Supriya Lifescience Limited has informed the Exchange about Investor Presentation
Date: May 27, 2023
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 Q4FY23 and FY 23
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.
Q4 & FY23 Earnings Presentation
2
Sustainability
Growth
Profitability
TABLE OF CONTENTS
1.
Q4 FY23 Highlights
2.
Company Overview
3.
Historical Financial Performance
4.
Future Outlook
Q4 FY23 Highlights
CMD’s Message
the past
“Over two years, we have witnessed the industry undergoing significant transformations in response to the challenges posed by the pandemic. Despite the headwinds and market volatility, we have achieved a decent quarter.
For FY23, our operating revenue was Rs. 4,609 Mn as against Rs. 5300 Mn in FY22 with an EBITDA margin of 28% and PAT margin of 19.5%. Our operating revenue in Q4FY23 was Rs 1,423 Mn as against Rs 1,813 Mn in Q4FY22 with an EBITDA margin of 39% and PAT margin of 27%
Our key therapy and market- China continues to be impacted and we are actively working on strategies to mitigate the impact and regain momentum. On the other hand, our regulated markets like Europe, North America and Latin America have shown positive performance. We have also seen improved traction in therapies such as anesthetic , anti- asthmatic and anti allergic.
We are in line with our commitment to growth and resilience, we have been focusing on regulatory market presence, optimizing manufacturing capacity, and expanding our diversifying our product offerings and geographic reach.
All these efforts have been instrumental in positioning our organization for long-term success and mitigating the risks associated with market fluctuations.”
Dr. Satish Wagh, Chairman and Managing Director
Q4 & FY23 Earnings Presentation
5
Q4FY23 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
Rs. 1,422.7 mn
Rs. 550.5 mn
Rs. 532.9 mn
Rs. 382.3 mn
-21.5% YoY
-14.2% YoY
-29.4% YoY
-17.3% YoY
Business Mix Revenue Contribution – By Region
51%
50%
40%
35%
30%
26%
Asia
Europe
13%
13%
9%
LAC
10%
5%
2%
3% 5%
7%
North America
Others
Q4FY22 Q3FY23 Q4FY23
6
Q4 & FY23 Earnings Presentation
Q4FY23 Highlights
(in INR mn)
Revenue
+35%
1,422.7
1,051.4
EBITDA
+292%
PBT
+322%
PAT
+302%
550.5
532.9
382.3
y l r e t r a u Q
140.4
126.4
95.2
Q3FY23
Q4FY23
Q3FY23
Q4FY23
Q3FY23
Q4FY23
Q3FY23
Q4FY23
EBITDA Margins
PAT Margins
2,530 Bps
1,780 Bps
38.7%
26.9%
Our company has achieved growth over sequential quarters, with
EBITDA margins increasing by 25.3% and
PAT margins increased by 17.8%.
13.4%
9.1%
This performance can be attributed to our strategic focus on optimizing the product mix and geography.
Q3FY23
Q4FY23
Q3FY23
Q4FY23
Q4 & FY23 Earnings Presentation
7
FY23 Highlights
(in INR mn)
Revenue
EBITDA
PBT
PAT
D T Y
e c n a m r o f r e P l a n o i g e R
Rs. 4,609.4 mn
Rs. 1,289.0 mn
Rs. 1,234.9 mn
Rs. 898.6 mn
-13.0% YoY
-39.8% YoY
-40.4% YoY
-40.8% YoY
Business Mix Revenue Contribution – By Region
50%
45%
30%
33%
Asia
Europe
LAC
North America
Others
12%
12%
8%
3%
4%
2%
FY22 FY23
8
Q4 & FY23 Earnings Presentation
Business Mix Revenue Contribution – By Therapy
Performance of the Therapeutic Areas
44%
41%
FY22 FY23
21%
15%
12%
11%
12%
8%
8%
5%
9%
2%
Analgesic/Anesthetic
Anti-histamine
Vitamins
Anti-Asthmatic
Anti-allergic
Anti-malarial
Q4 & FY23 Earnings Presentation
9
Q4 FY23 Profit & Loss Statement
Particulars (in INR mn)
Revenue from Operations
Q4 FY23
Q4 FY22
Y-o-Y
Q3 FY23
1,422.7
1,812.7
-21.5%
1,051.4
Q-o-Q
35.3%
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
475.2
0.4
947.1
66.6%
153.0
243.7
550.5
382.4
325.9
1,104.4
60.9%
128.7
223.5
752.2
38.7%
41.5%
19.6
30.1
38.6
25.8
-14.2%
-26.8%
547.2
-33.7
537.9
51.2%
146.4
251.1
140.4
13.4%
25.6
29.5
FY23
4,609.4
1,873.2
FY22
5,300.5
1,988.3
-65.1
-30.3
Y-o-Y
-13.0%
