Latest news with #EML
Hans India
6 days ago
- Health
- Hans India
State defends move to discontinue Jan Aushadhi Kendras in govt hospitals
Bengaluru: Health Minister Dinesh Gundu Rao has defended the state government's decision to discontinue Jan Aushadhi Kendras operating within government hospital premises, saying the move is intended to ensure the free and assured supply of essential medicines to patients and to reduce their out-of-pocket expenditure. Rao's clarification came in response to concerns raised by Union Health Minister Jagat Prakash Nadda in a recent letter to Chief Minister Siddaramaiah regarding the closure of JAKs within government hospitals in Karnataka. In a letter addressed to Nadda on August 5, Rao stated that the Karnataka government is committed to the free supply of all essential medicines, as listed in the Essential Medicines List (EML), across government healthcare institutions. To streamline public healthcare delivery and eliminate the risk of patients being denied medicines at government facilities, the State Government has directed that prescriptions by government doctors be limited to medicines available within the hospital supply, Rao said. He further explained that medicines are regularly provided to government hospitals through the Karnataka State Medical Supplies Corporation Limited (KSMSCL). Hospitals have also been allocated sufficient funds and have standing instructions to purchase medicines locally in case of any shortage. 'This effort aims to ensure universal access to essential medicines for patients visiting government hospitals—entirely free of cost,' Rao said. Justifying the move to discontinue JAKs within government hospital premises, the minister said the decision was taken to prevent doctors from directing patients to purchase medicines from these outlets, thereby ensuring they are not denied free medicines available at the hospitals. 'However, this decision does not restrict the operation of Jan Aushadhi Kendras outside government premises. Citizens remain free to access them as per their choice,' Rao clarified. He noted that Karnataka ranks among the top states in terms of the number of operational JAKs, with over 1,417 currently functioning. Of these, only 184 are located within the premises of government hospitals under the Department of Health and Family Welfare, while the rest operate independently outside government campuses. 'This move is primarily aimed at benefiting poor and marginalised patients who rely heavily on government hospitals for healthcare,' Rao said. Highlighting the affordability of medicines sold under the Pradhan Mantri Bhartiya Janaushadhi Pariyojana (PMBJP), Rao noted that the scheme offers medicines at prices 50-80 per cent lower than branded alternatives. He added that PMBJP is implemented by the Pharma and Medical Bureau of India (PMBI), a society registered under the Societies Registration Act. 'It is requested that PMBI be directed to supply medicines to the Karnataka Health Department at the same rates offered to JAKs. This will go a long way in supporting the state's free drug supply initiative,' Rao urged in the letter. Reiterating the state's commitment to affordable and quality healthcare, Rao said Karnataka is continually working to improve its public health supply chain and ensure rational medicine usage. 'We deeply value your concern for public health and reaffirm our shared commitment to the welfare of the people,' he concluded.
Time of India
7 days ago
- Health
- Time of India
K'taka defends move to discontinue Jan Aushadhi Kendras in govt hospitals; Minister writes to Nadda
Bengaluru: Karnataka Health Minister Dinesh Gundu Rao has defended the state government's decision to discontinue Jan Aushadhi Kendras operating within government hospital premises, saying the move is intended to ensure the free and assured supply of essential medicines to patients and to reduce their out-of-pocket expenditure. Rao's clarification came in response to concerns raised by Union Health Minister Jagat Prakash Nadda in a recent letter to Chief Minister Siddaramaiah regarding the closure of JAKs within government hospitals in Karnataka. In a letter addressed to Nadda on August 5, Rao stated that the Karnataka government is committed to the free supply of all essential medicines, as listed in the Essential Medicines List (EML), across government healthcare institutions. To streamline public healthcare delivery and eliminate the risk of patients being denied medicines at government facilities, the State Government has directed that prescriptions by government doctors be limited to medicines available within the hospital supply, Rao said. He further explained that medicines are regularly provided to government hospitals through the Karnataka State Medical Supplies Corporation Limited (KSMSCL). Hospitals have also been allocated sufficient funds and have standing instructions to purchase medicines locally in case of any shortage. "This effort aims to ensure universal access to essential medicines