Bilcare - A different Pharma company.
Printed From: The Equity Desk
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Forum Name: Stock Synopsis
Forum Discription: A bried discussion of companies on very specific matters. Normally this is the prelude for further research as always members would be discussing quality companies with good management only
URL: http://www.theequitydesk.com/forum/forum_posts.asp?TID=388
Printed Date: 28/Apr/2024 at 9:18am
Topic: Bilcare - A different Pharma company.
Posted By: kulman
Subject: Bilcare - A different Pharma company.
Date Posted: 07/Sep/2006 at 4:50pm
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Basantjee
What do feel about Pharma Packaging leader "Bilcare"? Its MD Mohan Bhandari seems to be smart entrepreuner and Jhunjhunwala is on board. Apart from this, what do feel about fundamentals?
Thanks ------------- Life can only be understood backwards—but it must be lived forwards |
Replies:
Posted By: basant
Date Posted: 07/Sep/2006 at 5:09pm
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Bilcare is a great concept and is a complete solution provider from research, drug discovery to packaging material. I would rate it very highly. The stock looks fit for investment The return ratios are high and the company's visibilty is very strong. It is a different concept altogether.At this market cap the stock could go up substantially.
------------- 'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in |
Posted By: Mr. V
Date Posted: 04/Mar/2007 at 6:56am
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Bilcare seems to have a huge amount of debt on their books. Close to 350 crores. Do you think that it will become a concern going forward ?
Any idea if they have done any equity dilution or not ? |
Posted By: basant
Date Posted: 04/Mar/2007 at 9:06am
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Their RoE is high so debt should not be a problem because the business is also of a non cyclical type. In this space there is a dark horse ESS DEE Aluminium which could also be considered. The company recently came out with an IPO and results should be good since the benefits of the expansion would trickle in Fy 08. ------------- 'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in |
Posted By: kulman
Date Posted: 28/Jun/2007 at 8:12pm
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RJ Bhaiyya's Bilcare is not tracked by many Analysts. It is already a multi-bagger....
Tracking device to fight fake drugs
Pune-based pharma packaging company Bilcare is talking to pharma regulators to introduce an electronic device that will allow pharma companies to keep track of their drugs, wherever they are at a given point of time. The new electronic device is aimed at fighting drug counterfeiting — estimated anywhere between 1% to 30% of India’s pharma market.
“We are planning to launch this new product by the end of the year. We are already talking to regulators and the industry. We have received a very good response from them,” said Bilcare chairman and managing director Mohan Bhandari. “This device will be attached mostly to high-value products.” Complete story http://economictimes.indiatimes.com/News/News_By_Industry/Healthcare__Biotech/Pharmaceuticals/Tracking_device_to_fight_fake_drugs/articleshow/2155172.cms - here on ET
------------- Life can only be understood backwards—but it must be lived forwards |
Posted By: basant
Date Posted: 28/Jun/2007 at 8:16pm
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Could this send the stock up multifold again. At first glance it seems to be a huge opportunity! ------------- 'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in |
Posted By: kulman
Date Posted: 28/Jun/2007 at 8:24pm
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RJ Bhaiyya talks highly about the management of Bilcare.
Bilcare's MD hasn't disclosed details yet about this new device, but seems to be very interesting opportunity.
Maybe someone from Pharma/Packaging industry could throw more light on this.
------------- Life can only be understood backwards—but it must be lived forwards |
Posted By: basant
Date Posted: 28/Jun/2007 at 8:29pm
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The big bull was recommending bilcare when he was in town in May. Someone who met him told me about it. ------------- 'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in |
Posted By: nikhil090
Date Posted: 28/Jun/2007 at 12:00pm
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It is a good company with good management. They are working from the basics, as I understand and want to make it big in other areas besides packaging, where they are already the leader. The new focus of the company is in Clinical trials and associated services which is a big business opportunity, if tapped well. |
Posted By: nikhil090
Date Posted: 01/Jul/2007 at 7:06pm
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Bilcare March qtr results have been declared - They had sales of 88 cr with PAT of 21.4 cr (helped with OI of 14 cr). The figures for Q4 2006 were 70 cr and PAT of 13.7 cr (OI of 2.6 cr). They have maintained their margins and have managed to grow the business by 25%. The kicker should come from new businesses, about which I dont have too much visibility.
This is one stock which is fancied because it has delivered and because RJ is there. If they improve their visibility the stock will get still better valuations.
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Posted By: kulman
Date Posted: 08/Jul/2007 at 10:23am
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Here's a recommendation in BS: http://www.business-standard.com/general/storypage.php?&autono=290417 - Trial & Success!
------------- Life can only be understood backwards—but it must be lived forwards |
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Posted By: nikhil090
Date Posted: 09/Jul/2007 at 8:38pm
| Thanks Kulman Jee. BTW Bilcare is continuing its upward march.. today also up 5% |
Posted By: mragarwal
Date Posted: 09/Jul/2007 at 10:55pm
Heres the full article from BS.. 120% return in 5 months..!!!
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Posted By: nikhil090
Date Posted: 09/Jul/2007 at 11:45pm
An article from India earnings.com - 29th June 2007
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Posted By: nikhil090
Date Posted: 09/Jul/2007 at 11:52pm
another one from indiaearnings.com - June 28th
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Posted By: nikhil090
Date Posted: 09/Jul/2007 at 11:53pm
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some more information
http://www.dhpclin.com/company/bilcare_press.html - http://www.dhpclin.com/company/bilcare_press.html
Bilcare acquires Clinical Trial Services Company in UK
MUMBAI, SEPTEMBER 19, 2006 – Bilcare Ltd, India’s leading pharma major in the drug discovery to market value chain, has acquired DHP Limited, a UK-based Clinical Trials Services provider. The 100% paid-up equity of DHP has been acquired through Bilcare (UK) Limited, a fully-owned subsidiary of Bilcare. DHP had service revenue of US$ 3 million for the year ended March 31, 2006. Commenting on this important acquisition in UK, Mr. Mohan Bhandari, the Chairman and Managing Director of Bilcare Limited said, “Bilcare has been successful in living up to its commitment of providing a truly world-wide operations network to the global pharmaceutical sector and partner with them in enhancing their speed to market by best in class local management of their global clinical trials.” With this acquisition, Bilcare completes a full circle in establishing global clinical trial services. With the intent of evolving itself into a “life-Sciences Knowledge Partner Matrix” – (KPM); Bilcare channelised its research and innovations competencies in meeting its first phase objective of establishing a truly global capability in one of the most critical activities in the pharma value chain – Clinical Trials Services (CTS). DHP Limited are UK / EU specialists to the global pharmaceutical sector since 1988 in the manufacture, importation, storage and distribution of phase I-IV Investigational Medicinal Products and named patient / compassionate use medicinal products. This includes a full range of QP and other services to support the Investigational Medicinal Product lifecycle from design through reconciliation and destruction, based in Powys, UK. DHP's objective with each client is to provide a GMP/GCP compliant service, which combines an uncompromising approach to QA with recognition that the sponsor’s needs are for a flexible, prompt and reliable servicing of requirements, within tight time limits. The clientele of DHP Limited included multinational pharmaceutical companies, biotech companies, leading Contract Research Organisations, publicly (MRC) funded clinical research teams, NHS trusts and hospitals as well as individual professionals in the public and academic sectors. DHP Limited works in strict accordance with the EU Clinical Trials Directive and other relevant regulation. DHP Limited was last inspected by the MHRA with respect to its MA-IMP license in January 2006. Bilcare’s focused ambition to be the leader in Clinical Trial Services was initiated with the establishment of a state-of-the-art CTS facility in India in early 2005. The aim was to cater to global pharmaceutical customers, specifically the European based companies. It almost simultaneously expanded its global reach through the acquisition of an established clinical trials business in the USA in the Quarter III of 2005. The USA acquisition was welcomed by the pharma industry leading to Bilcare’s getting recognition as their value partner. Bilcare delighted the expectations of the pharma industry by announcing its serious intent of establishing similar capabilities in Singapore and the European Union to make Bilcare one of the few players with global servicing capability. While Bilcare initiated its Singapore CTS operations by integrating it into its materials and research facilities in Singapore, which also has been conferred with the prestigious “Pioneer Status” by the Government of Singapore, the recent UK acquisition has become the most strategic component of Bilcare’s conclusive step towards converting Bilcare’s Clinical Trail Services into a truly global activity. |
Posted By: nikhil090
Date Posted: 09/Jul/2007 at 11:55pm
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http://www.hindu.com/2006/11/17/stories/2006111701491805.htm - http://www.hindu.com/2006/11/17/stories/2006111701491805.htm - 17th Nov 2006
Bilcare wins patent in U.S.
