Ipca Laboratories Limited · NSE:IPCALAB
Ipca Laboratories — Investor Presentation (December 2023)
65 slides from Ipca Laboratories's investor presentation, December 2023
Slide 1: Ipca Laboratories Corporate Presentation December 2023
Ctipca Ipca Laborate Corporate Presentation December 2023
Slide 2: About Us
About Us i Incorporation Total Income FY 2022-23 | Employees 70+ =—- %6,369.94cs ; >16,000 | santo | "i years i facilities labs ——-US$794-Mn | |
Slide 3: Our Values
Qualiti Adhere to standards Safeti Ensure safety comes first Our Values i Values Integrit Comply with ethics & standards Digniti Value people Responsibiliti Facilitate good business practices
Slide 4: Five Years' Highlights (Standalone)
Five Years’ Highlights X Figures in Crores. Standalone Pan > 738.69 5,491.22 5,201.40 i (5699.20) (9737.38) 4,432.12 ($625.65) 3,687.74 3,282.39 ($520.57) %2,983.09 (5409.17) tae ($400.58) 2,288.37 (EBD 1,956.90 ($323.03) ($276.24) 2,717.19 2,508.13 $2,053 42 22,143.75 (5365.26) ($336.80) ($329.52)
Slide 5: Five Years' Highlights (Consolidated)
Five Years’ Highlights Consolidated X 26,369.94 5,896.36 ($794.06) 35,482.83 ($791.78) ($737.03) 4,715.71 ($665.68) 3,830.86 ($540.77) 3,391.07 2,963.06 3,077.75 ($422.72) 22,327.88 (5398.31) ($413.29) 1,956.90 (5328.61) ae 2,519.77 %2,818.61 22,978.87 2,387.83 ($338.72) ($378.49) (5371.34) 21,873.9
Slide 6: Manufacturing Facilities
Slide 7: Manufacturing Facilities (Formulations)
Manufacturing Facilities (Formulations) Dehradun Kandla (2 facilities) (B-lactum) New Delhi Jorethang (2 facilities) Ratlam B capital BW Corporate Office B® Formulations @ reo SEZ - Pithampur 1 | Mumbai Mumbai (Biotech) (R&D) Athal Piparia awn Pithampur (Biotech)
Slide 8: Manufacturing Facilities (Formulations) Locations and Approvals
Athal (Dadra & Nagar Haveli) Ratlam (Madhya Pradesh) Kandla (Gujarat) Silvassa (Dadra & Nagar Haveli) Dehradun (Uttarakhand) Indore (SEZ) (Madhya Pradesh) Sikkim Tarapur, Palghar (Maharashtra) Tablets & Capsules Tablets, Liquids, Dry Syrup, Injectables & Ointments Betalactum-Tablets, Capsules & Dry
Slide 9: Manufacturing
Manufacturing ee
Slide 10: Manufacturing Facilities (APIs)
Onyx Scientific (Sunderland, UK) Onyx Scientific (Sunderland, UK) a (R&D) a B capital ‘fe BD Corporate Office : ——_ ae, © apis @ rao #@ ] Genes Pisgah Labs Pisgah Labs (North Carolina, USA) (North Carolina, USA) (R&D) Baroda Ankleshwar | Wardha Manufacturing Facilities (APIs) Dewas Nandesari | § Aur
