Viyash Scientific Limited · NSE:VIYASH
Viyash Scientific — SeQuent Scientific — Q2 FY25 Earnings Presentation
25 slides from Viyash Scientific's earnings presentation, Nov 13, 2024
Slide 1: Proven Ability In Life Sciences
Proven Ability In Life Sciences November 13, 2024 BSE Limited National Stock Exchange of India Limited Corporate Relationship Department Listing Department Phiroze Jeejeebhoy Towers, Exchange Plaza, Bandra-Kurla Complex, Dalal Street, Fort, Bandra (East), Mumbai – 400 001. Mumbai – 400 051. Scrip co
Slide 2: Investor Presentation Q2 FY25
INVESTOR PRESENTATION Q2 FY25 SEQUENT SCIENTIFIC LIMITED 14th Nov 2024
Slide 3: Sequent Q2 FY25 – Earnings Release
Sequent Q2 FY25 – Earnings Release The quarter under review (Q2 FY25) is significant for two reasons. Firstly, we continue to strengthen our performance in all parts of the business. Secondly, we announced the merger of Sequent Scientific Limited and Viyash Life Sciences to build a unique, different
Slide 4: SeQuent: Q2 FY25 Performance Update
SeQuent : Q2 FY25 Performance Update
Slide 5: SeQuent Q2FY25: Continued growth in Revenue and earnings
SeQuent Q2FY25: Continued growth in Revenue and earnings Revenues EBITDA (Pre ESOP) EBITDA margin PAT ₹3,686 ₹447 12.1% ₹63 Million Million Million 450 Losses 6.6% 69.9% YoY YoY bps in Prev. YoY Year 4
Slide 6: SeQuent: H1FY25 - Continued growth in Revenue and earnings
SeQuent: H1FY25 - Continued growth in Revenue and earnings Revenues EBITDA (Pre ESOP) EBITDA margin PAT ₹7,589 ₹930 12.3% ₹154 Million Million Million 710 Losses 11.7% 161.1% YoY YoY bps in Prev. YoY Year 5
Slide 7: SeQuent: Q2 FY25: Revenue Performance – by geography
SeQuent : Q2 FY25: Revenue Performance – by geography All values in ₹ Mn Revenue Distribution YoY Gr% QnQ Gr% YoY Gr% Q2 FY25 Q2 FY24 YoY Gr% (In cc) Q1 FY25 QnQ Gr% (In cc) H1 FY25 H1 FY24 YoY Gr% (In cc) Formulations 2,836 2,532 12.0% 17.9% 3,002 -5.5% -3.8% 5,837 5,014 16.4% 23.9% Europe 1335 119
Slide 8: SeQuent: Q2 FY25 Business Performance
SeQuent : Q2 FY25 Business Performance All values in ₹ Mn Europe: Successful Launch of Vominil, new brand partnerships in Europe 1,000+ FDFs Emerging Markets: Renewal of Euro GMP certificate in Turkey Formulations LATAM: New Latam organization to support expansion into adjacent markets 90+ Countries
Slide 9: SeQuent: Q2 FY25 Consolidated Financials
SeQuent : Q2 FY25 Consolidated Financials All values in ₹ Mn Q2 Q2 Grw Q1 Grw H1 H1 Grw Particulars Key Notes Q2 FY25 Y-o-Y : FY25 FY24 YoY % FY25 QnQ % FY25 FY24 YoY % Revenue from Operations 3,686 3,460 7% 3,902 -6% 7,589 6,792 12% + 1.9% on YoY Gross Material Consumption (1,953) (1,898) 3% (2,143
Slide 10: SeQuent - Key Balance Sheet Items
SeQuent - Key Balance Sheet Items All values in ₹ Mn Particulars Sep-24 Mar-24* Shareholders' Funds 6,796 6,566 • Net Debt is maintained Minority Interest 623 564 Net Debt 3,774 3,788 • Working capital increase to support increased sales despatches planned for Turkey and Spain. Investments 4 9 Tangi
Slide 11: Viyash: Business Update
Viyash Viyash: Business Update
Slide 12: Viyash: Q2 FY25 – Strong quarterly performance
Viyash: Q2 FY25 – Strong quarterly performance with high growth, profitability improvement and reduction in net debt Net Debt to LTM Revenues Adj. EBITDA1 EBITDA margin Adj. EBITDA1 ₹3,632 ₹628 17.3% 0.7x Million Million 300 10.1% 33.4% vs.1.1x YoY YoY bps In FY24 YoY 11 Notes: 1. EBITDA for Viyash
Slide 13: Viyash: H1 FY25 – Strong H1FY25 performance
Viyash: H1 FY25 – Strong H1FY25 performance with revenue growth, improvement in profitability and reduction in net debt Net Debt to LTM Revenues Adj. EBITDA1 EBITDA margin Adj. EBITDA1 ₹7,032 ₹1,208 17.2% 0.7x Million Million 330 5.4% 30.6% vs.1.1x YoY YoY bps In FY24 YoY 12 Notes: 1. EBITDA for Viy
