API

Development, manufacture and sale

of APIs and Advanced Intermediates
• Leadership in various High Value
Overview and High Volume APIs with sizeable
Global Market share.
• High potent manufacturing
capability in Five manufacturing
units.

• Anti – Viral
• Anti-diabetic
• CVS
Product and
Service
Offerings

• PPIs
• Oncology

• Commercialized 60+ products

Filings
• 60 DMFs filed

Infrastructure • 4 Manufacturing facilities, (3,403 KL)

(1) (2)

• 870 KL under expansion

API revenue
calculations Parameters # / qtr
Guidance for year 3350
API capacity increase by 20% in 12 months 626.4
689.04

API capacity enhancements Sep'20 &

Dec'20. This is brownfield ROCE accretive

Onco APIs - high potent confident to

increase market share (max 60 crore to 80
crore by Mar-21) Let's add qtrly 10 crore 699.04

Generic APIs for other companies contract

manufacturing - other no ARV, non onco-
current 135 cr, add 15 crore 714.04
500
total revenue (API+FDF+Synthesis) 937
OPM 25%
Profit 234.25
PBT (-57 crore as Jun'20) 177.25
TAX 25%
Net Profit 132.9375
EPS 12.3
EPS (Jun-20) 16.07
EPS (Dec-20) 12.3
EPS (Mar-20) 16
EPS (full year EPS) 56.67
Price 933.25
PE 16.46815
Median PE 28
Target Price Mar-20 1586.76
track to improve ARV sells to 1350 cr in current year itself
second line ARV - expect rev from H2 2021

API capacity increase by 20% in next 12 months

API capacity enhancements Sep'20 & Dec'20

increase in ARV volumes is due temfluine, Lamivudine, goldagrovin
next year also we going to grow in ARV due to second line API
from H2 2020
Acquired Aspen’s South African
Subsidiary, in order to get a foothold in
worlds' largest Generic Accessible ARV
market

Robust growth in Other API segment to

continue on the back of higher order book
visibility from key therapeutic segments
like CVS, Anti Diabetic and PPIs

Other therapeutic areas and Oncology to

offer consistent opportunities to broaden
scope,
Non ARV with
APIongoing
businessnew product
to contribute
introduction showcasing the speed of
significantly
diversification of revenues.
crores by Sep-21
tentive by Mar-21

tentive by Mar-21

TOTAL by Sep-21
Sep-20
 New contract manufactured products alongwith
existing products. Sweet spot due to supply change
distruptions. Good scope of generic API contract
manufacturing

Generic APIs for other companies contract

manufacturing - other no ARV, non onc

Confident of increasing market share. High Lot of opportunities in API supply disruptions in
potent APIs after next 24 months

Acquired Aspen’s South African

Subsidiary, in order to get a foothold in
worlds' largest Generic Accessible ARV non - arv based on the approval we are increasing
market non - arv
Continue to undertake Brown Field
Capex programs for Capacity addition in
line with strong order book visibility
and business outlook

Brown Field capex in existing sites to

have shorter payback period and ROCE
accretive
FDF

Developing and manufacturing oral

solid formulations for LMIC, North
Overview
America & EU Markets.
• Backed by in house API strengths

Anti – Viral
Product and • Anti-diabetic
Service • CVS
Offerings • PPIs
• CNS

Filed 26 ANDAs with USFDA and 8

Final approvals and 5 tentative
approvals In addition completed 1
product validation
Filings
• Field 11 dossiers in Canada, 9 in
Europe, 8 with WHO, 2 in South
Africa, 2 in India & 12 products filed • RoW Markets – Received approvals for TLE400 and TLE600
in various ROW markets. • North America – Sales were driven by launch of HCQ in US
US
• 5 bn Units / year capacity • Europe – Entered into a long term partnership with a leadi
• Capacity enhancement under for Contract Manufacturing Opportunities
Infrastructure progress Two products marketed using own front end

FDF revenue
calculations Parameters # / qtr timeline

Current 352
tle-400 in Q2
2020 (+5) 357

EU Custom
manfacturing
opportunities
(+25) 382 Mar-21
Few more
products
additions, One
more customer
next year. We 2
billion tablets
next year (10%
increase on
352) 417 Mar-22

