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
: My first question is on the Germany business. That business, despite the quality issue being resolved, is at about EUR 30 for the last 3 quarters. I
think you mentioned some impact from extension of lockdown, but now that things are normalizing in Europe, are we seeing an uptick in that
business? And how should we look at the growth potentially going forward. Does -- can we expect more tender wins, higher volumes that we can
recap there?
Question: Neha Manpuria - JPMorgan Chase & Co, Research Division - Analyst
: And what is your expectation in terms of the market normalizing in Germany? You need a couple of months? Or do you think it could take longer?
I mean what would be the factors to normal -- for that market to see normalization?
Question: Neha Manpuria - JPMorgan Chase & Co, Research Division - Analyst
: Understood. And my second question is on the operating cost. The operating cost seems to have in stock, particularly after -- if I adjusted even for
the R&D spend. Sudhir, is there -- is this full normalization of our cost in India? Or is there any one-off element in this operating cost number?
Question: Neha Manpuria - JPMorgan Chase & Co, Research Division - Analyst
: So the SG&A cost currently does not factor in normalization of the India business. Is that correct?
Question: Ranvir Singh - Sunidhi Securities & Finance Ltd., Research Division - Analyst
: A couple of them. In India business, that MR productivity currently 8.5 lakhs. Do we see this productivity going to increase from here or after that
integration of portfolio, this should mature here or we are still here?
Question: Ranvir Singh - Sunidhi Securities & Finance Ltd., Research Division - Analyst
: Okay. And secondly, on working capital front, you see the inventory days has increased -- overall working capital cycle has increased. Do you see
going forward that, that will increase further? Or we should assume this model at this level?
Question: Ranvir Singh - Sunidhi Securities & Finance Ltd., Research Division - Analyst
: And normalized would be like 100 days of inventory? How is the normal?
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MAY 18, 2021 / 12:00PM, TORP.NS - Q4 2021 Torrent Pharmaceuticals Ltd Earnings Call
Question: Ranvir Singh - Sunidhi Securities & Finance Ltd., Research Division - Analyst
: Okay. Okay. And for CapEx, if you -- what was the CapEx in FY '21? And if you could guide for to FY '22?
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