Slide 1: Cover letter to BSE and NSE
October 20, 2023 To To The Corporate Relations Department The Listing Department BSE Limited National Stock Exchange of India Limited Phiroz Jeejeebhoy Towers, 25th Floor, Exchange Plaza, Dalal Street Bandra Kurla Complex, Bandra (East) Mumbai – 400001 Mumbai – 400 051 Code: 540222 Code: LAURUSLABS
Slide 2: Q2 & H1 FY 2024 Financial Results and Business Update
Q2 & H1 FY 2024 Financial Results and Business Update October 20 , 2023
Slide 3: Safe Harbor Statement
Safe Harbor Statement This presentation contains statements that constitute “forward looking statements” including and without limitation, statements relating to the implementation of strategic initiatives, and other statements relating to our future business developments and economic performance. W
Slide 4: Agenda
Agenda 1 Corporate Overview 2 Financial Overview 3 Business Review & Strategy 4 Outlook 3 Laurus Q2 & H1 FY 2024 Investor Presentation | October 20, 2023
Slide 5: Corporate Overview
1. Corporate Overview 4 Laurus Q2 & H1 FY 2024 Investor Presentation | October 20, 2023
Slide 6: Executive Summary
Executive Summary Overall performance resilient ex-PO1 ; Core growth rebounding on healthy demand environment in API and FDF business. CDMO business project pipeline scaled up along with expansion of our strategic manufacturing partnerships ₹ 2,406 Cr Revenues for H1, declined 23%. Excluding PO,
Slide 7: Advancing and augmenting our operational excellence
Advancing and augmenting our operational excellence 1 Operational excellence 2 Value enhancing BD 3 Transformative technology Expanded application of new edge Multi-Year Commercial Contract with India’s first CAR-T cell therapy, NexCAR19 technology into small molecules like; Flow leading Globa
Slide 8: Delivering Capex projects to support Future growth
Delivering Capex projects to support Future growth New Capacities brought on line in FY23 CDMO, VTZ^ Expected to come on line in FY24 BIO, BLR^ Animal Health (AH) Future Capex (LSPL-U2)- Development & Mfg. facility Precision Fermentation, AOF r-proteins Commercial activities started at 1st block in
Slide 9: Strategic Investment - Delivering commitment on breakthrough technology
Strategic Investment - Delivering commitment on breakthrough technology Highlights of our journey Recent Collaboration and Initiative Increasing stake to ~88% Retain Goal Precision Integrated offering with capabilities across rh- to Invest up to 10% Fermentation September 2023 Protein, Bio-catal
Slide 10: NexCAR19
Achieved breakthrough innovation Now Approved India’s first indigenously developed CAR-T cell therapy, NexCAR19 granted marketing approval from CDSCO on NexCAR19 October 12, 2023 (Actalycabtagene autoleucel) Treatment eligible for Adult patients with relapsed or CAR-T Product refractory B-cell l
Slide 11: R&D focus: Strong pipeline & Platform with over 2300 Scientist & Quality team
R&D focus: Strong pipeline & Platform with over 2300 Scientist & Quality team US/EU pipeline by Addressable market R&D spent & Filing trend US Filings by Therapy Mix $ 49 bn 60 61 73 79 82 DMFs 500 6% Para IV: 16 450 26 27 31 37 38 ANDAs 16% FTFs: 11 400 4.4% 60% 5.7% 3.8% 4.1% 3.5% 350 $ 28bn Non-A
Slide 12: Unwavering Regulatory and Quality foundation
