Morepen Laboratories Limited · NSE:MOREPENLAB
Morepen Laboratories — Q4 FY23 Earnings Presentation
41 slides from Morepen Laboratories's earnings presentation, May 16, 2023
Slide 1: Investors Presentation (Q4'FY23) filing letter to exchanges
Date: 16/05/2023 To, National Stock Exchange of India Ltd. BSE Limited Exchange Plaza, Bandra Kurla Complex, Phiroze Jeejeebhoy Towers, Bandra (East), Mumbai- 400 051 Dalal Street, Mumbai- 400 001 Symbol: MOREPENLAB Scrip Code: 500288 Subject: Investors Presentation (Q4’FY23) May, 2023 Dear Sir/ Mad
Slide 2: Morepen Laboratories Q4'FY23 Earnings Presentation
MOREPEN LABORATORIES LIMTED Q4'FY23 earnings Presentation - May 2023
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: Regulatory Approvals
© Sanprotalations / > ‘sapratuation/ MOREDEN WOREDEN for Clearing USFDA Inspection with . 4 for successfully completing PMDA Japan Audit eS BD, TesvF gener
Slide 5: Quarterly Highlights
CONSOLIDATED QUARTERLY HIGHLIGHTS Company has got three landmark recognitions in last three months including one USFDA approval, one PMDA inspection and one ISO13485 Approval During the current Quarter Q4'FY23, the business has stabilised and the consolidated revenues at Rs.367 crores against Rs. 37
Slide 6: Consolidated annual operational performance
CONSOLIDATED annual operational performance
Slide 7: Consolidated Revenue Growth
CONSOLIDATED Rs. in crores 12M'FY23 REVENUE GROWTH 2,000 1,500 1557 18% CAGR 400 1424* 372 367 1200 300 1,000 200 863 500 100 0 Q4'FY22 Q4'FY23 0 FY20 FY21 FY22 FY23 Quarterly performance ANNUAL performance *stabilized revenue post covid-spike
Slide 8: Export Revenue
CONSOLIDATED (Company-wide) Rs. in crores 12M'FY23 EXPORT REVENUE 600 557 573 477 18% CAGR 400 Export 343 154 42% 213 200 Domestic 58% 40% 0 FY'20 FY'21 FY'22 FY'23 Q4'FY23 revenue split exports %age FY23 ANNUAL export turnover
Slide 9: API, Medical Devices, Formulations, OTC
API BUSINESS MEDICAL DEVICES B-2-B FORMULATIONS OTC (SUBSIDIARY)
Slide 10: Segment Wise Business
consolidated Rs. in crores 12M'FY23 SEGMENT WISE BUSINESS 1,000 500 200 125 400 185 100 750 858 823 419 150 169 106 300 327 75 94 500 100 200 50 250 100 50 25 0 0 FY'22 FY'23 FY22 FY23 0 0 FY22 FY23 FY22 FY23 API DIAGNOSTICS FORMULATIONS DR.MOREPEN -OTC
Slide 11: Segment Wise Breakup
standalone Rs. in crores 12M'FY23 SEGMENT WISE BREAKUP FY22 FY23 Formulations 13.9% 59.4% 61.6% API 2.20% Diagnostic Devices Diagnostics 28.9% 24.5% 24.5% 4.40% API 61.6% 11.7% 13.9% formulations 2.20% revenue split FY'23
Slide 12: API Business
API BUSINESS leadership through quality
Slide 13: API Revenue
api business Rs. in crores 12M'FY23 API REVENUE 1,000 858 750 823 20% CAGR 250 683 200 235 217 500 150 474 100 250 50 0 0 Q4'FY22 Q4'FY23 FY20 FY21 FY22 FY23 Quarterly performance ANNUAL API Revenue
Slide 14: API Export
api business Rs. in crores 12M'FY23 API EXPORT 600 553 565 18% CAGR 473 400 Domestic 30% 341 65 200 152 Export 70% 70% 0 FY20 FY21 FY22 FY23 Q4'FY23 revenue split exports FY23 ANNUAL API EXPORT
Slide 15: Continent Wise Share
api business CONTINENT WISE SHARE S. America USA 4.6% 12.8% S. America USA Africa 4.2% 10.6% Europe 90 S. America 145 India Europe 141 India Europe 18.6% 30.6% FY23 20% 27.8% FY20 1269 India 280 ^73% Asia 599 Asia Asia 36% in three years 28.7% No of customers
Slide 16: Success in Regulatory Approvals
api business SUCCESS IN REGULATORY APPROVALS NIL-483: CONSECUTIVELY FOR LAST 3 INSPECTIONS; APPROVED AFTER TOTAL 6 INSPECTIONS FIRST INSPECTION BOTH PLANTS AUDITED AND APPROVED AFTER APPROVED AFTER FIRST INSPECTION FIRST INSPECTION APPROVED AFTER APPROVED AFTER FIRST INSPECTION FIRST INSPECTION
Slide 17: Key API Products
api business KEY API PRODUCTS LORATADINE MONTELUKAST ATORVASTATIN ROSUVASTATIN FEXOFINADINE NEW MOLECULES
Slide 18: Market Leadership
api business MARKET LEADERSHIP 140 MT 85 MT loratadine montelukast WORLD'S 20 MT 120 MT LARGEST desloratadine atorvastatin CAPACITIES
Slide 19: Loratadine API
api business Rs. in crores 12M'MAR23 LORATADINE API market share in export from india Share of FY23 sales 12.3% S6 Loratadine 1% S3 32.6% 238 1.9% S2 64% 5.2% S1 Other Products 11.1% Morepen 67.4% 63.9% 92% exports sales in FY'23
