Shilpa Medicare Limited · NSE:SHILPAMED
Shilpa Medicare — Q3 FY2025 Earnings Presentation
30 slides from Shilpa Medicare's earnings presentation, Feb 10, 2025
Slide 1: Shilpa Medicare Limited exchange filing cover letter
Shilpa Medicare Limited ~I Innovating for . . . affordable healthcare 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 Da
Slide 2: 3QFY25 Earnings Presentation
~ Innovating for I . . affordable healthcare Shilpa Shilpa Medicare Medicare Ltd Ltd 3QFY25 Earnings Presentation Date: 10th Feb 2025
Slide 3: Safe Harbour
Safe Harbour • I Innovating for affordable healthcare ~ ~- Certain statements in this document may be forward - looking statements. Such forward looking statements are subject to certain risks and uncertainties like regulatory changes, local political or economic developments, and many other factors
Slide 4: Shilpa Medicare at a glance
Shilpa Medicare at Established in 1987, we have 35+ years track record L . . I Innovating for ~ affordable healthcare a glance Existing Business Segments: API , Formulation, CDMO, Biologics Emerging Businesses: NDDS, ADC and Recombinant Human Albumin 10+ Regulatory approved manufacturing + R&D facil
Slide 5: Key operating verticals
Key operating verticals API Formulations Biologics 7% 9MFY25 Revenue 35% contribution 58% ▪ Shilpa Pharma Lifesciences ▪ Shilpa Medicare ▪ Shilpa Biologicals Legal ▪ Shilpa Therapeutics ▪ Shilpa Biocare Entities ▪ FTF Pharma Areas of ▪ Oncology ▪ Tablets/Capsules ▪ NBE Operation ▪ Non-Oncology ▪ Inj
Slide 6: CDMO – Strong capabilities in various technologies
CDMO – Strong capabilities in various technologies L . . I Innovating for ~ affordable healthcare • Very strong capability Shilpa Medicare • Strong capability Peer 1 • Developing capability Indian CDMOs Peer 2 Negligible capability Peer 3 Global Peer 1 Global CDMOs Global Peer 2 Global Peer 3 Specia
Slide 7: 3Q & 9MFY25 Performance
L . . I Innovating for ~ affordable healthcare 3Q & 9MFY25 Performance 6
Slide 8: Management Commentary
Management .L... I Innovating for ~ affordable healthcare Commentary Our 3QFY25 performance reflects robust growth in profitability driven by improved business mix. The quarter witnessed healthy YoY growth in our key verticals of FDF & Biologics, which was partially offset by muted API performance.
Slide 9: 3Q FY25 – Financial Performance
3Q FY25 – Financial Performance L . . I Innovating for ~ affordable healthcare 3Q FY25 (Consolidated) Revenue Break-up (INR in cr.) Particulars (INR cr) 3QFY25 3QFY24 YoY 2QFY25 QoQ Biologicals, Others, 1.0 Total Revenue 320 289 11% 349 -8% 18.3 Gross Profit 229 192 19% 227 1% 6% Formulation, GP Mar
Slide 10: 9M FY25 – Financial Performance
9M FY25 – Financial Performance L . . I Innovating for ~ affordable healthcare 9M FY25 (Consolidated) Revenue Break-up (INR in cr.) Particulars (INR cr) 9MFY25 9MFY24 YoY (%) Biologicals, Others, 18.3 Total Revenue 971 866 12% 64.4 Gross Profit 665 555 20% 2% 7% GP Margin 69% 64% 500bps Formulation,
Slide 11: Consolidated Performance
Consolidated Performance L . . I Innovating for ~ affordable healthcare (INR in Cr.) Revenues EBITDA and Margins 26% 26% 26% 24% 21% 256 180 91 82 289 349 320 866 971 68 3QFY24 2QFY25 3QFY25 9MFY24 9MFY25 3QFY24 2QFY25 3QFY25 9MFY24 9MFY25 PBT and Margins PAT and Margins 13% 11% 11% 10% 64 107 5% 5%
Slide 12: Financial Summary
Financial Summary L . . I Innovating for ~ affordable healthcare ROCE Gross Block (INR crs) 9% 8% 6% 1,538 1,587 1,670 1,765 2% 1,256 1% FY21 FY22 FY23 FY24 9MFY25* FY21 FY22 FY23 FY24 9MFY25 Net Debt to EBITDA (x) Capex (INR crs) 6.7 5.8 3.4 3 1.9 349 331 225 172 173 FY21 FY22 FY23 FY24 9MFY25* FY2
Slide 13: API Business
L . . I Innovating for ~ affordable healthcare API Business 12
Slide 14: API – Muted growth; order book remains healthy
API – Muted growth; order book remains healthy L . . I Innovating for ~ affordable healthcare (INR in Cr.) ▪ 3QFY25 Revenue 203 194 182 589 548 remained muted on account of lumpiness in 5 13 5 13 client buying pattern. 16 6 36 25 62 25 ▪ Completed capacity expansion for key 256 94 products viz. UDCA
Slide 15: API – Ongoing Developments
API – Ongoing Developments API Molecules CDMO Polymer and Peptide ▪ Increased capacity for key products viz. Nor ▪ Successfully Completed Phase II supply for a multi-step complex ▪ Large Polymer project worth ~USD 4mn received UDCA, Palbociclib and Nilotinib. Commercialized chemistry project, offeri
