Concord Biotech Ltd. · NSE:CONCORDBIO
Concord Biotech — Q4 FY24 Earnings Presentation
30 slides from Concord Biotech's earnings presentation, May 27, 2024
Slide 1: Cover letter to stock exchanges
CONCORD BIOTECH LIMITED B-1601-1602, B-wing Mondeal Heights, Iskcon Cross Road, S. G. Highway, Ahmedabad-380015, Gujarat. Phone : +91-79-68138700 Fax : +91-79-68138725 CIN No.: L24230GJ1984PLC007440 Email ID: complianceofficer@concordbiotech.com --------------------------------------------------------
Slide 2: Concord Biotech Limited Investor Presentation – May 2024
` Concord Biotech Limited Investor Presentation – May 2024
Slide 3: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Concord Biotech Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any secur
Slide 4: Q4 & FY24 Key Financial Highlights
` Q4 & FY24 Key Financial Highlights
Slide 5: Key Operational Highlights – FY24
Key Operational Highlights – FY24 Approvals & Inspections Products & Filings USFDA 7 22 New DMF’s Product Registration Filed across Europe, Malaysia, Approvals received across various emerging ANVISA Regulatory Authority (Brazil) Canada, Australia, Brazil & Taiwan markets across Asia, Africa & LATAM
Slide 6: Q4 & FY24 Segment wise Revenue Split (1/2)
Q4 & FY24 Segment wise Revenue Split (1/2) API Revenue (Rs. in Crs) Formulation Revenue (Rs. in Crs) Total Revenue (Rs. in Crs) +9% +106% +19% 828.0 1,016.9 761.3 188.9 853.2 +14% +17% +37% 91.9 233.6 265.4 272.6 319.0 53.6 39.0 Q4FY23 Q4FY24 FY23 FY24 Q4FY23 Q4FY24 FY23 FY24 Q4FY23 Q4FY24 FY23 FY24
Slide 7: Q4 & FY24 Segment wise Revenue Split (2/2)
Q4 & FY24 Segment wise Revenue Split (2/2) API : Formulation (Q4FY24) API : Formulation (FY24) 14% 17% 11% 19% Q4FY23 Q4FY24 FY23 FY24 86% 83% 81% 89% API Formulation API Formulation Domestic : Export (Q4FY24) Domestic : Export (FY24) 49% 50% 50% 49% FY23 47% FY24 51% Q4FY23 Q4FY24 51% 53% Domestic
Slide 8: Q4 & FY24 Consolidated Financial Highlights
Q4 & FY24 Consolidated Financial Highlights Revenue (Rs. in Crs) EBIDTA* (Rs. in Crs) PAT (Rs. in Crs) +19% +26% +28% 1,016.9 434.9 308.1 853.2 345.2 240.1 +17% +4% +4% 272.6 319.0 91.5 95.0 127.0 132.1 Q4FY23 Q4FY24 FY23 FY24 Q4FY23 Q4FY24 FY23 FY24 Q4FY23 Q4FY24 FY23 FY24 Gross Profit Margin (%) E
Slide 9: Q4 & FY24 Consolidated Profit & Loss Account
Q4 & FY24 Consolidated Profit & Loss Account Profit and Loss (Rs. in Crs) Q4FY24 Q4FY23 Y-o-Y Q3FY24 Q-o-Q FY24 FY23 Y-o-Y Revenue from Operations 319.0 272.6 17% 240.8 32% 1,016.9 853.2 19% Operating Expenses 88.8 56.6 47.1 229.2 180.2 Gross Profit 230.1 216.0 7% 193.7 19% 787.7 673.0 17% Gross Pro
Slide 10: Consolidated Balance Sheet
Consolidated Balance Sheet Assets (in Rs. Crs) Mar-24 Mar-23 Equity & Liabilities (in Rs. Crs) Mar-24 Mar-23 Non - Current Assets 804.5 786.3 Total Equity 1,526.6 1,290.0 Property Plant & Equipment's 571.7 592.5 Share Capital 10.5 10.5 CWIP 211.5 172.7 Other Equity 1,516.2 1,279.5 Intangible assets
Slide 11: Abridged Cashflow Statement
Abridged Cashflow Statement Particulars (in Rs. Crs) FY24 FY23 Net Profit Before Tax 412.6 322.0 Adjustments for: Non -Cash Items / Other Investment or Financial Items 37.4 46.6 Operating profit before working capital changes 450.0 368.6 Changes in working capital -81.2 -52.3 Cash generated from Ope
Slide 12: Management Commentary
Management Commentary Commenting on the Q4 & FY24 performance of the company Mr. Ankur Vaid, Joint Managing Director & Chief Executive Officer for Concord Biotech Limited said, "We are delighted to report that our revenue for Q4 FY24 stood at Rs. 319 crores, reflecting a growth of 17%. Our revenue f
Slide 13: Company Overview
` Company Overview
Slide 14: About Concord Biotech
About Concord Biotech Concord Biotech Limited is a R&D driven biopharma Company that manufactures Active Pharmaceutical Ingredients (API) through fermentation & semi-synthetic process and finished formulations. Fermentation-based API R & D Capabilities Competent Management Among few companies global
Slide 15: Concord Biotech Business Snapshot
Concord Biotech Business Snapshot Product 30 135+ 20%+ Portfolio Fermentation- based Market Share by APIs API DMF’s Volume in 5 Molecules Infrastructure 1250m3 3 ~802 mn Total Installed Manufacturing facilities Units Formulation Fermentation Capacity located at Dholka, Valthera Capacity and Limbasi
Slide 16: Overview of API & Formulation
Overview of API & Formulation API Formulation Commercialization of Formulations segment One of the leading global developers and in 2016 to capitalize on the benefits of manufacturers of Fermentation-based APIs backward integration Operate through B2B model across Focus on Niche Fermentation API’s w
