Anybody following Zenotech Labs. They are a niche play in the biogenerics space and produce the blockbuster Neupogen. They have many other biogenerics in the pipe line and have equity investment by RJ and Ranbaxy. So it could be a takeover target (in fact there was an open offer also by the earlier promotors of ranbaxy) or a niche bio pharmaceutical play.

Its a biotech pharma research play, so historic roe/roce does not have much bearing as much as assets on hanrd, potential mkt size in regulated markets and so on. Real growth will come with Biogeneric markets opening up in the US and Europe, then this would be a niche player. The company has invested a lot of time and effort building the assets, but in the next 1-2 years is when value unlocking can happen. What do you think?

Management is not so good for this.. Also the space in which they are is quite complex. It is not going to be easy for them to reach US/EU any time in the next 5 years also. In India the competition is reasonably high in the products that they are making..
I will not like to bet on them.
In Indian pharma it is not preferable to bet on small/midcap companies unless sustainability of business can be ascertained.

The founder of the company is EX dr reddys. he is quite qualified, maverick kind of person. Most of the team also belonged to DRL which was poached when he left the company. There have been rumours that the technology is also poached and therefore you would see that there revenues etc have not been growing very well.
However they are very convincing people and have fooled Ranbaxy quite well. I remember that when this company was taken over by them, it was in Z group and went from one circuit to another  - up or down. they are not going to be players for substantial gains. I dont know how it will change with Daichi's entry but I am not interested in this one..