Slide 11: Manufacturing Facilities (APIs) Approvals
Manufacturing Facilities (AP\s) [ Location | Inspections / Approvals by Agencies of | e@ Ratlam (Madhya Pradesh) Australia, Brazil, Canada, EDQM, EU, India, Japan, Korea, Mexico, Russia, Slovenia, USA, WHO © Indore(MadhyaPradesh) Ila WHO @ Dewas (Madhya Pradesh) India © Ankleshwar (Gujrat) =U nia Ja
Slide 12: Revenue Break-up
Reveni ue el » Break- “up
Slide 13: Revenue Break-up
Revenue Break-up Standalone 2022-23 Total Total Revenue Exports Domestic 2022-23 2022-23 2022-23 2022-23 45% q 38% y 55% 62% e é e APIs Formulations | Export Domestic | APIs Formulations: APIs Formulations B® Formulations @ APIs B® Domestic © Exports B® Formulations @ APs @ Formulations @ APIs
Slide 14: Revenue Break-up
Revenue Break-up Standalone 2022-23 2021-22 %Crs | Domestic | Exports | Total | Domestic | Exports | Total Growth @ Branded Formulations 2760.71 504.79 3265.50 2508.27 415.99 2924.26 © Generic / Institution / " Tender Formulations = 1134.40 1134.40 2 1070.75 1070.75 @ Total Formulations 2760.71 1639
Slide 15: Financials
Slide 16: Financials Standalone
Financials Standalone FY 2022-23 FY 2021-22 Crs US$ Mn | [ XCrs US$ Mn | % Growth | @ Total Income 5925.81 739 5491.22 8% e EBIDT 1054.05 131 1259.52 @ EBIDT% 17.79% - 22.94% @ PBT 750.49 94 1074.11 @ PBT% 12.66% = 19.56% @ PAT# 505.70 63 860.37 @ PAT% 8.53% = 15.67% # After forex loss of $31.01 Crs
Slide 17: Financials Standalone Profitability
Financials Standalone Profitabilit [OO y 7 FY 2022-23 FY 2021-22 @ rsiot @ Pet WB PAT @ Point GB Pet @ PAT
Slide 18: Business Characteristics
Business Characteristics Return on Capital Employed % (PBIT / Capital Employed) Return on Net Worth % (PAT / Net Worth) Fixed Asset Turnover Ratio (Total Income / Net Fixed Assets) Capital Employed Turnover Ratio (Total Income / Capital Employed) Asset Coverage Ratio (to term loan) (Net Fixed Assets
Slide 19: Financials Standalone
Financials Standalone FY 2022-23 FY 2021-22 © Domestic Sales 9.3% 19.7% sipetss a8 @ PBIDT -16.3% -17.4% © Net Profit 41.2% 23.7%
Slide 20: Q1 FY 2024 vs Q1 FY 2023
Q1 FY 2024 Q1 FY 2023 RCrs USS Mn | [ Urs USS Mn | % Growth | © Total Income 1529.50 186 1496.24 193 2% @ EBIDT 284.28 35 269.27 35 @ EBIDT% 19.13% 2 18.21% = | @ PBT 249.58 30 211.39 27 @ PBT% 16.79% = 14.30% = | @ PAT# 166.58 20 140.07 18 @ PAT% 11.21% = 9.48% - P| 20 # After forex gain of €13.45
Slide 21: Q2 FY 2024 vs Q2 FY 2023
