Blue Jet Healthcare Limited · NSE:BLUEJET
Blue Jet Healthcare — Q3 FY24 Earnings Presentation
45 slides from Blue Jet Healthcare's earnings presentation, Feb 7, 2024
Slide 1: Submission of Analysts/Investors Presentation to exchanges
BLUE JET HEALTHCARE LIMITED REGISTERED & CORPORATE : 701 & 702, BHUMIRAJ COSTARICA, PLOT 1 & 2, SECTOR - 18, SANPADA, NAVI MUMBAI - 400705 T : 022- 41840550 / 40037603 F : + 91 22 27814204 BLUE JET E: sales@bluejethealthcare.com I CIN NO.: L99999MH1968PLC014154 HEALTHCARE February 7, 2024 To, BSE Li
Slide 2: Investor Presentation February 2024
BLUE JET HEALTHCARE Investor Presentation February 2024
Slide 3: Disclaimer
Disclaimer vrocnsvctissssuszasasausansaseussasasssuiasussssusasesesuassssssusnsasessussssssisasissssissnssssunsssesisassessussssseusasssssuasisssuassasenisssssessasesseusassaseseesee ee® The Presentation is to provide the general background information about the Company's activities as at the date o
Slide 4: Contents
Contents Q3 & 9M FY24 Financials S WN PP WMeENow Company at a Glance Contrast Media Intermediates High Intensity Sweeteners Pharma Intermediates & API Chemistry and Manufacturing Capabilities Growth Strategy Management and Board of Directors Investment Rationale
Slide 5: 1. Q3 & 9M FY24 Financials
1. Q3 & 9M FY24 Financials
Slide 6: Q3 & 9M FY24 Earnings Highlights (Q3FY24)
Q3 & 9M FY24 Earnings Highlights ee@ Financial Highlights Q3FY24 v¥ Revenue from operations for Q3FY24 stood at Rs. 1,668 mn which de-grew 1% on YoY basis compared to Rs. 1,690 mn in Q3FY23. v EBITDA for the quarter came at Rs. 546 mn, which was up 5% YoY compared to Rs. 517 mn in Q3FY23. v EBITDA m
Slide 7: Q3 & 9M FY24 Earnings Highlights (9MFY24)
Q3 & 9M FY24 Earnings Highlights ee@ Financial Highlights O9MFY24 v¥ Revenue from operations for 9M FY24 stood at Rs. 5,277 mn which grew by 5% on YoY basis compared to Rs. 5,037 mn in 9M FY23. Vv EBITDA for 9M FY24 came at Rs. 1,762 mn up 18% YoY compared to Rs. 1,488 mn in 9M FY23. ¥ EBITDA margin
Slide 8: Q3 & 9M FY24 Business Highlights
Q3 & 9M FY24 Business Highlights Business Highlights v Launched one more product in PI /API segment during Q3FY24, the benefit of commercialization of new product in Pharmaceutical Intermediate to be realised in the coming quarters. v The property, stock damages and workman compensation due to the f
Slide 9: Q3FY24 Financial Performance — Key Metrics
Q3FY24 Financial Performance — Key Metrics Revenue from Operations — Growth Trends (8s vn) YoY Growth: (8.4%) —————> (35.1%) ———> 249.0% —— 759.9% —_ (1.4%) @ Q3FY23 @ Q3FY24 1,685 1,661 1,223 1,120 382 247 275 i a —_ : 18 Contrast media intermediates High-intensity sweetners Pharma intermediates an
Slide 10: 9MFY24 Financial Performance — Key Metrics
O9MFY24 Financial Performance — Key Metrics Revenue from Operations — Growth Trends (8s vn) YoY Growth: 8.2% ———- (33.2%) ——— 194.7 ——— 325.7% 4.6% 5,022 3,402 3,682 1,411 942 589 200 " 9 39 Contrast media intermediates High-intensity sweetners Pharma intermediates and API Others Total Note: Total R
Slide 11: Profit and Loss Statement
Profit and Loss Statement Particulars (Rs. Mn) Q3FY24 Q3FY23 Q2FY24 O9MFY24 9MFY23 COGS 709 760 783 2,284 2,356 Gross Margin 57.5% 55.0% 56.8% 56.7% 53.2% Employee benefits expenses 130 111 133 391 307 Other expenses 283 301 271 840 887 Total Expenses 1,122 1,172 1,187 3,515 3,549 EBITDA Margin 32.7
Slide 12: Financial Performance over the years — Key Metrics
Financial Performance over the years — Key Metrics Revenue from operations — Growth Trends (as mn) FY21-23 CAGR: 19.7% 33.5% —— (9.8%) a . 245.1% ——— 20.6% MFY21 MFY22 W@FY23 9MFY23 7,185 6,768 5,253 4,778 7070 3,682 1,575 1,759 942 on : 418 EE 412 340 | 989 es : 133 3 16 | 39 Contrast media interme
Slide 13: Financials for the last three years
Financials for the last three years Summary Statement of Profit and Loss Summary Statement of Assets and Liabilities Particulars (Rs. Mn) FY21 FY22 FY23 H1FY24 Particulars (Rs. Mn) FY21 FY22 FY23 H1FY24 I. Assets Revenue from Operations 4,989 6,835 7,210 3,609 Property, plant and equipment 1188 1185
Slide 14: Shareholder Information
Shareholder Information Shareholding as on 31% December 2023 Share Information as on 31st December 2023 NSE Ticker BLUEJET Others ME 7.4% BSE Ticker 544009 Other Dils 22% 1.5% Market Cap (INR Cr) 6,384 Fil 29% % free-float 14% Free-float market cap (INR Cr) 894 Cash & Cash Equivalents (INR 275 Mn) S