Doubling FDF
capacity by
FY22 704 Mar-22
357 Sep-20
rovals for TLE400 and TLE600 from the US FDA
riven by launch of HCQ in US and increased volumes in

term partnership with a leading generic player in EU re

wn front end
growth driver remains - partnership global fund PEPFAR / various country tenders
local country approval and launch tle-400 in Q2 2020
approval for 2 products tle400 & tle 600 expect to generate revenue in coming qtr
Good visibility on fy21 and beyond
Apart from LMIC business have growth in north america & europe
sales in US increase volumes of existing products
sales in US HCQ in last week of March , don't see in demand in going ahead HCQ
continue mid teen market share in pregabulin
US - total approval 8 final and 5 tenative - 26 ANDA filed so far
Canada- 5 approvals - launched 3 products and 2 more soon
EU - very happy to share Custom Manufacturing Opportunities - non ARV products formulation is performing very well and ro
Process of launching 2 products under own label , approval for 5 , launching 1 more soon

Debottlenecking FDF infra & capacity expansion - current year same site
bownfield expansion - operational - Sep 21 fully by Dec 21
formulation increase by 80% in next 18 months - Brownfield
FDF expansion 9 billion units / year

Formulations : first line dlt treatment - 70% market share , remaining 30% tle or tee
first line 1.5 billion $, dlt treatment 1 billion $ for all companies (tenofovir/lamivudine/dolutegravir)
overall including laurus 8 approvals now in dlt - 5 are commercially selling - market for everyone
Second line treatment for HIV – filed day maps last year, customer taken materials abid batches and approval to come in H2 2
revenue will come next year. All first and second line including pediatric
TLE-400 2 approval and Laurus is 3 approval. Market shifting from TLE-600 to TLE-400
So 20-25% Faverine based and remaining goldagrvein based
India govt tender market – participate in where we have capacities for APIs
¾ LMIC & ¼ Advanced market – FDC 38:55
FDF contact manufacture – 1 customer – 1 billion units / year for that customer, Few more products additions, One more cust
2 billion tablets next year

Goldagrvir market is much higher than feravir. 4 billions tables by dec-21 for non-arv 80% capacity increase
FDF business growth came from ARV formulation business, Europe contract manufacturing, US own products. New products in
contract manufacturing. Canada launch this year and US 4 products this financial year

Formulation growth came from ARV , US - own products , Europe - New products (CMO), US / Canada - growth trajectory is ve
• Partnership with Global Fund offers higher
volume contracts with reasonable
predictability in FDF Tender business.
• Have a healthy order book for FY 21 &
beyond in FDF CMO business

Doubling our FDF capacity by FY22

er book for FY21 and beyond
Synthesis
Overview • Contract development and manufacturing services for
global pharmaceutical companies and several late stage
projects executed
• Steroids and Hormone manufacturing capability
• Sale and manufacture of specialty ingredients for use in
nutraceuticals, dietary supplements and cosmeceutical
products with natural extraction capability

• Commercial scale contract manufacturing

Product and • Clinical phase supplies
Service • Analytical and research services
Offerings • Nutraceuticals, dietary supplements and cosmeceutical
products

• API validation planned in Unit 05

Filings
• Custom development of ophthalmic portfolio initiated

• Dedicated manufacturing (Unit – 5) Capacity (137 KL) for

steroidal and hormonal intermediates
• Set up a dedicated block in Unit 4 for high potent
Infrastructure
phytochemicals APIs
• Incorporated Laurus Synthesis Pvt. Ltd
• Manufacturing facilities expanded(2)

FDF revenue
calculations Parameters # / qtr timeline
current average 102
3 new customers 108
• Commercial supplies started for 4 products 110
Laurus synthesis acquired Vizag 61 cr last qtr - early clinical
phase sythesis 80 Sep-20
Very large opprtunities in long run 300 FY24
80 Sep-20
• Revenue from Custom Synthesis division showed a growth of 37% (YoY)
• Total Number of Active Projects in the CDMO division stood at 47 as on Q1 FY21
• Incorporated Wholly Owned Subsidiary to give increased focus and eventually
dedicated R&D and Manufacturing
• Working with Large Global Innovator Pharmaceutical Companies, mid and small
Biotech Companies
• Commercial supplies started for 4 products

- CDMO 50 active projects sales of 100 cr for QTR, 37% growth YOY. Last 2 qtr highest customer
additions

Laurus synthesis limited - May20 - to increase focus and dedicated manufacturing in near future.
Laurus synthesis acquired Vizag 61 cr last qtr - early clinical phase sythesis

Customers CDMO – 4 out of top 10 pharma and several small , virtual bed companies, medium.
Several last stage NCE molecules
Very large opportunities on customer projects

Synthesis we are positive in long run and it is an interesting business, scope for revenue from
early clinical phase to commercialisation