Jubilant Pharmova Limited · NSE:JUBLPHARMA
Jubilant Pharmova — Q2 FY2024 Earnings Presentation
43 slides from Jubilant Pharmova's earnings presentation, Oct 27, 2023
Slide 1: Cover letter to stock exchanges
October 27, 2023 BSE Limited, National Stock Exchange of India Limited, Floor 25, P. J. Towers Exchange Plaza, 5th Floor, Dalal Street, Bandra-Kurla Complex, Mumbai - 400 001 Bandra (E), Mumbai – 400051 Scrip Code: 530019 Symbol: JUBLPHARMA Dear Sirs, Sub: Press Release alongwith Earnings Presentati
Slide 2: Jubilant Pharmova – Q2'FY24 Results Press Release
Jubilant Pharmova Limited 1A, Sector 16A, Noida – 201301, India Tel.: +91 120 4361000 www.jubilantpharmova.com PRESS RELEASE Noida, Friday, Oct 27, 2023 JUBILANT PHARMOVA – Q2’FY24 RESULTS The Board of Jubilant Pharmova Limited met today to approve financial result for the quarter ended Sep 30, 2023
Slide 3: Financial Results Overview H1'FY24 - Consolidated
Financial Results Overview H2’FY24 - Consolidated (Rs Crs) Particulars H1'FY23 H1'FY24 Total Revenue 3,051 3,267 Adjusted Revenue1 2,963 3,291 Reported EBITDA 436 430 14.3% 13.2% Adjusted EBITDA1 361 467 12.2% 14.2% Exceptional Items on Bonds Refinancing (57) 0 Profit Before Tax 105 123 Adjusted Pro
Slide 4: Radiopharmaceuticals
Financial Highlights – Radiopharmaceuticals (Rs Crs) Particulars Q2'FY23 Q1'FY24 Q2'FY24 H1'FY23 H1'FY24 Revenue 248 204 251 444 455 % of Company Revenue 16% 13% 15% 15% 14% EBITDA 163 93 132 256 226 EBITDA Margin (%) 66% 46% 53% 58% 50% Key Priorities – Radiopharmaceuticals Maintain leadership po
Slide 5: Radiopharmacies
Financial Highlights – Radiopharmacies (Rs Crs) Particulars Q2'FY23 Q1'FY24 Q2'FY24 H1'FY23 H1'FY24 Revenue 410 487 490 806 977 % of Company Revenue 26% 31% 29% 26% 62% EBITDA -17 2 6 -38 8 EBITDA Margin (%) -4% 0% 1% -5% 1% Key Priorities – Radiopharmacies Accelerate sales of high growth new prod
Slide 6: Allergy Immunotherapy
Financial Highlights – Allergy Immunotherapy (Rs Crs) Particulars Q2'FY23 Q1'FY24 Q2'FY24 H1'FY23 H1'FY24 Revenue 156 151 179 286 330 % of Company Revenue 10% 10% 11% 9% 21% EBITDA 53 50 86 97 136 EBITDA Margin (%) 34% 33% 48% 34% 41% Key Priorities – Allergy Immunotherapy #2 player in US Sub-Cuta
Slide 7: CDMO Sterile Injectables
Financial Highlights – CDMO Sterile Injectables (Rs Crs) Particulars Q2'FY23 Q1'FY24 Q2'FY24 H1'FY23 H1'FY24 Revenue 299 254 301 562 555 % of Company Revenue 19% 16% 18% 18% 17% EBITDA 71 41 56 203 97 EBITDA Margin (%) 24% 16% 19% 36% 17% Particulars Q2'FY23 Q1'FY24 Q2'FY24 H1'FY23 H1'FY24 Adjusted
Slide 8: Generics
Financial Highlights – Generics (Rs Crs) Particulars Q2'FY23 Q1'FY24 Q2'FY24 H1'FY23 H1'FY24 Revenue 161 202 172 340 375 % of Company Revenue 10% 13% 10% 11% 24% EBITDA -82 -21 -50 -155 -71 EBITDA Margin (%) (51%) (10%) (29%) (46%) (19%) Particulars Q2'FY23 Q1'FY24 Q2'FY24 H1'FY23 H1'FY24 Adjusted R
Slide 9: Drug Discovery Services
Financial Highlights – Drug Discovery Services (Rs Crs) Particulars Q2'FY23 Q1'FY24 Q2'FY24 H1'FY23 H1'FY24 Revenue 150 103 115 268 218 % of Company Revenue 9% 7% 7% 9% 14% EBITDA 54 22 26 93 47 EBITDA Margin (%) 36% 21% 22% 35% 22% Key Priorities – Drug Discovery Services Leverage state of the ar
Slide 10: CDMO - API
