Laurus Labs Ltd. · NSE:LAURUSLABS
Laurus Labs — Q3 FY2025 Earnings Presentation
31 slides from Laurus Labs's earnings presentation, Jan 24, 2025
Slide 1: Investors / Analysts Presentation cover letter
LAURUSLabs Chemistry for Better Living January 24, 2025 To To The Corporate Relations Department The Listing Department BSE Limited National Stock Exchange of India Ltd., Phiroze Jeejeebhoy Towers, Exchange Plaza, Dalal Street, Bandra Kurla Complex, Bandra (E), Mumbai – 400 001 Mumbai – 400 051 Code
Slide 2: Q3 & 9M-FY 2025 Financial Results
LAURUSLabs Chemistry for Better Living Q3 & 9M-FY 2025 Financial Results 24/01/2025 © 2024 Laurus Labs Ltd.
Slide 3: Safe Harbor Statement
Safe Harbor Statement - This presentation contains statements that constitute “forward looking statements” including and without limitation, statements relating to the implementation of strategic initiatives, and other statements relating to our future business developments and economic performance.
Slide 4: Agenda
Agenda 1 Q3 & 9M FY 2025 Corporate Overview 2 Q3 & 9M FY 2025 Financial Overview 3 Q3 & 9M FY 2025 Business Review & Strategy 4 Outlook © 2024 Laurus Labs Ltd. Q3 & 9M - FY25 Results Presentation 24/01/2025 3
Slide 5: Corporate Overview
1 Corporate Overview Q3 & 9M FY 2025 4
Slide 6: Executive Summary
Executive Summary - • Performance remain on track to deliver Full Year growth with further Q4 revenues acceleration driven by planned project deliveries; ₹ 3,834 Cr Revenues in 9M and 6% revenues growth • Strengthening operational performance in CMO/CDMO with continued demand for complex API capabil
Slide 7: Eight Roads co-invest in Laurus Bio – Fostering sustainable growth
Eight Roads co-invest in Laurus Bio – Fostering sustainable growth - Deal details Subsidiary Laurus Bio signed definitive agreement on 6 Dec’24, to raise equity investment of ₹ 120 Cr from Eight Roads Ventures and F-Prime Capital. In addition, Laurus Labs has also agreed to co-invest an additional ₹
Slide 8: +80% CAPEX invested to support growth; execution ramping up
+80% CAPEX invested to support growth; execution ramping up - Targeting Average asset turnover levels Significant allocation in high return API / over next 3 years CDMO projects supported by integrated DP • Significant CAPEX allocation prioritized ------1 Asset towards attractive segments (large sca
Slide 9: Growing network of 'D & M' Sites; Offers unique Flexibility and Integrated supplies
Growing network of ‘D & M’ Sites; Offers unique Flexibility and Integrated supplies - R&D center Small Molecules 15 D&M Sites Kilolab Unit, Hyderabad Unit 1 & 3, Visakhapatnam 3600 KL 4 Sites under Expansion DS Development • New R&D - Hyderabad 1 API/DS Manufacturing Unit 5, Visakhapatnam 161 KL •••
Slide 10: Financial Overview
2 Financial Overview Q3 & 9M FY 2025 9 LAURUSLabs Chemistry for Better Living
Slide 11: Financial Performance 3Q/FY25
Financial Performance 3Q/FY25 - 3Q/FY25 Consolidated Financials Comments [₹Crore] 2Q/FY25 3Q/FY25 3Q/FY24 Y-o-Y Q-o-Q • Revenues : ₹ 1,415Cr, increased by 18% driven by Strong delivery in CDMO Revenues 1,224 1,415 1,195 +18% +16% and FDF division, partially compensated for API sales decline Gross Ma
Slide 12: Financial Performance 9M/FY25
Financial Performance 9M/FY25 - 9M/FY25 Consolidated Financials Comments [₹Crore] 9M/FY25 9M/FY24 Y-o-Y • Revenues : ₹ 3,834 Cr, increased 6% primarily driven by strong CDMO while Revenues 3,834 3,601 +6% non-ARV generics growth offset by lower ARV business Gross Margins 55.8% 52.5% +3.3% • Gross Ma
Slide 13: Summary Quarter Performance
Summary Quarter Performance -Revenues EBITDA & Gross Profit Margins [₹ Cr] 900 [₹ Cr] 60.0% 800 54.3% 55.1% 11 55.2% II 56.9% 1+ GPM 1,440 1,415 700 49.7% II50.6% II 52.5% II II49.8% I I 50.0% 1,381 600 1,224 1,195 1,195 1,224 40.0% 1,182 500 20.8% 30.0% 20.1% OPM 400 18.0% 300 I I14.2% I I15.4% 11
Slide 14: Business Review & Strategy
3 Business Review & Strategy Q3 & 9M FY 2025 13
Slide 15: Business Performance 3Q/FY25
Business Performance 3Q/FY25 - 3Q/FY25 Divisional Revenue Performance CDMO: Up +89% on new assets ramp-up and advancing clinical projects [₹ Crore] 2Q/FY25 3Q/FY25 3Q/FY24 Y-o-Y Q-o-Q further accelerating growth. New R&D facility with advanced CDMO 299 400 212 89% 34% capability meets strong market
Slide 16: Business Performance 9M/FY25
Business Performance 9M/FY25 - 9M/FY25 Divisional Revenue Performance CDMO: Up +33% driven by continued uptake with new assets ramping up [₹ Crore] 9M/FY25 9M/FY25 Y-o-Y and execution on clinical pipeline. Committed to 2025 growth CDMO-Synthesis 913 686 33% outlook, supported by scheduled project de
Slide 17: CDMO – Enhancing platform advantage; Growth outlook intact
