Morepen Laboratories Limited · NSE:MOREPENLAB
Morepen Laboratories — Q4 FY2022 Earnings Presentation
40 slides from Morepen Laboratories's earnings presentation, May 5, 2022
Slide 1: Stock exchange cover letter for investor presentation
......** • * Y....tOEN v1.-as ~ 1 ·-- ........ Date: 05/05/2022 To, ational Stock Exchange of India Ltd. BSE Limited Exchange Plaza, Bandra Kurla Complex, Floor 25, Phirozc Jcejecbhoy Towers, Sandra (East), Mumbai- 400 051 Dalal Street, Mumbai- 400 00 I Symbol: MOREPENLAB Scrip Code: 500288 Subject:
Slide 2: Q4'FY22 Earnings Presentation - May 2022
MOREPEN LABORATORIES LIMTED Q4'FY22 earnings Presentation - May 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: Annual Highlights
CONSOLIDATED Rs. in crores 12M'FY22 ANNUAL HIGHLIGHTS ^30% ^13% Net Revenue 1200.12 1557.13 EBIDTA 130.58 146.98 ^5% Profit after Tax ^29% Profit before Tax ^5% EPS (12M) 97.09 101.68 FY21 FY22 98.51 126.70 Rs. 2.16 Rs. 2.26 FY21 FY22 FY21 FY22
Slide 5: Quarterly Split
CONSOLIDATED Rs. in crores 12M'FY22 QUARTERLY SPLIT ^28% Q4'FY22 Q1'FY22 23.9% 24.9% 372 388 400 300 200 399 398 Q3FY22 100 Q2'FY22 25.6% 25.6% 291 372 0 Q4'FY21 Q4'FY22 Quarterly performance quarterly revenue split
Slide 6: Consolidated annual operational performance
CONSOLIDATED annual operational performance
Slide 7: Revenue Growth
CONSOLIDATED Rs. in crores 12M'FY22 REVENUE GROWTH 2,000 ^30% ^28% 26% CAGR 1,500 1557 400 1200 1,000 300 863 200 772 500 100 291 372 0 FY21 FY22 0 FY'19 FY'20 FY'21 FY'22 Quarterly performance ANNUAL performance
Slide 8: Export Revenue
CONSOLIDATED (Company-wide) Rs. in crores 12M'FY22 EXPORT REVENUE 600 ^17% 557 26% CAGR 477 250 ^20% 400 200 ^39% 312 343 150 200 100 50 165 207 0 Export Domestic 36% 0 FY'19 FY'20 FY'21 FY'22 Q4'FY22 revenue split exports %age FY22 ANNUAL export turnover
Slide 9: API Business, Medical Devices, Formulations, OTC
API BUSINESS MEDICAL DEVICES B2-B FORMULATIONS OTC (SUBSIDIARY)
Slide 10: Segment Wise Growth
consolidated Rs. in crores 12M'FY22 SEGMENT WISE GROWTH 1,000 ^26% ^46% 500 200 ^28% ^23% 125 400 858 419 750 100 169 106 150 500 683 300 75 86 200 287 100 131 50 250 100 50 25 0 0 FY21 FY22 FY21 FY22 0 0 FY21 FY22 FY21 FY22 API DIAGNOSTICS FORMULATIONS DR.MOREPEN -OTC
Slide 11: Segment Wise Breakup
standalone Rs. in crores 12M'FY22 SEGMENT WISE BREAKUP FY'21 FY'22 Formulations 11.7% API 62.0% 59.4% 2.60% Diagnostic Devices Diagnostics 29% 26.1% 29.0% 2.90% API 59.4% formulations 11.9% 11.7% 0.20% revenue split FY'22
Slide 12: API Business
API BUSINESS leadership through quality
Slide 13: API Revenue
api business Rs. in crores 12M'FY22 API REVENUE 1,000 ^26% ^37% 858 750 28% CAGR 683 250 500 200 474 150 413 250 100 50 171 235 0 0 Q4'FY21 Q4'FY22 FY'19 FY'20 FY'21 FY'22 Quarterly performance ANNUAL API Revenue
