Themis Medicare Limited has informed the Exchange about Investor Presentation

TML: CS: BSE/NSE CORR: 2023-24

15th May, 2023

Listing Department, BSE Limited, P. J. Towers, Dalal Street, Mumbai-400001

Listing Department, National Stock Exchange of India Ltd. “Exchange Plaza”, Bandra – Kurla Complex, Bandra – East, Mumbai- 400 051

Dear Sir/Madam,

Sub: Subject: Investor Presentation

Ref: 1. Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements)

Regulations, 2015

2. BSE Scrip Code: 530199

3. NSE Scrip Code: THEMISMED

In terms of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended), we submit herewith the Investors’ Presentation of the Company, with respect to Business Overview of Themis Medicare Limited (‘the Company’).

Further, a copy of the same is also available on the website of the Company, viz., https://www.themismedicare.com

Kindly take the above on record and acknowledge receipt of the same.

Thanking you,

Yours faithfully, For THEMIS MEDICARE LIMITED

Sangameshwar Iyer Company Secretary & Compliance Officer

Encl : as above

Themis Medicare Limited Corporate Office: 11/12 Udyog Nagar, S V Road, Goregaon (W), Mumbai – 400 104, India *Tel.: 91-22-67607080*Fax: 91-22-67607070/ 28746621 Regd. Office: Plot No. 69-A, G.I.D.C., Industrial Estate, Vapi-Gujarat CIN No.: L24110GJ1969PLC001590 *Tel/ Fax No.: Regd. Off.: 0260-2431447/ 2430219 *E-mail: themis@themismedicare.com*Website: www.themismedicare.com

In every possibility lies an innate, latent power to change lives

Themis Medicare Ltd.

Investor Presentation Q4 & FY23

Disclaimer

This presentation has been prepared by Themis Medicare Limited (the “Company” or “Themis” or “TML”) solely for information purposes and does 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 what so ever. 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. 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.

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Table of Contents

Consolidated Financial Highlights

Company Overview

Way Ahead

3

Consolidated Financial Highlights

Recent Developments

• Received DCGI approval of Remifentanil Hydrochloride 1mg/2mg for injection for import and marketing. It will be marketed under brand name REMITHEM®, rapid-acting narcotic analgesic that fulfills long-awaited need in Indian market

• Received no objection from DCGI for manufacturing and marketing Diclofenac Injection 75mg/ml which the Company

had stopped manufacturing and marketing

•

Investments in Capex: o Upgrading injectable line

o Investing in EU GMP certification - open doors for export opportunities

o Expanding R&D base –

 Investments in Hyderabad facility  Establishing new R&D lab at Baroda  Recruitment of skilled manpower to enhance R&D capabilities

5

Consolidated Quarterly Financial Highlights – Q4 FY22-23

Particulars (Rs. Cr.)

Net Revenue Cost of Material Consumed Purchase of SIT Changes in Inventory Employee Expenses Other Expenses Total Expenditure EBITDA EBITDA Margin Other Income Depreciation Interest / Finance Cost

Add: Share of P/L of Associates & JV

PBT Tax PAT PAT Margin%

Add: Other Comprehensive Income

PAT after MI EPS in Rs.

Q4 FY22-23 80.10 30.32 10.58 (13.10) 17.72 24.10 69.62 10.48 13.08% 2.95 2.80 2.71

2.37

10.29 1.89 8.41 10.49% (0.17) 8.24 9.13

Q4 FY21-22 79.80 27.12 5.88 (6.25) 13.64 25.00 65.39 14.41 18.06% 1.84 2.39 1.93

2.41

14.34 4.39 9.95 12.47% (0.10) 9.85 10.81

Y-o-Y (%) 0.39%

(27.27%) (498 bps)

(15.52%) (198 bps)

(15.54%)

Q3 FY22-23 88.78 29.77 6.26 (2.60) 16.62 23.46 73.51 15.27 17.20% 5.90 2.67 2.23

1.23

17.50 4.19 13.31 14.99% (0.09) 13.23 14.47

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Consolidated Financial Highlights

Revenue (Rs. Cr.)*

394.6

354.3

Revenue (Rs. Cr.)