Financial Highlights – CDMO - API (Rs Crs) Particulars Q2'FY23 Q1'FY24 Q2'FY24 H1'FY23 H1'FY24 Revenue 170 177 165 332 341 % of Company Revenue 11% 11% 10% 11% 22% EBITDA 14 13 15 21 28 EBITDA Margin (%) 8% 7% 9% 6% 8% Key Priorities – CDMO - API In March 2023, the API plant at Nanjangud saw rever
Slide 11: Key Priorities – Proprietary Novel Drugs
Key Priorities – Proprietary Novel Drugs Clinical stage precision therapeutics business advancing potent and selective small molecules to address unmet medical needs in oncology and autoimmune diseases Wholly owned assets; opportunities to explore institutional funding, as well as maximize partn
Slide 12: About Jubilant Pharmova Limited
About Jubilant Pharmova Limited Jubilant Pharmova Limited (formerly Jubilant Life Sciences Limited) is a company with global presence that is involved in Radiopharma, Allergy Immunotherapy, CDMO Sterile Injectables, Contract Research Development and Manufacturing Organisation (CRDMO), Generics and P
Slide 13: Financial Results Quarter Ended September 30, 2023
Financial Results Quarter Ended September 30, 2023 October 2023
Slide 14: Jubilant Pharmova is uniquely positioned to create sustained Shareholder Value
Jubilant Pharmova is uniquely positioned to create sustained Shareholder Value An integrated global Over 5,500 people globally, 6 manufacturing facilities Strong position in Radio- pharmaceuticals and contract including over 2,100 in catering to regulated markets pharmaceuticals, Allergy research co
Slide 15: Business Structure
Business Structure Jubilant Pharmova Limited CDMO Sterile Allergy Proprietary Radiopharma CRDMO Generics Injectables Immunotherapy Novel Drugs Radiopharmaceuticals Radiopharmacies Drug Discovery CDMO - API Services 2
Slide 16: H1'FY24 – Segment Wise Revenue Split
H1’FY24 – Segment Wise Revenue Split Allergy Immunotherapy 10% Generics 12% Radiopharma 44% CDMO Sterile Injectables 17% CRDMO 17% 3
Slide 17: Business Snapshot
Business Snapshot • #3 radiopharmaceutical • Leading contract manufacturer • Manufacturing facilities at Roorkee, • Manufacturing facility at manufacturer in the US for Sterile Injectibles India and Salisbury, US Nanjangud, India • Manufacturing facility • Differentiated technologies, viz. • Focus o
Slide 18: High-Quality, World-Class Manufacturing Footprint and Operational Facilities
High-Quality, World-Class Manufacturing Footprint and Operational Facilities Biosys Gr. Noida Facility Spokane, Washington, USA Contract manufacturing of Sterile injectable and Allergy therapy Roorkee, Uttarakhand Generics manufacturing Noida Montreal, Canada Corporate Office Contract Manufact
Slide 19: Financial Highlights Q2 & H1'FY24
Financial Highlights Q2 & H1’FY24 Jubilant Pharmova Limited
Slide 20: Financial Results Overview Q2'FY24 - Consolidated
Financial Results Overview Q2’FY24 Figures in Rs Crs - Consolidated Particulars Q2'FY23 Q1'FY24 Q2'FY24 Total Revenue 1,600 1,587 1,680 Adjusted Revenue1 1,582 1,587 1,704 Reported EBITDA 232 178 252 14.5% 11.2% 15.0% Adjusted EBITDA1 224 178 289 14.2% 11.2% 16.9% Exceptional Items on Bonds Refinanc
Slide 21: Financial Results Overview H1'FY24 - Consolidated
Financial Results Overview H1’FY24 Figures in Rs Crs Particulars H1'FY23 H1'FY24 - Consolidated Total Revenue 3,051 3,267 Adjusted Revenue1 2,963 3,291 Reported EBITDA 436 430 14.3% 13.2% Adjusted EBITDA1 361 467 12.2% 14.2% Exceptional Items on Bonds Refinancing (57) 0 Profit Before Tax 105 123 Adj
