Slide 1: Stock exchange intimation letter
Shilpa Medicare Limited Corporate & Admin Office: “Shilpa House”, # 12-6-214/A-1, Hyderabad Road, Raichur – 584 135, Karnataka, India Tel: +91-8532-238704, Fax: +91-8532-238876 Email: info@vbshilpa.com, Web: www.vbshilpa.com CIN: L85110KA1987PLC008739 Date: 26 May 2025 To To Corporate Relationship D
Slide 2: Shilpa Medicare Ltd 4QFY25 Earnings Presentation
Shilpa Medicare Ltd 4QFY25 Earnings Presentation Date: 26th May 2025
Slide 3: Safe Harbour
Safe Harbour Certain statements in this document may be forward - looking statements. Such forward looking statements are subject to certain risks and uncertainties like regulatory changes, local political or economic developments, and many other factors that could cause our actual results to differ
Slide 4: Shilpa Medicare at a glance
Shilpa Medicare at Established in 1987, we have 35+ years track record a glance Existing Business Segments: API , Formulation, CDMO, Biologics Emerging Businesses: NDDS, ADC and Recombinant Human Albumin 10+ Regulatory approved manufacturing + R&D facilities (incl Analytical Lab) 400+ R&D Personnel
Slide 5: Company snapshot
Company snapshot API Formulations Biosimilars CDMO Recombinant Albumin ▪ The business comprises of ▪ Differentiated portfolio of ▪ Offering Biosimilar portfolio ▪ Integrated, one stop CMC • Developed & patented a production of APIs (oncology Onco and Non- Onco across niche therapies such as solution
Slide 6: Key operating verticals
Key operating verticals API Formulations Biologics 6% FY25 Revenue 37% contribution 57% ▪ Shilpa Pharma Lifesciences ▪ Shilpa Medicare ▪ Shilpa Biologicals Legal ▪ Shilpa Therapeutics ▪ Shilpa Biocare Entities ▪ FTF Pharma Areas of ▪ Oncology ▪ Tablets/Capsules ▪ NBE Operation ▪ Non-Oncology ▪ Injec
Slide 7: Management Commentary
Management Commentary FY25 performance reflects our pursuit of differentiated business model enabling us to grow with improved profitability. In FY25, Shilpa Medicare has emerged stronger, turning years of strategic investments and relentless perseverance into remarkable achievements in differentiat
Slide 8: 4QFY25 Performance
Ss 4QFY25 Performance
Slide 9: 4Q FY25 – Financial Performance
4Q FY25 – Financial Performance 4Q FY25 (Consolidated) Revenue Break-up (INR in cr.) Particulars (INR cr) 4QFY25 4QFY24 YoY 3QFY25 QoQ Biologicals, Others, 8.0 Total Revenue 338 294 15% 320 6% 10.0 Gross Profit 234 197 19% 229 2% 5% Formulation, GP Margin 69% 67% 200 bps 72% -300 bps 133.0 EBITDA 84
Slide 10: FY25 – Financial Performance
FY25 – Financial Performance FY25 (Consolidated) Revenue Break-up (INR in cr.) Particulars (INR cr) FY25 FY24 YoY (%) Biologicals, Others, 25.0 Total Revenue 1,310 1,160 13% 75.0 Gross Profit 899 752 20% 2% 7% Formulation, GP Margin 69% 65% 400bps 474.0 EBITDA 340 253 35% FY25 EBITDA Margin 26% 22%
Slide 11: Consolidated Performance
Consolidated Performance (INR in Cr.) Revenues EBITDA and Margins 26% 26% 25% 25% 253 340 22% 294 320 338 1,160 1,310 73 82 84 4QFY24 3QFY25 4QFY25 FY24 FY25 4QFY24 3QFY25 4QFY25 FY24 FY25 PBT and Margins PAT and Margins 13% 13% 11% 10% 10% 7% 151 7% 97 4% 28 7% 48 20 22 42 43 32 33 2% 4QFY24 3QFY25
Slide 12: Financial Summary
Financial Summary ROCE Gross Block (INR crs) 9% 8% 6% 1,991 2% 1,538 1,587 1,670 1% 1,256 FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25 Net Debt to EBITDA (x) Net Capex (INR crs) 6.7 5.8 3.4 3 349 331 1.6 225 216 172 FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25 11
Slide 13: API Business
API Business 12
Slide 14: API – Muted growth; order book remains healthy
API – Muted growth; order book remains healthy (INR in Cr.) ▪ 4QFY25 Revenue growth was 184 183 188 772 736 driven by portfolio rationalization and improved 2 15 6 11 23 offtake of key products, coupled 18 5 54 25 67 with contribution from newly increased capacities for key products 94 348 92 71 318
Slide 15: API – Ongoing Developments
API – Ongoing Developments API Molecules CDMO Polymer and Peptide ▪ Commercialized Increased capacities for key ▪ Added 2 new customers, taking the total count to 20+ ▪ Commercial manufacturing started of large polymer products viz. UDCA, Tranexamic Acid and Onco ▪ Successfully Completed Phase II su
Slide 16: Formulations Business
Formulations Business 15
Slide 17: New product launches drive FDF revenue growth
New product launches drive FDF revenue growth (INR in Cr.) ▪ For the quarter, the division 97 118 133 346 474 reported robust revenue growth of 38% on YoY basis 24 181 ▪ Launched our 2nd NDA viz. 46 7 Bortezomib RTU Subcutaneous in US, scale up expected in FY26. 34 153 44 25 ▪ Received EU approval f
Slide 18: FDF – Update on key assets
FDF – Update on key assets NorUDCA SMLTDP08 SMLTOP09 SMLODF010 SMLINJ011 ODF & TDS SMLNUD07 ▪ CDSCO approved Ph3 ▪ Transdermal Patch ▪ Topical lotion for ▪ Expected to launch ▪ Injection for ▪ Two new transdermal clinical trials and for treatment of treatment of in European market prevention of naus