API

Formulation

262.6

220.0

183.8

201.6

230.7

129.2

136.0

150.3

132.0

124.0

54.6

65.6

80.5

FY18-19

FY19-20

FY20-21

FY21-22

FY22-23

FY18-19

FY19-20

FY20-21

FY21-22

FY22-23

EBITDA (Rs. Cr.)** / Margin (%)

PAT (Rs. Cr.) / Margin (%)

120

100

80

60

40

20

0

24.2%

21.5%

17.7%

1.2% 2.3

35.7

49.5

19.0%

67.5

95.6

30%

25%

20%

15%

10%

5%

0%

FY18-19

FY19-20

FY20-21

FY21-22

FY22-23

*Revenue consists of Other Operating Revenue **EBITDA is excl. Other Income

15.5%

12.3%

18.5%

72.9

16.1%

56.9

35.7

-5.9%

-10.8

24.8

FY18-19

FY19-20

FY20-21

FY21-22

FY22-23

80

70

60

50

40

30

20

10

0

-10

-20

20%

15%

10%

5%

0%

-5%

-10%

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Annual Consolidated Financial Highlights – FY22-23

Particulars (Rs. Cr.)

Net Revenue

Cost of Material Consumed

Purchase of SIT

Changes in Inventory

Employee Expenses

Other Expenses

Total Expenditure

EBITDA

EBITDA Margin

Other Income

Depreciation

Interest / Finance Cost

Add: Share of P/L of Associates & JV

PBT

Tax

PAT

PAT Margin%

Add: Other Comprehensive Income

PAT after MI

EPS in Rs.

FY22-23

354.32

96.04

30.12

(7.79)

66.15

102.36

286.87

67.45

19.04%

11.50

10.49

9.56

13.62

72.51

15.61

56.90

16.06%

(0.43)

56.47

61.83

FY21-22

394.61

113.63

31.45

3.06

51.97

98.87

298.98

95.64

24.24%

6.54

9.48

8.77

11.34

95.26

22.38

72.88

18.47%

(0.34)

72.54

79.22

Y-o-Y (%)

(10.21%)

(29.47%)

(520 bps)

(21.93%)

(241 bps)

(21.95%)

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Balance Sheet Ratios

Working Capital Days

Debt to Equity*

219

231

167

120

179

0.67

0.67

0.46

0.27

0.27

FY18-19

FY19-20

FY20-21

FY21-22

FY22-23

FY18-19

FY19-20

FY20-21

FY21-22

FY22-23

RoCE**

-1.27%

RoE***

10.93%

14.69%

25.34%

15.88%

25.23%

16.15%

16.64%

-6.84%

13.50%

FY18-19

FY19-20

FY20-21

FY21-22

FY22-23

FY18-19

FY19-20

FY20-21

FY21-22

FY22-23

*Equity for D/E calculation does not include PPE Revaluation reserves

**RoCE = EBIT/(Shareholders Fund + Total Debt- Non Current Investments); ***RoE = Net Profit/Net Worth

9

Consolidated Balance Sheet as on 31st Mar’23

Rs. Cr.

Shareholders Funds Share Capital Other Equity Non Controlling interest Non Current Liabilities Long Term Borrowing Lease Liabilities LT Provisions Deferred Tax Liability(net)

Current Liabilities Short term Borrowings Lease Liabilities Trade Payables Total outstanding dues of micro and small enterprises Total outstanding dues of creditors other than micro and small enterprises Other Financial Liabilities Other Current Liabilities Short term Provisions Current Tax Liabilities (Net) Total Equity & Liabilities

As on 31st Mar’23 339.44 9.20 330.24 0.00 35.39 28.45 0.00 0.00 6.94 139.13 63.51 0.42

As on 31st Mar’22 287.49 9.20 278.29 0.00 30.77 23.88 0.42 0.00 6.47 109.52 54.67 0.76

7.04

1.74

33.00

24.60 0.67 2.39 7.50 513.95

30.13

16.86 0.74 1.86 2.75 427.78

Rs. Cr.