CHENNAI: Bilcare, a leading pharma major in the drug discovery to market value chain, has won a patent in the U.S. for its pharmaceutical grade metalised thermo-formable (a plastic in which cavities can be made) composite films. This innovative packaging material will address multiple concerns and limitations of the pharmaceutical products in the market such as anti-counterfeit and anti-pass off. The unique products under this range are Patina, Ultra and Ultra TX, according to a release. |
Posted By: nikhil090
Date Posted: 09/Jul/2007 at 11:58pm
Some more information - slightly old but maybe useful
(openPR) - Frankfurt/Main, November 22, 2006. Bilcare Ltd. specializing in pharmaceutical packaging and clinical trial services announced to invest Euro 10 million and begin its manufacturing operations in Europe in mid 2007. The final decision for the location will happen shortly. In 2005 Bilcare Ltd. started with its first European Sales and marketing office in Frankfurt/Main. This announcement comes in just over a month after Bilcare acquired DHP Limited, a UK based clinical trial services provider in September 2006.The company residing in Pune (India) is expanding her worldwide net of operations in Singapore, Brazil, USA, UK and now also in mainland Europe.
Bilcare has a wide range of films and innovations such as protection against counterfeiting, child safety, senior friendliness and tailor made designs. They have a proven and well accepted technologies aimed at the reduction of the technological complexity which will result in cost advantages for drug packaging. Dr. Volker Huelck, Board member of Bilcare Ltd. comments on the activities in Europe: "With the recent acquisition of DHP Ltd. in the UK, we have enlarged our portfolio considerably. European customers will benefit from this directly. Besides the extensive know how for the development of innovative drug packaging systems, we are offering now additional capacities in formulation research and all corresponding analytics. With this integrated portfolio of services for supporting pharmaceutical research enterprises when optimising her "time to-market" Bilcare is ideally positioned for the future.” The facility planned, equipped with state-of-the-art R&D Centre along with downstream film & foil manufacturing and printing facility is expected to commence commercial operations in mid 2007. |
Posted By: nikhil090
Date Posted: 09/Jul/2007 at 11:59pm
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Another news
http://www.hindu.com/2007/01/27/stories/2007012701601609.htm - http://www.hindu.com/2007/01/27/stories/2007012701601609.htm - 27th jan , 2007
Bilcare partners Honeywell
CHENNAI: Bilcare, a research-based pharmaceutical packaging solutions company, has announced regional developmental collaboration with Honeywell's specialty films business to provide high-barrier packaging solutions for the pharmaceutical sector. According to a release, the collaboration will help address challenges faced by the pharma-packaging industry. Bilcare will offer Honeywell's `Aclar' products to meet the needs of several drug producers. |
Posted By: nikhil090
Date Posted: 09/Jul/2007 at 12:23pm
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First Global initiates coverage on Bilcare Ltd. with a rating of Outperform - 26TH June 2007
It seems lot of focus is coming on Bilcare now.. market is probably discovering this stock now, couple of years after RJ did..
SHows that RJ has unparalleled vision - not matched by anyone..
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Posted By: kulman
Date Posted: 02/Oct/2007 at 9:46am
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In 1983, young Mohan Bhandari did what he thought was a worthy calling. http://www.dnaindia.com/report.asp?NewsID=1125030 - He quit his job with Kirloskar Consultancy and started his paper packaging business with his mother’s life savings of Rs 60,000 . Back then, Bhandari Industries employed five people.
In fact, that was only a beginning. For, Bhandari was chasing a bigger dream: setting up a drug packaging company, which he started 12 years later. Bhandari, chairman and managing director, Bilcare, the drug packaging firm, said: “I always wanted to pursue packaging in the pharmaceutical sector where everything else thrives on innovation. Packaging remained relatively unchanged.” Bilcare made and entry, with Rs 5 crore as capital, and changed the entire dynamics of drug packaging. The first big splash was its packaging solution for a new drug called Optima. Globally, pharmaceutical companies research for some 18 months before finalising on the packaging of a new drug. Bilcare did it in one month. Bhandari said: “For the first two years, research remained the top priority. We had six patents related to packaging during this period. Innovation was the only way to make a mark in this commoditised business.” Bilcare then kept adding proprietary products to its bouquet of offerings. The company has filed 51 patents so far. Bilcare’s next big bet is solutions to tackle medicine counterfeiting. Praful Naik, chief scientific officer at Bilcare, said: “The future patent pipeline comprises solutions for drug counterfeiting.” Inching towards this goal has already begun. Bilcare has already provided solutions to drug makers to cut down on counterfeit products in the area of design. For instance, Bilcare developed a new pack for Elder pharmaceuticals’ top-selling brand Shelcal to keep counterfeiters at bay. Naik said: “Shelcal’s sales doubled. The management was so delighted that we are now re-designing the packaging for the entire Elder products.” In the past one year, Bilcare has gone on a different growth trajectory. After acquiring US-based ProClinical, the company has scaled up its presence in the high-margin business of clinical research packaging. Ranjit Kapadia, head of research at Prabhudas Lilladher, said: “Packaging business has margins between 25% and 30%. On the other hand, clinical research packaging business now gives the company margins between 40% and 45%.” Bilcare is looking at acquisitions to expand the clinical research packaging business. Naik said: “We are keen to acquire a company that brings in better technology at the right price.” Bilcare did drop an acquisition last financial year on valuation issue. Investors have cheered the efforts and Bilcare’s decisions. Share price of Bilcare has risen 277% in one year and is now trading at Rs 1,230. Investor Rakesh Jhunjhunwala and his wife hold 11.62% in Bilcare. He is also on the company’s board of directors. “My dream is to see Bilcare as the world leader in pharmaceutical packaging and it is achievable within next six years,” he Bhandari, too, feels that achieving Jhunjhunwala’s wish in the niche he carved out for Bilcare (pharmaceutical packaging) is possible. Bhandari said: “Innovation and focus have got us to where we stand. To achieve our dreams we need to maintain it.” -----------------------------
Jai ho Rakesh Bhaiyya ki!!
------------- Life can only be understood backwards—but it must be lived forwards |
Posted By: tigershark
Date Posted: 03/Oct/2007 at 2:38pm
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such posts help investors to hold on to such cos inspite of all the gambling casino style that is happening in certain stocks these days.use any fall in stock price to add.keep it up kulman no comment from yu on photos maybe yu can send a pvt mail on how i can improve ------------- understanding both the power of compound return and the difficulty getting it is the heart and soul of understanding a lot of things |
Posted By: nikhil090
Date Posted: 04/Nov/2007 at 10:45pm
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Results of Bilcare from indiaearnings.com.. Good solid growth..
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Posted By: hkumar
Date Posted: 20/Nov/2007 at 5:46pm
The current holding has increased to a little above 13% basis Sept end 07 pattern at BSE
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Posted By: India_Bull
Date Posted: 20/Nov/2007 at 7:03pm
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The company is doing good and he is quite bullish on it as I got it from some of his interviews in this calander year. ------------- India_Bull forever Bull ! www.kapilcomedynights.com |
Posted By: tigershark
Date Posted: 17/Dec/2007 at 3:46pm
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bilcare has patented a fraud detecting tag which shall go in for com production next yr.in india itself 25% of the medecines sold are bogus. and this label when passed thru an atm amchine or similiar will detect the authenticity of the package.manufacturing will take place in singapore,head of pfizer was presnt for the launch.sourced from et 171207. ------------- understanding both the power of compound return and the difficulty getting it is the heart and soul of understanding a lot of things |
Posted By: tigershark
Date Posted: 17/Dec/2007 at 3:48pm
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first global is bullish on this company! ------------- understanding both the power of compound return and the difficulty getting it is the heart and soul of understanding a lot of things |
Posted By: kulman
Date Posted: 17/Dec/2007 at 10:03pm
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This is one of the unsung heroes. Not tracked by many. I read somewhere R.J. talking very highly about Mohan Bhandari, Bilcare's MD. ------------- Life can only be understood backwards—but it must be lived forwards |
Posted By: tigershark
Date Posted: 18/Dec/2007 at 2:29pm
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yes, stock investing is all about investing in human minds.the earlier one realises how great the mind is the greater is your margin of safety ------------- understanding both the power of compound return and the difficulty getting it is the heart and soul of understanding a lot of things |
Posted By: nikhil090
Date Posted: 23/Dec/2007 at 8:31pm
| The company has a sustainable business model. However only problem is that you do not get too much information about the company from many sources - NOt many analysts tracking it and the website itself is not so good in terms of providing information.. THey are betting big on clinical reserach, education in that space etc. If that does not work out well, then we can be in trouble. However both spaces have good potential and company is the leader in packaging space - its cash cow. So downside should also be reasonably limited. |
Posted By: deveshkayal
Date Posted: 23/Dec/2007 at 10:31pm
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Companies listed only on BSE normally are covered by very few analysts and press. But that does not put a break in its 4 fold rise since this thread was started. ------------- "You don't need to be a rocket scientist. Investing is not a game where the guy with the 160 IQ beat the guy with a 130 IQ. Rationality is essential"- Warren Buffett |
Posted By: nikhil090
Date Posted: 23/Dec/2007 at 10:34pm
