Jb Chemicals & Pharmaceuticals Ltd. · NSE:JBCHEPHARM
Jb Chemicals & Pharmaceuticals — Q4 FY23 Earnings Presentation
37 slides from Jb Chemicals & Pharmaceuticals's earnings presentation, May 24, 2023
Slide 1: Cover letter to National Stock Exchange
May 24, 2023 National Stock Exchange of India Limited Exchange Plaza, 5th Floor, Plot No. C/1, G-Block, Bandra Kurla Complex, Bandra (E), Mumbai – 400051. Stock Symbol: JBCHEPHARM Dear Sir, Sub: Company Presentation Enclosed is Company’s presentation on financial results for the quarter and year end
Slide 2: JB Pharma – Q4 and FY23 Investor Presentation
JB Pharma – Q4 and FY23 Investor Presentation May 24, 2023 www.jbpharma.com jbpharma/ 1
Slide 3: Disclaimer
Disclaimer No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this presentation. Such information and opinions are in all events not current after the d
Slide 4: Synergistic acquisitions, domestic outperformer
>. Synergistic acquisitions productivity Domestic outperformer Jp) “ E Gl leader Consistency of delivery _ Strong FCF forG000 HEALTH o — Dosage i i op Global regulatory approvals Medicated/Herbal lozenges a . 3 Leadership Key therapies Pillar Brands e she B PHARMA °s Dosage forms State of the art fa
Slide 5: Top 5 brands and 40+ years of operations
46 6 40+ Top 5 Brands among top 300 brands Global manufacturer of Years of operations with Regulated/semi-regulated (IQVIA MAT Mar’23 data), medicated/herbal lozenges consistent track record markets of presence through contributing over 60% of representing a substantial across multiple businesses di
Slide 6: Corporate Snapshot – Financial Overview
Corporate Snapshot – Financial Overview Revenue (INR cr) PAT (INR cr) ^Op EBITDA Margin (%) 42% 27.4% 25.0% 24.3% 29% 21.3% # 24% 22% 18.6% 3,149 21% 15.4% 15% 25% 2,424 2,043 19% 18% 17% 1,643 1,775 1,413 13% 10% 272 449 386 410 139 194 FY18 FY19 FY20 FY21 FY22 FY23 FY18 FY19 FY20 FY21 FY22 FY23 RO
Slide 7: World Class Manufacturing Facilities
World Class Manufacturing Facilities • State of the Art manufacturing facilities 8 • Global Regulatory Accreditations 40+ • Dosage forms produced 10 6
Slide 8: Q4 and FY23 Business Performance
Q4 and FY23 Business Performance 7
Slide 9: CEO's Message
CEO’s Message “JB continued its growth journey in the fourth quarter, thereby ending FY23 with strong performance across business segments. Our market- beating performance in India is pivoted around big brands becoming bigger, and significant demand acceleration in the acquired portfolio. Each of ou
Slide 10: Results Overview: Q4 and FY23
Results Overview: Q4 and FY23 Revenues (INR crores) 30% 3,149 2,424 o JB maintained its growth momentum in Q4 and closed the year with INR 3,000+ crores of revenue 22% • Quarterly revenue was INR 762 crores recording growth of 22% 762 • Revenue for FY23 grew by 30% to INR 3149 crores 625 o Domestic
Slide 11: EBITDA Analysis - Q4 and FY23
EBITDA Analysis - Q4 and FY23 INR crore Q4 FY23 Q4 FY22 FY23 FY22 Revenue 762 625 3149 2424 Reported EBITDA 164 125 696 543 Non Cash ESOP Charge 17 24 69 62 Included in Employee Benefits expense Operating EBITDA (excluding ESOP charge) 181 149 765 605 Operating EBITDA margins 23.8% 23.8% 24.3% 24.9%
Slide 12: Financial Overview Q4 FY23
Financial Overview Q4 FY23 Op. EBITDA (INR crores) 23.8 % 23.8% o Operating EBIDTA* grew by 21% in Q4 FY23 to INR 181 crores vs INR 149 crores in Q4 FY22 21% o Gross margins were 63.9% in Q4 FY23 vs 65.9% in Q4 FY22 149 181 • Sequential improvement from 62.3% in Q3 FY23 o Total employee cost incl ES
Slide 13: Financial Overview FY23
Financial Overview FY23 Op. EBITDA* (INR crores) 24.9 % 24.3% o Operating EBIDTA* increased to INR 765 crores in FY23 vs INR 605 crores in FY22, an improvement of 26% 26% • Operating margins were at 24.3% vs 24.9% in FY22 o Gross margins were at 62.9% for FY23 as compared to 65.2% in FY22 • Gross ma
Slide 14: Balance Sheet FY23 – Significant cash generation
