Themis Medicare Ltd

- The company has taken on additional long-term borrowing (an increase of INR5 crore) in the form of a term loan from current bankers. - This borrowing is meant to fund the ongoing capex plan, including facility upgrades in Haridwar, setting up R&D labs, and construction activities. - There is no explicit mention of any planned new equity fundraising. - The focus appears to be on organic growth supported by internal capex and operational improvements rather than fresh equity infusion. - No specific details were shared about future debt or equity fundraising beyond the current term loan for capex.

- FY23 capex totaled around INR 29 crores (net of depreciation), invested in: - Upgrading Haridwar facility (~INR 14.65 crores) for EU GMP compliance and additional injectable lines. - Enhancing Vapi factory capacity (~INR 11 crores). - Increasing R&D base in Hyderabad and setting up a new R&D lab in Baroda (~INR 1.17 crores). - Plant and machinery additions and building construction for refinement projects. - Capex funded partly through increased long-term borrowing (~INR 5 crores term loan). - Focus on strategic investments to support growth areas: - Injectable line upgrades and obtaining UDMP certification to open export opportunities. - Building critical care product portfolio aligned with hospital business focus. - Strengthening R&D with skilled manpower and infrastructure to drive future product development. - Future investments expected to support expansion in hospital and API businesses, with a cautious approach to fixed costs.

- Themis Medicare expects a 35% CAGR growth over the next 2-3 years, driven primarily by hospital business expansion. - Growth in hospital business is supported by building and adding specialized sales teams focused on hospitals. - New product launches, including generics for emerging markets and new drug delivery systems, are planned but will take time due to regulatory approvals. - The critical care portfolio is being developed steadily, with plans to introduce more teams and products over the next 3-4 years. - Export markets remain a focus, targeting 40+ emerging markets with high-value generics. - API business is expected to show improvement with a new manufacturing process. - Domestic formulation business aims for first-launch opportunities with improved margins. - Overall growth will leverage increased productivity without a significant rise in fixed sales force costs.

- Themis Medicare expects a 35% CAGR growth over the next two to three years, driven primarily by hospital business expansion and improved productivity. - EBITDA margin target is above 25%, up from the current ~19%; management anticipates achieving this as new teams become productive without a significant increase in fixed costs. - PAT margin was 16.06% for FY23, with expectations for improvement as operational efficiencies and margin management improve. - EPS for FY23 stood at Rs.61.83, with growth expected alongside revenue and margin expansion. - Revenue growth is anticipated to pick up after a COVID-related high base in the previous year, with recovery to 20% EBITDA margins expected by H1 of the financial year. - Margin improvements will also come from better API cost structures and hospital business scaling.

- The transcript does not provide specific figures or qualitative details about the current or expected order book or pending orders for Themis Medicare Limited. - It mentions significant COVID-related orders in the previous year (FY22), amounting to around INR 60 crores, which were not present in the current year (FY23). - The company expects growth driven by hospital business expansion and new product launches. - Management is focusing on building the hospital business and increasing sales productivity but no direct reference to order book size or pending order values is provided. - Incremental margin improvement is expected primarily from improved sales productivity rather than increased order volume disclosed. - Overall, no explicit current or expected orderbook or pending order quantifications are shared in this transcript.