Onesource Specialty Pharma

“We expect second half to be stronger than the first.”

“So to answer your question, FY28 lines available, and that's why we are reiterating our guidance.”

“we anticipate that we should assume that the current level of ETRs will continue through till FY28, at least till the third quarter of FY28.”

“We do anticipate that by end of FY28, we should be in high 20s in terms of our ROCE returns.”

“we are adding new capabilities, including prefilled syringes and new lyophilization capacity.”

“That's the reason we are going in for a greenfield site as far as softgels are concerned, which would not only add significant new capacity, but also provide us opportunity to get into completely new area of containment and high potent softgels”

“that's the reason of the fact of our commitment of capex is based upon both what we see our customers giving robust demand as well as what we are seeing overall market demand going up.”

“But the fact is that today, the line already since September, it is operational, and it has immediately doubled our total sterile production days.”

“even our third line has successfully completed its factory acceptance test in Germany and is now at our site as we speak, ready for qualification.”

“So keeping that in mind, while we are making every effort for it to start in Q4, but the commercialization might get pushed to the start of FY28. However, I just want to reiterate here that we'll have all 3 lines fully operational and available for FY28.”

“And the planned shutdown, which is of the site is, in fact, currently underway. It started at the back end of quarter 2. But the new capacity will be available from next quarter onwards.”

“And the shutdown will last this current quarter. And then starting January, the lines will be available.”

“We have onboarded 2 projects for end-to-end development to commercialization projects from a U.S. biotech. We secured additional new program for one of the top global animal health companies and our existing customer.”

“So the wins are in biologics, there are wins in DDC and there are wins in base business.”

“Now same is reflected in our biologics RFP funnel, which is at highest ever with multiple projects in advanced stages. And all this is really going to be driving the growth beyond FY28 for us.”

“both our injectable and softgel business grew last quarter with multiple launches actually happening in several markets during the quarter.”

“It will remain a very strong contributor to our FY28 numbers.”

“all the revenue in the guidance period is coming from what we call MSA, which is a pre-approval R&D revenue. And post that is the time FY29 onwards is when the commercial revenues start.”

“I'll start with drug device combination as more markets open up, you see FY28, FY29, Europe starting to open FY30, '31, the big market, U.S. will open Western Europe, U.S.”

“And apart from Dr. Reddy's, also the supply ramp-up from our other Canadian customers is also on track for the quarter 3.”

“In fact, most of the shortages, if you see in Europe or in U.S. if you see FDA's shortage list, 70%-75% is contributed by injectables and lyophilization is a big contributor to that.”

“And within this current ongoing quarter, we expect the supplies to start.”

“we don't see any reasons to not follow exactly those -- what they have said.”

“which also, as you know, we have not been able to do for last 1 year, thanks to the capacity constraint, which we had.”

“EBITDA grew 53% year-on-year, 32% sequentially. And the margin expanded more than 400 basis points quarter-on-quarter, reaching 32% for the quarter.”

“since most of our raw material is actually pass through, we don't have any significant impact at least as far as the P&L is concerned.”

“I think our realizations are -- there is not a major shift we are seeing in realization.”

“when there is an increase in batch sizes in a sterile business, the cost of manufacturing per unit comes down, and we are happy to share the savings there with our customers.”

“the incremental cost is very limited compared to the incremental revenue.”

“The delayed deliveries to the customer does impact at least 45 to 60 days in terms of the overall cycle time. I do believe that it is not structural.”

“Hopefully, within a quarter or 2, we should start seeing this getting normalized.”

“But clearly, there is no quality issue on the receivables.”

“We are currently in a significant investment cycle. And as we've said in the past, we will continuously move towards generating free cash going forward.”

“Our semaglutide footprint continued to grow during the quarter, and our partner, Hikma, launched the first generic semaglutide in Saudi Arabia”

“And across the portfolio, the launches have happened in soft gelatin, in injectables in our markets like in U.S., in Europe, in some of the emerging markets.”

“So you will be able to see that in the publicly available financials. It's about $ 350 k or so.”

“now running commercial batches, even though the geopolitics actually impacted its start by almost 6 months.”

“this line also the arrival was longer than anticipated, obviously, due to this extended transit times because of what's happening in the Gulf.”

“We've got implication on fuel, freight costs, shipping lines availability.”

“So if you saw that revenue increased 37% year-on-year, 15% sequentially.”

“And in the quarter, we actually delivered more than INR5 billion revenue.”

“if you look at the first half, put together both the quarters, it's been a 47% year-on-year growth of EBITDA.”

“during the quarter, we successfully completed multiple regulatory and customer audits.”

“I mean these are our brought forward losses, which we continue to utilize”