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July 29, 2015

originally posted on July 29, 2008. Updated July 2015.


Day 211.

The kids and I went to the "good" library over the weekend and I checked out a bunch of cookbooks. One of the books was put out by Cook's Illustrated, and was called The Complete Book of Poultry.

There are probably a good five hundred recipes in this book, but narrowing down what I was going to attempt first was rather easy---I
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July 29, 2015
superhuman-power-man-lifting-car-one-hand

 With so many superhero movies around, such as X-Men, Spiderman or Hulk, we are used to see people with special abilities in fiction. But people with amazing abilities actually do exist in real life; The people in this video possessed abilities that defy physics and normal human nature.

1,Isao Machii Super Samurai - was born in August 20, 1973) he is a Japanese Iaido master He holds a number of Guinness World Records for his sword skills, including "Most martial arts sword cuts to one mat Fastest 1,000 martial arts sword cuts .Most sword cuts to straw mats in three minutes and Fastest tennis ball (708 km/h) cut by sword.
2, The Rubberboy (Daniel Browning Smith)
Smith was born and raised in Meridian, Mississippi.Daniel Browning Smith, also known as The Rubberboy, is an American contortionist, actor, television host, comedian, sports entertainer, and stuntman, who holds the title of the most flexible person in history, owning a total of seven 7 Guinness World Records.
3,King Tooth (Rathakrishnan Velu)
Rathakrishnan Velu A Malaysian nicknamed "King Tooth" he used his teeth to pull a seven-coach train using a steel rope clenched in his mouth with a total of weight of 297.1 tonne train over 2.8 metres (9 feet, 2.2 inches) along tracks.at Kuala Lumpur Railway Station

4,X-Ray Vision
Natasha Demkina girl from Saransk, Russia, who claims to have X-ray-like vision that lets her see inside human bodies. And she uses this vision to make medical diagnoses that, she claims, are often more accurate than those of doctors. Widely hailed in Russia as “the girl with X-ray eyes,”
5, Electro-Man
Raj Mohan Nair HIGH VOLTAGE HUMAN CONDUCTOR FROM INDIA . as Raj has come to be known all around the world has an amazing super-power. Just a small amount of electricity can be fatal to most humans, but this man can conduct several amps and survive unscathed. There’s nothing super-human about his looks, but connected to an electrical power source, Raj Mohan Nair can do extraordinary things. He doesn’t shoot lightning bolts from his hands or anything, but he can power up a light bulb or an electric blender by grabbing two live wires and allowing massive amounts of current to pass through his body.

6, Photographic Memory: Stephen Wiltshire
Stephen was born in London in 1974 and was mute as a result of autism until age five. Unable to communicate verbally, he turned to other outlets such as music and of course, drawing. As a youngster he drew everything from animals to people but by the time he was eight, he had already found his niche for drawing buildings, according to his sister, Annette. Today, Stephen is a one-of-a-kind landscape artist, having depicted prominent cityscapes such as New York, Tokyo and Rome from pure memory.

7. Eagle Vision :Veronica Seider
Veronica Seider holds the world record for being able to see the smallest object without assistance from technology.
In 1972 the University of Stuttgart, in then West Germany, reported that one of their students; Veronica Seider had a visual acuity 20 times better than average person. For example she could identify people at a distance of more than a mile away (1.6 km).
The typical person would need a set of binoculars to be able to accurately accomplish that.

8,Masutatsu Oyama: Can kill a bull with one blow
Mas Oyama, the founder of the Kyokushin karate style of full-contact,he started his personal quest to become a one-man human abattoir while growing up in Korea in the 1930s. Mas Oyama is a martial arts master who became famous for killing bulls by punching them in the face.

9. Wim Hof THE ICEMAN
Wim Hof (born 20 April 1959) is a Dutch world record holder, commonly nicknamed the Iceman for his ability to withstand extreme cold Hof holds twenty world records including a world record for longest ice bath.[2] He broke his previous world record by staying immersed in ice for 1 hour, 13 minutes and 48 seconds at Guinness World Records 2008 mental state.Wim describes his ability to withstand extreme cold temperatures as being able to "turn his own thermostat up" by using his mind.