Q2 FY 2024 Q2 FY 2023 RCrs USS Mn | [ Irs USS Mn | % Growth | @ Total Income 1698.81 205 1530.16 192 11% @ EBIDT 346.77 42 281.74 35 @ EBIDT% 20.86% 2 18.85% = @ PBT 245.13 30 240.39 30 @ PBT% 14.74% = 16.08% = @ PAT# 162.13 20 165.63 21 # After forex gain of $1.50 Crs as against forex loss of 11.66
Slide 22: Financials Standalone Q3 FY 2024
Financials Standalone Q3 FY 2024 Q3 FY 2023 Crs US$ Mn | [ Crs US$ Mn | % Growth | @ Total Income 1523.72 183 1464.31 e EBIDT 279.48 34 227.10 @ EBIDT% 18.55% - 15.77% @ PBT 200.15 24 166.50 @ PBT% 13.28% = 11.56% @ PAT# 136.94 16 115.18 @ PAT% 9.09% = 8.00% # After forex loss of € 5.99 Crs as again
Slide 23: Financials Standalone Nine Months
Financials i Standalone 9 Months FY 2024 9 Months FY 2023 Irs US$ Mn | [ Irs US$ Mn | % Growth | © Total Income 4752.03 571 4490.71 547 6% @ EBIDT 910.08 109 778.11 95 @ EBIDT% 19.55% 2 17.63% = | @ PBT 694.86 83 618.28 75 @ PBT% 14.92% = 14.01% = @ PAT# 465.65 56 420.88 51 23 # After forex gain of
Slide 24: Financials Consolidated
Financials Consolidated FY 2022-23 FY 2021-22 Crs USS Mn | [ Crs US$ Mn | % Growth | e@ Total Income 6369.94 794 5896.36 8% e@ EBIDT 1083.77 135 1345.04 @ EBIDT% 17.01% - 22.81% @ PBT* 745.29 93 1135.72 @ PBT% 11.70% - 19.26% @ PAT# 471.32 59 884.08 @ PAT% 7.40% - 14.99% # After forex loss of $31.38
Slide 25: Business Characteristics Consolidated
Business Characteristics Return on Capital Employed % (PBIT / Capital Employed) Return on Net Worth % (PAT / Net Worth) Fixed Asset Turnover Ratio (Total Income / Net Fixed Assets) Capital Employed Turnover Ratio (Total Income / Capital Employed) Asset Coverage Ratio (to term loan) (Net Fixed Assets
Slide 26: Financials Consolidated
Financials Consolidated FY 2022-23 FY 2021-22 © Domestic Sales 9.5% 22.7% spots m8 @ PBIDT -19.4% -14.1% © Net Profit ~46.7% 22.4%
Slide 27: Q1 FY 2024 vs Q1 FY 2023 Consolidated
Q1FY 2024 Q1 FY 2023 Crs US$ Mn | [ Crs US$ Mn | % Growth | @ Total Income 1630.06 198 1607.85 208 1% e EBIDT 294.33 36 283.46 37 @ EBIDT% 18.57% - 17.88% = | @ PBT 251.82 31 222.69 29 @ PBT% 15.89% = 14.04% = | @ PAT# 162.82 20 143.06 18 @ PAT% 10.35% > # After forex gain of $13.49 Crs as against f
Slide 28: Q2 FY 2024 vs Q2 FY 2023 Consolidated
Q2 FY 2024 Q2 FY 2023 RCrs USS Mn | [ Irs USS Mn | % Growth | e@ Total Income 2072.51 251 1637.18 205 27% @ EBIDT 358.77 43 272.23 34 @ EBIDT% 17.64% 2 17.00% - @ PBT 225.36 27 223.82 28 @ PBT% 11.08% = 13.98% = @ PAT# 145.06 18 143.90 18 # After forex gain of €1.79 Crs as against forex loss of $11.
