Investor Relations PresentationMarch 2012

Disclaimer

Except for the historical information contained herein, statements in this presentation and the

subsequent discussions, which include words or phrases such as “will”, “aim”, “will likely result”,

“would”, “believe”, “may”, “expect”, “will continue”, “anticipate”, “estimate”, “intend”, “plan”,

“contemplate”, “seek to”, “future”, “objective”, “goal”, “likely”, “project”, “should”, “potential”,

“will pursue” and similar expressions or variations of such expressions may constitute "forward-

2

“will pursue” and similar expressions or variations of such expressions may constitute "forward-

looking statements". These forward-looking statements involve a number of risks, uncertainties

and other factors that could cause actual results to differ materially from those suggested by the

forward-looking statements. These risks and uncertainties include, but are not limited to our

ability to successfully implement our strategy, our growth and expansion plans, obtain regulatory

approvals, our provisioning policies, technological changes, investment and business income,

cash flow projections, our exposure to market risks as well as other risks. Claris Lifesciences

Limited does not undertake any obligation to update forward-looking statements to reflect

events or circumstances after the date thereof. Market information mentioned in the

presentation is based on IMS Data and/or internal estimates of the company. This is not an offer

or a proposal to invest in the shares of the company, investors are advised to undertake their

own research before making an investment decision.

About ClarisAbout Claris

Introduction

• One of India’s Largest sterile injectables pharmaceutical company

• Catering to the niche segment of Generic Injectables

• Products predominantly used for treatment in critical care

• Product catering to the needs of Hospitals only

• Unique company with India cost advantage

4

• Unique company with India cost advantage

• Certain first of the kind products and unique delivery systems for an

Indian company.

• One of the few companies in India to have the capabilities to take

products to the Regulated Markets

Evolution…

• Claris commences

business as a Trading

Company in Blood

Products

• Successfully

penetrates the Indian

hospitals market

• Regulatory teams and

manufacturing infrastructure

in place

• Achieves leadership position

in India

• International expansion in

emerging markets

• US FDA approval for sterile

injectables manufacturing facility

• Office in USA

• Emerges as a significant player in

international markets

• First DCP Approval in the EU

1999-2002 2007-20102003-2006 2010-2011

• Went through public

offering of shares on

the BSE

• Obtained registrations

for twenty five ANDAs

in the United States

• Propofol approved in

5

• Creates the core

team and support

infrastructure

• Launches Specialty

Products

development

programs

• Commences

manufacturing

project

emerging markets

• Manufacturing facility

approvals by ANVISA Brazil,

INVIMA Colombia, MHRA UK

and others

• Unveils strategy for

regulated markets

• Carlyle invests Rs. 905.06

million in the Company for

11.14% (post issue) stake

• Launch of a range of infusion

products in non-PVC bags

• Commenced own sales and

marketing activities in the US

• Scale up of product development

and manufacturing facilities

• Propofol approved in

EU, commercialized

sales in UK

• Filed for Propfol and

Iron Sucrose in the US

• Ranked #1 in

Healthcare and #9

over all in “Best

Companies to work

for 2011”

Claris has evolved from an Emerging Market focused injectables company to one of the leading pure play global

injectables players

An Overview

• 128 products formulations across multiple

markets and therapeutic areas

• 5 manufacturing facilities in Ahmedabad,

India; 4 operational and 1 under construction

• Approvals by foreign regulatory authorities

including US FDA#, MHRA(UK), TGA (Australia),

Domestic,

47%International,

53%

Business Mix

6

including US FDA#, MHRA(UK), TGA (Australia),

ANVISA (Brazil) & GCC FDCA

• Strong marketing & distribution network

comprising an appropriate mix of multiple

distribution channels / formats / layers

• Customer base primarily includes government

and private hospitals, aid agencies and nursing

homes

Claris has evolved from an domestic market-focused

injectables company to one of the leading pure play

global Injectables players

# CAPA programmed completed; awaiting re-approval

53%

Unique Features

• Claris is amongst the first few/only Indian companies to have…

� Successfully registered products in South Korea

� Sales of finished formulation in Korea

� Won SGH tender in Saudi Arabia

� Sales in injectables product in Canada, Taiwan, GCC,

� Emulsion and bag lines approved by USFDA #, MHRA etc.

