Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are enclosing the Investor Presentation.You are requested to kindly take the same on recor...
Date: November 11, 2022
To, To, BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, C-1, Block G Dalal Street, Mumbai – 400 001 Bandra (E), Mumbai – 400 051 Scrip Code: 543434 Scrip Symbol: SUPRIYA
Bandra Kurla Complex
Dear Sir/Madam,
Subject: Investor Presentation
Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are enclosing the Investor Presentation.
You are requested to kindly take the same on record.
Thanking you,
For Supriya Lifescience Limited
Shweta Singh Company Secretary & Compliance Officer Membership No.: A44973
Corporate office
: 207/208, Udyog Bhavan, Sonawala Road, Goregaon (East), Mumbai – 400 063. Maharashtra, India. Fax : +91 22 26860011 GSTIN: 27AALCS8686A1ZX Tel: +91 22 40332727 / 66942507
CIN: L51900MH2008PLC180452 E-mail: supriya@supriyalifescience .com Website: www.supriyalifescience.com
Factory : A-5/2, Lote Parshuram Industrial Area, M.I.D.C. Tal.– Khed, Dist. – Ratnagiri, Pin :415 722, Maharashtra, India. Tel: +91 2356 272299 Fax: +91 2356 272178 E-mail: factory@supriyalifescience.com
GOVT. RECOGNISED EXPORT HOUSE
Earnings Presentation Q2FY23
Safe Harbour
This presentation and the accompanying slides (the “Presentation”), which have been prepared by Supriya Lifescience Limited (the “Company”), have been prepared solely for
information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in
connection with any contract or binding commitment whatsoever. No offering of securities of the Company will be made except by means of a statutory offering document
containing detailed information about the Company.
This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes no representation or warranty,
express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This
Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this
Presentation is expressly excluded
Certain matters discussed in this Presentation may contain statements regarding the Company’s market opportunity and business prospects that are individually and collectively
forward-looking statements. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and assumptions
that are difficult to predict. These risks and uncertainties include, but are not limited to, the performance of the Indian economy and of the economies of various international
markets, the performance of the industry in India and world-wide, competition, the company’s ability to successfully implement its strategy, the Company’s future levels of growth
and expansion, technological implementation, changes and advancements, changes in revenue, income or cash flows, the Company’s market preferences and its exposure to market
risks, as well as other risks. The Company’s actual results, levels of activity, performance or achievements could differ materially and adversely from results expressed in or implied by
this Presentation. The Company assumes no obligation to update any forward-looking information contained in this Presentation. Any forward-looking statements and projections
made by third parties included in this Presentation are not adopted by the Company and the Company is not responsible for such third-party statements and projections.
All Maps used in the presentation are not to scale. All data, information, and maps are provided "as is" without warranty or any representation of accuracy, timeliness or
completeness.
Q2 FY23 Earnings Presentation
2
Sustainability
Growth
Profitability
TABLE OF CONTENTS
1.
Q2 FY23 Highlights
2.
Company Overview
3.
Historical Financial Performance
4.
Future Outlook
Q2 FY23 Highlights
CMD’s Message
“The first half of the financial year has been difficult for most sectors. However, we believe that this is only a temporary setback on the long road to development. In Q2FY23, we faced challenges in China market due to lockdowns in major cities. This has impacted our performance in the last fiscal. Our operating revenue in Q2FY23 was Rs 1122 mn as against Rs 1502 mn in Q2FY22 with a EBITDA margin of 25% and PAT margin of 15%. For H1FY23 our operating revenue in was Rs 2135 mn as against Rs 2272 mn in H1FY22 with an EBITDA margin of 28% and PAT margin of 20%.
We are confident that in the upcoming quarters we will be able to gain on the lost opportunity.
The important focus areas where we are experiencing excellent progress includes backward integration, increasing capacity for future prospects, and capitalising on CMO/CDMO potential.
Work is progressing well for building new warehouse capacities and R&D facilities, one of which is in Lote for product lifecycle management + backward integration and the other in Ambernath with a pilot plant for new molecules and CMO/CDMO opportunities. These projects at Lote and Ambernath are expected to be fully operational in Q1FY24.
We continue to make investments that will help us build a strong foundation for the long term profitable growth which will help us gain market share.”