Slide 20: Montelukast API
api business Rs. in crores 12M'MAR23 MONTELUCAST API market share in export from india Others Share of FY23 sales 8.3% S6 3.9% Montelukast S5 28.6% 6.3% Morepen 238 38.6% S4 39% 7.3% S3 7.5% Other Products 71.4% S2 10% S1 46% 18.2% exports sales in FY'23
Slide 21: Atorvastatin API
api business Rs. in crores 12M'MAR23 ATORVASTATIN API market share in export from india Others Morepen 4.2% Share of FY23 sales S8 9.9% Atorvastatin 1.6% S6 16.6% 3.4% S5 S1 8.9% 238 21.5% 10% S4 12.6% S2 Other Products S3 17.4% 83.4% 14.7% 46% exports sales in FY'23
Slide 22: Intellectual Property
api business INTELLECTUAL PROPERTY USA Europe 142 26 11 Japan patents US DMFs CEP Filings korea China Taiwan 13 148 36 Australia china idls non-Us DMFs new products Brazil
Slide 23: Intellectual Property
api business INTELLECTUAL PROPERTY USA Europe 142 26 11 Japan patents US DMFs CEP Filings korea China Taiwan 13 148 36 Australia china idls non-Us DMFs new products Brazil
Slide 24: R&D Core Competence
api business R&D CORE COMPETENCE NON-INFRINGING NEW POLYMORPHS REFERENCE process & patents development standard synthesis MULTI STAGE COST EFFECTIVE IMPURITY GENOTOXICITY profiling by qbd stuides SYENTHESIS processes
Slide 25: Specialised Chemistry Skills
api business SPECIALISED CHEMISTRY SKILLS complex cyclic ketone & intra-molecular complex hydrogenation cyano grignard reaction friedel-craft Reaction reactions cyanation complex condensation nucleophilic substitution reactions reactions reactions COMPLEX SENSITIVE complex amino acid elimination alk
Slide 26: Medical Devices
MEDICAL DEVICES market leadership
Slide 27: Medical Devices Revenue Growth
medical devices Rs. in crores 12M'FY23 REVENUE GROWTH 500 400 419 25% CAGR 75 68 70 300 327* 287 50 200 168 25 39.93 100 0 0 Q4'FY22 Q4'FY23 FY20 FY21 FY22 FY23 Quarterly performance ANNUAL performance *stabilized revenue post covid-spike
Slide 28: Growth Drivers
medical devices GROWTH DRIVERS for the qaurter ^16% ^68% gluco meters BP Monitors
Slide 29: Gluco Meters
medical devices Rs. in crores 12M'FY23 GLUCO METERS 300 279 60 254 29% CAGR 200 54 40 46 180 100 120 20 0 0 Q4'FY22 Q4'FY23 FY20 FY21 FY22 FY23 Quarterly performance ANNUAL performance
Slide 30: Gluco Meters: 9.5 Million Installed, 1.2 Billion Strips
medical devices GLUCO METERS 9.5 MILLION 1.2 BILLION meters installed strips sold so far
Slide 31: BP Monitors
medical devices Rs. in crores 12M'FY23 BP MONITORS 100 84 26% CAGR 15 75 13 63 58 10 50 8 5 25 29 0 0 Q4'FY22 Q4'FY23 FY20 FY21 FY22 FY23 Quarterly performance ANNUAL performance
Slide 32: Formulations
FORMULATIONS branded & generic formulations
Slide 33: Formulations Gross Revenue
formulations Rs. in crores 12M'FY23 GROSS REVENUE 200 185 169 150 50 10% CAGR 49 138 131 40 39 100 30 20 50 10 0 0 Q4'FY22 Q4'FY23 FY20 FY21 FY22 FY23 Quarterly performance ANNUAL performance
Slide 34: Growth Drivers
formulations GROWTH DRIVERS for the qaurter ^59% ^19% antibiotics Gastro ^33% ^43% nutrition others
Slide 35: Dr. Morepen OTC, Health & Nutrition
Dr. Morepen® OTC, HEALTH & NUTRITION
Slide 36: OTC Gross Revenue
Rs. in crores 12M'FY23 GROSS REVENUE 125 100 106 93 13% CAGR 30 86 27 75 20 22 65 50 10 25 0 0 Q4'FY22 Q4'FY23 11% FY20 FY21 FY22 FY23 Quarterly performance Online FY23 ANNUAL performance
Slide 37: Financial Highlights & Ratios
consolidated FINANCIAL highlights & ratios
Slide 38: Financial Highlights Q4'FY23
consolidated Rs. in crores Q4'FY23 FINANCIAL HIGHLIGHTS 400 25 15 15 371.46 366.81 20 14.18 21.85 300 12.32 18.68 10 11.14 10 15 200 8.24 10 5 5 100 5 0 0 0 0 Q4'FY22 Q4'FY23 Q4'FY22 Q4'FY23 Q4'FY22 Q4'FY23 Q4'FY22 Q4'FY23 Net Revenue ebitda profit before tax profit after tax quarterly performance
Slide 39: Financial Highlights FY23
consolidated Rs. in crores FY23 FINANCIAL HIGHLIGHTS 2,000 150 150 125 146.98 100 1,500 126.70 101.68 1557.13 100 100 1423.66 75 1,000 85.67 50 50 50 55.76 25 38.68 500 0 0 0 0 FY22 FY23 FY22 FY23 FY22 FY23 FY22 FY23 Net Revenue ebitda profit before tax profit after tax AnNUAL performance
Slide 40: A View of Corporate Office
A VIEW OF CORPORATE OFFICE 40000 sqft. office in gurugram (DELHI NCR)
Slide 41: Thank You
Thank You