76.1%
2,801.3
3,342.5
-16.2%
60.8%
63.1%
555.8
956.5
490.8
711.8
291.9%
1,289.0
2,139.9
-39.8%
28.0%
40.4%
94.9
118.2
75.8
101.2
EBIT
Finance Costs
Exceptional Items
PBT
Total Tax Expense
Profit for the year
PAT %
EPS
Q4 & FY23 Earnings Presentation
540.0
765.0
-29.4%
136.5
295.4%
1,265.7
2,114.4
-40.1%
7.1
0.0
532.9
150.6
382.3
10.2
0.0
754.8
292.7
462.1
26.9%
25.5%
4.75
5.74
-29.4%
-17.3%
10.2
0.0
126.3
31.3
95.2
9.1%
1.18
30.8
0.0
42.0
0.0
321.6%
1,234.9
2,072.5
-40.4%
301.6%
336.3
898.6
19.5%
11.16
554.4
1,518.1
-40.8%
28.6%
18.86
10
Balance Sheet Statement
Particulars (in INR mn)
Mar 23
Mar 22
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
Q4 & FY23 Earnings Presentation
2,551.2
53.2
676.3
11.1
253.0
-
9.3
3,553.9
1,157.7
846.6
852.5
723.3
64.1
5.5
999.2
4,648.9
8,202.8
1,824.7
58.0
434.1
15.1
0.5
-
39.8
2,372.2
923.1
1,151.8
1,657.8
621.3
60.3
5.7
555.3
4,975.3
7,347.5
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 23
Mar 22
161.0 6,833.6 6,994.6
- 54.9 - 58.7 136.8 250.4
166.2 3.5 642.3 8.2 8.4 129.2 957.8 8,202.8
161.0 5995.8 6,156.8
- 53.0 - 29.3 111.5 193.8
213.0 8.2 489.7 7.9 4.1 274.0 996.9 7,347.5
11
Cash Flow Statement
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
Q4 & FY23 Earnings Presentation
FY23
FY22
1,234.9
72.0
1,306.8
-356.4
950.4
-288.6
661.9
-1,331.5
-33.7
-703.3
2,279.1
-
2,072.5
68.7
2,141.2
-1,043.5
1,097.6
-609.6
488.0
-598.2
1,496.5
1,386.3
892.8
-
1,575.8
2,279.1
12
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
Q4 & FY23 Earnings Presentation
Approved facility with strong IP
15 DMFs with USFDA
9 CEPs with EDQM
3 process patent filed
14
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
15
Q4 & 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
Q4 & FY23 Earnings Presentation
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
78%
of Q4 FY23 revenue
Note: In the process of further backward integrating 3 more products
Q4 & FY23 Earnings Presentation
* As on 31st December 2022
17
Diversified Geographic Presence
Presence in 86+ Countries Across Globe
Q4 & 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%
77.0%
76.0%
80.0%
40%
32%
47%
45%
FY20
FY21
FY22
FY23
FY20
FY21
FY22
FY23
Long standing relationship with global pharma companies …
… We plan to reduce customer concentration
Q4 & 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
✓
✓
✓
✓
Q4 & FY23 Earnings Presentation
63%
63%
52%
71%
70%
capacity increased
47%
FY18
FY19
FY20
FY21
FY22
FY23
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
Q4 & 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
Q4 & FY23 Earnings Presentation
22
Recognized by Key Regulatory Bodies
Q4 & 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
Q4 & 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 Directorate of 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 Directorate of 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
Q4 & FY23 Earnings Presentation
Awards
25
Key Management Team
Satish Wagh
Saloni Wagh
Shivani Wagh
Rajeev Jain
Krishna Raghunathan
Chairman & MD
Whole-time Director
Whole-time Director
Chief Executive Officer
Chief Financial Officer
• 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)
• B.Sc. from R.D National College and W.A. Science College, University of Bombay, Mumbai & an honorary in entrepreneurship from Ph.D. Faculty of Management Studies, National American University.
• Director on the boards of Supriya Medi-Chem Private Limited, Lote Industries Laboratory Testing Association and Sachin Industries Limited.
Q4 & FY23 Earnings Presentation
(CA)
• Chartered Accountant
from ICAI and bachelor degree of Science in Zoology from Madras University, Chennai.. • Previously with companies Reddy’s Laboratories Limited and Granules India Limited.
associated like
Dr.