Slide 15: 2. Company at a Glance
2. Company at a Glance
Slide 16: Our Journey
Our Journey e@ ™ Received USFDA Establishment Inspection Report of Blue Circle m= Commenced semi- Organics Private automated Limited for Unit I manufacturing block @ Established Blue for contrast media Circle Organics intermediate business m Began m Commenced Private Limited (at manufacturing ™ Ente
Slide 17: A specialty pharma and healthcare ingredient intermediate company
- A specialty phart healthcare ingre intermediate niche product: “Collaboration, Manufacturing”
Slide 18: Blue Jet Healthcare at a glance
Blue Jet Healthcare at a glance Key metrics 441 1,020.90k: INR7,209.82mn INR2,190.88mn Commercialized product reaction capacity across Revenue (FY23) (20.2% FY21-23 CAGR) EBITDA (FY23) (30.39% margin) portfolio (QMFY24) 3 facilities (QMFY24) J / INR 275.03 mn 31.91% 26.60% 5.62x . Cash and Cash Equi
Slide 19: Overview of our Business Segments
Overview of our Business Segments °e@ > Es Contrast Media Intermediates & High Intensity Sweeteners > Ng Pharma Intermediates & APIs @ Contrast media are agents used in medical imagingto @ High-intensity sweetener business involves & Collaboration with innovator pharmaceutical enhance the visibility
Slide 20: 3. Contrast Media Intermediates
3. Contrast Media Intermediates
Slide 21: Overview of Contrast Media and its growth drivers
Overview of Contrast Media and its growth drivers What is contrast media? Types of contrast media H Chemical agents that enhances the contrast of an imaging modality in diagnostic . ; . . ae . . . = X-ray / Computed Tomography (CT) contrast agents: iodine-based contrast media imaging, thereby aiding
Slide 22: Overview of Contrast Media and its growth drivers (cont'd)
Overview of Contrast Media and its growth drivers (cont’d) Segmental breakdown of Contrast Media Growth Forecasts for Contrast Media lodine based contrast media Microbubble 2% = Pre-COVID growth (2014-18) = Historical value growth (2019-23) = Forecasted value growth (2023-25) Gadolinium 24% 12-15% M
Slide 23: The global Contrast Media industry is highly concentrated
The global Contrast Media industry is highly concentrated Global Contrast Media competitive landscape Player 1 Vv) Highly concentrated and dominated by multi-national 17% Others corporations, 25% Total value Player 2 |X USS5.9bn Player 4 Jun 2023) 20% Vv) Collectively hold ~75% of the global sales o
Slide 24: High entry barriers for key intermediates' vendors
High entry barriers for key intermediates’ vendors Characteristics of the Contrast Media market Blue Jet's positioning Contrast Media Intermediate segment performance In INRmm v More than two decades of experience Strict internal standards for Vv 75%+ of exports of a selected contrast media intermed
Slide 25: Continue to forward integrate into more advanced intermediates for Contrast Media
Continue to forward integrate into more advanced intermediates for Contrast Mees @ © Key benefits Strong product development and process optimization capabilities underpinned by in-house R&D capabilities @ Y Capture larger wallet share with as existing customers \ 4 Focus on molecules with customer
Slide 26: 4. High Intensity Sweeteners
4. High Intensity Sweeteners
Slide 27: High intensity sweetener industry growth
Global high intensity 37,000- Oral care sweetener (USS$2.9-3.0bn) 40,000MT : 5-6% (2023) Capacity ~3,000- Non-alcoholic beverages 4,000MT+ 6-8% BlueJet.gapacity Bakery and Confectionery algerie : 5—-6% 6%-7% (12-14%) Industry growth Vitamins & Dietary Supplements 33.48% 3 A-6% Bluejet growth Pharma
Slide 28: Overview of High Intensity Sweetener market and its growth drivers
Overview of High Intensity Sweetener market and its growth drivers e @ © Several drivers contributing to the demand... ..Of high intensity sweetener market L) Growing incidence of diabetes and obesity: ~537mm adults living with diabetes in 2023; projected to rise to Saccharin accounted for ~12- 643m
Slide 29: Blue Jet's positioning in High Intensity Sweetener segment
Blue Jet’s positioning in High Intensity Sweetener segment °e@ Blue Jet's positioning High Intensity Sweeteners segment performance Revenue (INR mn) /- Products @ Adherence to strict internal standards to ensure consistency in quality, performance, taste, and impurity profile @ Multiple products and
