Jb Chemicals & Pharmaceuticals Ltd. · NSE:JBCHEPHARM
Jb Chemicals & Pharmaceuticals — Q3 FY24 Earnings Presentation
25 slides from Jb Chemicals & Pharmaceuticals's earnings presentation, Feb 6, 2024
Slide 1: Company Presentation cover letter to NSE
February 6, 2024 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 nine
Slide 2: JB Pharma – Q3 and 9M FY24 Investor Presentation
JB Pharma – Q3 and 9M FY24 Investor Presentation February 6, 2024 www.jbpharma.com jbpharma/
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, global leader
>. 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
47 5 40+ Top 5 Brands among top 300 brands Regulated/semi-regulated Global manufacturer of Years of operations with (IQVIA MAT Dec’23 data), markets of presence through medicated/herbal lozenges consistent track record across contributing over 50% of direct operations and representing a substantial
Slide 6: Corporate Snapshot – Financial Overview
Corporate Snapshot – Financial Overview Revenue (INR cr) PAT (INR cr) ^Op EBITDA Margin (%) ROE (%) ROCE (%) 27.4% 42% 25.0% 24.3% 21.3% 18.6% 3,149 29% 15.4% 24% # 2,424 22% 21% 2,043 25% 1,643 1,775 15% 1,413 19% 18% 17% 449 410 13% 272 386 139 194 10% FY18 FY19 FY20 FY21 FY22 FY23 FY18 FY19 FY20
Slide 7: World Class Manufacturing Facilities
World Class Manufacturing Facilities 8 40+ 10 State of the Art Global Dosage forms manufacturing Regulatory produced facilities Accreditations Tablets Capsules Liquids IV Infusions Ampules Vials Ointments Cold Rubs Lozenges Sips 6
Slide 8: Q3 and 9M FY24 Business Performance
Q3 and 9M FY24 Business Performance
Slide 9: CEO’s Message
CEO’s Message Our focus on growing the domestic business ahead of the market continues, as reflected in the Q3 performance. The business once again stands out in this quarter. For CY 2023, we are the fastest growing company within IPM amongst the top 25 pharma companies. We are excited about our rec
Slide 10: Results Overview: Q3 and 9M FY24
Results Overview: Q3 and 9M FY24 Revenues (INR crores) 10% o JB Pharma registered revenue of INR 845 crores in Q3 FY24 (YoY growth of 7%) and INR 2622 crores in 9M FY24 2,622 (YoY growth of 10%) 2,387 7% • Overall revenue growth impacted by strategic choices made in international business especially
Slide 11: EBITDA Analysis
EBITDA Analysis INR crores Q3 FY24 Q3 FY23 9M FY24 9M FY23 Revenue 845 793 2622 2387 Reported EBITDA 223 175 699 532 Non Cash ESOP Charge 12 18 30 52 Included in Employee Benefits expense ^Operating EBITDA (excluding ESOP 235 193 729 584 charge) Operating EBITDA margins 27.8% 24.3% 27.8% 24.5% 10 ^O
Slide 12: Financial Overview Q3 and 9M FY24
Financial Overview Q3 and 9M FY24 Op. EBITDA (INR crores) 27.8% o Operating EBITDA was INR 235 crores in Q3 FY24 (YoY 24.5% growth of 22%) and INR 729 crores in 9M FY24 (YoY growth 729 of 25%) 27.8% 584 • Operating EBITDA margin was 27.8% in Q3 FY24 (YoY improvement of 350 bps) and 27.8% in 9M FY24
Slide 13: Domestic Business Q3 and 9M FY24
Domestic Business Q3 and 9M FY24 Domestic Formulations (INR crores) o Domestic business revenue was INR 462 crores (YoY 14% growth of 14%) in Q3 FY24 and INR 1432 crores in 9M FY24 (YoY growth of 14%) o Chronic business continued to perform well while the 1432 acute business witnessed recovery despi
Slide 14: JB continues as one of the fastest growing companies
