Jubilant Pharmova Limited · NSE:JUBLPHARMA
Jubilant Pharmova — Q4 FY23 Earnings Presentation
45 slides from Jubilant Pharmova's earnings presentation, May 30, 2023
Slide 1: Exchange filing cover letter
~ J,UBIIANr PHARMOVA May 29, 2023 BSE Limited, National Stock Exchange of India Limited, Floor 25, P. J. Towers Exchange Plaza, 5th Floor, Dalal Street, Bandra-Kurla Complex, Mumbai - 400 001 Bandra (E), Mumbai – 400051 Scrip Code: 530019 Symbol: JUBLPHARMA Dear Sirs, Sub: Press Release Pursuant to
Slide 2: Press Release: Q4 & FY23 Results
JUBILANT PHARMOVA Jubilant Pharmova Limited 1A, Sector 16A, Noida – 201301, India Tel.: +91 120 4361000 PRESS RELEASE www.jubilantpharmova.com Noida, Monday, May 29, 2023 JUBILANT PHARMOVA – Q4 & FY23 RESULTS The Board of Jubilant Pharmova Limited met today to approve financial result for the quarte
Slide 3: Financial Results Overview FY23 - Consolidated
JUBILANT PHARMOVA Financial Results Overview FY23 - Consolidated (Rs Crs) Particulars FY22 FY23 Total Revenue from Operations 6,130 6282 Reported EBITDA 1,168 815 EBITDA Margin 19.0% 13.0% Impairment of Intangible Assets1 15 171 Exceptional Items 0 57 Profit Before Tax 630 28 Normalised Profit Befor
Slide 4: Key Ratios FY23 and Radiopharmaceuticals Highlights
JUBILANT PHARMOVA Key Ratios FY23 – Consolidated (Rs Crs) Particulars FY22 FY23 Net Debt (Constant Currency) 1,954 2,193 Net Debt to Equity 0.37 0.41 Net Debt to EBITDA 1.67 2.69 Net Working Capital 1,397 1,276 Financial Highlights – Radiopharmaceuticals (Rs Crs) Particulars Q4'FY22 Q3'FY23 Q4'FY23
Slide 5: Radiopharmacies and Allergy Immunotherapy Highlights
JUBILANT PHARMOVA Financial Highlights – Radiopharmacies (Rs Crs) Particulars Q4'FY22 Q3'FY23 Q4'FY23 FY22 FY23 Revenue 342 400 475 1,303 1,681 % of Company 22% 26% 28% 21% 27% Revenue EBITDA (26) (45) (4) (131) (87) EBITDA Margin (%) (7.6%) (11.2%) (0.9%) (10.1%) (5.1%) Key Priorities – Radiopharma
Slide 6: Allergy Immunotherapy Priorities and CDMO Sterile Injectables
JUBILANT PHARMOVA Key Priorities – Allergy Immunotherapy #2 player in US Sub-Cutaneous Immunotherapy market (Venom and Non-Venom) of >$200M. High barriers to entry as products are branded biologicals with regulatory approvals grandfathered in Further strengthen the prescriber base for Venom immu
Slide 7: Financial Highlights – Generics
JUBILANT PHARMOVA Financial Highlights – Generics (Rs Crs) Particulars Q4'FY22 Q3'FY23 Q4'FY23 FY22 FY23 Revenue 221 223 199 1,157 762 % of Company 14% 14% 12% 19% 12% Revenue EBITDA (24) (36) (39) (57) (230) EBITDA Margin % (11.1%) (16.2%) (19.6%) (4.9%) (30.3%) Adjusted Revenue 216 191 199 892 733
Slide 8: Financial Highlights – Drug Discovery Services
~ . JUBILANT PHARMOVA Financial Highlights – Drug Discovery Services (Rs Crs) Particulars Q4'FY22 Q3'FY23 Q4'FY23 FY22 FY23 Revenue 142 123 131 457 522 % of Company 9% 8% 8% 7% 8% Revenue EBITDA 53 37 35 169 164 EBITDA Margin 37.6% 29.8% 26.3% 37.0% 31.5% Key Priorities – Drug Discovery Services L
Slide 9: Financial Highlights – CDMO - API
JUBILANT PHARMOVA Financial Highlights – CDMO - API (Rs Crs) Particulars Q4'FY22 Q3'FY23 Q4'FY23 FY22 FY23 Revenue 176 168 163 548 662 % of Company 12% 11% 10% 9% 11% Revenue EBITDA 20 2 12 61 35 EBITDA Margin (%) 11.2% 1.4% 7.3% 11.2% 5.3% Key Priorities – CDMO - API In March 2023, the API plant
Slide 10: Segment Financial Results - Consolidated
JUBILANT PHARMOVA Segment Financial Results - Consolidated (Rs Crs) Segment Revenue Q4'FY22 Q3'FY23 Q4'FY23 FY22 FY23 1.Radiopharma 566 613 689 2,123 2,552 Radiopharmaceuticals 224 213 215 820 872 Radiopharmacies 342 400 475 1,303 1,681 2. Allergy Immunotherapy 129 147 170 489 603 3. CDMO Sterile In