for patients visiting government hospitals-entirely free of cost," Rao said. Justifying the move to discontinue JAKs within government hospital premises, the minister said the decision was taken to prevent doctors from directing patients to purchase medicines from these outlets, thereby ensuring they are not denied free medicines available at the hospitals. "However, this decision does not restrict the operation of Jan Aushadhi Kendras outside government premises. Citizens remain free to access them as per their choice," Rao clarified. He noted that Karnataka ranks among the top states in terms of the number of operational JAKs, with over 1,417 currently functioning. Of these, only 184 are located within the premises of government hospitals under the Department of Health and Family Welfare, while the rest operate independently outside government campuses. "This move is primarily aimed at benefiting poor and marginalised patients who rely heavily on government hospitals for healthcare," Rao said. Highlighting the affordability of medicines sold under the Pradhan Mantri Bhartiya Janaushadhi Pariyojana ( PMBJP ), Rao noted that the scheme offers medicines at prices 50-80 per cent lower than branded alternatives. He added that PMBJP is implemented by the Pharma and Medical Bureau of India (PMBI), a society registered under the Societies Registration Act. "It is requested that PMBI be directed to supply medicines to the Karnataka Health Department at the same rates offered to JAKs. This will go a long way in supporting the state's free drug supply initiative," Rao urged in the letter. Reiterating the state's commitment to affordable and quality healthcare, Rao said Karnataka is continually working to improve its public health supply chain and ensure rational medicine usage. "We deeply value your concern for public health and reaffirm our shared commitment to the welfare of the people," he concluded. PTI
The Hindu
7 days ago
- Health
- The Hindu
Closure of Jan Aushadi Kendras: Karnataka's Health Minister justifies move, says it is to ensure free medicines
Justifying Karnataka's move to close Jan Aushadi Kendras on the premises of government-run hospitals, Health Minister Dinesh Gundu Rao wrote to Union Health Minister J.P. Nadda on Tuesday stating that the move was intended to ensure free and assured supply of essential medicines to patients. Responding to the Union Health Minister's letter to Chief Minister Siddaramaiah on the issue, Mr. Rao has said the intention to close the kendras only on the premises of government hospitals is to reduce the out-of-pocket expenditure for patients. 'The decision was taken to prevent doctors from directing patients to purchase medicines from these commercial outlets, thereby ensuring they are not denied free medicines available at the hospitals,' he said in the letter. Karnataka ranks among the top States in terms of the number of operational Jan Aushadi Kendras, with over 1,417 currently functioning. Of these, only 184 are located on the premises of government hospitals under the Department of Health and Family Welfare, while the rest operate independently outside government hospital campuses. Free supply Stating that the Karnataka government is committed to the free supply of all essential medicines, as listed in the Essential Medicines List (EML), across public healthcare institutions, Mr. Rao's letter said: 'To streamline public healthcare delivery and eliminate the risk of patients being denied medicines at government facilities, the State government has directed that prescriptions by government doctors be limited to medicines available within the hospital supply.' 'Medicines are regularly provided to government hospitals through Karnataka State Medical Supplies Corporation Limited (KSMSCL). Hospitals have also been allocated sufficient funds and have standing instructions to purchase medicines locally in case of any shortage. This effort is aimed at ensuring universal access to essential medicines for patients visiting government hospitals — entirely free of cost,' Mr. Rao said in the letter. Asserting that the decision does not restrict the operation of Jan Aushadhi Kendras outside government hospital premises, Mr. Rao said citizens are free to access them as per their choice. 'This move is primarily aimed at benefiting poor and marginalised patients who rely heavily on government hospitals for healthcare,' the Minister said in the letter. Subsidised rate Highlighting the affordability of medicines sold under the Pradhan Mantri Bhartiya Janaushadhi Pariyojana (PMBJP), Mr. Rao noted that the scheme offers medicines at prices 50% to 80% lower than branded alternatives. PMBJP is implemented by the Pharma and Medical Bureau of India (PMBI), a society registered under the Societies Registration Act. Mr. Rao urged Mr. Nadda to direct PMBI to supply medicines to Karnataka's Health Department at the same rates offered to Jan Aushadi Kendras. 'This will go a long way in supporting the State's free drug supply initiative,' he added.
