Shilpa Medicare Limited · NSE:SHILPAMED
Shilpa Medicare — Q1 FY2024 Earnings Presentation
29 slides from Shilpa Medicare's earnings presentation, Aug 11, 2023
Slide 1: Stock exchange cover letter for Investor Presentation
Shilpa Medicare Limited Corporate & Admin Office: “Shilpa House”, # 12-6-214/A-1, Hyderabad Road, Raichur – 584 135, Karnataka, India Tel: +91-8532-238704, Fax: +91-8532-238876 Email: info@vbshilpa.com, Web: www.vbshilpa.com CIN: L85110KA1987PLC008739 11 August 2023 Corporate Relationship Department
Slide 2: Shilpa Medicare Limited Q1 FY'24 Results Presentation
Shilpa Medicare Limited (SML) Q1 FY’24 Results Presentation 1
Slide 3: Disclaimer
2 Disclaimer Certain statements in this document may be forward-looking statements. Such forward looking statements are subject to certain risks and uncertainties like regulatory changes, local political or economic developments, and API Units, Raichur many other factors that could cause our actual
Slide 4: Table of content
Table of content 3 1 Company overview 2 Financial performance 3 Business highlights 4 Annexures
Slide 5: Company Overview
Company Overview 4
Slide 6: Company Overview
Company Overview 5 Pursuing niche growth businesses like Biologics, Transdermal & Oral Dissolving Films Formulations Established presence in Active Pharmaceutical Ingredients (APIs) and Formulations for Affordable & Robust research domestic & international markets Effective orientation resulting in
Slide 7: Managing Director's Message
Managing Director’s Message 6 Commenting on Q1 FY’24 performance, Mr. Vishnukant Bhutada, Managing Director Shilpa Medicare Limited said “I am pleased to inform you that our relentless efforts on bringing operational efficiencies and strengthening our business has resulted in us bouncing back to pro
Slide 8: Formulation update - Oncology
Formulation update - Oncology 7 o New Drug Application for Pemetrexed Injection 1000 mg/100 ml, 500 mg/50 ml & 100 mg/10 ml, Ready to Use formulation approved by US FDA First NDA product approval under 505(b)(2) application Unique formulation supplied as ready to use product solution Administe
Slide 9: Formulation update – Non Oncology
Formulation update – Non Oncology 8 o Shilpa Medicare’s SMLNUD07 enters into Phase III studies Received approval from CDSCO for proceeding further for Phase III studies of oral product SMLNUD07 Phase III studies have been initiated for the indication of NAFLD (Non-alcoholic fatty liver disease)
Slide 10: Formulation update – Oral Films and Patches
Formulation update – Oral Films and Patches 9 o First partnership deal inked with a Europe based company for Transdermal Patch (SMLTDP08) Product Development completed and pilot studies have also been completed Pivotal studies are planned in Q2/Q3 2023 Filed for EMA scientific advice for its s
Slide 11: Biosimilar update
Biosimilar update 10 o Approval of High Concentration Adalimumab injection in India market Received the Marketing Authorization permission for Adalimumab 40 mg/0.4mL injection in prefilled syringe (PFS), a biosimilar of Adalimumab higher concentration formulation (100mg/mL) in India Used for the
Slide 12: Financial Performance
Financial Performance 11
Slide 13: Financial Performance – SML Standalone
12 Financial Performance – SML Standalone (INR in Cr.) % % Particulars Q1 FY24 Q4 FY23 change Q1 FY23 change Revenues 104.5 86.8 20% 73.5 42% Gross Margin 85.1 61.5 38% 63.9 33% Gross Margin % 81% 71% 87% Employee Cost 27.8 26.3 6% 27.9 -1% Other Expenses 21.2 28.7 -26% 18.9 12% EBITDA 36.1 6.6 17.1
Slide 14: Balance Sheet – SML Standalone
