Business finally seems to be coming back on track (8% sales growth, 48% EPS growth). Reduction in R&D, lesser capex and new product launches has finally lent support to their margins. Concall notes below.
FY24Q3
- 5 products to be launched in Q4 (20 launches in 9MFY24)
- Animal healthcare business grew at 32% in 3QFY24 (24% CAGR in last 4-years) - headcount is 350 currently
- Believe that $230mn is base annual run rate in USA
- Have not got into long term contracts in USA because they don’t like the fine prints in these contracts
Disclosure: Invested (position size here, no transactions in last-30 days)