Morepen Laboratories Limited · NSE:MOREPENLAB

Morepen Laboratories — Q3 FY2024 Earnings Presentation

29 slides from Morepen Laboratories's earnings presentation, Jan 31, 2024

  1. Slide 1: Exchange filing cover letter

    Date: 31/01/2024 To, National Stock Exchange of India Ltd. BSE Limited Exchange Plaza, Bandra Kurla Complex, Phiroze Jeejeebhoy Towers, Bandra (East), Mumbai- 400 051 Dalal Street, Mumbai- 400 001 Symbol: MOREPENLAB Scrip Code: 500288 Subject: Earnings Presentation (Q3’ FY24) - Jan 2024 Dear Sir/ Ma

  2. Slide 2: Q3'FY24 Earnings Presentation - Jan 2024

    MOREPEN LABORATORIES LIMITED Q3'FY24 earnings Presentation - jan 2024

  3. Slide 3: Disclaimer/ Confidentiality

    Disclaimer/ Confidentiality This presentation has been prepared by Morepen Laboratories Limited (“Company”) solely for information purposes without regard to any specific objectives, financial situations or informational needs of any particular person. This presentation contains expressed or implied

  4. Slide 4: Quarterly Highlights

    CONSOLIDATED Q3'FY24 HIGHLIGHTS QUARTERLY HIGHLIGHTS Rs. in crores Rs. in crores ^28% ^151% ^256% Net Revenue EBItdA 349.69 448.62 21.74 54.64 Profit AFTER Tax 8.99 31.99 ^214% ^256% Profit BEFORE Tax EPS 14.00 44.02 Re. 0.18 Re. 0.63 Q3'FY23 Q3'FY24 eBIDTA %age 6.22% 12.18% Q3'FY23 Q3'FY24 Q3'FY23

  5. Slide 5: 9 Months Highlights

    CONSOLIDATED 9M'FY24 HIGHLIGHTS 9 MONTHS HIGHLIGHTS Rs. in crores Rs. in crores ^21% ^79% ^123% Net Revenue EBItdA 1056.86 1277.09 66.99 119.97 Profit AFTER Tax 30.43 67.88 ^109% ^123% Profit BEFORE Tax EPS 44.62 93.21 Re.0.60 Rs.1.33 Q3'FY23 Q3'FY24 eBIDTA %age 6.34% 9.39% Q3'FY23 Q3'FY24 Q3'FY23 Q

  6. Slide 6: Quarterly Highlights

    QUARTERLY HIGHLIGHTS • Q3'FY24 Revenue at Rs. 449 crores is up by 28% on y-o-y basis. 9M revenue of Rs. 1277 crores, is up 21%. • Domestic revenue for the Q3 at Rs. 271 crores are up by 27%. For 9M period, at Rs. 829 Crores, revenue growth is at 30%. • API total revenue at Rs. 253 Crores for Q3 is u

  7. Slide 7: Quarterly Highlights

    QUARTERLY HIGHLIGHTS • EBITDA margins for Q3'FY24, has almost doubled to 12.18% from 6.22% on y-o-y basis. • EBITDA at Rs. 55 Crores is up by 151% for Q3'FY24 and 79% for 9M’FY24. PASSION ENERGY | DRIVE | COMMITMENT • Profit before Tax (PBT) at Rs. 44.02 Crores is up 214% in Q3 and 109% for 9M. ACTI

  8. Slide 8: Revenue Growth CAGR 19%

    CONSOLIDATED REVENUE GROWTH CAGR 19% (Rs. in crores) (Rs. in crores) 2,000 500 1557 28% 1,500 1422 1277 400 449 YOY 1200 350 1057 21% 300 1,000 y0y 863 9M 200 500 100 0 FY'20 FY'21 FY'22 FY'23 9M'FY24 0 Q3'FY23 Q3'FY24 Annual performance QUARTERLY performance 11\0~EPEil .- ,. JlOREPEN >rooof Excefle

  9. Slide 9: Business Segments

    CONSOLIDATED BUSINESS SEGMENTS API MEDICAL DEVICES (BULK DRUGS) FORMULATIONS OVER THE COUNTER subsidiaries 11\0~EPEil . orepen® . } 'ror1of Excefle11ce ~

