Lasa Supergenerics Limited


(Harish Assudani) #232

yes, the NSE vide their circular no: NSE/SURV/36893 dated 02-02-18 has maintained status-quo of Lasa Supergenerics at serial number 21 in Annexure -2B.
The above circular is available at NSE official site.


(nkgambhir) #233

That is strange. The company has been saying that they have fulfilled all criteria and the moving out of t2t group should happen in february . Is this cause for worry ?


(nkgambhir) #234

I think it will be moved out at a later date in February itself. Nothing to worry about. Exchanges are not very transparent on these issues.


(Rohinipathi) #235

What ever the reason. I am happy with the outcome during this carnage. :grin::grin:


(abhishkjain2626) #236

I’d hope it comes out of T2T during this carnage, giving a chance to enter at the 130s and under :wink:


(nkgambhir) #237

During such a carnage, it is good that it is in the T group

.Friends, patience is required. LASA is still a “work in progress”, The company will declare its first yearly results in May. The inter se transfer of promoter shares is yet to be completed. The scrip is still in the T2t segment and due to this full fledged trading has not yet started All transactions are delivery based and the proper price discovery is yet to take place. Hopefully all these factors will be taken care of , very soon , and then the beautiful butterfly will emerge from the caterpillar that it now is.


(amil) #238

There is an EGM on 7 Feb. Does anybody plan to attend it and is EGM useful to interact with management (compared to say AGM or Concall?).
Being in Mahad, could site visit be possible? Is anyone planning to attend and more specifically, meet the management regarding business updates (and not just EGm agenda)?


(rv007) #239

If somebody is attending the EGM, below questions will help in understanding some of the things

  1. raw material and how much of that is linked with crude prices
  2. are there any raw material / imports that come under the anti dumping duties that are recently announced

(abhishkjain2626) #240

@nkgambhir Guess today’s LC was due to Omkar and not because of Broad market selloff. sir, how much of a spillover effect can there be in Lasa due to the recent Omkar results?

Disc. Invested before the demerger and then exited Omkar


(Ranjan K) #241

Hi All, i have recently started tracking this company. There seems to be a lot of confusion around the promoters holding. As per the demerger doc, promoters were supposed to hold 59.2%. The latest filing shows 39.75% only. Some brokerage reports show much higher promoter’s shareholding. Could anyone please provide some background to it?

Thanks & Regards,
Ranjan


#242

@ranjank - Here is a simplified one-line expression.

Old promoter holding + Demerger = New promoter holding + Promoter Profit

That’s pretty much it.


(Ranjan K) #243

I listened to the latest concall, Mr. Omkar says his holding will be around 36% …Dec 31 filing shows 39.75% by promoters including 10% of the erstwhile OSCL.


(Ranjan K) #244

Didn’t get a good sense of the shareholding and explanation by the promoter over the concall…Mr. Omkar’s own holding as of 31st Dec is 21.47%. He says his own holding will be 36%…the parent OSCL might sell it’s 10% in Lasa…


(rahulshares) #245

Lasa CFO resigned on 31st Jan. No reason was given. A really ominious sign.
Can anybody give some view or red flags for LASA? Im planning to exit as I believe OSCL will keep selling lasa and there wont be meaningful upside unless some institutional investors enter. Views invited on Lasa.


(amil) #246

If anybody attended the EGM and had any Q&As/discussions about the business with mr.Omkar, request them to share here,. thanks


(JKS) #247


Q3 results, came post- market …tax credit comparison is making a serious difference


#248

Looks like PAT was dressed up nicely in the last quarter to look better through the ‘Deferred Tax’ fudging. The company had a PBT of Rs.5.87 Cr but deferred a tax of Rs.3.98 Crores and somehow got the PAT figure to be Rs.8.66 Cr and the EPS figure to be Rs.3.79 when it was actually around Rs.1.80 or about half of what was reported!

The dressed up EPS figure let them offload nicely all through January. See this.

Dec 11th the results were released and then a big run up and Svaks biotech starts selling in first week of January at the peak. Looks like the deferring and dressing was to provide an exit to Svaks biotech. Now the deferred tax amount will be adjusted in the subsequent quarters. How can this even be legal?


(sta) #249

what exactly is deferred tax? we should ask in con call why was deferred tax there is Q2?


(rahulshares) #250

I dont think it is fudging at all. Deferred tax is timing difference between accounting and tax books. Considering Unit IV was operationalised in Q3, we see such a huge directional change in deferred tax. From q3 onwards depreciation on same would have commenced in books and hence the reversal of earlier deferred tax gain.
But it would appear conflicting that depreciation in current quarter has reduced, but I believe that is due to one-off additional write-off of assets in q2 as diacussed in previous conference call.

I believe we should stick to seeing PBT figures as its a relatively new and yet to stabilize co. I am fairly happy with results. Only concern is would OSCL and Svkas Biotech continue selling keeping the share price under pressure? Can Lasa management be trusted?

Looking at earlier posts in this thread, and way the management struggles even for explaining simple things like depreciation and defrerred tax and the English they speak, Im quite convinced its a start-up type operation with a lot of ‘just get things off the ground’ type operation. Its not a stable set up yet in terms of the organization is what I sense. Operationally they are definitely going in right direction. Monitor this one every quarter-on quarter before adding more qty is the note to myself.


#251

What might be the reason for finance costs to go up from Rs.2.42 Cr is Q2 to Rs.3.77 Cr in Q3? That’s over 50% rise in finance cost.