Senores Pharmaceuticals Ltd

- Funding for expansion plans in the U.S. and other regions will come from a mix of internal accruals, debt, and IPO proceeds. - The company plans to use all three sources combined depending on the fund requirements. - No specific mention of upcoming fundraising rounds, but IPO proceeds are indicated as part of the funding strategy, suggesting a recent or planned IPO. - No additional explicit plans for new debt or equity fundraising were disclosed beyond this combined approach.

- Current capex planned at around INR 100-150 crores for the year (FY26), down from earlier estimates of INR 250 crores. - Capex split between US and India manufacturing facilities. - In the US: - Four oral solid manufacturing lines planned, with the third line operational by Q3 FY26 and the fourth by year-end. - Expansion of US plant capacity from 1.2 billion to 2 billion units. - India facility: - Strategic investment to cater to new markets (e.g., Brazil, Mexico, EU). - Part of capex funding through internal accruals, part debt, and IPO proceeds. - Some capex to spill into next year (around INR 50 crores). - Focus on backward integration via API manufacturing facility in Chhatral (~100-150 metric tons capacity), filing DMF for FDA approval. - Ongoing inorganic growth by acquiring ANDAs, with 20+ acquisitions so far, targeting product portfolio expansion aligned with business strategy.

- Senores Pharmaceuticals anticipates 20%-30% CAGR growth in U.S. regulated market revenue going forward. - FY26 revenue guidance is around INR 600-650 crores, a 50% growth year-on-year, with 100% net profit growth. - CDMO segment expected to contribute about INR 200 crores in FY26 with 20%-30% CAGR growth in subsequent years. - Emerging markets show strong growth with 32% Y-o-Y revenue increase; EBITDA expected to improve from 6% to mid-teens (~10-15%) by next year. - Product launches in H2 FY26 will further boost sales, with peak impact expected in FY27. - Total US manufacturing capacity expansion will support volume growth, including four lines by end of the year. - Inorganic growth through ANDA acquisitions (20+ acquisitions done) will add to product portfolio and sales. - Emerging market new product registrations (719 under registration) will fuel future growth.

- Senores Pharmaceuticals expects a top-line growth of approximately 50% in FY26 over FY25. - Profit after tax (PAT) projected to grow about 100% in FY26 compared to FY25. - EBITDA margins are expected to stabilize around 25%-26% on an annualized basis. - Emerging market business is targeting EBITDA margins to improve to around 15%-17% sustainably. - The company anticipates mid-teen EBITDA margins in emerging markets by next year, with current year improving from 6% EBITDA. - CDMO business expects continued robust growth of 20%-30% CAGR going forward. - The company expects positive operating cash flow going forward, with INR 11 crores positive in Q1FY26. - Branded generics revenues expected to surpass INR 50 crores in FY26, contributing to profitability. - The US regulated market business expects steady 20%-30% CAGR growth over next few years.

- Current CDMO-CMO order book stands at approximately USD 23 million as of the beginning of Q1FY26. - The order book typically spans an execution timeframe of 12 to 18 months, with rolling and long-term contracts. - The company maintains ongoing discussions with multiple partners, indicating potential for additional orders beyond the current book. - Expected CDMO revenues for FY26 are around INR 200 crores, with growth visibility and confidence to meet this target. - Future growth for CDMO-CMO is projected at a CAGR of 20% to 30%, with capacity additions underway to support pipeline expansion. - Order book is considered firm but flexible, with some rollover and substitution of orders anticipated through the execution period.