Peptech BIosciences is a subsidiary of Titan Biotech
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Revenue for Sep 21 is 41 cr (32.8 cr for Sep 20 qtr) I am not able to find out how much out of 41 cr is due to covid products. Was expecting the revenue for sep 21 to be less than sep 20 qtr but it is in same line.
Thoughts?
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Fancy a family business. But there are some clear problems in this one 
The board composition doesnt give me any confidence at all. There is not enough disclosure of the roles of KMP and their relatives. The only disclosure is the related party transactions where all the kids were paid 41-45lakhs of salary (while the MD salary is 48lakhs and MD to median is 32:1).
Above all, I dont understand why they need two MDs?
Although, I am attracted by the way they have started gaining some operating leverage, I would track it closely to see how this situation evolves.
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Something is not right in PBT and Net profit with 24% tax in Jun 22 numbers in screener
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Anyone attended AGM? Pls share any import action…
Attended AGM. Cos on the path for increased top line & bottomline from non covid products. Capacity expansion with capital outlay of around 15cr.
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Thanks for the update. Any more updates beside growth?
As expected, non covid revenues are in uptrend.
Another set of decent numbers with significant reduction in debt. Covid related revenue is 0.1 Cr now.
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Very good corporate video
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If you are tracking the company, what is the reason for lower sales and lower margins this quarter?
Please let me know if you have any idea.
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Good report on protein hydrolysate market, nice to see Titan biotech having a significant global market share in this niche market.
Disclosure: Not invested (no transactions in last-30 days)
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The annual report shows quite a few related party transactions. Does anyone have any insight - are they are red flag, or par for the course in a family business?
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What does this mean?
Titan Biotech Limited is a leading manufacturer and exporter of biological products used in various industries such as pharmaceuticals, nutraceuticals, food and beverages, biotechnology and fermentation, cosmetics, veterinary and animal feed, agriculture, microbiology culture media, and plant tissue culture media. The company has a remarkable market presence of over 30 years in more than 100 countries worldwide and is committed to pushing the boundaries of research and development to deliver high-quality biological products.
The company’s business model revolves around the production and export of a vast variety of biological products, with a product range exceeding 10,000 items. It aims to maintain consistent development of products and people, ensuring high quality and reliability to win loyal customers over the years.
Titan Biotech Limited is GMP-certified and established to serve the scientific community and humanity by providing high-quality biological products. The products are essential for clinical diagnosis, vaccine production, antibiotics, agro-biotechnology, and animal feed. The company’s products are certified by FSSC 22000, FSSAI, HALAL INDIA, ISO 13485:2016, and ISO 9001:2015, reflecting its commitment to quality and standards.
The sectors they cover are as follows:
Diagnostics
Pharmaceuticals
Nutraceuticals
Animal Nutrition
Cosmetics
Agriculture
Food and Preservatives
Company has 3 arms:
- Titan Biotech: This division deals in biological products used in nutraceuticals, cosmetics, animal nutrition, and the food industry. In animal nutrition, they offer a variety of products such as:
- Titagen® – Fish Collagen Peptides
- Unstergen® – Undenatured Chicken Collagen Type II
- Peptone
- Yeast Extract
- Calcium Propionate
- Protein Hydrolysate
- Culture Media
Company launched a product in animal nutrition i.e Oxibile which is a star product of the company, this product is used in aqua culture, poultry, pets, dairy and ruminants.
They have also developed a dedicated website for this product :
In human health and nutrition space they again have good range of products such as
different types of proteins as mentioned earlier, apart from that they have:
- Hyaluronic acid
- Also involved in protein supplement market including milk protein, whey protein, Pea
protein, corn protein & soya protein - Coenzyme Q10 is a popular product for skin care and nutrition
- L-Glutathione for Skin & Immunity
- Titagen: In the health segment also they have a product called collagen which has huge market
potential and used as an anti aging product which is widely used in oral consumption and in
cosmetic products. The name of the product is Titagen and for this too they have made a
dedicated website. https://titagencollagen.com - Mucopolysaccharidosis (MPS) for joint health and lubrication
- Chondroitin sulfate for joints
In animal nutrition they also have a wide range of products:
- Mannan oligosaccharides (MOS)
- Protein Hydrolysate
2nd arm - TM Media – They are into Diagnostic business with around 4000+ SKUs
In 2024 the catalogue consisted of 332 pages, this shows how they are increasing the product portfolio. TM Media Product list 2024-25
The product range covers – Ready to use culture media, Media supplements, Lab Equipment, Lab Chemicals, Lab Consumables, Biological media bases.
The biggest player in India in this space is Hi Media Laboratories which is not a listed company, the FY 24 Revenues / PAT of this co. were 888 Crores / 77 Crores with 80% market share in domestic culture media market .
