...·* *.
*
.
• • .,-..-9E,1
/lO~EPEH
Date: 29/07/2022
To,
National Stock Exchange of India Ltd. BSE Limited
Exchange Plaza, Bandra Kurla Complex, Floor 25, Phiroze Jeejeebhoy Towers,
Bandra (East), Mumbai- 400 051 Dalal Street, Mumbai- 400 001
Symbol: MOREPENLAB Scrip Code: 500288
Subject: Investors Presentation (Q1’FY23) July, 2022
Dear Sir/Ma’am,
Please find enclosed the Investors Presentation (Q1’FY23) July, 2022, based on the financial
performance of the company for the quarter ended 30th June, 2022.
Kindly take it on your record.
Thanking you.
Yours faithfully,
For Morepen Laboratories Limited
Vipul Kumar Srivastava
Company Secretary
Encl.: As Above
Morepen Laboratories Limited
CIN No: L24231 HP1984PLC006028
Corp. Off.: 2nd Floor, Tower C, DLF Cyber Park, Udyog Vihar-III, Sector 20, Gurugram, Haryana-122016, INDIA
Tel.: +91 124 4892000, E-mail: corporate@morepen.com, Website: www.morepen.com
Regd. Off.: Morepen Village, Malkumajra, Nalagarh Road, Baddi, Distt. Solan (H.P.) -173205, INDIA
Tel.: +91-1795-266401-03, 244590, Fax: +91-1795-244591, E-mail: plants@morepen.com
MOREPEN
LABORATORIES LIMITED
Q1'FY23
earnings Presentation - jul 2022
Disclaimer/ Confidentiality
This presentation has been prepared by Morepen Laboratories Limited (“Company”) solely for information purposes without regard
to any specific objectives, financial situations or informational needs of any particular person. This presentation contains expressed
or implied forward looking statements, including discussions of our future plans, strategy, research and deployment activities and
products in pipeline. Such forward looking statements reflect current views of the Company or its subsidiaries regarding future
events, and involve known or unknown risks, uncertainties and other factors that may cause actual results to be different from any
future results expressed or implied by such statements.
This presentation has been prepared by the Company based on information an 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. All actions and statements made herein
or otherwise shall be subject to the applicable laws and regulations as amended from time to time. 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. The Company is providing the information in this presentation as of
date and does not undertake any obligation as to the regular updating of the information as a result of new information, future
events or otherwise.
The contents of this presentation are confidential and should not be distributed, published or reproduced, in whole or part, or
disclosed by recipients, either directly or indirectly, to any other person. It is advised that prior to acting upon this presentation
3oym~Jo/" independent consultation / advice may be obtained and necessary due diligence, investigations, etc. may be conducted at the end
witup lbN of the recipient.
This presentation does not constitute or form part of and should not be construed, either directly or indirectly, as any offer or
invitation or inducement to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities of the Company
by any person in any jurisdiction. This presentation is not a prospectus, a statement in lieu of a prospectus, an offering circular, an
advertisement or an offer document under the Companies Act, 2013, the Securities and Exchange Board of India (Issue of Capital
and Disclosure Requirements) Regulations, 2009, as amended, or any other applicable law in India.
This presentation contain confidential data and information about the company historical performance and future business plan
strategy and the any reader/user can not copy, circuculate or use disclose the said information or part of it to anyone without prior
written permission of the Company. Any unauthorised use of the data will attract legal action against the person.
.
CONSOLIDATED
QUARTERLY HIGHLIGHTS
DEBT FREE COMPANY
• Business is consolidating after Covid pandemic disturbance
• The company had long standing liability of and expected to stabilise over next 2-3 quarters.
114.65 cr. as outstanding preference
capital issued to the Banks/FI's in the • Against peak Covid quarterly revenue of Q1'FY22, the
2003/2004 revenues for the current quarter, Q1'FY23, is down by 22%
• During the quarter the company has • Current quarterly revenue of Rs. 303 Cr., is up 50% from pre-
converted the outstanding preference Covid revenues of Q1'FY20 of Rs. 203 Cr.
capital in to 2.13 cr. Equity Shares of the
Company • On a long term basis (ignoring the Covid peaks) business has
grown consistently at CAGR of 14% from Q1'FY20-Q1FY23
• This was the last leg of CDR and the
company now has no payment obligations • Muted demand, lower price recovery, higher input costs has
to Banks/FI's and is a Debt Free Company impacted the profit margins for last two quarters and the recent
Rupee depreciation is adding additional burden on the costs.
