Jubilant Pharmova Limited · NSE:JUBLPHARMA
Jubilant Pharmova — FY2023 Earnings Presentation
34 slides from Jubilant Pharmova's earnings presentation, May 2023
Slide 1: Financial Results Quarter and Full Year Ended March 31, 2023
Financial Results Quarter and Full Year Ended March 31, 2023 May 2023
Slide 2: Disclaimer
Disclaimer Statements in this document relating to future status, events, or circumstances, including but not limited to statements about plans and objectives, the progress and results of research and development, potential product characteristics and uses, product sales potential and target dates f
Slide 3: Jubilant Pharmova is uniquely positioned to create sustained Shareholder Value
Jubilant Pharmova is uniquely positioned to create sustained Shareholder Value An integrated global Over 5,700 people globally, 6 manufacturing facilities Strong position in Radio- pharmaceuticals and contract including over 2,100 in catering to regulated markets pharmaceuticals, Allergy research co
Slide 4: H2'FY23 highlights
H2’FY 23 highlights Revenue growth in majority businesses driven by strong sales capabilities and differentiated product offerings USFDA approval of Mertiatide and Ruby Fill Mobile for Radiopharma businesses. Continued investment to further strengthen our innovation pipeline across business US
Slide 5: Business Structure
Business Structure Jubilant Pharmova Limited CDMO Sterile Allergy Proprietary Radiopharma CRDMO Generics Injectables Immunotherapy Novel Drugs Radiopharmaceuticals Radiopharmacies Drug Discovery CDMO - API Services 4
Slide 6: FY23 – Segment Wise Revenue Split
FY23 – Segment Wise Revenue Split Allergy Immunotherapy 10% Generics Radiopharma 12% 41% CDMO Sterile Injectables 18% CRDMO 19% 5
Slide 7: Business Snapshot
Business Snapshot • #3 radiopharmaceutical • Leading contract manufacturer • Manufacturing facilities at Roorkee, • Manufacturing facility at manufacturer in the US for Sterile Injectibles India and Salisbury, US Nanjangud, India • Manufacturing facility • Differentiated technologies, viz. • Focus o
Slide 8: High-Quality, World-Class Manufacturing Footprint and Operational Facilities
High-Quality, World-Class Manufacturing Footprint and Operational Facilities Biosys Gr. Noida Facility Spokane, Washington, USA Contract manufacturing of Sterile injectable and Allergy therapy Roorkee, Uttarakhand Generics manufacturing Noida Montreal, Canada Corporate Office Contract Manufact
Slide 9: Financial Highlights Q4 & FY'23
Financial Highlights Q4 & FY’23 Jubilant Pharmova Limited
Slide 10: Financial Results Overview Q4'FY23 - Consolidated
Financial Results Overview Q4’FY23 Figures in Rs Crs - Consolidated Particulars Q4'FY22 Q3'FY23 Q4'FY23 Total Revenue from Operations 1,528 1,553 1,678 Reported EBITDA 244 155 224 EBITDA Margin 16.0% 10.0% 13.3% Impairment of Intangible Assets1 6 0 171 Profit Before Tax 106 9 (86) Normalised Profit
Slide 11: Financial Results Overview FY23 - Consolidated
Financial Results Overview FY23 Figures in Rs Crs Particulars FY22 FY23 - Consolidated Total Revenue from Operations 6,130 6282 Reported EBITDA 1,168 815 EBITDA Margin 19.0% 13.0% Impairment of Intangible Assets1 15 171 Exceptional Items 0 57 Profit Before Tax 630 28 Normalised Profit Before Tax2 64
Slide 12: Q4 & FY23 - Adjusted Financials