Slide 11: For more information, please contact
JUBILANT PHARMOVA For more information, please contact: For Investors Vineet V Mayer Siddharth Rangnekar |Mit Shah Ph: +91 120 436 1103 CDR India E-mail: [email protected] Ph: +91 97699 19966 / 99201 68314 E-mail: [email protected] [email protected] For Media Sudhakar Safaya Clayton Dsouza
Slide 12: Financial Results Quarter and Full Year Ended March 31, 2023
.. J,UBIIANT PHARMOVA Financial Results Quarter and Full Year Ended March 31, 2023 May 2023
Slide 13: Disclaimer
WlJ Disclaimer f.UBII.ANT PHARMOVA Statements in this document relating to future status, events, or circumstances, including but not limited to statements about plans and objectives, the progress and results of research and development, potential product characteristics and uses, product sales pote
Slide 14: Jubilant Pharmova is uniquely positioned to create sustained Shareholder Value
Jubilant Pharmova is uniquely positioned to create WI J,UBIIANT PHARMOVA sustained Shareholder Value An integrated global Over 5,700 people globally, 6 manufacturing facilities Strong position in Radio- pharmaceuticals and contract including over 2,100 in catering to regulated markets pharmaceutical
Slide 15: H2'FY23 highlights
H2’FY 23 highlights WlJ f.UBII.ANT PHARMOVA Revenue growth in majority businesses driven by strong sales capabilities and differentiated product offerings USFDA approval of Mertiatide and Ruby Fill Mobile for Radiopharma businesses. Continued investment to further strengthen our innovation pipel
Slide 16: Business Structure
WI Business Structure J,UBIIANT PHARMOVA Jubilant Pharmova Limited CDMO Sterile Allergy Proprietary Radiopharma CRDMO Generics Injectables Immunotherapy Novel Drugs Radiopharmaceuticals Radiopharmacies Drug Discovery CDMO - API Services 4
Slide 17: FY23 – Segment Wise Revenue Split
FY23 – Segment Wise WI J,UBIIANT PHARMOVA Revenue Split Allergy Immunotherapy 10% Generics Radiopharma 12% 41% CDMO Sterile Injectables 18% CRDMO 19% 5
Slide 18: Business Snapshot
WI Business Snapshot J,UBIIANT PHARMOVA r r r • #3 radiopharmaceutical • Leading contract manufacturer • Manufacturing facilities at Roorkee, • Manufacturing facility at manufacturer in the US for Sterile Injectibles India and Salisbury, US Nanjangud, India • Manufacturing facility • Differentiated
Slide 19: High-Quality, World-Class Manufacturing Footprint and Operational Facilities
High-Quality, World-Class Manufacturing WI J,PHARMOVA UBIIANT Footprint and Operational Facilities Biosys Gr. Noida Facility Spokane, Washington, USA Contract manufacturing of Sterile injectable and Allergy therapy ~ ................................. Roorkee, Uttarakhand Generics manufacturing ·
Slide 20: Financial Highlights Q4 & FY'23
~ J,UBIIANT PHARMOVA Financial Highlights Q4 & FY’23 Jubilant Pharmova Limited
Slide 21: Financial Results Overview Q4'FY23 - Consolidated
WI Financial Results J,UBIIANT PHARMOVA Overview Q4’FY23 Figures in Rs Crs - Consolidated Particulars Q4'FY22 Q3'FY23 Q4'FY23 Total Revenue from Operations 1,528 1,553 1,678 Reported EBITDA 244 155 224 EBITDA Margin 16.0% 10.0% 13.3% Impairment of Intangible Assets1 6 0 171 Profit Before Tax 106 9 (
Slide 22: Financial Results Overview FY23 - Consolidated
WI Financial Results J,UBIIANT PHARMOVA Overview FY23 Figures in Rs Crs Particulars FY22 FY23 - Consolidated Total Revenue from Operations 6,130 6282 Reported EBITDA 1,168 815 EBITDA Margin 19.0% 13.0% Impairment of Intangible Assets1 15 171 Exceptional Items 0 57 Profit Before Tax 630 28 Normalised