| Agreed... Scrip has been significantly rerated in the last 9 months with PE moving from 15 to 35+ right now.. Now the earnings have to catch up to justify this rerating.. |
Posted By: kg
Date Posted: 28/Dec/2007 at 10:37pm
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Bilcare Ltd has announced that Bilcare Singapore Pte. Ltd., wholly
owned subsidiary of the Company has issued USD 90 million 4%
Convertible Bonds due 2012. The http://www.moneycontrol.com/india/messageboardblog/23/02/message_thread/2016526/2480901# - - bonds
may be redeemed in whole at the option of the bondholder on the
maturity date at a price of 130.726% of the principal amount, plus
accrued interest, as per the terms of the issue. The Bonds may be
converted to shares of Bilcare Singapore Pte Ltd at maturity or 90 days
after the completion of a Qualified IPO. The bonds will be listed on
Singapore Stock Exchange. The proceeds from the issue will be utilized
for the ongoing global expansion / investment plans of the Company. What is the implication ? And the conversion will be at what price ? Is it planning to list its subsidiary in Singapore ? Listing subsidiary seems to be the new fad .... ------------- Lets rock |
Posted By: kulman
Date Posted: 04/Jan/2008 at 9:28am
Link: http://www.dnaindia.com/report.asp?newsid=1143248 - here
Bilcare deserves its place here: http://www.theequitydesk.com/forum/forum_topics.asp?FID=30 - Emerging companies - Mid caps that can become large cap
------------- Life can only be understood backwards—but it must be lived forwards |
Posted By: valueman
Date Posted: 02/Jul/2008 at 4:22pm
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From Moneycontrol.com dated : 1 July 2008 Bilcare results Bilcare Ltd., service provider to the pharmaceutical companies spanning across their value chain from drug discovery to market, continues to grow globally. The Board of Directors in their meeting held on 30th June 2008 proposed a dividend of 40%, at Rs 4 per equity share. The consolidated revenue for the year ended 31st March 2008, stood at Rs 669.92 Cr, registering a growth of 57% over the previous year consolidated revenue of Rs 425.72 Cr. This resulted in a better EBIDTA of Rs 162.71 Cr. for FY08 as against Rs 116.98 Cr. of the previous year registering a growth of 39%. Net Profit for the same period grew by 36% to Rs 81.55 Cr for FY08 as against Rs 59.92 Cr. of the previous year. The year-end for all subsidiary companies has been brought to a uniform closing to 31st March. As a result of this, for the year ended 31st March 2008 the financials of the overseas subsidiaries are for a period of 15 months, while Bilcare India financials are for a 12-month period. The India standalone revenue of the company for the current year grew by 24% from Rs 341.44 Cr. in FY07 to Rs 422.12 Cr. FY08. This resulted in EBIDTA growth of 19% from Rs 108.50 Cr. in the previous year to Rs 128.68 Cr. in FY08. The EPS of the company stood at Rs 37.49 in FY08 as against Rs 41.24 in FY07 due to the conversion of outstanding warrants and convertible bonds during the year. “In last one year, we have significantly invested in creation of knowledge, innovation and technology. Going forward, these three verticals of strategic investments will enable Bilcare Ltd. to emerge as leaders in counterfeit technology, clinical service and packaging solutions.” said Mohan Bhandari, Chairman & Managing Director, Bilcare Ltd. ------------- To achieve satisfactory investment results is easier than most people realize ; to achieve superior results is harder than it looks . Benjamin Graham. |
Posted By: valueman
Date Posted: 02/Jul/2008 at 4:28pm
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The EPS for 08 was originally projected to Rs.51.7 and now it is Rs.37.49 due to conversion of warrants and convertible bonds during the year . This was one of the reason why the stock got a severe thrashing yesterday . ------------- To achieve satisfactory investment results is easier than most people realize ; to achieve superior results is harder than it looks . Benjamin Graham. |
Posted By: basant
Date Posted: 02/Jul/2008 at 5:43pm
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So even RJ missed these small nuggets or like he says he has a 5 year view on this company.
------------- 'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in |
Posted By: valueman
Date Posted: 02/Jul/2008 at 6:00pm
Like Titan RJ believes that Bilcare is risky and one needs to have a 5 year time frame to see their value unlocking . This is what he said in 2007 about Bilcare : this is for a patient investor for three-five years. If Bilcare is successful in doing what it has set out to do, it will be among the top companies of the world in the pharmaceutical package. It will have a fully diluted equity of about Rs 21 crore and this year it will earn about 50 crore. It’s not cheap at about 20 times its earnings. It has invested in facilities in Singapore, it has gone into the clinical trials business. Both will take time to mature. But if they do well, this stock will give mind-boggling returns. ------------- To achieve satisfactory investment results is easier than most people realize ; to achieve superior results is harder than it looks . Benjamin Graham. |
Posted By: basant
Date Posted: 02/Jul/2008 at 8:01pm
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Any links to theri annual report or presentation where a person can know more about the company.
------------- 'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in |
Posted By: Vivek Sukhani
Date Posted: 02/Jul/2008 at 8:34pm
| Is it a competitor to Essel Propack? |
Posted By: valueman
Date Posted: 02/Jul/2008 at 9:23pm
Basantji in fact I wanted to PM you on that .Their website has no information on their financials and I have taken an initial exposure to Bilcare and hope I get their annual report soon . But I feel some financial firms have brought out reports on Bilcare a year or so back esp.HDFC Sec I think so . ------------- To achieve satisfactory investment results is easier than most people realize ; to achieve superior results is harder than it looks . Benjamin Graham. |
Posted By: basant
Date Posted: 02/Jul/2008 at 9:43pm
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Do you have anything on the company that explains its business and lays its fundamentals. ------------- 'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in |
Posted By: valueman
Date Posted: 02/Jul/2008 at 10:23pm
Basantji not much is available in the public domain but I have this one interview with their MD Mr.Mohan Bandari that gives a bird's eye view of the Bilcare ,its vision & mission .I was basically interested in this company after reading this interview and also due to the fact our former President Dr.Abdul Kalam visited their Centre in Pune and congratulated on their work .Their are KBC ( Knowledge Based Company ) and their success lies in unlocking that potential .Whether they will be successful in that only time will tell .I will post other material that I find here .I will also lookout if they have other competitors . Bilcare success story December 30, 2004 Economic Times Bilcare makes speciality pharmaceutical packaging systems for unit dosage packaging in Asia. Its USP lies in its ability to use research to add value to the global pharma sector through packaging that is tailor-made for every formulation, environment and patient effectiveness. As a result of these initiatives, the company has shown maximum rise in the ET500 ranking this year. In fact, Bilcare has seen a consistent rise in its topline. In FY04, its sale grew by 23% to Rs. 105 crore over FY03. Operating profits grew from Rs. 18 crore to Rs. 22 crore for the same period. Margins are also strong and have stayed in the range of 21-25% over the past five years. In continuation with its research initiatives, a state-of-the-art R & D centre and manufacturing operations in Singapore will be on stream in the first quarter of ' 05. The company has been successful in launching several novel alternatives for blister packaging. Bilcare's client list comprises both leading domestic companies and MNCs. Mohan Bhandari, CEO, Bilcare, talks about the company's strengths and strategies. What is your core business and major strength? We are a research-based organisation focused at complete integration of a pharmaceutical formulation to its packaging system by way of quantifying the sensitivity of solid dosage forms of medicine to the environment (viz. humidity, heat, light and gasses) and devising that optimal packaging medium to suit the sensitivity and patient usage requirement. Our offerings are a comprehensive range of innovative packaging materials manufactured by us with a focus on films and foils for unit dosage packaging and a unique research module for potential outsourcing leading to the perfect choice of packaging materials for any specific medicinal formulation, which in turn supports the global players in consolidating the several packaging choices. Team Bilcare comprises of post-graduates and doctors in the field of pharmacy and packaging science working hand-in-hand to find innovative packaging solutions to the challenging requirement of the global pharmaceutical companies, which is fast consolidating. You see, this consolidation is leading to fewer pharmaceutical-manufacturing outfits worldwide, which in turn requires standardized packaging of medicines for global distribution and consumption across all climatic zones. This has resulted in global pharmaceutical companies becoming very keen to partner with Bilcare. What strategy was adopted by the company to stay ahead of competitors? From the very beginning we are totally focused on pharma packaging research. That's what we do, that's what we deeply understand, and that's where we put in all our human, capital and technology resources. We have inculcated the culture and best practices of the pharma sector into our thoughts, philosophy and actions. We pioneered the concept of creating the "5th P" of marketing strategy through packaging in the pharmaceutical sector as one of the critical tools for enhancing and sustaining the brand equity. From the very beginning, we were also clear about another thing: We will be the best pharma packaging company in the world. The way we planned to get there was based on two foundations: The first, a very strong R&D focused at addressing the critical concerns of the pharma sector like counterfeits, speed to market, cost effectivity and the second being world class cGMP manufacturing facilities. Our focus has paid off. We have acquired a dominant market share in the domestic market, where our customers include world-renowned MNCs. And now we are working on a clear roadmap to achieve global leadership. One key reason we are confident of reaching our goal is our excellent rapport with the industry. You see, we are not just a products company. Our commitment to pharma packaging is so strong that we go beyond research, design and manufacturing-we also help our customers make the best choice of materials, processes and machinery. We have a