IOL Chemicals Q3 2022 Concall Highlights

  • Total revenues for the quarter were at ₹555 Cr (3% growth QoQ). EBITDA from the quarter stood at ₹68 Cr (25% growth QoQ). EBITDA margins for the quarter were at 12.1%. PAT for the quarter was at ₹40 Cr (29% growth QoQ).
  • Non-Ibuprofen pharma business has performed better than Q2 and contributed 17% to the revenues. Overall, 37% of revenues from the Pharma segment comes from non-Ibuprofen.
  • They filed 4 DMFs during the quarter, and they got GMP certification from MoH Russia for 6 products. They also got approval from the Korean FDA for 2 products during the quarter.
  • Margins have been under stress due to continuous volatility in chemical prices and lower volumes in the Ibuprofen business. 
  • In the current year, they have spent ₹116 Cr in capex and they expect to spend about ₹150 Cr annually for the next couple of years.
  • What matters in the API business is the cumulative capex rather than QoQ capex. They have spent over ₹400 Cr in capex over the last several years and many of those assets are still waiting to be fully utilized.
  • Capacity utilization is currently at 65-75% depending on the asset, block and product. 
  • Ibuprofen volumes were 10% above Q2 level. Pricing is still negative. They believe the Ibuprofen business has bottomed out both in terms of volume and pricing.
  • Most of their Ibuprofen business is in India and semi-regulated markets. In these markets there are no contracts. For the regulated markets they are expecting annual contracts in the range of $11/kilo.
  • IBB prices are stable however they are facing pressures related to manufacturing rather than RM costs. The increase is more due to increase in energy prices.
  • They have some dependency on China for Metformin and no dependency on China for Ibuprofen.
  • Metformin contributes to about 16-17% of revenues. After Ibuprofen, Metformin is the largest revenue generator for IOLCP.
  • All the facilities that they are building currently are multi product API plants. They are doing this to mainly de-risk the business in case any of the APIs go out of business.
  • They expect Q4 to be similar to Q3 in terms of demand and profitability for Ibuprofen. They expect a 10% demand increase in the next financial year.
  • BASF is back in Ibuprofen and it is putting pressure on players that are not sufficiently backward integrated. BASF’s plant is fully automated so the capex they have incurred on that is probably very high. IOLCP believes they can beat them on price.
  • Over the past 2 years, most of the growth in the business has come from the non-Ibuprofen pharma portfolio. The management is trying to constantly de-risk the business from the cyclicality of Ibuprofen. They expect about 40% of next year’s pharma revenues to come from the non-Ibuprofen portfolio.
  • The strategy is that 5 years from now, Ibuprofen will be a minority part of the overall pharma business

84 thoughts on “IOL Chemicals Q3 2022 Concall Highlights”

  1. Davidemeno

    The Real Person!

    Author Davidemeno acts as a real person and verified as not a bot.
    Passed all tests against spam bots. Anti-Spam by CleanTalk.

    The Real Person!

    Author Davidemeno acts as a real person and verified as not a bot.
    Passed all tests against spam bots. Anti-Spam by CleanTalk.

    kamagra en ligne: kamagra en ligne – Kamagra pharmacie en ligne

  2. Bernardgauch

    The Real Person!

    Author Bernardgauch acts as a real person and verified as not a bot.
    Passed all tests against spam bots. Anti-Spam by CleanTalk.

    The Real Person!

    Author Bernardgauch acts as a real person and verified as not a bot.
    Passed all tests against spam bots. Anti-Spam by CleanTalk.

    Acheter Kamagra site fiable: Kamagra Commander maintenant – Achetez vos kamagra medicaments

  3. Bernardgauch

    The Real Person!

    Author Bernardgauch acts as a real person and verified as not a bot.
    Passed all tests against spam bots. Anti-Spam by CleanTalk.

    The Real Person!

    Author Bernardgauch acts as a real person and verified as not a bot.
    Passed all tests against spam bots. Anti-Spam by CleanTalk.

    Kamagra Oral Jelly pas cher: Achetez vos kamagra medicaments – Achetez vos kamagra medicaments

  4. Bernardgauch

    The Real Person!

    Author Bernardgauch acts as a real person and verified as not a bot.
    Passed all tests against spam bots. Anti-Spam by CleanTalk.

    The Real Person!