Slide 16: Formulations Business
L . . I Innovating for ~ affordable healthcare Formulations Business 15
Slide 17: New product launches drive FDF revenue growth
New product launches drive FDF revenue growth L . . I Innovating for ~ affordable healthcare (INR in Cr.) ▪ For the quarter, the division 72 120 118 250 341 reported robust revenue growth of 64% on YoY basis 62 46 166 ▪ Nilotinib Launch in EU region drove strong EU growth 116 ▪ Received approval of
Slide 18: FDF – Update on key assets
FDF – Update on key assets L . . I Innovating for ~ affordable healthcare NorUDCA SMLTDP08 SMLTOP09 SMLODF010 SMLINJ011 ODF & TDS SMLNUD07 ▪ Phase III Studies for ▪ Transdermal Patch ▪ Topical lotion for ▪ European market ▪ Injection for ▪ Two new transdermal NAFLD completed for treatment of treatme
Slide 19: Filings – Formulations
Filings – Formulations L . . I Innovating for ~ affordable healthcare Formulations – Regulatory Filings ■ Pending ■ Approved 30 77 524 17 270 64 13 254 13 US ANDA and NDA EU ROW Robust regulatory filings to strengthen the base for growth in the formulation segment As on 31st Dec 2024 18
Slide 20: Comprehensive CDMO Development
Comprehensive CDMO Development L . . I Innovating for ~ affordable healthcare Long term manufacturing and supply Unicycive Therapeutics Inc’s agreement with SML. SML is receiving significant milestone Oxylanthanum Carbonate (OLC) is a income spanning over various stages Potential best-in-class produ
Slide 21: Biologics
L . . I Innovating for ~ affordable healthcare Biologics 20
Slide 22: Biologics – Growth envisioned on 4 pillars
Biologics – Growth envisioned on 4 pillars .£.... I Innovating for ~ affordable healthcare Integrated CDMO Biologics Novel Biologics Additional Products @Dharwad ▪ Adalimumab: India market growth ▪ Albumin India: Permission for ▪ 3 CDMO projects in ▪ Nivolumab ~($10 bn)1 , based on approval of addit
Slide 23: Outlook FY26 and beyond
Outlook FY26 and beyond L . . I Innovating for ~ affordable healthcare FDF CDMO API Biologics 6 key products (NDA- Commercial launch of OLC in US Multiple complex API launches, Strong Biosimilar pipeline with Pemetrexed, NDA – Bortezomib, to kick start significant revenue growth in Specialty portfol
Slide 24: R&D Capabilities
R&D Capabilities L . . I Innovating for ~ affordable healthcare ▪ 5 R&D sites across major cities in India ▪ Carefully crafted IP strategy for patent R&D Spend (INR crs) challenges and 505(b)(2) filings ▪ API - Developed capabilities in peptide, 3 specialty and bio polymers manufacturing 1 13 29 2 2
Slide 25: Manufacturing Capabilities – API & Biocare
Manufacturing Capabilities – API & Biocare L . . I Innovating for ~ affordable healthcare API Unit 1 - Raichur API Unit 2 - Raichur Biocare - Kadechur • Isolation, purification, separation techniques. • Fully automated integrated facility with DCS Capabilities Onco, Non-Onco APIs and peptide, having
Slide 26: Manufacturing Capabilities – Formulations & Biologics
Manufacturing Capabilities – Formulations & Biologics • I Innovating for affordable healthcare Formulations - Jadcherla Formulations - Bangalore Biologics - Dharwad End-to-end services, from development to commercial manufacturing of microbial & Capabilities OSD tablets and capsules; Injectables – d
Slide 27: Financials
L . . I Innovating for ~ affordable healthcare Financials 26
Slide 28: Profit & Loss Consolidated
Profit & Loss Consolidated L . . I Innovating for ~ affordable healthcare Particulars (INR cr) 3Q FY25 3Q FY24 YoY 2Q FY25 QoQ 9M FY25 9M FY24 YoY Revenues 320 289 11% 349 -8% 971 866 12% Gross Profit 229 192 19% 227 1% 665 555 20% Gross Margin % 72% 67% 65% 69% 64% Employee Cost 74 69 6% 76 -4% 222
Slide 29: Earnings call Details
Earnings call Details L . . I Innovating for ~ affordable healthcare Shilpa Medicare 3Q and 9MFY25 Results Conference Call to be held February 11, 2025, Tuesday at 11:00 AM Details of Earnings Conference Call +91 22 6280 1107 Universal Access +91 22 7115 8008 The number listed above is universally a
Slide 30: Thank You
~ \ Innovating for ~ affordable healthcare Shilpa Medicare 0 Monish Shah rn +91 2249748754 monish.shah@vbshilpa.com Ernst & Young IR THANK YOU! Runjhun Jain/Sneha Salian 0 rn +91 98207 20993 / +91 98194 30437 runjhun.jain1@in.ey.com / sneha2.salian@in.ey.com ~ 29