patented process to evaluate the stability and sensitivity of any formulation for long shelf life. Industry appreciates and rewards our value added partnership approach. What innovative initiatives were taken especially in areas such as cost control, product innovations etc? Our greatest asset is our people. I believe our success story is an example of Indian intellectual and research capabilities reaching world-class heights. We have over half a dozen patents and we are continuously working on new ideas-for instance, we have a range of anti-counterfeiting solutions. The way we work is to gather the best people-young as well as highly experienced-and give them the environment and the freedom to unleash their talent. You can call it `empowerment', but it's simply a philosophy that says, "Let people bloom". While we are a manufacturing company, our emphasis is actually on building and strengthening our knowledge base. Recently we've started the Bilcare Academy to give a further impetus to our effort to acquire and disseminate knowledge. Another major priority that's in tune with our global outlook is continuous scaling up of our technology and manufacturing scale. Investments in cutting-edge technology have fuelled our growth so far, and created a sound platform for rapid future growth. What are the challenges you foresee in the future? The pharma industry is witnessing an era of rapid consolidation. The future clearly belongs only to global producers and global suppliers. Thus, the challenge for us is two-fold. Externally, we will expand our market position and achieve globalization of operations. Internally, we will create a multidimensional, multicultural, and world-class service organization, which remains in a continuous innovation mode. How are you planning to prepare for the challenges? People is the strength and valuable asset as well as the competitive advantage of Bilcare. We invest resources and time in this important asset. Further, to expand reach, we are scaling up our operations and also exploring acquisitions in Europe and US. We are in the midst of setting up an operation in Singapore and in the pipeline are manufacturing facilities in Brazil, Germany and USA for start up next year. What goal have you set for yourself in the future? Global leadership in pharma packaging through focus on research by 2010. ------------- To achieve satisfactory investment results is easier than most people realize ; to achieve superior results is harder than it looks . Benjamin Graham. |
Posted By: nikhil090
Date Posted: 02/Jul/2008 at 11:33pm
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Bilcare buys Singapore's Singular ID for S$20m
2008-01-04 12:40:21 Source : http://www.moneycontrol.com/mccode/news/searchprogram.php?progdate=2008-01-04&prog=Your%20Stocks - Your Stocks /CNBC-TV18
Bilcare has been looking at advancing http://202.87.40.50/india/news/business/bilcare-buys-singapore-s-singular-id-for-s-20m/13/00/319762# - - its - technology , in terms of solutions for counterfeit drugs. Now, it has gone ahead and acquired a Singapore-based company called Singular ID. They had been looking at this particular company for sometime. Singular ID is a very high technology company, which uses nanotechnology, in terms of developing solutions to minimize the use of counterfeit drugs, which is seen as a big menace for most of the pharmaceutical companies. In India itself, counterfeit drugs account for a about a billion of turnover. So, that technology, when applied, would probably mean a lot of difference to Bilcare as well as for Indian pharmaceutical companies. This technology is an end-to-end use technology. So, probably this particular acquisition will mean a lot for Bilcare, in terms of advance in http://202.87.40.50/india/news/business/bilcare-buys-singapore-s-singular-id-for-s-20m/13/00/319762# - - technology and reaching out to the http://202.87.40.50/india/news/business/bilcare-buys-singapore-s-singular-id-for-s-20m/13/00/319762# - - global - market also.
Speaking to CNBC-TV18, http://www.moneycontrol.com/mccode/news/searchresult.php?search_str=Mohan%20Bhandari&datesel=2 - Mohan Bhandari , CMD, Bilcare said that this acquisition is very critical for the company and it is a great synergy. They have funded the acquisition through their own resources. They have acquired four patents and the entire company. Excerpts from CNBC-TV18’s exclusive interview with Mohan Bhandari: Q: What sort of synergies does this acquisition bring on to the table? How are you funding this USD 20 million acquisition? A: Basically, Bilcare is into pharma solutions. So, this acquisition, which is a technology developed by this company, is very critical for Bilcare. This is a great synergy, in offering our entire global market place, in chemical supplies as well as packaging solutions. Q: How did you undertake the funding of this acquisition? A: This acquisition is hardly USD 20 million Singapore dollars and we have funded it through our own resources. Q: Could you share the financials of Singular ID and what have they done in terms of sales and profits? A: Basically, this is a technology start up company and they are more into technology development. So, there is no big financials around them. But the patent is very vital. So, we have acquired the patent in USD 20 million. Q: You have acquired a patent in USD 20 million? A: Yes, they have four patents and the company. We have acquired a complete company. Q: How will Counterfeit Solutions contribute to your total revenue, going forward, since you said it is an important trigger for your company’s growth? A: Counterfeit is a very big space for the pharma world and the opportunity in this space is USD 50 billion. Out of the entire USD 600 billion, USD 50 billion is the challenge of Counterfeit. I am sure that Bilcare would like it, because this is one of the most innovative and first-of-its-kind solution, which we wish to offer to this market. It is not clear what kind of revenue we can generate through this solution. But the space is very large. |
http://www.moneycontrol.com/india/stockpricequote/packaging/bilcare/12/41/B04 - has acquired Singapore-based Posted By: nikhil090
Date Posted: 02/Jul/2008 at 11:48pm
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[QUOTE=valueman]The EPS for 08 was originally projected to Rs.51.7 and now it is Rs.37.49 due to conversion of warrants and convertible bonds during the year . This was one of the reason why the stock got a severe thrashing yesterday . [/QUOT Pls look at consolidated profits. With profits of 81.5 cr and equity of 16-17 cr, they have done close to 51 Rs /share. Even on the fully diluted equity of 21 cr (which will happen after some time), the EPS is close to 39 Rs.
This is despite the fact that they have started many new things in the last one year which may not have been EBITDA positive right now.
This is a good solid company to own.
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Posted By: nikhil090
Date Posted: 02/Jul/2008 at 12:00pm
http://www.contractpharma.com/news/2008/#top">
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http://www.contractpharma.com/news/2008/05/30/bilcare_expands_storage_capacity - Bilcare Expands Storage Capacity Posted By: atulbull
Date Posted: 02/Jul/2008 at 12:58pm
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Incorporated as Bhandari Paper Products Pvt Ltd in July 1987. The name of the company was changed to BI Ltd in 2001 and further it was changed to Bilcare Ltd on 1st October 2003. The Company is a global provider of pharma solutions. Bil mainly concentrates on Research services, Clinical Services, Design lab, Research Academy, Packaging Systems and Products. It is a leading producer of films and foils for blister packaging of pharmaceutical tab lets and capsules in Asia. The company's plant at Rajgurunagar, Pune is one of its kinds in Asia and the eighth plant of its kind in the world. The company has also received the ISO 9001 and 14001 certificates. Bilcare Singapore Pte
Ltd and Bilcare Gmbh are the subsidiaries of the company. During 1997-98,
company has successfully started the project of Paper Tube Plant at Patalganga,
mainly for the Reliance Industries Ltd. In Pharmaceutical industries packing
material has great importance so company has installed a new modernise plant at
Pune. The Company has diversified its project with the foreign collaborator M/s AC-Folien GmbH, of Germany. Both the project cost upto Rs. 8.30 cr. During the year 1999-2000, German Investment and Development Company (DEG - Deutsche Investitions - Und Entwicklungsgesellschaft MBH) has subscribed to 21% of the Share Capital of PT Bhandari Mishindo , a subsidiary of the Company. In 2003-04 the company has hived off its Biltube division in order to focus its core business of manufacture of pharma packaging and research. With this PT Bhandari Mishindo, which formed an integral part of the biltube Division was ceased to be a subsidiary of the company. During the year 2004-05 the company was in the process of implementing the capacity expansion project in India and Singapore to become a fully integrated supplier of blister packaging material to the pharmaceutical sector. The company has enhanced its installed capacity of PVDC Coated Films by 3500 tonnes and with this expansion the total installed capacity of PVDC Coated films has increased to 14500 tonnes. ------------- Price is what you pay.Value is what you get. |
Posted By: kulman
Date Posted: 03/Jul/2008 at 6:10pm
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I understand that both Essdee Alum & Essel Propak are competitors to Bilcare in some product segments. During the fag end of '07, First Global came out with Buy recommendation. Does anyone have that research report? It's a conincidence that Bilcare's share price topped out around the same time. ------------- Life can only be understood backwards—but it must be lived forwards |
Posted By: nannu_68
Date Posted: 04/Jul/2008 at 10:24am
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Even Bussiness Standard has done a couple of feattures on them.. i remember them as a buy recommendations.. i think one of the features was gems in indains markets...
------------- nannu |
Posted By: valueman
Date Posted: 04/Jul/2008 at 10:50am
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As I said earlier companies like Bilcare , Biocon etc are Knowledge Based Companies and it is not easy to evaluate them like a regular product / service companies .Unless and until you have a solid foundation on the Pharma/Bio Tech Sector Sector it is very difficult to understand what they are doing and how far successful they will be .I spoke to a relative of mine who works in a Pharma Reserach and he said that research in Pharma involves allocation of huge Capital and you cant expect to see the returns of it over nite and sometimes it may take even more than 10 years or so for the research to bear fruit and not all researches will lead to success and it needs lots of patience for investment in Pharma Research to give you financial rewards .
