Kilitch Drugs (India) Ltd

- There is no explicit mention of any current or future fundraising through debt or equity in the transcript. - The management discusses working capital utilization and capex but does not indicate plans for new debt or equity fundraising. - They highlight working capital pressures being managed through internal funds and government tenders. - Asset monetization (land parcel valued around INR50 crores) is being considered, which may generate funds internally, not through equity or debt. - No direct reference to raising funds via equity issuance or new borrowings was made during the Q&A or management remarks.

- Kilitch Drugs is investing around INR 100 crores to develop a new greenfield pharmaceutical project at Khopoli, Maharashtra, India. - The Khopoli plant is designed to produce: - Oral tablets with a capacity of approx. 260 million per year - Liquid injectable vials approx. 31 million per year - Liquid injectable ampoules approx. 47 million per year - Ophthalmic drops approx. 21.4 million per year - Nasal drops approx. 21.4 million per year - The building construction at the Mumbai plant has started; they expect to complete the first floor slab by end of the current month. - Validation and production commencement is planned by May 25, 2024, in phased manner (Phase 1, 2, 3). - Capex of around INR 50 crores was incurred for the Ethiopian facility till 2021, with production starting in 2021. - No major capex since then for Ethiopian facility; focus is on utilizing the existing facility and expanding markets. - Land parcel valued around INR 50 crores being considered for monetization, but no immediate plans to sell.

- Expecting 20%-25% growth in sales for FY 2025 over FY 2024. - Overall year-on-year growth forecasted at approximately 25%-30% for FY 2025. - Export market expected to contribute around 60%-65% of revenue, domestic market around 30%-40%. - Expansion of Khopoli plant (INR 100 crores investment) to start operations with validation by May 2025, producing: - Oral tablets: approx. 260 million units/year - Liquid injectable vials: approx. 31 million units/year - Liquid injectable ampoules: approx. 47 million units/year - New facility designed considering client demand, especially near Mumbai for better QA audits and logistics. - Ethiopian facility utilization expected to reach around 60% capacity in FY 2024 with government tenders boosting revenues. - Continued focus on product development and launching new products, especially for export markets like Kenya starting FY 2025.

- Kilitch Drugs India Limited expects a revenue growth of around 25%-30% year-on-year for FY 2025. - EBITDA margins are projected to be maintained or improved in the range of 18%-22%. - The company targets achieving INR 500 crores in revenue by 2027, with EBITDA margins remaining at approximately 22%-24%. - The Ethiopian facility is expected to increase capacity utilization to around 60% in the current fiscal year, supporting strong margin expectations of 20%-25% EBITDA in that market. - New product development, particularly for export markets such as Kenya, is expected to commence in FY 2025, aiding growth and margin improvement. - The upcoming Khopoli plant, with a capacity for producing 260 million oral tablets and other dosage forms, is planned to start validation by May 2025, contributing to future growth. - Overall, the company anticipates sustained profitability growth driven by operational expansion and increased export business.

- Kilitch Drugs has secured a significant government tender in Ethiopia worth USD 9.13 million, which will commence execution from Q2 FY24. - The company expects this government order to trigger around 60% utilization of their Ethiopian facility capacity for the whole year. - The facility is expected to run more efficiently and potentially add 20%-30% more orders beyond the government tender. - For 2025, the new Khopoli plant validation starts May 25, with planned capacity: 260 million oral tablets, 31 million injectable vials, 47 million injectable ampoules annually. - Demand near Mumbai is driven by client requirements for closer logistics and QA audits, indicating existing and new clients will supply from Khopoli in 2025. - The company foresees a 25%-30% year-on-year growth for FY25, maintaining a 60%-65% export and 30%-40% domestic sales ratio. - Private market orders in Ethiopia are expected to increase as currency and government tender issues ease.