Shilpa Medicare Limited · NSE:SHILPAMED
Shilpa Medicare — Q2 FY23 Earnings Presentation
31 slides from Shilpa Medicare's earnings presentation, Nov 13, 2022
Slide 1: Exchange filing cover letter for investor presentation
Shilpa Medicare Limited ~I Innovating for . . affordable healthcare 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
Slide 2: Shilpa Medicare Limited Q2 & H1 FY23 Results Presentation
•• •• •• •• •• •• Innovating for affordable healthcare ••••• ••••• ••••• ••••• ••••• Shilpa Medicare Limited (SML) Q2 & H1 FY23 Results Presentation 1
Slide 3: Disclaimer
2 Disclaimer 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 API Units, Raichur many other factors that could cause our actual
Slide 4: Table of content
Table of content 3 1 Company Overview 2 Financial Performance 3 Business Highlights 4 Annexures Jf7..... I Innovating for ~ affordable healthcare
Slide 5: Company Overview
•• •• •• •• •• •• •• •• •• Company Overview •• 4
Slide 6: Company Overview
Company Overview 5 Pursuing niche growth businesses like Biologics, Transdermal & Oral Dissolving Films Formulations Established presence in Active Pharmaceutical Ingredients (APIs) and Formulations for Affordable & Robust research domestic & international markets Effective orientation resulting in
Slide 7: Managing Director's Message
Managing Director’s Message 6 Commenting on Q2 FY’23 performance, Mr. Vishnukant Bhutada, Managing Director Shilpa Medicare Limited said “Q2 FY23 marked stable performance in our API segment, where we are witnessing continued interest from clients and new enquiries being generated. Our efforts to co
Slide 8: Financial Performance
•• •• •• •• •• •• •• •• •• Financial Performance •• 7
Slide 9: Statement of Profit and Loss - SML Standalone
Statement of Profit and Loss-SML Standalone 8 (INR in Cr.) Particulars Q2 FY23 Q1 FY23 % change Q2 FY22 % change H1 FY23 H1 FY22 % change Revenues 86.8 73.5 18.1% 100.1 -13.3% 160.3 215.0 -25.5% Gross Margin 54.1 63.9 -15.4% 77.5 -30.2% 118.0 160.1 -26.3% Gross Margin % 62% 87% - 77% - 74% 74% - Emp
Slide 10: Balance Sheet - SML Standalone
Balance Sheet-SML Standalone 9 (INR in Cr.) Standalone Particulars 30-Sep-22 30-Sep-21 31-Mar-22 Fixed Assets 603.0 704.3 565.8 Tangible Assets 509.0 661.6 527.4 Intangible Assets 94.0 42.7 38.4 Capital WIP 251.5 480.4 293.1 Tangible Assets 54.1 270.0 52.6 Intangible Assets 197.4 210.4 240.5 Other N
Slide 11: Profit and loss account - Consolidated
Profit and loss account - Consolidated 10 (INR in Cr.) Particulars Q2 FY23 Q1 FY23 % change Q2 FY22 % change H1 FY23 H1 FY22 %change Revenues 267.3 269.3 -0.7% 296.6 -10% 536.5 535.9 0.1% Gross Margin 150.9 165.4 -8.8% 194.3 -22% 316.1 357.7 -12% Gross Margin % 56% 61% 66% 59% 67% Employee Cost 73.6
Slide 12: Balance Sheet - Consolidated
Balance Balance SheetSheet - Consolidated Consolidated 11 (INR in Cr.) Consolidated Particulars 30-Sep-22 30-Sep-21 31-Mar-22 Fixed Assets 1,353.7 1,172.9 1,341.8 Tangible Assets 1,154.4 1,016.8 1,182.4 Intangible Assets 199.3 156.1 159.4 Capital WIP 603.0 573.8 506.1 Tangible Assets 302.3 285.5 190
Slide 13: Business Highlights
•• •• •• •• •• •• •• •• •• Business Highlights •• 12
Slide 14: Business overview
Business overview 13 ~ ) ----------------------------------------------------------------------------------------! API: '"-'"r----- I l____ ________ :::::::::::::::::::::::::::::::::::::::::::::::::::::_______________________ :------------------------- ------------------ I ONCO I I I I I Improving
Slide 15: Business overview
Business overview 14 ---------------------------------------------------------------------------------------,I I FORMULATION: I I I I L---------------------------------------------------------------------------------------- I Launches in Europe- Pemetrexed RTU injection, Prucalopride oral Relaun
Slide 16: Q2 FY'23 Consolidated Performance
Q2 FY’23 Consolidated Performance 15 (INR in Cr.) Revenue EBIDTA -10% 1% -69% -1% -42% -49% 296.6 536.5 54.4 84.4 28.7 45.2 269.3 267.3 535.9 16.6 % to Sales 11% 6% 18% 8% 16% Q1 FY'23 Q2 FY'23 Q2 FY'22 H1 FY'23 H1 FY'22 Q1 FY'23 Q2 FY'23 Q2 FY'22 H1 FY'23 H1 FY'22 PBT PAT 23.6 29.8 - -3.3 -20.2 - 2
