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Suven Life Sciences, Kaveri Seeds, Kitex Garments: A re-look at the PEG - Views on News from Equitymaster
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  • Feb 17, 2016 - Suven Life Sciences, Kaveri Seeds, Kitex Garments: A re-look at the PEG

Suven Life Sciences, Kaveri Seeds, Kitex Garments: A re-look at the PEG
Feb 17, 2016

Since our views on stocks recommended in The India Letter are anchored to their earnings growth estimates and PEG valuations, it is important to evaluate these metrics from time to time. Especially in cases where the performances are not exactly in line with our assumptions.

The stock of Suven Life Sciences has witnessed sharp correction since it was recommended in The India Letter recommendation in March 2015. In fact, the stock has breached our original Best Buy price. We had recommended you to invest 25% of sum intended to be invested in the stock.

Two factors have resulted into sharp correction in the stock price of Suven. One is the company's poor performance in last three to four quarters. Two, the overall plunge in the markets.

Suven derives major portion of its revenues from Contract Research and Manufacturing Services (CRAMS) to its customers. The company supplies drug intermediates to global innovator companies when they are still under the development phase. In the initial stage the company supplies small quantities of intermediates to its clients and when the drug receives approval Suven gets bigger contract for such supplies for longer period. These supplies offer much better margins as compared to company's overall business.

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