------------- To achieve satisfactory investment results is easier than most people realize ; to achieve superior results is harder than it looks . Benjamin Graham. |
Posted By: kulman
Date Posted: 05/Jul/2008 at 12:20pm
On a side note totally irrelevant to the topic, we should be wary of KBC. While it could mean Kaun Banega Crorepati ....sometimes can turn out to be Kaun Banega Ch$#%^. Chak de India. ------------- Life can only be understood backwards—but it must be lived forwards |
Posted By: kumarrvq
Date Posted: 05/Jul/2008 at 1:23pm
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Pharma or Biotech are difficult for me to understand, while buying medicine do we really look from which company it belongs?
Bilcare being packaging company similar to http://www.moneycontrol.com/india/stockpricequote/packaging/ess-dee-aluminium/12/49/ESS02 - ESS DEE Aluminium which is backed by Fidelity. There is no entry barrier in such business, look at http://www.moneycontrol.com/india/stockpricequote/packaging/essel-propack/12/50/EP11 - Essel Propack which came with innovative tube packaging from aluminium packaging, inspite of world's #1 it is mearly 400Cr company.
Since the investment in starting medicine packaging unit is low, these pharma companies might start such units themself in order to cut cost. Like NTPC started power trading unit insite of PTC being there. ------------- Thanks & Regards, Harry |
Posted By: nikhil090
Date Posted: 05/Jul/2008 at 2:08pm
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Bilcare may be have some lines similar to ESS DEE aluminium but they have no comparison with Essel propack. Bilcare business requires R&D, not only scale. Pharma packaging, where they are leaders by far, requires deep understanding of pharma business. The requirements of Pharma packaging are significantly different from any normal packaging due to shelf life/expiry/forging related issues. These issues are much more sensitive for pharma companies.
Also Bilcare and Biocon are also very different. While Biocon is not much different from an API company with some CRO business (no leadership anywhere), BIlcare has a very robust, profitable business in pharma packaging. It is a pick axe theme on pharma industry growth in India.
Pharma and Biotech are part of knowledge space. It requires specialized knowledge to understand whole of this. So while somebody can buy a formulation company (Torrent, Cipla etc) as something similar to FMCG companies, other spaces are significantly different.
Also I dont think we buy medicines as given by medical shop person. We want the same brand as prescribed by doctor. so there is a branding play here. .HOwever does not have any presence in this space.
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Posted By: tigershark
Date Posted: 05/Jul/2008 at 4:35pm
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mohan bhandaris vision is to make this co a end to end solutions co for the global pharma industry.singular id could be big.www.singular-id .com .if one sees the results revenues have started increasing from the overseas subsidiaries,depriciation and intrest costs have been higher.so has been the staff costs, looks like this one is just about to start growing. ------------- understanding both the power of compound return and the difficulty getting it is the heart and soul of understanding a lot of things |
Posted By: valueman
Date Posted: 05/Jul/2008 at 6:11pm
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It is a mistake to confuse Bilcare with Essel Propack . Bilcare is not just a packaging company .They are more in to R&D on Pharma Packaging and it is a very different from normal packaging that has low entry barriers . This is in essence I feel the business model of Bilcare : Bilcare’s services start right from initial stage in clinical research and cover the entire value chain up to formulation of packaging and anti-counterfeit solutions. Its five focused activities are — clinical supplies, research services, packaging materials, research academy and design lab. Clinical supplies— Bilcare, with its specialised team, helps accelerate clinical trials. It takes care of the requirements and regulations of pre-human trials, thus saving client’s resources and time. It also manages the packaging and dispatch of trial drugs. Clinical packaging & supplies— With small batch manufacturing capabilities, Bilcare also specialises in clinical packaging and randomisation. The active drugs and placebo are packaged with random mix along with coding of packs. Bilcare, with a presence in US, Europe, Latin America, Asia and Australia, has an edge over competitors as they are present only in Europe and the US. Storage and distribution of trial drugs — Bilcare has a niche in this segment with storage facilities for trial drugs in Philadelphia and UK among others. Bilcare delivers trial drugs to the destination with an earmarking for specific patients. After the completion of the trial, Bilcare also provides for return management distribution. Research services—Bilcare plays a vital role in stability studies for drugs. These studies usually takes 12-18 months to be completed, however, Bilcare, through its niche services, reduces this time, sometimes to just four weeks. Global Bilcare Optima is one of its biggest USPs. Note : The above is just a short summary of Bilcare . How much each of these activities contribute to the Bilcare's cash flow I do not know .I am awaiting their annual report for the same . ------------- To achieve satisfactory investment results is easier than most people realize ; to achieve superior results is harder than it looks . Benjamin Graham. |
Posted By: basant
Date Posted: 05/Jul/2008 at 6:34pm
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What is the eps, roe and market cap. Does this represent some kind of an opportunity that can turn into a positive black swan? ------------- 'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in |
Posted By: valueman
Date Posted: 05/Jul/2008 at 6:50pm
Basnatji I am really sorry that I have no answers for the same and I have just started my R&D in to this stock and the difficulty is that neither the company has put their financials on their web site nor much is available in the public domain . I am giving below the text of their MD's speech to share holders as per ICICI-DIRECT.com and delivered in 2007 I feel and it makes an interesting read about the man and his mission .
My feeling is unless and until one educates oneself on the Pharma Industry ( Clinical Trials , Product , Patent , Packaging etc ) one will never be able to clearly understand what they do , why they do and what is unique in their approach etc and I am trying my best to do that now . ------------- To achieve satisfactory investment results is easier than most people realize ; to achieve superior results is harder than it looks . Benjamin Graham. |
Posted By: vijaygawde
Date Posted: 05/Jul/2008 at 8:59pm
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http://www.dnaindia.com/report.asp?newsid=1165205 - Bilcare can be a good bet with its overseas business booming
Bilcare Ltd is a Pune-based company providing niche services in the entire pharmaceutical value chain.
It has research and manufacturing facilities in India, US, UK and Singapore. Bilcare’s increased contribution from global clinical service (GCS) business, growing international business and the expected benefits from acquisitions makes it an attractive bet. Business Clinical supplies— Bilcare, with its specialised team, helps accelerate clinical trials. It takes care of the requirements and regulations of pre-human trials, thus saving client’s resources and time. It also manages the packaging and dispatch of trial drugs. Clinical packaging & supplies— With small batch manufacturing capabilities, Bilcare also specialises in clinical packaging and randomisation. The active drugs and placebo are packaged with random mix along with coding of packs. Bilcare, with a presence in US, Europe, Latin America, Asia and Australia, has an edge over competitors as they are present only in Europe and the US. Storage and distribution of trial drugs — Bilcare has a niche in this segment with storage facilities for trial drugs in Philadelphia and UK among others. Bilcare delivers trial drugs to the destination with an earmarking for specific patients. After the completion of the trial, Bilcare also provides for return management distribution. Research services—Bilcare plays a vital role in stability studies for drugs. These studies usually takes 12-18 months to be completed, however, Bilcare, through its niche services, reduces this time, sometimes to just four weeks. Global Bilcare Optima is one of its biggest USPs. Packaging material— The company provides packaging solutions like value-added films, anti-barriers and other materials, many of which are patented. The company has many long-term contracts in its kitty. Pharma companies allot a new long-term contract usually for 3-5 years and these generally contribute $10-15 million to a company’s revenues. Vinit Mehrotra, CFO, Bilcare, says the company is in the process of finalising some new contracts, which will start accruing big revenues from FY09. Research academy— Out of the total $640 billion pharma market, counterfeit drugs form a whopping $50 billion. Bilcare Research has developed a unique packaging using nano-technology to tackle fakes. The company puts nano-tags with in-built fingerprinting technology in its packaging that are difficult to duplicate. This technology has been patented and will be commercialised by December. Bilcare has also acquired Singular ID to develop innovative products using micro and nano technology. Design lab— Bilcare has state-of-the-art design labs providing innovative design for packaging, which increases communication for patients looking at particular requirements. Solutions for regulatory requirements and counterfeit drugs are also developed in these labs. Investment rationale Out of $640 billion pharma market, which is growing at 7-8%, the US market has a share of $270 billion. Therefore, Bilcare’s US operations are strategic. The company will also commercialise its nano-technology packaging, which is vital in developing anti-counterfeit solutions. Bilcare stands to gain huge revenues from December 2009. Major topline gains from some of its new long-term packaging contracts are likely to start from FY09. Most of the tax benefits enjoyed by Bilcare no longer exist. Bilcare’s effective tax rate is, therefore, rising. Some respite, however, may be seen with Singapore plant gaining zero tax status from FY08. Valuations At the current market price of Rs 675, the stock trades at 12x its FY08E earnings and at 7.5x its FY09E earnings. We believe it is good addition to the portfolio. ------------- Diversification is protection against ignorance, it makes little sense for those who know what they’re doing. |
Posted By: kumarrvq
Date Posted: 05/Jul/2008 at 10:02pm
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I was not comparing Bilcare with Essel Propack, I have mentioned it just to demonstrate the scale of opportunity Essel has and inspite of being #1 worldwide it is jusr 400Cr company...anyway coming back to Bilcare...
