The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Neha Manpuria - JPMorgan Chase & Co, Research Division - Analyst
: If I were to look at our working capital number, that seemed to have increased quite a bit from last March or even if I look at it from June. So -- but
if I were to do like-for-like, is there any specific reason for the increase, particularly on the inventory and -- actually, in all fronts.
And second, is it net debt increase that we saw in the second half primarily because of working capital because I thought we're supposed to reduce
debt further in the second half?
Question: Neha Manpuria - JPMorgan Chase & Co, Research Division - Analyst
: And then lack of repayment in the second half is -- would be...
Question: Neha Manpuria - JPMorgan Chase & Co, Research Division - Analyst
: Okay. And if I got the number correctly, Sudhir, you said that INR 1,000 crores reduction in FY '21, is what we're expecting?
Question: Neha Manpuria - JPMorgan Chase & Co, Research Division - Analyst
: Okay. Understood. And just one more point on the working capital. Is it fair to assume that the receivable challenges particularly have eased in
India in the last few weeks?
Question: Nitin Agarwal - IDFC Securities Limited, Research Division - Analyst
: Nitin here. On Levittown, once the staff -- I mean, how meaningful a development is it from a U.S. sales perspective?
Question: Nitin Agarwal - IDFC Securities Limited, Research Division - Analyst
: For the U.S. business, can you just...
Question: Nitin Agarwal - IDFC Securities Limited, Research Division - Analyst
: Is it better?
Question: Nitin Agarwal - IDFC Securities Limited, Research Division - Analyst
: Hello?
Question: Nitin Agarwal - IDFC Securities Limited, Research Division - Analyst
: Yes. Yes. So I'm saying the U.S. facility once it starts up by the second half of the year, how meaningful would it be for U.S. business revenue
perspective in your assessment?
Question: Nitin Agarwal - IDFC Securities Limited, Research Division - Analyst
: Got it. And secondly, from a U.S. business perspective, in the past, you've talked about third-party supply -- third-party outsourced partnerships
for certain products. So are there any such products which will come through for this -- looking at coming through this year?
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MAY 26, 2020 / 12:00PM, TORP.NS - Q4 2020 Torrent Pharmaceuticals Ltd Earnings Call
Question: Nitin Agarwal - IDFC Securities Limited, Research Division - Analyst
: And second on the ROW markets, with the currency volatility that's been there, I mean how much of an impact has it had on the business? And
how are you looking at this business now given where this whole currency situation is?
Question: Nitin Agarwal - IDFC Securities Limited, Research Division - Analyst
: And Sudhir, on -- is there a way for us to assess this Brazil depreciation, how does it translate into a lower dollar profitability for us?
Question: Nitin Agarwal - IDFC Securities Limited, Research Division - Analyst
: This Brazilian depreciation, from an economic impact for us, it's just lower dollar and U.S. -- lower profitability in absolute Indian terms -- in Indian
rupee terms for us.
Question: Nitin Agarwal - IDFC Securities Limited, Research Division - Analyst
: Got it. And one last one. On the India business, I mean, we obviously did launch these 3 or 4 products you mentioned in the second half of the year,
new products, and I think the relaunches happened after a while for us. Now if we take a next 2- to 3-year view, how relevant or how important,
rather, is this new product launch engine for us from a growth perspective?
without the prior written consent of Thomson Reuters. 'Thomson Reuters' and the Thomson Reuters logo are registered trademarks of Thomson Reuters and its
affiliated companies.
MAY 26, 2020 / 12:00PM, TORP.NS - Q4 2020 Torrent Pharmaceuticals Ltd Earnings Call
Question: Nitin Agarwal - IDFC Securities Limited, Research Division - Analyst
: But are we -- in terms of new launches -- I mean, do we have any numbers or any such meaningful large sort of launches for the next couple of
years? Any broad sense on that?
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