Contract Development and Manufacturing Organization (CDMO):
– Strong Order Inflows: Despite challenging biotech funding environment, our new service order# inflows in FY24 were significantly higher compared to FY23, especially for commercial manufacturing of on-patent molecules
– Innovation Related Work: Our share of CDMO revenues from Innovation related work increased from 45% in FY23 to 50% in FY24
– On-patent Commercial Manufacturing: Revenue from commercial manufacturing of on-patent molecules more than doubled to $116mn in FY24 compared to $52mn in FY23
– Differentiated Offerings: Revenue contribution from differentiated offerings increased from 37% in FY23 to 44% in FY24
– Integrated Projects: Over 40% of the service order book in FY24 was from integrated projects, highlighting customer preference for integrated service offerings
– Improved Profitability in our CDMO business driven by revenue growth, favorable revenue mix, normalization of raw material cost and cost optimization initiatives
– Best-in-class quality track record – Successfully cleared 36 regulatory inspections and over 170 customer audits in FY24
Complex Hospital Generics:
– Strong Volume Growth: Witnessed strong volume growth in our inhalation anesthesia portfolio in the US and ROW markets, partly offset by lower market prices
– Maintained our #1 Rank* in the US in terms of value market share in Sevoflurane. Also continue to be the leading company in intrathecal Baclofen in the US market
– Expanding our capacities to meeting growing demand of Inhalation anesthesia products in the ROW markets. Also focus on improving output through greater operating efficiencies
– Improved profitability in our CHG business during FY24 mainly led by cost optimization initiatives, yield improvement and better product and market mix
– New Product Pipeline: Launched 4 new injectable products in FY24 in the US and Europe. Building a pipeline of 24 new products which are at various stages of development with current addressable market size of over $2bn
India Consumer Healthcare:
– Power Brands comprising of Lacto Calamine, Littles, Polycrol, Tetmosol and I-range, registered YoY growth of 15% during Q4FY24 and 13% during FY24
– New Product Launches: 27 new products and 24 new SKUs launched during FY24. Over 150 new products and SKUs launched in the last three years
– Improved EBITDA margin in FY24 driven by operating leverage
– Promotional spends during FY24 was at 13% of ICH revenue vs 15% in FY23
– E-commerce grew at about 36% YoY in FY24, contributing 20% to ICH revenue. Presence across 20+ e-commerce platforms including own direct-to-customer website -Wellify.in
#New development and commercial orders. These are over and above the existing multi-year manufacturing relationships
*Source: IQVIA data