Dr. Satish Wagh, Chairman and Managing Director
Q2 FY23 Earnings Presentation
5
Q2FY23 Highlights
(in INR mn)
Revenue
EBITDA
PBT
PAT
y l r e t r a u Q
e c n a m r o f r e P l a n o i g e R
Q2 FY23 Earnings Presentation
Rs. 1,122 mn
Rs. 286 mn
Rs. 274 mn
Rs. 169 mn
-25% YoY
-65% YoY
-65% YoY
-71% YoY
Business Mix Revenue Contribution – By Region
58%
47%
29%
24%
Asia
Europe
LAC
North America
Others
13%
11%
8%
2%
3%
5%
Q2FY22 Q2FY23
6
6
H1 & FY23 Highlights
(in INR mn)
Revenue
EBITDA
PBT
PAT
Rs. 2,135 mn
Rs. 598 mn
Rs. 576 mn
Rs. 421 mn
-6% YoY
-38% YoY
-37% YoY
-36% YoY
Business Mix Revenue Contribution – By Region
63%
32%
24%
19%
H1FY22 H1FY23
23%
12%
13%
8%
2%
4%
y l r e t r a u Q
e c n a m r o f r e P l a n o i g e R
Asia
Europe
LAC
North America
Others
Q2 FY23 Earnings Presentation
7
Business Mix Revenue Contribution – By Therapy
+12%
604
540
Performance of the Therapeutic Areas
528
The loss of sale due to continuous lockdown in China
(in INR mn)
23
137
122
89
111
63
85
57
27
Analgesic/Anesthetic
Anti-histamine
Vitamins
Anti-Asthmatic
Anti-allergic
Anti-malarial
56%
36%
36%
9%
11%
10%
6%
2%
8%
4%
4%
2%
Analgesic/Anesthetic
Anti-histamine
Vitamins
Anti-Asthmatic
Anti-allergic
Anti-malarial
Q2 FY23 Earnings Presentation
Q2FY22 Q2FY23
8
Profit & Loss Statement
Particulars (in INR mn)
Revenue from Operations
Q2 FY23
Q2 FY22
1121.7
1502.3
Y-o-Y
-25%
Q1 FY23
1,013.6
Q-o-Q
11%
H1 FY23
H1 FY22
2135.3
2271.8
Y-o-Y
-6%
Cost of Materials Consumed Changes in Inventories of Finished Goods and Work in Progress Gross Profit
GP %
Employee Benefits Expense
Other Expenses
EBITDA
EBITDA %
Other Income
Depreciation and Amortisation Expense
EBIT
Finance Costs
Exceptional Items
PBT
Total Tax Expense*
Profit for the year
PAT %
EPS
Q2 FY23 Earnings Presentation
424.9
44.0
652.8
58%
129.6
237.6
285.6
25%
26.1
29.7
281.9
7.8
-
274.2
105.6
168.6
15%
2.1
464.4
-28.2
1066.2
71%
94.0
168.9
803.3
53%
9.4
24.6
788.1
10.6
-
777.5
195.3
582.2
39%
7.9
-39%
-18%
-65%
-52%
425.9
-75.7
663.4
65%
126.7
224.3
312.5
31%
23.6
28.9
-2%
-11%
-9%
-17%
-64%
307.2
-8%
-65%
-71%
-61%
5.8
-
301.4
48.9
252.5
25%
3.1
-9%
-33%
-40%
850.8
-31.8
883.6
-51.8
1316.2
1439.9
62%
256.3
461.8
598.1
28%
49.6
58.6
589.1
13.6
-
575.5
154.4
421.1
20%
5.2
63%
177.8
304.3
957.8
42%
28.9
49.4
937.3
20.3
-
916.9
257.4
659.6
29%
9.0
-9%
-3%
-38%
-34%
-37%
-37%
-36%
-32%
9
Summary Statement of Assets and Liabilities
Particulars (in INR mn) ASSETS Non-current assets
(i) Property, plant and equipment
(ii) Right to Use Asset
(iii)Capital Work in progress
(iv) Intangible Assets
(v) Financial Assets
-Investments
-Loans and Advances
(vi) Other Non- Current Assets
Total Non-current assets
Current assets
(i) Inventories
(ii) Financial Assets
-Loans and Advances
-Trade receivables
-Cash and cash equivalents
-Bank balances other than (iii) above
-Other Financial Assets
(iii) Other current assets
Total Current Assets
TOTAL ASSETS
Q2 FY23 Earnings Presentation
Sep 22
Mar 22
1,821.4
55.5
743.6
13.1
0.5
-
41.9
1,824.7
58.0
434.1
15.1
0.5
-
39.8
Particulars (in INR mn) EQUITY
(i) Equity share capital
(ii) Other equity
Total Equity
LIABILITIES
Non-current liabilities
(i) Financial Liabilities
-Borrowings
-Lease Liabilities
-Other financial liabilities
2,676.0
2,372.2
(ii) Provisions
1,063.0
923.1
4.6
807.2
1,288.5
607.2
44.8
1,126.3
4,941.6
7,617.6
5.7
1,151.8
1,657.8
621.3
60.3
555.3
4,975.4
7,347.6
(iii) Deferred tax Liabilities
Total Non-Current Liabilities
Current liabilities
(i) Financial liabilities
-Borrowings
-Lease Liabilities
-Trade payables
-Other financial liabilities
(ii) Provisions
(iii) Other current liabilities