    Author Bernardgauch acts as a real person and verified as not a bot.
    Passed all tests against spam bots. Anti-Spam by CleanTalk.

    pharmacie en ligne livraison europe: Pharmacie en ligne livraison Europe – Achat mГ©dicament en ligne fiable pharmafst.com

  5. Bernardgauch

    The Real Person!

    Author Bernardgauch acts as a real person and verified as not a bot.
    Passed all tests against spam bots. Anti-Spam by CleanTalk.

    The Real Person!

    Author Bernardgauch acts as a real person and verified as not a bot.
    Passed all tests against spam bots. Anti-Spam by CleanTalk.

    Kamagra pharmacie en ligne: kamagra 100mg prix – kamagra 100mg prix

  6. Stevennen

    The Real Person!

    Author Stevennen acts as a real person and verified as not a bot.
    Passed all tests against spam bots. Anti-Spam by CleanTalk.

    The Real Person!

    Author Stevennen acts as a real person and verified as not a bot.
    Passed all tests against spam bots. Anti-Spam by CleanTalk.

    reliable canadian online pharmacy: canadian pharmacy prices – canada discount pharmacy

  7. Stevennen

    The Real Person!

    Author Stevennen acts as a real person and verified as not a bot.
    Passed all tests against spam bots. Anti-Spam by CleanTalk.

    The Real Person!

    Author Stevennen acts as a real person and verified as not a bot.
    Passed all tests against spam bots. Anti-Spam by CleanTalk.

    reputable canadian pharmacy: Express Rx Canada – cheapest pharmacy canada

  8. Stevennen

    The Real Person!

    Author Stevennen acts as a real person and verified as not a bot.
    Passed all tests against spam bots. Anti-Spam by CleanTalk.

    The Real Person!

    Author Stevennen acts as a real person and verified as not a bot.
    Passed all tests against spam bots. Anti-Spam by CleanTalk.

    mexican online pharmacy: mexican online pharmacy – Rx Express Mexico

  9. Stevennen

    The Real Person!

    Author Stevennen acts as a real person and verified as not a bot.
    Passed all tests against spam bots. Anti-Spam by CleanTalk.

    The Real Person!

    Author Stevennen acts as a real person and verified as not a bot.
    Passed all tests against spam bots. Anti-Spam by CleanTalk.

    mexico drug stores pharmacies: Rx Express Mexico – mexico pharmacy order online

  10. Stevennen

    The Real Person!

    Author Stevennen acts as a real person and verified as not a bot.
    Passed all tests against spam bots. Anti-Spam by CleanTalk.

    The Real Person!

    Author Stevennen acts as a real person and verified as not a bot.
    Passed all tests against spam bots. Anti-Spam by CleanTalk.

    indian pharmacy online shopping: Medicine From India – indian pharmacy online

  11. Stevennen

    The Real Person!

    Author Stevennen acts as a real person and verified as not a bot.
    Passed all tests against spam bots. Anti-Spam by CleanTalk.

    The Real Person!

    Author Stevennen acts as a real person and verified as not a bot.
    Passed all tests against spam bots. Anti-Spam by CleanTalk.

    canadian pharmacy near me: Express Rx Canada – canadian pharmacy world reviews

  12. Brianhig

    The Real Person!

    Author Brianhig acts as a real person and verified as not a bot.
    Passed all tests against spam bots. Anti-Spam by CleanTalk.

    The Real Person!

    Author Brianhig acts as a real person and verified as not a bot.
    Passed all tests against spam bots. Anti-Spam by CleanTalk.

    pin up azerbaycan: pinup az – pin-up casino giris

  13. Brianhig

    The Real Person!

    Author Brianhig acts as a real person and verified as not a bot.
    Passed all tests against spam bots. Anti-Spam by CleanTalk.

    The Real Person!

    Author Brianhig acts as a real person and verified as not a bot.
    Passed all tests against spam bots. Anti-Spam by CleanTalk.

    вавада казино: vavada – вавада зеркало

  14. Brianhig

    The Real Person!

    Author Brianhig acts as a real person and verified as not a bot.
    Passed all tests against spam bots. Anti-Spam by CleanTalk.

    The Real Person!

    Author Brianhig acts as a real person and verified as not a bot.
    Passed all tests against spam bots. Anti-Spam by CleanTalk.

    pin up az: pin up – pin up az

  15. Brianhig

    The Real Person!

    Author Brianhig acts as a real person and verified as not a bot.
    Passed all tests against spam bots. Anti-Spam by CleanTalk.

    The Real Person!