• High inventory levels maintained for some Covid products are
expected to be realised slowly in coming quarters
JlOREPEN
CONSOLIDATED
quarterly performance
CONSOLIDATED
REVENUE GROWTH
26% CAGR Rs. in crores
2,000
^30% 14% CAGR
1557
1,500
400
1200
388
388.31
1,000 300
863
772 303 up 50% from
259 pre-covid level
500
200
203
100
0
FY'19 FY'20 FY'21 FY'22
0
Q1'FY20 Q1'FY21 Q1'FY22 Q1'FY23
Annual performance
Q1'FY23 performance
JlOREPEN
CONSOLIDATED
BUSINESS SEGMENTS
API BUSINESS MEDICAL DEVICES
FORMULATIONS OTC (SUBSIDIARY)
CONSOLIDATED
SEGMENTS WISE PERFORMANCE
API DIAGNOSTICS FORMULATIONS DR.MOREPEN -OTC
-20% -42% ^13% ^22%
200 150
50 30
189.97
150 134.46 28.85
40 44.91
151.29 100
39.90 20 23.65
100 30
50 77.71 20
50 10
10
0 0
Q1'FY22 Q1'FY23 Q1'FY22 Q1'FY23 0 0
Q1'FY22 Q1'FY23 Q1'FY22 Q1'FY23
NOTE: comparison for the current quarter are against peak Covid demand in first quarter of last year (second wave)
STANDALONE
SEGMENT WISE BREAKUP
Formulations share q1 FY'22 q1'FY23
16.4%
API 3.10% f
52.1% 55.2%
API
55.2%
Diagnostic Devices
28.4%
Diagnostics 8.50%
36.9% 28.4%
revenue split Q1'FY'23
formulations 5.40% f
11.0% 16.4%
API BUSINESS
leadership through quality
api business
API REVENUE
28% CAGR Rs. in crores
1,000 ^26%
858
CAGR 10%
750
200
683 189.97
500
150 162.06 up 35% from
151.28
474
413 pre-covid level
100 112.42
250
50
0
FY'19 FY'20 FY'21 FY'22
0
Q1'FY20 Q1'FY21 Q1'FY22 Q1'FY23
Annual performance
Q1'FY23 performance
api business
KEY API PRODUCTS
LORATADINE MONTELUKAST
-23% -32%
ATORVASTATIN NEW MOLECULES
^1% ^5%
J\\OREPEN
----
---
I
I
I
I
I
I
I
I
I
POC MEDICAL DEVICES
market leadership
< )
r )
.,
\
POC medical devices
POC REVENUE
44% CAGR Rs. in crores
500
^46%
400
CAGR 19%
419
150
300 134.46
287
100
200
168 77.71
140 up 94% from
100
50 pre-covid level
46.56
40.03
0
FY'19 FY'20 FY'21 FY'22
0
Q1'FY20 Q1'FY21 Q1'FY22 Q1'FY23
Annual performance
Q1'FY23 performance
JlOREPEN
POC medical devices
GLUCO METER REVENUE
44% CAGR Rs. in crores
300 ^55%
279 CAGR 25%
200 100
180
75 84.47
100 120
63.41
93 50 up 93% from
pre-covid level
0
25 32.78
FY'19 FY'20 FY'21 FY'22 25.44
0
Annual performance Q1'FY20 Q1'FY21 Q1'FY22 Q1'FY23
Q1'FY23 performance
POC medical devices
GLUCO METER INSTALLED
41% CAGR
2.5
2
^28%
2.167
^16% -21%
1.5 1.692
7.91 MILLION 976 MILLION
1 meters installed strips sold so far
0.979
0.774
0.5
q1'Fy23 0.71 MILLION q1'Fy23 68 MILLION
0
FY'19 FY'20 FY'21 FY'22
million meter installed
POC medical devices
BP MONITOR REVENUE
47% CAGR Rs. in crores
100
^33%
75 84
CAGR 40%
25
63
50
20
20.58
15
25 29
27
10 12.83
175% growth from
5 7.33 pre-covid level
0
FY'19 FY'20 FY'21 FY'22 4.67
0
Q1'FY20 Q1'FY21 Q1'FY22 Q1'FY23
Annual performance
Q1'FY23 performance
POC medical devices
OTHER PRODUCTS
40% CAGR Rs. in crores
60 ^27%
56
40 44 30
29.40
20
20
20
20
10 13.79
0
FY'19 FY'20 FY'21 FY'22
2.58 1.46
0
Q1'FY20 Q1'FY21 Q1'FY22 Q1'FY23
Annual performance
Q1'FY23 performance
Q1'FY22 revenues include sales of Covid products like thermometers,
oxygen concentrator & pulse oximeters of rs. 21.71 crores.