Unwavering Regulatory and Quality foundation Laurus Philosophy “One Quality Standard for All Markets” No of USFDA Year Last US FDA – Facility Regulatory Certifications audits (since 91 started Inspection status inception) Total Regulatory Audits Kilo Lab – USFDA, TGA, KFDA, PMDA, ANVISA R&D Brazil 2
Slide 13: Putting Quality and Excellence at the center of everything we do
Putting Quality and Excellence at the center of everything we do FY 2023 ESG Report released Guided by our purpose of fostering a healthier world by delivering best quality and affordable healthcare solution Our purpose is anchored in core values of Knowledge, Innovation, Excellence, Integrity, and
Slide 14: Financial Overview
2. Financial Overview 13 Laurus Q2 & H1 FY 2024 Investor Presentation | October 20, 2023
Slide 15: 1H FY24 – Financial Performance
1H FY24 – Financial Performance Core growth rebounding on healthy demand environment 1H/FY24 Consolidated Financials Comments [₹Crore] 1H/FY24 2 1H/FY23 1 Y-o-Y 2,406 3,115 Revenues : ₹ 2,406 Cr, declined 23% YoY, impacted by particularly strong Revenues -23% CDMO-Synthesis revenues in base year,
Slide 16: Financial Performance 2Q/FY24
Financial Performance 2Q/FY24 Q2 recovery; Demand uptrend intact 2Q/FY24 Consolidated Financials Comments [₹Crore] 1Q/FY24 2Q/FY24 1 2Q/FY23 Y-o-Y Q-o-Q Revenues : ₹ 1,224 Cr, declined 22% YoY, particularly from strong CDMO- Revenues 1,182 1,224 1,576 -22% 4% Synthesis revenues in base year, howev
Slide 17: 1H FY24 - Business Performance
1H FY24 - Business Performance Overall resilient ex-large PO^ Formulation (FDF) 1H/FY24 Segment Performance In-line Q2 recovery in ARV business driving +24% growth in H1 and continue to track healthy underlying demand [₹ Crore] 1H/FY24 1H/FY23 Y-o-Y Developed markets sales increased on higher vo
Slide 18: Summary Quarterly Performance
Summary Quarterly Performance Revenues EBITDA & Margins % [₹ Cr] [₹ Cr] 700 38.0% 28.2% 29.5% 28.5% 33.0% 1,576 600 27.9% 1,539 1,545 26.1% 28.0% 1,425 500 1,381 20.8% 23.0% 400 454 449 15.4% 1,182 1,224 404 14.2% 300 398 18.0% 1,029 13.0% 200 290 287 8.0% 100 168 188 3.0% 0 -2.0% 3Q 4Q 1Q 2Q 3Q 4Q
Slide 19: Business review & Strategy
3. Business review & Strategy 18 Laurus Q2 & H1 FY 2024 Investor Presentation | October 20, 2023
Slide 20: Business Performance 2Q/FY24
Business Performance 2Q/FY24 Tracking in-line; Rebound led by Non-ARV API + FDF business 2Q/FY24 Segment Performance Formulation (FDF): Sharp rebound; +16% QoQ following ARV offtake [₹ Crore] 1Q/FY24 2Q/FY24 2Q/FY23 Y-o-Y Q-o-Q by global agencies and stable pricing. Strong YoY driven by low base l
Slide 21: Generic FDF
Generic FDF Rebound; Market dynamics stable Revenue Growth Global Filings 393 [₹ Cr] ROW 47 14 61 332 285 249 Canada 13 8 21 Approved Y-o-Y ▲ 123% Pending 149 Q-o-Q ▲ 16% EU 14 4 18 US 28 10 38 2Q 3Q 4Q 1Q 2Q * Includes 13 Tentative approvals in US FY23 FY23 FY23 FY24 FY24 Revenues during Q2 incre
Slide 22: Generic APIs
Generic APIs Q1 impact reversing Revenue Growth API Sales mix 714 [₹ Cr] 8% 9% 12% 18% 19% 680 23% 33% 29% 22% 33% 632 Onco API 629 Y-o-Y ▼ 8% Other API 597 Q-o-Q ▲ 5% 59% 59% 68% 59% ARV API 49% 2Q 3Q 4Q 1Q 2Q 2Q 3Q 4Q 1Q 2Q FY23 FY23 FY23 FY24 FY24 FY23 FY23 FY23 FY24 FY24 API business improved
