Investor Presentation

Transcription

1 Investor Presentation 1 BSE Symbol : AJANTAPH Code: NSE Symbol : AJANTPHARM ISIN: INE031B01031

2 Safe Harbour Statement This presentation may include certain forward looking statements, based on current expectations, forecasts and assumptions within the meaning of applicable laws and regulations. They are subject to risks and uncertainties which could cause actual outcomes and results to differ materially from these statements. The Company disclaims any obligation to revise any forward-looking statements. The readers may use their own judgment and are advised to make their own calculations before deciding on any matter based on the information given herein. 2

3 Index 1. Global Presence 2. India Branded Generics 3. Emerging Markets 4. Regulated Markets 5. Infrastructure 6. Financial Highlights 3

4 Global Presence USA West Asia (3 Countries) CIS (6 Countries) Latin America (4 Countries) South East Asia (3 Countries) India Africa (19 Countries) 4

5 India Branded Generics 5

6 Therapy Focus Dermatology Ophthalmology Cardiology Others MR Strength 2,500 6

7 India Sales Q4 FY 14 Momentum Continues FY14 Sales Rs. 95 Cr (FY13 Rs. 71 Cr) Growth 33% 30 26% 48% % 24 18% Rs. Cr % Ophthalmology Dermatology Cardiology Institution Others Q4 FY'13 Q4 FY'14 7 Source: Company

8 India Sales FY14 Excellent Growth FY14 Sales Rs. 385 Cr (FY13 Rs. 292 Cr) Growth 32% % 45% % Rs. Cr % 32% Ophthalmology Dermatology Cardiology Institution Others FY'13 FY'14 8 Source: Company

9 Within Segments Ajanta Way Ahead 45% 40% 35% 36% 40% 41% 30% 25% 20% 19% 18% 15% 10% 10% 10% 12% 5% 0% Pharma Market Dermatology Cardiology Ophthalmology Source: IMS, MAT March 14 IPM Ajanta Pharma 9

10 Indian Pharmaceutical Market (IPM) v/s Ajanta Growth 40% 35% 38% 36% 30% 29% 25% 20% 15% 15% 10% 10% 10% 5% 0% IPM IPM Indian Pharmaceutical Market, Source: IMS Mar-12 Mar-13 Mar-14 Ajanta Pharma 10

11 Ajanta Branded Generics Sales Evolution Rs. Cr Source: Company

12 IPM Ajanta Improves Rankings Further Segment IMS MAT Mar 14 IMS MAT Mar 13 IMS MAT Mar 05 Ophthalmology Dermatology Cardiology Ajanta Pharma Source: IMS 12

13 IPM Leading Brands, Gaining Ground Brand Value (Rs. Cr) IMS MAT Mar 14 Growth over Previous Year Segment Melacare Range 53 43% Derma Met-XL Range 51 24% Cardio Atorfit Range 32 39% Cardio Softdrops Range 11 83% Ophthal Apdrops Range 9 23% Ophthal Rosufit Range 8 233% Cardio Feburic Range 8 43% Ortho 13 Source: IMS

14 Product Profile Many First To Market Segment Total No. of Products as on today No. of Products First Time in Market (last 9 yrs) Ophthalmology Cardiology Dermatology Others Total Source: Company

15 Ajanta s Brands in Top 100 within Segments Respective Segment No. of Brands in top 100 in respective segment No. of Brands enjoying leadership ( Among Top 3) in respective segment Ophthalmology 7 17 Cardiology 2 6 Dermatology 1 16 Source: Company 15

16 New Product Launches in India Cardio Cardio Derma Derma Ophthal Ophthal Others Others Ophthal FY14 new launches 24 (First to market 9) 16

17 Emerging Markets 17

18 Emerging Markets Brand leadership in many markets 29% Growth in FY 14 & 16% in Q4 FY strong field force in 25+ countries Country specific brand portfolio Expertise in product registrations Fastest growing company in Philippines & Franco Africa Ranked 6 th in Franco & 35 th in Philippines (IMS Dec 13) 18

19 Emerging Markets Q4 Revenue Break-up (Rs. Cr.) % 10% 105 Region Q4 FY14 Q4 FY13 Growth Africa % Asia % Latam % 40 Total % % 0 Africa Asia Latam 19 Q4 FY'13 Q4 FY'14

20 Emerging Markets FY14 Revenue Break-up (Rs. Cr.) % % Region FY14 FY13 Growth Africa % Asia % Latam % Rs. Cr Total % % 16 0 Africa Asia Latam 20 FY'13 FY'14

21 New Product Launches Emerging Markets Region FY 14 Africa 10 Asia 20 Latin America 2 21

22 Emerging Markets Building Brands Region No. of Brands Registered No. of Brands under Registration Field Force Strength Major Segments Africa Antibiotic, Anti-Malaria, Ortho Asia Antibiotic, Derma, Ortho, OTC, Ophthal, Cardio, GI Latam Ophthal, MED, GI Total 1,391 1,

23 Regulated Markets 23

24 Regulated Markets - USA Total ANDAs filed 23 Approved 2 (launched 1) Under approval Approvals expected in FY 15 Own front end team launching Risperidone Filing target every year > 6 Expected market size of ANDA filed $1.5bn (post generic) Only solid dosage Mix of Para II, Para III, Para IV No FTFs 24

