Morepen Laboratories Limited · NSE:MOREPENLAB
Morepen Laboratories — Q2 FY24 Earnings Presentation
32 slides from Morepen Laboratories's earnings presentation, Nov 2, 2023
Slide 1: Exchange filing cover letter
Date: 02/11/2023 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 (Q2’ FY24) November 2023 Dear Sir/
Slide 2: Q2'FY24 Earnings Presentation - Nov 2023
MOREPEN LABORATORIES LIMITED Q2'FY24 earnings Presentation - nov 2023
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: Quarterly Highlights
CONSOLIDATED Q2'FY24 performance QUARTERLY HIGHLIGHTS Rs. in crores Rs. in crores ^5% ^34% 404 388 Net Revenue Profit after 303 Tax 259 403.85 425.01 15.82 21.26 Q2'FY23 Q2'FY24 Q2FY23 Q2'FY24 JlOREPEN
Slide 5: Half Yearly Highlights
CONSOLIDATED H1'FY24 performance HALF YEARLY HIGHLIGHTS Rs. in crores Rs. in crores ^17% ^67% 404 388 Net Revenue Profit after 303 Tax 259 707.17 828.46 21.45 35.89 H1'FY23 H1'FY24 H1'FY23 H1'FY24 JlOREPEN
Slide 6: Quarterly Highlights
CONSOLIDATED QUARTERLY HIGHLIGHTS • Business is on the fast growth with a quarterly revenue of Rs. 425 cr. up 5% in Q2 and 17% on H1. • Domestic revenue at Rs. 280.10 Cr. are up by 26% and 31% for Q2'FY24 and H1'FY24 respectively. • In the API Business, exports is up by 14% while domestic business h
Slide 7: Revenue Growth CAGR 19%
CONSOLIDATED REVENUE GROWTH CAGR 19% (Rs. in crores) (Rs. in crores) 2,000 500 1557 1,500 1424 400 403 425 5% 404 QoQ 1200 360 300 350 1,000 858 828 707 17% 200 H1 y0y 500 100 0 FY'20 FY'21 FY'22 FY'23 H1 FY'24 0 Q2'FY23 Q3'FY23 Q4'FY23 Q1'FY24 Q2'FY24 Annual performance QUARTERLY performance JlOREP
Slide 8: Business Segments
CONSOLIDATED BUSINESS SEGMENTS API BUSINESS MEDICAL DEVICES subsidiaries > FORMULATIONS OVER THE COUNTER
Slide 9: Segments Wise Performance
CONSOLIDATED- Q2 SEGMENTS WISE PERFORMANCE API DIAGNOSTICS FORMULATIONS DR.MOREPEN -OTC -13% ^41% ^16% ^22% 250 150 60 30 243.36 200 211.82 132.87 100 52.26 25.10 150 40 44.87 20 94.11 20.61 100 50 20 10 50 0 0 Q2'FY23 Q2'FY24 Q2'FY23 Q2'FY24 0 0 Q2'FY23 Q2'FY24 Q2'FY23 Q2'FY24 H1 ^5% H1 ^44% H1 ^12
Slide 10: API Revenues CAGR 20%
API BUSINESS API REVENUES CAGR 20% (Rs. in crores) (Rs. in crores) 1,000 250 858 823 243 750 683 200 211 217 212 203 5% QoQ 500 474 150 415 395 5% 100 H1 YoY 250 50 0 FY'20 FY'21 FY'22 FY'23 H1 FY'24 0 Q2'FY23 Q3'FY23 Q4'FY23 Q1'FY24 Q2'FY24 Annual performance QUARTERLY performance JlOREPEN
Slide 11: Continent Wise Share
api business CONTINENT WISE SHARE Others Others MENA USA MENA 0.1% 0.1% USA 12.1% 12.9% 9.9% 15.3% S. America S. America 4.6% 7.3% Europe Europe 18% 12.9% India 30.6% India 34.8% Asia Asia 19.7% 21.9% FY23 H1' FY24
