Latest news with #Juneja
Mint
27-05-2025
- Business
- Mint
Mankind to expand gastro, derma presence, says MD Rajeev Juneja
Mankind Pharma is focused on expanding its presence in the gastrointestinal and dermatology segments this year, as it looks at expanding its presence in the chronic segments, managing director Rajeev Juneja toldMintin an interview. 'We are not great in the gastro [segment]...we have decided that we are supposed to work a lot in gastro because it has become semi-chronic, and our inclination is towards the chronic side," Juneja said, adding thatgastro in India is one of the fastest-growing segments. 'Along with this, we are working on derma as well," he said. The gastro segment grew 7.3% year on year in April, according to pharma intelligence platform Pharmarack. Further, Mankind is developing a novel anti-obesity and diabetes drug in-house. The drug candidate, GRP119, is currently in phase 2 trials in Australia, and Juneja said that results are expected in the next six to nine months. In FY25, Mankind signed a non-exclusive patent licensing agreement with Takeda Pharmaceuticals to commercialise its novel drug Vonoprazan, to treat Gastroesophageal Reflux Disease (GERD). Also Read: Sun Pharma to ramp up growth-boosting specialty portfolio in FY26 Juneja said that the company is evaluating all options to increase its presence in these therapy areas, including in-licensing products from innovators or small acquisitions. 'No past strategy can be guaranteed for future success. So we need to apply our mind and try to bring some kind of differentiation in whatever we do," said Juneja. 'The point is that once we decide that our intention is that we are supposed to be good on the gastro side, we start searching for avenues, we start searching for people, we start searching for products," he said. The company will also continue to strengthen its leadership in the women's health segment, which received a boost last year through its acquisition of Bharat Serum and Vaccines (BSV). With its foundation strengthened in FY25, Mankind aims to grow 1.2 to 1.3 times the Indian pharmaceutical market. Juneja said this will be driven by its focus on its chronic domestic formulations portfolio. Juneja said the focus is also on growing larger brands, from the current ₹50 crore to ₹100 crore brands for products to ₹500 crore brands. 'This is the strategy we basically want to pursue in future, because we have seen that once you create that kind of a brand, that's a very big entry barrier," he added. BSV acquisition Mankind is on track with the integration of BSV, which it acquired for ₹13,768 crore in October 2024. The integration will be funded through a mix of internal accruals and external debt. Juneja said the company focused on removing the 'extra flab" and bringing in the right talent for the acquired entity in FY25. This year, he expects 18-20% growth from the BSV portfolio. The goal is to increase the reach and awareness of BSV's niche super-speciality products. BSV is working on two biosimilars, the company's investor presentation highlighted, although Juneja declined to share more details on the BSV pipeline. Also Read: Emcure Pharmaceuticals to expand gynaecology, derma portfolio for India market in FY26 Vishal Manchanda, senior vice president of Institutional Equities at Systematix Group, toldMintthat BSV's platform and skillset for making recombinant drugs (created by inserting genes from one species into a host species) can be leveraged to make biosimilars. Select companies in India, including Biocon, are skilled at the recombinant process. However, Manchanda pointed out that Mankind has the potential to scale this up meaningfully. Innovation push 'If you're a pharma company, naturally, you gain respect once you have great R&D," Juneja said. 'We started our own R&D in Mankind 13-14 years back…going forward, we'll be putting a bit more money in the R&D side…our R&D expenses will increase because that would be the future need as well." 'We wish to become a bigger company…our dream is to become India's number one company on the domestic side," Juneja said, adding that 'we need to have certain innovative products, and we are working for that". Mankind's focus on innovation and speciality segments comes as the Indian pharmaceutical market has become more crowded. Most segments already have established market leaders. '…the promoters are realising that there is a challenge to growth. And they know the space they have been playing in is now kind of difficult to expand from where they are, meaningfully expand from where they are. So I think Mankind promoters being extremely committed to India business, they are also kind of prepared on how to take this forward," Manchanda said. 'What they are actually looking for is a bigger avenue to build growth on," he added, referring to Mankind's BSV acquisition. Internal corrections Mankind undertook several internal correction initiatives in the last year, including leadership changes and improving synergies between its divisions, Juneja said. Also Read: Zydus bets big on vaccines and medtech 'If you look at the history of Mankind, in 30 years, we have become the fourth largest company," Juneja said, adding that for any company growing very fast, there comes a time when growth plateaus. 'But once you bring commercial excellence, you bring people from outside…a number of flaws can come in front of you, and you have two choices: Either to remove those flaws gradually without affecting your sales and profit and growth, or second, do it immediately," Juneja said. 'We belong to the second category, and we decided that by March 2025, we'll clean up Mankind from every side," he added.
