Morepen Laboratories Limited — PPTs, 12-05-2025: Investor Presentation

1. Financial Highlights:

Consolidated revenue rose 7.4% to Rs. 1,830 Cr, with Q4 revenue up 10% to Rs. 470 Cr. EBITDA margin improved to 10.1%, supporting a 6.5% increase in PAT to Rs. 118 Cr. EPS gained 17% to Rs. 2.20. Pharma contributed 73% of revenues at Rs. 1,334 Cr (up 5.8%), while medical devices grew 12% to Rs. 496 Cr. API exports remain strong, making up 72% of API revenue at Rs. 697 Cr. Capacity expansions and efficient cost management drove margin improvement.

2. Strategic Initiatives & Growth Drivers:

Morepen is scaling its formulation business with plans to add 1,000 medical reps over three years. R&D strength continues with 325 scientists and 55 patents filed. API capacity targets 514 KL by FY26 (from 314 KL currently). Medical device capacity, especially glucose meters, will increase to 600 million units. The company is also focused on global launches like Resmetirom and enhancing digital health offerings via the Dr. Morepen app.

3. Business Developments:

Several new API products were launched, alongside advancing innovative drug candidates. Approval for Restmetirom bioequivalence studies paves the way for a global rollout. Device portfolio expanded to nebulisers, stethoscopes, and ortho supports, with distribution strengthening on Amazon (USA) and in Middle East, Africa, and Asia markets.

4. Market Position & Competitive Advantage:

A leader in 6 key APIs and blood glucose/BP monitoring devices with 14 million meters installed and 11.7 million units sold yearly. Exports span 80+ countries, supported by a 5,300-strong salesforce and loyal customers. Fully backward integrated Indian manufacturing and ISO certifications ensure quality and supply consistency. Strong brand equity and digital engagement add competitive differentiation.

5. Investor Implications:

Balanced revenue growth, margin expansion, and capacity ramp-ups highlight positive growth potential. New product launches and global expansion opportunities may drive scalable future earnings. Key risks include execution on novel drug commercialization and international market penetration, though solid R&D and sales capabilities reduce these concerns. Morepen presents as a diversified pharma and medical device player with growing export focus and consumer health presence.