CDMO – Enhancing platform advantage; Growth outlook intact - Revenue Growth Comments [₹ Cr] Y-o-Y ▲ 89% • Sustained demand for difficult-to-make small molecules +33% Q-o-Q ▲ 34% • 9M growth reflects continued uptake with new assets ramping 913 up and execution on clinical pipeline 686 • Committed to
Slide 18: CDMO – Other key updates
CDMO – Other key updates - • Small molecules CDMO pipeline healthy; Working on +70 active projects including several breakthrough designated Active projects including several molecules (10 commercial incl. APIs + intermediates) 70+ Active projects breakthrough including several designated molecules
Slide 19: API – Soft; Q/Q Order intake healthy
API – Soft; Q/Q Order intake healthy - Revenue Growth API Sales mix - [₹ Cr] -3% 1800 Y-o-Y ▼ 7% 9% 8% 1752 15% 20% 18% Q-o-Q ▼ 5% 25% 24% 33% 26% 25% ■ Onco API ■ Other API 745 664 ■ ARV API 574 557 531 60% 60% 66% 59% 61% r r r r r 9M 9M 3Q 4Q 1Q 2Q 3Q 3Q 4Q 1Q 2Q 3Q FY24 FY25 FY24 FY24 FY25 FY25
Slide 20: FDF – Strong progression across portfolio improves YTD performance
FDF – Strong progression across portfolio improves YTD performance - Revenue Growth Global Filings [₹ Cr] +5% * Includes 14 Tentative 68 approvals in US Y-o-Y ▲ 19% 10 1038 984 Q-o-Q ▲ 33% 43 8 430 436 22 58 367 328 18 274 35 3 7 15 15 T T T T 9M 9M 3Q 4Q 1Q 2Q 3Q US EU Canada ROW FY24 FY25 FY24 FY2
Slide 21: BIO – Healthy underlying growth; Continued positive market demand
BIO – Healthy underlying growth; Continued positive market demand - Revenue Growth Comments [₹ Cr] Y-o-Y ▲ 14% • Healthy underlying 9M revenue performance excluding impact of Q-o-Q ▲ 20% advanced shipments last year and discontinued low margin non- core nutrition business 131 131 • ₹ 120 Cr equity i
Slide 22: Transformative technologies – updates
Transformative technologies – updates - Cell therapy TM • Encouraging data (efficiency/safety) for NexCAR* 2nd GMP CAR-T D&M site- mid 2025 NexCAR19 Actalycabtagene autoleucel presented at ASH 2024 • Focus continues on expanding CAR-T utilization and increasing therapy share, in partnership with age
Slide 23: Maintain the Highest Global standard Quality systems
Maintain the Highest Global standard Quality systems - 1225+ Quality audits & Inspection “One Quality Standard for all Markets” Global Customers, Regulatory Authorities since inception lllllllE:: Last US FDA inspection Key Key Regulatory # audits (since Date EIR Status 50+ Inspection passed by major
Slide 24: R&D capabilities – Continue to push forward on sustainable solution
R&D capabilities – Continue to push forward on sustainable solution - Accelerate adoption of sustainable technology • Continuous Flow and Bio-catalysis platform continues to be ,,,,""'-- Offer high Quality one-stop CMO/CDMO solution ,, solidified across multiple projects, delivering clear advantages
Slide 25: R&D – Focused pipeline build-up continues
R&D – Focused pipeline build-up continues - Investing in Portfolio with Product Specific Approach Diverse pipeline with 83 product filings and 65^ based on Complexity and Scale to continue approvals across US, Canada and EU 500 ■ R&D spends (₹ Cr) As % to Sales 6% ■ ARV ■ Anti- Diab. ■ CVS ■ CNS ■ O
Slide 26: Outlook
4 Outlook 25
Slide 27: CDMO business environment; Major trends
CDMO business environment; Major trends - • Small molecules remains dominant modality representing +70% 1 of novel drug approval, global development show no signs of slowing • Continued demand in small molecule CDMO service across health industry • Demand for specialized expertise with rising number
Slide 28: Laurus Strategic Action Areas – Improve Customer focus and strengthen position
Laurus Strategic Action Areas – Improve Customer focus and strengthen position - Strategic Action Areas Research-driven operational excellence to deliver Optimized delivery of state-of-the-art Large scale Value through Integrated service ecosystem (across manufacturing sites (fungible) ensuring our
Slide 29: Confirming FY 2025 Outlook
Confirming FY 2025 Outlook - Revenues ■ Base business ■ PO ^ Indicative FY25 - Not to scale • Growth drivers: - Leverage recognized platform capabilities to deliver Medium to +9% core long term contracts and commercial opportunity in late-phase growth NCE projects and Ride on positive Industry outlo
Slide 30: Earnings call details
Earnings call details - Laurus Labs Results Conference Call to be held on Friday, 24 January 2025 at 5:00 PM IST Dial – In – Details Universal Dial-In +91 22 6280 1384 Click below to Express Join with India Local access Number +91 22 7115 8285 Diamond Pass Singapore +800 1012045 Click here to regist
Slide 31: Additional Information
Additional Information As a research-driven pharmaceutical manufacturing organization, Laurus Labs has been developing and assisting its client organizations to succeed in innovative medicines that globally enhance the health outcomes for patients. Since our inception in 2005, we have been developin