Slide 29: Q3 FY 2024 vs Q3 FY 2023 Consolidated
Q3 FY 2024 Q3 FY 2023 RCrs USS Mn | [ Irs USS Mn | % Growth | e@ Total Income 2075.31 251 1576.89 198 32% @ EBIDT 330.97 40 231.93 29 @ EBIDT% 16.12% 2 15.00% = | @ PBT 288.89 35 169.34 21 @ PBT% 14.07% = 10.95% = | @ PAT# 179.88 22 107.84 14 @ PAT% 8.76% = 6.98% = P| 2 # After forex gain of € 0.36C
Slide 30: Financials Consolidated Nine Months
Financials Consolidated 9 Months FY 2024 9 Months FY 2023 Crs US$ Mn | [ Crs US$ Mn | % Growth | @ Total Income 5777.88 699 4821.92 e EBIDT 983.62 119 787.62 @ EBIDT% 17.34% - 16.64% @ PBT 766.07 93 615.85 @ PBT% 13.51% = 13.01% @ PAT# 487.76 59 394.80 @ PAT% 8.60% = 8.34% # After forex gain of € 15
Slide 31: Contribution of Therapeutic Groups
© Cardiovasculars®& Anti-Diabetics © Anti-Malarials © ‘NeuroPsychiatry e 3% 3% © Dermatology © Neutraceuticals Le es Financials Standalone Contribution of Therapeutic Groups © Cardiovasculars®& Anti-Diabetics © Anti-Malarials © ‘NeuroPsychiatry e 5% ™% © Dermatology e - - © Neutraceuticals e 2 2 Ls
Slide 32: Branded Formulations Domestic
Branded I Formulations Domest ‘
Slide 33: Branded Formulations Domestic
Branded Formulations i Domestic 21 Market leaders in All india Rank 1QVIA Therapy Focused Over 4000 Rheumatoid Arthritis 16" (MAT Dec’23) Marketing Divisions Wholesalers & Anti-malarials ® @ 24 Depots & Field Strength 5 brands among ‘1 C&F agent (PSR / BA)-6320 top 300 brands (Zerodol-SP, Zerodol-P,
Slide 34: Branded Formulations Domestic Sales
Branded Formulations Domestic 2760.71 3000 2508.27 ($344 Mn) ($337 Mn) 2500 1912.61 =1981.67 2000 ($270 Mn) ($266 Mn) 1500 1000 500 —O- 022-2 0 1 1 1 1 2019-20 2020-21 Ss 2019-20 2020-21 2021-22 2022-23 y pai Figures in Crores. Sales
Slide 35: Future Growth Drivers Domestic
Branded Formulations Domestic Future Growth Clinical research as a tool to launch innovative combination Drivers formulations / NDDS. rail '—® Strong brand building with focused promotion. © In-licensing / out-licensing to build business in the promoted therapy. Portfolio optimisation, strategies to
Slide 36: International
Interna ational
Slide 37: International Business
International Business i Q Recognised _-t Field-force to promote brands © Star Trading gu in more than Registrations in House 30 countries 58 countries Products of the company 42% sales & Marketing offices in are now exported to over From exports By 12 countries 100 countries ° across the globe
Slide 38: International Business Sales
International Business 3000 2717.19 2643.42 ($365 Mn) veer ($330 Mn) 2500 2143.75 ($303 Mn) 2000 1500 1000 500 —O- 2022-2 0 1 1 1 2019-20 2020-21 \ 2019-20 2020-21 2021-22 2022-23 ) 2021-22 Figures in Crores. Sales
Slide 39: Continent-wise Exports 2022-23
International Business i Continent-wise Exports 2022-23 (%Crs) Continent Formulations APIs | Total | % Contribution | © Europe 486.11 273.53 759.64 29% © Africa 416.76 55.05 471.81 18% © Americas 163.17 297.79 460.96 17% © Asia 110.82 341.52 452.34 17% eds 188.44 32.53 220.97 8% © Australasia 273.89
Slide 40: International Formulations
Slide 41: International Formulations Sales
International Formulations XN 1639.19 1597.19 ($204 Mn) ($215 Mn) 1486.74 ($200 Mn) 21221.55 ($172 Mn) 2019-20 2020-21 2021-22 2022-23 ~ w —O- 022-2 2019-20 2020-21 2021-22 Figures in Crores. Sales
Slide 42: International Branded Formulations
International - . ‘mulations s 2 ‘ \ uN
Slide 43: International Branded Formulations Sales