Total Current Liabilities
Sep 22
Mar 22
161.0
6,358.5
6,519.4
161.0
5,995.9
6,156.9
-
56.7
-
40.1
115.4
212.2
304.3
3.1
538.3
3.8
6.6
29.8
885.9
-
53.0
-
29.3
111.5
193.8
213.0
8.2
489.7
7.9
4.1
274.0
997.0
7,347.6
10
TOTAL EQUITY AND LIABILITIES
7,617.6
Summary statement of Cashflow
Particulars (in INR mn)
Cash Flow from Operating Activities
Profit before Tax
Adjustment for Non-Operating Items
Operating Profit before Working Capital Changes
Changes in Working Capital
Cash Generated from Operations
Less: Direct Taxes paid
Net Cash from Operating Activities
Cash Flow from Investing Activities
Cash Flow from Financing Activities
Net increase/ (decrease) in Cash & Cash equivalent
Cash and cash equivalents at the beginning of the year
Effect of exchange rate changes on Cash & Cash Equivalent
Cash and cash equivalents at the end of the year
Q2 FY23 Earnings Presentation
(in INR mn)
Sep 22
Sep 21
575.6
22.7
598.3
-548.4
49.9
-150.5
-100.6
-360.9
78.1
-383.4
2,279.1
-
917.0
41.0
957.9
-613.2
344.7
-183.8
161.0
-96.3
15.4
80.1
922.9
-
1,895.7
1,003.0
11
Company Overview
Business Overview
Niche product basket of
38 APIs
Diversified operations with presence in
86 countries
Largest exporter of Chlorpeniramine Maleate, Ketamine Hydrochloride and Salbutamol Sulphate from India
Manufacturing facility spread across
23,806
sq.mts
Reactor capacity of
597 KL/day
1,200
customers
For FY 2022
Q2 FY23 Earnings Presentation
Approved facility with strong IP
15 DMFs with USFDA
9 CEPs with EDQM
3 process patent filed
13
Journey So Far
2008
2009
2010
2011
2013
2014
Incorporation & conversion from a partnership firm to a public limited company
Started production of Ketamine hydrochloride
CEP granted for Chlorphenamine Maleate
IDL granted for Chlorphenamine Maleate
COFEPRIS and KFDA approval granted
USFDA approval granted; IDL granted for Brompheniramin e Maleate
2015
2017
2018
2020
2021
2022
EUGMP and EDQM approval granted
CEP granted for Pheniramine Maleate; Second time USFDA approval granted
CEP granted for Brompheniramine Maleate, Mepyramine Maleate & Ketamine Hydrochloride
Third time USFDA approval
CEP granted for Pentoxifylline,Esketamine Hydrochloride and Salbutamol Sulphate; NMPA approval granted; Health Canada approval
Listed on Stock Exchange BSE & NSE
CEP (Certificate of suitability ) renewed for Pheniramine Maleate, Chlorpheniramine Maleate and Ketamine Hydrochloride
14
Q2 FY23 Earnings Presentation
Company Differentiators
Significant scale with leadership position across key & niche products
Backward integrated business model
Geographically diversified revenues with a global presence across 86 countries
Advanced manufacturing and research and development capabilities
Experienced senior management team and qualified operational personnel
Consistent strong financial performance due to de-risked business model
Q2 FY23 Earnings Presentation
15
Significant Scale with Leadership Position In Key Products
Niche product offerings of 38 APIs with demonstrated ability to develop & scale-up production
Leading exporter from India
% share of exports from India (in terms of volume)
Presence for 10+ yrs in large & growing markets
45-50%2 Chloropheniramine Maleate
60-65%2 Ketamine Hydrochloride
Cetirizine Dihydrochloride
Diphenhydramine Hydrochloride
Anti-histamine & Anti-allergy
Chlorpheniramine Maleate
Pheniramine Maleate
30-40%3
Salbutamol Sulphate
Ketamine Hydrochloride
Pain management
Q2 FY23 Earnings Presentation
Market size
$3.5bn
8~10% CAGR FY20-25
Market size
$7.8bn
5% CAGR FY20-25
16
Backward Integrated Business Model
Supply Security
Low Price Risk
In-House Processes
Cost-competitive Structure
