Hello folks, here after a 2 year hiatus! Had a few hours free and was going through old debates, crazy where this started and where its at right now. Some of the earlier mentioned names like Parekh Aluminex and Lakshmi Energy were names that were mentioned alongwith Caplin, and I just did a quick search, these companies are not even traded on the exchanges right now whereas Caplin has gone from Rs.14 to Rs.820 in this period (split rates).
One thing I realized over several interactions with Pharma analysts and experts in India is that, there’s VERY little knowledge about ROW markets. Analysts only seem to have knowledge on Domestic and US markets, and very limited on ROW. I guess thats also because there are such few companies that have successful pure play ROW business like the one Caplin has.
Regardless, personally I feel the next 5-7 years would be very interesting for the company in the grand scheme of things, with their entry into larger Latin American markets and consolidating US markets. They’re also getting into Oncology, API, CRO, etc. We hope they have the right team and bandwidth to execute well, but if we go by past records, its comforting. Along the way they have validation from people like Ashish Kacholia, Fidelity, Principal Asia and multiple other FIIs that have a stake now.
Disc - Invested from 2012 