BUSINESS
Aarti Industries: Multi-year contract opportunity intact
The third multi-year contract and the NCB (Nitro Chloro Benzene) capacity expansion project for Aarti Industries are expected to get completed in FY23
BUSINESS
Sun Pharma: Time for investors to exit?
Even though further traction in specialty products and domestic business is expected, we believe this may not be enough to offset the running expense on brands/products and field force.
BUSINESS
IPCA Labs: Growth outlook primed by domestic business
Ipca is adding 1200 medical representatives with a focus on Ortho, Derma, and Cardiovascular therapies
BUSINESS
Divi’s Labs: Steady margin profile amid cost headwind
Earnings trigger for the medium term is Contrast Media API opportunity, where there is limited competition
BUSINESS
Aether IPO | This niche chemical player is a leader of the pack. How?
The company’s success depends on identifying the molecule/product opportunity, investing behind R&D and implementing processes/integration to scale it up
BUSINESS
Zydus Lifesciences: Success in niche molecules key to growth
While we acknowledge that the COVID opportunity has significantly declined during this period, the company deserves attention purely on the basis of its valuation (10x EV/EBITDA FY24e) and domestic business
BUSINESS
Lupin: Pricing erosion intensifies in US
Near-term growth visibility is low due to a lack of major product launches, aggravating pricing erosion and input cost pressure for Lupin
BUSINESS
Dr Reddy’s: Acceleration in EM opportunity to help re-rate company
Dr Reddy’s area of focus in the domestic market includes hepatology, diabetic nutrition and its health-tech platform
BUSINESS
NOCIL: Strong pricing advantage; volume pick-up yet to be seen
While in the past few quarters, sales volumes have not picked up meaningfully, NOCIL is confident of hitting peak capacity utilisation by the end of H1FY24
BUSINESS
Ami Organics: New products to lead medium-term growth
The Ankleshwar facility expansion would enhance the capacity of pharma inter-mediates by 2.8 times. This would take care of the anticipated demand till FY27
BUSINESS
PPL IPO: Play on import substitution of non-urea fertilisers
PPL’s EV/EBITDA multiple of 5.6x is at a significant discount to its closest peer, Coromandel International, and closer to GSFC, which trails PPL in terms of return ratios by a margin.
BUSINESS
Balaji Amines: An eagle eye for import substitution opportunities
Balaji Amine’s project execution is worth noticing, due to which earnings potential has significantly increased over the years
BUSINESS
Cipla: Targets for US complex generics on track
Cipla is looking at launching inhalation product Advair in the second half of FY23
BUSINESS
Navin Fluorine: Multi-year contracts present a steady growth template
Navin Fluorine has posted a sequential improvement in sales, backed by high-value businesses – CRAMS and specialty chemicals.
BUSINESS
LTI-Mindtree merger: A complementary match
Post-merger, LTIMindtree will be the sixth-largest Indian IT company
BUSINESS
For the US Fed, 50 bps hikes are the new normal
The Fed’s balance sheet is likely to reduce by about $1 trillion in a year
BUSINESS
Apcotex: Medium-term opportunities priced in
Unstable macro and pricing environment are key risks to watch for Apcotex
BUSINESS
Atul: Focus is on enhancing vertical integration
Notwithstanding operational headwinds and higher working capital, Atul remains on track for a three-year capex cycle
BUSINESS
Rainbow IPO: A play on focused healthcare demand for children
Rainbow plans to add 500 beds/six hospitals in the next three years, with a focus on Hyderabad, Bengaluru, Chennai and NCR
BUSINESS
Bhansali Engineering: Delay in brownfield expansion caps volume growth; valuation fair
Import intensity across ABS value chain has reduced before the latest phase of lockdown in China and so it appears to be more a case of normalisation of channel inventory for Bhansali Engineering
BUSINESS
How much can PCBL tap into favourable supply-demand balance?
PCBL’s sequential sales growth of 5 percent was led by pricing growth, offsetting a 4 percent decline in volumes. This was chiefly due to supply-chain hurdles as export volumes were down 11 percent QoQ
BUSINESS
Kothari Petrochemicals: All set to harness capacity addition
Favorable supply-demand balance, new capacity and product diversification are key triggers to watch
MONEYCONTROL-RESEARCH
China’s macro blues: Lessons for investors
Underlying weakness in Chinese data, irrespective of COVID/lockdown is a key watch
BUSINESS
Alufluoride: Better equipped for the new journey ahead
Alufluoride poised for strong earnings growth aided by new contract cycle and new plant