Slide 22: Key Ratios H1'FY24 - Consolidated
Key Ratios H1’FY24 Figures in Rs Crs - Consolidated Particulars Mar 31, 2023 Sep 30, 2023 Net Debt (Constant Currency) 2,426 2,475 Net Debt / EBITDA 2.98 3.06 Net Debt / Equity 0.45 0.46 1. EBITDA is on TTM basis 2. Exchange rate: 1USD = INR 83.05 as on Sep 30, 2023 and 1USD = INR 82.17 as on Mar 31
Slide 23: Financial Highlights Radiopharmaceuticals
Financial Highlights Radiopharmaceuticals Figures in Rs Crs Particulars Q2'FY23 Q1'FY24 Q2'FY24 H1'FY23 H1'FY24 Revenue 248 204 251 444 455 % of Company Revenue 16% 13% 15% 15% 14% EBITDA 163 93 132 256 226 EBITDA Margin (%) 66% 46% 53% 58% 50% 10
Slide 24: Radiopharmaceuticals Key Priorities
Key Priorities Radiopharmaceuticals • Maintain leadership position in stable high margin core portfolio in North America, e.g., lung functional imaging and thyroid targeted radiotherapeutics • Innovation leader in PET cardiac imaging through proprietary RUBY-FILL (best in class cardiac imaging produ
Slide 25: Financial Highlights Radiopharmacies
Financial Highlights Radiopharmacies Figures in Rs Crs Particulars Q2'FY23 Q1'FY24 Q2'FY24 H1'FY23 H1'FY24 Revenue 410 487 490 806 977 % of Company Revenue 26% 31% 29% 26% 30% EBITDA (17) 2 6 (38) 8 EBITDA Margin (%) (4%) 0% 1% (5%) 1% 12
Slide 26: Radiopharmacies Key Priorities
Key Priorities Radiopharmacies • Accelerate sales of high growth new products, e.g., Ga-PSMA, and to further gain market share in existing SPECT products • Maintain current momentum of strong growth in 3rd party sales • Leverage existing cyclotrons to capture share of PET product growth • Additional
Slide 27: Financial Highlights Allergy Immunotherapy
Financial Highlights Allergy Immunotherapy Figures in Rs Crs Particulars Q2'FY23 Q1'FY24 Q2'FY24 H1'FY23 H1'FY24 Revenue 156 151 179 286 330 % of Company Revenue 10% 10% 11% 9% 10% EBITDA 53 50 86 97 136 EBITDA Margin (%) 34% 33% 48% 34% 41% 14
Slide 28: Allergy Immunotherapy Key Priorities
Key Priorities Allergy Immunotherapy • #2 player in US Sub-Cutaneous Immunotherapy market (Venom and Non-Venom) of >$200M. High barriers to entry as products are branded biologicals with regulatory approvals grandfathered in • Further strengthen the prescriber base for Venom immunotherapy in the US
Slide 29: Financial Highlights CDMO Sterile Injectables
Financial Highlights CDMO Sterile Injectables Figures in Rs Crs Particulars Q2'FY23 Q1'FY24 Q2'FY24 H1'FY23 H1'FY24 Revenue 299 254 301 562 555 % of Company Revenue 19% 16% 18% 18% 17% EBITDA 71 41 56 203 97 EBITDA Margin (%) 24% 16% 19% 36% 17% Particulars Q2'FY23 Q1'FY24 Q2'FY24 H1'FY23 H1'FY24 Ad
Slide 30: CDMO Sterile Injectables Key Priorities
Key Priorities CDMO Sterile Injectables • Global Fill and Finish Sterile Injectable markets of USD 13Bn, with double digit growth rate projected over next 5 years • Focus is on-time and at-cost execution of USD 370Mn capacity expansion in Spokane and Montreal, to double the CMO capacity over next 5+
Slide 31: Financial Highlights Generics
Financial Highlights Generics Figures in Rs Crs Particulars Q2'FY23 Q1'FY24 Q2'FY24 H1'FY23 H1'FY24 Revenue 161 202 172 340 375 % of Company Revenue 10% 13% 10% 11% 12% EBITDA (82) (21) (50) (155) (71) EBITDA Margin (%) (51%) (10%) (29%) (46%) (19%) Particulars Q2'FY23 Q1'FY24 Q2'FY24 H1'FY23 H1'FY2
Slide 32: Generics Key Priorities
