Caplin Point Laboratories

Q1 FY23 RESULTS AND CONCALL NOTES:

• US Operating revenue grows 61% YoY to Rs. 41 Cr.

• Geographical breakup of sales: LATAM & Africa – 88 %, US - 12%

• Caplin Steriles completed the development of 2 complex emulsion injectable products with a target to file them during the current financial year. On track to complete 3 more complex products in the next 3-4 months.

• Company finalizes plans to start a Warehouse in Chile, with specific focus on Private Market and specialized generics in Tenders . The Company already has 75 products approved in Chile.

• Company sets up a new marketing team for Vietnam and Cambodia with first order for Cambodia already received.

• CRO: Company’s CRO wing AMARIS CLINICAL receives approval from ISP Chile, in addition to US FDA EIR. Around 9 products shortlisted for conducting BE studies for Chile, for Caplin. First product approval received (for partner ANDA) through studies completed from AMARIS CLINICAL.

• API Facility – Company plans for greenfield API facility at Thervoy SIPCOT site acquired in 2020. Project to have 2 dedicated blocks, for Oncology and General Category APIs.

• First two complex emulsion injectables developed from CSL will be filed within FY23, with Biostudies completed at AMARIS CLINICAL for one of the products.

• Company has earmarked Mexico and Chile as the next immediate avenues for growth in LatAm . Company has 1 product approved in Mexico, with 6 more approvals expected in the next few quarters. Company currently has 66 product registrations in Chile.

• Targeting Tier II-III customers in US (Just like the Latin America business model)

• Launching Own Label products by Year-end in the US (3 products)

• Caplin Steriles to turn Net breakeven this year.