7

� Approval of SVP line, LVP line and bag line in one inspection by FDA

� Capability to manufacture HES API and finished products

• Claris has the largest…

� Global presence amongst Indian injectables companies

� Bag manufacturing capacity in India

� Emulsion products manufacturing capacity in India

� Number of injectables registrations across the world

# CAPA programmed completed; awaiting re-approval.

Product Development

� Basket of 128 products

o 48 products commercialized in the international markets

� Capabilities to manufacture complex products and API

o Emulsions (Propofol & Lipids)

o Colloidal Solutions (Iron Sucrose)

o Starches (API)

8

o Starches (API)

� In-House Formulations and Development team

� Sustainable compliance policy for Pharmacovigilance and quality standards

� Capabilities to meet quality standards across all markets

BPOM –

Indonesia

USFDA

USA

MHRA -

UK

NEB -

Netherlands

NAM –

Finland

TGA –

Australia

GCC ANVISA –

Brasil

SSA –

Mexico

INVIMA –

Colombia

Wide Product Range

• Filed 329 product registrations in regulated

markets, including 39 applications in the US

• Received 207 product registrations in regulated

markets, including 25 in the US

• Wide range of product catering to both

segments of the Hospitals – the Infusions and

Critical Care Segment.

1228

357

Approved Under Approval

Registrations

9

• Multiple technology platforms – aqueous

solutions as well as complex colloidal solutions,

liposomal products and emulsions

• Multiple delivery systems – glass and plastic

bottles, vials, ampoules and non-PVC & PVC

bags

• Presence across 91 countries worldwide

• Developed and registered dossiers for

countries across the world

Approved Under Approval

207122

1021235

Approval Under Approval

RM EM

Key Products

Anaesthesia

& AnalgesiaAnti Infectives PVE & Blood Products Clinical nutrition

Diversified portfolio of sterile injectable products

• Propofol

• Propofol MCT LCT

• Paracetamol IV

• Ropivacaine

• Bupivacaine

• Pipercillin+

Tazobactum

• Ciprofloxacin

• Metronidazole

• Ofloxacin

• Tetrastarch

• Pentastarch

• Hetastarch

• Dextran-40/70

• Immunoglobulin

• Parenteral Nutrition

o Amino acids

o Carbohydrate

o Fat emulsion

o Glutamine IV

10

• Bupivacaine

• Midazolam

• Lidocaine

• Ofloxacin

• Levofloxacin

• Fluconazole

• Meropenem

• Immunoglobulin

• Human albumin

o Glutamine IV

• Enteral Nutrition

Key Products

Diversified portfolio of sterile injectable products

Renal Care & Oncology

• Iron sucrose

• Erythropoietin

• Alpha Ketoanalogue

• Cyclosporine

• Sirolimus

• Ondansetron

• Diclofenac Sod.

• Dobutamine

• Metoprolol

• I.V. Solns.; Dextrose / Saline /

Dextrose + Saline / Ringer Lactate- In

Non PVC bags & Plastic bottles

• Specific need Electrolytes-M/G/P/E

Other InjectablesHospital Solution

11

• Mycophenolate Mofetil

• Double & triple Chamber Bag -

CAPD

• Pigylated Liposomal Doxrubicin

• Heparin

Manufacturing Facility

State-of-the-art Manufacturing Facility in India

• 78 acre campus with 5 manufacturing plants – 4 operational, 1 under development.

• Sterile Injectable Facility – WHO GMP certified and approved by USFDA#, MHRA, TGA, ANVISA, GCC FDCA

• Frost & Sullivan India Manufacturing Excellence Award for 3 years

• IDMA Quality Excellence Awards for 4 times

• Setting new benchmarks in green and sustainable development

• State of the Art manufacturing equipments suppliers

� Bottlepack: FFS machines from Rommelag

12

� Clestra: Walkable ceiling, flexible non corrosive rooms

� Stilmas: Most energy efficient water for injection plant

� Christ: High quality purified water facility

� Robert Bosch, Groninger, Plumat, Colpitt: Manufacturing Equipment

� Schoeller-Bleckmann Medizintechnik (SBM): Sterilization Equipments

� GF, Imanpack, Macofar, Bravity : Packing Automation Equipments# CAPA programmed completed; awaiting re-approval.