    Author Brianhig acts as a real person and verified as not a bot.
    Passed all tests against spam bots. Anti-Spam by CleanTalk.

    пин ап казино: pin up вход – пин ап казино официальный сайт

  16. Brianhig

    The Real Person!

    Author Brianhig acts as a real person and verified as not a bot.
    Passed all tests against spam bots. Anti-Spam by CleanTalk.

    The Real Person!

    Author Brianhig acts as a real person and verified as not a bot.
    Passed all tests against spam bots. Anti-Spam by CleanTalk.

    пин ап вход: пин ап казино официальный сайт – пин ап казино официальный сайт

  17. Brianhig

    The Real Person!

    Author Brianhig acts as a real person and verified as not a bot.
    Passed all tests against spam bots. Anti-Spam by CleanTalk.

    The Real Person!

    Author Brianhig acts as a real person and verified as not a bot.
    Passed all tests against spam bots. Anti-Spam by CleanTalk.

    pin up az: pin up az – pin up

  18. Brianhig

    The Real Person!

    Author Brianhig acts as a real person and verified as not a bot.
    Passed all tests against spam bots. Anti-Spam by CleanTalk.

    The Real Person!

    Author Brianhig acts as a real person and verified as not a bot.
    Passed all tests against spam bots. Anti-Spam by CleanTalk.

    пин ап казино: pin up вход – pin up вход

  19. Brianhig

    The Real Person!

    Author Brianhig acts as a real person and verified as not a bot.
    Passed all tests against spam bots. Anti-Spam by CleanTalk.

    The Real Person!

    Author Brianhig acts as a real person and verified as not a bot.
    Passed all tests against spam bots. Anti-Spam by CleanTalk.

    вавада официальный сайт: вавада зеркало – vavada casino

  20. HectorOmibe

    The Real Person!

    Author HectorOmibe acts as a real person and verified as not a bot.
    Passed all tests against spam bots. Anti-Spam by CleanTalk.

    The Real Person!

    Author HectorOmibe acts as a real person and verified as not a bot.
    Passed all tests against spam bots. Anti-Spam by CleanTalk.

    http://pinupaz.top/# pin up

  21. AlbertoWem

    The Real Person!

    Author AlbertoWem acts as a real person and verified as not a bot.
    Passed all tests against spam bots. Anti-Spam by CleanTalk.

    The Real Person!

    Author AlbertoWem acts as a real person and verified as not a bot.
    Passed all tests against spam bots. Anti-Spam by CleanTalk.

    FDA approved generic Cialis: Cialis without prescription – Cialis without prescription

  22. AlbertoWem

    The Real Person!

    Author AlbertoWem acts as a real person and verified as not a bot.
    Passed all tests against spam bots. Anti-Spam by CleanTalk.

    The Real Person!

    Author AlbertoWem acts as a real person and verified as not a bot.
    Passed all tests against spam bots. Anti-Spam by CleanTalk.

    buy modafinil online: verified Modafinil vendors – Modafinil for sale

  23. AlbertoWem

    The Real Person!

    Author AlbertoWem acts as a real person and verified as not a bot.
    Passed all tests against spam bots. Anti-Spam by CleanTalk.

    The Real Person!

    Author AlbertoWem acts as a real person and verified as not a bot.
    Passed all tests against spam bots. Anti-Spam by CleanTalk.

    modafinil pharmacy: purchase Modafinil without prescription – safe modafinil purchase

  24. AlbertoWem

    The Real Person!

    Author AlbertoWem acts as a real person and verified as not a bot.
    Passed all tests against spam bots. Anti-Spam by CleanTalk.

    The Real Person!

    Author AlbertoWem acts as a real person and verified as not a bot.
    Passed all tests against spam bots. Anti-Spam by CleanTalk.

    order Cialis online no prescription: discreet shipping ED pills – buy generic Cialis online

  25. AlbertoWem

    The Real Person!

    Author AlbertoWem acts as a real person and verified as not a bot.
    Passed all tests against spam bots. Anti-Spam by CleanTalk.

    The Real Person!

    Author AlbertoWem acts as a real person and verified as not a bot.
    Passed all tests against spam bots. Anti-Spam by CleanTalk.

    same-day Viagra shipping: buy generic Viagra online – legit Viagra online

  26. AlbertoWem

    The Real Person!

    Author AlbertoWem acts as a real person and verified as not a bot.
    Passed all tests against spam bots. Anti-Spam by CleanTalk.

    The Real Person!