Slide 14: API Export
api business Rs. in crores 12M'FY22 API EXPORT 600 ^39% 553 21% CAGR 473 ^40% 400 200 341 150 309 100 ^31% 200 50 165 70 64% 0 0 Export Domestic FY'19 FY'20 FY'21 FY'22 Q4'FY22 revenue split exports FY22 ANNUAL API EXPORT
Slide 15: Continent Wise Growth
Rs. in crores api business 12M'FY22 CONTINENT WISE GROWTH 1009 customers +183 FY22 ^48% ^18% 300 ^7% 300 ^48% ^25% ^9% 125 125 40 25 100 100 125 270 299 39 20 30 101 108 200 252 200 32 21 75 75 203 20 15 19 50 68 50 100 100 10 10 5 25 25 0 0 0 0 0 0 FY21 FY22 FY21 FY22 FY21 FY22 FY21 FY22 FY21 FY22
Slide 16: Key API Products
api business KEY API PRODUCTS LORATADINE MONTELUKAST ^1% ^65% ATORVASTATIN NEW MOLECULES ^18% ^689%
Slide 17: Loratadine
api business Rs. in crores 12M'FY22 LORATADINE Others(18) S5 5.5% 1.6% 68% S3 4.3% S2 7.3% 165.58 143.44 S1 FY'22 9.9% export market share of Morepen out of india Morepen 68.1% 88% export out of India exports FY22
Slide 18: Montelukast
api business Rs. in crores 12M'FY22 MONTELUKAST Others(10) 5.2% S6 49% 3.5% S5 7.4% S4 165.58 5.6% Morepen 143.44 FY'22 49.2% S3 export market share 6.9% of Morepen out of india S2 7% S1 11.9% 41% export out of India exports FY22
Slide 19: Intellectual Property
api business INTELLECTUAL PROPERTY USA Europe Japan 140 130 patents DMFs korea China Taiwan Australia 13 33 china idls new products FY22: 5 patents - 1 dmfs - 3 new products
Slide 20: Medical Devices
MEDICAL DEVICES market leadership
Slide 21: Medical Devices Revenue Growth
medical devices Rs. in crores 12M'FY22 REVENUE GROWTH ^46% 500 ^9% 400 419 44% CAGR 75 300 287 50 200 168 39.93 25 100 140 63 68 0 0 Q4'FY21 Q4'FY22 FY'19 FY'20 FY'21 FY'22 Quarterly performance ANNUAL performance
Slide 22: Growth Drivers
medical devices GROWTH DRIVERS ^54% ^33% gluco meters BP Monitors
Slide 23: Gluco Meters
medical devices Rs. in crores 12M'FY22 GLUCO METERS 300 ^54% 279 ^10% 44% CAGR 200 50 180 40 30 100 120 93 20 10 42 46 0 0 Q4'FY21 Q4'FY22 FY'19 FY'20 FY'21 FY'22 Quarterly performance ANNUAL performance
Slide 24: Gluco Meters installed base and strips sold
medical devices GLUCO METERS 7.2 MILLION 900 MILLION meters installed strips sold so far Fy22 2.17 MILLION Fy22 300 MILLION
Slide 25: BP Monitors
medical devices Rs. in crores 12M'FY22 BP MONITORS 100 ^33% -31% 84 75 47% CAGR 20 63 50 15 10 25 29 27 5 11 8 0 0 Q4'FY21 Q4'FY22 FY'19 FY'20 FY'21 FY'22 Quarterly performance ANNUAL performance
Slide 26: Other Products
medical devices Rs. in crores 12M'FY22 OTHER PRODUCTS 60 ^28% 56 ^229% 47% CAGR 40 44 15 10 20 21 5 16 4 14 0 0 Q4'FY21 Q4'FY22 FY'19 FY'20 FY'21 FY'22 Quarterly performance ANNUAL performance