Plant wise details

Plant 1 Plant 2 Plant 3 Plant 4

SVP Line-

Glass Amp / Vials

Emulsion Line

Propofol & Fat Emulsion

LVP Line

Aqueous – Glass bottle

Bag

LVP lines – 6

Mfg. 100 ml to 1,000ml

Nipple head plastic bottles

CAPD bag line

Peritoneal dialysis

PVC bags up to 2,000 ml

PLANNED CAPEX

API mfg Lines

Iron Sucrose

Starches

Bag Line

PVC and non PVC

Multi chamber bags

Double & Triple Chamber

LVP Line

Aqueous – Glass bottle

SVP Line

PLANNED CAPEX

LVP line

Mfg 500 ml nipple head

Plastic bottles

SVP Line

Plastic Ampoules 5 & 10 ml

EURO Head Line

PVC and non PVC

PLANNED CAPEX

Emulsion Line

Propofol & Fat Emulsion

LVP Line

Mfg 500 ml Nipple head

plastic bottles

Plastic Ampoules

Emulsion Line

Propofol and Fat Emulsion

Mrg. 100 ml & 500 ml

Plastic Euro head bottles

13

Delivery Systems & Technology

• Glass & Plastic Ampoules

• Glass Vials

• Glass & Plastic bottles

• EURO Head

Current delivery systems

• Emulsion technology

• Aqueous technology

� SVP

� LVP

Current technological capabilities

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• EURO Head

• PVC bags

• Non-PVC bags

� Single chamber bags

� Double chamber bags

� Triple chamber bags

� LVP

• Form-Fill-Seal technology for bags

� Non-PVC bags

• Blow-Fill-Seal technology for plastic bottles

Strong capabilities in a range of delivery systems

Geographical presence – 91 countries

15

LatAM

Argentina, Brazil,

Colombia, Costa Rica, D R

Congo, DR, Guatemala,

Guyana, Haiti, Jamaica,

Latvia, Mexico, Nicaragua,

Peru and Venezuela

Africa

Angola, Burundi, Chile,

Ethiopia, Ghana, Guinea,

Kenya, Liberia, Madagascar,

Malawi, Mauritius,

Mozambique, Niger, Nigeria,

Rwanda, Senegal, Sierra

Leone, Sudan, Tanzania,

Uganda and Zambia

Asia

Bangladesh, Bhutan,

India, Indonesia,

Nepal, Philippines,

Singapore, Sri

Lanka, Taiwan,

Thailand and

Vietnam

CIS

Azerbaijan,

Kazakhstan,

Kyrgyzstan, Russia,

Tajikistan,

Turkmenistan,

Ukraine and

Uzbekistan

GCC+ME

Afghanistan,

Algeria, Baharin,

Jordan, Kuwait,

Lebanon, Oman,

Qatar, Saudi Arabia,

Syria, Tunisia, UAE

and Yemen

Regulated Markets

Albania, Australia, Bulgaria,

Canada, Denmark, Finland,

Georgia, Germany, Greece, Hong

Kong, Italy, Lithuania, Netherland,

New Zealand, North Korea, Poland,

Portugal, South Africa, South

Korea, UK and USA

Domestic Network

• PAN India delivery model

• Network of approximately

� 50+ C&F agents

� 12 Distributors specially for

Critical Care products

Distributor

C&F

16

� 1067 Stockiest

• Specialized sales team catering to

22,000 hospitals and nursing homes.

“Given the quality perception, Claris products

command a premium in the market.” – OC&C

Strategy Consultants

International sales & marketing strategy

• Tiered approach based on the

following criteria

� Nature

� Attractiveness

� Competition

Philosophy

• Distributor manage the supply

chain and Front End

• A dedicated on ground sales

team for Claris products

• Example: Brazil, Mexico,

Tier-I

• Supply chain and sales are

management by distributor.

• Claris country manager to over

see all sales processes and

pricing.

Tier-II

17

� Competition

• Allows Claris to leverage its product

development, regulatory and

manufacturing strengths

Venezuela, Colombia, Chile,

Vietnam, Uzbekistan, etc.

• 100+ distributors across the globe

• Business arrangements with local companies in regulated markets

• Strong Sales & Marketing Network and Front end across 91 countries.

• Total sales force of 40 people in the international market

StrategyStrategy

Strategy

Invest in

incremental

capacities and

product portfolio

for Infusion

Focus on increasing

market share for

certain high

potential products

Increase

penetration in the

regulated markets

with new product

launches

19

for Infusion

products

Establish and

expand presence in

certain key

Emerging Markets

potential products

Maintain cost

leadership by

expanding capacities

Growth

Strategies

OpportunityOpportunity

Domestic Market – Strong Presence

Favorable Demographics

India‘s rising population and income levels, along with a growing preference for private health services over public services, is augmenting the

growth of the healthcare delivery market

Availability of quality and affordable healthcare

Among countries outside the US, India has one of the

largest number of Joint Commission International

(JCI)-approved hospitals.

