Senores Pharmaceuticals Limited – Investor Presentation Summary

Key Operational Highlights

  • Consistently delivering robust performance with Revenues for Q1FY27 growing by 36% Y-o-Y.
  • Strong revenue growth delivered in Regulated markets (42% Y-o-Y) and Emerging markets (30% Y-o-Y).
  • Robust addition in approved and pipeline products providing high growth visibility.
  • Steady focus on manufacturing & cost efficiency enabling sustainable margin growth & expansion.
  • Robust & diversified business model supported by Strong & Experienced management team.

Key drivers of operational performance: Strong performance in regulated markets, manufacturing and cost efficiency, expanded product portfolio.

Segment-wise Performance

  • Regulated Markets - EBIDTA Margin for Q1 FY27 stood at ~40%. Regulated Markets contributed to 71% of total revenue in Q1FY27.
  • Emerging Markets - EBIDTA Margin for Q1 FY27 stood at ~14%. Emerging Markets contributed 21% of total revenue in Q1FY27.

Explanation of significant changes in segment performance: Regulated markets showed strongest growth driven by expanded ANDA portfolio and commercialization.

Financial Highlights

Revenue: ₹180.2 Cr

EBITDA: ₹53.8 Cr

PAT: ₹30.4 Cr

PAT after Minority Interest: ₹30.7 Cr

Margins: Gross Margin 63.5%, EBITDA Margin 29.8%, PAT Margin 16.9%, PAT Margin after Minority Interest 17.0%

YoY/QoQ comparison: Revenue growth 35.9% YoY, EBITDA growth 87.0% YoY, PAT growth 43.7% YoY, PAT after Minority Interest growth 55.6% YoY

Drivers of financial performance: Higher revenue growth, margin expansion of 980 bps in gross margin and 810 bps in EBITDA margin, operational efficiencies.

Key Risks: Not Specified

Geographical Revenue Split

Domestic vs Export/Regional Revenue: Not Specified

Regional Breakdown: Not Specified

Balance Sheet Snapshot

Net Debt/Equity: Not Specified

Reserves: Not Specified

Current Assets/Liabilities: Not Specified

Working Capital/Leverage Metrics: Not Specified

Financial Health Insights: Not Specified

Capex & Cash Flow Health

Capital Expenditure: Not Specified

Free Cash Flow: Not Specified

Operating Cash Flow: Not Specified

Net Debt Movement: Not Specified

Investment Rationale: Funding capital expenditure requirements for setting up manufacturing facility for sterile injections in Atlanta Facility

Strategic & R&D Initiatives

Investments in Innovation: Focus on identification, development and manufacturing of diverse range of specialty, underpenetrated & complex pharmaceutical products

Expected impact on growth: 35 ANDAs with corresponding 136 ANDA products to be launched with target share of USD 740 mn+ (gross)

Strategic Rationale: Expanding into high-growth regulated markets, reducing operational costs through manufacturing efficiency

Industry Trends & Business Environment

Macro/Industry Trends: Pharmaceutical companies increasingly favor partnering with one-stop-shop solution providers that seamlessly integrate both development and manufacturing services

Impact on Company: Company positioned as CDMO/CMO partner with contracts for more than 40 products in US, Canada, UK, South Africa, UAE, Israel, Denmark, Saudi Arabia & Vietnam

Management Commentary & Growth Outlook

Strategic Outlook: Focus on developing & manufacturing pharmaceutical products predominantly for Regulated Markets across various therapeutic areas

FY Guidance: Not Specified

Market Share Targets: Not Specified

Risks and Opportunities: Not Specified

Update on Utilization of Funds from IPO

  • Investment in Havix for manufacturing facility: ₹107.0 Cr proposed, ₹6.98 Cr utilized, ₹100.0 Cr unutilized
  • Repayment of company borrowings: ₹73.1 Cr proposed, ₹73.1 Cr utilized, ₹0.0 Cr unutilized
  • Investment in Havix for debt repayment: ₹20.2 Cr proposed, ₹20.2 Cr utilized, ₹0.0 Cr unutilized
  • Working capital requirements: ₹43.3 Cr proposed, ₹43.26 Cr utilized, ₹0.0 Cr unutilized
  • Investment in subsidiaries for working capital: ₹59.5 Cr proposed, ₹59.48 Cr utilized, ₹0.0 Cr unutilized
  • Inorganic growth and strategic initiatives: ₹161.9 Cr proposed, ₹161.63 Cr utilized, ₹0.3 Cr unutilized
  • Offer expenses: ₹35.0 Cr proposed, ₹34.8 Cr utilized, ₹0.2 Cr unutilized

Total: ₹500.0 Cr proposed, ₹399.5 Cr utilized, ₹100.5 Cr unutilized

Manufacturing Facilities

  • 1 USFDA approved Formulation facility in Atlanta, US
  • 2 Formulation facilities in Gujarat, India (1 USFDA approved)
  • 2 API manufacturing facilities in Gujarat, India
  • Apnar Pharma Plant: USFDA approved (September 2022), ~49,250 Sq. Mts land, 5 ANDAs/15 Strengths approved
  • API Plants: 15,134 sq. ft. and 230,000 sq. ft. land, 17+ products commercialized, 5+ products in development

Product Portfolio

  • 58 Approved ANDAs with 187 corresponding ANDA products
  • 23 Commercialized ANDAs with 51 strengths
  • 35 ANDAs yet to launch with 136 corresponding ANDA products
  • 39 ANDAs under pipeline with 119 unique strengths