion of the free speech cause
I have kept quiet about Matthew's recent outpourings on here but as my estwhile co-author has now seen fit to portray me as an enabler of oppression I think I have a right to reply. So I will.
I consider Matthew to be a colleague and a friend, and we had a longstanding agreement not to engage in disputes on twitter. I disagree with much in the article @UOzkirimli wrote on his research in @openDemocracy but I strongly support his right to express such critical views
I therefore find it outrageous that Matthew saw fit to bully @openDemocracy with legal threats, seeking it seems to stifle criticism of his own work. Such behaviour is simply wrong, and completely inconsistent with an academic commitment to free speech.
I am not embroiling myself in the various other cases Matt lists because, unlike him, I think attention to the detail matters and I don't have time to research each of these cases in detail.
1. There is an issue with hostility some academics have faced on some issues
2. Another academic who himself uses threats of legal action to bully colleagues into silence is not a good faith champion of the free speech cause
How about Selina Todd, Kathleen Stock, Jo Phoenix, Rachel Ara, Sarah Honeychurch, Michele Moore, Nina Power, Joanna Williams, Jenny Murray, Julia Gasper ...
— Matt Goodwin (@GoodwinMJ) February 17, 2021
Or is it only Eric you pop at?
Are they all making it up too Rob?
Are they "beyond parody"? https://t.co/drQssTD0OL
I have kept quiet about Matthew's recent outpourings on here but as my estwhile co-author has now seen fit to portray me as an enabler of oppression I think I have a right to reply. So I will.
I consider Matthew to be a colleague and a friend, and we had a longstanding agreement not to engage in disputes on twitter. I disagree with much in the article @UOzkirimli wrote on his research in @openDemocracy but I strongly support his right to express such critical views
I therefore find it outrageous that Matthew saw fit to bully @openDemocracy with legal threats, seeking it seems to stifle criticism of his own work. Such behaviour is simply wrong, and completely inconsistent with an academic commitment to free speech.
I am not embroiling myself in the various other cases Matt lists because, unlike him, I think attention to the detail matters and I don't have time to research each of these cases in detail.
