On 11 May, 2021, the management of Granules India held a conference call to discuss Q4FY21 results. Th actual call can be heard here at Research Bytes
Today i.e. 12 May, 2021, the transcript was uploaded to the stock exchanges.
In an astonishing turn of events, the reported transcript changes the actual statement in the call to reflect something that will please investors.
What was reported:(21st Minute)
What was actually said:
Krishna Prasad Chigurupati : ” “For the current fiscal, we expect that the growth-the EBITDA also will be around 20% and the growth also over the base of FY 21 will be around 20%”
What was reported: (31:40 Minute)
What was actually said:
Kunal Dhamesha: The first question is related to para-aminopheno. So our guidance of 20% EBITDA margin,does that assume significant deflation in PAP prices in, let’s say, quarter 3 or quarter 4? Or does that assume similar pricing, which we are getting on PAP right now?
What was reported: ( 34th Minute)
What was actually said:
Krishna Prasad Chigurupati: “Yes, 25% EBITDA is what we always plan.I’ve been saying that is what we are optimistic about. And definitely considering that FY22 is going to be 20% and we are expecting between 20 and 25 in three years CAGR ..FY23 and FY24 will be close to 25%’ (Ed: Bold Portion is missing in the transcript)
What was reported: ( 40th Minute)
What was actually said:
Krishna Prasad Chigurupati DID NOT SAY THE UNDERLINED WORDS !!
What was reported: ( 49:30th Minute)
What was said:
Krishna Prasad Chigurupati DID NOT SAY THE UNDERLINED WORDS !!
What he actually said: ” You are right.There could be a little variation in what we are saying.One of these things like the previous question, there could be a little mismatch but we will give exact details.Thats not an issue.There is slight mismatch.” (Ed: Bold Portion is missing in the transcript)
