ERIS Lifesciences Ltd

- Eris Lifesciences intends to raise around Rs. 1,250 crores through Non-Convertible Debentures (NCDs). - The purpose is to repay Commercial Papers (CPs) due in first or second week of June. - The company plans to continue deleveraging, targeting a debt-to-EBITDA ratio of less than 2x by September 2025. - They plan to repay Rs. 400 crores of debt via internal accruals in FY25 and Rs. 600 crores in the following year. - Capex of Rs. 70-80 crores per year is planned for the next two years, mainly for manufacturing units to insource Biocon Injectables portfolio. - No new equity fundraising is explicitly mentioned in the disclosed sections.

- Capex of Rs. 70 to 80 crores planned annually for FY25 and FY26. - Investments focused on setting up manufacturing units at Ahmedabad for insourcing Biocon products, including Insulins, Oncology, and Hormones. - Capacity creation is needed for specialized containment units related to these therapies. - Emphasis on converting the Biocon Injectables portfolio in-house. - Investment in strengthening the production footprint to support export of oral solid dose forms and leverage Swiss Parenterals' channel. - Continued investment in in-house manufacturing sites (Guwahati and Ahmedabad), which currently account for around 60% of Domestic Branded Formulations revenue. - Strategic investment directed at business integration and new product launches, with over 20 first-in-market launches expected from the R&D pipeline.

- Eris Lifesciences expects organic revenue growth of 12% to 15% in Domestic Branded Formulations for FY25, continuing the momentum seen with 15% organic growth in Q4 FY24. - The company is well-positioned for a diversified therapy mix driving this growth, supported by strong Diabetes portfolio including Linagliptin, Dapagliflozin combinations, and Vildagliptin in the generic space. - Over 20 first-in-market launches from their own R&D pipeline are anticipated, along with integration benefits from acquisitions like Biocon Injectables and Swiss Parenterals. - Expansion of new therapies such as Dermatology, Oncology, Nephrology, Immunology, and Insulins is expected to further contribute to secular growth. - Manufacturing insourcing and capacity additions (Ahmedabad plant) are planned to support revenue scaling and margin enhancement. - Growth in large brands and new product launches positions the company to continue outpacing market growth.

- Eris Lifesciences expects sustained organic revenue growth of 12%–14% in Domestic Branded Formulations for FY25, following a 9%–10% growth in FY24. - EBITDA margins for Domestic Formulations are expected to maintain around 36%. - Adjusted consolidated EBITDA for FY24 was Rs. 713 crores (36% margin), with adjusted PAT at Rs. 432 crores (22% margin), showing 33% and 16% growth YoY, respectively. - Earnings Per Share (EPS) for FY24 was Rs. 29 (6% growth YoY) with cash EPS at Rs. 38 (14% growth). - Margin expansion and earnings growth are anticipated as integration and normalization progress, especially in newer therapies like Dermatology, Oncology, Insulins, and Nephrology. - Operating cash flow conversion is strong at 70%–75% of EBITDA, supporting debt reduction and margin stability. - Breakeven achieved for MJ Biopharm; run rate improving, indicating profitability momentum.

- No explicit mention of a current or expected order book or pending orders in the provided transcript. - Amit Bakshi mentioned new product launches in the pipeline: - Two products launched this fiscal (Feb-Mar): Gliclazide with Sitagliptin combination. - Awaiting approval and additional bioequivalence (BE) study for a third triple drug. - Marketing authorization obtained for Dapagliflozin and Metoprolol; awaiting final licenses. - Next product in line: Dapagliflozin with Bisoprolol, targeting heart failure. - Expected launches mainly in Q1, with quieter Q2 and pickup in Q3. - R&D pipeline includes over 20 first-in-market launches with good visibility post Q1. - No direct figures or value of order book mentioned.