UNITED STATES
โข In FY25, revenue from this region stood registered a growth of 27.2% YoY and stood at โน11,050 crore primarily driven by volume expansion and successful new product launches. โข The company aims to strengthen its presence by building a comprehensive portfolio across various dosage forms and therapeutic areas. This will be achieved through a combination of in-house development and strategic partnerships. โข During the quarter, the company filed 3 ANDAs (Abbreviated New Drug Application) and launched 5 new products. โข They are expanding its specialty footprint in the US by developing a portfolio of 505(B)(2) products and strengthening its presence in the paediatric rare disease segment. Further, the company entered into an exclusive development, licensing, supply and commercialization agreement with Synthon BV, for a novel 505(B)(2) oncology product. โข The company received US FDA (Food and Drug Administration) approval to initiate a Phase 2B clinical trial of Usnoflast in patients with ALS (Amyotrophic Lateral Sclerosis). โข The management highlighted that the potential impact of US imposed tariffs on pharmaceuticals remains uncertain due to multiple factors, but any tariffs would likely affect operations. In order to mitigate this, the company explores co-development and manufacturing opportunities at third-party locations within the US for select products. โข In FY26, the management anticipates single digit growth from this region with several important product launches. โข The company has ~14-15 critical product launches in FY27 and does not anticipate a significant decline from FY25 performance, contingent on timely regulatory approvals. Many of these launches involve complex products with potential semi-exclusive or exclusive market opportunities. They remain committed to consistent annual product launches, steadily expanding its portfolio and strengthening its market base.
โข In FY25, revenue from this region stood registered a growth of 27.2% YoY and stood at โน11,050 crore primarily driven by volume expansion and successful new product launches. โข The company aims to strengthen its presence by building a comprehensive portfolio across various dosage forms and therapeutic areas. This will be achieved through a combination of in-house development and strategic partnerships. โข During the quarter, the company filed 3 ANDAs (Abbreviated New Drug Application) and launched 5 new products. โข They are expanding its specialty footprint in the US by developing a portfolio of 505(B)(2) products and strengthening its presence in the paediatric rare disease segment. Further, the company entered into an exclusive development, licensing, supply and commercialization agreement with Synthon BV, for a novel 505(B)(2) oncology product. โข The company received US FDA (Food and Drug Administration) approval to initiate a Phase 2B clinical trial of Usnoflast in patients with ALS (Amyotrophic Lateral Sclerosis). โข The management highlighted that the potential impact of US imposed tariffs on pharmaceuticals remains uncertain due to multiple factors, but any tariffs would likely affect operations. In order to mitigate this, the company explores co-development and manufacturing opportunities at third-party locations within the US for select products. โข In FY26, the management anticipates single digit growth from this region with several important product launches. โข The company has ~14-15 critical product launches in FY27 and does not anticipate a significant decline from FY25 performance, contingent on timely regulatory approvals. Many of these launches involve complex products with potential semi-exclusive or exclusive market opportunities. They remain committed to consistent annual product launches, steadily expanding its portfolio and strengthening its market base.
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INTERNATIONAL MARKETS
โข During the quarter, revenue from this region grew by 11.8% YoY and stood at โน554.7 crore. In FY25, the same increased by 13.8% YoY and was โน2,194.7 crore primarily attributed to solid demand across geographies. โข The management highlighted that emerging markets, continued to grow at a strong double-digit rate while also improving profitability and this trend is expected to persist in the future. โข Going forward, they are trying to expand the companyโs presence in targeted therapy areas across key geographies driven by leveraging the companyโs global R&D (research and development) capabilities, with a strong pipeline of differentiated and complex generics as well as specialty product.
โข During the quarter, revenue from this region grew by 11.8% YoY and stood at โน554.7 crore. In FY25, the same increased by 13.8% YoY and was โน2,194.7 crore primarily attributed to solid demand across geographies. โข The management highlighted that emerging markets, continued to grow at a strong double-digit rate while also improving profitability and this trend is expected to persist in the future. โข Going forward, they are trying to expand the companyโs presence in targeted therapy areas across key geographies driven by leveraging the companyโs global R&D (research and development) capabilities, with a strong pipeline of differentiated and complex generics as well as specialty product.