  10. Slide 10: Segments Wise Performance

    CONSOLIDATED- Q3 SEGMENTS WISE PERFORMANCE API DeviceS FORMULATIONS DR.MOREPEN -OTC growth contribution ^20% ^24% ^40% -3% Rx 23.1% 300 120 70 25 250 100 106.11 60 65.15 253.21 20 21.99 21.29 200 80 50 211.46 85.57 API 40 46.41 15 51.5% 150 60 30 10 100 40 20 Devices 50 20 5 25.3% 10 0 0 0 0 Q3'FY23

  11. Slide 11: API Revenues CAGR 20%

    API BUSINESS API REVENUES CAGR 20% (Rs. in crores) (Rs. in crores) 1,000 858 823 300 800 683 250 668 253 20% YOY 606 10 % 211 600 200 474 9M YoY 150 400 100 200 50 0 FY'20 FY'21 FY'22 FY'23 9M FY'24 0 Q3'FY23 Q3'FY24 Annual performance QUARTERLY performance 11\0~EPEil .- ,. JlOREPEN >rooof Excefle11

  12. Slide 12: Continent Wise Share

    api business CONTINENT WISE SHARE S. America 4.5% USA 17.9% MENA USA 12.1% 12.9% S. America 4.6% Europe India 18% Europe 32.7% 14.7% India 30.6% Asia 21.9% Asia 26.9% 12m’ FY23 9M' FY24 11\0~EPEil .- ,. >'rooof . • J Excefle11ce ~

  13. Slide 13: Key Growth Contributors

    api business KEY GROWTH CONTRIBUTORS FEXOFENADINE ROSUVASTATIN ^180%* ^80% ATORVASTATIN MONTELUKAST ^15% ^20% 11\0~EPEil .- ,. *with major growth coMING from US market with start of supplies for regulatory customers post uSFDA of the product >'rooof Excefle11ce ~ . • J

  14. Slide 14: Export Market Share

    api business EXPORT MARKET SHARE Jan-Dec 2023 Others 35% Morepen Morepen 65% Others 47% 47% 43% 43% 53% Others Morepen 57% 65% LORATADINE DESLORATADINE MONTELUKAST Morepen Morepen Morepen 16% 8% 18% 14% 8% 18% Others Others Others 84% 82% 92% 11\0~EPEil ATORVASTATIN ROSUVASTATIN FEXOFINADINE .- ,. >

  15. Slide 15: Intellectual Property

    api business INTELLECTUAL PROPERTY USA Europe Japan 147 26 11 patents US DMFs CEP korea China Taiwan Australia 8 190 44 china idls non-Us DMFs new products Brazil *** * _. L ;;,::n **EU-GMP* • 7 1 1 ~;; * * JAPAN ANVISA CillNANi\ilPA * *** 11\0~EPEil -;; ;. * 44 patents granted >'rooof Excefle11ce ~

  16. Slide 16: DMF Filings and Patents

    api business DMF FILINGS AND PATENTS DMFs • DESLORATADINE MONTELUKAST PATENTS GRANTED GMP APPROVAL GMP APPROVAL EMPAGLIFLOZIN PMDA, JAPAN ANVISA, BRASIL EDOXABAN Improved Process Process for FEXOFENADINE ROSUVASTATIN LORATADINE of Crystalline form LINAGLIPTIN TDMF APPROVED BY DMF DMF (AMORPHOUS) TAI

  17. Slide 17: New APIs Developed

    api business NEW APIs DEVELOPED BILASTINE IMEGLIMIN ANTI - HISTAMINIC anti - DIABIETIC TAPENTADOL TICAGRELOR opioid analgesic anti - PLATELET 11\0~EPEil -;;- . Note: These products are not offered for sale in any country where there is patent protection >'rooof Excefle11ce ~ • J

  18. Slide 18: Capacity Expansions

    api business CAPACITY EXPANSIONS 50KL 400KL NEW CAPACITY ADDED total API capacity 250 KL 12 MONTHS NEW CAPACITY planned timelines

  19. Slide 19: Devices Revenue CAGR 25%

    MEDICAL DEVICES DEVICES REVENUE CAGR 25% (Rs. in crores) (Rs. in crores) 500 120 419 106 400 100 24 % 354 YoY 327 115 86 300 287 37 % 80 YoY 257 60 200 9M 168 40 100 20 0 FY'20 FY'21 FY'22 FY'23 9M FY'24 0 Q3'FY23 Q3'FY24 Annual performance QUARTERLY performance 11\0~EPEil .- ,. JlOREPEN >rooof Exce