Globe and Mail
7 days ago
- Business
- Globe and Mail
Eastern (EML) Fiscal Q2 Revenue Rises
Key Points Gross margin declined by 2.1 percentage points to 23.3% compared to the second quarter of 2024, reflecting higher costs and supply mix changes. These 10 stocks could mint the next wave of millionaires › Eastern (NASDAQ:EML) is a diversified industrial company focused on engineered solutions for commercial, transportation, and industrial end-markets. The company reported its second-quarter fiscal 2025 results on August 5, 2025, revealing results that topped analyst expectations for both adjusted earnings per share and revenue. Adjusted earnings per share from continuing operations was $0.57 for Q2 FY2025, beating the $0.54 consensus non-GAAP EPS estimate, while GAAP revenue reached $70.2 million, ahead of the $68.87 million GAAP estimate. Despite these beats, both metrics fell compared to the prior year, with operating results pressured by ongoing weakness in core transportation and industrial end-markets. Overall, the period showed progress in cost-control and portfolio actions but highlighted ongoing market and structural pressures. Metric Q2 2025 Q2 2025 Estimate Q2 2024 Y/Y Change EPS from Continuing Operations (Non-GAAP) $0.57 $0.54 $0.65 (12.3%) Revenue $70.2 million $68.87 million $72.6 million (3.3%) Gross Margin 23.3% 25.4% (2.1 pp) Adjusted EBITDA (Non-GAAP) $6.7 million $8.0 million (16.3%) Net Income from Continuing Operations $2.0 million $4.1 million (50.2%) Source: Analyst estimates for the quarter provided by FactSet. Company Background and Recent Strategic Priorities Eastern manufactures specialized components and engineered solutions used in transportation, industrial, and commercial applications. Its core businesses include Eberhard, which produces industrial latching and locking hardware; Velvac, a manufacturer of vision systems and mirrors for medium and heavy-duty trucks; and Big 3 Precision, which delivers packaging and racking products and blow molded tooling. In recent years, the company has focused on reshaping its business portfolio by divesting lower-margin or non-core businesses, such as the sale of the Big 3 Mold ISBM (Injection Stretch Blow Molding) unit. It has also made targeted acquisitions to build out high-growth product categories, like tractor-trailer electrical assemblies. Efficient operations, cost management, and product innovation remain key drivers of its strategy, aiming to offset competitive pricing pressure and cyclical swings in core end-markets like automotive and heavy-duty trucks. Quarter Highlights: Financial and Operational Trends The period was marked by lower sales in key segments. Net sales decreased 3% compared to the second quarter of 2024. The primary headwind was persistent weak demand for heavy-duty truck mirror assemblies within the Velvac business. This decline was partly offset by stronger sales of latch and lock hardware products at Eberhard, which saw a boost from contracts supplying security hardware for the United States Postal Service's (USPS) new vehicle fleet. GAAP gross margin fell to 23.3%, Gross margin was down 2.1 percentage points compared to the second quarter of 2024. Management attributed this decrease to higher costs for raw materials, as supply arrangements shifted from customer-supplied to company-sourced materials. Selling, general and administrative expenses rose by 9.4% compared to the prior-year period, mainly due to $1.8 million in restructuring charges. These charges included workforce reductions at Eberhard, Velvac, and at the corporate level, with the expectation of eventual cost savings beginning in 2026. GAAP net income from continuing operations dropped from $4.1 million in the second quarter of 2024 to $2.0 million in the second quarter of 2025, as both lower sales and compressed margins outpaced gains from cost actions. Adjusted EBITDA (non-GAAP) was also down 15.4% compared to the same quarter last year. The drop in core profitability, alongside higher operating expenses, weighed on earnings, though results were helped by ongoing restructuring efforts. These initiatives are expected to deliver approximately $4 million in annual cash cost savings beginning in 2026. Cash generation was a challenge during the period. The company repaid $5.9 million in debt year-to-date and repurchased approximately $2.1 million of its common stock year-to-date, with nearly 31,000 shares bought back in the quarter. Dividends remained flat at $0.11 per share for both Q1 and Q2. The balance sheet showed a decline in cash and equivalents to $9.1 million at quarter-end, with shareholders' equity (GAAP) up $3.8 million from December 28, 2024 to June 28, 2025 from retained earnings and capital management. Business Segment and Product Updates The Eberhard segment is known for manufacturing latches, locks, and related security hardware. In the period, it saw growth tied to the USPS vehicle upgrade contract, adding momentum to new product launches, supporting customer wins despite challenging market conditions. Velvac, which designs and supplies vision systems and mirrors chiefly for heavy-duty trucks, continued to experience headwinds as weak production volumes impacted sales. Despite these challenges, the business has been focused on expanding into aftermarket channels and pursuing vertical integration -- that is, bringing more steps of the manufacturing process in-house for better cost control and efficiency. Management highlighted that the team remains intent on growing their share of the Class 8 truck market, even as overall demand in the segment remains soft. Big 3 Precision manufactures packaging and racking systems and custom blow mold tooling. The business largely completed its restructuring, including divesting the ISBM blow molding unit and moving engineering operations from Dearborn to a more efficient facility in Sterling Heights, Michigan, a transition first announced in May 2025. This transition, paired with consolidating production in Centralia, Illinois, aims to streamline operations, lower costs, and make the supply chain more resilient by relying on U.S.