    Author AlbertoWem acts as a real person and verified as not a bot.
    Passed all tests against spam bots. Anti-Spam by CleanTalk.

    Modafinil for sale: purchase Modafinil without prescription – safe modafinil purchase

  27. AlbertoWem

    The Real Person!

    Author AlbertoWem acts as a real person and verified as not a bot.
    Passed all tests against spam bots. Anti-Spam by CleanTalk.

    The Real Person!

    Author AlbertoWem acts as a real person and verified as not a bot.
    Passed all tests against spam bots. Anti-Spam by CleanTalk.

    online Cialis pharmacy: cheap Cialis online – best price Cialis tablets

  28. AlbertoWem

    The Real Person!

    Author AlbertoWem acts as a real person and verified as not a bot.
    Passed all tests against spam bots. Anti-Spam by CleanTalk.

    The Real Person!

    Author AlbertoWem acts as a real person and verified as not a bot.
    Passed all tests against spam bots. Anti-Spam by CleanTalk.

    discreet shipping ED pills: FDA approved generic Cialis – affordable ED medication

  29. AlbertoWem

    The Real Person!

    Author AlbertoWem acts as a real person and verified as not a bot.
    Passed all tests against spam bots. Anti-Spam by CleanTalk.

    The Real Person!

    Author AlbertoWem acts as a real person and verified as not a bot.
    Passed all tests against spam bots. Anti-Spam by CleanTalk.

    modafinil 2025: modafinil 2025 – modafinil pharmacy

  30. AlbertoWem

    The Real Person!

    Author AlbertoWem acts as a real person and verified as not a bot.
    Passed all tests against spam bots. Anti-Spam by CleanTalk.

    The Real Person!

    Author AlbertoWem acts as a real person and verified as not a bot.
    Passed all tests against spam bots. Anti-Spam by CleanTalk.

    order Viagra discreetly: buy generic Viagra online – trusted Viagra suppliers

  31. AlbertoWem

    The Real Person!

    Author AlbertoWem acts as a real person and verified as not a bot.
    Passed all tests against spam bots. Anti-Spam by CleanTalk.

    The Real Person!

    Author AlbertoWem acts as a real person and verified as not a bot.
    Passed all tests against spam bots. Anti-Spam by CleanTalk.

    cheap Viagra online: generic sildenafil 100mg – best price for Viagra

  32. AlbertoWem

    The Real Person!

    Author AlbertoWem acts as a real person and verified as not a bot.
    Passed all tests against spam bots. Anti-Spam by CleanTalk.

    The Real Person!

    Author AlbertoWem acts as a real person and verified as not a bot.
    Passed all tests against spam bots. Anti-Spam by CleanTalk.

    secure checkout Viagra: discreet shipping – discreet shipping

  33. Judsonminly

    The Real Person!

    Author Judsonminly acts as a real person and verified as not a bot.
    Passed all tests against spam bots. Anti-Spam by CleanTalk.

    The Real Person!

    Author Judsonminly acts as a real person and verified as not a bot.
    Passed all tests against spam bots. Anti-Spam by CleanTalk.

    Amo Health Care: Amo Health Care – buy amoxicillin canada

  34. Judsonminly

    The Real Person!

    Author Judsonminly acts as a real person and verified as not a bot.
    Passed all tests against spam bots. Anti-Spam by CleanTalk.

    The Real Person!

    Author Judsonminly acts as a real person and verified as not a bot.
    Passed all tests against spam bots. Anti-Spam by CleanTalk.

    buy amoxil: amoxicillin generic – amoxicillin canada price

  35. Judsonminly

    The Real Person!

    Author Judsonminly acts as a real person and verified as not a bot.
    Passed all tests against spam bots. Anti-Spam by CleanTalk.

    The Real Person!

    Author Judsonminly acts as a real person and verified as not a bot.
    Passed all tests against spam bots. Anti-Spam by CleanTalk.

    where can i buy clomid without rx: where buy generic clomid online – order cheap clomid without prescription

  36. Judsonminly

    The Real Person!

    Author Judsonminly acts as a real person and verified as not a bot.
    Passed all tests against spam bots. Anti-Spam by CleanTalk.

    The Real Person!

    Author Judsonminly acts as a real person and verified as not a bot.
    Passed all tests against spam bots. Anti-Spam by CleanTalk.

    PredniHealth: PredniHealth – prednisone over the counter uk

Leave a Comment

Your email address will not be published. Required fields are marked *