Thyrocare Technologies Ltd · NSE:THYROCARE
Thyrocare Technologies — Investor Presentation (November 2022)
29 slides from Thyrocare Technologies's investor presentation, Nov 16, 2022
Slide 1: Exchange cover letter: revised corporate roadshow presentation
November 16, 2022 The National Stock Exchange of India Limited The Bombay Stock Exchange Ltd Exchange Plaza Phiroze Jeejeeboy Towers Bandra Kurla Complex, Dalal Street, Bandra (E), Mumbai - 400 051 Mumbai- 400 001 (SYMBOL: THYROCARE) (SCRIP CODE 539871) Sub: Disclosure of information under Regulatio
Slide 2: Thyrocare Technologies Limited Corporate Presentation November 2022
Thyrocare Technologies Limited Corporate presentation November 2022
Slide 3: Safe Harbour
Safe Harbour This presentation and the accompanying slides (the “Presentation”), which have been prepared by Thyrocare Technologies Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for a
Slide 4: Agenda
Agenda 1 Diagnostics Overview 2 Our Strategy 3 Performance Summary 4 Looking ahead 3
Slide 5: India underpenetrated in per capita healthcare spend relative to the rest of the world
In terms of per capita spend on healthcare, India currently underpenetrated relative to the rest of the world Indian healthcare spending as % of GDP is currently Low govt healthcare coverage, high out of pocket spend behind global average even relative to other emerging economies Healthcare spending
Slide 6: Diagnostics market at INR ~87k Cr expected to grow ~12% over next 5 years
Diagnostics market currently at INR ~87k Cr expected to grow at ~12% over next 5 years Diagnostics market in India INR '000 Cr Steady-state Recovery of real market Covid-Impact +12% 136 121 4 Historical Growth +9% 108 5 +20% 97 5 +13% 87 6 81 68 18 60 28 132 116 103 91 60 68 68 53 FY19 FY20 FY21 FY2
Slide 7: OPD Pathology is the primary focus market
OPD Pathology is the primary focus market Diagnostic Market OPD Pathology Market OPD Pathology Market1 100% 100% National chains National 8% (growing at ~15%) (12%) chains to drive market 9% growth in steady Regional state (FY23-26) chains Rest of 58% (42%) Radiology India Standalone 46% centers 100
Slide 8: Agenda
Agenda 1 Diagnostics Overview 2 Our Strategy 3 Performance Summary 4 Looking ahead 7
Slide 9: About Us
About Us 10 NABL Labs 4,00,000+ 900+ Clinical Investigations Phlebotomists Daily Network Presence in 64,000+ Samples Processed 500+ Districts Daily 25 Years in the 3,900+ Pincodes Diagnostics Industry Franchise Network of 44,000+ 950+ Branded Patients Served Daily 5,000+ Thirdparty We conduct 280 cl
Slide 10: Partner of choice for diagnostics to all healthcare providers
We aim to be the partner of choice for diagnostics to all healthcare providers 61% 33% Franchise Partnerships + B2G -Mom & Pop collection centers -Online diagnostics aggregators -23 Labs -Local labs -Healthcare platforms -Lab within 200Kms of -Nursing homes & hospitals -Employee Wellness platforms e
Slide 11: Why focus on B2B vs B2C?
Why focus on B2B vs B2C ? Customer Acquisition Sample Collection Logistics Sample Processing Report Generation Crowded market with Network of 900+ Network of 600+ last Network of 23 labs across We reliably report 90% multiple players vying for company phlebos mile executives across the country, we h
Slide 12: Combination of Thyrocare and PharmEasy uniquely advantaged in diagnostics
The combination of Thyrocare and PharmEasy is uniquely advantaged in the diagnostics space Benchmarking Pharmeasy + Thyrocare Digital Diagnostics Standalone diagnostic Healthcare platforms player Product & tech depth Tech team spread Focused on single Digital strength is Spread across across 4 large
Slide 13: API + Thyrocare stronger together: 8-point agenda
API + Thyrocare stronger together – we started the year with an 8-point agenda + 1 Serve Pharmeasy Online customer base of 2.1 5 Continue to improve our value proposition to our M quarterly transacting users franchisee network, expand aggressively 2 Partner with Retailio & MARG retailer network 6 Fo
Slide 14: Focus areas to drive sustainable growth
We continue to focus on areas which we identified to drive sustainable growth Geography • Pin Expansion: Added 400+ active pincodes; 3900+ active pincodes in Q2 FY23 (1+ sample billed) Expansion • Lab Expansion: Our lab network continues to remain at 26 labs (19 RPLS, 3 ZPLs, 1 CPL, 3 PCR labs) Cust
Slide 15: Geography Expansion – Pin Expansion & Lab Network
Geography Expansion – Pin Expansion & Lab Network 19000 Total Pincodes in India 5000 Active pincodes goal by Mar-23 exit 3900 Pincodes active in Q2 FY23 3500 Pincodes active in Q1 FY23 Active pincode – Samples billed in the quarter 14
