Equity L/S Analyst | Forensic Accounting | India, Yellowstone Equity

Ankit Agrawal, CFA

I possess investment research experience across asset classes and geographies, acquired at Investcorp (New York) and Howe & Rusling (Rochester). At Investcorp, an alternative asset manager, I was part of an investment team managing >$1bn in discretionary client assets. I was also a member of investment recommendation, monitoring, cross-asset strategy and macro outlook committees that met periodically for investment decisions and top-down views. At Howe & Rusling, a long-only asset manager, I helped cover US large-cap equity investments across sectors for growth and income focused portfolios as well as assisted in managing a US small-cap growth focused equity portfolio. I possess an MBA in finance and corporate accounting from University of Rochester in US, a CFA Charter, and an Engineering degree from Indian Institute of Technology Bombay in India.  

My current focus is L/S equity fundamental research across market cap and sectors with an eye on corporate governance and forensic accounting. I am currently based in India and my current coverage universe is biased towards India.

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Regulatory Disclosure: Note that Ankit Agrawal (Proprietor of Yellowstone Equity) is a SEBI registered Research Analyst (Registration No.: INH000007216). Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. Investment in securities market are subject to market risks. Read all the related documents carefully before investing.

Research Analyst Contact Details -
Address: A-602, Titanium Business Park, Makarba, Ahmedabad - 380051 |
Email: services@yellowstoneequity.com |
Mobile: +91-7575817289

Compliance/Grievance Officer -
Name: Ankit Agrawal |
Email: services@yellowstoneequity.com |
Mobile: +91-7575817289
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Equity L/S Analyst | Forensic Accounting | India

Divi's Labs: Peak Margins, Peak Valuation and Maturing Growth Profile - Juice Is No More

Saroglitazar: Targeting Non-Alcoholic Steatohepatitis, a Potential US$35-40 Billion Market.

Cadila Healthcare: Potential More than 30% Upside.

Lupin Ltd.: Another Undervalued Generic Drugs Powerhouse

Equity Bottom-Up

Zydus Lifesciences Ltd / Equity Bottom-Up

<p>Cadila Healthcare reported its Q3FY21 earnings. Below, we note some of the key highlights from the earnings conference call.</p>
<p>Most promising aspect for Cadila is its focus on innovation that has been yielding good results with potential for launching a blockbuster drug in US. It has 4 NCEs (New Chemical Entities) in clinical development and 10+ NCEs/NBEs in pipeline. In particular, its NCE candidate, Saroglitazar Magnesium, for PBC disease has a USD 10bn+ global opportunity and Cadila has potential to be among the first wave of launches in US (represents 94%+ of the opportunity) with expected commercialization by FY23. Saroglitazar has potential to get approval for NASH disease in US by FY25. NASH has a much bigger opportunity with projected global market size of USD 27bn+. Another promising drug candidate is Desidustat where apart from large potential in treatment of anemia in CKD patients in India and China, there is orphan drug potential for niche chemotherapy-induced anemia condition in US.</p>

Cadila Healthcare reported its Q3FY21 earnings. Below, we note some of the key highlights from the earnings conference call.
Most promising aspect for Cadila is its focus on innovation that has been yielding good results with potential for launching a blockbuster drug in US. It has 4 NCEs (New Chemical Entities) in clinical development and 10+ NCEs/NBEs in pipeline. In particular, its NCE candidate, Saroglitazar Magnesium, for PBC disease has a USD 10bn+ global opportunity and Cadila has potential to be among the first wave of launches in US (represents 94%+ of the opportunity) with expected commercialization by FY23. Saroglitazar has potential to get approval for NASH disease in US by FY25. NASH has a much bigger opportunity with projected global market size of USD 27bn+. Another promising drug candidate is Desidustat where apart from large potential in treatment of anemia in CKD patients in India and China, there is orphan drug potential for niche chemotherapy-induced anemia condition in US.

Cadila Healthcare: Q3FY21 Earnings - Innovation in Focus