Morepen Laboratories Limited · NSE:MOREPENLAB
Morepen Laboratories — Q1 FY2025 Earnings Presentation
28 slides from Morepen Laboratories's earnings presentation, Aug 12, 2024
Slide 1: Stock exchange cover letter for Investors Presentation Q1 FY25
August 12, 2024 To, National Stock Exchange of India Ltd. BSE Limited Exchange Plaza, Bandra Kurla Complex, Floor 25, Phiroze Jeejeebhoy Towers, Bandra (East), Mumbai- 400 051 Dalal Street, Mumbai- 400 001 Symbol: MOREPENLAB Scrip Code: 500288 Subject: Investors Presentation (Q1’FY25) August, 2024 D
Slide 2: Leading Player in Medical Devices and APIs Q1'FY25
Leading Player in Q1'FY25 Medical Devices and APIs investor Presentation - aug 2024 MOREPEN LABORATORIES LIMITED
Slide 3: Safe Harbour
This investor presentation has been prepared for general information purposes in respect of Morepen Laboratories Limited (“Company”) together with its subsidiary, as applicable (together, with the Company, the “Group”) only, without regard to any specific objectives, suitability, financial situation
Slide 4: Core Values: Passion, Action, Innovation
CoreValues EXCELLENCE 1 Passion 2 Action 3 Innovation
Slide 5: Index
INDEX 1 Corporate Action 2 Consolidated View 3 Business Segments 4 Financial Overview
Slide 6: Capital Event: QIP oversubscribed 1.68 times
1 Corporate Action 10.6% Institutional holding, up from Capital Event: QIP was oversubscribed by 1.68 times, successfully completed on Aug 5, 2024 4.19% before QIP Eminent Global Investors: Bank of America Securities Europe (BOFA) Samsung India Securities Rs.200 crore Capex & WC Citigroup, Mauritius
Slide 7: Impact of the Fundraise: QIP
1 Corporate Action 61.5% of the QIP fundraise is allocated Impact of the Fundraise: to building additional capacities Objectives of the Issue: The fundraise specifically aims to advance the Present Proposed Issue Exp Capex-Devices rapid growth of the business Million pa 5% 21% 2.5 Primary focus is t
Slide 8: Impact of the Fundraise: shareholding pattern
1 Corporate Action 3-4% Expected increase in EBITDA with Impact of the Fundraise: additional investments Strategic Goals & Objectives: Expected Financial Impact: With this fundraise, the company can The new capacities and additional working clearly focus on the two growth engines - capital will help
Slide 9: Index: Consolidated View
INDEX 2 Consolidated View Outstanding Performance Medical Devices and APIs
Slide 10: Quarterly Highlights: Outstanding Performance in Q1'FY25
2 Consolidated Rs. 2.30 Earnings Per Share (EPS) for the Quarterly Highlights: Outstanding Performance in Q1'FY25 Trailing Twelve Months (TTM) Gross revenue up 13.7% from Rs 403.46 in Q1'FY24 to Rs.458.64 cr in Q1'FY25 14% 93% Gross margin contributions jumped 26% with increased revenue. Current qua
Slide 11: Business Segments: Consolidated Revenue of Rs. 458.64 cr
2 Consolidated 30.2% Q1 revenue share from Medical Devices as compared to 28% in FY24 Business Segments: Consolidated Revenue of Rs. 458.64 cr, up 13.68% Devices 11% 20% 30.2% Q1 320 Rs. in Crores 138 Rs. in Crores Pharma Pharma Business Medical Devices 69.8% API, Finished Dosages and OTC Home Devic
Slide 12: Operational Performance: Revenue
2 Consolidated 31% Growth in export business with Operational Perfomance: more focus on high-value drugs Annual Revenue Quarterly Revenue 14% increase in Q1 revenue year- Rs. in Crores Rs. in Crores over-year and 7% increase compared to Q4 FY24 2000 1704 500 459 403 427 1424 20% 400 14% This quarter
Slide 13: Operational Performance: EBITDA, PAT and cash generation
2 Consolidated 93% Increase in EBITDA with higher Operational Perfomance: revenues & improved gross margins Quarterly EBITDA Quarterly PAT Rs. in Crores Rs. in Crores Cash 60 Generation - Pre Tax 52.62 55.05 40 36.17 50 93% 147% YOY 28.74 30 yoy 53.89 40 60 91% 30 28.51 50 20 14.63 40 20 30 28.23 10
Slide 14: Index: Business Segments
INDEX 3 Business Segments Category Leader in Medical Devices and APIs
Slide 15: Category Leader in Medical Devices
Business Segments 3 Medical Devices 96% Business comes from Glucometers Category Leader in Medical Devices : and BP Monitors 100% in-house production, started in Baddi in 2015, and includes injection moulding Glucometers manufactured from bare PCBs, with low dependency on import Blood BloodGlucomete