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FUTURE OUTLOOK
โข They are aiming for double-digit revenue growth in FY26, driven by strong performance in India and international markets, along with the expansion of new growth areas like biologics and vaccines. โข In FY26, the management envisages EBITDA margin to be ~26.5% owing to pricing pressures, increased competition, a loss of market share in FY25 and higher R&D spending. However, they anticipate gradual margin improvement in the range of ~50-70 bps in the future primarily led by operational efficiency initiatives. Kredent Infoedge Private Limited is a SEBI registered Research Analyst and Investment Advisor. Research Analyst SEBI Registration Number โ INH300007493. Investment Advisor SEBI Registration Number โ INA000017781. Registered Office Address: J-1/14, Block - EP and GP, 9th Floor, Sector V Saltlake City, Kolkata WB 700091 IN. CIN: U72400WB2006PTC111010 Disclaimer: This document has been prepared to provide a brief summary of the conference call conducted by the companies and is intended to be used for learning enhancements. Nothing contained herein should be construed as a recommendation on any stock or sector.
โข They are aiming for double-digit revenue growth in FY26, driven by strong performance in India and international markets, along with the expansion of new growth areas like biologics and vaccines. โข In FY26, the management envisages EBITDA margin to be ~26.5% owing to pricing pressures, increased competition, a loss of market share in FY25 and higher R&D spending. However, they anticipate gradual margin improvement in the range of ~50-70 bps in the future primarily led by operational efficiency initiatives. Kredent Infoedge Private Limited is a SEBI registered Research Analyst and Investment Advisor. Research Analyst SEBI Registration Number โ INH300007493. Investment Advisor SEBI Registration Number โ INA000017781. Registered Office Address: J-1/14, Block - EP and GP, 9th Floor, Sector V Saltlake City, Kolkata WB 700091 IN. CIN: U72400WB2006PTC111010 Disclaimer: This document has been prepared to provide a brief summary of the conference call conducted by the companies and is intended to be used for learning enhancements. Nothing contained herein should be construed as a recommendation on any stock or sector.
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Zydus Lifesciences Limited 750-890
Expected level 1100
Support 650
Expected level 1100
Support 650
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๐๐ผ๐ป๐ด ๐ง๐ฒ๐ฟ๐บ ยฎโข
HDFC BANK 1600-1760 Expected level 2000 Support 1500
1949๐ฅ๐ฏ๐ฏ
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๐๐ผ๐ป๐ด ๐ง๐ฒ๐ฟ๐บ ยฎโข
Hdfcamc 3600-4030 Expected level 4700 Support 3450
4030 to 4815๐ฅLong term level hit
19% return ๐jackpot
19% return ๐jackpot
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๐๐ผ๐ป๐ด ๐ง๐ฒ๐ฟ๐บ ยฎโข
CCL PRODUCTS LIMITED 500-620 Expected level 800 Support 400
810๐ฅLong term level hit 30% return
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๐ Chaman Lal Setia Exports - Earnings Call Transcript
๐ [Quarter and Financial Year Ended March 31, 2025] Key Developments: Investor/Analysts conference call held on May 29, 2025.
Revenue increased by 11%. Company donated โน50 lakhs to Prime Minister National Relief Fund. Rice volume around 65,000 tons and Paddy rice over 7,600 tons Stock value is โน430 crores.
Challenges & Risks: Ocean freight rates had gone up significantly. Prices were 15-20% lower than last year.
Transportation cost has doubled, impacting profitability.
Management Outlook: Target revenue of โน2,000 crores with new plants.
Expanding to domestic market also but not at lower prices.
Expect good profits.
๐ [Quarter and Financial Year Ended March 31, 2025] Key Developments: Investor/Analysts conference call held on May 29, 2025.
Revenue increased by 11%. Company donated โน50 lakhs to Prime Minister National Relief Fund. Rice volume around 65,000 tons and Paddy rice over 7,600 tons Stock value is โน430 crores.
Challenges & Risks: Ocean freight rates had gone up significantly. Prices were 15-20% lower than last year.
Transportation cost has doubled, impacting profitability.
Management Outlook: Target revenue of โน2,000 crores with new plants.
Expanding to domestic market also but not at lower prices.
Expect good profits.