25 Infrastructure 25

26 Infrastructure Formulation Manufacturing 3 Facilities in Aurangabad (1 USFDA, UKMHRA, WHO Pre-Q, approved) Total Existing Capacities per annum on single shift basis o Tablets Million o Capsules Million o Powders - 21 Million o Liquids - 8 Million 1 Facility at Mauritius 2 Facilities coming up in Gujarat API Manufacturing 1 Facility in Aurangabad (Captive mid size plant, 18 tons per annum) 26

27 Paithan Manufacturing Facility Approved by US FDA UK MHRA WHO Geneva (Pre-Q) MOH of Multiple Countries Dosage forms Tablets Capsules Powders 27

28 Other Manufacturing Facilities Chitegaon Tablets, Capsules, Oral Jelly Chikalthana Liquid & Oral solids Mauritius Tablet & Capsules API Multi-product facility Mid capacity plant 28

29 New Manufacturing Facilities Under Implementation Dahej Facility Tablet (1,740 Million per annum) Capsule (216 Million per annum) Powder (150 Million per annum) Capacities on single shift basis Commercialization Q1 FY 16 Facility in SEZ Investing Rs.220 Cr, already spent Rs.130 Cr 29 Savli Facility Target completion in Q3 FY16 Ophthal & Derma facility Domestic Tariff Area Investing Rs.180Cr, already spent Rs.15Cr

30 R&D The Catalyst for Growth Formulation, Many first to market products to credit Analytical & API Development Team of 350+ people Niche, complex & difficult to make products Enhancing capacities & capabilities Development of different dosage forms 30

31 R&D Excellent Capabilities Formulation, Expertise in innovative product development Extended Release Bi Layer Doubling the capacity in terms of Space Equipment Other infrastructure Excellent skill set in Drug Regulatory Affairs Dossiers filing Country specific requirements 31

32 Financial Highlights 32

33 Standalone Performance Q4 (Rs. Cr.) Particulars Q4 FY 14 Q4 FY 13 Growth Exports % % to Revenue 66% 71% Domestic % % to Revenue 31% 29% Other Oper. Income 10 0 % to Revenue 3% 0% Revenue % EBITDA % % to Revenue 36% 28% PBT % % to Revenue 31% 24% PAT % % to Revenue 23% 11% 33

34 Standalone Performance FY (Rs. Cr.) Particulars FY 14 FY 13 Growth Exports % % to Revenue 63% 64% Domestic % % to Revenue 35% 35% Other Oper. Income % % to Revenue 2% 1% Revenue % EBITDA % % to Revenue 31% 25% PBT % % to Revenue 28% 19% PAT % % to Revenue 20% 12% 34

35 Consolidated Performance FY (Rs. Cr.) Particulars FY 14 FY 13 Growth Exports % % to Revenue 66% 68% Domestic % % to Revenue 32% 31% Other Oper. Income % % to Revenue 2% 1% Revenue % EBITDA % % to Revenue 31% 24% PBT % % to Revenue 27% 19% PAT % % to Revenue 19% 12% 35

36 Consistent Track Record of Growth 22% CAGR Operating Income 42% CAGR PAT Consolidated Operating Income & PAT (Rs. Cr.) Total Income Profit After Tax 1,

37 Consolidated Performance - FY EBITDA (Rs.Cr.) 369 PAT (Rs.Cr.) Earning Per Share (Rs.) Dividend (Rs. Cr.)

38 Consolidated Key Financial Indicators Rs. Particulars FY 09 FY 10 FY 11 FY 12 FY 13 FY14 EPS Cash EPS EBITDA per share EBITDA margin 19% 19% 20% 22% 24% 31% PAT margin 7% 8% 10% 11% 12% 19% R & D Exp. (Rs. Cr) R & D Exp. (% to Sales) 5% 5% 5% 5% 4% 4% * EPS of all years calculated post bonus shares 38

39 Consolidated Key Financial Indicators Particulars FY 09 FY 10 FY 11 FY 12 FY 13 FY14 Book value per share (Rs.) Dividend/share (Rs.) (FV Rs.5) RONW 16% 18% 22% 26% 28% 39% ROCE 13% 14% 18% 23% 38% 47% Dividend payout 13% 14% 13% 13% 15% 18% * Book Value of all years calculated post bonus shares 39

40 Consolidated Key Financial Indicators Particulars FY 10 FY 11 FY 12 FY 13 FY 14 Long term debt / Equity Total debt/equity Receivable days Inventory days Payable days

41 Growth Drivers India Building on existing brand equity in speciality segments New Segments to gain from enhanced brand equity Pipeline of new product launches Emerging Markets Gaining market share in existing territories Focus on further strengthening the brands New product launches continues Regulated Markets Increased pace of ANDA filings Expected approvals for 3-4 ANDAs in FY 15 Own sales & marketing team in place 41

42 For updates and company information please visit our website: For specific queries, contact: Rajeev Agarwal Ajanta Pharma Limited Ajanta House, Charkop, Kandivli (W), Mumbai