Shilpa Medicare Limited · NSE:SHILPAMED
Shilpa Medicare — Q2 FY25 Earnings Presentation
20 slides from Shilpa Medicare's earnings presentation, Nov 13, 2024
Slide 1: Investor Presentation Cover Letter to Stock Exchanges
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: 13 November 2024 To, Corporate Relationshi
Slide 2: Shilpa Medicare Ltd Q2FY25 Earnings Presentation
Shilpa Medicare Ltd Q2FY25 Earnings Presentation 13 November 2024
Slide 3: Management Commentary
Management Commentary “Our strategic focus on delivering innovative solutions and driving operational excellence continues to yield strong business performance. The recent positive developments in our formulations and CDMO businesses are particularly exciting. The recent acceptance of Oxylanthanum C
Slide 4: Business Updates
Business Updates Launching first generic of Nilotinib in the EU market (EU Mkt Size US$ 413 mn*) in Q3, in partnership with EU’s No.1 generic company Formulation Approval received for Axitinib for EU market - launch planned upon patent expiry next year Launched 1st NDA Product Pemetrexed RTU i
Slide 5: Q2 FY25 - Financial Performance
Q2 FY25 - Financial Performance (INR in Cr.) Q2 FY25 (Consolidated) Revenue Break-up Others, 5.7, Particulars Q2 FY25 Q2 FY24 YoY Q1 FY25 QoQ Biologicals, 2% Total 30.7 , 9% 348.8 314.8 11% 302.0 16% Revenue 4% 5% Gross Profit 226.8 189.0 20% 209.1 8% GP Margin 65% 60% 69% Formulation, 119.6 , 34% E
Slide 6: H1 FY25 - Financial Performance
H1 FY25 - Financial Performance (INR in Cr.) H1 FY25 (Consolidated) Revenue Break-up Particulars Others, 16.2, H1FY25 H1FY24 YoY Biologicals, (INR cr) 3% 46.2 , 7% Total Revenue 650.7 576.9 13% 2% 7% Gross Profit 435.8 363.0 20% Formulation, GP Margin 67% 63% 223.3 , 34% EBITDA 174.0 111.9 55% H1 FY
Slide 7: Consolidated Performance
Consolidated Performance (INR in Cr.) Revenues EBITDA and Margins 28% 26% 27% 24% 25% 651 19% 577 20% 174 349 112 315 289 294 302 83 91 62 68 73 Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 H1 FY24 H1 FY25 Q2FY24 Q3FY24 Q4FY24 Q1FY25 Q2FY25 H1 FY24 H1 FY25 PBT and Margins PAT and Margins 8% 10% 5% 11% 5%
Slide 8: API Business – Q2FY25 Highlights
API Business – Q2FY25 Highlights (INR in Cr.) Oncology Non-Oncology CDMO Polymer Others Total 26% 12% 145% 158% 20% 13% 114.6 220.4 YoY 84.6 89.8 78.7 192.8 19.6 8.0 2.0 5.3 5.9 4.7 Q2 FY24 Q2 FY25 0% 7% 70% 289% 153% 12% QoQ 192.8 84.6 84.6 172.7 73.3 78.7 11.5 19.6 1.4 5.3 1.9 4.7 Q1 FY25 Q2 FY25
Slide 9: API Business – H1FY25 Highlights
API Business – H1FY25 Highlights (INR in Cr.) Non- Oncology CDMO Polymer Others Total Oncology 13% 6% 91% 85% 28% 5% 195.2 386.0 169.2 365.0 162.5 152.0 YoY 31.1 16.3 3.6 6.6 8.4 6.1 H1 FY24 H1 FY25 8
Slide 10: API – Ongoing Developments
API – Ongoing Developments Plant validation for two new molecules Mycophenolate Mofetil and Mycophenolate Sodium expected in Q4 FY25 Palbociclib validation is ongoing and expected to complete in Q3 FY25 API Molecules Olaparib validation is expected to complete in Q4 FY25 Tranxemic Acid expan