10. Ben Underwood Sees through sound sensing echoes
echolocation is the ability of humans to detect objects in their environment by sensing echoes from those objects. By actively creating sounds  Ben Underwood - One of the most proficient echolocators.Diagnosed with retinal cancer at the age of two, American Ben Underwood had his eyes removed at the age of three.He was taught echolocation at the age of five from Daniel Kish as one of his students. He was able to detect the location of objects by making frequent clicking noises with his tongue. This case was explained in 20/20:medical mysteries. He used it to accomplish such feats as running, playing basketball, riding a bicycle, rollerblading, playing football, and skateboarding. Ben's child eye doctor claimed that Underwood was one of the most proficient human echolocators.Underwood died on January 19, 2009 at the age of 16, from the same cancer that took his vision.watch on youtube-https://www.youtube.com
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July 29, 2015

There is much controversy associated with the existence of CHAKRAS. Many consider them to be a theory with no real backbone. Some believe they are the source of our well being. And others even believe they are the key to enable our spiritual connection to the Universe.

So what are the Chakras?

Chakras were first described in the Hindu Scriptures (The Vedas) thousands of years ago, and literally means ‘wheels‘ of energy. They predominantly deal with energy flow in the body and are said to be focussed areas (or vortices) of high, expansive energy, within multiple locations in the body.
There are thought to be 114 Chakras within the body in total, but 7 main Chakras spanning from the base of the spine to the crown of the head, and are considered to follow the curvature of the spine.
Connected to these Chakras, there are said to be Nadis (literally translates to RIVERS in Sanskrit). These Nadis are considered to be the vessels through which energy flows, from the chakras to the rest of the body.
‘Everything is Energy’. This is a widely accepted theory in Quantum Physics and a scientifically proven fact.  In religion and spirituality, the movement of energy is the central, and fundamental, core around which many traditions are based. Ancient practices such as Reiki, QiGong and Tai Chi focus on the manipulation of energy to achieve well being.
We like to think of space as empty and matter as solid. But in fact there is nothing to matter when you look at it at a subatomic level, most of what is contained within an atom for example is 99.9% space. It is mostly unsubstantial.
Everything connects via magnetic energy and is electrical energy.
All matter is held together via energetic bonds and consist of these atoms, of which most, is space. The movement of energy is vital to life. When we think, breathe, function or even when we are resting, electrical energy is flowing through our bodies via our neurones and nerve pathways.
The position of the major chakras correspond to the major nerve plexus’ or nerve ‘bundles’.

Now for some Biology:
By far, the most energetic processes within our bodies are caused by our nerve tissues and specifically our nervous system. The nervous system is that part of our body, that coordinates its voluntary and involuntary actions, and transmits signals to and from different parts of the body and brain. The ‘communication‘ of the body, if you will.
The nervous system is composed of two main parts:
The Central Nervous System (CNS) within the brain and spinal cord, and
The Peripheral Nervous System (PNS) ,which connects the brain and spinal cord to the rest of the body, via little ‘river‘ like nerve fibres (Nadis!). This system is what correlates with the chakras.
There are different categories of nerve bundles within the PNS, but the most relevant to the Chakras is the AUTONOMIC nervous system of the PNS. This deals with the involuntary or automatic responses within the body. For example – digestion; our heart rate, sneezing, swallowing and breathing. All these processes are regulated by the hypothalamus.
The Autonomic Nervous System is further divided into the Sympathetic Nervous System (activated in emergencies to move energy, the ‘fight and flight’ responses) and the Parasympathetic Nervous system (activated when ‘resting and digesting’).
It is the Parasympathetic Nervous System (part of the automatic nerve response system) which has the greatest relevance to the areas where the Chakras are thought to be located.

The diagram above shows where these  major nerve plexus’ (or networks) of the Parasympathetic Nervous System lie. The brain actually connects to these parts of the body via the ‘big-dog’ of the nervous system – the big, fat, juicy,  VAGUS nerve – the 10th cranial nerve (cranial meaning, out of the cranium/skull).
The Vagus nerve is considered the ‘Holy Grail’ of all nerves. Where the major networks of nerves are, they correspond with the glandsin our bodies – So I guess the question to ask is – why do glands require so much electrical input?
The diagram below shows the position of the various Chakras. Notice how they correlate to the above diagram:

