Notes

Pharma companies are kind of a "black box". Their profits depend too much on:

- new drug discoveries
- being first to market with generics
- selling at high prices to government programs (USA)
- selling at high prices through doctors (India)

All these factors are uncertain and it is difficult to predict the future profits reliably.

Sun Pharma is obviously a very good and GLOBAL company. It has 2000 products, 2000 scientists and spends 2000 crore every year on R&D.
It is the #1 company in India (8.6% market share), which has only just started to grow and consume medicines. Its profit was quite good in FY17 (29 EPS). In Q1 of FY18, it was impacted mainly by one time settlement fees and because the exclusivity period ended for Imatinib (a blockbuster drug). When will it have the next blockbuster drug? We can only guess - and that's the problem with these pharma companies.

I think the trick is too make sure that no company becomes too big a part of one's portfolio. I learnt that the hard way from IBM. Warren Buffett bought it around 175. I blindly followed him and bought A LOT of it around 190 even though I didn't understand anything about the company. That was 3 years ago - today the price is 140 and going down every month.. And because I bought a lot, I can't even average now that it is down. Because of the IBM investment, my america portfolio is flat even though the market has gone up a lot since 3 years ago.

Warren Buffet says that you don't have to make money the same way you lost it (i.e. from the same stock). I am looking for something that will go up faster than IBM - and hoping for the courage to switch some stock. I don't know what your breakeven price is for Sun Pharma, but if I something that could recover money faster than Sun Pharma, I will let you know. Maybe Sun Pharma itself will go to 750-800 soon (if it launches some super products).

On Sun, Sep 3, 2017 at 1:50 PM, sanjay vachhani <[email protected]> wrote:
Just forwarding to you for any odd marks in there and let me advise.
At your total convenience, of course.

My holding is very big than what this reflects.

sanjay vachhani


On Friday, 1 September 2017 7:57 PM, Sun Pharmaceutical Industries Limited <[email protected]> wrote:


SUN_PHARMA
Sun Pharmaceutical Industries Limited
Registered Office: SPARC, Tandalja, Vadodara – 390 020, Gujarat, India.
Tel: 0265-6615500/600/700 Fax: 0265-2354897
Corporate Office: Sun House, Plot No. 201 B/1, Western Express Highway,
Goregaon-East, Mumbai - 400 063, India Tel: 022-43244324 Fax: 022-43244343
CIN : L24230GJ1993PLC019050
Website: www.sunpharma.com Email: [email protected]

September 01, 2017

Dear Shareholder,
1.
Name & Registered Address of the Sole/ /first named Member
GARIMA SANJAY VACHHANI
17 TRISHA 2, NR ASTRON SOC
B/H VIDYAKUNJ SOC AMIN MARG, RAJKOT, 360001
2.
Registered Folio No./DP ID & Client ID No.

IN30357510054207
3.
No. of Shares held
108

We are pleased to send you the Annual Report of Sun Pharmaceutical Industries Limited (“Sun Pharma” / “the Company”) for the year 2016-17 which includes the Board’s Report, Auditors’ Report and the Audited Standalone and Consolidated Financial Statements, etc., for the year ended March 31, 2017.

You may note that the Twenty-Fifth Annual General Meeting of the Company is scheduled to be held on Tuesday, September 26, 2017 at 10.45 a.m. at Sir Sayajirao Nagargruh, Akota, Vadodara – 390 020, Gujarat, India.

You can access / download the Notice for Twenty-Fifth Annual General Meeting of the Company, the Attendance Slip & Proxy Form and Annual Report for the year 2016-17, by clicking on the following links:
1) Sun Pharma – Notice of 25th AGM 2016-17
2) Sun Pharma – Attendance Slip & Proxy Form
3) Sun Pharma – Annual Report 2016-17

The Notice for Twenty-Fifth Annual General Meeting of the Company, the Attendance Slip & Proxy Form and Annual Report of the Company for the year 2016-17 are also available on the website of the Company at www.sunpharma.com.

In accordance with the applicable provisions of the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 and the Companies Act 2013, read with Companies (Management and Administration) Rules, 2014, the Company is pleased to provide facility to its members, to cast their vote electronically for all the resolutions proposed at the 25th Annual General Meeting of the Company. The Company has appointed Central Depository Services (India) Limited (CDSL) to provide remote e-voting facility to its members for the 25th Annual General Meeting. The website for remote e-voting is: www.evotingindia.com

Remote E-Voting Particulars for the 25th Annual General Meeting:

Electronic Voting Sequence Number (EVSN)
User ID
*Default PAN
170822097
IN30357510054207
USE YOUR PAN
*Only Members who have not updated their PAN with the Company/ Depository Participant shall use default PAN in the PAN field.
The remote e-voting period, for resolutions proposed in the Notice of 25th Annual General Meeting, begins on Saturday, September 23, 2017 at 09.00 a.m. and ends on Monday, September 25, 2017 at 5.00 p.m. During this period shareholders of the Company, holding shares either in physical form or in dematerialized form, as on the cut-off date of Tuesday, September 19, 2017 may cast their vote electronically. The remote e-voting module shall be disabled by CDSL for voting thereafter.
Detailed procedure for remote e-voting is provided in the Notice of 25th Annual General Meeting.
In case you have any queries or issues regarding remote e-voting, you may refer the Frequently Asked Questions (“FAQs”) and remote e-voting manual available at www.evotingindia.com under help section or write an email to [email protected]
For the Annual General Meeting, the voting right of shareholders shall be in proportion to one vote per fully paid equity share of the Company held by them as on the cut-off date Tuesday, September 19, 2017.
In case you wish to receive the printed copy of the Annual Report, please send a request to the Company/Registrar by letter or by an e-mail to the e-mail id: [email protected] or at [email protected]. Please quote your Folio No. / DPID / Client ID in the letter / e-mail. Upon receipt of your request, Company / Registrar will send you, free of cost, a physical copy of the Annual Report.
Please note that all future shareholder communications would be sent in electronic form to this e-mail address. Please inform any change(s) in your e-mail address to the Depository through your Depository Participant.
Thanking you,
Yours truly,
For Sun Pharmaceutical Industries Limited,


Ashok Bhuta
Compliance Officer

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