The company generates nearly 48 per cent revenue from the consumer electronics segment, which mainly comprises of LED TVs. During Q4FY20, the company added three new customers for this business including Toshiba. The company is in a process to enhance LED TV capacity to 4.4 million units in FY21 from 3.6 million currently.

The proceeds from this fundraising will be utilised for funding of capital expenditure, refinancing of existing loans, and other general corporate purposes.

As per CARE Ratings’ report, the rating strengths are tempered due to an increase in the debt levels, significant decline in market capitalisation, which along with high promoter pledge is expected to significantly impact financial flexibility, high working capital cycle, refinancing risk and the intense competition in the retail industry.

This is the first order win of the company for the month of July 2020. In the last month i.e. June 2020, the company had secured orders worth Rs 431.63 crore from BHEL and IIT.

The approval causes the contractual pre-commercialisation milestone of USD 20 million payable to Hatchtech Pty Limited. XEGLYZE is used in the treatment of head lice infestation in patients six months of age and older. The company is working to commercialise this product through its partners.
 

On the liquidity front, the company’s working capital cycle has also been affected by rising inventory days from 79 in FY17 to 85 in FY18 and 91 in FY19. The company’s liquidity has been harshly affected due to lockdown measures. It has applied to the lenders for a moratorium as per the RBI package as well as to the bankers for enhancement in working capital limits.

Looking at the revenue aspect, this project is likely to generate revenue to the tune of around Rs 5,000 crore over the next five to seven years. Going ahead, this would result in further strengthening the cash flow and the balance sheet of the company.

With this agreement, Biocon Biologics will become one of the first companies to offer insulins to type 2 diabetes patients after getting a clearance from United States Food and Drug Administration (USFDA).

In a letter to the company, Drug controller Dr VG Somani said that a Member of Parliament (MP) has informed that the cost of treatment from FabiFlu (Favipiravir) will come to around Rs 12,500, which is not good for the poor as well as the middle-class families.

The company has received approval to market Butalbital, Acetaminophen and Caffeine medicines in the strengths of 50 mg/325 mg/40 mg. This combination of medicines is used in the treatment of patients suffering from symptoms of tension headaches.