Slide 16: Large Medical Devices Market Opening up in India and the World
Business Segments 3 Medical Devices $250bn Large Medical Devices Market Opening up in India and the World: Projected Medical Device Market in India by 2047 by InvestIndia** Estimated Market Size Global Estimated Market Size (India) (2030) (2047) India is the fourth largest medical USD Billion device
Slide 17: Operational Performance: Medical Devices Q1 product split
Business Segments 3 Medical Devices 21% Increase in sales revenue with Operational Perfomance: excellent all-around growth Annual Revenue Quarterly Revenue Rs. in Crores Rs. in Crores 500 others 443 138.45 BP Monitors 3.7% 35% 140 400 114.83 21% 18.9% 327 120 100 88.90 YOY 300 80 200 60 Q1 40 100 20
Slide 18: Glucometers: installed base and strip sales
Business Segments 3 Medical Devices 12.3mn Customer base with repeat purchase of strips every year Glucometers: Cumulative Glucometers Installed Glucometer & Strip Sales (Total) 11.71 cr strips sold in Q1'FY25 No. of Glucometers installed* Rs. in Crores 19% increase year-over-year 140 120 107.12 120
Slide 19: Blood Pressure Monitors: increasing health awareness
Business Segments 3 Medical Devices 6 million Over BP Monitors sold till Q1'FY25 Blood Pressure Monitors: with increasing health awareness No. of BP Monitors Sold Sales Revenue Consistent growth in product demand and expansion into new markets Numbers in Lakhs Rs. in Crores 3.5 30 26.18 100% manufac
Slide 20: Category Leaders in Six APIs
Business Segments 3 Pharma Business APIs 85% Over Category Leaders in Six APIs: Based on the last 15 months export data of API revenue comes from top six leading high-value products Morepen 26% Others 33% Morepen #1 #1 #1 44.2% Market Market Market Others Share Share Share 55.8% New Morepen 67% Othe
Slide 21: Exporting to over 80 Countries: Q1 API revenue split
Business Segments 3 Pharma Business APIs 31% Increase in exports with consistent repeat orders Exporting to over 80 Countries: S.America USA 4.6% 12% Over Over India 71% Europe 500 200 29.4% Q1 23.9% Customers Customers in India Exports Worldwide Asia 26.4% API revenue split
Slide 22: Region Wise Growth
Business Segments 3 Pharma Business 130% Increase in Exports to highly Region Wise Growth: regulated European market Rs. in Crores USA Europe India APAC S. America 40 39.37 57.81 60 80 76.22 60 7 6.98 52.33 64.36 50.33 30 26.26 50 50 15% 6 80% 130% 60 40 40 5 3.38 20 16% 30 4 33% 30 22.71 40 3 20 20
Slide 23: Operational Performance: Pharma Revenue split
Business Segments 3 Pharma Business APIs and Finished Dosages 20% Increase in Exports of High Operational Perfomance: Value APIs Annual Revenue Quarterly Revenue Rs. in Crores Rs. in Crores 1400 1261 350 320.28 OTC 1200 1101 15% 288.50 7.1% 300 11% RX 1000 250 17.4% 800 200 600 150 Q1 400 100 200 50
Slide 24: Pharma Business: distribution and sales force
Business Segments 3 Pharma Business 5100+ Distributors and 3.28 Lakhs retail touch points across product portfolio 5,100+ distributors and 3.28 lakhs retail touch points in 28 states and 1 UT across product portfolio Separate dedicated teams for Medical Devices, Rx and OTC businesses Total sales for
Slide 25: Index: Financial Overview
INDEX 4 Financial Overview Improved Revenue and EBITDA Margins
Slide 26: Quarterly Performance: Revenue, EBITDA and PAT
4 Financial Overview 147% Increase in Profit after Tax driven Quarterly Performance: by a 93% increase in EBITDA Rs. in Crores Gross Revenue EBITDA Profit After Tax 500 459 60 52.63 55.05 40 36.17 403 427 400 14% 50 93% 28.75 147% 30 YOY 40 YOY 300 7.89% 30 28.51 12.3% 12.0% 20 6.73% 14.63 200 20 10
Slide 27: Quarterly Performance: EPS
4 Financial Overview 147% Increase in the Quarterly EPS driven Quarterly Performance: by a 147% increase in PAT EPS in Rupees EPS in Rupees Profit after tax rose to Rs. 36.17 cr, Quarterly EPS Annual EPS marking a 147% increase 0.8 0.71 2.5 2.30 Earnings per share for Q1'FY25 147% 1.88 22% 0.6 0.54
Slide 28: Thank you
Looking forward to working with you Thank you www.morepen.com
Morepen Laboratories — Q1 FY2025 Earnings Presentation on 6ix