Investor Presentation 2 nd Qtr. - FY 2018

Transcription

1 Investor Presentation 2 nd Qtr. - FY st October, of 33

2 India Disclosure Index 2017 Ajanta s Ranking in Next 100 Listed Companies (Based on Market Cap) 1 st 2 nd 3 rd Voluntary Disclosure Composite Disclosure Mandatory Disclosure Union Bank Supreme Industries Mind Tree JSW Energy Federal Bank Dish TV Biocon Apollo Tyres Ajanta Pharma Ajanta s Score in Composite Disclosure Ranking Karnataka Bank South Indian Bank Source: - India Disclosure Index 2017 by FTI Consultants Inc. on how India s leading listed corporations fare on disclosure standards of 33

3 Content India Back on growth path Exports Challenges galore Financial Highlights Margin coming back Infrastructure Ready for Future 3 of 33

4 India 4 of 33

5 India Branded Generics Specialty Segment Cardiology Ophthalmology Dermatology Pain Management Focused Marketing 14 Divisions 3,000+ MRs 200+ Products About 70% products First to Market Established Player Leadership in sub therapeutic segments Strong Brand Equity Consistent Innovation Major chronic portfolio 5 of 33

6 India Sales India Branded Sales # Q2 (Rs. cr.) % 172 Pain 6% Ophthalmology 29% India Branded Sales # H1 (Rs. cr.) (1%) Therapeutic Break-up IMS MAT September 2017 Q2 FY 2017 Q2 FY 2018 Cardiology 40% Dermatology 25% H1 FY 2017 H1 FY 2018 Total India Q2 (Rs. cr.) Pain 6% Ophthalmology 28% Total India H1 (Rs. cr.) % % 321 Therapeutic Break-up IMS MAT September 2016 Q2 FY 2017 Q2 FY 2018 Source: Company Cardiology 39% Dermatology 27% H1 FY 2017 H1 FY 2018 Source: Company # = excluding = including institution 6 of 33

7 Faster than Industry - IPM 36% 29% 26% 23% 10% 10% 12% 14% 12% 4% Mar-2014 Mar-2015 Mar-2016 Mar-2017 Sep-2017 IPM Ajanta Pharma IPM = Indian Pharmaceutical Market Source: IMS MAT 7 of 33

8 Within Segments Ajanta Way Ahead 16% 16% 16% 12% 10% 7% 6% 8% 4% 3% Pharma Market Dermatology Cardiology Ophthalmology Pain Mgt. IPM Ajanta Pharma IPM = Indian Pharmaceutical Market Source: IMS MAT Sept of 33

9 IPM - Ranking Rank Ophthal Derma Cardio Pain Ajanta Sep 2017 Sep 2016 Mar NA IPM = Indian Pharmaceutical Market Source: IMS 9 of 33

10 Exports 10 of 33

11 Global Presence USA West Asia (3 Countries) CIS (6 Countries) South East Asia (3 Countries) India Africa (19 Countries) 11 of 33

12 USA ANDA Status Approval : Final 21 (3 in Q2), Tentative - 2 Under approval : 16 (Filed 4 in Q2) Filing target for FY 2018 : 12 to 15 Sales & Marketing 15 Products commercialized (2 in Q2) More products scheduled for launch in FY 2018 Sharp price erosion impacted the quarter 12 of 33

13 Africa Products Product Registrations 1,383 Segments - Anti Malaria, Multivitamin, Cardio, Antibiotic, Gynaec, MED, Pain Sales & Marketing Franco Africa major focus Africa 19 countries Anglo Africa challenges settling slowly Institution business grows for the quarter but will shrink on annual basis 13 of 33

14 Asia Products Product Registration CIS (6 countries) Segments Cardio, Pain, MED, GI, Antibiotic, Derma, Anti Histamine WEST ASIA (3 countries) SOUTH EAST ASIA (3 countries) Sales & Marketing Enhanced focus showing results Further thrust with more product addition Asia 12 countries 14 of 33

15 Export Sales Q2 (Consolidated) Regional Break-up (Rs. cr.) Total Exports (Rs. cr.) 2% % % (63%) (31%) Africa Asia USA Others Q2 FY 2017 Q2 FY 2018 Q2 FY 2017 Q2 FY 2018 Rs. cr. Gth Q2 FY 2017 Q2 FY 2018 Africa % Source: Company Asia % USA (63%) Others 1 1 (31%) Total % 15 of 33

16 Export Sales H1 (Consolidated) 369 5% 387 Regional Break-up (Rs. cr.) 5% Total Exports (Rs. cr.) 5% % % 2 3 Africa Asia USA Others H1 FY 2017 H1 FY 2018 H1 FY 2017 H1 FY 2018 H1 FY 2017 H1 FY 2018 Rs. cr. Gth Africa % Source: Company Asia % USA % Others % Total % 16 of 33

17 Total Sales (Consolidated) Q2 Revenue Break up (Rs. cr.) 2% 5% H1 Revenue Break-up (Rs. cr.) 5% 961 3% % % India Exports Total Revenue Q2 FY 2017 Q2 FY 2018 India Exports Total Revenue H1 FY 2017 H1 FY 2018 Q2 FY 2017 Q2 FY 2018 Rs. cr. Gth India % Exports % Total Revenue % H1 FY 2017 H1 FY 2018 Rs. cr. Gth India % Exports % Total Revenue % 17 of 33