Non Current Assets Plant, Property & Equipment Capital Work In Progress Right-of-use Assets Intangible Assets Investments Financial Assets Investments Other Financial Assets Deferred tax Assets (Net) Other Non-Current Assets Current Assets Inventories Financial Assets Trade Receivables Cash & Cash Equivalents Bank balance other than above Other Financial Assets Other Current Assets Total Assets

As on 31st Mar’23 249.42 160.97 2.60 0.46 0.77 69.72

As on 31st Mar’22 213.62 141.79 2.56 1.22 0.99 56.08

0.28 0.37 0.00 14.26 264.53 68.95

145.02 12.55 6.34 4.92 26.75 513.95

0.23 1.82 0.00 8.93 214.16 60.81

100.56 20.28 6.22 4.94 21.34 427.78

• Recommended dividend for FY23 of Rs. 5/- i.e. @ 50% per equity share having face value of Rs.10/-, subject to approval of shareholders • The Board considered proposal for sub-division of 1 equity share having face value of Rs.10/- each into 10 equity shares having face value of Rs.1/- each, subject to regulatory/statutory

approvals and approval of shareholders

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Company Overview

Snapshot of Company

1969 Themis Chemicals established

Strategic focus To become Leader in Hospital Business in India

3 State of art manufacturing facilities in India – 1 Formulations and 2 APIs

4,000+ Nationwide stockists' network

44+ Countries that we Export

Rs. 1,073 Cr Market Cap (As on 31st Mar 2023)

Rs. 57 Cr PAT (For FY22-23)

Proven R&D expertise with Experienced

professionals - 14 PhDs, 349 Masters and 1,118 Others (as on 30th Sept 2022)

Strong long-standing partnerships with Global players for licensing its products across geographies

153 Total patents applied 37 Active applications 9 Patents granted Include - Platform technologies, Drug substances, Drug products & IP on Polymorphs

19% EBITDA; >15% ROCE in FY22-23 & trending upwards on back of strategic initiatives

Strong Balance sheet – Total Debt to Equity at 0.27 in FY22-23

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Business Segments

Formulations

APIs

3 Facilities

1 Formulations

Haridwar

2 Synthetic API’s

Vapi

Hyderabad

Contributes 64% of Total Revenue (FY22- 23)

Contributes 36% of Total Revenue (FY22-23)

Hospital business Centre of growth

Hospital Business of Total Revenue 33%

Other Businesses of Total Revenue 67%

Presence across Dosage Forms

Injectables

Tablets

Ointments

Integrated

Vertically Manufacturing Capabilities into APIs resulting in greater Control over manufacturing leading to Higher Efficiencies

13

Strong Business Model

Product Development (R&D)

03

01

n

02

Hospital Business

 Critical Care Division  Narcotics  Instuition Business  Exports

Trade Business

API Business

n

 API Legacy Business  Alternate Strategies Being Worked On

n

 Pharma Division  Ortho Division  Gynecology Division

Businesswise Revenue –FY22-23

Others 20%

Hospital 33%

API 36%

Trade 11%

Businesswise Revenue – FY21-22*

Others 15%

Hospital 41%

API 33%

Trade 11%

* Contains one-time Covid related export order

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Hospital Business – Major Growth Diver

n

Hospital Portfolio can Include…

Anti Infectives

Sterile Injectibles

Surgical Products

Anesthesia

Unique / Differentiated Products

New Opportunities…

Product Portfolio

Anesthesia

Intensive Care

Medical Devices

Nutrition

Oncology

Renal Care

Large Volume Parenteral

Current TML Portfolio 



To be Included











15

TML Presence across Hospital Business

n

Critical Care Division (CCD) and Narcotics

Institutions

Intensive Care

 11 years old  Good presence in hospital

business

 Stable team and Leadership  Addition of Narco products  Aiming to consolidate Nursing

Homes

 System to touch new Nursing

Homes is implemented

 305+ Sales force (248 B + 57 M)

 Proprietary TML

Formulations Key Molecules

 ESIC / States Formulary /

CGHS / PSU’s

 Autonomous Institutions

 West and South part of India to be fully operational from December 2022 – will extend launch All India in 3 to 6 months

 Dedicated Intensive care team

(33+ SFs)

 Covering Metros + A class

towns

 Full range of products

(including transferred to CCD)

16

API Segment – Overview & Strategy

Major Existing Products





Simvastatin - Largest selling API product for Company

Out of Total Production – API (FY22-23)

Fumagilline - Niche product

 Ketamine - DMF filings are planned in semi regulated

markets

Business Strategy for New Products

 Explore synergies for development

 New molecules to have global plans and not restricted

to in-house requirement

Domestic 2%

Exports 98%

17

Vertically Integrated State of Art Manufacturing Capabilities

Particulars

Location

Haridwar

Hyderabad

Themis Medicare Ltd.

