Shilpa Medicare Limited · NSE:SHILPAMED
Shilpa Medicare — Q4 FY23 Earnings Presentation
28 slides from Shilpa Medicare's earnings presentation, May 25, 2023
Slide 1: Exchange filing 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 25 May 2023 Corporate Relationship Department, N
Slide 2: Shilpa Medicare Limited (SML) Q4 & FY23 Results Presentation
Shilpa Medicare Limited (SML) Q4 & FY23 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 Q4 FY’23 performance, Mr. Vishnukant Bhutada, Managing Director Shilpa Medicare Limited said “We have maintained revenue performance relative to the sequential previous quarter and have benefited from an enhanced business mix during the quarter, translatin
Slide 8: Financial Performance
Financial Performance 7
Slide 9: Financial Performance – SML Standalone
8 Financial Performance – SML Standalone (INR in Cr.) % % % Q4 Q3 chang Q4 chang chang Particulars FY23 FY23 e FY22 e FY23 FY22 e Revenues 86.8 69.2 25% 83.2 4% 316.3 397.8 -20% Gross Margin 61.5 54.7 12% 72.6 -15% 234.1 319.0 -27% Gross Margin % 71% 79% 87% 74% 80% Employee Cost 26.3 26.6 -1% 30.1
Slide 10: Balance Sheet – SML Standalone
Balance Sheet – SML Standalone 9 (INR in Cr.) Particulars 31-Mar-23 31-Dec-22 31-Mar-22 Fixed Assets 608.9 602.2 565.8 Tangible Assets 517.0 526.7 548.3 Intangible Assets 92.0 75.5 17.5 Capital WIP 226.4 246.9 293.1 Tangible Assets 41.8 49.1 52.6 Intangible Assets 184.6 197.9 240.5 Slump Sale Consid
Slide 11: Financial Performance Consolidated
Financial Performance Consolidated 10 (INR in Cr.) % Q4 chang Q4 % % Particulars FY23 Q3 FY23 e FY22 change FY23 FY22 change Revenues 265.7 265.2 0% 346.1 -23% 1067.5 1159.8 -8% Gross Margin 176.3 159.7 10% 233.0 -24% 651.6 776.6 -16% Gross Margin % 66% 60% 67% 61% 67% Employee Cost 72.4 68.5 6% 73.
Slide 12: Balance Sheet Consolidated
Balance Sheet Consolidated 11 (INR in Cr.) Consolidated Particulars 31-Mar-23 31-Dec-22 31-Mar-22 Fixed Assets 1,368.3 1,365.7 1,341.8 Tangible Assets 1,179.5 1,190.1 1,213.6 Intangible Assets 188.9 175.7 128.2 Capital WIP 655.3 625.5 506.2 Tangible Assets 358.0 319.7 190.0 Intangible Assets 297.3 3
Slide 13: Business Highlights
Business Highlights 12
Slide 14: FY'23 Consolidated Performance
FY’23 Consolidated Performance 13 (INR in Cr.) Revenue EBIDTA -23% 0.4% -8% 19% -45% -49% 1,159.0 346.1 79.2 265.2 266.2 218.1 1,068.0 40.4 119.7 34.0 % to Sales FY'23 FY'22 Q3 FY'23 Q4 FY'23 Q4 FY'22 Q3 FY'23 Q4 FY'23 Q4 FY'22 FY'23 FY'22 62% -107% PBT -135% 8% PAT -157% 47.5 -22% -127% -22% 97.1 5
Slide 15: Consolidated Revenue Break-up – Q4 FY'23
Consolidated Revenue Break-up – Q4 FY’23 14 (INR in Cr.) Q3 FY’23 Q4 FY’23 Q4 FY’22 INR 265.2 Cr. INR 266.2 Cr. INR 346.1 Cr. Degrowth of -23% vs Q4 FY’22 12.5, 5% 22.1, 8% 30.0 , 9% 55.7 , 21% 56.8 , 21% 196.8 , 74% 187.3 , 71% 86.5 , 25% 229.6 , 66% API Growth of 0.4% vs Q3 FY’22 Formulation Other
