Cipla : Q3 FY23 Investor Presentation

Investor Presentation

Q3FY23

25-1-2023

DISCLAIMER

Except for the historical information contained herein, statements in this presentation and the subsequent discussions may constitute "forward-looking statements". These forward-looking statements involve a number of risks, uncertainties including impact of Covid-19 and other factors that could cause actual results to differ materially from those suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to our ability to successfully implement our strategy, our growth and expansion plans, our ability to obtain regulatory approvals, technological changes, fluctuation in earnings, foreign exchange rates, our ability to manage international operations and exports, our exposure to market risks as well as other risks.

The investor presentation is not intended to endorse, advertise, promote or recommend the use of any products listed in it which are for representation purpose only, some of which are reference listed drugs of which the Company has approved, under approval or under development generic equivalents. The prefixes "g" and "generic" used interchangeably indicate the generic versions of the named brand drugs.

Information relating to any medical products or medical devices contained herein is provided by Cipla for general information purposes only. Information on any of the medical products or medical devices may vary from country-to-country. A reference to a medical product or a medical device does not imply that such medical product or medical device is available in your country. The commercial availability of the medical products or medical devices listed herein in your country is dependent on the validity and status of existing patents and/or marketing authorizations related to each. An independent enquiry regarding the availability of each medical products or medical device should be made for each individual country.

The product information contained herein is not intended to provide complete medical information, and is not intended to be used as an alternative to consulting with qualified doctors or health care professionals.

Nothing contained herein should be construed as giving of advice or the making of a recommendation and it should not be relied on as the basis for any decision or action. It is important to only rely on the advice of a health care professional.

Q3FY23 Performance

Continued strong traction in One-India and US differentiated portfolio drive revenue and profitability

KEY HIGHLIGHTS

Overall Revenue

INR 5,810 Cr
6%	11%
Reported	Ex-covid
YoY growth	YoY growth

EBITDA Margin
INR 1,408	Cr	24.2%
13%		24%
Reported		Ex-covid
YoY growth		YoY growth

R&D Investment1

Continued investment INR 363 Cr in respiratory, biosimilar

and other projects

39%	6.2%
of overall
YoY growth
revenue

BUSINESS PERFORMANCE

One-India

2% 11%

(Reported)(Ex-covid)

YoY growth in INR terms

Robust double-digit traction in

core portfolio across therapies and business segments

North America

$ 195 Mn 30%

YoY growth in $ terms

Strong traction in respiratory

products further propelled by new launches including peptides

SA Private

3%	YoY
in ZAR terms

Supply challenges being addressed

International Markets

$ 93 Mn

$ revenue impacted by currency volatility; Strong secondary growth continues across key markets

Note: 1. Opex including depreciation	1

Financial Performance - Q3FY23

Revenues	INR 5,810 Cr
	Revenue1 Break-up

API, 3%	Others, 1%
International
Markets,
13%
SAGA,	India, 44%
12%

North America, 28%

	EBITDA	INR 1,408 Cr
		Q3 FY23 (Consolidated)
			Actuals		vs Q3 FY22
			(INR Cr)
	Total Revenue from	5,810		6%
	Operations
	EBITDA		1,408		13%
	EBITDA % of revenue	24.2%		153 bps
	PAT		801		9.9%
	PAT % of revenue	13.8%		49 bps
	Adj. PAT2		876		20.2%
	Adj. PAT % of revenue	15.1%		178 bps
	R&D3 INR 363 Cr	39% YoY	Priority projects
		on track

1. India includes Rx + Gx+ CHL; SAGA includes South Africa, Sub-Saharan Africa and Cipla Global Access; International Markets include Emerging Markets and Europe | Figures have been	2
rounded-off| 2. Excludes one-time tax charge on account of deferred tax asset reversal | 3. Opex including depreciation

Continued focus on building balance sheet strength

Total Debt1

(INR Cr)

Cash Balances2

(INR Cr)

6,232

4,965 5,060

Net Cash3

(INR Cr)

5,190

3,909 3,992

1,056 1,068 1,042

Mar'22 Sept'22 Dec'22	Mar'22 Sept'22 Dec'22

Mar'22 Sept'22 Dec'22

1. Total debt includes lease liabilities | 2. Includes cash and cash equivalents including fixed deposits, current investments, margin deposits and excluding unclaimed dividend	3
balances | 3. Net Cash = Total Cash balances - Total debt