Morepen Laboratories Limited · NSE:MOREPENLAB
Morepen Laboratories — Q3 FY2022 Earnings Presentation
42 slides from Morepen Laboratories's earnings presentation, Feb 8, 2022
Slide 1: Exchange filing cover letter: Investors Presentation Q3 FY22
Date: 08/02/2022 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 (Q3’FY22) February 2022
Slide 2: Morepen Laboratories Q3'FY22 Earnings Presentation
MOREPEN LABORATORIES LIMTED Q3'FY22 earnings Presentation - february 2022
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
Slide 4: YTD Highlights
CONSOLIDATED 9M'FY22 performance YTD HIGHLIGHTS Rs. in crores ^30% ^30% Rs. in crores ^59% Net Revenue EBItdA 909.36 1185.67 96.02 125.12 ^27% ^27% Profit before Tax 70.88 112.53 Profit after Tax EPS (9M) 70.33 89.36 Rs. 1.56 Rs. 1.99 9M 'FY21 9M 'FY22 9M 'FY21 9M 'FY22 9M 'FY21 9M 'FY22
Slide 5: Quarterly Highlights
CONSOLIDATED Q3'FY22 performance QUARTERLY HIGHLIGHTS Rs. in crores Rs. in crores ^29% Net Revenue ^14% Profit before Tax 310.26 399.19 23.80 27.14 Q3'FY21 Q3'FY22 Q3'FY21 Q3'FY22
Slide 6: Consolidated quarterly performance
CONSOLIDATED quarterly performance
Slide 7: Revenue Growth
CONSOLIDATED REVENUE GROWTH 25% CAGR Rs. in crores 1,250 1,000 750 772 863 1200 ^30% 1186 400 ^29% 399.19 300 610 310.26 500 200 250 100 0 FY'18 FY'19 FY'20 FY'21 9M'22 0 Q3'FY21 Q3'FY22 Annual performance Q3'FY22 performance
Slide 8: Business Segments
CONSOLIDATED BUSINESS SEGMENTS B2-B API BUSINESS MEDICAL DEVICES B2-C B2-B2-c FORMULATIONS OTC (SUBSIDIARY) B2-C
Slide 9: Segments Wise Growth
CONSOLIDATED-9m'Fy22 SEGMENTS WISE GROWTH API DIAGNOSTICS FORMULATIONS DR.MOREPEN -OTC ^22% ^56% ^27% ^25% 750 400 150 80 300 350.71 78.63 500 623.91 130.10 60 511.70 100 63.11 200 102.50 224.51 40 250 100 50 20 0 0 9M 'FY21 9M FY22 9M 'FY21 9M 'FY22 0 0 9 M'FY21 9M 'FY22 9 M'FY21 9M 'FY22 RS. IN CR
Slide 10: Segment Wise Breakup
STANDALONE SEGMENT WISE BREAKUP Formulations share 9MFy'21 9MFY'22 11.8% API 61.0% 56.5% 4.5% Diagnostic Devices API 31.7% 56.5% Diagnostics 26.8% 31.7% 4.9% revenue split formulations 9M FY'22 12.2% 11.8% 0.4%
Slide 11: API Business
API BUSINESS leadership through quality
Slide 12: API Revenue
api business API REVENUE 26% CAGR ^41% Rs. in crores 750 683 ^22% 624 500 250 474 232.95 413 200 339 150 250 165.02 100 50 0 FY'18 FY'19 FY'20 FY'21 9M '22 0 Q3'FY21 Q3'FY22 Annual performance Q3'FY22 performance
Slide 13: API Export
api business API EXPORT 26% CAGR ^43% Rs. in crores 500 400 473 ^10% 389 200 341 300 309 150 200 235 157.29 100 110.39 100 50 0 FY'18 FY'19 FY'20 FY'21 9M '22 0 Q3'FY21 Q3'FY22 Annual performance Q3'FY22 performance
Slide 14: Continent Wise Growth
Rs. in crores api business CONTINENT WISE GROWTH 877 customers DEC.'2021 ^34% -10% ^8% ^52% ^38% -12% 75 80 250 250 40 15 79.25 200 200 231.35 14.12 66.55 71.12 30 25.09 60 205.33 10 12.38 50 150 189.61 150 49.77 152.34 20 34.72 40 100 100 25 5 20 50 50 10 0 0 0 0 0 0 FY21 FY22 FY21 FY22 FY21 FY22 F
