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A Lion’s eye on the Bulls and Bears

“In India, companies may fall sick, but promoters rarely do!”

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May 29, 2013

Shasun Pharma @ Rs 75 ~ had warned exactly a year ago at Rs 115 that it will sink below Rs 100

Tomorrow is Shasun’s Concall at 12 noon for FY 13 Results and outlook ~ those interested can log in on +91-22-3325 4200 or 1800 102 1300

Their PR Team had called one of my Analysts to request we attend the Concall ~ we just might though Shasun Pharma is not one of our recommendations and we are not really enamoured by it

In fact exactly a year ago on blog reader Rohit’s request I had blogged on it advising exit  Rs 115 as I was not impressed with the Accounting Treatments and Disclosures and had stated that Operating EPS  is actually half  at Rs 10 if we remove exceptional items  ~ had warned that it will sink below Rs 100 ~ however before it did it rose to Rs 185 in September 2012  before collapsing to a low of Rs 60 in March 2013 and has recovered to Rs 75 levels ~ do recollect it placed shares at Rs 76 a year or two ago ~ this is the blog link of a year ago

Rohit has inquired ~ Shasun Pharma @ Rs 115 ~ Now in Reverse Gear from a Meteoric Rise inside Months ~ Prudent to Exit and Book Profits in this Fun Run

Thursday, May 31st, 2012

Had received responses from Vikas ,Rohit and Rao Bellam on the above blogpost with even Rao analysing it too

FY 13  Performance shows EPS levels halving at Rs 9.61 with Profits dropping to Rs 53 crs from Rs 100 crs in FY 12 as Other Income dropped as FY 12 had seen Rs 27 crs Income from land and building sales at Velachery and Tax Credits of Rs 20 crs + in FY 12   were not available in FY 13

Though Borrowings have shot up  ~Long Term ( from Rs 78 crs  to Rs 118 crs) and Short term Borrowings ( From Rs 229 crs top Rs 318 crs)  the Finance Charges show a decline from Rs 43.7 crs to Rs 33.2 crs~ need to ask  the Company why ?  probably capitalising interest

At March 31,2013 the Consolidated Networth is Rs 270 crs with Equity of FV Rs 2 at Rs 11.33 crs => Book Value is Rs 48

The Share Price of Rs 75 gives a Book Multiple of 1.56 and an Earnings Multiple of 7.8

Shasun MD Abhaya Kumar had boasted in mid 2012 that the Company will acheive a Turnover of Rs 2000 crs by 2015 and a Billion Dollars by 2020 and there were great expectations from the  UK Subsidiary

Well FY 13 has seen Sales just about being maintained at just over Rs 1000 crs ~ Dividend has been dropped to 75% or Rs 1.50 per share from 120 % or Rs 2.40 per share for FY 12

Inclined to have my Analyst to attend the Concall ~ just to hear what’s the latest Boast !


Deepak Chopra Commencement Address to the 2013 Graduating Class at Hartwick College in USA

Deepak Chopra’s Commencement Address 2013 to Hartwick College Graduates

Deepak Chopra’s commencement address to the 2013 Graduating Class of Hartwick College ,USA

“President Margaret Drugovich, Trustees of Hartwick College, Guests, Parents and Students of the 2013 Graduating Class at Hartwick College

Today, as you celebrate this major milestone in your life and commence a new stage of your life journey, I ask you to reflect on the gift of life itself. And life, in essence, is nothing but awareness. Furthermore, human life, considered the pinnacle of biological evolution, is not just awareness, but self-awareness. Amongst creatures on this planet, we human beings are not only aware; we have the capacity to be aware that we are aware, to be conscious of our consciousness. In that self-awareness lies our potential and power to direct our own future evolution and the future evolution of civilization.

Biological evolution has been summed up in the phrase of “survival of the fittest,” but with overpopulation and overconsumption of resources, the future belongs to “survival of the wisest.” It is imperative for the future of humanity that wisdom becomes the new criterion for sustainable life on this planet. And wisdom is that knowledge that nurtures life in all its dimensions – not only for us, but also for the generations that follow us.

Today’s age is frequently referred to as the Information Age. The hallmarks of this age are the gifts of science and technology that have created the miracles of molecular medicine, real-time imaging of cellular function, instant accessibility of global knowledge, and social networks. Yet despite this emerging global brain, paradoxically we are beset with the same scourges of war and terrorism, radical poverty in 50% of the world’s population, irreversible climate change, along with deepening social and economic injustice! Furthermore, humanity suffers from massive malnutrition in which half the world suffers from hunger and the other half from obesity, leading to inflammatory disorders, increasing the risk of chronic illnesses including many types of cancer and cardiovascular diseases while the hungry die from compromised immune function and infectious diseases. The information revolution has not led to the wisdom needed to solve our world crisis in health and well-being.


If ever humanity had the power of mass self-extinction on planet earth, it is today. And if it happens, it will be because we allowed our emotional and spiritual evolution to be outpaced by the evolution of our science and technology. Nuclear proliferation, biological warfare, eco-destruction, the extinction of species and the poisoning of our atmosphere, our rivers and waters and the very food that sustains our life and all life loom before us as imminent threats. But just as in other critical phases of transformation, while there is disaster looming on one hand, there is on the other hand the potential to create a radical reorganization into something much greater than was conceived of before. read more

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