What is the % of OTC products (which are responsible for higher sales) to current year sales ? any idea ?
The receivables are approx 20% of revenue , so OTC sales should be in line with it. please correct me if I am wrong.
Donât have the details of OTC products. Someone with access to management can get this from them.
Incidentally, someone who is a pharma expert (I am not!) can throw more light on their injectables facility and its real value. Claris had recently sold their injectable facility to Baxter for USD 625 mln in July 2017. Claris was of course already supplying injectables to the US while Caplin has yet to start exporting (ANDAâs filing going on). The capacity of Clarisâs plant is also likely to be much higher (I donât have details) though Caplin in its press release for March 2018 results has talked about raising capacity to 60 mln units. Clarisâs sales during FY2017 were Rs 812 cr while they sold the business to Baxter for Rs 3400 cr - taking USD/INR at Rs 55. Still 4x sales. Claris Baxter Injectibles plant sale July 2017.pdf (491.3 KB)
Caplinâs board had met on March 1, 2018 to discuss getting a potential partner for their injectables business. News partnership for IV Fluids business 2 March 2018.pdf (73.0 KB)
Caplin seems to be spending around Rs 60 crore p.a.(yes, this large an amount) to maintain the injectable facility as per USFDA compliance requirement (see page 13 of 2016-17 balance sheet). Clarisâ 2017 balance sheet (page 52) also lists the key challenge being to maintain the manufacturing facility as USFDA compliant.
I feel the key for Caplin seems to be to accelerate its sales of injectables to the US market (get a strategic partner or even give majority/sell the business to an MNC).
As I am not a pharma expert, maybe someone else can throw better light on my comments.
Any thoughts on the Clinical Research Organisation (CRO) plan? Is it capital intensive, interested in understanding itâs contribution to the business.
CRO is a service business where they provide clinical trials for new drugs being developed by MNC innovators. It is low capital intensive and Vimta Labs had started out a CRO with a lot of promise. But their business did not grow into a large one. It is generally a very high margin business, being a service business.
Someone more knowledgeable can provide better details.
@Multiplier777 : I have been following Caplin since a couple of years now. I have a small initial position. But could not add substantially to it., as I could not gather the required conviction for the same.
There is a strong need for transparency in providing details of product pipeline to shareholders., rather than rough segmentation.
In many other listed pharma companies., product pipeline & their individual contribution to revenue is quite visible.
Hi Mukesh , any views on high increase in trade receivables ?
Thanks. Due to sudden high increase in receivables , I have trimmed my holdings. Will wait for upcoming quarters. Do you attend the conf call for Caplin ? If you do , kindly raise this question to management , the reason for high increase.
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YesâŠlooks progress on Injectable plant is real!
Injectable Production Chemist /asst. Manager / Manager for Pondicherry âŠ
https://www.naukri.com âș job-listings-InjâŠ
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when is the conf call ? is thier any update
Exact reverse market moodâŠQ42017 and Q42018
i heard conf call is on 11thâŠso there will be uncertainity till that.I am sure its negative mkt sentiment, nothing else.Mgmt is quality âŠfeel good time to buy at 440 levels
hi there,
Can you give me the con call details please?
Although one quarterâs earnings could be a blip Im a bit concerned about managementâs penchant for risk taking. They seem to be quite aggressive and not sure if its going to pay off.
They donât conduct concall.
Recent announcement with regards to concerns over receivables 4fd9800a-259f-4d1b-bf9b-ce45dc749fd4.pdf (1017.7 KB)
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thanks. apart from the receivables the main issue is regarding the margins right? they have been coming down of late. any ideas why?
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Hi everybody.
I have a short 15 min call with management mainly to understand margins as receivabkes story is pretty clear now. So would be able to address a few qns from the community. Pls post your qns and ill revert back after the call. Thanks
Can you please clarify and post your discussion had with promoters
I can not see any conf call details on bse website. Are you sure its on 11th june
sharing disclosure by caplin regarding few points on 06/06/2018.
http://cmsbox.caplinpoint.net//PDF/PressRelease06062018F.pdf
Seems like after Vakrangee , Manpasand and PCJ fiasco , companies are worried about loosing their market value and trust. They are sharing disclosures frequently now a days.