Slide 14: Key updates from H1FY25
Key updates from H1FY25 Facility Inspections Regulatory Approvals Innovator Business Launches 2 EIRs received 5 APIs: US (1), 1 API & 1 2 EU launches from US FDA EDQM (3), China (1) Intermediate ANVISA (Brazil) 1 FDFs: US (1) (validation quantities 99 Customer audits supplied) Products Filed Validat
Slide 15: Strong Business Profile
Strong Business Profile Diversified: Top 10 products account for 62% of FY24 API Revenue; diversified markets and customer base Cash Flow: INR 100cr+ in Free Cash High Market Share: Market leader in Generation in H1FY25 regulated markets for 6 of top 10 APIs High Gross Margin: Sustainable GM with Yo
Slide 16: Viyash: Financial performance
Viyash: Financial performance All values in ₹ Mn Q2 Q2 Q1 Grw QnQ H1 H1 Particulars Grw YoY % Grw YoY % FY25 FY24 FY25 % FY25 FY242 Revenue from Operations 3,632 3,300 10.1% 3,400 6.8% 7,032 6,671 5.4% Material Consumption (1,624) (1,599) 1.6% (1,580) 2.8% (3,204) (3,279) -2.3% Gross Profit 2,008 1,
Slide 17: Merger Update
Merger Update bo
Slide 18: Q2FY25: Combined business performance
Q2FY25: Combined business performance Q2 FY25 YoY Growth % SeQuent Combined (For the quarter) (Combined) Revenue 3,632 3,686 7,318 8.3% (INR Mn) EBITDA1 628 447 1,075 46.5% (INR Mn) EBITDA Margin % 17.3% 12.1% 14.7% +380bps Net Debt to LTM 0.7x 2.3x 1.4x EBITDA 17 Notes: 1. EBITDA for Viyash is adju
Slide 19: H1FY25: Combined business performance
H1FY25: Combined business performance H1 FY25 YoY Growth % SeQuent Combined (For the quarter) (Combined) Revenue 7,032 7,589 14,621 8.6% (INR Mn) EBITDA1 1,208 930 2,138 66.9% (INR Mn) EBITDA Margin % 17.2% 12.3% 14.6% +510bps Net Debt to LTM 0.7x 2.3x 1.4x EBITDA 18 Notes: 1. EBITDA for Viyash is a
Slide 20: Strong R&D, Superior Scale, Integrated Supply Chain, and Enhanced Front-end Presence
Strong R&D, Superior Scale, Integrated Supply Chain, and Enhanced Front-end Presence R&D Expertise Manufacturing Scale Robust Supply Chain Front-end Presence R&D Team size Manufacturing capacity Manufacturing facilities USFDA approved units Minimizing External Marquee Customers Dependencies ($1Bn+ a
Slide 21: Multiple potential areas of synergies
Multiple potential areas of synergies Sales Manufacturing • Leverage large pharma • End-to-end manufacturing & relationships of both entities development capabilities • Expand direct sales footprint in • Enhanced scale for shared multiple geographies procurement & operating leverage Potential areas
Slide 22: Merger – process update
Merger – process update Merger process status update • We have filed with NSE and BSE and are currently addressing their queries • Post NSE and BSE feedback, the Company will file with SEBI • Post SEBI feedback, the Company will approach NCLT • Pursuant to this, NCLT to call for shareholders' vote •
Slide 23: Appendix
Appendix
Slide 24: Combined P&L – Snapshot
Combined P&L – Snapshot Viyash SeQuent Combined Particulars FY24 H1FY25 FY24 H1FY25 FY24 H1FY25 Revenue from Operations 13,110 7,032 13,697 7,589 26,807 14,621 Material Consumption (6,142) (3,204) (7,597) (4,096) (13,739) (7,300) Gross Margin 6,968 3,828 6,100 3,493 13,068 7,321 % 53.2% 54.4% 44.5%
Slide 25: Contact details
For details, feel free to contact: Phillip Trott Abhishek Singhal Company Secretary Investor Relations Consultant +91 22 4111 4777 abhishek@arunya.co.in investorrelations@sequent.in Registered Office: 301/A, ‘Dosti Pinnacle', Plot No. E7, Road No. 22, Wagle Industrial Area, Thane (W), Maharashtra, I