Latest news with #SandeepJain
Fashion Value Chain
08-08-2025
- Business
- Fashion Value Chain
Akums Reports Q1 FY26 with 19% YoY Adj EBITDA Growth; Achieves 1,000 DCGI Approvals
Akums Drugs and Pharmaceuticals Ltd., India's largest contract development and manufacturing organization (CDMO), has announced its consolidated financial results for the quarter ended June 30, 2025. This quarter continued to display strong performance with healthy growth in Adj EBITDA and Adj PAT. In Q1 FY26, Akums reported total income of Rs. 1,051 crore, with healthy Adj EBITDA of Rs. 156 crore reflecting a robust 19.1% year-on-year (YoY) growth. The margins improved to 14.8% from 12.7% last year a 208 bps improvement. During this quarter, the company achieved a key milestone of reaching 1,000 Drug Controller General of India (DCGI) approvals, with 27 fresh approvals in this quarter. The DCGI approvals assist the company in enhancing its product mix, building a differentiated and research-driven portfolio. Additionally, the company also received a patent for its extended-release combination formulation of Doxylamine and Pyridoxine developed using the company's tablet in tablet technology. As part of Akums' strategic vision to establish itself as a leading global CDMO, the company received its first EU dossier approval for Rivaroxaban. It also filed its first dossier of Dapagliflozin combination in Switzerland. Both of these new products hold significant market potential. The commercialization of the EU contract also continues to be on track and the company will commence commercial supplies from April 2027. Akums received 100 mn Euros as part consideration for the EU contract in Q1 this year, consequently the company is at a cash surplus of Rs. 1,518 cr. The strong liquidity position provides a robust foundation for Akums to strategically scale up its business operations through both organic growth initiatives and inorganic opportunities. Segmental Performance Overview Akums' flagship business, CDMO, contributed ~79% to the group turnover with an EBITDA of 14.7% in Q1 FY 26. The company's domestic branded formulation business segment reported ~3% YoY growth while international branded formulation business grew by ~2% YoY. Trade generics and API segment continue to be in operational loss this quarter, though, through the management efforts, the losses are gradually reducing. Commenting on the results, Mr. Sanjeev Jain, Managing Director, said, 'This date marks just over one year since we got listed. We continue to work towards strengthening the organization with a focus on long term growth. Our commitment to becoming a global CDMO player remains steadfast. The recent filings along with the planned global approvals of other facilities are setting up us in that endeavor.' Mr. Sandeep Jain, Managing Director, added, 'We continue to deliver strong performance despite the industry headwinds of decreasing API prices and muted volume growth. With a sustained focus on R&D, we have been able to deliver robust growth. Achieving 1,000 DCGI approvals is a key milestone that stands out Akums from its peers, allowing Akums to offer margin accretive differentiated offerings. We remain focused on strengthening our CDMO leadership, scaling high-value capabilities, and driving operational excellence. Backed by a strong pipeline and prudent capital allocation, we are well-positioned to deliver sustainable and profitable growth in the years ahead.' Extract of Consolidated financial results Particulars (Rs Cr) Q1 FY 26 Q4 FY 25 Q1 FY 25 Revenue 1,024 1,056 1,019 Other income 27 18 7 Total income 1,051 1,073 1,026 Cost of goods sold 582 639 596 Employee Cost 176 184 176 Other Expenses 137 139 123 Adj EBITDA 156 111 131 Adj EBITDA Margin 14.8% 10.4% 12.7% Adj PAT 65 44 57 Adj PAT Margin 6.2% 4.1% 5.6% Definitions Adjusted EBITDA has been calculated as the sum of profit/ (loss) for the quarter, tax expenses, finance costs, depreciation and amortization expense, fair value changes to financial instruments, and exceptional items. Adjusted PAT is calculated as the profit for the quarter plus fair value changes to financial instruments less tax deferred tax created on brought forward losses. CDMO: Contract Development and Manufacturing Operations API: Active Pharmaceutical Ingredients
Time of India
26-06-2025
- Business
- Time of India
Centre asks court to reject challenge to copper import curbs
The Centre has defended its quality control measures on copper cathode imports, refuting claims of monopolistic practices. Ten foreign suppliers have already obtained certification, addressing concerns about supply shortages. The government has asserted that the regulations aim to protect consumer interests and ensure product reliability, not to restrict competition. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads The Indian government has rejected a claim by trade bodies that its move to impose quality control curbs on copper cathode imports would lead to a monopoly, as 10 foreign suppliers have obtained certification, a legal document showed on the world's second-largest importer of refined copper , is defending its quality control measures in court against accusations that it would lead to supply shortages and create a monopoly of three domestic an over 160-page reply to the petitions by the Bombay Metal Exchange (BME) and the Bombay Non-Ferrous Metals Association, the government says their concerns on supply constraints are "misconceived and unfounded"."The implementation of the QCO has not led to any monopolistic practices of price distortion," said India's Ministry of Mines , as it asked for the rejection of the trade associations' legal Bombay Metal Exchange, the Bombay Non-Ferrous Metals Association and the federal Ministry of Mines did not immediately respond to Reuters' emails seeking reply seen by Reuters adds that the quality control order was a regulatory measure aimed to safeguard consumer interests and applies equally to all entities whether they are domestic or foreign."Foreign suppliers are not being barred... The regulation aims to enhance product reliability and safety, not restrict competition," it is one of 30 critical minerals identified by India in 2023 and demand within the country is expected to double by 2030. The domestic supply is dominated by Hindalco Industries Vedanta , Adani and the state-owned Hindustan Copper Imports in the country have surged since 2018 after the closure of Vedanta's domestic Sterlite Copper accounts for about two-thirds of India's refined copper imports, followed by Tanzania and the 10 foreign suppliers who have secured the certification under the new rules, seven are from Japan, two from Malaysia and one from Austria, the Indian government's reply Metal Exchange President Sandeep Jain told Reuters last month that the trade body was "compelled to seek judicial intervention" as the government did not defer the implementation of the quality control orders, and the measure had led to supply shortages.