Slide 15: Key API Products
api business KEY API PRODUCTS MONTELUKAST ATORVASTATIN ^108% ^31% NEW MOLECULES LORATADINE ^32% ^5%
Slide 16: Loratadine: Export
api business JAN-OCT'21 LORATADINE : EXPORT Others Ar 6.3% 64% 1.9% Cd 5.5% My 7.7% Jan-Oct'21 Vs export market share 12.8% Morepen of Morepen 64.4% 87% exports 9m'FY22
Slide 17: Montelukast: Export
api business JAN-OCT'21 MONTELUKAST : EXPORT Other 36% 7% My 4% Dr 4.4% Morepen Ht 35.8% 5.4% Jan-Oct'21 export market share Mel 7.9% of Morepen Tv 8.1% Ms La 9.2% 16.5% 39% exports 9m'FY22
Slide 18: New Developments
api business NEW DEVELOPMENTS in the quarter FEXOFINADINE DAPAGLIFLOZIN got usfda approval commercially launched SITAGLIPTIN LINAGLIPTIN READY for launch PROCESS PATENT granted
Slide 19: New Developments
api business NEW DEVLOPMENTS in the quarter NINE EIGHT patents fileD DMFS fileD ONE FOUR COS approvals PATENTS GRANTED
Slide 20: POC Medical Devices
POC MEDICAL DEVICES market leadership
Slide 21: POC Revenue
POC medical devices POC REVENUE 41% CAGR ^7% Rs. in crores 400 ^56% 351 300 100 287 93.66 75 87.58 200 168 50 140 100 103 25 0 FY'18 FY'19 FY'20 FY'21 9M '22 0 Q3'FY21 Q3'FY22 Annual performance Q3'FY22 performance
Slide 22: Growth Drivers
poc medical devices GROWTH DRIVERS ^16% ^39% gluco meters BP Monitors
Slide 23: Gluco Meter Revenue
POC medical devices GLUCO METER REVENUE 41% CAGR ^16% Rs. in crores 250 ^68% 232 200 180 100 150 75 63.14 100 120 93 50 65 50 54.55 0 25 FY'18 FY'19 FY'20 FY'21 9M '22 0 Annual performance Q3'FY21 Q3'FY22 Q3'FY22 performance
Slide 24: Gluco Meter Installed
POC medical devices GLUCO METER INSTALLED 40% CAGR ^55% ^28% ^16% 2 1.72 1.69 1.5 1 0.98 6.75 MILLION 850 MILLION meters installed strips sold so far 0.77 0.5 0.62 q3'Fy22 0.61 MILLION q3'Fy22 64 MILLION 0 FY'18 FY'19 FY'20 FY'21 9M '22 million meter installed
Slide 25: BP Monitor Revenue
POC medical devices BP MONITOR REVENUE 43% CAGR Rs. in crores ^39% 80 ^64% 76 60 63 30 40 26.79 20 29 27 19.29 20 22 ONE MILLION 10 0 meters sold ytd FY'18 FY'19 FY'20 FY'21 9 M'22 0 Q3'FY21 Q3'FY22 Annual performance Q3'FY22 performance
Slide 26: Increasing Reach
POC medical devices INCREASING REACH Gluco and BP monitor with boman irani Gluco and BP monitor with Javed akhtar pregnancy kit with kareena kapoor
Slide 27: Formulations
FORMULATIONS brandeD domestic formulations
Slide 28: Formulations Revenue
FORMULATIONS FORMULATIONS REVENUE 5% CAGR ^23% Rs. in crores 200 150 153 138 ^33% 50 131 130 100 111 45.23 40 30 36.69 50 20 10 0 FY'18 FY'19 FY'20 FY'21 9M '22 0 Q3'FY21 Q3'FY22 Annual performance Q3'FY22 performance
Slide 29: Growth Drivers
FORMULATIONS GROWTH DRIVERS ^32% ^5% antibiotics generics ^37% ^57% gastro others
Slide 30: OTC & Nutrition
Dr. Morepen® OTC & NUTRITION