Time of India
14-05-2025
- Business
- Time of India
JM Financial retains Buy on Swiggy, revises target price to Rs 450
JM Financial has maintained a Buy call on Swiggy with a target price of Rs 450 (earlier Rs 500). The current market price of Swiggy Ltd. is Rs 310.2 Time period given by analyst is a year when Swiggy price can reach the defined target. Swiggy, incorporated in 2013, is a Small Cap company with a market cap of Rs 68891.67 crore, operating in the Services sector. Swiggy's key products/revenue segments include Platform Services, Other Operating Revenue and Sale of Food for the year ending 31-Mar-2024. Financials For the quarter ended 31-03-2025, the company has reported a Consolidated Total Income of Rs 4530.71 crore, up 10.62% from last quarter Total Income of Rs 4095.84 crore and up 44.14% from last year same quarter Total Income of Rs 3143.24 crore. The company has reported net profit after tax of Rs -1078.96 crore in the latest quarter. The company's top management includes Kripalu, Juneja, Sharma, Daniel, Mitra, Barua, Vishnubhai Haribhakti, Nandan Reddy Obul, Majety, Clark Rabalais. The company has B S R & Co. LLP as its auditors. As on 31-03-2025, the company has a total of 229 crore shares outstanding. Live Events Investment Rationale JM Financial continues to value Swiggy?s food delivery business at 45x EV/ FY27E Adj. EBITDA multiple. They value Instamart at 0.5x EV/ FY27E GOV multiple versus 1.0x earlier due to substantial margin profile deterioration amidst high competitive pressures. For other businesses, JM Financial now uses 1x EV/GOV FY27E multiple (from 0.9x earlier) for out-of-home consumption as it has turned profitable while continuing to use 0.5x EV/Sales multiple for supply chain and distribution. Accordingly, the revised SOTP based Mar?26 target price works out to Rs 450 vs. Rs 500 earlier. While they see near-term pressures on the stock price, longterm investors can use these liquidity events to build a sizeable position in Swiggy as, at CMP, the market seems to accord value to only its food delivery business, whereas Instamart and other businesses are not getting any meaningful value. The brokerage maintains BUY.
Economic Times
14-05-2025
- Business
- Economic Times
JM Financial retains Buy on Swiggy, revises target price to Rs 450
JM Financial suggests buying Swiggy shares. The target price is now Rs 450. Earlier it was Rs 500. This target may be achieved in a year. Swiggy's total income rose significantly. However, the company reported a net loss. The brokerage believes the market undervalues Instamart and other ventures. They advise long-term investors to consider Swiggy. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads (Disclaimer: Views and recommendations given in this section are the analysts' own and do not represent those of Please consult your financial adviser before taking any position in the stock/s mentioned.) JM Financial has maintained a Buy call on Swiggy with a target price of Rs 450 (earlier Rs 500). The current market price of Swiggy Ltd. is Rs 310.2 Time period given by analyst is a year when Swiggy price can reach the defined target. Swiggy, incorporated in 2013, is a Small Cap company with a market cap of Rs 68891.67 crore, operating in the Services key products/revenue segments include Platform Services, Other Operating Revenue and Sale of Food for the year ending the quarter ended 31-03-2025, the company has reported a Consolidated Total Income of Rs 4530.71 crore, up 10.62% from last quarter Total Income of Rs 4095.84 crore and up 44.14% from last year same quarter Total Income of Rs 3143.24 crore. The company has reported net profit after tax of Rs -1078.96 crore in the latest company's top management includes Kripalu, Juneja, Sharma, Daniel, Mitra, Barua, Vishnubhai Haribhakti, Nandan Reddy Obul, Majety, Clark Rabalais. The company has B S R & Co. LLP as its auditors. As on 31-03-2025, the company has a total of 229 crore shares Financial continues to value Swiggy?s food delivery business at 45x EV/ FY27E Adj. EBITDA multiple. They value Instamart at 0.5x EV/ FY27E GOV multiple versus 1.0x earlier due to substantial margin profile deterioration amidst high competitive pressures. For other businesses, JM Financial now uses 1x EV/GOV FY27E multiple (from 0.9x earlier) for out-of-home consumption as it has turned profitable while continuing to use 0.5x EV/Sales multiple for supply chain and distribution. Accordingly, the revised SOTP based Mar?26 target price works out to Rs 450 vs. Rs 500 earlier. While they see near-term pressures on the stock price, longterm investors can use these liquidity events to build a sizeable position in Swiggy as, at CMP, the market seems to accord value to only its food delivery business, whereas Instamart and other businesses are not getting any meaningful value. The brokerage maintains BUY.