Balance Sheet FY23 – Significant cash generation Balance Sheet (INR Cr) Mar-23 Mar-22 o Operating Cash flow for FY23 was INR 626 crores as compared to INR Net Worth 2480 2139 170 crores in FY22, strongly aided by: Other Liabilities 287 217 • Higher proportion of India business Total Liabilities 2767
Slide 15: Domestic Business Q4 FY23
Domestic Business Q4 FY23 o Domestic business clocked revenue of INR 380 crores in the fourth quarter recording robust growth of 29% Domestic Formulations (INR crores) 380 o India business, excluding sales from acquired brands, grew double- digit for the quarter. 29% 294 • As per IQVIA MAT Mar’23 da
Slide 16: Domestic Business FY23 – Stellar Performance
Domestic Business FY23 – Stellar Performance o Domestic business recorded growth of 38% at INR 1640 crores in FY23 vs INR 1188 crores in FY22 Domestic Formulations (INR crores) • Excluding the acquired brands, domestic business grew mid- teens 1640 o JB Pharma was the fastest growing company amongst
Slide 17: Domestic Business FY23 - Delivered growth across all pillars
Domestic Business FY23 - Delivered growth across all 4 pillars Re-Aligned Go-To-Market Making Big Brands Bigger model driving productivity • Improvement in PCPM • Now 6 brands in IQVIA top 300 brands list. • New introductions ramping up Sporlac could be a potential new entrant • Improved prescriber
Slide 18: JB continues as one of the fastest growing companies
JB continues as one of the fastest growing companies in its CVM, maintaining a market beating performance in FY 23 Among top 25, JB is the fastest Leadership position Fastest growing growing pharma company in the IPM in the covered markets company among the Top 25 in the IPM in FY 23 22% Vs IPM grow
Slide 19: JB's Prescriptions growing at a market beating pace
JB’s Prescriptions growing at a market beating pace; company now ranks #15 in the IPM JB Pharma Total Prescriptions (in Lakhs) Company prescriptions CAGR: 30% growing at a market 1,568 beating CAGR of 30% vs 1,231 IPM growth of 26% 929 MAT March'21 MAT March'22 MAT March'23 Ranked #15 in prescriptio
Slide 20: PCPM Improved to INR 6.20 lakhs; Newly Launched Brands gaining traction
PCPM Improved to INR 6.20 lakhs; Newly Launched Brands gaining traction Constant improvement in PCPM# New launches garnering better revenues* BRANDS Brand Launch MAT MAR'21 MAT MAR'22 MAT MAR'23 Constant improvement in PCPM# RANTAC RD Oct-20 1 7 12 LAXOLITE Jan-20 3 7 10 6.20 5.40 4.60 DAPACOSE Feb-
Slide 21: Brands Getting Bigger: Now 6 brands in the Top 300
Brands Getting Bigger: Now 6 brands in the Top 300 MAT Mar’22 Value Sales* MAT Mar’23 Value Sales* MAT Mar’22 Rank MAT Mar’23 Rank RANTAC 289 353 #45 #35 CILACAR 273 324 #52 #44 METROGYL 147 191 #194 #142 NICARDIA 116 147 #240 #172 CILACAR-T 111 138 #203 #194 AZMARDA 78 114 #386 #261 20 All data as
Slide 22: Building Stronger Brand Franchises
Building Stronger Brand Franchises INR 345 crs INR 524 crs INR 285 crs INR 415 crs INR 192 crs INR 296 crs IQVIA MAT Mar’21 IQVIA MAT Mar’23 IQVIA MAT Mar’21 IQVIA MAT Mar’23 IQVIA MAT Mar’21 IQVIA MAT Mar’23 CILACAR T RANTAC DOM METROGYL P CILACAR M RANTAC MPS METROGYL DG CILACAR TC RANTAC RD METRO
Slide 23: Chronic Portfolio Outperformed the IPM
Chronic Portfolio Outperformed the IPM and Overall Chronic Therapy; JB Pharma now among the top 20 in the chronic segment #20 JB Pharma’s Chronic Portfolio Outperforming the IPM #24 24%* #27 * 11% * 8% IPM Growth% IPM Chronic Portfolio JB Pharma Chronic Growth% Portfolio Growth% MAT Mar’21 MAT Mar’2
Slide 24: JB Pharma among Top 10 in Cardiac Therapy
JB Pharma now ranks amongst the Top 10 in the Cardiac Therapy; 3 brands among in the top 25 in Cardiology segment #08 MAT MAR'21 MAT MAR'22 MAT MAR'23 4 4 4 #13 40 30 20 #14 47 32 23 3 brands in Top 25 in the Cardiology segment MAT MAT MAT Mar’21 Mar’22 Mar’23 Addition of progressive and strong Gain
Slide 25: Domestic Business - 3 acquisitions in FY23
Domestic Business - 3 acquisitions in FY23 Sanzyme Portfolio - Completed in FY22 Azmarda Marked JB’s entry into the high growth probiotics High growth, specialty focused brand in the fast- segment growing Heart Failure segment Portfolio recorded strong YoY growth of 24% as per Adds to the company’s