International Branded Formulations (— > HEU 504.79 510 ($63 Mn) 490 470 450 430 415.99 =403.42 ($56Mn) 410 ($54 Mn) 381.53 390 ($54Mn) 370 350 —O- 022-2 330 1 1 1 1 2019-20 L 2019-20 2020-21 2021-22 2022-23 O- 200 Figures in Crores. Sales
Slide 44: Future Growth Drivers International Branded
Future Growth Drivers ral International Branded Formulations Thrust on brand building in Pain, CVS, CNS, Anti-infective and Anti-malarial segments. Geographical expansion in covered countries through additional field force. Expansion in business lines - Institutions and Distributors. Introduction of
Slide 45: International Generics / Institution / Tender
Slide 46: International Generics / Institution / Tender
International Generics / Institution / Tender ( >) Count Products Products Under 1400 er ountry Registered Registration 1200 (5160Mn) sae United Kingdom / 1070.75 a Europe 4 7 ($144 Mn) 1000 =840.02 Australia / B 3 ($119 Mn) New Zealand 800 South Africa 53 10 600 United States / 38 4 400 Canada 200
Slide 47: International Generics Future Growth Drivers
International Generics Future Growth Drivers Dossiers developed by company approved in UK are being taken for registration in other EU countries. al Formulations registered to be backed by own API. Sale of generic dossiers with or without supply agreements. Contract manufacturing arrangements. Futur
Slide 48: International APIs
Interna tonal
Slide 49: International APIs Sales
International APIs ( 1120.00 >) 1200 ($151 Mn) eee? %1004.23 137 Mn ($125 Mn) 922.20 1000 ($130 Mn) 800 600 400 200 —O- 2022-2 0 1 1 1 2019-20 2020-21 \ 2019-20 2020-21 2021-22 2022-23 ) 2021-22 Figures in Crores. Sales
Slide 50: APIs - Drug Master Files
International APIs - Drug Master Files on DME. | Name of the API spa | nate | wHo | 7aParr | justralia —EQDM 1 1 Alendronate Sodium g c - v7) - @ 2 2 Allopurinol @ @ = = CEP @ 3 3 Amlodipine Besylate g 2 - - - i} 4 Amlodipine Besylate (AK4 Process) - - - - - g@ 4 5 Amodiaquine HCI - a gq - - - 5 6 A
Slide 51: APIs - Drug Master Files
API | DMF Sr. No. | Sr. No. 11 12 12 13 13 14 14 15 16 15 7 16 18 19 7 20 18 21 19 22 Name of the API Benzarone Benzbromarone Bisoprolol Fumarate Carvedilol Cetrizine Hydrochloride (CZ Process) Cetrizine Hydrochloride (CZ5 / CZ6 Process) Chloroquine Phosphate Chlorthalidone (CT3 / C17 Process) Chlor
Slide 52: APIs - Drug Master Files
International APIs - Drug Master Files on DME. | Name of the API spa | Gnade | wHo | Japa | pustralia | EQDM 23 Etodolac (ED6 Process) g@ : - - - . 20 24 Etodolac(ED7 Process) @ 3 - - 7) si 25‘ Famotidine - a 5 g - g 26 Famotidine (FM3 Process) - - - - - () 22 27 ‘Fenofibrate - - - - - (7) 2B 28 Flu
Slide 53: APIs - Drug Master Files
International APIs - Drug Master Files An | DME | Name of the API spa | Gnade | wHo | Japa | pustralia | EQDM 33 Hydrochlorothiazide (Process |) g g = g CEP () 27 34 Hydrochlorothiazide (Process II) g@ - = 2 - (7) 35 Hydrochlorothiazide (Process III) - - - - () 28 36 Hydroxychloroquine Sulphate @ @
Slide 54: APIs - Drug Master Files
API | DMF Sr. No. | Sr. No. 34 44 35 45 36 46 47 37 48 49 38 50 39 51 40 52 53 4) 54 Name of the API Lumefantrine Meloxicam Mesalamine (MZ4 Process) Mesalazine Mesalazine (MZ4B Process) Metformin HCL (ML Process) Metformin HCL (ML2 Process) Methylphenidate HCI Metoclopramide Base Metoclopramide HCI
Slide 55: APIs - Drug Master Files