Slide 19: Filings – Formulations
Filings – Formulations Formulations – Regulatory Filings Pending Approved 30 81 10 552 16 285 6 73 14 267 4 8 US ANDA and NDA EU Canada ROW Robust regulatory filings to strengthen the base for growth in the formulation segment Our ODF & TDP manufacturing Unit 6 received GMP approval from EMA (Europe
Slide 20: CDMO Business
CDMO Business 19
Slide 21: CDMO – Strong capabilities in various technologies
CDMO – Strong capabilities in various technologies Very strong capability Strong capability Developing capability Negligible capability Indian CDMOs Global CDMOs Shilpa Medicare Peer 1 Peer 2 Peer 3 Global Peer 1 Global Peer 2 Global Peer 3 Specialized technologies Small molecule Peptide Monoclonal
Slide 22: Robust business model encompassing various stages
Robust business model encompassing various stages Value chain Late stage development & Commercial Development & Clinical supplies stages Manufacturing Clinical development Commercial Phases Pre-Clinical Development Registration & Supplies Manufacturing ▪ Drug metabolism, pharmacokinetics (DMPK) ▪ Ph
Slide 23: Comprehensive CDMO Development
Comprehensive CDMO Development Long term manufacturing and supply Unicycive Therapeutics Inc’s agreement with SML. SML is receiving significant milestone Oxylanthanum Carbonate (OLC) is a income spanning over various stages Potential best-in-class product being viz. filing, approval and launch of th
Slide 24: Biologics & NBE
Biologics & NBE 23
Slide 25: Biologics – Growth envisioned on 4 pillars
Biologics – Growth envisioned on 4 pillars Integrated CDMO Biologics Novel Biologics Other Key updates @Dharwad ▪ Adalimumab: India market to grow ▪ Novel MAB (oncology): Term ▪ 2 CDMO projects in ▪ Biologics site at Dharwad 2x in FY26 based on approval of sheet signed with mABTree. pharmaceutical s
Slide 26: Why Recombinant Human Albumin?
Why Recombinant Human Albumin ? Predictable & assured All raw materials used High quality/Purity supply – Product in in the production are Meets Global yeast (Pichia pastoris) free from animal standards by fermentation sources Freedom from Best in class potential productivity – makes contamination t
Slide 27: Shilpa's Recombinant Human Albumin
Shilpa’s Recombinant Human Albumin Key highlights ▪ Entered into a strategic partnership with Orion Corporation for commercialization in Europe region Shilpa’s novel ▪ Under this agreement, Orion will be the exclusive partner for the distribution, marketing, and sales of Shilpa’s rHA Recombinant Hum
Slide 28: Outlook FY26 and beyond
Outlook FY26 and beyond FDF CDMO API Biologics 6 key products (NDA- Commercial launch of OLC in US Multiple complex API launches, Strong Biosimilar pipeline with Pemetrexed, NDA – Bortezomib, to kick start significant revenue growth in Specialty portfolio, various large assets completing Nilotinib,
Slide 29: Manufacturing Capabilities – API & Biocare
Manufacturing Capabilities – API & Biocare API Unit 1 - Raichur API Unit 2 - Raichur Biocare - Kadechur • Isolation, purification, separation techniques. • Fully automated integrated facility with DCS Capabilities Onco, Non-Onco APIs and peptide, having • Asymmetric synthesis. control system compete
Slide 30: Manufacturing Capabilities – Formulations & Biologics
Manufacturing Capabilities – Formulations & Biologics Formulations - Jadcherla Formulations - Bangalore Biologics - Dharwad End-to-end services, from development to commercial manufacturing of microbial & Capabilities OSD tablets and capsules; Injectables – dry Fully automated facility for Transderm
Slide 31: Financials
Financials 30
Slide 32: Profit & Loss Consolidated
Profit & Loss Consolidated Particulars (INR cr) 4Q FY25 4Q FY24 YoY 3Q FY25 QoQ FY25 FY24 YoY Revenues 338 294 15% 320 6% 1,310 1,160 13% Gross Profit 234 197 19% 230 2% 899 752 20% Gross Margin % 69% 67% 72% 69% 65% Employee Cost 71 66 7% 74 -4% 293 282 4% Other Expenses 79 58 36% 74 7% 266 218 22%
Slide 33: Balance Sheet Consolidated
Balance Sheet Consolidated Particulars (INR crs) 31-Mar-25 31-Dec-24 31-Mar-24 Fixed Assets 1,418 1,425 1,385 ▪ Tangible Assets 1,212 1,214 1,193 ▪ Intangible Assets 205 211 192 Capital WIP 822 754 719 ▪ Tangible Assets 463 423 403 ▪ Intangible Assets 359 332 316 Other Non-current Assets 73 109 103
Slide 34: Earnings call Details
Earnings call Details Shilpa Medicare 4QFY25 Results Conference Call to be held May 26, 2025, Monday at 17:00 Details of Earnings Conference Call +91 22 6280 1130 Universal Access +91 22 7115 8031 The number listed above is universally accessible from all networks and all countries International Tol
Slide 35: THANK YOU!
Shilpa Medicare Limited Monish Shah +91 2249748754 monish.shah@vbshilpa.com Ernst & Young IR THANK YOU! Runjhun Jain/Sneha Salian +91 98207 20993 / +91 98194 30437 runjhun.jain1@in.ey.com / sneha2.salian@in.ey.com 34