Q4 & FY23 - Adjusted Financials Figures in Rs Crs Particulars Q4'FY23 Q3'FY24 Q4'FY24 FY22 FY23 Total Revenue from Operations 1,528 1,553 1,678 6,130 6,282 Reported EBITDA 244 155 224 1,168 815 EBITDA Margin 16.0% 10.0% 13.3% 19.0% 13.0% Adjusted Revenue 1,512 1,521 1,678 5,412 6,162 Adjusted EBITDA
Slide 13: Key Ratios FY23 - Consolidated
Key Ratios FY23 - Consolidated Figures in Rs Crs Particulars FY22 FY23 Net Debt (Constant Currency) 1,954 2,193 Net Debt to Equity 0.37 0.41 Net Debt to EBITDA 1.67 2.69 Net Working Capital 1,397 1,276 12
Slide 14: Financial Highlights Radiopharmaceuticals
Financial Highlights Radiopharmaceuticals Figures in Rs Crs Particulars Q4'FY22 Q3'FY23 Q4'FY23 FY22 FY23 Revenue 224 213 215 820 872 % of Company 15% 14% 13% 13% 14% Revenue EBITDA 139 109 100 436 465 EBITDA Margin (%) 62.1% 51.0% 46.6% 53.2% 53.3% 13
Slide 15: Radiopharmaceuticals Key Priorities
Key Priorities Radiopharmaceuticals • Maintain leadership position in stable high margin core portfolio in North America, e.g., lung functional imaging and thyroid targeted radiotherapeutics • Innovation leader in PET cardiac imaging through proprietary RUBY-FILL (best in class cardiac imaging produ
Slide 16: Financial Highlights Radiopharmacies
Financial Highlights Radiopharmacies Figures in Rs Crs Particulars Q4'FY22 Q3'FY23 Q4'FY23 FY22 FY23 Revenue 342 400 475 1,303 1,681 % of Company 22% 26% 28% 21% 27% Revenue EBITDA (26) (45) (4) (131) (87) EBITDA Margin (%) (7.6%) (11.2%) (0.9%) (10.1%) (5.1%) 15
Slide 17: Radiopharmacies Key Priorities
Key Priorities Radiopharmacies • Accelerate sales of high growth new products, e.g., Ga-PSMA, and to further gain market share in existing SPECT products • Maintain current momentum of strong growth in merchant sales • Leverage existing cyclotrons to capture share of PET product growth • Additionall
Slide 18: Financial Highlights Allergy Immunotherapy
Financial Highlights Allergy Immunotherapy Figures in Rs Crs Particulars Q4'FY22 Q3'FY23 Q4'FY23 FY22 FY23 Revenue 129 147 170 489 603 % of Company 8% 9% 10% 8% 10% Revenue EBITDA 36 53 55 164 206 EBITDA Margin (%) 27.8% 36.3% 32.6% 33.5% 34.1% 17
Slide 19: Allergy Immunotherapy Key Priorities
Key Priorities Allergy Immunotherapy • #2 player in US Sub-Cutaneous Immunotherapy market (Venom and Non-Venom) of >$200M. High barriers to entry as products are branded biologicals with regulatory approvals grandfathered in • Further strengthen the prescriber base for Venom immunotherapy in the US
Slide 20: Financial Highlights CDMO Sterile Injectables
Financial Highlights CDMO Sterile Injectables Figures in Rs Crs Particulars Q4'FY22 Q3'FY23 Q4'FY23 FY22 FY23 Revenue 288 272 321 1,334 1,155 % of Company 19% 17% 19% 22% 18% Revenue EBITDA 78 56 86 613 345 EBITDA Margin (%) 27.3% 20.7% 26.7% 46.0% 29.9% Adjusted Revenue 276 272 321 881 1,063 Adjust
Slide 21: CDMO Sterile Injectables Key Priorities
Key Priorities CDMO Sterile Injectables • Global Fill and Finish Sterile Injectable markets of USD 13Bn, with double digit growth rate projected over next 5 years • Focus is on-time and at-cost execution of USD 370Mn capacity expansion in Spokane and Montreal, to double the CMO capacity over next 5+
Slide 22: Financial Highlights Generics
Financial Highlights Generics Figures in Rs Crs Particulars Q4'FY22 Q3'FY23 Q4'FY23 FY22 FY23 Revenue 221 223 199 1,157 762 % of Company 14% 14% 12% 19% 12% Revenue EBITDA (24) (36) (39) (57) (230) EBITDA Margin % (11.1%) (16.2%) (19.6%) (4.9%) (30.3%) Adjusted Revenue 216 191 199 892 733 Adjusted E