Slide 27: Formulations
FORMULATIONS branded & generic formulations
Slide 28: Formulations Gross Revenue
formulations Rs. in crores 12M'FY22 GROSS REVENUE 200 28% ^34% 169 150 153 138 131 40 100 30 20 50 10 29 39 0 0 Q4'FY21 Q4'FY22 FY'19 FY'20 FY'21 FY'22 Quarterly performance ANNUAL performance
Slide 29: Growth Drivers
formulations GROWTH DRIVERS ^66% ^46% antibiotics Gastro ^31% ^40% nutrition others
Slide 30: OTC, Health & Nutrition
Dr. Morepen® OTC, HEALTH & NUTRITION
Slide 31: OTC Gross Revenue
Rs. in crores 12M'FY22 GROSS REVENUE 125 ^23% 106 ^20% 100 25% CAGR 86 75 30 65 20 50 54 10 25 22 27 0 0 Q4'FY21 Q4'FY22 19% FY'19 FY'20 FY'21 FY'22 Quarterly performance Online FY22 ANNUAL performance
Slide 32: Growth Drivers
GROWTH DRIVERS ^10% ^273% TRADE on-line
Slide 33: Brand Portfolio
Rs. in crores 12M'FY22 BRAND PORTFOLIO OTC 750 ^36% Healthcare 15.4% 685 23.4% ^18% 24 % CAGR 500 504 150 Devices 371 100 61.2% 347 250 50 114 134 0 0 Q4'FY21 Q4'FY22 FY'19 FY'20 FY'21 FY'22 Quarterly performance ANNUAL performance
Slide 34: R&D Spend
morepen Rs. in crores 12M'FY22 R&D SPEND ^34% 15 Devices 6.5% 10 12.10 9.04 API 47.1% 5 Formulations 46.3% 0 FY'21 FY'22 segment-wise spend ANNUAL performance
Slide 35: Financial highlights & ratios
consolidated FINANCIAL highlights & ratios
Slide 36: Financial Highlights Q4'FY22
consolidated Rs. in crores Q4'FY22 FINANCIAL HIGHLIGHTS ^28% ^36% -37% -49% -54% -54% 400 400 40 30 30 0.6 371.46 300 349.61 30 34.56 26.76 0.59 300 27.63 290.76 20 20 0.4 200 200 256.19 20 21.85 10 14.18 0.2 0.27 100 100 10 10 12.32 0 0 0 0 0 0 Q4'FY21 Q4'FY22 Q4'FY21 Q4'FY22 Q4'FY21 Q4'FY22 Q4'FY2
Slide 37: Operating Ratios
consolidated Rs. in crores 12M'FY22 OPERATING RATIOS 4% -6% 2 ^24% -8% -19% 2 5 10 10 4.97 4.65 1.5 1.5 1.70 4 1,61 1.63 7.5 8.36% 7.5 3 7.66% 8.09% 1 1.30 1 5 5 6.53% 2 0.5 1 0.5 2.5 2.5 0 0 0 0 FY'21 FY'22 FY'21 FY'22 0 FY'21 FY'22 FY'21 FY'22 FY'21 FY'22 debtors inventory turnover *current operat
Slide 38: Financial Highlights
consolidated Rs. in crores 12M'FY22 FINANCIAL HIGHLIGHTS ^30% ^32% ^13% ^29% ^5% ^5% 2,000 1,500 150 150 125 2.5 146.98 1410.15 1,500 130.58 100 2 1557.13 100 126.70 101.68 2.15 2.26 1,000 1069.54 100 97.09 75 1.5 1,000 1200.12 98.51 50 50 1 500 50 500 25 0.5 0 0 0 0 0 0 FY'21 FY'22 FY'21 FY'22 FY'2
Slide 39: Balance Sheet Ratios
standalone Rs. in crores 12M'FY22 BALANCE SHEET RATIOS ^6% ^52% -50% ^35% -23% -34% 100 400 0.04 1,000 15 15 0.04 95.56 75 89.96 300 0.03 316.16 481.76 750 821.78 10 16.2% 10 11.1% 50 200 0.02 500 607.73 0.02 9.8% 12.6% 5 5 25 100 0.01 250 0 0 0 0 0 0 FY'21 FY'22 FY'21 FY'22 FY'21 FY'22 FY'21 FY'22
Slide 40: Thank you
Thank you
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