In today’s briefing:
- The Beat Ideas: Blue Jet Healthcare- Rising CDMO Player
- EQD | NSE Nifty Bank Index – Implied Volatility Not (Yet) Rich Enough.
- KPIT Tech: Strong Q3Y25 Despite Challenging Environment
- The Beat Ideas: Sigachi Industries- High Growth, Revenue Diversification, New Category Launch
- Rubber Board Launches Twin Projects To Propel Indian NR
The Beat Ideas: Blue Jet Healthcare- Rising CDMO Player
- Blue Jet Healthcare Ltd (BJHC IN) is a science-led pharmaceutical company that has evolved into a strategic partner for the CDMO of advanced Pharmaceutical Intermediates and APIs.
- Company gave a record breaking Q3FY25 primarily driven by capacity expansion in Contrast media and PI Segment. Strong demand for the cardiovascular product was also witnessed.
- Company commissioned an additional manufacturing block during Q3 FY25 at Ambernath for manufacturing Advance Contrast Media with investment around Rs. 100Mn.
EQD | NSE Nifty Bank Index – Implied Volatility Not (Yet) Rich Enough.
- NSE Nifty Bank Index implied volatility could be seen as rich when compared to its own history and in comparison to realized volatility.
- Putting implied volatility into context with the NSE Nifty Bank Index 200 day moving average will lead to a different conclusion. Selling volatility might not be the opportunity it seems.
- This Insight provides a quantitative indication at which level implied volatility can be assessed as rich.
KPIT Tech: Strong Q3Y25 Despite Challenging Environment
- KPIT Technologies (“KPIT”) reported decent growth despite challenging macroeconomic environment in the automotive OEM segment. Q3FY25 revenue grew 17.4% YoY and 2.0% QoQ in constant currency (CC) terms.
- Led by improved efficiency and revenue mix, EBITDA margin came in stronger than expected at 21.1%. This led KPIT to raise its FY25 EBITDA guidance to 21%+ from 20.5%+.
- Deal engagement has been strong. TCV came in at $236mm vs typical run-rate of $150mm+. Deal pipeline is also healthy and the management is expecting substantial closures by H1FY26.
The Beat Ideas: Sigachi Industries- High Growth, Revenue Diversification, New Category Launch
- Sigachi Industries (SIGACHI IN) has increased MCC capacity to 21,700 MTPA and expects to achieve 80-90% utilization by Q4 FY27 from 50% utilization in Q4FY25.
- Sigachi is increasing its focus on the API segment, with a target of 20-25% revenue contribution in next 2-3 yrs and further expanding to 35-40% of revenue in 3-5 Yrs.
- Sigachi is introducing new product lines including pharmaceutical coatings like PureCoat and UltraMod and plans to commercialize Croscarmellose Sodium (CCS) by FY26 to enhance drug stability and bioavailability.
Rubber Board Launches Twin Projects To Propel Indian NR
- iSNR (Indian Sustainable Natural Rubber) to deal with EUDR
- INR Konnect to help idling plantations come alive
- iSNR to fetch a premium of 10-35% in global markets
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