Slide 23: Generics Key Priorities
Key Priorities Generics • Continue quality improvement initiatives and engagement with the US FDA for resolution of Import Alert at the Roorkee facility. • Salisbury site is compliant with US FDA. Roorkee site is compliant with other key non-US markets, e.g., MHRA, Japan, South Africa, Canada. • Foc
Slide 24: Financial Highlights Drug Discovery Services
Financial Highlights Drug Discovery Services Figures in Rs Crs Particulars Q4'FY22 Q3'FY23 Q4'FY23 FY22 FY23 Revenue 142 123 131 457 522 % of Company 9% 8% 8% 7% 8% Revenue EBITDA 53 37 35 169 164 EBITDA Margin 37.6% 29.8% 26.3% 37.0% 31.5% 23
Slide 25: Drug Discovery Services Key Priorities
Key Priorities Drug Discovery Services • Leverage state of the art infrastructure and differentiated technical know-how, e.g., Integrated Drug Discovery, DMPK to drive new customer acquisitions in drug discovery. • Continue to invest in capabilities for improving productivity, speeding up time to ma
Slide 26: Financial Highlights CDMO - API
Financial Highlights CDMO - API Figures in Rs Crs Particulars Q4'FY22 Q3'FY23 Q4'FY23 FY22 FY23 Revenue 176 168 163 548 662 % of Company 12% 11% 10% 9% 11% Revenue EBITDA 20 2 12 61 35 EBITDA Margin (%) 11.2% 1.4% 7.3% 11.2% 5.3% VAI : Voluntary Action Indicated 25
Slide 27: CDMO - API Key Priorities
Key Priorities CDMO - API • In March 2023, the API plant at Nanjangud saw reversal of OAI status to compliant VAI status from USFDA, driven by Quality Improvement Initiatives at site. • Going forward, focus is to drive higher capacity utilization including through launch of new products and by acqui
Slide 28: Financial Highlights Proprietary Novel Drugs
Financial Highlights Proprietary Novel Drugs Figures in Rs Crs Particulars Q4'FY22 Q3'FY23 Q4'FY23 FY22 FY23 Total Revenue - - - 2 4 EBITDA -12 -8 -10 -35 -35 27
Slide 29: Proprietary Novel Drugs Key Highlights & Priorities
Key Highlights & Priorities Proprietary Novel Drugs • Clinical stage precision therapeutics business advancing potent and selective small molecules to address unmet medical needs in oncology and autoimmune diseases • Wholly owned assets; opportunities to explore institutional funding, as well as max
Slide 30: Business Enablers
Business Enablers Jubilant Pharmova Limited 29
Slide 31: Sustainability continues to be an important focus area for us
Sustainability continues to be an important focus area for us Participated in S&P DJSI Assessment: - Achieved 94 percentile in the Global Pharmaceutical Industry - Among the top 6% companies - Received Gold Rating globally - Among top 4 Indian Pharma - Achieved 92 percentile (Score companies in ESG
Slide 32: Annexure
Annexure Jubilant Pharmova Limited
Slide 33: Segment Financial Results Overview | Consolidated
Segment Financial Results Overview | Consolidated Figures in Rs Crs Segment Revenue Q4'FY22 Q3'FY23 Q4'FY23 FY22 FY23 1.Radiopharma 566 613 689 2,123 2,552 Radiopharmaceuticals 224 213 215 820 872 Radiopharmacies 342 400 475 1,303 1,681 2. Allergy Immunotherapy 129 147 170 489 603 3. CDMO Sterile In
Slide 34: For more information
For more information For Investors: Vineet V Mayer Siddharth Rangnekar Jubilant Pharmova Limited CDR India Ph: +91 120 436 1103 Ph: +91 +91 9769919966 E-mail: Vineet.mayer@jubl.com E-mail: siddharth@cdr-india.com For Media: Sudhakar Safaya Clayton Dsouza Ph: +91 120 436 1062 Madison Public Relations