API | DMF Sr. No.| Sr. No. 42 55 B * 57 44 58 45 59 46 60 47 61 48 62 49 63 50 64 51 65 Name of the API Metoprolol Succinate Metoprolol Tartrate Metoprolol Tartrate (03 / 05 Process) Midodrine Hydrochloride Nabumetone Nifedipine Olanzapine Ondansetron Base Ondansetron Hydrochloride Paroxetine HCI Pi
Slide 56: APIs - Drug Master Files
API | DMF Sr. No.| Sr. No. 52 66 53 67 54 68 55 69 56 70 57 7 58 2 59 B 60 74 61 75 62 76 Name of the API Primaquine Phosphate Probenecid Proguanil Hydrochloride Promethazine Hydrochloride Propranolol HCI Pyrantel Embonate Pyrantel Pamoate Pyrimethamine Quetiapine Fumarate Ractopamine HCI Risedronat
Slide 57: APIs - Drug Master Files
International APIs - Drug Master Files API-DMFs Filed as on Dec'23 (Based on DMFs Sr. No.) API | DMF Canada- Japan- . Sr. No.| Sr. No. Name of the API US-FDA HPFB WHO PMDA Australia EQDM | 78 Telmisartan > 2 - - - 64 ° 79 Telmisartan (WT3A Process) eo 81 Tramadol Hydrochloride 66 82 Tramadol Hydroch
Slide 58: APIs - Drug Master Files
API-DMFs Filed as on Dec'23 (Based on DMFs Sr. No.) International APIs - Drug Master Files API | DMF 7 Canada- Japan- . | (<A No. Ee Sr.N al Name of the API | US-FDA HPFB | WHO | PMDA | Australia | EQDM 88 Valsartan (VA2 Process) - Vv) - - - . 69 89 Valsartan (VA6 Process) @ - - - - Gq 70 90 — Venla
Slide 59: International APIs Future Growth Drivers
International APIs -—® Consolidate API business of Sartans across the globe. Future Growth Drivers —e Long term strategic tie-ups with major South American / European formulators. Leverage the customer base of more than 1000 customers spread across 90 _A countries is well laid down platform to intro
Slide 60: Research & Development APIs & Formulations
Slide 61: Research & Development Spending
Research & Development APIs & Formulations (— 156.49 >) 160 146.46 2.71% 4.00% Year | Crs | %to Sales | 140 126.67 3.50% 2018-19 89,35 2.50% 2.49% 120 €89,35 €101.04 3.00% 2019-20 101.04 2.35% 2.50% 2.35% , og 2.50% 3020-21 126.67 2.49% 80 2.00% 2021-22 141.46 2.63% 60 1.50% 0 1.00% 2022-23 156.49 2
Slide 62: Research & Development APIs & Formulations
Research & Development APls & Formulations -—® Current scientist manpower of 550+. Research focus on developing APIs with non-infringing process and development of finished dosage forms. Development of NDDS for domestic and international market. 248 patent applications filed. Biotech / fermentation
Slide 63: Inception of Advanced Biotech Lab
Inception of Advanced Biotech Lab Biosimilar R&D -—® Established “state-of-the-art” R&D in 2015 for Mammalian based mAbs Capable ofin-house development from “Clone to Commercialization” Single-use cGMP Bio-manufacturing Facility (DS+DP) is being established and to be ready by August 2024 —e Scientif
Slide 64: Strong Biosimilar Pipelines
Strong Biosimilar Pipelines i Molecules: Anti-cancer and Anti-inflammatory mAbs Stage of Development * 6 monoclonal antibodies (mAbs) in various Molecules ‘Development Pre-clinical |inical Trials MAR Launch) stages of the development UK/IN/EU Target markets India, UK, EU, ROW followed by USA SAL ts
Slide 65: Forward-looking statements disclaimer
hs presentation ANY forward ok n <A) based on ourcurrentbusiness expectations. Ouractual resultsmay. difer What is projected in this corporate f presentation: ‘The viewers of this presentation may use their own judgment and calculation remaking A decision Ree RKC hasedon the information given herein
Ipca Laboratories — Investor Presentation (December 2023) on 6ix