Hot Chips - Indraprastha Gas & Divi's Laboratories
Ali On Content / 06 Jun 2011
INDRAPRASTHA GAS BSE Code: 532514 Volume: 29000 CMP: Rs 341
Indraprastha Gas (IGL) has witnessed a robust performance for FY11. Its total sales volume increased by 61 per cent on a YoY basis led by a strong performance of the PNG segment. The higher proportion of sales from the PNG segment resulted in the gross margin declining by Rs 0.2 / SCM to Rs 7.6 / SCM. IGL’s customer profile gives it the ability to pass on the price increases and maintain margins in absolute terms.
IGL has resorted to a price hike of around 55 per cent for CNG in the last 18 months to negate the impact of high-cost R-LNG. With a robust capex of Rs 2,300 crore in the next four years, IGL is increasing coverage in Delhi, Noida, Greater Noida and Ghaziabad. The company has bid for Ludhiana and Jalandhar in the third round of the CGD bidding. As per MoPNG’s order, RIL has to supply gas to priority customers first, thereby benefiting IGL.
DIVI'S LABORATORIES BSE Code: 532488 Volume: 13261 CMP: Rs 775
Stronger order inflows in the company’s custom synthesis and generics business and a subsequent recovery in the global pharma outsourcing environment since Q3FY11 has helped the company post robust results in Q4FY11. A supply of 21 new products in H2FY11 boosted the earnings of Divi’s Laboratories. Its FY11 sales and profits witnessed a growth of 38 per cent and 26 per cent respectively on a YoY basis. The management has guided for a 25 per cent revenue growth in FY12, led by the improving environment in global pharma outsourcing and considering the full impact of its recent product launches.
Divi’s is one amongst the first few CRAMS providers who have captured the initial waves of recovery in pharma outsourcing. Its low-cost India-centric asset base and strong ties with innovator companies is likely to make it a key beneficiary of an improved global outsourcing environment in the near to medium term.
Indraprastha Gas (IGL) has witnessed a robust performance for FY11. Its total sales volume increased by 61 per cent on a YoY basis led by a strong performance of the PNG segment. The higher proportion of sales from the PNG segment resulted in the gross margin declining by Rs 0.2 / SCM to Rs 7.6 / SCM. IGL’s customer profile gives it the ability to pass on the price increases and maintain margins in absolute terms.
IGL has resorted to a price hike of around 55 per cent for CNG in the last 18 months to negate the impact of high-cost R-LNG. With a robust capex of Rs 2,300 crore in the next four years, IGL is increasing coverage in Delhi, Noida, Greater Noida and Ghaziabad. The company has bid for Ludhiana and Jalandhar in the third round of the CGD bidding. As per MoPNG’s order, RIL has to supply gas to priority customers first, thereby benefiting IGL.
DIVI'S LABORATORIES BSE Code: 532488 Volume: 13261 CMP: Rs 775
Stronger order inflows in the company’s custom synthesis and generics business and a subsequent recovery in the global pharma outsourcing environment since Q3FY11 has helped the company post robust results in Q4FY11. A supply of 21 new products in H2FY11 boosted the earnings of Divi’s Laboratories. Its FY11 sales and profits witnessed a growth of 38 per cent and 26 per cent respectively on a YoY basis. The management has guided for a 25 per cent revenue growth in FY12, led by the improving environment in global pharma outsourcing and considering the full impact of its recent product launches.
Divi’s is one amongst the first few CRAMS providers who have captured the initial waves of recovery in pharma outsourcing. Its low-cost India-centric asset base and strong ties with innovator companies is likely to make it a key beneficiary of an improved global outsourcing environment in the near to medium term.
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