They also have an online platform from where one can buy the products directly https://mymicrolab.com/
Company is involved in the manufacturing of the culture media so that they can commercially produce it and supply to market
- Dehydrated culture media - These might be in a powder form or a Jelly-like substances and once poured into petri dishes, further experimentation can be done in it. these media are available in a dry, powdered form and need to be reconstituted with water before use. They offer several advantages over ready-to-use liquid media, including cost-effectiveness, longer shelf life, and reduced storage and shipping costs. Why Powdered? Multiple uses, easy transportability, Higher Shelf Life (Less Contaminated)
a. Selective Media - Selective media are used to select for the growth of a particular “selected” microorganism
b. Differential Media - Differential media contain indicators that allow differentiation between different types of microorganisms
c. Transport Media - This media is used for transporting delicate organisms, which may not survive in the time taken for transporting their specimen
d. Anaerobic Media - These media are used to grow anaerobic microorganisms like Thioglycolate broth medium, very difficult to manufacture, highly technical, Maybe High Margins
Company is not only engaged in the culture media but also the equipment that is required to produce these cultural media from start to end including the aerobic and anaerobic environment utensils culture medias any other products or objects which are used during the media transformation media preservation, Glassware to Equipments to Petri Dishes
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Ready To Use – companies providing ready to use media culture which requires a lot of for mentalization producing and manufacturing in the laboratories which takes a lot of time and they are directly providing it to the end user including very complex products like blood Agar
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Plant Tissue Culture: Any experimentation or research in India that involves using plant cells relies on the remarkable ability of plant cells to regenerate into whole plants. However, this process is highly complex and requires extensive scientific equipment and discovery. Unlike bacterial growth, which is relatively straightforward, extracting cells from plants for tissue culture is a challenging procedure that cannot be performed in just any laboratory
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Spread swab an inoculating loop are basically used for cleaning the equipment after the experimentation – Local company can also manufacture these
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Petri dishes are those glass dishes on which the experimentation is done they had to be carefully structured as to be very familiar with the hot and cold environment
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Media Supplements – Supplements for growth of media
Financials
Company has grown at a CAGR of 17% since 2015, Operating profit has grown at a CAGR of 27%, which used to be 10% now close to 20%, showing shift towards value-added products, Net Profit has grown at a CAGR of 32%
Company has regularly participated which is also visible in the spike in business promotion and travelling expenses. The good thing is that even though the company is spending more in business promotion and increased manpower, still they have maintained the profitability , below picture shows the future events company will be attending
2024 International Exhibits featuring Titan Biotech
Company Recently did a Linkedin Live on " Millions of microbes and thousands of cultural media; how to choose" to educate about their product and application .
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Titan Biotech’s “other related party company” - “Stalwart Nutritions Private Ltd Company” has B2C Brand - Nature’s Island (https://natures-island.com/) operates within the health and wellness industry, offering a range of nutraceutical and skincare products mainly to introduce clinically approved collagen to indian market.
Product Range:
- The company’s product line includes dietary supplements, collagen boosters, multivitamins, sports nutrition products, immunity boosters, and various skincare solutions. These products are formulated with a blend of natural ingredients and scientific innovation aimed at enhancing overall health and well-being.
Direct-to-Consumer (D2C) Model:
- Nature’s Island primarily utilizes a Direct-to-Consumer (D2C) model, selling products directly to customers through their e-commerce platform. This model allows them to maintain control over branding, customer experience, and pricing while building a direct relationship with their customers.
Marketing and Branding Strategy:
- Nature’s Island employs a digital-first marketing strategy, leveraging social media, search engine optimization (SEO), and content marketing to reach its audience. The company frequently educates consumers on the benefits of their products through blogs, expert advice, and detailed product insights.
Nature's Island (@natures_island_official) • Instagram photos and videos
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What is the relation of Nature’s Island with Titan Biotech? Is it a subsidiary or associate company, or is it an entity controlled by the promoters but in which Titan Biotech has zero or limited stake?
Disclosure: Not invested.
Below is an except from AR 22-23 page 148. With so many related parties, how can a minority shareholder be confident that the company is acting in the best interests of the shareholder and not in favor of one of the related parties particularly those companies in which the promoters have significant ownership?
List of Related Parties:
i. Associate
(a) Peptech Biosciences Limited
ii. Significant influence over, the entity;
(a) Titan Securities Limited
Corporate Overview Performance Review Notice Statutory Reports Financial Statement
Annual Report 2022-23 | Page149Titan Biotech Ltd
iii. Other related parties
(a) Tanita Leasing & Finance Limited
(b) Connoisseur Management Services Private Limited
(c) Tee Eer Securities & Financial Services Private Limited
(d) Titan Media Limited
(e) Phoenix Bio Sciences Private Ltd
(f) Stalwart Nutritions Private Ltd.
(g) Emprise Production Private Ltd.
(h) Mbon Nutrients LLP
(i) Suptex Industries Pvt. Ltd.
(j) Simtex Mart Pvt. Ltd.
(k) SR Infratech
(l) Titan Agritech Limited