Steady supply of essential raw materials
Protection against market fluctuations
Less Dependence On External Parties
Increasing margins
12 products are backward integrated* in following therapies
Integrated business model helped us grow revenue and sustain margins in the last year. Large part of growth and sustainability was driven by these backward integrated products
Anesthetics
Anti-Asthmatic
Anti-Histamine
Decongestant
Anti-Gout
71%
of Q2 FY23 revenue
Note: In the process of further backward integrating 3 more products
Q2 FY23 Earnings Presentation
* As on 30th June, 2022
17
Diversified Geographic Presence
Presence in 86+ Countries Across Globe
Q2 FY23 Earnings Presentation
•
•
For key products we are seeing good traction in untapped regulated markets of North America
For Anaesthetic therapy 3 ANDA projects have been initiated and we are also working on ANDA projects for Anti Hypertensive and Vitamins
18
Diversified Revenues with Extensive Global Presence
Significant export presence, with low dependence on a specific geography
… with customer concentration
Export sales, as a % of revenue from operations
Share of top 10 customers, as a % of revenue from operations
72.0%
78.0%
84.0%
79.0%
62%
52%
41%
35%
Q2 FY20
Q2 FY21
Q2 FY22
Q2 FY23
Q2 FY20
Q2 FY21
Q2 FY22
Q2 FY23
Long standing relationship with global pharma companies …
… We plan to reduce customer concentration
Q2 FY23 Earnings Presentation
•
•
•
Penetration of existing products to newer geographies by registering these products
Adding new niche products with high volume potential for which we are building 2 new R&D centers
CMO/CDMO opportunities
19
Advanced Manufacturing and R&D Capabilities
4 Manufacturing blocks segregated therapy wise
7 Clean rooms
597 KL Reactor capacity
23,806 sq.mt. Land area
Scaled up Manufacturing Facilities over the years
Steady improvement in capacity utilization
✓ Well delineated areas for R&D, quality control (chemical microbiology), quality assurance, dedicated areas for engineering maintenance, warehouse, materials and finished goods stores
✓
✓
✓
✓
✓
Effluent treatment plant and an express feeder from the sub-station for power
Block A
Block B
Block C
Block D
Initiated construction of a new warehouse and administration block, with new quality control & assurance lab
Year of Establishment
1993
1994
2014
2021
Acquired a plot of land, measuring 12,551 sq.mt., near present manufacturing facility – for future growth
Acquired a plot of land, measuring 24,646 sq.mt, 20 kms from the present manufacturing facility for backward integration
Acquired a plot of land measuring 80,000 sq mt, at Isambe near Patalganga
Capacities
157 KL
195 KL
30 KL
215 KL
Regulatory Approved
✓
✓
✓
✓
Q2 FY23 Earnings Presentation
63%
63%
52%
71%
72%
capacity increased
47%
FY18
FY19
FY20
FY21
FY22
Q2FY23
20
R&D Capabilities
Supported by R&D driven mindset
15* DMFs
9* CEPs
3* Process Patent Filed in India
DSIR approved facility
✓ The Company has a DSIR approved R&D facility in Parshuram Lote, Maharashtra.
✓ Team of 26 scientists* primarily focused across the value chain of API process development
✓ Supriya’s R&D efforts are mainly focused across the value chain of API process development, demonstrated by a strong pipeline of products
✓ Consistent efforts towards
• • •
Developing new products Improving existing products and drug delivery systems Expanding product applications
Q2 FY23 Earnings Presentation
* As of March 31, 2022
21
Complex Chemistries & Reaction
Focus on uniform manufacturing standards to achieve standardised product quality across markets
Ability to handle complex chemistries..