Slide 23: Q4 & FY23 - Adjusted Financials
WI Q4 & FY23 J,UBIIANT PHARMOVA - Adjusted Financials Figures in Rs Crs Particulars Q4'FY23 I Q3'FY24 I Q4'FY24 FY22 I FY23 Total Revenue from Operations 1,528 1,553 1,678 6,130 6,282 Reported EBITDA 244 155 224 1,168 815 EBITDA Margin 16.0% 10.0% 13.3% 19.0% 13.0% Adjusted Revenue 1,512 1,521 1,678
Slide 24: Key Ratios FY23 - Consolidated
WI Key Ratios FY23 J,UBIIANT PHARMOVA - Consolidated Figures in Rs Crs Particulars FY22 FY23 Net Debt (Constant Currency) 1,954 2,193 Net Debt to Equity 0.37 0.41 Net Debt to EBITDA 1.67 2.69 Net Working Capital 1,397 1,276 12
Slide 25: Financial Highlights Radiopharmaceuticals
WI Financial Highlights J,UBIIANT PHARMOVA Radiopharmaceuticals Figures in Rs Crs Particulars Q4'FY22 Q3'FY23 Q4'FY23 FY22 FY23 Revenue 224 213 215 820 872 % of Company 15% 14% 13% 13% 14% Revenue EBITDA 139 109 100 436 465 EBITDA Margin (%) 62.1% 51.0% 46.6% 53.2% 53.3% 13
Slide 26: Key Priorities Radiopharmaceuticals
WI Key Priorities J,UBIIANT PHARMOVA Radiopharmaceuticals • Maintain leadership position in stable high margin core portfolio in North America, e.g., lung functional imaging and thyroid targeted radiotherapeutics • Innovation leader in PET cardiac imaging through proprietary RUBY-FILL (best in class
Slide 27: Financial Highlights Radiopharmacies
WI Financial Highlights J,UBIIANT PHARMOVA Radiopharmacies Figures in Rs Crs Particulars Q4'FY22 Q3'FY23 Q4'FY23 FY22 FY23 Revenue 342 400 475 1,303 1,681 % of Company 22% 26% 28% 21% 27% Revenue EBITDA (26) (45) (4) (131) (87) EBITDA Margin (%) (7.6%) (11.2%) (0.9%) (10.1%) (5.1%) 15
Slide 28: Key Priorities Radiopharmacies
WlJ Key Priorities f.UBII.ANT PHARMOVA Radiopharmacies • Accelerate sales of high growth new products, e.g., Ga-PSMA, and to further gain market share in existing SPECT products • Maintain current momentum of strong growth in merchant sales • Leverage existing cyclotrons to capture share of PET prod
Slide 29: Financial Highlights Allergy Immunotherapy
WI Financial Highlights J,UBIIANT PHARMOVA Allergy Immunotherapy Figures in Rs Crs Particulars Q4'FY22 Q3'FY23 Q4'FY23 FY22 FY23 Revenue 129 147 170 489 603 % of Company 8% 9% 10% 8% 10% Revenue EBITDA 36 53 55 164 206 EBITDA Margin (%) 27.8% 36.3% 32.6% 33.5% 34.1% 17
Slide 30: Key Priorities Allergy Immunotherapy
WlJ Key Priorities f.UBII.ANT PHARMOVA Allergy Immunotherapy • #2 player in US Sub-Cutaneous Immunotherapy market (Venom and Non-Venom) of >$200M. High barriers to entry as products are branded biologicals with regulatory approvals grandfathered in • Further strengthen the prescriber base for Venom
Slide 31: Financial Highlights CDMO Sterile Injectables
WI Financial Highlights J,UBIIANT PHARMOVA CDMO Sterile Injectables Figures in Rs Crs Particulars Q4'FY22 Q3'FY23 Q4'FY23 FY22 FY23 Revenue 288 272 321 1,334 1,155 % of Company 19% 17% 19% 22% 18% Revenue EBITDA 78 56 86 613 345 EBITDA Margin (%) 27.3% 20.7% 26.7% 46.0% 29.9% Adjusted Revenue 276 27
Slide 32: Key Priorities CDMO Sterile Injectables
WlJ Key Priorities f.UBII.ANT PHARMOVA CDMO Sterile Injectables • Global Fill and Finish Sterile Injectable markets of USD 13Bn, with double digit growth rate projected over next 5 years • Focus is on-time and at-cost execution of USD 370Mn capacity expansion in Spokane and Montreal, to double the C
Slide 33: Financial Highlights Generics
WI Financial Highlights J,UBIIANT PHARMOVA Generics Figures in Rs Crs Particulars Q4'FY22 Q3'FY23 Q4'FY23 FY22 FY23 Revenue 221 223 199 1,157 762 % of Company 14% 14% 12% 19% 12% Revenue EBITDA (24) (36) (39) (57) (230) EBITDA Margin % (11.1%) (16.2%) (19.6%) (4.9%) (30.3%) Adjusted Revenue 216 191