Slide 12: Key Growth Contributors
api business KEY GROWTH CONTRIBUTORS FEXOFENADINE ROSUVASTATIN ^413%* ^26% ATORVASTATIN OLMESARTAN ^12% ^129% *with major growth coMING from US market with start of supplies for regulatory customers post uSFDA of the product J\\OREPEN
Slide 13: Intellectual Property
api business INTELLECTUAL PROPERTY USA Europe Japan 143 26 11 patents US DMFs CEP korea China Taiwan Australia 8 185 41 china idls non-Us DMFs new products Brazil *** _J L ;;,::n * * *EU-GMP* • 7 1 1 ~;; **•* * JAPAN ANVISA CillNANi\ilPA * * 36 patents granted JAOREPEN
Slide 14: DMF Filings and Patents
api business DMF FILINGS AND PATENTS DMFs PATENTS DESLORATADINE MONTELUKAST GRANTED Novel Process for the Novel Process preparation & purification of for the preparation of I RIVAROXABAN CRYSTALLINE DAPAGLIFLOZIN PROPANEDIOL MONOHYDRATE LORATADINE RIVAROXABAN LINAGLIPTIN and its intermediated Improv
Slide 15: New APIs Developed
api business NEW APIs DEVELOPED TAFAMIDIS transthyretin stabilizer TICAGRELOR anti - platelet Note: These products are not offered for sale in any country where there is patent protection JAOREPEM
Slide 16: Capacity Expansions
api business CAPACITY EXPANSIONS NEW PRODUCTION BLOCK (P-11) started in baddi (HP) MONTELUKAST CAPACITY 55 mt to 66 mt Note: These products are not offered for sale in any country where there is patent protection JAOREPEM
Slide 17: Devices Revenue CAGR 25%
MEDICAL DEVICES DEVICES REVENUE CAGR 25% (Rs. in crores) (Rs. in crores) 500 150 419 400 133 16% 327 QoQ 115 300 287 100 248 94 86 200 172 44% 168 y0y 70 50 H1 100 0 FY'20 FY'21 FY'22 FY'23 H1 FY'24 0 Q2'FY23 Q3'FY23 Q4'FY23 Q1'FY24 Q2'FY24 Annual performance QUARTERLY performance JlOREPEN
Slide 18: Gluco Meter Revenue CAGR 29%
POC MEDICAL DEVICES GLUCO METER REVENUE CAGR 29% (Rs. in crores) (Rs. in crores) 300 279 125 254 100 103 12% 195 QoQ 200 180 92 42% 75 y0y 74 152 137 120 63 50 100 H1 54 25 0 FY'20 FY'21 FY'22 FY'23 H1 FY'24 0 Q2'FY23 Q3'FY23 Q4'FY23 Q1'FY24 Q2'FY24 Annual performance QUARTERLY performance JlOREPEN
Slide 19: Gluco Meter Installed
POC medical devices GLUCO METER INSTALLED CAGR 29% Million Meters 2.5 2.167 2.123 2 1.693 1.5 1.265 1.262 0.979 10.6 MILLION 1.39 BILLION 1 H1 meters installed strips sold so far 0.5 0 FY'20 FY'21 FY'22 FY'23 H1 FY'24 million meter installed --
Slide 20: BP Monitor Revenue CAGR 26%
POC medical devices BP MONITOR REVENUE CAGR 26% Rs. in crores (Rs. in crores) 100 84 25 24 75 20% 63 20 20.58 20 QoQ 58 50 44 15 16 16 29 52% 13 29 y0y 10 25 H1 5 0 FY'20 FY'21 FY'22 FY'23 H1 FY'24 0 Q2'FY23 Q3'FY23 Q4'FY23 Q1'FY24 Q2'FY24 Annual performance QUARTERLY performance
Slide 21: Formulation Revenue CAGR 10%