It is as of now 1100Cr Mcap company.
Packaging of a medicine might contribute say 5% of the cost of the medicine (just an estimate, don't have actual data or knowledge of Pharma sector). I mean if a medicine cost 100rs then packaging will be 5rs and actual cost of medicine and other will be 95rs.
Indian pharmaceutical sector has an estimated market value of about US $8 billion. It's at 4th rank in terms of total pharmaceutical production and 13th in terms of value. It is growing at an average rate of 7.2 % and is expected to grow to US $ 12 billion by 2010.
So, for the time being if we consider just Indian market, pharma packaging market will be somewhere close to $0.4bn - $0.6bn industry which is Rs 2000Cr approx. and assuming Bilcare being the biggest player in India with Market coverage of say 50-60% then it will do Sales of Rs 1000-1200Cr and as per data FY08 sales was 400Cr....so 3-4 times more it can do sales......I see less headroom for Bilcare to expend assuming Ess Dee is also in this field and if pharma companies start their captive packaging unit.
Lots of assumption I have taken above:-) Frankly I don't understand why packaging of medicine involve lots of research work.....their other business are yet to contribute in big way. ------------- Thanks & Regards, Harry |
Posted By: tigershark
Date Posted: 05/Jul/2008 at 10:06pm
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mcap 1100 crs, sales for fy08-650crs.eps fully diluted fy0832 for fy 09 my estimate is 41. from the results it appears that overseas busineses have started to kick into the bottomline.rupee depreciation should help.as of now a 30% grower available at 16.75 times fy09. for quite sometime they have been doing 16 crs per qrt if this june they can deliver 20+ crs then ill be happy ------------- understanding both the power of compound return and the difficulty getting it is the heart and soul of understanding a lot of things |
Posted By: tigershark
Date Posted: 05/Jul/2008 at 10:13pm
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from now onwards bilcare needs to be seen as bilcare global so sales of 650 crs and not 400 crs.the indian business appears to have become mature its the overseas business which could surprise ------------- understanding both the power of compound return and the difficulty getting it is the heart and soul of understanding a lot of things |
Posted By: valueman
Date Posted: 05/Jul/2008 at 10:21pm
That is where lies Bilcare's opportunity .They wont be investing heavily in research unless they see some great potential in it . ------------- To achieve satisfactory investment results is easier than most people realize ; to achieve superior results is harder than it looks . Benjamin Graham. |
Posted By: nikhil090
Date Posted: 05/Jul/2008 at 11:13pm
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Though I do not know too much about formulation and the packaging part, in pharma the stability of formulation is of UTMOST importance. No regulatory authority anywhere in the world approve the product if it is not good in stability. Packaging plays an important role in that and the solutions can improve/reduce the overall stability. Iwill also try to talk to some of my friends to understand this perspective. The problem is that the information on their website is completely inadequate so we dont get the complete picture.
However, they are exporting their packaging to other countries also, it is not only India.
I eagerly await their annual report to get some understanding of their total business and the plan..
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Posted By: kulman
Date Posted: 21/Jul/2008 at 12:05pm
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Packaging Leaders Bilcare and MeadWestVaco Jointly Acquire International Labs, Inc. http://www.bseindia.com/xml-data/corpfiling/announcement/Bilcare_Ltd_210708.pdf - Click here for more details ------------- Life can only be understood backwards—but it must be lived forwards |
Posted By: praveen
Date Posted: 21/Jul/2008 at 10:40am
I have got hold of an old Fitch debt report of 2004. It seems ROCE has always been around 14-15% And Debt to equity has almost always been higher than 1. Assuming interest rates of 10% and Long term debt/Equity at 1. ROE before tax would be around 20%. However using cheaper debt/ECB it can be boasted to 25%
This doesn't take care of the Intellectual capital they are building (R&D, Patent etc) If one of them clicks comercially the business can go over the roof.
------------- The quest for knowledge is a never ending Journey |
Posted By: tigershark
Date Posted: 25/Jul/2008 at 6:02pm
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a strong 5 yr run by comapanies that specialise in pharma testing shows no signs of slowing down as struggling drug makers farm out even more business to them in atrend that should drive consolidation.some 25% of all preclinical trials is already outsourced to CROS.as laws becom tighter and profit margins squeezed drug makers are expected to rely on cros more heavily in yrs to come. were in the first 2-3 innings of significant outsourcing. we will get to 505 in 3 yrs time said issac ro analyst at leerink swann.the strong out look has helped lift cros shares like convace up 3 times and paraxel int corp up 3times despite turmoil in all financial mkts.drug cos budgets are under quite a pressure that pressurue contributes to strong outsourcing, says jeffries analyst david windley.the mkt rakes in about 71000crs rs in revenue and is growing at an annual rate of 15%.convace has a mkt cap of 23144crs pharma products dev has 20000crs and charles river has 18000crs bilcare is at 1100 crs! ------------- understanding both the power of compound return and the difficulty getting it is the heart and soul of understanding a lot of things |
Posted By: kulman
Date Posted: 25/Jul/2008 at 7:10pm
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Doctor, what's the source? Bloomberg?
------------- Life can only be understood backwards—but it must be lived forwards |
Posted By: tigershark
Date Posted: 25/Jul/2008 at 9:30pm
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local goan newspapaer O HERALDO ------------- understanding both the power of compound return and the difficulty getting it is the heart and soul of understanding a lot of things |
Posted By: kulman
Date Posted: 25/Jul/2008 at 9:32am
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Oh okay. On a side note, I heard rumours that the innovators in this field are working on something extra-ordinary. The new packing for depressant medicines for http://www.theequitydesk.com/forum/forum_posts.asp?TID=1099 - Mungerilals will have two expiration dates: one for the pills & one for the patient. ------------- Life can only be understood backwards—but it must be lived forwards |
Posted By: praveen
Date Posted: 07/Aug/2008 at 12:39pm
I think it did 20+ crs this qtr on a consol basis. ------------- The quest for knowledge is a never ending Journey |
Posted By: chimak10
Date Posted: 07/Aug/2008 at 1:18pm
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Little info about BILCARE
Interview of bilcare key personal http://www.drugdeliverytech-online.com/drugdelivery/200704/?pg=89 - http://www.drugdeliverytech-online.com/drugdelivery/200704/?pg=89 |
Posted By: Circuit
Date Posted: 06/Sep/2008 at 12:14pm
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http://www.capitalmarket.com/CMEdit/story2-0.asp?SNo=266210 - Wal-Mart tie-up with Bilcare ? |
Posted By: valueman
Date Posted: 13/Sep/2008 at 5:31pm
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Packaging Leaders MWV and Bilcare Jointly Acquire International Labs, Inc. July 21, 2008 8:00 AM ET http://news.moneycentral.msn.com/ticker/article.aspx?Feed=BW&Date=20080721&ID=8915437&Symbol=MWV Business WireAll Business Wire news MeadWestvaco Corp. MWV and India-based Bilcare Ltd. today announced the joint acquisition of pharmaceutical packaging company International Labs of St. Petersburg, Fla. The joint acquisition will leverage best-in-class capabilities for adherence-promoting pharmaceutical packaging and streamline the supply chain by eliminating several steps in the distribution channel, helping to make adherence packaging more widely available to consumers throughout the global marketplace, especially through growing low-cost generic and branded drug programs. The acquisition was completed on July 18, 2008. Terms of the agreement were not disclosed. The partnership combines MWV’s capabilities in healthcare packaging design and innovation, including compliance and injection molded packaging; Bilcare’s research and expertise in materials, products, processes and services which enable the safe and effective integration of pharmaceuticals and packaging; and International Labs’ contract packaging services for retail pharmacies, and large generic and branded drug manufacturers. “The combination of our turnkey capabilities has helped enable the creation of new, highly efficient, consumer-oriented supply chains that are changing the economics of global healthcare and improving patient outcomes,” said Bruce Thomas, senior vice president, Global Market Strategy for MWV. “This acquisition is one component of our healthcare strategy in product innovation, capacity expansion, and other growth investments. We are continuing to work with retailers, including Wal-Mart, and generic and branded pharmaceutical companies to continue to bring our innovative healthcare compliance solutions to serve the fast-growing needs of the global healthcare market.” International Labs is using the MWV compliance packaging solution Shellpak® for generic and branded drug programs. Shellpak is a pre-filled medication package that can be immediately distributed to consumers, alleviating the need for pharmacists to count pills. The package’s unique and efficient design integrates a foil-backed blister pack with a labeled, injection molded plastic shell, and eliminates the need for unnecessary transport packaging. The solution’s expert design is proven to enhance patient outcomes by motivating and reminding patients to take medication as prescribed. Shellpak’s additional unique features that promote patience adherence and safety include: * blisters imprinted with dosing dates and times, re-enforcing the prescribed regimen * instructional labels attached to the package to ensure dosing information is available until the medication is completely consumed * child safe and senior friendly* packaging and drug dispensing system * availability of billboard space on the package offers pharmaceutical companies the opportunity to promote their drug brand and critical information, strengthening the visibility of the package on the shelf. “As a leading resource for healthcare companies, Bilcare has unique visibility into the increasingly global healthcare market,” said Mohan