Vivimed Labs Ltd / Active e Pharma a Brande nded Speci cialt alty Ingred edien ent Formulat ations ns Chemical cals Investor Presentation June 2018 1 1
Safe Harbor / This presentation and the accompanying slides (the “Presentation”), which have been prepared by Vivimed Labs 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 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, 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. 2
Consolidated Performance Highlights / Revenue EBITDA Net Profit 1,258.1 246.2 85.2 1,185.7 75.4 211.3 FY17* FY18 FY17* FY18 FY17* FY18 ▪ Price pressure on some of the key raw material being sourced from China, have shown an unreasonable increase, thereby negatively impacting our margins in the API business ▪ Spill over of the certain volumes of the CDMO business to subsequent quarters 3 *Normalized for one time gain from sale to Klarsen and Clariant Figures in Rs. Crores, as per IndAS
Segmental Information / 14.3% 10.5% 46.1% 31.1% 451.5 1010.4 985.3 Revenue Specialty Pharmaceuticals Chemicals 200.3 FY17 FY18 FY17 FY18 EBIT Margins% Sp Specia ialt lty Che Chemic icals ls: 1. The FY17 figures also include the sales from the segments which were divested to Clariant ( India) Ltd. while the FY18 figures are of the segment as it exists today 2. The Hair dyes segment has witnessed a 17.2% % Y-O-Y Y gr growt wth while the Photochromics segment has witnessed 37.0% % Y-O-Y Y gr growt wth, in GBP terms Pha harmaceutic icals ls: 1. The FDF segment of the Pharma in FY17 had included sales of business divested to Klarrsen, while the FY18 results are of the residual segment 2. The drop in margins is a result of a considerable increase in prices of some key raw materials being sourced from China 3. Company’s strong track record of regulatory compliance has provided a competitive edge. It has been a differentiator for both the CDMO & Generic businesses and helped drive the sales and the order book 4 Figures in Rs. Crores, as per IndAS
Reducing Debt in the Company / Debt (in Rs. Crs) -229 1,006 926 777 Mar-17 Sep-17 Mar-18 Vivimed has been focused towards debt reduction and reducing the cost of funds # Consolidated Figures, as per IND AS 5
Soneas Acquisition: To broaden UQUIFA’s offering in CDMO / About ‘SONEAS’ Value Proposition • Leading Central European custom and contract developer and manufacturer of fine chemicals for the pharma and other industries based in Budapest, Hungary • Broadens UQUIFA’s market offering in the CDMO space by enhancing its ability to now undertake preclinical Phase I, • Company has a high level of competency in NCE development as well as II and III NCE project development new technologies such as metal catalysis and heterocyclic chemistry • The above projects can also feed into UQUIFA’s existing • Has capabilities for varied end usages which includes Neurology, cGMP inspected and approved manufacturing facilities in Dermatology, Methasis Catalysts, Synthetic Hormones and others Spain and Mexico, creating a high-value project pipeline • Soneas brings both cGMP pilot plant and over 180 KL of key starting material (KSM) cGMP capacities to the UQUIFA portfolio Services Total Capacity • Acquisition of Soneas will allow it to expand faster into the Process Development Rapid Scale up development of API’s CDMO sector, which accounts for 40% of the UQUIFA sales 7 labs, 20 chemists + and their Intermediates support (Soneas Research) Custom contract manufacturing of 4.4 m3 reactor capacity cGMP API’s and their intermediates (lab to pilot plant scales) Large-scale non-cGMP Contract manufacturing of API Contract Manufacturing intermediates and fine chemicals 200 m3 reactor capacity (Commercial Scale) (Soneas Chemicals) 6
Business on a Growth Track / Formulations API Specialty Chemicals • Joint Venture agreement with M/s • Acquisition of Soneas, to broaden • Demand in the Basic and Oxidatives Strides Shasun Ltd, to ensure full UQUIFA’s offering in CDMO dyes, showing a marked increase utilization of Alathur Plant. Expect, the JV • Orbimed Asia III Mauritius Limited has • Photochromics continues to be on its contribution to flow in from FY19 invested USD 50mn. The funds are being growth path in the Optical segment. It onwards utilized for the purpose of: has found applications in other segments • Successful registration of 8 products in as well • Investment in API business for anti viral, pain management and cough Capacity Augmentation and • Moving towards a Joint venture with a suppressants segment, post certification Organic Growth Japanese company for a photochromic by Ukraine FDA for unit 1 located in molecule for applications in Optical • Generics Segment is introducing new Hyderabad segment products in the coming years, and the • Distribution agreement with ‘Alter Ego right balance between API products and • Other Chemicals continue to grow at a LLC’, for distributing its products in CDMO operations is being maintained steady pace Ukraine, Russia and other CIS regions. Expects revenue upwards of 10million USD in FY19 7
Vivimed Labs at a Glance / Global supplier of niche molecules and formulations across Pharmaceuticals and Specialty Chemicals Pharmaceuticals: Present across the critical components in the value chain US FDA approved world class manufacturing facilities Leveraging India based R&D for competitive advantage Targeting ROW markets through PICS approved FDF plants Blue chip Customer base strengthened by partnership model Strong management team with rich and diverse industry experience 8
Business Divisions / Revenue Break Up as of FY2018 • Uquifa s.a. is the Spanish subsidiary of Vivimed Labs with 80 years of experience having US FDA approved manufacturing units in Spain (2) and Mexico (1) • Manufactures APIs for pharmaceutical and animal health industries globally API • It has over 40 type 2 DMF filed with US FDA and more than 150 active DMF’s (UQUIFA) worldwide Specialty • Chemical Uquifa’s CDMO business has experienced exponential growth due to strong R&D s, 16.5% global team, emerging products, and partnerships with global players such as GSK, Pfizer, Gillead, Esteve, etc. • A value added business that delivers quality formulations and offers novel drug Pharmaceuticals, systems 83.5% • Pharma Present in generic, branded and contract manufacturing segments • Focus to expand into the non-USA based regulated generic markets such as the CIS FDF and African Countries • Manufactures Hair Dyes, Photochromic Dyes, Anti-Microbials and Imaging Chemicals Pharmaceuticals Specialty Chemicals • Vivimed is a world leader in the development of innovative photochromic dyes Specialty • Vivimed has patented processes for novel dyes targeting a range of applications Chemicals 9
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