✓ Simple to highly complex chiral
centre molecules
✓ Control category drugs
✓ Drugs with specialized
environment for manufacturing (Methylcobalamin, Vitamin B12 & derivatives)
s n o i t c a e r
f o s s a
l c d e i r a v s s o r c a …
Cyclisation
High vacuum distillations Grignard reaction Fridel craft acylation
Decyanation
Etherification
Formylation
High pressure catalytic reductions
Bromination Nitration Oxirane
Q2 FY23 Earnings Presentation
22
Recognized by Key Regulatory Bodies
Q2 FY23 Earnings Presentation
23
Number of API’s Under Pipeline
API’s Under Pipeline
USDMF’s
CEP
USDMF
CEP
CEP
15 API’s
9 API’s
4 API
1 API’s
4 API’s
Status
Submitted
Granted
Submission Under Progress
Assessment Under Progress
Submission Under Progress
Q2 FY23 Earnings Presentation
24
Awards & Accreditation
2009
2010
2016
2017
2019
Certificate of Excellence for outstanding Export Performance in the product group Chemicals, Drugs, Pharma and Allied Products (MSME) awarded by Federation of Indian Export Organisation
Special Recognition National Award for Research and Development awarded by Ministry of Micro Small and Medium Enterprises, Government of India
Export House for the Year for 2015-16 awarded by Directorateof Industries, Government of Maharashtra Export Achievement for 2015-16 in the product group Basic Chemical, Pharmaceutical & Cosmetics Products (MSME) awarded by Directorate of Industries, Government of Maharashtra
Export House for the Year for 2016-17 awarded by Directorateof Industries, Government of Maharashtra Export Achievement for 2016-17 in the product group Basic Chemical& Pharmaceutical Cosmetics (SSI) awarded by Directorate of Industries, Government of Maharashtra
Outstanding Export Performance Award for the year 2018-19 for product group API / Bulk Drugs by Pharmaceuticals Export Promotion Council of Indi
Awards
Q2 FY23 Earnings Presentation
Awards
25
Key Management Team
Satish Wagh
Saloni Wagh
Shivani Wagh
Rajeev Jain
Ashish Nayak
Chairman & MD
Whole-time Director
Whole-time Director
Chief Executive Officer
Chief Financial Officer
• B.Sc. from R.D National College and W.A. Science College, University of Bombay, Mumbai & an honorary Ph.D. in entrepreneurship from Faculty of Management Studies, National American University.
• Director on the boards of Supriya Medi-Chem Private Limited, Lote Industries Testing Laboratory Association and Sachin Industries Limited.
Q2 FY23 Earnings Presentation
• B.Sc. from Parle Tilak Vidhyalaya Association’s Sathaye College, University of Mumbai, Mumbai,a master’s degree in science from Institute of Science, University of Mumbai, Mumbai and a PhD in chemistry from the Faculty of Science, Pacific University, Udaipur
• Bachelor’s degree in management
studies from M.L. Dahanukar College of Commerce, University of Mumbai, Mumbai and master’s degree in International business management from Manchester Business School, University of Manchester, Manchester
• Master of Business Administration (Marketing) from Jivaji University, Gwalior and B Sc (PCB) with distinction
• Previously associated with Morepen
Labs Ltd., Ind Swift Labs, Arch Pharma, Trident Group and Max India (DSM)
• He has cleared the final examination
held by the ICAI
• Previously associated with Brand
Holdings (India) Pvt. Ltd. as the CFO, Timezone Entertainment Pvt. Ltd. as the CFO, Foresight Vision Care Company Pvt. Ltd. and Crown Healthcare
26
Historical Financial Performance
Consistent & Strong Financial Performance
Robust revenue growth
… Capex Spend
… and, focus on profitability
+23.7%
5,300.5
3,911.9
2,801.0
3,195.4
FY19
FY20
FY21
FY22
Return on Net Worth
49.2%
46.0%
42.0%
53
FY19
0.94
949
+47.3%
1,732
1,236
1,063
734
670
394
EBITDA
PAT
2,140
1,518
179
94
FY20
FY21
FY22
FY19
FY20
FY21
FY22
Healthy leverage profile
Strong operating performance
3.41
3.33
3.97
2.85
24.7%
0.55
0.26
FY19
FY20
FY21
FY22
FY19
FY20
FY21
0.04
FY22
FY19
FY20
FY21
FY22
(in INR mn)
Q2 FY23 Earnings Presentation
28
Working Capital Break-up
Inventory
206
172
130
76
Receivables
68
53
73
63
FY19
FY20
FY21
FY22
FY19
FY20