Bhandari, chairman and managing director of Bilcare. “We are excited about the acquisition of International Labs; our partnership with MWV will allow us to combine our global experience, primary and secondary packaging expertise, and research and development capabilities to bring compliance packaging solutions to customers throughout the world.” ”Bilcare is intently focused on developing technologies that improve patient health outcomes,” continued Bhandari. “For example, the recent unveiling of Bilcare’s nanotechnology-based secure fingerprint is a major step toward securing the pharmaceutical product supply chain in its entirety from the manufacturer to the patient. This highly advanced technology has ability to not only secure the e-pedigree needs via a safe authentication system but also provide a wide range of business solutions.” *Shellpak passed the Consumer Product Safety Commission child resistant and senior friendly pharmaceutical packaging protocols at F=1, which is the highest level of child resistance attainable. About MWV MeadWestvaco Corporation MWV, provides packaging solutions to many of the world’s most-admired brands in the healthcare, personal and beauty care, food, beverage, media and entertainment, and home and garden industries. The company's businesses include Consumer & Office Products, Specialty Chemicals, and the Community Development and Land Management Group, which sustainably manages the company’s land holdings to support its operations, and to provide for conservation, recreation and development opportunities. With 23,000 employees worldwide, MWV operates in 30 countries and serves customers in more than 100 nations. MWV manages all of its forestlands in accordance with internationally recognized forest certification standards, and has been named to the Dow Jones Sustainability World Index for the fourth consecutive year. For more information, please visit www.mwv.com. About Bilcare Bilcare is an international, integrated service provider to the global pharmaceutical industry offering one stop solution in pharma packaging research, global clinical trial supplies services, anti-counterfeit technology and an acclaimed research academy. Bilcare operates state-of-the-art manufacturing and research facilities in India, Singapore, US, UK and has regional offices in Brazil, Germany, China and Australia. Bilcare is committed to the 5 C’s of the industry’s key concerns viz. Counterfeit, Compliance, Costs, Communication and Convenience. For more information, please visit www.bilcare.com. Forward-looking Statements Certain statements in this document and elsewhere by management of the company that are neither reported financial results nor other historical information are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such information includes, without limitation, the business outlook, assessment of market conditions, anticipated financial and operating results, strategies, future plans, contingencies and contemplated transactions of the company. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors which may cause or contribute to actual results of company operations, or the performance or achievements of each company, or industry results, to differ materially from those expressed or implied by the forward-looking statements. In addition to any such risks, uncertainties and other factors discussed elsewhere herein, risks, uncertainties, and other factors that could cause or contribute to actual results differing materially from those expressed or implied for the forward-looking statements include, but are not limited to, events or circumstances which affect the ability of MeadWestvaco to realize improvements in operating earnings from the company’s ongoing cost reduction initiatives; the ability of MeadWestvaco to close announced and pending transactions, including divestitures; the reorganization of the company’s packaging business units; competitive pricing for the company’s products; changes in raw materials pricing; energy and other costs; fluctuations in demand and changes in production capacities; changes to economic growth in the United States and international economies; government policies and regulations, including, but not limited to those affecting the environment and the tobacco industry; the company’s continued ability to reach agreement with its unionized employees on collective bargaining agreements; the company’s ability to execute its plans to divest or otherwise realize the greater value associated with its land holdings; adverse results in current or future litigation; currency movements; and other risk factors discussed in the company’s Annual Report on Form 10-K for the year ended December 31, 2007, and in other filings made from time to time with the SEC. MeadWestvaco undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Investors are advised, however, to consult any further disclosures made on related subjects in the company’s reports filed with the SEC. MeadWestvaco Corporation (MWV) Media Contact: Alison von Puschendorf, +1 804-327-7284 [email protected] or Investor Relations: Jason Thompson, +1 804-201-2556 Copyright 2008 Business Wire ------------- To achieve satisfactory investment results is easier than most people realize ; to achieve superior results is harder than it looks . Benjamin Graham. |
Posted By: smart_prof
Date Posted: 13/Sep/2008 at 8:40pm
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Basantji,
Looks to be a great opportunity can it be in a concentrated portfolio Pl suggest ??????????? |
Posted By: basant
Date Posted: 13/Sep/2008 at 7:32am
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Do not know pharma but the TED Doctor (Tigershark) is bullish on this one. ------------- 'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in |
Posted By: MissingLink
Date Posted: 13/Sep/2008 at 8:59am
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Basantji, The ROE seems to be around 20% (read from a previous post by praveen on this thread). Doesn't seem to be on your expected line of atleast 35% ROE levels. Also debt to equity ratio seems to be high. Does it look like a TED XI stock ? |
Posted By: tigershark
Date Posted: 13/Sep/2008 at 10:55am
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i expect bi to do 85 crs for fy 09 on an equity of 20 crs, so do we need to rework the roe? secondly you dont have to have an very high roe to make a great investment,many cos with high roe have vey weak entry barriers and their business can be easily replicated.in the last 1 yr bi has made 3-4 aquisitions, money was raised thru debtand pvt placement and reinvestments of retained profits, the benefits of these should improve bottomline further.there r no doubts on mgmnt.globally big pharma mncs are forced to outsource to become leaner and more profitable, bi helps such cos although its not the only one around.future earning potential for bi looks interesting.debt should come down once equity conversion is complete.on an eps of 40+ it trades 16 times fy 09. ------------- understanding both the power of compound return and the difficulty getting it is the heart and soul of understanding a lot of things |
Posted By: praveen
Date Posted: 13/Sep/2008 at 11:54am
You need to add the reserves of the company as well. That makes it almost 400 cr. ROE is at ~20% which is not bad by any means but nothing spectacular as well. The higher the ROE for a leveraged co. the better, as it would be able to repay the debt faster and thus transfer of debt to equity assuming EV to be same. In the bull run they were successfully raising repeated FCCB at high conversion prices limiting dilution and thus adding value. The question is how would they fund such higher growth say 35-40% on a 20% ROE and already leveraged Balance sheet with poor capital market scenario. However on the business front they are doing quite well Keeping all this in mind, BI is very reasonably valued in IMHO (neither over-valued nor under-valued) ------------- The quest for knowledge is a never ending Journey |
Posted By: Vivek Sukhani
Date Posted: 14/Sep/2008 at 3:44pm
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If packaging is what members here are interested, they may also lok at Hindusthan National Glass. They are not into blister packaging but into glass container, which we know better as 'bottles'. The applications of the product is in pharma, liquor( alcoholic) and food processing. the company holds close to 70 p.c. share in ghlass container business in india, and the clientele list is wonderfully impressive.
------------- Jai Guru!!! |
Posted By: vijaygawde
Date Posted: 14/Sep/2008 at 4:58pm
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Bilcare is a Knowledge Process Outsourcing (KPO) company that has built an integrated business model in pharmaceutical testing and packaging.A series of acquisitions have helped the company build scale rapidly.
The company came into the limelight in 2007, when the news of a series of events took its share from Rs 600 to its highest closing ever, at Rs 1,700 on 31 December 2007. Since then, it has retraced virtually all of its gains of last year, and seems to have found a bottom at Rs 630 . It currently trades at around Rs 700, a price at which we believe it merits consideration.Bilcare provides testing and other services to pharma companies in the pre-launch phase. Pharma packaging is another strong area where the company has several proprietary products—essentially laminates of plastic and/or paper, structures to offer optimum barrier properties to medicines according to their formulation. For example, some medicines are extremely hygroscopic, attracting water easily, and so the packaging has to block out moisture, while some products may need robust child-protection packaging. Having helped design packaging, Bilcare also undertakes stability studies and packaging audits to see how the product holds up in simulated storage conditions. In clinical research, Bilcare offers supplies management to pharma companies, which includes preparing the batches for field testing, labelling and distribution, and gathering feedback through interactive voice recording systems (IVRS). At the manufacturing end, Bilcare consults to manage packaging solutions, including machinery design and procurement, and audit of on-going production facilities. To capitalise on the possibility of a recurring revenue stream, Bilcare also has a packaging material facility, which supplies the tested and approved material to its clients. Financials: This appears to be a highly robust business model, and the company now has a total of eight international subsidiaries that help either round out the product offering, or provide innovative technology—the latest being Singular ID, a Singapore operation which has developed finger-printing technology to combat counterfeit drugs (India is the largest source of fake drugs).