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Maruti Suzuki India Company details report
Maruti Suzuki India Limited (formerly known as Maruti Udyog Limited) was established as a joint venture agreement between the Government of India and Suzuki Motor Corporation (SMC), Japan. The company has dominated the Indian passenger vehicle segment for decades. It became a subsidiary of SMC in 2002. SMC currently holds 58.28% of its equity stake. It is a market leader (market share of over 43%) in the passenger vehicle industry in India. It is the largest exporter of passenger vehicles in India. It had a manufacturing capacity 23.5 lakh units p.a in FY24: Gurugram 7,00,000 units p.a, Hansalpur (Gujarat) 7,50,000 units p.a., Manesar plant (Gurugram) 9,00,000 units p.a. Maruti Suzuki commenced production at its new Kharkhoda plant in FY25. Phase 1 adds an annual capacity of 2.5 lakh units, starting with the Brezza compact SUV. With this addition, the companyโs total installed capacity, including Suzuki Motor Gujarat, now stands at 26 lakh units per annum. The company exports to over 100 countries presently. It is India's largest exporter of passenger vehicles with a share of ~43% in FY25 (as per Siam). The top 5 countries for exports are South Africa, Saudi Arabia Chile, Mexico, and Philippines. Top five exports models include Dzire, Swift, Baleno, S-Presso & Grand Vitara. Its sales channel include Nexa and Arena. Nexa is premium sales channel targeted at new customer segments and the product portfolio includes Invicto, XL6, Grand Vitara, Jimny, Fronx, Baleno, Ciaz and Ignis. Arena product portfolio includes models like Brezza, Ertiga, Wagon-R, Swift, Dzire, Alto K10, Celerio, S-Presso and Eeco. Commercial product portfolio comprises of Super Carry and Eeco Cargo. The company is already providing smart-hybrid technology in XL-6, Ertiga, S-cross and Brezza. It has 2,987 Arena sales channel and 495 Nexa channel in 2,522 and 301 regions across India, respectively as of 31st March 2024. There are 381 sales channel for commercial vehicles portfolio across 274 regions in India.
Maruti Suzuki India Limited (formerly known as Maruti Udyog Limited) was established as a joint venture agreement between the Government of India and Suzuki Motor Corporation (SMC), Japan. The company has dominated the Indian passenger vehicle segment for decades. It became a subsidiary of SMC in 2002. SMC currently holds 58.28% of its equity stake. It is a market leader (market share of over 43%) in the passenger vehicle industry in India. It is the largest exporter of passenger vehicles in India. It had a manufacturing capacity 23.5 lakh units p.a in FY24: Gurugram 7,00,000 units p.a, Hansalpur (Gujarat) 7,50,000 units p.a., Manesar plant (Gurugram) 9,00,000 units p.a. Maruti Suzuki commenced production at its new Kharkhoda plant in FY25. Phase 1 adds an annual capacity of 2.5 lakh units, starting with the Brezza compact SUV. With this addition, the companyโs total installed capacity, including Suzuki Motor Gujarat, now stands at 26 lakh units per annum. The company exports to over 100 countries presently. It is India's largest exporter of passenger vehicles with a share of ~43% in FY25 (as per Siam). The top 5 countries for exports are South Africa, Saudi Arabia Chile, Mexico, and Philippines. Top five exports models include Dzire, Swift, Baleno, S-Presso & Grand Vitara. Its sales channel include Nexa and Arena. Nexa is premium sales channel targeted at new customer segments and the product portfolio includes Invicto, XL6, Grand Vitara, Jimny, Fronx, Baleno, Ciaz and Ignis. Arena product portfolio includes models like Brezza, Ertiga, Wagon-R, Swift, Dzire, Alto K10, Celerio, S-Presso and Eeco. Commercial product portfolio comprises of Super Carry and Eeco Cargo. The company is already providing smart-hybrid technology in XL-6, Ertiga, S-cross and Brezza. It has 2,987 Arena sales channel and 495 Nexa channel in 2,522 and 301 regions across India, respectively as of 31st March 2024. There are 381 sales channel for commercial vehicles portfolio across 274 regions in India.
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#SALES #GROWTH
In FY25, the net sales was โน1,52,913 cr (of which exports comprised of ~โน21,960 cr) which grew by 7.8% YoY. The sales volume was at 22.3 lakh units v/s 21.4 lakh units in FY24, an increase of 4% YoY. It sold 19 lakh units in domestic market as compared to 18.5 lakh units in FY24 an increase of 2% YoY and in exports markets its sales volume surged by ~18% YoY to 3.3 lakh units. SUVs (domestic) observed an increase of 38% YoY for the year. Rural markets continued to perform better in Q4 FY25 and FY25. In FY24, the net sales stood at โน1,41,858 cr and increased by 19.8% YoY. It sold 18.5 lakh units in domestic market and 2.8 lakh units in export market thereby registering an expansion of 8.2% and 7.7%, respectively. CNG variant sales totaled ~4.6 lakh units in FY24, marking a YoY growth of 50%, with Ertiga demonstrating strong popularity in the CNG market. Its market share in SUV space stands at 21% currently. Its rural urban mix stands at 46:54.