As mentioned above, these nerve ‘bundles’ are associated with major GLANDS in our body. Glands secrete hormones into the bloodstream and are HUGELY important in the functioning of our bodies, more so than what a lot of people realize!
Hormones are critical players in the body’s chemistry and stimulated by the Vagus nerve.
They (as well as nerves) carry messages between cells and organs and affect many aspects of our bodily processes, from growth through childhood, sexual development, mood, to how well we sleep, how we manage stress, brain functioning and even how we break down food.
In fact, the gradual decrease in hormone production over time, is what leads to the aging process!
Other hormones, such as DMT (Dimethyltryptamine), secreted by the pineal gland in the brain, is known to cause Out of Body Experience, heightened creativity and even psychic abilities!
The Biology in a nutshell:
The Chakras are associated with the major nerve networks within the body, which connect from the brain/spine, via the major Vagus nerve, to the glands responsible for hormone production and the functioning of the body in general.
THE VAGUS NERVE and KUNDALINI:
The Vagus nerve is considered the ‘holy grail’ of the nervous system and it mostly conveys sensory information about the state of the body’s organs to the Central Nervous System. Once it leaves the brain it winds its way down the body, and around the internal organs.
One key role that the Vagus nerve plays, is as the ‘reset’ button, to counteract our internal, automatic, ‘alarm’ system, resulting in the fight and flight response – a key culprit in stress and depression. Therefore stimulation of the Vagus nerve may lead to some very positive health benefits, especially in a society which is suffering from the effects of subconscious fear (fear of stability, the status of our jobs, terrorist attacks, money, and so on and so forth!)
The Kundalini Serpent
The Kundalini is the ancient description for the energy (or shakti) present within our bodies. It is said that the kundalini stems from the base of the spine and winds its way up to the top of the head, and is often compared to a snake or a serpent.
‘Kundalini awakening’ is said to result in deep meditation, enlightenment and deep sense of bliss. It is said that this Kundalini ‘snake’ coils 3 times as it travels up the spine. Guess what – The Vagus nerve connects precisely 3 times to the spine!
Although the ancient descriptions are considered a little far fetched, it appears perhaps they used metaphors for very accurate information related to our wellbeing. It sounds like the ancients were on to something!
There are over 13000 studies on the Vagus nerve, and it is well documented that Vagus Nerve Stimulation can assist in a multitude of illnesses, such as treatment-resistant Depression and certain forms of Epilepsy. The great news is that the most effective, natural method for stimulating the vagus nerve is deep belly breathing (also known as Pranayama in ancient Indian culture), meditation and exercise. (Sounds a lot like Yoga – don’t you think?)
Quantum Physics has already proven that observation affects matter. (See the article on this HERE). Since all of matter is energy organised in a particular arrangement, perhaps the ancient traditions of observing your thoughts, or placing your attention and awareness on the Chakras, bears real weight! Especially when it comes to creating real changes within the body.
source -spiritscience
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July 27, 2015
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July 26, 2015

Issue Highlights

Price Band
Rs. 240-250
Issue Period
27/7/15-29/7/15
Issue Type
100% Book Built Issue
Issue Size (Quantity)
2,20,00,000 Equity Shares
Issue Size (Amount)
Rs. 528-550 Crore
Face Value
Rs. 10
Min Bid Quantity
60 Equity Shares
Maximum Retail Subscription  Amount
Rs. 1,95,000 (13 Lots)
Industry
CRO
Registrar
Karvy Computershare Pvt. Ltd.
Listing
BSE, NSE

Issue Details


·         Issue being an offer for sale by the parent company Biocon Ltd. , Syngene shall not receive any proceeds from the offer
·         The offer shall constitute 11% of post issue equity share capital
·         Outstanding equity shares prior to the offer:20,00,00,000
·         Outstanding equity shares after the offer: 20,00,00,000

·         Offer for Sale: 2,20,00,000 Equity shares
·         QIB Qualified Institutional Bidders): 1,00,00,000 Equity shares
·         NII (Non Institutional Investors) : at least 30,00,000 shares
·         RII (Retail Individual Investors) : at least 70,00,000 shares
·         For Biocon Shareholders: 20,00,000 shares

Anchor Investors

The company has allocated 60,00,000 shares to 13 anchor investors including a prime few like Monetary Authority of Singapore, Government of Singapore, Goldman Sachs India Fund Ltd., DB International (Asia) Ltd. Etc at the price of Rs. 250 per share.

Objects of the Issue
      (1)   To avail the listing benefits
      (2)   To enhance the brand image among clients and to provide liquidity to existing share holders
       N B: issue expenses shall be borne by the selling shareholder

Industry Profile

CRO companies provide outsourced research services to sectors like pharmaceutical, bio-technology, medical device industry etc on contract basis. Due to the rising outsourcing of R&D activities, CRO industry is increasing at a CAGR of 12.5%.The global CRO market is presently worth 14.7 billion USD and is expected to become 22.7 billion USD by 2018.
CRO service providers compete in various segments like NME Discovery, Development and Manufacturing. Under NME Discovery, promising molecules are identified from a broader range of compounds while in Development stage, preclinical (on animals) and clinical tests (on humans in gradual phases) are conducted. Manufacturing segment pertains to the manufacturing of selected molecules.
So far many MNC companies opted for the outsourcing of their discovery & development work to reduce their R&D expenditure but with the evolution of the CRO industry, it is no longer only a cost arbitrage aspect but also an enhanced R&D and time reduction aspect too.