JB continues as one of the fastest growing companies, maintaining a market beating performance Among top 25, JB is the Fastest growing company fastest growing pharma Leadership position among the Top 25 in the IPM as company in the IPM in the covered markets per IQVIA MAT Dec’23 data 16% Vs IPM grow
Slide 15: Rank Improvement in the top brands
Rank Improvement in the top brands MAT Dec’22 Value Sales* MAT Dec’23 Value Sales* MAT Dec’22 Rank MAT Dec’23 Rank CILACAR 305 371 #46 #34 RANTAC 333 365 #37 #37 METROGYL 158 204 #145 #108 NICARDIA 132 167 #197 #154 CILACAR-T 129 161 #203 #163 14 All data as per IQVIA *INR crores
Slide 16: Sporlac: Inching towards INR 100 crores
Sporlac: Inching towards INR 100 crores 99 crores Sporlac Franchise 85 crores INR 65 crs INR 121 crs IQVIA MAT Dec’21 IQVIA MAT Dec’23 61 crores 16% 39% SPORLAC MAT Dec’21 MAT Dec’23 MAT Dec’22 SPORLAC GG Sporlac brand is INR 99 crores (IQVIA MAT Dec’23 data) SPORLAC PLUS registering strong YoY grow
Slide 17: JB Pharma enters the fast-growing Ophthalmology market – Deal Contours
JB Pharma enters the fast-growing Ophthalmology market – Deal Contours • JB Chemicals & Pharmaceuticals Ltd (JB Pharma) at its Board meeting held on Dec 19, 2023 approved the execution of a Trade-Mark License Agreement with Novartis Innovative Therapies AG, Switzerland which is perpetual in nature,
Slide 18: Strong brands with good growth prospective – Chronic portfolio
Strong brands with good growth prospective – Chronic portfolio Brand Size Market Size Brand Rank in Brand Molecule CVM Growth* (INR crores) (IQVIA) CVM Simbrinza BRIMONIDINE+ 19 63 22% #1 BRINZOLAMIDE Travatan TRAVOPROSTT 33 76 9% #1 Travacom TIMOLOL + 16 29 9% #1 TRAVOPROST Azopt BRINZOLAMIDE 16 41
Slide 19: Strong brands with good growth prospective – Acute portfolio
Strong brands with good growth prospective – Acute portfolio Brand Size Market Size Brand Rank in Brand Molecule CVM Growth* (INR crores) (IQVIA) CVM Vigamox MOXIFLOXACIN 62 275 22% #1 Nevanac NEPAFENAC 33 159 11% #1 Ilevro NEPAFENAC 6 159 11% #8 DEXAMETASONE Vigadexa 10 92 20% #2 +MOXIFLOXCIN Patad
Slide 20: Significant value accretion for JB Pharma
Significant value accretion for JB Pharma Leadership position in the Ophthalmology segment aligned with our overall philosophy of operating in leading brand categories Access to therapeutic segment which is growing at a faster rate than IPM PCPM* of the portfolio expected to be upward of INR 12 lakh
Slide 21: International Business Q3 and 9M FY24
International Business Q3 and 9M FY24 386 383 -1% 267 265 -7% o International business recorded revenue of INR 383 crores in Q3 FY24 and INR 1190 crores in 9M FY24 26% • Excluding South Africa, the business registered YoY growth 96 89 of 4% in Q3 FY24 and 13% in 9M FY24 23 29 o International formula
Slide 22: Q3 and 9M FY24 Financial Performance (Consolidated)
Q3 and 9M FY24 Financial Performance (Consolidated) Particulars Q3 FY24 Q3 FY23 YoY Growth 9M FY24 9M FY23 YoY Growth Revenue from Operations 845 793 7% 2622 2387 10% Cost of Goods Sold 273 299 -9% 882 893 -1% Gross Profit 571 494 16% 1741 1494 17% Gross Profit Margins 67.6% 62.3% 66.4% 62.6% Employ
Slide 23: 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 CDMO business ai
Slide 24: 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 Jason D’Souza / Ayush Kumar Garg segment. Besides i
Slide 25: Thank you
Thank you www.jbpharma.com 24
J. B. Chemicals & Pharmaceuticals — Q3 FY24 Earnings Presentation on 6ix