Economic Times
25-04-2025
- Business
- Economic Times
Buy Swiggy, target price Rs 500: JM Financial
JM Financial maintains a buy call on Swiggy with a target price of Rs 500 (unchanged) . The current market price of Swiggy is Rs 340.85. Swiggy, incorporated in 2013, is a Small Cap company with a market cap of Rs 77877.54 crore, operating in Services sector. ADVERTISEMENT Swiggy's key Products/Revenue Segments include Platform Services, Other Operating Revenue and Sale of Food for the year ending 31-Mar-2024. Financials For the quarter ended 31-12-2024, the company has reported a Consolidated Total Income of Rs 4095.84 crore, up 11.11% from last quarter Total Income of Rs 3686.26 crore and up 30.82% from last year same quarter Total Income of Rs 3130.93 crore. The company has reported net profit after tax of Rs -798.95 crore in the latest quarter. The company's top management includes Kripalu, Juneja, Sharma, Daniel, Mitra, Barua, Vishnubhai Haribhakti, Nandan Reddy Obul, Majety, Clark Rabalais. Company has B S R & Co. LLP as its auditors. As on 31-03-2025, the company has a total of 229 crore shares outstanding. ADVERTISEMENT Investment RationaleJM Financial continues to value the company?s food delivery business at 45x EV/ FY27E Adj. EBITDA multiple. In quick commerce, they value Instamart at 1x EV/ FY27E GOV multiple. For Other businesses, they use 0.9x EV/GOV FY27E multiple for out-of-home consumption and 0.5x EV/Sales multiple for supply chain and distribution. Accordingly, their SOTP-based Mar?26 target price stands at Rs 500. While the brokerage sees near-term pressures on the stock price due to volatility on account of lock-in expiry, long-term investors with a strong positive conviction on India?s hyper local delivery market opportunity can use these liquidity events to build a sizeable position. JM Financial maintains a BUY. Promoter/FII Holdings Promoters held $ per cent stake in the company as of 31-Mar-2025, while FIIs owned 4.89 per cent, DIIs 9.32 per cent. (You can now subscribe to our ETMarkets WhatsApp channel) Disclaimer: Views and recommendations given in this section are the analysts' own and do not represent those of Please consult your financial adviser before taking any position in the stock/s mentioned.
Time of India
25-04-2025
- Business
- Time of India
Buy Swiggy, target price Rs 500: JM Financial
iStock Biryani Swiggy's key Products/Revenue Segments include Platform Services, Other Operating Revenue and Sale of Food for the year ending 31-Mar-2024. Financials For the quarter ended 31-12-2024, the company has reported a Consolidated Total Income of Rs 4095.84 crore, up 11.11% from last quarter Total Income of Rs 3686.26 crore and up 30.82% from last year same quarter Total Income of Rs 3130.93 crore. The company has reported net profit after tax of Rs -798.95 crore in the latest quarter. The company's top management includes Kripalu, Juneja, Sharma, Daniel, Mitra, Barua, Vishnubhai Haribhakti, Nandan Reddy Obul, Majety, Clark Rabalais. Company has B S R & Co. LLP as its auditors. As on 31-03-2025, the company has a total of 229 crore shares outstanding. Live Events Investment Rationale JM Financial continues to value the company?s food delivery business at 45x EV/ FY27E Adj. EBITDA multiple. In quick commerce, they value Instamart at 1x EV/ FY27E GOV multiple. For Other businesses, they use 0.9x EV/GOV FY27E multiple for out-of-home consumption and 0.5x EV/Sales multiple for supply chain and distribution. Accordingly, their SOTP-based Mar?26 target price stands at Rs 500. While the brokerage sees near-term pressures on the stock price due to volatility on account of lock-in expiry, long-term investors with a strong positive conviction on India?s hyper local delivery market opportunity can use these liquidity events to build a sizeable position. JM Financial maintains a BUY. Promoter/FII Holdings Promoters held $ per cent stake in the company as of 31-Mar-2025, while FIIs owned 4.89 per cent, DIIs 9.32 per cent. (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel JM Financial maintains a buy call on Swiggy with a target price of Rs 500 (unchanged) . The current market price of Swiggy is Rs 340.85. Swiggy, incorporated in 2013, is a Small Cap company with a market cap of Rs 77877.54 crore, operating in Services key Products/Revenue Segments include Platform Services, Other Operating Revenue and Sale of Food for the year ending the quarter ended 31-12-2024, the company has reported a Consolidated Total Income of Rs 4095.84 crore, up 11.11% from last quarter Total Income of Rs 3686.26 crore and up 30.82% from last year same quarter Total Income of Rs 3130.93 crore. The company has reported net profit after tax of Rs -798.95 crore in the latest company's top management includes Kripalu, Juneja, Sharma, Daniel, Mitra, Barua, Vishnubhai Haribhakti, Nandan Reddy Obul, Majety, Clark Rabalais. Company has B S R & Co. LLP as its auditors. As on 31-03-2025, the company has a total of 229 crore shares Financial continues to value the company?s food delivery business at 45x EV/ FY27E Adj. EBITDA multiple. In quick commerce, they value Instamart at 1x EV/ FY27E GOV multiple. For Other businesses, they use 0.9x EV/GOV FY27E multiple for out-of-home consumption and 0.5x EV/Sales multiple for supply chain and distribution. Accordingly, their SOTP-based Mar?26 target price stands at Rs 500. While the brokerage sees near-term pressures on the stock price due to volatility on account of lock-in expiry, long-term investors with a strong positive conviction on India?s hyper local delivery market opportunity can use these liquidity events to build a sizeable position. JM Financial maintains a held $ per cent stake in the company as of 31-Mar-2025, while FIIs owned 4.89 per cent, DIIs 9.32 per cent. (Disclaimer: Recommendations given in this section or any reports attached herein are authored by an external party. Views expressed are that of the respective authors/entities. These do not represent the views of Economic Times (ET). ET does not guarantee, vouch for, endorse any of its contents and hereby disclaims all warranties, express or implied, relating to the same. Please consult your financial adviser and seek independent advice.