  20. Slide 20: Gluco Meter Revenue CAGR 29%

    POC MEDICAL DEVICES GLUCO METER REVENUE CAGR 29% (Rs. in crores) (Rs. in crores) 300 80 279 273 250 254 78 23 % YoY 37 % 63 60 200 200 YoY 92 180 9M 150 40 120 100 20 50 0 FY'20 FY'21 FY'22 FY'23 9M FY'24 0 Q3'FY23 Q3'FY24 Annual performance QUARTERLY performance 11\0~EPEil .- ,. JlOREPEN >rooof Exc

  21. Slide 21: Gluco Meter Installed CAGR 29%

    POC medical devices GLUCO METER INSTALLED CAGR 29% Million Meters 2.5 2.17 2.12 2 1.91 1.69 1.70 37 % 1.5 YoY 9M 11.23 MILLION 1.47 BILLION 0.98 1 satisfied customers strips sold so far 0.5 0 FY'20 FY'21 FY'22 FY'23 9M FY'24 million meter installed -- 11\0~EPEil .- ,. >rooof ~ ,,k, Excefle11ce ~

  22. Slide 22: BP Monitor Revenue CAGR 26%

    POC medical devices BP MONITOR REVENUE CAGR 26% Rs. in crores (Rs. in crores) 100 84 20 80 20 64 25% 63 60 58 15 16 20 y0y 45 41% 40 y0y 10 9M 29 20 5 0 FY'20 FY'21 FY'22 FY'23 9M FY'24 0 Q3'FY23 Q3'FY24 Annual performance QUARTERLY performance 11\0~EPEil 4 .. >rooof ~ ,,k, Excefle11ce ~

  23. Slide 23: Formulation Revenue CAGR 10%

    FORMULATION CAGR 10% REVENUE Rs. in crores (Rs. in crores) 200 185 169 166 70 150 138 131 136 60 65 40% y0y 9M 22% 50 y0y 50 100 40 46 30 50 20 0 10 FY'20 FY'21 FY'22 FY'23 9M FY'24 0 Q3'FY23 Q3'FY24 Annual performance QUARTERLY performance 11\0~EPEil .- ,. >rooof ~ ,,k, Excefle11ce ~

  24. Slide 24: Formulations Growth Drivers

    FORMULATIONS GROWTH DRIVERS GROWTH DRIVERS ^7% ^196% ^15% BRANDED-RX Institutional GENERICS 33.42 35.87 10.86 32.14 75.42 86.32 9M'FY23 9M'FY24 9M'FY23 9M'FY24 9M'FY23 9M'FY24 11\0~EPEil .- ,. >'rooof . 0 J Excefle11ce ~

  25. Slide 25: Gross Revenue CAGR 13%

    CAGR 13% GROSS REVENUE Rs. in crores (Rs. in crores) 120 106 25 100 93 86 80 71 20 22 21 69 -3% 65 23 y0y 60 9M 15 -3% 40 y0y 10 20 5 0 FY'20 FY'21 FY'22 FY'23 9M FY'24 0 Q3'FY23 Q3'FY24 Annual performance QUARTERLY performance 11\0~EPEil .- ,. >rooof ~ ,,k, Excefle11ce ~

  26. Slide 26: Growth Drivers

    GROWTH DRIVERS ^5% ^21% General Health LEMOLATE -20% ^10% Online sales OTHERS 11\0~EPEil . } 'ror1of Excefle11ce ~

  27. Slide 27: Financial Highlights Q3'FY24

    FINANCIAL HIGHLIGHTS CONSOLIDATED-Q3'Fy24 (Rs. in crores) net revenue EBIDTA PROFIT BEFORE TAX PROFIT AFTER TAX ^28% ^151% ^ 214% ^256% 35 500 60 50 30 31.99 448.62 50 54.64 40 44.02 400 25 40 300 349.69 30 20 30 15 200 20 20 10 21.74 10 14.00 100 10 5 8.99 0 0 0 0 Q3'FY23 Q3'FY24 Q3'FY23 Q3'FY24 Q3

  28. Slide 28: Financial Highlights 9M'FY24

    FINANCIAL HIGHLIGHTS CONSOLIDATED- 9M'FY24 (Rs. in crores) net revenue EBIDTA PROFIT BEFORE TAX PROFIT AFTER TAX ^21% ^79% ^ 109% ^123% 120 100 70 1,400 119.97 100 93.21 60 67.88 1,200 80 1277.09 80 50 1,000 60 1056.86 60 40 800 66.99 30 600 40 40 44.62 20 30.43 400 20 20 10 200 0 0 0 0 9M FY'23 9M

  29. Slide 29: Thank you

    Thank you excellence | passion | Action | innovation

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