26
Historical Financial Performance
Consistent & Strong Financial Performance
Robust revenue growth
… Capex Spend
… and, focus on profitability
+13.3%
5,300.5
3,911.9
4,609.4
2,801.0
3,195.4
1,078
949
+17.8%
1,732
179
94
53
1,236
1,063
734
670
394
EBITDA
PAT
2,140
1,518
1,289
899
FY19
FY20
FY21
FY22
FY23
FY19
FY20
FY21
FY22
FY23
FY19
FY20
FY21
FY22
FY23
Return on Net Worth
Healthy leverage profile
Strong operating performance
49.2%
46.0%
42.0%
0.94
3.97
3.41
3.33
24.7%
12.9%
0.55
0.26
2.85
1.77
FY19
FY20
FY21
FY22
FY23
FY19
FY20
FY21
0.04
FY22
0.03
FY23
FY19
FY20
FY21
FY22
FY23
(in INR mn)
Q4 & FY23 Earnings Presentation
28
Working Capital Break-up
Inventory
Receivables
233
206
172
68
53
73
63
61
130
76
FY19
FY20
FY21
FY22
FY23
FY19
FY20
FY21
FY22
FY23
Payables
Net Working Capital
78
79
75
59
49
235
194
196
105
67
FY19
FY20
FY21
FY22
FY23
FY19
FY20
FY21
FY22
FY23
No of days
Q4 & 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
Q4 & FY23 Earnings Presentation
FY23
4,609.4
1,873.2
-
-65.1
2,801.3
60.8%
555.8
956.5
1,289.0
28.0%
94.9
118.2
1,265.7
30.8
0.0
1,234.9
336.3
898.6
19.5%
11.16
FY22
5,300.5
1,988.3
-
-30.3
3,342.4
63.1%
490.8
711.8
2,139.8
40.4%
75.8
101.2
2,114.4
42.0
-
2,072.4
554.4
1,518.1
28.6%
18.86
FY21
3,912.4
1,405.7
-
-124.5
2,631.2
67.3%
327.6
571.8
1,731.7
44.3%
49.8
67.6
1,713.9
40.8
-
1,673.1
437.2
1,236.0
31.6%
16.89
30
Summary Statement of Assets and Liabilities
Particulars (in INR mn)
Mar 23
Mar 22
Mar 21
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
2,551.2
53.2
676.3
11.1
253.0
-
9.3
1,824.7
58.0
434.1
15.1
0.5
-
39.8
969.5
14.7
787.9
16.1
0.5
-
11.2
Total Non-current assets
3,553.9
2,372.2
1,800.03
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
Q4 & FY23 Earnings Presentation
1,157.7
923.1
846.6
852.5
723.3
64.1
5.5
999.2
4,648.9
8,202.8
1,151.8
1,657.8
621.3
60.3
5.7
555.3
4,975.3
7,347.5
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 23
Mar 22
Mar 21
161.0 6,833.6 6,994.6
161.0 5,995.8 6,156.8
146.4 2,539.5 2,685.8
- 54.9 - 58.7 136.8 250.4
166.2 3.5 642.3 8.2 8.4 129.2 957.8 8,202.8
- 53.0 - 29.3 111.5 193.8
213.0 8.2 489.7 7.9 4.1 274.0 996.9 7,347.5
- 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
FY23
FY22
FY21
(in INR mn)
1,234.9
72.0
1,306.8
-356.4
950.4
-288.6
661.9
-1,331.5
-33.7
-703.3
2,279.1
0.0
2,072.5
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
892.8
0.0
53.1
1,727.0
1,844.0
-117.0
-299.9
799.3
-474.1
-149.3
175.9
747.1
-
Cash and cash equivalents at the end of the year
1,575.8
2,279.1
922.9
Q4 & 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. The R&D lab at Lote Parshuram spread across 800 Sqm with 20 fume hoods is now commissioned and in operation. In this lab along with lifecycle
management and backward integration the focus would be on new product development and CMO/CDMO opportunities.
2. The Ambernath lab is currently under construction and will be operational by Q3FY24. and this would be used for next phase of expansion
• 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.
Q4 & 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
• We have recently announced one of our key CMO project with a leading European company where we will be exclusive API supplier. The contract spans a period
of 10 years and is expected to generate peak revenue of 40 Crs/year starting from FY27
•
In addition to the aforementioned contract, the company has identified two similar opportunities in the API and advanced intermediate space, along with several other potential opportunities
Capacity enhancement
• Capacity enhancement for further backward integration for existing products, new product rollouts and CMO/CDMO opportunities
• Work in progress on the next manufacturing block (E block) at Lote Parshuram with capacity of 340 KL to be operational by Q3FY24
• 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 597 KL to 900 KL by Q3 FY24
Q4 & 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
Q4 & FY23 Earnings Presentation
36
Thank You!
Company :
Investor Relations Advisors :
Supriya Lifescience Limited CIN: L51900MH2008PLC180452
Mr. Krishna Raghunathan - Chief Financial Officer cfo@supriyalifescience.com
www.supriyalifescience.com
Orient Capital (a division of Link Group)
Mr. Irfan Raeen +91 97737 78669 irfan.raeen@linkintime.co.in
Mr. Rajesh Agrawal +91 99674 91495 rajesh.agrawal@linkintime.co.in
37