In the five years from financial year (FY) 2003 to FY08, Bilcare has seen its turnover go up from Rs 87 crore to Rs 650 crore, a compounded annual growth rate (CAGR) of exactly 50 per cent. Net profit has grown even more strongly, from Rs 7 crore to Rs 81.55 crore, a CAGR of 63 per cent. During the first quarter of the current fiscal the turnover increased by 43.31 cent when compared to corresponding quarter last year, while the net profit has grown by 27.52 per cent. Valuations: Listed only on the Bombay Stock Exchange, the company has a small capital base of only 16.4 million shares of Rs 10 each. The latest Q1 earnings, therefore, translate into Rs 50.68 per share (on a trailing twelve months basis). This means that the current market price discounts earnings at 14 times. As for the fears of worldwide cash crunch and economic slowdown, Bilcare is unlikely to be substantially hit by these. Pharma majors tend to be extremely cash-rich, and are at present desperately looking for ways to improve their product offerings. The company has around 500 pharma companies on its client list, including the world’s largest—Pfizer, GlaxoSmithKline, Aventis, Abbott, Merck and Novartis, and the home-grown Cipla and Ranbaxy. ------------- Diversification is protection against ignorance, it makes little sense for those who know what they’re doing. |
Posted By: Vivek Sukhani
Date Posted: 24/Sep/2008 at 9:12am
Any linkage between the 2 businesses. Look at the acquired holding...... ------------- Jai Guru!!! |
Posted By: tigershark
Date Posted: 25/Sep/2008 at 10:39pm
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bilpower and bilcare are 2 different companies! ------------- understanding both the power of compound return and the difficulty getting it is the heart and soul of understanding a lot of things |
Posted By: Vivek Sukhani
Date Posted: 25/Sep/2008 at 11:56pm
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Yeah....sorry!!!!! ------------- Jai Guru!!! |
Posted By: valueman
Date Posted: 04/Oct/2008 at 12:31pm
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Bilcare bags European Outsourcing Award Published on Fri, Oct 03, 2008 at 16:40 , Updated at Fri, Oct 03, 2008 at 19:05 Source : Moneycontrol.com Bilcare Ltd., service provider to the pharmaceutical companies spanning across their value chain from drug discovery to market bags the prestigious European Outsourcing Awards in ‘Best New Product’ category. The award will be bestowed at a gala dinner function in Frankfurt on October 1, 2008 at the annual pharmaceutical flagship event, CPhI Worldwide, 2008. Dr. Volker Huelck, Board Member, Bilcare Ltd accepted this prestigious award on behalf of the company. “Bilcare for the past several years has been working relentlessly in providing end to end solutions for the global pharmaceutical sector across its entire value chain through its unique products, services and technologies in pharma packaging innovation, global clinical supplies and Brand management technologies. The product which has won the award today is more popularly known by its brand names Patina & Ultra range of products and was the successful outcome of an integrated research effort of pharma and material scientists with an in-depth insight of the end use requirement. Today it has become the most popular base level anti-counterfeit solution and is being successfully used by many leading pharma brands in India and other countries for not only brand authentication but also for brand positioning. This award is an apt recognition of Bilcare’s focused endeavour to provide continual innovative solutions to address the key concerns of the pharma sector” said, Dr. Volker Huelck. On this occasion, Mohan Bhandari, Chairman & Managing Director, Bilcare Ltd, said : “Bilcare’s recent unveiling of its path breaking technology for secure authentication and track & trace of pharmaceutical / medical products using its novel, non-duplicatable “Signanotures” tags based on nano-particulate composite systems employing inherent disorder technology. I am confident that this novel and commercially affordable technology will immensely benefit the European pharmaceutical manufacturers in their endeavour to establish a fully secure authentication and track and trace system for their products enabling the eradication of Counterfeit menace as well as establishing a sound and secure track and trace mechanism in entire Europe” The European Outsourcing Awards are designed to celebrate and recognise excellence in R&D, marketing, business and technology across the pharmaceutical outsourcing, biopharmaceutical and clinical trial industries. The awards also recognise new and significant developments in contract services and rewards successful companies for their outstanding contributions throughout the year. Judged by an eminent panel of judges Bilcare has been able to carve a niche in the development of a new product which is slated to bring about ground breaking changes in pharma packaging. Sourced From: Corporate Voice|Weber Shandwick ------------- To achieve satisfactory investment results is easier than most people realize ; to achieve superior results is harder than it looks . Benjamin Graham. |
Posted By: tigershark
Date Posted: 01/Nov/2008 at 3:26pm
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a 60% increase in topline consolidated has not reached the bottomline due to increase in raw material costs, staff costs, a virtual trippling of interest and an increase in depriciation.qrt net down40%. hence the pe contraction. ------------- understanding both the power of compound return and the difficulty getting it is the heart and soul of understanding a lot of things |
Posted By: manish_okhade
Date Posted: 07/Mar/2009 at 9:33am
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RJ has recommnded only three stocks in the interview in Capitol Gains Ideas - Tata Steel, Bilcare and Titan. He said Bilacare has the potential to become big MNC of the league.
Does anybody know a billion $ MNC in pharma packaging or clicnical research sector?
|
Posted By: shadows
Date Posted: 15/Mar/2009 at 1:23pm
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Dear Basant for Bilcare what the animated face do u think for the nxt 3-4 years and i want ur valuable sugge.. for a new investor thinking for a fresh investmt. iam assuming like for past 3years holders  for past 2 year investor  for the past one year investor  Thanks&Regards ShadowS |
Posted By: vijaygawde
Date Posted: 07/Jul/2009 at 7:38pm
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Bilcare has tanked very badly (down 25% in last 3 days) after the news of RJ's resignation as Director. Info on Insider sale may follow soon  ------------- Diversification is protection against ignorance, it makes little sense for those who know what they’re doing. |
Posted By: shadows
Date Posted: 07/Jul/2009 at 8:04pm
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is he only resigned or sold the stake also.................. |
Posted By: FutureBull
Date Posted: 09/Jul/2009 at 12:21pm
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he used to be bullish on this one sometime back..may be he is short of time..no decision can be taken just on this news..but certainly a negative development. ------------- ‘The market always does what it’s supposed to — BUT NEVER WHEN’. |
Posted By: Crimsonarcher
Date Posted: 10/Aug/2009 at 11:06am
| The statement says that RJ would continue to associate himself with the company as a long term investor. Also in one of his interviews RJ was very bullish on the potential of this company, and what they are trying to acheive. I think the steep fall presents a great opportunity to buy into this company. |
Posted By: FutureBull
Date Posted: 11/Aug/2009 at 12:29pm
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RJ sold around 3k shares last quarter.. this company has developed technology and process to become largest packaging company in the world but it is finding extremely difficult to deploy given resistance from Pharma cos.. it is at make or break situation.. to become huge multibagger from here.. In the mean time don't know who is dumping huge nos of shares and given daily volumes.. it is in looking extremely weak..even if tech doesn't succeed it will be steady compounder like any other pharma stock..yes good buy at current price barring technicals ------------- ‘The market always does what it’s supposed to — BUT NEVER WHEN’. |
Posted By: tigershark
Date Posted: 11/Aug/2009 at 4:22pm
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resistance from pharma cos ------could you pl explain what does it mean?i thought this co was supposed to be helping big pharma cos with their packaging solutions, and clinical trials
------------- understanding both the power of compound return and the difficulty getting it is the heart and soul of understanding a lot of things |
Posted By: FutureBull
Date Posted: 11/Aug/2009 at 4:41pm
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tigershark, you must be aware that they have developed biometric technology to track counterfeit drugs but that is new and taking lot of time to convince for deployment..they are still in talks with many pharma giants for deploying this..if that clicks it will certainly be a huge multibagger from here but it seems somebody is not convinced and dumping huge quantity everyday..some wait and a few quarters r reqd. to see how it goes.. ------------- ‘The market always does what it’s supposed to — BUT NEVER WHEN’. |
Posted By: tigershark
Date Posted: 11/Aug/2009 at 10:22pm
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yes i know about that.they bought singularid for that.that in the future could be big business.the reason why it is falling in the last one week is probably it being a pune based manpower co they could be absentees to work and their work schedule being delayed
------------- understanding both the power of compound return and the difficulty getting it is the heart and soul of understanding a lot of things |
Posted By: FutureBull
Date Posted: 11/Aug/2009 at 10:38pm
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isn't it this a very temporary prob.? should not be a convincing reason to do so at such a good valuation ------------- ‘The market always does what it’s supposed to — BUT NEVER WHEN’. |
Posted By: Circuit
Date Posted: 11/Aug/2009 at 11:05pm
Pune is under SwineFlu grip..... and mkts are under grip of Drought scare..... Who cares for packaging co. in such times?? |
Posted By: FutureBull
Date Posted: 11/Aug/2009 at 11:16pm
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Cicuitji, I would like to contest that..
Pharma is considered defensive sector.. i remember when market was down by 40% Lupin was flat.. there is something cooking.. this has been very weak even before swine flu scare and no sign of meaningful bounce ------------- ‘The market always does what it’s supposed to — BUT NEVER WHEN’. |
Posted By: shivkumar
Date Posted: 11/Aug/2009 at 1:01am
| how does one compare bilcare to essdee? if one has to choose between the two, that is. |
Posted By: neerajlulla
Date Posted: 12/Aug/2009 at 1:20pm
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ESSDEE ------------- buy and forget for long term |