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Jainwala participated in yesterday's Jubilant Life conference and, as usual, asked the management some tough questions. So let's listen to a snippet of this conversation. You have 4.4 crore exceptional expenses in the pharmaceutical business and 5 crore interest. Can we learn about the nature of your exceptional expenses?
So, this...this is GP. There's a lot of consolidation happening on the client side right now, which is leading to some contingencies and, you know, pricing pressure, pressure for some adjustments. And that's just for this, and it's likely to be a one-time event, irregular. Irregular 4.4, I mean, maybe we took on the costs of previous deliveries.
Is that correct? You know, I don't want to go into detail, but this...this... If this is a price reduction, why is this an exceptional case? Can you repeat that? Why is this an exceptional case? I mean, why is this an exceptional case? But this...this is not...this is a one-time item that went into the income statement because of some deficit that is irregular.
Okay, what about this 5 crores? So if you bring that back into the income statement , our margin of over 31% in pharmaceuticals will remain. This is what we commented on. And what is this 5 crore percent that you called exceptional? No, these are the costs of opening a debt, when we borrowed money at a lower interest rate, we paid off an existing loan that was at a higher rate.
So, is this over, or is there any part still left? Yes, that's right. Is this over or is there more to it ? This...this is all over. Good. Another question: what is this 60 million IFCI bond , or if it is converted, will you cancel this interest expense? No, we will issue, we will issue shares. We will not, we will not have any debit on the income statement.
This debit appeared in the report because every year we provide a 10% discount to the IPO price. We should give them this discount. Of course. No, it is a conditional debit that is accrued and added to the credit to increase the credit to such a level that when we issue shares, the credit decreases and the equity increases.
So, does this mean you will issue shares worth 60 million plus accrued interest expense plus 10% of the IPO price? Absolutely correct. That's $60 million, and the accrued interest to date is another $25 million, for a total of $85 million in capital for this. And you will credit it to your stock premium account.
We will credit, we will debit credit and credit cash capital in this amount. Now, you know, in your note nine on amortization, you know, you wrote off some intangible assets. According to note nine of your declaration for the stock exchange. This will again be a one-time write-off that will occur through asset write-offs , so those kinds of things have been included in depreciation along with that.
Is this a one-time thing or is this an exceptional case? Is this a one-time thing or will it be repeated? Sir, there is no such thing as an exceptional case. These are all one-time items that are now being written off. But are you going to write off anything else, or have you already written off everything that needed to be written off?
No, everything has already been written off. Of course. Then what about your prices, many people talk about vitamin prices, and what do you mean ? Pyridine, what do you call it? Pyridine, have we grown significantly? Is this true? Yes, we have already announced a price increase for niacinamide, which is related to the prices for the vitamin business.
Of course. So, this business is doing very well right now . Going forward, we also expect this business to continue to operate successfully. And when did this price increase happen? In April, whether they acted in the last quarter, or... The effect of this will be felt in the future, starting from this quarter.
A. We announced a price increase in December of 15%. So far, we have achieved price increases even greater than announced, and we continue to see shortages in the market. No, but not in the video from my life sciences friend . I'm talking about vitamins, what other pyridine products do you have? Yes, I was talking about vitamins, meaning niacinamide.
Of course. In the life sciences ingredients business. Of course. What about other pyridine-based products, what do you call them? So, therefore, the prices of pyridine, beta-picoline, and 3-cyanopyridine, which are other advanced intermediates, are clear. they also remain in short supply in the market and their prices are also rising.
Of course. Now, what's this story about the factory closing? So , will this impact your sales this quarter, or will you compensate for it with existing inventory? And when will the factories return to normal operation? Yes, the plant was closed for about 10-12 days, and we will make up for most of the lost production during the rest of the year.
So, this may affect the quarter, but not the year as a whole . Yes. This quarter it will be. There will be an effect, there will be a slight impact, but later in the next quarter it will be an impact, but later in the next quarter we will compensate for it. Of course. So, the current quarter may suffer. To some extent.
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