Artemis Biotech (Division of Themis Medicare Ltd.)

Vapi

Themis Medicare Ltd.

Segment

Products

Formulations

Synthetic APIs

Synthetic APIs

Injections Tablets (incl. Rifampicin Tablet) Ointment/Cream /Gel,

Simvastatin (Ph. Eur. USP, JP, IP)

Artemether, Ferracrylum, Lumefantrine, Ketamine Hydrochloride, Rifapentine, Palanesetron, R&D Products, Centbutridine, Riluzole, Cisatracurium

Capacity (per annum)

Tablets (Nos.) - 520 mn 9 mn Ointment (No. of Tubes) - 36 mn Ampoules (No. of Amp) - 12 mn Vials (No. of Vials) - 6 mn Pre-filled Syringes (Nos.)-

120 MT

Regulatory Approvals

EU GMP Certificate – Tablets & Gels

EU GMP

191 MT

GMP

Photos

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Strong Research and Development Capabilities

Continued Investment in R&D (Rs. Cr.)

13.64

8.50

9.51

5.28

4.59

3.43

Business

Total Manpower

API

54

Formulations

12

R&D

29 (Incl. 5 PhD)

6 (Incl. 1 PhD)

Analytical Lab Development

Groups

15

5

6

3

Product in a year with documentation

5 – 8

20-24

FY17-18

FY18-19

FY19-20

FY20-21

FY21-22

FY22-23

Products in work rolling

3 – 5

31

19

Way Ahead

Key Growth Triggers

DISTRIBUTION NETWORK & RELATIONSHIPS

 Strong relationships with both private and Govt. hospitals & institutions

 Deep distribution network to cover Pan India with 4,000+ stockiest and growing

PRODUCT PIPELINE

 First to Launch opportunities  Complex generic Pipeline in development  Generics – target to launch 10 – 12

products per year

 NDDS – strive for 1 product launch every

year

INCREASE IN HEALTH INSURANCE COVERAGE

 India has increasing Middle Class with health insurance coverage  Coupled with rising burden of new

diseases

 Higher access to hospitals

HEALTHCARE DEMAND

STABLE TEAM

 Huge demand for hospital industry from global and domestic investor

 Increasing Govt. spending

(budgetary allocation) for Public health (2.5% of GDP BY 2025)

 Well experienced team with one decade

of experience for Hospital Business  Leadership is committed to business

goals and has identified focus areas for growth

21

Hospital Business Opportunity

n

Why Hospital Business Segment?  Growing market - Themis has strong foot in door through

Anesthesia

 Market Highly Fragmented unlike West where 3-4 players control

90% market share

High Entry Barriers  

Large Product Portfolio needed to service this segment Takes time to build relationship and reputation with key accounts

Opportunities Ahead  Focus on achieving Leadership position in India with Corporate Hospitals and Nursing Homes  With Expertise in Development of Complex Injectables - Company well placed to reap benefits

22

Our Aspirations

Strategy

 Focus on Hospital business  APIs to be developed - in-house consumption and commercial production

Growth

 CAGR of 35% over next 3 years  Maintain EBIDTA of over 25%

Vision & Position

 Provide hospitals and health systems ‘The Best Experience Leader business model” to ensure customer satisfaction

 Leadership in Anesthesia and Critical Care

New Target Markets

 Expansion in new RoW Markets in Phase I (0 to 3 years

- CIS, Latin America, GCC)

 Enter Regulated Markets in Phase II within 3 to 5 years

– EU, USA

23

Thank You

It takes one word

to change

the world “POSSIBILITY”

For further information, please contact:

Mr. Sangameshwar Iyer

Mr. Amit Sharma / Ms. Disha Shah Tel: +91 9867726686 / 9699060134

Themis Medicare Ltd Email: sangameshwar.iyer@themismedicare.com Website: www.themismedicare.com

Adfactors PR Pvt Ltd Email: amit.sharma@adfactorspr.com / disha.shah@adfactorspr.com Website : www.adfactorspr.com

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