Slide 17: Consolidated Revenue Break-up – Q2 FY'23
Consolidated Revenue Break-up – Q2 FY’23 16 (INR in Cr.) Q1 FY’23 Q2 FY’23 Q2 FY’22 INR 269.3cr. INR 267.3cr. INR 296.6cr. Degrowth of 10% vs Q2 FY’22 ■ API 16, 6% 4.9, 2% 1.9, 1% ■ Formulation ■ Others 68.8 , 26% 100.2 , 34% 70.1 , 26% 184.5 , 68% 192.3 , 72% 194.5 , 65% Degrowth of 1% vs Q1 FY’23
Slide 18: Consolidated Revenue Break-up – H1 FY'23
Consolidated Revenue Break-up – H1 FY’23 17 (INR in Cr.) H1 FY’23 H1 FY’22 INR 536.5cr. INR 535.9cr. Growth of 1% vs Q2 FY’22 API 22.7, 4% 16.9, 3% Formulation Others 117.7 , 22% 193.4 , 36% 325.6 , 61% 396.1 , 74% I lnnMbnQ for
Slide 19: API Business
18 API Business ,Jf._ IInnovating for ~ affordable healthcare
Slide 20: API Business-Highlights Q2 FY'23
API Business-Highlights Q2 FY’23 19 (INR in Cr.) Oncology CDMO/Service CRAMS 0% 86% -13% -67% 8% 113.5 5.0 5.4 29.7 98.7 98.5 5.3 9.9 % % % contribution contribution contribution of API Sales 54% 51% 58% of API Sales 3% 3% 3% 5% 15% of API Sales Q1 FY'23 Q2 FY'23 Q2 FY'22 Q1 FY'23 Q2 FY'23 Q2 FY'22
Slide 21: API Business-Highlights H1 FY'23
API Business-Highlights H1 FY’23 20 (INR in Cr.) Oncology CRAMS 7% -49% 221.4 29.7 15.2 206.5 % % contribution Growth contribution 56% 63% 4% 9% I of API Sales 22% of API Sales I FY'23 H1 -------- FY'22 H1 ----------J ,, , ... -- ...... , ' .. FY'23 H1 FY'22 H1 ~--------~~~~~~~~~------------------:
Slide 22: DMF Filing update
DMF Filing update 21 New product introduction and increase in geographical coverage replicated with 219 number of DMF filings done with major regulatory authorities 47 45 31 20 19 16 12 11 9 7 US FDA EU/ EMEA GCC / ROW MFDS TPD-Canada TGA CHINA PMD RUSSIA MEDSAFE -2 WHO As on 30th September 2022 L.
Slide 23: Formulation Business
22 Formulation Business ,Jf._ IInnovating for ~ affordable healthcare
Slide 24: Formulation Business-Highlights Q2 FY'23
Formulation Business-Highlights Q2 FY’23 23 .---------------------- • I Europe License Fees .--ROW 1 I (INR in Cr.) I I I -10% -71% I 3900% I I -12% I I 281% I I -46% I I I I I I I I I I I I I I I I 49.0 17.1 I I 8.0 I I I I I 29.4 I I I 26.5 I I 2.1 I I % % 5.0 5.7 I I % 0.2 I I I contribution cont
Slide 25: Formulation Business-Highlights H1 FY'23
Formulation Business-Highlights H1 FY’23 24 (INR in Cr.) 1- -------------------------- : I .--------------- ------------------- : I I I Europe I I License Fees I I ROW I I I I I ---~ I I ---~ I I I I I -45% I I 214% II I 22% .____ II I II ~---- II I I I I I I I I I I I I I I I I I I I 102.6 I I I I
Slide 26: Regulatory Filings
Regulatory Filings 25 Robust regulatory filings to strength the base for growth in the formulation segment ■ Approved ■ Pending 355 28 26 6 216 13 18 5 22 13 3 13 139 2 1 US ANDA (SML) US NDA (SML) US ANDA (Customer) EU Filings ROW As on 30th September 2022 ,£,,.. I Innovating for ~ affordable healt
Slide 27: Annexures
•• •• •• •• •• •• •• •• •• Annexures •• 26
Slide 28: Manufacturing Excellence
Manufacturing Excellence 27 Dharwad Jadcherla Unit • Biologicals Manufacturing plant & R&D • Formulations (Onco & Adjuvant Therapy Facility • of Onco – Injectable & Oral) Bengaluru Unit Hyderabad • Formulations (Oral Dissolving Films) • TDS & ODF Manufacturing Facility & • Bio Analytical Lab, Pharma
Slide 29: Giving back to society
Giving back to society 28 Shilpa Medicare Limited works with Shilpa Foundation to carry out various CSR activities below are few of the many activities carried out in Q1 FY’23 Donated Tractor and 5,000 Liters water tank to green Raichur organization for watering the plants 1. Conducted Health camp f
Slide 30: About Shilpa Medicare Ltd.
About Shilpa Medicare Ltd. 29 Shilpa Medicare Limited (SML) started its operations as API manufacturer way back in 1989 at Raichur, Karnataka- India. Today Shilpa Medicare Limited is a global brand in manufacturing and supplying of affordable API and Formulation globally in different regulated marke
Slide 31: Thank You
30 Thank You ,Jf._ IInnovating for ~ affordable healthcare