Balance Sheet – SML Standalone 13 (INR in Cr.) Particulars 30-Jun-23 31-Mar-23 30-Jun-22 Fixed Assets 598.3 608.9 613.1 Tangible Assets 509.1 517.0 541.2 Intangible Assets 89.2 92.0 71.9 Capital WIP 230.5 226.4 242.9 Tangible Assets 38.7 41.8 53.0 Intangible Assets 191.8 184.6 189.8 Slump Sale Consi
Slide 15: Financial Performance Consolidated
Financial Performance Consolidated 14 (INR in Cr.) Particulars Q1 FY24 Q4 FY23 % change Q1 FY23 % change Revenues 262.1 265.7 -1% 269.3 -3% Gross Margin 174.2 176.3 -1% 165.3 5% Gross Margin % 66% 66% 61% Employee Cost 72.9 72.4 1% 72.9 Other Expenses 51.5 63.5 -19% 63.8 -19% EBITDA 49.9 40.4 23% 28
Slide 16: Balance Sheet Consolidated
Balance Sheet Consolidated 15 Consolidated Particulars 30-Jun-23 31-Mar-23 30-Jun-22 Fixed Assets 1,371.6 1,368.3 1,372.9 Tangible Assets 1,163.7 1,179.5 1,201.2 Intangible Assets 208.0 188.9 171.6 Capital WIP 657.0 655.3 515.3 Tangible Assets 374.9 358.0 231.0 Intangible Assets 282.2 297.3 284.3 Ot
Slide 17: Business Highlights
Business Highlights 16
Slide 18: Q1 FY'24 Consolidated Performance
Q1 FY’24 Consolidated Performance 17 (INR in Cr.) Revenue EBIDTA 24% 74% -1% -3% 49.9 269.3 40.4 266 28.7 262.1 Q4 FY'23 Q1 FY'24 Q1 FY'23 Q4 FY'23 Q1 FY'24 Q1 FY'24 5.0 PBT* PAT 1.2 2.3 Q4 FY'23 Q1 FY'24 Q1 FY'23 -8.1 Q4 FY'23 Q1 FY'24 Q1 FY'23 -3.0 -3.3 *Before share of loss in associates/JV’s
Slide 19: Consolidated Revenue Break-up – Q1 FY'24
Consolidated Revenue Break-up – Q1 FY’24 18 (INR in Cr.) Q4 FY’23 Q1 FY’24 Q1 FY’23 INR 266 Cr. INR 262.1 Cr. INR 269.3 Cr. Degrowth of -3% vs Q1 FY’23 API 22.1, 8% 12.2 , 4% 4.8, 2% Formulatio n 68.8 , 26% 56.1 , 21% 91.8 , 35% 165.6 , 63% 187.2 , 71% 188.3 , 70% Degrowth of -1.5% vs Q4 FY’23
Slide 20: API Business
API Business | noting affordable healthcare
Slide 21: API Business-Highlights Q1 FY'24
API Business-Highlights Q1 FY’24 20 (INR in Cr.) Oncology CDMO/Service -5% -2% 118% -18% 8.5 8.3 98.7 84.6 80.6 3.8 Q4 FY'23 Q1 FY'24 Q1 FY'23 Q4 FY'23 Q1 FY'24 Q1 FY'23 Q4 FY’23 Degrowth Q1 FY’24 Degrowth Q1 FY’23 Non Oncology 187.3 12% 165.6 12% 188.3 Others -14% -59% -87% 30% 84.4 30.0 72.7 55.8
Slide 22: DMF Filing update
DMF Filing update 21 New product introduction and increase in geographical coverage replicated with 232 number of DMF filings done with major regulatory authorities 60 51 50 45 40 35 30 21 20 20 17 12 12 10 10 7 2 0 US FDA EU/ EMEA GCC / ROW MFDS TPD-Canada TGA CHINA PMD RUSSIA MEDSAFE WHO As on 30-
Slide 23: Formulation Business
22 Formulation Business
Slide 24: Formulation Business-Highlights Q1 FY'24
Formulation Business-Highlights Q1 FY’24 23 (INR in Cr.) Europe License Fees/ ROW 22% PDC 264% 211% -38% -28% 53.1 1050% 37.4 3.7 22.0 26.8 14.6 17.1 2.3 0.2 Q4 FY'23 Q1 FY'24 Q1 FY'23 Q4 FY'23 Q1 FY'24 Q1 FY'23 Q4 FY'23 Q1 FY'24 Q1 FY'23 US Domestic -69% -65% Q4 FY’23 Growth Q1 FY’24 Growth 83% Q1
Slide 25: Regulatory Filings
Regulatory Filings 24 Robust regulatory filings to strength the base for growth in the formulation segment Approved Pending 444 31 26 243 10 12 21 201 14 3 1 2 US ANDA (SML) US NDA (SML) EU Filings ROW As on 30-Jun-23
Slide 26: Annexures
Annexures 25
Slide 27: Manufacturing Excellence
Manufacturing Excellence 26 Dharwad Jadcherla Unit • Biologicals Manufacturing plant & R&D • Formulations (Onco & Adjuvant Therapy of Facility Onco – Injectable & Oral) Bengaluru Unit Hyderabad • Formulations (Oral Dissolving Films) • TDS & ODF Manufacturing Facility & • Bio Analytical Lab, Pharmaco
Slide 28: About Shilpa Medicare Ltd.
About Shilpa Medicare Ltd. 27 Shilpa Medicare Limited (SML) started its operations as API manufacturer way back in 1989 at Raichur, Karnataka- India. Today Shilpa Medicare Limited is a global brand in manufacturing and supplying of affordable API and Formulation globally in different regulated marke
Slide 29: Thank You
28 Thank You