Company Profile

Syngene is a subsidiary of Biocon-the global biopharmaceutical enterprise holding 72.6 % post-issue equity share capital of Syngene. Syngene was incorporated in 1993 at Bengaluru. Syngene is one of the leading domestic CRO (Contract Research Organization) companies of Asia, providing a suit of discovery and development services for NME (Novel Molecular Entities) to pharmaceutical, biotechnology, consumer health care, animal health, agrochemical, cosmetics and nutrition companies.
Syngene is an experienced player of the industry with a proven track of operations and it provides services through flexible business models like FTE (Full Time Equivalent), FFS (Fee for Service) and a combination of the two.
Syngene’s laboratory and manufacturing facilities are spread over a sprawling area of 9,00,000 square ft. in Bangalore and it currently employs around 2,100 scientists.
During the first nine months of FY 15, Syngene served 195 clients including top 10 global pharmaceutical companies (by sales) like BMS, Baxter, Merck etc.
On the date of filing DRHP, Silver Leaf Oak Mauritius (SLO) had 2, 00, 00,000 shares (10 % of the capital) acquired at the cost of Rs. 190 per share.


Risk Factors:

      (1)   Contracts received by the company could  be terminated on short notice periods and as these terminations reduce the resource utilization, the same may  affect the profitability negatively
      (2)   Unfavorable economic conditions or government regulations resulting in a reduction in the R&D outlay of client companies could have an adverse effect on Syngene’s profitability
      (3)   Syngene draws its service revenue from a concentrated clientele and its largest client-Bristol contributed to the tune of 32.2 % (9 months FY 15) while the top-ten clients contributed for around 72 % of the service revenue.
Small client- base enhances the risk of business loss in case one or more clients parting their ways with the company.
      (4)   To match the compliance of the US FDA and maintaining the essential standards is a requisite and failing to which could materially adverse the revenue base of the company
      (5)   Health care reforms in the USA shall be negative for Syngene, as such reforms might reduce the profitability of its client and finally resulting in a business loss for Syngene

Tax Benefits

Presently, Syngene is availing a deduction of 50 % of the eligible profit from exports of goods/services from its units set up in SEZ (Special Economic Zone)

Depreciation Benefits

Syngene is entitled to an additional depreciation @20% of the actual cost of new plant and machinery

Financial Profile **

































Parameter
FY 15 Value
P/E #
31.5
P/B
6.4
PEG Profit (5 Year) # @
.8
OPM (%)
23.9
NPM (%)
19.4
ROCE (% )#
22.6
ROE (%) #
20.2
Total Liab/ Networth
.6
TIE
19.7
AR Collection Period #
51.6
Current ratio
1.2
EBITDA Margin (%)
33.5
Inventory Days
50
M-cap/Sales #
6.1
ROIC (%) #
26.85
Revenue CAGR (%) 3 year @ #
25.33
Profit CAGR (%)  3 year @ #
30.77
EV/EBITDA #
19.3

# Annualized Data
@ On April 1, 2014, Syngene’s subsidiary Clinigene International Limited –through which clinical research and clinical trial services were being provided- got merged with Syngene.
** Calculations at upper price of Rs. 250

Competition with Peers ###

Though there is no near comparable peer to this company but for the sake of comparison we may compare it to the Chinese research company -WuXi PharmaTech.
Parameter
Syngene
Wuxi Pharma
PEG 5 Year #
.8
2.07
Price/Book
6.4
3.78
EV/EBITDA #
19.3
20.04
Profit CAGR % ( 3 Year) #
30.77
11.46
NPM %
19.4
16.63 %

### Peer data from Yahoo finance and Google finance

Inference

The M-cap this issue after the listing will be Rs. 5,000 crore- almost an half of its parent company Biocon Limited’s M-Cap of Rs. 9,323 crore. Biocon plans to demerge Syngene in near future to fund the development of Syngene’s own products. After this issue, Biocon’s stake in the company shall reduce to 74.5 % from the present 85.5 %.
Valuations are not at all cheap and promoters are charging a lucrative premium for its robust business model and the future growth potential. The issue is priced at a premium of around 32 % over the price at which 10 % stake was sold to SLO Mauritius on September 19, 2014.
Companies like Syngene get their business from MNC drug companies which are desirous of keeping their R&D expenditure under control as the same requires a significant investment in the infrastructural setup.
With the initial euphoria settling down, Syngene share may not give stupendous returns in the short run owing to its stretched valuations, but in the long term its prospects are bright.
I shall subscribe to this issue.

  
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