Slide 34: Key Priorities Generics
WlJ Key Priorities f.UBII.ANT PHARMOVA Generics • Continue quality improvement initiatives and engagement with the US FDA for resolution of Import Alert at the Roorkee facility. • Salisbury site is compliant with US FDA. Roorkee site is compliant with other key non-US markets, e.g., MHRA, Japan, Sou
Slide 35: Financial Highlights Drug Discovery Services
WI Financial Highlights J,UBIIANT PHARMOVA Drug Discovery Services Figures in Rs Crs Particulars Q4'FY22 Q3'FY23 Q4'FY23 FY22 FY23 Revenue 142 123 131 457 522 % of Company 9% 8% 8% 7% 8% Revenue EBITDA 53 37 35 169 164 EBITDA Margin 37.6% 29.8% 26.3% 37.0% 31.5% 23
Slide 36: Key Priorities Drug Discovery Services
WI Key Priorities J,UBIIANT PHARMOVA Drug Discovery Services • Leverage state of the art infrastructure and differentiated technical know-how, e.g., Integrated Drug Discovery, DMPK to drive new customer acquisitions in drug discovery. • Continue to invest in capabilities for improving productivity,
Slide 37: Financial Highlights CDMO - API
WI Financial Highlights J,UBIIANT PHARMOVA CDMO - API Figures in Rs Crs Particulars Q4'FY22 Q3'FY23 Q4'FY23 FY22 FY23 Revenue 176 168 163 548 662 % of Company 12% 11% 10% 9% 11% Revenue EBITDA 20 2 12 61 35 EBITDA Margin (%) 11.2% 1.4% 7.3% 11.2% 5.3% VAI : Voluntary Action Indicated 25
Slide 38: Key Priorities CDMO - API
WI Key Priorities J,UBIIANT PHARMOVA CDMO - API • In March 2023, the API plant at Nanjangud saw reversal of OAI status to compliant VAI status from USFDA, driven by Quality Improvement Initiatives at site. • Going forward, focus is to drive higher capacity utilization including through launch of new
Slide 39: Financial Highlights Proprietary Novel Drugs
WI Financial Highlights J,UBIIANT PHARMOVA Proprietary Novel Drugs Figures in Rs Crs Particulars Q4'FY22 Q3'FY23 Q4'FY23 FY22 FY23 Total Revenue - - - 2 4 EBITDA -12 -8 -10 -35 -35 27
Slide 40: Key Highlights & Priorities Proprietary Novel Drugs
WlJ Key Highlights & Priorities f.UBII.ANT PHARMOVA Proprietary Novel Drugs • Clinical stage precision therapeutics business advancing potent and selective small molecules to address unmet medical needs in oncology and autoimmune diseases • Wholly owned assets; opportunities to explore institutional
Slide 41: Business Enablers
WI Business Enablers J,UBIIANT PHARMOVA Jubilant Pharmova Limited 29
Slide 42: Sustainability continues to be an important focus area for us
WI Sustainability continues to be an important focus area for us J,UBIIANT PHARMOVA I ,,-----------------------------------------@ ,,---------------------------------------- . I ,,---------------------------------------- . I <;> S&P Global <,) ec·ovadis Dow Jones Sust a i na bil ity Ind exe s iii19H
Slide 43: Annexure
WI J,UBIIANT PHARMOVA Annexure Jubilant Pharmova Limited
Slide 44: Segment Financial Results Overview | Consolidated
Segment Financial Results Overview | Consolidated Figures in Rs Crs WI J,UBIIANT PHARMOVA Segment Revenue Q4'FY22 Q3'FY23 Q4'FY23 FY22 FY23 1.Radiopharma 566 613 689 2,123 2,552 Radiopharmaceuticals 224 213 215 820 872 Radiopharmacies 342 400 475 1,303 1,681 2. Allergy Immunotherapy 129 147 170 489
Slide 45: For more information
WI For more information J,UBIIANT PHARMOVA For Investors: Vineet V Mayer Siddharth Rangnekar Jubilant Pharmova Limited CDR India Ph: +91 120 436 1103 Ph: +91 +91 9769919966 E-mail: [email protected] E-mail: [email protected] For Media: Sudhakar Safaya Clayton Dsouza Ph: +91 120 436 1062 Ma