-based resources. The segment remains positioned to benefit if North American customers resume higher levels of capital spending, particularly in returnable packaging. The quarter also included a one-time gain of $2.02 million (GAAP) from the sale of discontinued operations, contributing positively to overall results but not impacting ongoing profitability. Management noted that anticipated annual savings from cost reductions will begin to be realized starting in 2026, though the current period reflects only the restructuring expenses without the benefit of these future savings. The quarterly dividend was unchanged at $0.11 per share. Outlook and Forward View The company did not provide full-year financial guidance for fiscal 2025. Management reiterated that efficiency initiatives, portfolio realignment, and a disciplined approach to capital allocation put it in a position to pursue targeted acquisitions. Cost savings of approximately $4 million per year are expected to begin accruing in 2026. Near-term caution remains appropriate, as the company continues to face demand risks in core truck and automotive markets and elevated raw material costs. Investors should continue to monitor the pace of cost savings realization from the recent restructuring, progress toward securing additional contracts in higher-margin end-markets, and execution on accretive acquisitions. Segment-level detail and the impact from new postal-related contracts at Eberhard or further volume gains at Velvac and Big 3 Precision could shape the company's trajectory throughout fiscal 2025 and beyond. The quarterly dividend was unchanged at $0.11 per share. Revenue and net income presented using U.S. generally accepted accounting principles (GAAP) unless otherwise noted. Where to invest $1,000 right now When our analyst team has a stock tip, it can pay to listen. After all, Stock Advisor's total average return is 1,039%* — a market-crushing outperformance compared to 181% for the S&P 500. They just revealed what they believe are the 10 best stocks for investors to buy right now, available when you join Stock Advisor. 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Yahoo
03-08-2025
- Business
- Yahoo
The Eastern Company (NASDAQ:EML) is favoured by institutional owners who hold 64% of the company
Key Insights Institutions' substantial holdings in Eastern implies that they have significant influence over the company's share price 52% of the business is held by the top 8 shareholders Recent purchases by insiders We've found 21 US stocks that are forecast to pay a dividend yield of over 6% next year. See the full list for free. If you want to know who really controls The Eastern Company (NASDAQ:EML), then you'll have to look at the makeup of its share registry. We can see that institutions own the lion's share in the company with 64% ownership. In other words, the group stands to gain the most (or lose the most) from their investment into the company. Since institutional have access to huge amounts of capital, their market moves tend to receive a lot of scrutiny by retail or individual investors. Hence, having a considerable amount of institutional money invested in a company is often regarded as a desirable trait. In the chart below, we zoom in on the different ownership groups of Eastern. Check out our latest analysis for Eastern What Does The Institutional Ownership Tell Us About Eastern? Institutions typically measure themselves against a benchmark when reporting to their own investors, so they often become more enthusiastic about a stock once it's included in a major index. We would expect most companies to have some institutions on the register, especially if they are growing. We can see that Eastern does have institutional investors; and they hold a good portion of the company's stock. This suggests some credibility amongst professional investors. But we can't rely on that fact alone since institutions make bad investments sometimes, just like everyone does. If multiple institutions change their view on a stock at the same time, you could see the share price drop fast. It's therefore worth looking at Eastern's earnings history below. Of course, the future is what really matters. Since institutional investors own more than half the issued stock, the board will likely have to pay attention to their preferences. It looks like hedge funds own 10% of Eastern shares. That worth noting, since hedge funds are often quite active investors, who may try to influence management. Many want to see value creation (and a higher share price) in the short term or medium term. The company's largest shareholder is GAMCO Investors, Inc., with ownership of 11%. For context, the second largest shareholder holds about 10% of the shares outstanding, followed by an ownership of 8.2% by the third-largest shareholder. On further inspection, we found that more than half the company's shares are owned by the top 8 shareholders, suggesting that the interests of the larger shareholders are balanced out to an extent by the smaller ones. Researching institutional ownership is a good way to gauge and filter a stock's expected performance. The same can be achieved by studying analyst sentiments. We're not picking up on any analyst coverage of the stock at the moment, so the company is unlikely to be widely held. Insider Ownership Of Eastern While the precise definition of an insider can be subjective, almost everyone considers board members to be insiders. The company management answer to the board and the latter should represent the interests of shareholders. Notably, sometimes top-level managers are on the board themselves. Most consider insider ownership a positive because it can indicate the board is well aligned with other shareholders. However, on some occasions too much power is concentrated within this group. We can report that insiders do own shares in The Eastern Company. In their own names, insiders own US$9.2m worth of stock in the US$135m company. Some would say this shows alignment of interests between shareholders and the board, though we generally prefer to see bigger insider holdings. But it might be worth checking if those insiders have been selling. General Public Ownership The general public-- including retail investors -- own 19% stake in the company, and hence can't easily be ignored. While this group can't necessarily call the shots, it can certainly have a real influence on how the company is run. Next Steps: It's always worth thinking about the different groups who own shares in a company. But to understand Eastern better, we need to consider many other factors. For instance, we've identified 1 warning sign for Eastern that you should be aware of. Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting companies. NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