FY21
FY22
Payables
Net Working Capital
78
79
75
194
196
49
105
67
FY19
FY20
FY21
FY22
FY19
FY20
FY21
FY22
No of days
Q2 FY23 Earnings Presentation
29
Summary Statement of Profit and Loss
Particulars (in INR mn)
Total Revenue
Cost of Materials Consumed
Purchase of Traded Goods
Changes in Inventories of Finished Goods and Work in Progress
Gross Profit
GP %
Employee Benefits Expense
Other Expenses
EBITDA
EBITDA %
Other Income
Depreciation and Amortisation Expense
EBIT
Finance Costs
Exceptional Items
PBT
Total Tax Expense
Profit for the year
PAT %
EPS
Q2 FY23 Earnings Presentation
FY22
5,300.5
1,988.3
-
-30.3
3,342.4
63%
490.8
711.8
2,139.8
40%
75.8
101.2
2,114.4
42.0
-
2,072.4
554.4
1,518.1
29%
18.86
FY21
3,912.4
1,405.7
-
-124.5
2,631.2
67%
327.6
571.8
1,731.7
44%
49.8
67.6
1,713.9
40.8
-
1,673.1
437.2
1,236.0
32%
16.89
FY20
3,195.4
1,523.8
-
-139.0
1,810.5
57%
255.9
491.8
1,062.8
33%
31.8
63.8
1,030.8
68.5
-
962.3
228.2
734.0
23%
50.14
FY19
2,801.0
1,460.7
-
8.0
1,332.3
48%
189.7
472.5
670.0
24%
57.6
54.3
673.3
102.2
-
571.0
176.8
394.2
14%
26.93
30
Summary Statement of Assets and Liabilities
Particulars (in INR mn)
ASSETS
Non-current assets
(i) Property, plant and equipment
(ii) Right to Use Asset
(iii)Capital Work in progress
(iv) Intangible Assets
(v) Financial Assets
-Investments
-Loans and Advances
(vi) Other Non- Current Assets
Total Non-current assets
Current assets
(i) Inventories
(ii) Financial Assets
-Trade receivables
-Cash and cash equivalents
-Bank balances other than above
-Other financial Assets
-Loans and Advances
(iii) Other current assets
Total Current Assets
TOTAL ASSETS
Q2 FY23 Earnings Presentation
Mar 22
Mar 21
1824.7
58.0
434.1
15.1
0.5
0.0
39.8
969.5
14.7
787.9
16.1
0.5
0.0
11.2
2,372.18
1,800.03
923.1
1151.8
1657.8
621.3
60.3
5.7
555.3
4975.4
7347.6
724.8
735.0
435.0
457.8
30.2
5.4
266.5
2654.6
4454.7
Particulars (in INR mn) EQUITY AND LIABILITIES
EQUITY
(i) Equity share capital
(ii) Other equity
Total Equity
LIABILITIES
Non-current liabilities
(i) Financial Liabilities
-Borrowings
-Lease Liabilities
-Other financial liabilities
(ii) Provisions
(iii) Deferred tax Liabilities
Total Non-Current Liabilities
Current liabilities
(i) Financial liabilities
-Borrowings
-Lease Liabilities
-Trade payables
-Other financial liabilities
(iii) Provisions
(ii) Other current liabilities
Total Current Liabilities
TOTAL EQUITY AND LIABILITIES
Mar 22
Mar 21
161.0
5,995.9
6,156.9
- 53.0
-
29.3
111.5
193.8
213.0
8.2
489.7
7.9
4.1
274.0
997.0
7,347.6
146.4
2,539.5
2,685.8
- 20.7
194.9
13.0
80.1
308.6
701.3
-
510.2
5.7
9.1
234.0
1,460.2
4,454.7
31
Summary statement of Cashflow
Particulars (in INR mn)
Cash Flow from Operating Activities
Profit before Tax
Adjustment for Non-Operating Items
Operating Profit before Working Capital Changes
Changes in Working Capital
Cash Generated from Operations
Less: Direct Taxes paid
Net Cash from Operating Activities
Cash Flow from Investing Activities
Cash Flow from Financing Activities
Net increase/ (decrease) in Cash & Cash equivalent
Cash and cash equivalents at the beginning of the year
Effect of exchange rate changes on Cash & Cash Equivalent
Cash and cash equivalents at the end of the year
FY22
FY21
FY20
FY19
(in INR mn)
2,072.4
1,673.9
68.7
2,141.2
-1,043.5
1,097.6
-609.6
488.0
-598.2
1,496.5
1,386.3
922.9
0.0
2,309.2
53.1
1,727.0
1,844.0
-117.0
-299.9
799.3
-474.1
-149.3
175.9
747.1
0.0
922.9
962.3
102.4
1,064.7
669.6
395.0
-270.1
1,160.6
-245.3
-292.3
623.1
124.0
0.0
747.1
571.0
124.6
695.6
655.5
40.1
-140.9
486.7
48.3
-497.2
37.9
86.1
0.0
124.0
Q2 FY23 Earnings Presentation
32
Future Outlook
Future Outlook
Two new R&D centres
• The future of company lies in R&D, initiated the process of setting up enhanced R&D facility
1. At Lote Parshuram to cater to lifecycle management and further backward integration projects (to be operational by Q3FY23) 2. At Ambernath to cater to new molecules and CMO/CDMO business. (to be operational by Q3FY23)
• These centres will help to develop identified APIs which will complement existing product profile.