FORMULATIONS
brandeD formulations in india
FORMULATIONS
FORMULATIONS REVENUE
3% CAGR Rs. in crores
200 ^29%
150
169 CAGR 9.5%
153
50
138
131 39.90
100 40 44.91 up 31% from
39.89 pre-covid level
30 34.25
30.65
50
20
10
0
FY'19 FY'20 FY'21 FY'22
0
Q1'FY21 Q1'FY21 Q1'FY22 Q1'FY23
Annual performance
Q1'FY23 performance
JlOREPEN
FORMULATIONS
GROWTH DRIVERS
^4% ^37%
antibiotics vitamins
^4% ^26%
gastro others
J\\OREPEN
OTC & nutrition
GROSS REVENUE
20% CAGR Rs. in crores
125
^23%
100 106 CAGR 27 %
75 86 30
65
28.85
50 55
20 23.65
21.69 up 104% from
25
pre-covid level
14.16
10
0
FY'19 FY'20 FY'21 FY'22
0
Annual performance Q1'FY20 Q1'FY21 Q1'FY22 Q1'FY23
Q1'FY23 performance
JlOREPEN
GROWTH DRIVERS
^10% ^148%
OTC products* grooming
-18% 145%
general health 0nline Sales
Excluding covid range*
BRAND PORTFOLIO
an established national household
brand with extensive reach and trust
25% CAGR Rs. in crores
^36%
750
685
CAGR 23%
500
504 200
OTC
Rx 195.85
15.4%
371 23.4%
347 150 165.60
250
up 86% from
100 pre-covid level
102.07
88.84
0 50
FY'19 FY'20 FY'21 FY'22
Devices 0
Annual performance 61.2% Q1'FY20 Q1'FY21 Q1'FY22 Q1'FY23
FY'22
Q1'FY23 performance
JlOREPEN
consolidated
R&D SPEND
increasing investment in R&D
Rs. in crores
Devices
12.5%
^ 70%
3
API
48.1% 2.76
2
ANDA
39.4%
1.62
1
0
segment wise spend Q1'FY22 Q1'FY23
Q1'FY23 SPEND
*Includes R&D/ARD/QC team
FINANCIAL
highlights & ratios
CONSOLIDATED
REVENUE HIGHLIGHTS
net revenue EBIDTA PROFIT BEFORE TAX PROFIT AFTER TAX
-22% -66% - 78% - 82%
50 40
400 40
388.31 40 45.43 38.53
300 30 30
303.31 30 30.47
200 20 20
20
100 10 15.46 10 10
8.31 5.63
0 0 0
0 Q1'FY22 Q1'FY23 Q1'FY22 Q1'FY23 Q1'FY22 Q1'FY23
Q1'FY22 Q1'FY23
NOTE: muted demand, lower sales, lower price recovery, higher input costs and rupee depreciation has resulted in significant
lower profit margins for the q1'FY23, both in API and medical devices business as compared to Q1'FY22 (covid period)
J\\OREPEN
f'
Thank you
love heals