Slide 16: Customer Connect – Lifestyle Packages & Celebrity Promotions
Customer Connect – Lifestyle Packages & Celebrity Promotions Alcohol Smoking Impact Impact Tejashri Pradhan Ganesh Chaturthi - Maharashtra Hairfall Skin Care Screening Checkup Fitness Weight Manali Manisha Dey Essential Management Durga Pooja – West Bengal & Orissa Sedentary Stress Lifestyle Impact
Slide 17: Agenda
Agenda 1 Diagnostics Overview 2 Our Strategy 3 Performance Summary 4 Looking ahead 16
Slide 18: Quarter Health-check
Quarter Health-check QoQ Pathology YoY Non-Covid Revenue QoQ Non-Covid Revenue Normalized EBITDA +18% +5% +10% YoY Non-Covid samples QoQ Normalized EBITDA % YoY Radiology Revenue +39% +100 bps +30% (6 Mn samples (30% in Q2 FY23) in this Q) YoY Non-Covid YoY Covid Revenue YoY Total Revenue* Normalize
Slide 19: Consistent QoQ non-covid revenue growth for 3 quarters
We have consistently delivered QoQ non-covid revenue growth for 3 quarters Significant growth in Non COVID over last year Strong recovery of Non COVID business QoQ Non COVID Growth Pathology Revenue (INR Cr) 168.7 +5% 125.2 125.2 71.1 123.3 119.2 2.1 110.7 16.1 2.7 2.1 15.3 117.4 100.5 112.2 117.4 9
Slide 20: Normalized EBITDA continues to grow QoQ with revenue growth
Normalized EBITDA continues to grow QoQ in line with the revenue growth YoY revenue growth resulting in Normalized Strong growth in QoQ Normalized EBITDA led by EBITDA growth revenue growth and tight control over costs Pathology Normalized EBITDA (INR Cr) QoQ Non COVID Growth +10% 91.08 41.0 37.5 36
Slide 21: Re-oriented Non-COVID business verticals
We have re-oriented our Non-COVID business verticals to explain our strategy • Network of 950+ branded and 5000+ third party partners – collections centres, local labs, Franchise nursing homes and small hospitals • API, e-pharmacies, online consults, surgeries, at home healthcare & wellness provider
Slide 22: Core business verticals continue to grow
Our core business verticals continue to grow – Franchise business and Partnerships main drivers of growth Non COVID Diagnostics Services Revenue (Rs Cr) Non COVID Diagnostics Services Workload (Lakhs) 72 39 68 37 65 62 33 33 60 34 34 28 28 16 15 24 22 12 6 6 7 7 7 6 6 Q2 FY22 Q3 FY22 Q4 FY22 Q1 FY23
Slide 23: Income Statement – Pathology
Income Statement – Pathology Quarter Q Variance (%) Pathology revenue increased INR crore Q2 FY22 Q1 FY23 Q2 FY23 Seq. YOY 5% Q-o-Q. While it decreased Revenue from operations 168.74 119.24 125.23 5% -26% 26% Y-o-Y, primarily on account Cost of materials consumed/ sold (42.41) (38.26) (39.46) 3% -7%
Slide 24: Non COVID P&L improved QoQ, COVID P&L continues to decline
Non COVID P&L has improved QoQ, but COVID P&L continues to decline Non COVID COVID Q2’22 Q1’23 Q2’23 Q2’22 Q1’23 Q2’23 Revenue# 97.60 116.52 123.17 71.14 2.69 2.06 Drop in COVID revenue as the pandemic subsided. GM 63.49 79.16 84.23 62.84 1.79 1.54 COVID revenue through Franchise channel with lower
Slide 25: Income Statement – Radiology
Income Statement – Radiology Quarter Q Variance (%) Revenue from imaging INR crore Q2 FY22 Q1 FY23 Q2 FY23 Seq. YOY services accounted for 7% Revenue from operations 7.47 8.55 9.74 14% 30% consolidated revenue Cost of materials consumed/ sold (1.20) (1.24) (1.67) 35% 39% Gross margin 6.27 7.31 8.07
Slide 26: Income Statement – Consolidated
Income Statement – Consolidated Quarter Q Variance (%) Total revenue increased 6% INR crore Q2 FY22 Q1 FY23 Q2 FY23 Seq. YOY QoQ. While it decreased 23% Revenue from operations 176.21 127.79 134.97 6% -23% YoY, primarily on account of Cost of materials consumed/ sold (43.61) (39.50) (41.12) 4% -6% d
Slide 27: Agenda
Agenda 1 Diagnostics Overview 2 Our Strategy 3 Performance Summary 4 Looking ahead 26
Slide 28: Continue to execute against our strategy
We continue to execute against our strategy – will remain focused on the execution against this agenda + 1 Serve Pharmeasy Online customer base of 2.1 5 Continue to improve our value proposition to our M quarterly transacting users franchisee network, expand aggressively 2 Partner with Retailio & MA
Slide 29: Thank You
Thank You Disclaimer This presentation is for information purposes only and it contains general background information about the Company’s activities. The Company assumes no responsibility to publicly amend, modify or revise any forward looking statements on the basis of any subsequent development,
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