FORMULATION CAGR 10% FORMULATION REVENUE Rs. in crores (Rs. in crores) 200 185 169 60 150 138 131 50 52 4% 49 QoQ 46 45 101 40 100 90 12% y0y H1 50 20 0 FY'20 FY'21 FY'22 FY'23 H1 FY'24 0 Q2'FY23 Q3'FY23 Q4'FY23 Q1'FY24 Q2'FY24 Annual performance QUARTERLY performance JlOREPEN
Slide 22: Formulations Growth Drivers
FORMULATIONS GROWTH DRIVERS ^24% ^1% antibiotics vitamins ^52% ^135% gastro others J\\OREPEN
Slide 23: OTC Gross Revenue CAGR 13%
CAGR 13% GROSS REVENUE Rs. in crores (Rs. in crores) 125 106 30 100 93 86 25 9% 75 23 QoQ 65 20 22 22 21 50 49 48 H1 25 -2% 10 y0y 0 FY'20 FY'21 FY'22 FY'23 H1 FY'24 0 Q2'FY23 Q3'FY23 Q4'FY23 Q1'FY24 Q2'FY24 Annual performance QUARTERLY performance
Slide 24: OTC Growth Drivers
GROWTH DRIVERS ^78% ^76% Burnol ORAL Rehydration/ORS ^38% -31% General Health OTC 0nline
Slide 25: Financial Highlights Q2 FY24
FINANCIAL HIGHLIGHTS CONSOLIDATED-Q2'Fy24 (Rs. in crores) net revenue EBIDTA PROFIT BEFORE TAX PROFIT AFTER TAX ^5% ^24% ^ 29% ^34% 25 500 40 30 28.68 20 400 36.83 21.26 425.01 30 403.85 29.79 20 22.32 15 300 15.82 20 10 200 10 10 5 100 0 0 0 0 Q2'FY23 Q2'FY24 Q2'FY23 Q2'FY24 Q2'FY23 Q2'FY24 Q2'FY23
Slide 26: Financial Highlights H1 FY24
FINANCIAL HIGHLIGHTS CONSOLIDATED- H1'FY24 (Rs. in crores) net revenue EBIDTA PROFIT BEFORE TAX PROFIT AFTER TAX ^17% ^44% ^ 61% ^67% 75 50 40 1,000 49.19 65.34 40 35.89 38.53 30 750 828.46 50 30 707.17 45.25 30.62 20 500 20 21.45 25 10 10 250 0 0 0 0 H1 FY'23 H1 FY'24 H1 FY'23 H1 FY'24 H1 FY'23 H1
Slide 27: Beyond Numbers
BEYOND NUMBERS Enhancing Talent for Progress A
Slide 28: Path to Growth and Expansion
Fresh faces, diverse experiences, boundless potential PATH TO GROWTH AND EXPANSION LALIT BAREGAMA ASHUTOSH SHARMA CHIEF GROWTH OFFICER (API) AVP - SALES & MARKETING, RX 20 Years Exp | Viwit, Cadila, Vimta Labs 29 Years Exp | NATCO, CADILA, TORRENT PRAMOD SINGH PUNEET CHAWLA HEAD- REGIONAL GROWTH (AP
Slide 29: Excellence in Workplace: Bubble Chat
business synergy and work culture EXCELLENCE IN WORKPLACE BubbleChat @ M O R E P E N Bubble Chat mentorship programs Awards • A live chat for transparent, • Development of essential skills, • Awarded Best Company engaging discussions with enhanced engagement, to Work for in 2023 by senior management
Slide 30: Keeping Pace with the Change
digitisation and technology moves KEEPING PACE WITH THE CHANGE - ·"'" ~ ~~ slack ~"'-~ - CONNECT THREE SIXTY connect 360 fast communication CRM communication • In house initiative for • Fast and secure way to • World best Customer Connecting with all the communicate internally and Realtionship Manag
Slide 31: morepen@work
morepen@work
Slide 32: Thank you
Thank you love heals