• Further controlled drugs portfolio to be expanded , identification of potential APIs have been done which are in development pipeline, also evaluating product portfolio expansion by
selecting products in anti-diabetic and CNS range.
New markets
• Company is currently doing business with over 1200+ customers and has presence in more than 86 countries.
• The geographical locations are distributed within sales team to focus on sustaining the business and expansion through new customer acquisition.
• For regulated market, regulatory team is registering the products and filling DMFs. Sales team is in discussion with new customers to qualify Supriya as source and started sending
samples and supplying APIs for their validation of products.
• Company has taken additional steps for business expansion around the globe especially in north America market, Japan, Australia and New Zealand.
Q2 FY23 Earnings Presentation
34
Future Outlook
CMO/CDMO space
• Company understands large scale special chemical manufacturing and has experience in handling hazardous complex process chemistry.
•
Initiated discussion with various companies ranging from big pharma to innovator companies to work as a partner for supplying products as per their needs.
• Currently work in progress on 5 projects including developing process in the laboratory for these projects. Also with the new capacity being setup in Ambernath more CMO/CDMO
opportunities will be pursued
• Two of the CMO/CDMO opportunities that we were working on have moved to phase two and we expect to initiate the regulating filing in Q4FY23.
Capacity enhancement
• Capacity enhancement for further backward integration for existing products, new product rollouts and CMO/CDMO opportunities
• Currently plants are running at full capacity. Company is enhancing and expanding infrastructure at Lote Parshuram for R&D, Quality Laboratory, warehousing and effluent treatment.
• These facilities are expected to be operational in FY23. Work in progress on the next manufacturing block (E block) at Lote Parshuram with capacity of 340 KL to replace old block with
145 KL capacity.
• A new manufacturing block with capacity of 70 KL along with a new R&D facility with Pilot plant is also being set up at Ambernath.
• With these projects the total capacity will increase from 547 KL to 810 KL by Q1 FY24
• The existing plots at Lote Parshuram and Ambernath will be fully utilised once these projects are operational
Q2 FY23 Earnings Presentation
35
Glossary
• • • • • • • • • • • • • • •
API – Active Pharmaceutical Intermediates DMF – Drug Master File CEP – Certificate of Sustainability USFDA – US Food And Drug Administration EDQM – European Directorate for the Quality of Medicines & HealthCare IDL – Import Drug Licence of China KFDA – Korea Medical Device Registration COFEPRIS – Mexico Medical Device Registration NMPA – National Medical Products Administration SFDA – Saudi Food And Drug Authority DSIR – Department of Scientific and Industrial Research cGMP – Current Good Manufacturing Practice KSM – Key Starting Material WHO – World Health Organisation CDC – Centres for Disease Control and Prevention
Q2 FY23 Earnings Presentation
36
Thank You!
Company :
Investor Relations Advisors :
Supriya Lifescience Limited CIN: L51900MH2008PLC180452
Mr. Ashish Nayak – Chief Financial Officer cfo@supriyalifescience.com
www.supriyalifescience.com
Orient Capital (a division of Link Group)
Ms. Rasika Sawant +91 95944 57518 rasika.sawant@linkintime.co.in
Mr. Rajesh Agrawal +91 99674 91495 rajesh.agrawal@linkintime.co.in
37