Slide 11: Filings – API
Filings – API API – DMF Filings 59 45 35 23 22 17 14 12 10 8 USFDA EU/EMEA GCC & ROW MFDS Canada Australia China PMDA Japan Russia NZ New product introduction and increase in geographical coverage replicated with 245 DMF filings with major regulatory authorities 12 As on 30th September 2024
Slide 12: Formulations Business – Q2FY25 Highlights
Formulations Business – Q2FY25 Highlights (INR in Cr.) Licensing/ US Europe RoW Domestic Total Service 5% 38% 158% 12% 89% 40% 119.6 YoY 62.1 32.9 85.7 19.6 18.6 20.5 21.1 12.8 8.2 4.4 5.0 Q2 FY24 Q2 FY25 85% 18% 32% 8% 8% 15% QoQ 119.6 57.4 62.1 103.7 18.6 15.6 12.8 16.0 21.1 10.1 4.6 5.0 Q1 FY25 Q
Slide 13: Formulations Business – H1FY25 Highlights
Formulations Business – H1FY25 Highlights (INR in Cr.) Licensing/ US Europe RoW Domestic Total Service 38% 39% 164% 1% 39% 26% YoY 119.5 223.3 86.0 177.5 46.9 37.1 28.7 28.4 20.8 14.1 9.7 9.6 H1 FY24 H1 FY25 12
Slide 14: Formulations – Ongoing Developments
Formulations – Ongoing Developments NOR - UDCA Phase III Studies for NAFLD completed and dossier submitted to Indian regulatory body SMLNUD07 Launch expected in next fiscal year Transdermal Patch for treatment of Parkinson’s disease ROTIGOTINE US Study planned to initiate in Q3 FY25 SMLTDP08
Slide 15: Filings – Formulations
Filings – Formulations Formulations – Regulatory Filings Pending Approved 27 3 77 505 14 260 2 60 13 245 1 17 US ANDA US NDA EU ROW Robust regulatory filings to strengthen the base for growth in the formulation segment 14 As on 30th Sep 2024
Slide 16: Biosimilars – Ongoing Developments
Biosimilars – Ongoing Developments Received additional indications (Crohn’s disease and Ulcerative colitis in adults) from Indian agency Adalimumab Likely to help in gaining more market share Used to treat Neovascular (Wet) Age-Related Macular Degeneration, Macular Edema (Diabetic and Retinal
Slide 17: Financials
Financials Innovating for affordable healthcare
Slide 18: P&L Consolidated
P&L Consolidated (INR in Cr.) Q2 FY25 Q1 FY25 % change Q2 FY24 % change YTD Sep 24 YTD Sep 23 % change Particulars Revenues 348.8 302.0 16% 314.8 11% 650.7 576.9 13% Gross Margin 226.8 209.1 8% 189.1 20% 435.8 363.0 20% Gross Margin % 65% 69% 60% 67% 63% Employee Cost 76.2 72.1 6% 73.1 4% 148.3 145.
Slide 19: Balance Sheet Consolidated
Balance Sheet Consolidated (INR in Cr.) Particulars 30-Sep-24 30-Jun-24 30-Sep-23 Fixed Assets 1,362.8 1,369.7 1,360.9 Tangible Assets 1,168.1 1,181.6 1,160.0 Intangible Assets 194.7 188.0 201.0 Capital WIP 785.3 744.4 681.2 Tangible Assets 455.3 420.5 389.1 Intangible Assets 330.0 323.8 292.1 Other
Slide 20: Thank You
Thank You Shilpa Medicare: Ernst & Young IR : Dilip Kankani Runjhun Jain/ Sneha Salian Contact: +91 8532 238704 Contact: +91 98207 20993 / +91 98194 30437 Email: dilipkankani@vbshilpa.com Email: runjhun.jain1@in.ey.com / sneha2.salian@in.ey.com 19