Slide 30: 5. Pharma Intermediate & API
5. Pharma Intermediates & API
Slide 31: Trends and features of the Pharma Intermediates and APIs segment
Trends and features of the Pharma Intermediates and APIs segment Features of a typical arrangement to supply of intermediates to Key trends in Pharma Intermediates and CDMO market innovators of NCEs >) t@ Increased propensity to outsource manufacturing of intermediates & APIs Revenue and capacity ut
Slide 32: Overview of Blue Jet's Pharma Intermediates and APIs segment
Overview of Blue Jet’s Pharma Intermediates and APIs segment °e@ m™ Commenced manufacturing pharma intermediates two decades Pharma Intermediate and APIs segment performance ago, leveraging the customer relationships through high-intensity In INR mn Se sweetener business pss ™ Key focus areas includ
Slide 33: Leverage long-standing customer relationships to enter adjacencies in pharma intermediates and API
Leverage our long-standing customer relationships to continue entering adjacencies in the pharma intermediate and API category Focus on three niche areas in providing CDMO services Blue Jet’s positioning Investigational new drugs and new chemical entities (NCEs) ™ Develop advanced intermediates for
Slide 34: 6. Manufacturing and R&D Capabilities
6. Manufacturing and R&D Capabilities
Slide 35: Build additional production capacity to keep in step with customer demands
Build additional production capacity to keep in step with the envisaged increase in customer demands vnocsstivssssssntitiestnusssicassssiveisssssssusssesseuasissssunsasessunasssssuasassssiusnsssssasssseusassassussssssesssasesssunsasssuassssesisussssssasseseusssasessesee ee® Key features Capacity enh
Slide 36: Our R&D framework
Our R&D framework R&D capabilities across Process research Portfolio evaluation Process development Process scale-up and validation Regulatory filings and approvals » Analytical research Chemistry research Method development Characterization of Polymorphism screening Pharmaceutical salt Literature s
Slide 37: Sustainability
Sustainability > Various initiatives on energy efficiency, renewable energy, and water conservation to reduce carbon footprint Invested in windmills with installed capacity of 3.3MW Created carbon sinks +t Focus on enhancing through tree plantations energy efficiency Effluent treatment plants with m
Slide 38: 7. Growth Strategy
7. Growth Strategy
Slide 39: Our strategies
Our strategies svastntnesstossneespsvsnvntntetnintnesnsseneesnetntnetnievnssntnetnsnetneintinesevneeseetnitntnesniesnentnentneentesnietneeniesnisneeese ee® Focus on operational efficiency and Continue to forward integrate into more mitigation of supply chain risks (orn advanced intermediates for Con
Slide 40: Slide 40
Slide 41: Experienced and visionary management team backed by independent Board of Directors
Experienced and visionary management team backed by independent Board of Directors Management team Akshay Bansarilal Arora Shiven Akshay Arora Executive Chairman Managing Director @ Has more than three decades of experience with the Company @ Has more than six years of experience with the Company ®
Slide 42: Experienced and visionary management team backed by independent Board of Directors (cont'd)
Experienced and visionary management team backed by independent Board of Directors (cont’d) Management team (cont’d) Archana Akshay Arora Sweta Poddar Head — Business Development Company Secretary and Compliance Officer @ Has over 28 years of experience with the Company ™ Has experience of over a de
Slide 43: 9. Investment Rationale
9. Investment Rationale
Slide 44: Investment Rationale
Investment Rationale vovosttnnussasansustsineusssissstsrussuystusssusasssssssusansssesiusasassssisussssisesisassesisssuasssisssuuusssissssussesssssuasisssssuasiesssuuassesssissesesssiunsesee ee® Cy . Large manufacturer of contrast media intermediates in India Cay 2. Presence in niche categories with
Slide 45: Thank You
Thank You February 2024 BLUE JET HEALTHCARE LIMITED INVESTOR RELATIONS AT Registered Office Bluejet Healthcare Limited 701,702, 7th Floor, Bhumiraj Costarica, ©) Sanjay Sinha, Deputy Chief Financial Officer Sector 18, Sanpada, Navi Mumbai Thane sanjay.sinha@bluejethealthcare.com 400705, Maharashtra,