“When you love blindly, even flaws seem like virtues.” → When you deeply like or love someone, you may ignore their weaknesses. Their mistakes or shortcomings may even appear charming, acceptable, or even “good” to you. For example, if someone is stubborn, you might call it “determined” because you love them.
“When your dislike is intense, even virtues seem like flaws.” → On the other hand, if you dislike someone, even their positive qualities can appear negative. For instance, if someone is confident, you might see them as arrogant—simply because your attitude toward them is negative.
“Mend Your Attitude” → The key message is that it’s not always the person who is truly good or bad—it’s often our own perspective that is biased. By adjusting your attitude (removing the “blinding” effects of love or dislike), you can see people more clearly and fairly.
Posted: 07 Mar 2025
SUN PHARMA ADVANCED RESEARCH COMPANY LIMITED (SPARC) March 05, 2025 Rating Downgraded. Acuit has downgraded its long-term rating to ACUITE AA- (read as ACUITE double A minus) from ACUITE AA (read as ACUITE double A)on the Rs. 200.00 Cr. bank facilities of Sun Pharma Advanced Research Company Limited (SPARC). The outlook is 'Stable'. Rationale for the rating downgrade The rating downgrade reflects deterioration in the operating performance of SPARC by way of decline in license fees, royalty income and setback failure of Proseek study. However, the rating draws strength from SPARCs experienced management, comfortable R&D pipeline and parent support from Shanghvi Finance Private Limited (SFPL) in the form of corporate guarantee and financial support. SPARC is a part of the Sun Pharma Group (SPG) headed by Mr. Dilip Shanghvi. Mr. Shanghvi also holds directorship position in SPARC. The rating also draws comfort from business synergies SPARC has with Sun Pharmaceutical Industries Limited (SPIL) flagship of SPG. The above-mentioned strengths are also partly offset by long gestation periods and capital-intensive nature of drug research and development process, Continued support from promoters, timely commercialization of key products under development and further deterioration in the operating performance or regulatory setback would remain key rating sensitivity factors for SPARC. About the Company SPARC with its corporate office in Mumbai is a clinical stage bio-pharmaceutical company and is part of the Sun Pharma Group. It was incorporated in 2006 when the innovative product group was carved out of Sun Pharmaceutical Industries Limited (SPIL). It is primarily engaged in pharmaceutical research and development activity and earn its revenue from license fee / royalty on technology / R&D services. It undertakes research in the field of Oncology, Neuro Degeneration, Ophthalmology and Dermatology. It has its office in Mumbai (India) and New Jersey (USA) along with R&D centers at Mumbai and Vadodara (India). Mr. Dilip Shanghvi is the Chairman of the entity and Mr. Anil Raghavan is the CEO. The promoters of the company hold 65.67 percent in SPARC which includes Shanghvi Finance Private Limited (SFPL) with 42.28 percent, Mr. Dilip Shantilal Shanghvi with 19.05 percent and the rest are from other family members as on 31st December 2024. SFPL is also the holding company for SGs flagship company Sun Pharmaceutical Industries Limited (SPIL) and SFPL currently holds ~40 percent in SPIL as on 31st December 2024. About Shanghvi Finance Private Limited Shanghvi Finance Private Limited (SFPL) is an investing company of the promoter family. It has been listed as promoter entity as per the disclosures on the stock exchange. SFPL currently holds 40.30 per cent of the total shareholding of Sun Pharma Industries Limited (SPIL) as on 31 st December, 2024 and also holds 42.28 per cent in SPARC as on 31st December 2024. The rated bank facilities of SPARC have been secured by corporate guarantee of SFPL.
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Be prepared to invest in a down market and to "get out" in a soaring market, as per the philosophy of Warren Buffett.