Slide 17: State-of-the-art Manufacturing Facilities
State-of-the-art Manufacturing Facilities Unit I (API) – Dholka, Gujarat Unit II (Formulations) – Valthera, Gujarat Unit III (API) – Limbasi, Gujarat + Upcoming Injectable Facility • Operations commenced in year 2000 • Operations commenced in year 2016 • Operations commenced in year 2021 • Spread ac
Slide 18: Strong R&D Capabilities
Strong R&D Capabilities R&D Initiatives: Investments in R&D (in Crores) New Product Development 30 173* Cost Improvement 26 R&D Employee Strength 23 Process Improvement > 135 13 Technology Transfer API DMFs Scale-up Initiatives 6/4 Enhancement of Backward Integration ANDA approved products/ FY21 FY2
Slide 19: Diversified Customer Base
Diversified Customer Base Concord Biotech’s Customer Profile Only supplier of complete portfolio of fermentation based Immuno-suppressant API’s 70+ Countries Niche basket of fermentation- based API’s in Oncology Anti Infectives & Anti Fungal 250+ Customers FY20 FY21 FY22 FY23 FY24 Reducing Customer
Slide 20: Paving the Way for Sustainability
Paving the Way for Sustainability Sustainable Manufacturing Global Green Leadership Environmental Conservation We envision a manufacturing process that With our unwavering commitment to Concord Biotech firmly believes in the Our Vision for prioritizes environmental sustainability, sustainability, we
Slide 21: Key Business Differentiators
Concord Biotech Limited Key Business Differentiators
Slide 22: Key Differentiators
Key Differentiators Market Leader in fermentation based Immuno- Strong Presence across suppressant API’s Strong & Consistent Fermentation value chain & Financial Track Record Focus on niche complex fermentation API’s across multiple therapeutic areas High Entry Barriers Wide product portfolio of Uti
Slide 23: Strong Presence Across Complex Fermentation Value Chain
Strong Presence Across Complex Fermentation Value Chain Over 2 Decades Experience in the industry with a demonstrated track 1250 M3 record of developing niche and complex molecules Fermentation Capacity across two API facilities 02 03 30 Fermented based API’s One of leading global developers and man
Slide 24: Creating Significant Entry Barriers
Creating Significant Entry Barriers Significant Complex technical capabilities, difficulties in scaling up operations and substantial capital investment Entry Barriers required have resulted in significant barriers to entry in the fermentation-based API space Complex Process & Technical 01 Portfolio
Slide 25: Wide Spectrum of Niche Fermented API's
Wide Spectrum of Niche Fermented API’s 1 Immunosuppressant 2 ▪ Tacrolimus Oncology 3 ▪ Mycophenolate Mofetil ▪ Temsirolimus Anti-Bacterial 4 ▪ Mycophenolate Sodium ▪ Everolimus ▪ Mupirocin Anti-Fungal 5 ▪ Romidepsin ▪ Cyclosporine ▪ Mupirocin Calcium ▪ Anidulafungin Others ▪ Mitomycin ▪ Sirolimus ▪
Slide 26: DMF Filings Across Geographies
DMF Fillings Across Geographies Molecules US EU Canada Japan China Tacrolimus ✓ ✓ ✓ ✓ ✓ Mycophenolate Mofetil ✓ ✓ ✓ ✓ ✓ Suppressants Immuno- Mycophenolate Sodium ✓ ✓ ✓ ✓ Cyclosporine ✓ ✓ ✓ ✓ ✓ Sirolimus ✓ ✓ ✓ Pimecrolimus ✓ Temsirolimus ✓ Everolimus ✓ ✓ ✓ ✓ Oncology Romidepsin ✓ ✓ Mitomycin ✓ ✓ Dact
Slide 27: Wide Range of Formulation Product Portfolio for India Markets
Wide Range of Formulation Product Portfolio for India Markets Critical Care Nephrology Rheumatology Antifungals Transplant & Immunology Immunology • Amfoterol • Vorixia • Tacrocord • Cyclograf • Conimune ME • Adacord • Conimmune 25 • Anicord • Picocord GRTM • Mofecon • Valocon • Cyclograp • Arthimid
Slide 28: Wide Range of Formulation Product Portfolio for Overseas Markets
Wide Range of Formulation Product Portfolio for Overseas Markets Regulated Markets Emerging Markets Product Name ANDA Approval Product Name Mycophenolate Mofetil Capsules Mycophenolate Mofetil Capsules Mycophenolate Mofetil Tablets Mycophenolate Mofetil Suspension Mycophenolic Acid DR Tablets USP My
Slide 29: Key Growth Drivers
Key Growth Drivers API Marketing existing APIs to Increasing wallet share with Expanding API Portfolio new customers existing customers Formulations Expanding portfolio through own Launching new dosage forms Expanding geographic reach development & in-licensing including injectables in India, EMs an
Slide 30: For further Information, please contact
For further Information, please contact Concord Biotech Limited Investor Relations Advisors Concord Biotech Limited Strategic Growth Advisors Private Limited CIN: L24230GJ1984PLC007440 CIN: U74140MH2010PTC204285 Mr. Lalit Sethi – Chief Financial Officer Mr. Jigar Kavaiya / Mr. Sagar Shroff lalitseth