Key Priorities Generics • Continue quality improvement initiatives and engagement with the US FDA for resolution of Import Alert at the Roorkee facility. • Salisbury site is compliant with US FDA. Roorkee site is compliant with other key non-US markets, e.g., MHRA, Japan, South Africa, Canada. • Foc
Slide 33: Financial Highlights Drug Discovery Services
Financial Highlights Drug Discovery Services Figures in Rs Crs Particulars Q2'FY23 Q1'FY24 Q2'FY24 H1'FY23 H1'FY24 Revenue 150 103 115 268 218 % of Company Revenue 9% 7% 7% 9% 7% EBITDA 54 22 26 93 47 EBITDA Margin (%) 36% 21% 22% 35% 22% 20
Slide 34: Drug Discovery Services Key Priorities
Key Priorities Drug Discovery Services • Leverage state of the art infrastructure and differentiated technical know-how, e.g., Integrated Drug Discovery, DMPK to drive new customer acquisitions in drug discovery • Continue to invest in capabilities for improving productivity, speeding up time to mar
Slide 35: Financial Highlights CDMO - API
Financial Highlights CDMO - API Figures in Rs Crs Particulars Q2'FY23 Q1'FY24 Q2'FY24 H1'FY23 H1'FY24 Revenue 170 177 165 332 341 % of Company Revenue 11% 11% 10% 11% 10% EBITDA 14 13 15 21 28 EBITDA Margin (%) 8% 7% 9% 6% 8% 22
Slide 36: CDMO - API Key Priorities
Key Priorities CDMO - API • In March 2023, the API plant at Nanjangud saw reversal of OAI status to compliant VAI status from USFDA, driven by Quality Improvement Initiatives at site. • Going forward, focus is to drive higher capacity utilization including through launch of new products and by acqui
Slide 37: Financial Highlights Proprietary Novel Drugs
Financial Highlights Proprietary Novel Drugs Figures in Rs Crs Particulars Q2'FY23 Q1'FY24 Q2'FY24 H1'FY23 H1'FY24 Revenue 0 0 0 4 0 EBITDA (10) (10) (8) (17) (18) 24
Slide 38: Proprietary Novel Drugs Key Highlights & Priorities
Key Highlights & Priorities Proprietary Novel Drugs • Clinical stage precision therapeutics business advancing potent and selective small molecules to address unmet medical needs in oncology and autoimmune diseases • Wholly owned assets; opportunities to explore institutional funding, as well as max
Slide 39: Business Enablers
Business Enablers Jubilant Pharmova Limited 26
Slide 40: Sustainability continues to be an important focus area for us
Sustainability continues to be an important focus area for us Participated in S&P DJSI Assessment: - Achieved 94 percentile in the Global Pharmaceutical Industry - Among the top 6% companies - Received Gold Rating globally - Achieved 92 percentile (Score 67/100) Climbed from 23rd to 6th position on
Slide 41: Annexure
Annexure Jubilant Pharmova Limited
Slide 42: Segment Financial Results Overview | Consolidated
Segment Financial Results Overview | Consolidated Figures in Rs Crs Segment Revenue Q2'FY23 Q1'FY24 Q2'FY24 H1'FY23 H1'FY24 FY23 1.Radiopharma 658 691 741 1,250 1,432 2,552 Radiopharmaceuticals 248 204 251 444 455 872 Radiopharmacies 410 487 490 806 977 1,681 2. Allergy Immunotherapy 156 151 179 286
Slide 43: For more information
For more information For Investors: Vineet V Mayer Siddharth Rangnekar Jubilant Pharmova Limited CDR India Ph: +91 120 436 1103 Ph: +91 +91 9769919966 E-mail: Vineet.mayer@jubl.com E-mail: siddharth@cdr-india.com For Media: Sudhakar Safaya Ryan Marshall Ph: +91 120 436 1062 Madison Public Relations