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In FY23, Tatva Chintan (TATVA) earnings were hurt from a downcycle in its SDA business, which should resume growing FY24 onwards. The addition of a significant new customer to its SDA has the potential to propel growth in the near future. PASC segment will likely reap the benefit of products under qualification and long-term growth on the back of a robust pipeline and cleaner chemistry positioning.
Strides Pharma (Strides) is streamlining its CDMO business by merging its soft gel capsule business and injectable business of Steriscience with Stelis. It will also rename Stelis to OneSource after completion, and regrouping will help the promoter better align the focus on all the arms of the CDMO business. The combined entity is likely to have revenue of USD 180-200mn in FY25E and management expects to grow 20-25% p.a. thereon.
Tarsons Products (Tarsons) offers a range of plastic labware products. Over the years, it has gained ~25% market share (Source: Company) in a segment which was historically dominated by MNCs. Its network consists of over 150 distributors and more than 500 sub-distributors which provide pan-India visibility to its products.
Gujarat Gas (GUJGA) has hiked industrial gas prices at Morbi by INR 2.5/scm, the second hike in Q2, post a INR 2/scm hike taken in Aug’23. The decision has been driven by an improvement in propane prices in last 2-3 months. Prices have steadily improved since then, with Aug’23 prices at USD 470/t and Sep’23 prices declared at USD 550/t – coupled with an increase in import duties to ~18% from <6% earlier.
As per the meeting held on 2nd Sep’23, the board of Kotak Mahindra Bank (KMB) has informed that Mr. Uday Kotak has resigned as the MD & CEO of the bank and has become a non-executive non-independent director of the bank for a period of 5 years. He would not be liable to retire by rotation.