18 Infrastructure 18 of 33

19 Prepared for next growth Formulation Manufacturing 3 existing facilities in Aurangabad, Maharashtra (1 USFDA & WHO Pre-Q approved) 1 Facility at Mauritius Dahej (Gujarat) - Commercial operation began in April 2017 (US FDA approved) Guwahati (Assam) First phase commissioned, 2 nd phase by Q4 FY 2018 API Manufacturing 1 Facility at Waluj (Aurangabad) - Captive Consumption API Plant - Waluj Paithan Plant Dahej Plant 19 of 33

20 R&D Thrust R&D spend & % of Oper. Income (Excluding Capex) 8% Adding Spend Q2 FY Rs. 48 cr. (9%) H1 FY Rs.95 cr. (9%) 153 6% 4% 5% R&D Focus 4% Total Team New Building 850+ Scientists Work in progress FY 2013 FY 2014 FY 2015 FY 2016 FY of 33

21 Financial Highlights 21 of 33

22 P&L Synopsis Q2 FY 2018 (Consolidated) Rs. cr. Q2 FY 2018 % Q2 FY 2017 % % Growth Exports % % 2% Domestic % % 13% Other Op. Income 12 2% 13 2% -9% Income from Operations % EBITDA % % 1% PBT % % 8% PAT % % 1% Total Comprehensive Income % % 7% 22 of 33

23 P&L Synopsis H1 FY 2018 (Consolidated) Rs. cr. H1 FY 2018 % H1 FY 2017 % % Growth Exports % % 5% Domestic % % 0% Other Op. Income 21 2% 30 3% -30% Income from Operations 1, % EBITDA % % -10% PBT % % -8% PAT % % -9% Total Comprehensive Income % % -8% 23 of 33

24 Detailed P&L Q2 FY 2018 (Consolidated) Q2 Rs. cr. FY 2018 FY 2017 Income from Operations Other Income 9 2% 7 1% Total Income Materials consumed % % Employee Benefit 89 16% 72 14% Finance Cost 0 0% 0 0% Depreciation 15 3% 14 3% Other Expenses % % Total expenses % % Profit before tax % % Tax Expense 46 8% 34 7% Net Profit % % Other Comprehensive Income 2 (6) Total Comprehensive Income % % 24 of 33

25 Detailed P&L H1 FY 2018 (Consolidated) H1 Rs. cr. FY 2018 FY 2017 Income from Operations 1, Other Income 11 1% 9 1% Total Income 1,024 1,001 Materials consumed % % Employee Benefit % % Finance Cost 0 0% 1 0% Depreciation 28 3% 27 3% Other Expenses % % Total expenses % % Profit before tax % % Tax Expense 70 7% 73 7% Net Profit % % Other Comprehensive Income 3 (1) Total Comprehensive Income % % 25 of 33

26 Balance Sheet (Consolidated) Rs. cr. Statement of Assets & Liabilities H1 FY 2018 FY 2017 ASSETS Non-Current Assets Property, Plant and Equipment Capital Work-in-Progress Other Intangible Assets 8 6 Intangible assets under development - 1 Financial Assets Others 12 9 Deferred tax assets (net) Other non-current assets Sub-total - Non-current assets 1,080 51% % Current Assets Inventories days days Financial Assets Investments Trade Receivables days days Cash and cash equivalents Bank balances 0 4 Others - 1 Current Tax Assets (Net) 7 11 Other current assets Sub-total - Current Assets 1,055 49% % TOTAL - ASSETS 2,135 1, of 33

27 Balance Sheet (Consolidated) Rs. cr. Statement of Assets & Liabilities H1 FY 2018 FY 2017 EQUITY AND LIABILITIES Equity Equity Share Capital Other Equity 1,781 1,550 Sub Total Shareholders Funds 1,798 84% 1,568 86% Non-current Liabilities Financial Liabilities Borrowings 1 1 Other Financial Liabilities - 0 Provisions 5 3 Deferred tax liabilities (net) Sub Total Non-Current Liab. 48 2% 32 2% Current Liabilities Trade payables days days Other financial liabilities Other current liabilities Provisions Sub Total Current Liabilities % % Total Liabilities TOTAL Equity and Liabilities 2,135 1, of 33

28 Consistent Track Record (Consolidated) Consolidated Total Income (Rs. cr.) PAT (Rs. cr.) & PAT Margin (%) 12% 19% 21% 24% 25% 1,502 1,771 2, , of 33

29 Consistent Track Record (Consolidated) EBITDA Margin (%) 24% 31% 34% 34% 35% Net Margin (%) 19% 21% 24% 25% 12% RONW (%) 32% 47% 43% 40% 37% ROCE (%) 37% 45% 50% 44% 41% of 33

30 Consistent Track Record (Consolidated) EPS (Rs.) 58 Dividend per share (Rs.) (FV Rs. 2/-) Dividend Payout (%) 25% Book Value per share (Rs.) % 18% 19% 18% of 33

31 Consistent Track Record (Consolidated) 0.32 Total Debt / Equity (Ratio) Receivable Days (Nos.) Inventory Days (Nos.) 134 Payable Days (Nos.) of 33

32 For updates and company information please visit our website: Thank You For specific queries, contact: Rajeev Agarwal Ajanta Pharma Limited Ajanta House, Charkop, Kandivli (W), Mumbai CIN No. - L24230MH1979PLC of 33

33 Disclaimer 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. This material is used during oral presentation; it is not a complete record of the discussion. 33 of 33