Slide 31: Gross Revenue
GROSS REVENUE 20% CAGR Rs. in crores ^46% 100 86 ^25% 75 79 65 30 50 54 49 26.80 20 23.08 25 18.35 10 0 FY'18 FY'19 FY'20 FY'21 9M 'FY22 0 Annual performance Q3'FY21 Q3'FY22 Q3'FY22 performance
Slide 32: Growth Drivers
GROWTH DRIVERS ^25% ^449% TRADE on-line
Slide 33: Business Segments
BUSINESS SEGMENTS Online online business 13.9% quarter on quarter growth 500 ^40% 400 487 Rs. in lakhs ^36% 300 ^201% 347 Trade 200 255 86.1% 100 business segments 9M'FY22 0 Q1 Q2 Q3
Slide 34: New Online Launches
NEW ONLINE LAUNCHES multi-vitamins pcos powder collagen muscle food sexual wellness iron & ZInc probiotics Garcinia vitamin-C,E COQ-10 Giloy+Tulsi omega-3 stress & sleep slim shake general health Krill Oil Amla juice exclusive online range launched at www.health.drmorepen.com
Slide 35: Brand Portfolio
BRAND PORTFOLIO an established national household brand with extensive reach and trust 17% CAGR Rs. in crores ^5% 600 ^41% 551 400 425 371 200 347 162.56 263 150 162.54 200 OTC Healthcare 154.27 14.3% 100 22.1% 0 50 FY'18 FY'19 FY'20 FY'21 9M '22 9 M'Fy22 0 Annual performance Q3'FY21 Q3'FY22 Q3'FY22
Slide 36: R&D Spend
consolidated R&D SPEND increasing investment in R&D Rs. in crores ^58% Devices 5.4% 15 API 45.4% Formulations 10 10.30 49.1% 5 6.52 9M 'FY22 0 segment wise spend FY21 9M'FY22 YTD 9M SPEND
Slide 37: Financial Highlights
FINANCIAL highlights
Slide 38: Revenue Highlights 9M FY22
CONSOLIDATED-9M'Fy22 REVENUE HIGHLIGHTS Net Revenue Expenditure ebitda interest cash profit ^30% ^30% ^30% -18% ^42% 1,250 1,250 150 2 150 1,000 1185.67 1,000 125.12 1.84 133.28 1060.55 100 1.5 750 909.36 750 1.62* 100 813.34 96.02 1 94.18 500 500 50 50 250 250 0.5 0 0 0 0 0 9M 'FY21 9M 'FY22 9M 'FY
Slide 39: Revenue Highlights Q3 FY22
CONSOLIDATED-Q3'Fy22 REVENUE HIGHLIGHTS Net Revenue Expenditure ebitda interest cash profit ^29% ^31% ^7% -41% ^9% 400 400 40 1.5 40 399.19 300 300 364.38 30 34.81 310.26 32.63 1.26 30 34.06 277.63 1 31.36 200 200 20 20 0.5 0.75 100 100 10 10 0 0 0 0 0 Q3'FY21 Q3'FY22 Q3'FY21 Q3'FY22 Q3'FY21 Q3'FY22
Slide 40: Profitability Highlights 9M FY22
CONSOLIDATED-9m'Fy22 PROFITABILITY HIGHLIGHTS PROFIT BEFORE TAX PROVISION FOR TAX PROFIT AFTER TAX EPS(Rs.) ^59% ^27% ^27% 125 25 100 2 100 112.53 20 23.17 89.36 1.99* 75 1.5 1.56 75 15 70.33 50 1 50 70.88 10 25 0.5 25 5 0.54 0 0 0 0 9M 'FY21 9M 'FY22 9M 'FY21 9M 'FY22 9M 'FY21 9M 'FY22 9M 'FY21 9M
Slide 41: Profitability Highlights Q3 FY22
CONSOLIDATED-Q3'Fy22 PROFITABILITY HIGHLIGHTS PROFIT BEFORE TAX PROVISION FOR TAX PROFIT AFTER TAX EPS(Rs.) ^14% -10% -10% 40 8 25 0.6 20 23.79 30 6 21.52 0.53 27.14 5.62 0.4 0.48 15 20 4 23.80 10 0.2 10 2 5 0 0 0.35 0 0 Q3'FY21 Q3'FY22 Q3'FY21 Q3'FY22 Q3'FY21 Q3'FY22 Q3'FY21 Q3'FY22 *Diluted EPS- R
Slide 42: Thank you
Take Care thank you
Morepen Laboratories — Q3 FY2022 Earnings Presentation on 6ix