Slide 16: Consolidated Revenue Break-up – FY'23
Consolidated Revenue Break-up – FY’23 15 (INR in Cr.) FY’23 FY’22 INR 1068 Cr. INR 1159.8 Cr. 52.1, 5% 58.9 , 5% 258.2 , 24% 353.2 , 30% 757.8 , 71% -8% Dgwth 747.7 , 65% API Formulation Others
Slide 17: API Business
API Business | noting affordable healthcare
Slide 18: API Business-Highlights Q4 FY'23
API Business-Highlights Q4 FY’23 17 (INR in Cr.) Oncology CDMO/Service CRAMS -9% 608% -26% 286% -37% 8.5 -74% 134.2 23.1 92.6 84.6 2.2 1.2 8.3 6.1 Q3 FY'23 Q4 FY'23 Q4 FY'22 Q3 FY'23 Q4 FY'23 Q4 FY'22 Q3 FY'23 Q4 FY'23 Q4 FY'22 Q3 FY’23 Dgwth Q4 FY’23 Dgwth Q4 FY’22 Non Oncology 196.8 5% 187.3 -18%
Slide 19: API Business-Highlights FY'23
API Business-Highlights FY’23 18 (INR in Cr.) Oncology CDMO/Service Crams 264% -18% -62% 447.5 21.1 76.9 368.5 29.6 5.8 FY'23 FY'22 FY'23 FY'22 FY'23 FY'22 Non Oncology FY’23 Others 757.7 56% 54% 307.6 Gwth 30.7 1% 197.6 19.9 FY’22 747.5 FY'23 FY'22 FY'23 FY'22 *Numbers are excluding captive consump
Slide 20: DMF Filing update
DMF Filing update 19 New product introduction and increase in geographical coverage replicated with 227 number of DMF filings done with major regulatory authorities 60 50 50 45 40 34 30 20 20 20 17 12 11 10 9 7 2 0 US FDA EU/ EMEA GCC / ROW MFDS TPD-Canada TGA CHINA PMD RUSSIA MEDSAFE WHO As on 31-M
Slide 21: Formulation Business
20 Formulation Business
Slide 22: Formulation Business-Highlights Q4 FY'23
Formulation Business-Highlights Q4 FY’23 21 (INR in Cr.) Europe License Fees/ CDMO ROW -35% 32% -23% -53% 85% -57% 19.0 37% 14.6 50.6 11.1 3.7 33.6 2.7 22.0 2.0 Q3 FY'23 Q4 FY'23 Q4 FY'22 Q3 FY'23 Q4 FY'23 Q4 FY'22 Q3 FY'23 Q4 FY'23 Q4 FY'22 Q3 FY’23 Gwth Q4 FY’23 Dgwth Q4 FY’22 US 55.7 2% 56.8 34%
Slide 23: Formulation Business-Highlights FY'23
Formulation Business-Highlights FY’23 22 (INR in Cr.) Europe License Fees/ CDMO ROW -36% 75% 99% -36% 54.1 30.9 18.3 196.1 9.2 126.3 FY'23 FY'22 FY'23 FY'22 FY'23 FY'22 FY’23 US 258.2 Domestic -53% 61% Dgwth -27% 112.1 16.8 53.0 FY’22 6.5 353.3 FY'23 FY'22 FY'23 FY'22
Slide 24: Regulatory Filings
Regulatory Filings 23 Robust regulatory filings to strength the base for growth in the formulation segment Approved Pending 384 28 26 8 215 16 20 10 3 169 2 1 US ANDA (SML) US NDA (SML) EU Filings ROW As on 31-Mar-23
Slide 25: Annexures
Annexures 24
Slide 26: Manufacturing Excellence
Manufacturing Excellence 25 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 27: About Shilpa Medicare Ltd.
About Shilpa Medicare Ltd. 26 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 28: Thank You
27 Thank You