The country has 0.5 million doctors, 0.9 million nurses

and around 1.37 million beds.

Increased expenditure on healthcare

Population growth and increased disposable income

are expected to result in better healthcare awareness

and more expenditure on healthcare.

Healthcare expenditure in India is expected to

increase by 15 per cent per annum. The 2011 budgetAdvantage

21

and around 1.37 million beds.

India holds the top position in the number of medical

and nursing colleges; 303 and 3,904, respectively.

The cost of surgery in India is nearly one-tenth of the

cost in the US and European countries

increase by 15 per cent per annum. The 2011 budget

has allocated 26760 Cr.

India has the potential to add nearly 1.74 million beds

between 2008 and 2027 with an investment of about

US$ 104 billion during the same period to fulfill the

unmet needs.

Changing disease pattern

India is witnessing a shift in disease patterns from communicable diseases to the high incidence of non-communicable and lifestyle-related

diseases, which is driving the need for tertiary-and quaternary-care hospitals and clinics.

Advantage

India

Claris has been present in domestic injectables market since 1999 and has a strong brand recall

Source: OC&C Report & Market research

India Growth Opportunity

Size of Indian Healthcare Industry (USD Billion)• The domestic health care industry is expected to

grow at 15% CAGR between 2010 – 2015

• The long term growth rate is projected at 11%

(2015 – 2020)

177 projects were under execution in 2010 equivalent to

45,700 beds…50

100

280

22

This will call for a significant increase in hospital

infrastructure - targeting 2 beds per 1000 (half the

global average) by 2015 will require 1.3 mn additional

beds over next 5 years

20695

25034

Private Governments

Each incremental bed is an opportunity for the company to market its products

2010 2015 2020

Source: OC&C, Fitch & Consolidated FDI Policy, DIPP

International Markets – Huge Opportunity

• Global injectables market is ~USD 143 bn (~20% of global

pharma market) with generics contributing ~15% (USD 20

bn)

• As the world looks towards reducing healthcare costs,

generics is the only option.

• Fewer players have lead to a shortage of products in the

regulated markets

Huge opportunity

0 10 20 30 40 50 60 70

' 1

23456789

10+

Limited manufacturers for most of the drugs

23

• With large number of drugs going off-patent, the global

generic injectable market is expected to reach USD 33 bn by

2014 (CAGR of 11%)

• High entry barriers – Complexity of products (multiple technology

platforms and delivery mechanisms), capital intensive nature,

dedicated facility, strict regulatory standards

• Most of the products have limited number of suppliers - 86% of

the ANDAs have less than five competitors

• Limited price erosion even after generalization of product leading

to higher margins compared to oral products

Niche market – Limited competition -> High margin

Upcoming Injectables patent expiries

1.5

3.1

4.1

2.6

1.4

0

1

2

3

4

5

2011E 2012E 2013E 2014E 2015E

(USD bn)

0 10 20 30 40 50 60 70

No. of ANDAs Registered

Source: OC&C Research

Product Opportunity

Market size of Claris products in Global Markets (USD Million)

1473

5,392

6,865

24

2559

881

1012

940

Commercialised Non Commercialised Under Registration Pipeline - Can be Filed Pipeline - Under

Development

2,559

3,440

4,452

Source: IMS 2009 & Company Estimates

ManagementManagement

Management Mantra…

• Vision

� To be one of the worlds’ leading and most admired pharmaceutical companies in the

global Generics industry.

� To continually create value and bring pride to stakeholders, partners, customers and

the community at large.

� To preserve earth’s most precious resource… Human Lives

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� To preserve earth’s most precious resource… Human Lives

• Mission

� A world-class organization , built on,

� Outstanding performance lead by Entrepreneurial culture.

� Product quality through Emotional Pharmacopoeia.

� Management capabilities, Efficient process and Technology.

� Youth, hard work and discipline.

� Achieved in manner of fairness, honesty and corporate responsibility.