In FY25, the net sales was โน1,52,913 cr (of which exports comprised of ~โน21,960 cr) which grew by 7.8% YoY. The sales volume was at 22.3 lakh units v/s 21.4 lakh units in FY24, an increase of 4% YoY. It sold 19 lakh units in domestic market as compared to 18.5 lakh units in FY24 an increase of 2% YoY and in exports markets its sales volume surged by ~18% YoY to 3.3 lakh units. SUVs (domestic) observed an increase of 38% YoY for the year. Rural markets continued to perform better in Q4 FY25 and FY25. In FY24, the net sales stood at โน1,41,858 cr and increased by 19.8% YoY. It sold 18.5 lakh units in domestic market and 2.8 lakh units in export market thereby registering an expansion of 8.2% and 7.7%, respectively. CNG variant sales totaled ~4.6 lakh units in FY24, marking a YoY growth of 50%, with Ertiga demonstrating strong popularity in the CNG market. Its market share in SUV space stands at 21% currently. Its rural urban mix stands at 46:54.
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#EBITDA #GROWTH
In FY25, the EBITDA was โน20,156 cr and expanded by 9% YoY. The increase can be attributed to better operating leverage, rise in sales and favorable forex. However, for the year, it witnessed an impact of rising steel cost, advertising cost related to Auto Expo 2025 and other expenses. In FY24, the EBITDA grew by 42% YoY and stood at โน18,526 cr. The increase was led by operating leverage benefits and softening of raw material cost. The per-vehicle discount decreased from โน23,300 in Q3 FY24 to โน14,500 in Q4 FY24.
In FY25, the EBITDA was โน20,156 cr and expanded by 9% YoY. The increase can be attributed to better operating leverage, rise in sales and favorable forex. However, for the year, it witnessed an impact of rising steel cost, advertising cost related to Auto Expo 2025 and other expenses. In FY24, the EBITDA grew by 42% YoY and stood at โน18,526 cr. The increase was led by operating leverage benefits and softening of raw material cost. The per-vehicle discount decreased from โน23,300 in Q3 FY24 to โน14,500 in Q4 FY24.
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#PAT #GROWTH
PAT for FY25 was โน14,256 cr and increased by 8% YoY. The increase was on account of rise in sales and other income (โน5,022 cr in FY25 v/s โน4,094 cr in FY24). In FY24, the net profit increased by 64% YoY and stood at โน13,234 cr. The rise can be attributed to operating profit expansion and significant increase in other income (โน4,094 cr in FY24 v/s โน2,141 cr in FY23). Tax rate for FY24 was ~23%.
PAT for FY25 was โน14,256 cr and increased by 8% YoY. The increase was on account of rise in sales and other income (โน5,022 cr in FY25 v/s โน4,094 cr in FY24). In FY24, the net profit increased by 64% YoY and stood at โน13,234 cr. The rise can be attributed to operating profit expansion and significant increase in other income (โน4,094 cr in FY24 v/s โน2,141 cr in FY23). Tax rate for FY24 was ~23%.
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#EBITDA #MARGIN
In FY25, the EBITDA margin was 13.2% and remained flattish on a YoY basis. The same can be attributed to adverse expenses the company had owing to new manufacturing plant, ad expenses pertaining to Auto Expo, commodity costs primarily steel and other expenses which was offset by lower sales promotion, price increases and favourable operating leverage. In FY24, the EBITDA margin stood at 13.1%. The rise in margin was on account of operating leverage benefits, better product mix, lower ad & promotion spends and other miscellaneous factors.
In FY25, the EBITDA margin was 13.2% and remained flattish on a YoY basis. The same can be attributed to adverse expenses the company had owing to new manufacturing plant, ad expenses pertaining to Auto Expo, commodity costs primarily steel and other expenses which was offset by lower sales promotion, price increases and favourable operating leverage. In FY24, the EBITDA margin stood at 13.1%. The rise in margin was on account of operating leverage benefits, better product mix, lower ad & promotion spends and other miscellaneous factors.
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#ROCE
In FY25, the ROCE declined by few bps on account of increased capital employed. In FY24, there was an increase in ROCE to 21.8% owing to rise in PBIT.
In FY25, the ROCE declined by few bps on account of increased capital employed. In FY24, there was an increase in ROCE to 21.8% owing to rise in PBIT.
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#ROE
In FY25, the ROE declined to 15% owing to increased net worth. ROE in FY24 increased on a YoY basis and stood at 16.8%. The expansion was on account of rise in net profit on a YoY basis.
In FY25, the ROE declined to 15% owing to increased net worth. ROE in FY24 increased on a YoY basis and stood at 16.8%. The expansion was on account of rise in net profit on a YoY basis.
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