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#CadilaHealthcare Q3 FY22 concall highlights 💊💊

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1. Revenues for the quarter were at ₹3655 Cr (1% growth YoY). Excluding COVID related products, growth was 5% YoY.

EBITDA stood at ₹750 Cr and EBITDA margins were at 20.6% compared to 21.1% in the same quarter last year. PAT for the quarter was at ₹500 Cr.

2. Branded Generics portfolio in India delivered a strong double digit growth. This is the 4th consecutive quarter of strong growth for formulations in India.

3. COVID related portfolio recorded a decline in revenues on YoY and QoQ basis due to a reduced need of COVID related products.
The Consumer Wellness business maintained its leadership position in 5 out of 7 brands in their respective categories.

4. India business contributed to 41% of revenues and showed growth of 12% on YoY basis (excluding COVID products, generic portfolio and divested products)

5. Human Health formulations recorded revenues of ₹1080 Cr. The business posted a strong growth of 17% on a YoY basis excluding sales of COVID opportunities, generics portfolio and divested products..

They gained market share in key therapies like Anti-diabetic, Cardiovascular, Gynecology and Anti-infectives

6. During the quarter, Lipaglyn catapulted among the top 100 brands and was ranked 92nd in the Indian Pharma market. This is a jump of 183 ranks i.e. from 275 to 92 during the current quarter.

7. The Consumer Wellness business posted revenues of ₹380 Cr (2% growth YoY). The business experienced slower growth due to 2 main reasons. First one is the high base in the previous year and second is that they are holding lesser inventory as part of a

continuous replenishment process to be able to operate with leaner inventory and availability of fresh stocks for customers.
Price hikes were taken during the quarter to protect gross margins from rising input costs.

8. The US business consists of generics and specialty portfolio and posted revenues of ₹1500 Cr (6% decline YoY). On a QoQ basis, the business remained flat despite continued pricing pressure in the market and decline in sales of Mesalamine

products as it managed to gain volumes in other existing and new products.

9. Launched 3 new products including “Nelarabine injection” for which 180 days of exclusivity was granted and the product was launched immediately upon approval.

10. They filed 12 ANDAs for the quarter including a first drug-device combination product on NCE-1 date, 2 products as single source and 2 products as limited competition products.

11. The Emerging Markets business posted revenues of ₹290 Cr (1% decline YoY). Due to its presence in diverse geographies, the business managed to overcome challenges emerging out of political and economic uncertainty

in some of the markets as these were offset by strong growth in other markets.

12. They filed 7 new product dossiers during the quarter - 3 with the Brazilian Regulatory authority and 4 with Mexican regulatory authority.

13. They have received an order from the Government of India to supply 1 crore doses of their COVID vaccine ZyCov-D. They have already started the supplies of the vaccine to the Government of India against this order.

14. The Lancet has accepted the submission of the interim analysis of Phase 3 clinical trial results of ZyCov-D vaccine for publication with the largest clinical study on Indian patients.

15. During the quarter, they entered into a manufacturing license and technology transfer agreement for ZyCov-D with Enzychem Lifesciences of South Korea. This will lead to manufacturing of over 80 million doses of the vaccine in 2022.

These doses will be supplied in South Korea and a number of countries in Latin America and Asia.

16. They are planning to set up a new site for US formulations and will which they are planning to give them the lowest benchmark cost across all their sites.

17. They are planning on filing 40+ ANDAs in the next financial year and the target is achieve $1 Billion in revenues from the US.