Slide 26: Sporlac – Sterling performance in FY23
Sporlac – Sterling performance in FY23 Sporlac now ranks #334, gained 152 ranks in the year* Ranks #1 in its covered market space Sales grew by 43% over the year to INR 92 crores as per IQVIA MAT Mar’23 data Sporlac prescriptions increased by 55% during the year to 1.34 crore prescriptions as per IQ
Slide 27: Performance Over the Year: Azmarda
Performance Over the Year: Azmarda *Entered the IQVIA Top 300 brands list, now ranks #261 Azmarda recorded growth of 46% as per IQVIA MAT Mar’23 data with the total sales being INR 114 crores Azmarda prescriptions increased by 127% in a year to 2.32 lakhs as per IQVIA MAT Mar’23 data 26 * IQVIA MAT
Slide 28: Performance Over the Year: Paedia Brands
Performance Over the Year: Paedia Brands Portfolio sales improved by 19% over the year* to INR 54 crores Robust growth of 31% in Pedicloryl, IQVIA MAT Mar’23; sales of INR 12 crores Strong prescription improvement in Z&D (16%), Pedicloryl (139%) and Ezinappi (50%) 27 * IQVIA MAT Mar’23 data
Slide 29: Razel: JB Pharma's Latest Acquisition
Razel: JB Pharma’s Latest Acquisition JB Pharma enters the largest category* in the Cardiac segment – Statins Razel ranks amongst the top 10 brands in the Rosuvastatin molecule market With this acquisition, JB is now present in the 3 most progressive cardiology segments • Hypertension: Cilacar and N
Slide 30: International Business Q4 FY23
International Business Q4 FY23 o International Business grew by 16% to INR 382 crores in Q4 FY23 vs INR 330 crores in Q4 FY22 16% o International Formulations business was at INR 255 crores in 382 Q4 FY23 v/s INR 218 crores in Q4 FY22 recording growth of 17% 330 17% • Russia business witnessed deman
Slide 31: International Business Performance FY23
International Business Performance FY23 o Total International business revenue for the financial year was 22% 1509 INR 1509 crores registering growth of 22% 1236 13% o International formulations business grew 13% to INR 1009 1009 crores during the year from INR 892 crores in FY22 892 • Russia situat
Slide 32: CMO business a main focus area
Besides domestic business, the CMO business also one of the main focus areas for the organization 60% Consistent Growth in the CMO Business Coverage into semi YoY growth in FY23 regulated/other RoW 60% markets 13% 27% Experience in working Projects focused on with marquee global lozenges, syrups, ph
Slide 33: Consistent Revenue/EBITDA growth over the years
Consistent Revenue/EBITDA growth over the years Domestic Formulations (INR crores) International Business (INR crores) Total Revenues (INR crores) CAGR: 23% CAGR: 13% CAGR: 17% 3149 1640 2424 1509 1173 1236 2043 1127 1643 1775 797 892 816 942 954 1413 588 675 FY18 FY19 FY20 FY21 FY22 FY23 FY18 FY19
Slide 34: Q4 and FY23 Financial Performance (Consolidated)
Q4 and FY23 Financial Performance (Consolidated) YoY Particulars Q4 FY23 Q4 FY22 YoY Growth FY23 FY22 Growth Revenue from Operations 762 625 22% 3149 2424 30% Cost of Goods Sold 275 213 29% 1168 843 39% Gross Profit 488 412 18% 1981 1581 25% Gross Profit Margins 63.9% 65.9% 62.9% 65.2% Employee Bene
Slide 35: JB Pharma – Looking ahead
JB Pharma – Looking ahead Growth objectives supported by lean organization structure and strong governance framework Domestic business to consistently outperform Continued growth momentum in International market growth driven by business Big brands becoming bigger Strong delivery in CMO business
Slide 36: About JB Pharma
About JB Pharma J.B. Pharma (BSE: 506943 | NSE: JBCHEPHARM | For further information, please ISIN: INE572A01028), established in 1976, is one contact: of the fastest growing pharmaceutical companies in India and a leading player in the hypertension Lakshay Kataria, Chief Financial Officer segment. B
Slide 37: Thank you
GOOD PEOPLE _for GOOD HEALTH Thank you 000 www.jbpharma.com
J. B. Chemicals & Pharmaceuticals — Q4 FY23 Earnings Presentation on 6ix