Reuters
26-06-2025
- Business
- Reuters
India government asks court to reject challenge to copper import curbs
NEW DELHI, June 26 (Reuters) - The Indian government has rejected a claim by trade bodies that its move to impose quality control curbs on copper cathode imports would lead to a monopoly, as 10 foreign suppliers have obtained certification, a legal document showed on Thursday. India, the world's second-largest importer of refined copper, is defending its quality control measures in court against accusations that it would lead to supply shortages and create a monopoly of three domestic suppliers. In an over 160-page reply to the petitions by the Bombay Metal Exchange (BME) and the Bombay Non-Ferrous Metals Association, the government says their concerns on supply constraints are "misconceived and unfounded". "The implementation of the QCO has not led to any monopolistic practices of price distortion," said India's Ministry of Mines, as it asked for the rejection of the trade associations' legal challenge. The Bombay Metal Exchange, the Bombay Non-Ferrous Metals Association and the federal Ministry of Mines did not immediately respond to Reuters' emails seeking comments. The reply seen by Reuters adds that the quality control order was a regulatory measure aimed to safeguard consumer interests and applies equally to all entities whether they are domestic or foreign. "Foreign suppliers are not being barred... The regulation aims to enhance product reliability and safety, not restrict competition," it added. Copper is one of 30 critical minerals identified by India in 2023 and demand within the country is expected to double by 2030. The domestic supply is dominated by Hindalco Industries ( opens new tab, Vedanta, Adani and the state-owned Hindustan Copper ( opens new tab. Imports in the country have surged since 2018 after the closure of Vedanta's domestic Sterlite Copper smelter. Japan accounts for about two-thirds of India's refined copper imports, followed by Tanzania and Mozambique. Among the 10 foreign suppliers who have secured the certification under the new rules, seven are from Japan, two from Malaysia and one from Austria, the Indian government's reply said. Bombay Metal Exchange President Sandeep Jain told Reuters last month that the trade body was "compelled to seek judicial intervention" as the government did not defer the implementation of the quality control orders, and the measure had led to supply shortages.
New Indian Express
09-06-2025
- Politics
- New Indian Express
Mahakumbh stampede: Allahabad HC slams UP government over delayed compensation; seeks full report
LUCKNOW: The Allahabad High Court has strongly criticised the Uttar Pradesh government for not extending compensation to the families of those who died in the Mahakumbh stampede on January 29, 2025. While hearing a petition on Saturday, the vacation bench of Justice Saumitra Dayal Singh and Justice Sandeep Jain said the government's attitude was 'unstable' and 'indifferent to the suffering of citizens.' The judges were responding to a petition filed by Uday Pratap Singh. The court asked the state government to submit full details of the deaths, injured patients, and medical staff involved in the treatment of stampede victims. It also ordered the government to explain what steps were taken to compensate the victim families. The court reminded the state government that it worked as a trustee of the people and must show sensitivity in such cases. It said the government should be more responsible and transparent in helping the victims and their families. It may be recalled that the stampede had taken place just around midnight on January 29, ahead of the Amrit Snan of Mauni Amavasya. The state government admitted that 30 people died and had announced a compensation of Rs 25 lakh each to the dependents of the deceased. However, the compensation has still not been given to the affected families.
Scroll.in
07-06-2025
- Politics
- Scroll.in
‘Shows apathy': Allahabad HC raps UP government for delay in disbursing Kumbh stampede compensation
The Allahabad High Court on Friday said that the delay in disbursing compensation to the families of those who died during a stampede at the Maha Kumbh Mela pilgrimage site in Prayagraj showed the Uttar Pradesh government's 'apathy to the plight of the citizens', Live Law reported. A bench of Justices Saumitra Dayal Singh and Sandeep Jain also directed the state government to furnish details of the deaths and medical handling of those who died or were injured between January 28 and the end of the pilgrimage. The Bharatiya Janata Party government in the state was also told to submit details of the number of compensation claims it had received and settled, and those that are pending. The stampede had broken out at the Maha Kumbh on January 29 as a large number of pilgrims arrived to take a holy bath on the occasion of Mauni Amavasya, a spiritually significant day in the Hindu calendar. The state government has said that at least 30 persons were killed and 60 others were injured, although several media reports have suggested that the actual toll could be significantly higher. Uttar Pradesh Chief Minister Adityanath had announced financial assistance of Rs 25 lakh for those who died in the stampede. The court was hearing a plea filed by the husband of one of the persons who died. It expressed concern that the woman's body had been handed over to her family without a postmortem being conducted. The judges took note of the serious injuries reported on the woman, including a crushed rib cage, and questioned the lack of official documentation or communication with the family regarding the cause and circumstances of the death, Live Law reported. The bench directed that medical institutions and authorities in Prayagraj be made parties to the petitions and directed them to file affidavits disclosing details of all patients and dead bodies that may have been brought to the facilities and those dispatched by them between the incident and the end of the Mela. The bench was alarmed that the woman's body was handed over to the family in February but compensation was yet to be provided, according to Live Law.