Board of Directors

• Post Graduate in Management from Northeastern University, Boston, USA and holds a Bachelor of

Commerce degree from Gujarat University, Ahmedabad

• Appointed as Director of the Company on February 19, 2001 and has been the Managing Director & CEO

since September 26, 2008

• Holds a Bachelors degree in Commerce and Doctorate in finance from Mumbai University and also

qualified & practicing Chartered Accountant and Cost and Works Accountant

• Appointed as a Director on April 27, 1999

Arjun S. Handa

Managing Director

& CEO

Dr. Pravin P. Shah

Non-Executive Chairman

and Independent Director

27

• Appointed as a Director on April 27, 1999

• Holds a Master of Business Administration degree from Babson College, Boston, USA and holds a Bachelor

of Commerce degree from Gujarat University, Ahmedabad

• Appointed as a Director of the Company on June 13, 2006 and served as CFO of the Company from

January 1, 2008 to March 31, 2009

and Independent Director

Aditya S. Handa

Non-Executive &

Non-Independent

Director

Eminent & Experienced directors bring extensive knowledge and best practices, assisting in attaining higher levels

• Holds a Bachelor of Science degree from Saurashtra University, Rajkot

• Joined the Company on April 1, 1999 and has around 34 years of experience in the pharmaceutical

industry

• Responsible for the technical aspects of the business

Chetan Majumdar

Executive Director

Board of Directors

• Holds a Master of Commerce degree from Maharaj Shivajirao University, Vadodara

• Appointed as an Executive Director in July , 2009, he has been with the company since April 1,

1999

• Has around 13 years of experience in the pharmaceutical industry

Chandrasingh Purohit

Executive Director

(Finance)

Amish Vyas

• Hold a Bachelor of Electronics and Communication degree from Gujarat University,

Ahmedabad and holds MBA degree from Gujarat University

28

Amish Vyas

Executive Director

• Holds a Post-graduate degree in Mathematics and a Graduate degree in Law from Punjab

University and has completed his training in Public Administration from the National Academy

of Administration

• Served in the Indian Administrative Service for about 35 years

• Retired from Public Service as Chairman of the Board for Industrial and Financial

Reconstruction

Surrinder Lal Kapur

Independent Director

• Been with the Company since February 1, 2003 and has about 15 years of experience in the

pharmaceutical industry

• Responsible for spearheading Company’s foray in to the regulated markets

Eminent & Experienced directors bring extensive knowledge and best practices, assisting in attaining higher levels

Board of Directors

• Holds a Post-graduate diploma in management from Indian Institute of Management,

Ahmedabad and B. Com (Hons) from the University of Delhi

Nikhil Mohta

Non-Executive

Non-Independent

• Holds a Master of Science degree in Biomedical engineering from the Indian Institute of

Technology, Chennai, and is a graduate in mechanical engineering from the Indian Institute of

Technology, Chennai

• Has over 35 years of experience in manufacturing and consulting

T. V. Ananthanarayanan

Independent Director

29Eminent & Experienced directors bring extensive knowledge and best practices, assisting in attaining higher levels

Ahmedabad and B. Com (Hons) from the University of Delhi

• Vice President in the Asia Growth Capital Group of First Carlyle Ventures IIINon-Independent

Director

Share holding patternShare holding pattern

Share Holding Pattern – as on 31st December 2011

FII, 11.33%

DII, 2.93%

Others, 5.60%

31

Promoter, 49.49%

Promoter Group, 19.51%

Carlyle, 11.14%

FinancialsFinancials

419

881

1620

2101

22952434 2404

500

1000

1500

2000

2500

2770

3905

5999

7522 7435 7523 7388

1000

2000

3000

4000

5000

6000

7000

8000

Financial Highlight

Net Sales (Rupees Mn) EBITDA (Rupees Mn)

212

476

835

1084

1304

1414

1263

0

200

400

600

800

1000

1200

1400

1600

2005 2006 2007 2008 2009 2010 2011

0

2005 2006 2007 2008 2009 2010 2011

0

2005 2006 2007 2008 2009 2010 2011

15.1%

22.6%

27.0% 27.9%

30.9%32.4% 32.5%

7.7%

12.2%13.9% 14.4%

17.5%18.8%

17.1%

2005 2006 2007 2008 2009 2010 201133

PAT (Rupees Mn) EBIDTA% PAT%

Balance Sheet

Rupees Mn.

CY09 CY10 CY11

Net Block (including CWIP) 6,152 7,641 9,495

Cash & Bank Balance 2,369 3,956 1,593

Current Assets, Loans & Advances 5,036 5,347 6,217

34

Current Liabilities & Provisions 4,799 3,672 2,075

Net Current Assets 237 1,675 4,142

Share Capital 341 638 638

Reserves & Surplus 4,761 8,508 9,883

Net Worth 5,102 9,146 10,521

Total Loan Funds 3,140 3,606 4,109

Way Ahead…

We are committed to

continuously scale up our efforts and

resources in bringing innovative,

and affordable medical care products

35

and affordable medical care products

to patients world wide;

thereby contributing

to well being of the earth’s most precious

resource… Human Lives

… Thank you!