Slide 23: CDMO - Synthesis
CDMO - Synthesis Demand acceleration intact; Focus on scientific led approach to BD YoY 9% 47% 32% 34% 37% 35% 62% 19% 95% 34% 63% 105% 272% 248% 78% [₹ Cr] 720 642 577 Y-o-Y ▼ 69% Q-o-Q ▼ 10% 360 228 250 224 176 195 207 148 127 155 PO supplies 86 100 116 73 78 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q
Slide 24: Laurus Bio - Bio business
Laurus Bio - Bio business Demand upbeat Revenue Growth Comments [₹ Cr] Reported strong growth for Q2 and H1 at +44% and +56% YoY, led by traction in CDMO services along with customer addition 50 46 Acquired 13.2%* additional stake of Laurus Bio - Reflects confidence 39 on growing application of
Slide 25: Transformation over Last 5 Years - Diversified underlying business growth
Transformation over Last 5 Years - Diversified underlying business growth Diversification of Laurus business + 24% CAGR 125 FY 18 FY 23 ₹ 2,056 Cr ₹ 6,041 Cr [₹ Crores] 1972 2% 6,041 402 36% 37% 744 742 ARV 7% 73% 18% 2,056 ARV API (Onco+Others) FDF (ex-ARV) CDMO Bio FY 18 ARV API FDF (ex-ARV) CDMO
Slide 26: Progress on Capacity expansion
Progress on Capacity expansion Reactor Volumes Drug Product Capacity Fermentation Capacity Over 4x in last 7 years Expanded 5x in last 7 years Expanded 18x since acquisition 7,480 190 Reactor Capacity 10 Fermentation Oral Solids (KL) (KL) (billion) 4,638 5 1,870 2 10 220 FY06-11 FY11-16 FY16-21 FY23
Slide 27: Manufacturing footprint - Enabling Customers with Integrated capabilities
Manufacturing footprint - Enabling Customers with Integrated capabilities Visakhapatnam Parawada Hyderabad Bangalore U1 U3 U5 LSPL U1 Sriam Lab R1 R2 API CDMO API CDMO^ API CDMO API Intermediates Bio-Ingredients Bio-Ingredients 336 R1 296 R & R&D 53 R 42 R + 3 AGR2 31 R 5 Fermenters & R&D 4 Fermente
Slide 28: Strong Commitment to Environmental Protection and ESG
Strong Commitment to Environmental Protection and ESG Sustainability Technologies Accreditation & Progress Ongoing investments into Green Technology Platforms Recognition from external ESG rating Agencies including MSCI, S&P Bio-catalysis Dow Jones Sustainability Index (DJSI), CRISIL, and EcoVad
Slide 29: Outlook
4. Outlook 28 Laurus Q2 & H1 FY 2024 Investor Presentation | October 20, 2023
Slide 30: FY 2024 : Sales outlook retained
FY 2024 : Sales outlook retained Sales drivers CDMO: Revenue expansion of base pipeline projects and 2H Animal health contract supplies kick-off Generics1: Growth in existing and new CMO contracts (Diabetic & CV portfolio) across key markets, Key product approvals and better visibility in ARV busine
Slide 31: Earnings call details
Earnings call details Laurus Labs Results Conference Call to be held on Friday, 20th October 2023 at 4:00 PM IST Dial – In – Details Universal Dial-In +91 22 6280 1342 Click below to Express Join with India Local access Number +91 22 7115 8243 Diamond Pass Singapore 800 101 2045 Click here to regist
Slide 32: About Laurus Labs
About Laurus Labs Founded in 2005, Laurus Labs is a research-driven pharmaceutical and biotechnology company with an aim to improve the quality of life for millions around the world. We have a global leadership position in select Active Pharmaceutical Ingredients (APIs) including anti-retroviral, on