Aurobindo Pharma Ltd · NSE:AUROPHARMA
Aurobindo Pharma — Investor Presentation (November 2018)
27 slides from Aurobindo Pharma's investor presentation, November 2018
Slide 1: Leading Vertically Integrated Generic Player
LEADING VERTICALLY INTEGRATED GENERIC PLAYER November 2018
Slide 2: Disclaimer
Disclaimer This presentation contains statements that constitute “forward looking statements” including and without limitation, statements relating to the implementation of strategic initiatives, and other statements relating to our future business developments and economic performance. While these
Slide 3: Aurobindo Pharma at a Glance
Aurobindo Pharma at a Glance 10th 2nd 4th Largest listed Indian Largest generic company by Largest generic company by Pharmaceutical company by sales globally# Rx dispensed in the US** revenues* Amongst Top 10 Gx companies in 4 out of $ 2.6 Bn 150+ Global Revenues in FY18 Top 5 Europe Countries@ Mar
Slide 4: The Journey So Far…
The Journey So Far… 2014 - 16 Acquired Western European commercial operations from Actavis Acquired Natrol Established OTC presence Entered into Biosimilars and Vaccines Filed first peptide DMF 2006-08 2017-18 Acquired UK based Milpharm Acquired Generis in Portugal Acquired formulati
Slide 5: Strong Operational Growth & Diversified Revenue Base
Strong Operational Growth & Diversified Revenue Base INR Cr FY14 CAGR FY18# Revenue from 8,100 19% 16,500 operations EBITDA 2,134 15% 3,789 EBITDA 26.4% 23.0% Margin (%) PAT** 1,173 20% 2,423 PAT Margin 14.5% 14.7% (%) ANDA Filed 336 478 Formulations Formulations Revenue : 65% : 82% Breakup API: 35%
Slide 6: Our Business Segments
Our Business Segments EU US Among top 15** Gx companies by Ranked 4th* Rx supplier as per sales IQVIA total prescriptions Focus markets are France, Germany, dispensed Netherlands, Spain, UK, Portugal and Differentiated pipeline with new Italy launches including injectables, Augment positio
Slide 7: US Business Overview
US Business Overview AuroLife Pharma Aurobindo USA AuroMedics AuroHealth Natrol Manufacturing / Oral Rx Injectables Pharma OTC Dietary Supplements R&D Cumulative ANDA Filings and Approvals Revenue (INR Cr) 510 8,000 22% CAGR in FY14-FY18 50 478 429 46 45 398 125 6,000 376 117 45 336 115 29 41 44 34
Slide 8: US Business – Segment Wise Highlights
US Business – Segment Wise Highlights Orals – Aurobindo Pharma USA Injectables - AuroMedics • 73% of overall US business in FY18 • 14% of overall US business in FY18 (1) • 273 approved ANDAs, 28 TAs, and 74 under • 2nd largest Gx injectable company by volume* review** • 59 approved ANDAs, 1 TA, and
Slide 9: US: Expanding Portfolio Mix Towards Differentiated Products
US: Expanding Portfolio Mix Towards Differentiated Products Portfolio mix is complemented with the introduction of high-value products ANDAs Addressable Market in US$ Bn 15.7 24.6 24.2 156 6.4* 92 3.8 0.7 80 1.5 8.7 3.1 0.4 0.7 42 30 0.5 30 0.3 19 17 17 11 12 2 2 Anti Diabetic ARV CNS Controlled CVS
Slide 10: EU Business Overview
EU Business Overview France Germany Netherlands Spain UK Portugal Italy Romania Belgium India’s Leading Gx company with strong footprint in Europe Revenue Operations in 9 countries with full fledged Pharmacy, Hospital and Tender 60% CAGR in FY14-FY18 sales infrastructure with commercialized 450+
Slide 11: EU: Portfolio Mix Across Channels
EU: Portfolio Mix Across Channels Sales split by Channel Sales split by Therapeutic Profile Sales split by Dosage Forms Channels Gx BGx Hx TGx Germany, Spain Geographies All 9 countries 7 countries All 9 countries & Netherlands 769 (primarily 347 (predominantly 767 (including Gx # of Products 37 tab
Slide 12: ARV Business Overview
ARV Business Overview Revenue (INR Cr) Focus on global tenders floated by Multi-Lateral Organizations like Global Fund, USAID/PEPFAR and Country specific MOH tenders 1400 ARV Revenue % of Total Revenue 15 Supplies life-saving ARV’s to ~3 Mn HIV patients spread over more 1050 10 than 125 countrie
Slide 13: Growth Markets Business Overview
Growth Markets Business Overview Canada Ukraine GCC Countries Myanmar Mexico East Africa Colombia Brazil South Africa Growth markets Revenue (INR Cr) Growth Drivers 18% CAGR in FY14-FY18 8 800 6 Build branded generics presence 5 5 5 6 600 6 6 Enhance penetration in selected markets through local
Slide 14: The Base Business: API
The Base Business : API Revenue (INR Cr) API capacity is strategic in-terms of vertical integration and supply to regulated markets 4,000 35 40 Additional investments are made for capacity creation and 3,000 30 capability building 22 20 20 18 17 2,000 20 API business continue to focus on compl
Slide 15: Enhanced Research & Development Capabilities
Enhanced Research & Development Capabilities 5 R&D centers in Hyderabad, India >1500 scientists and analysts Focused on difficult to develop APIs, peptides, etc. Develop modern process technologies like enzyme chemistry Dosage Form R&D for developing niche oral, sterile and specialty injectabl
Slide 16: Consolidated Financial Performance
Consolidated Financial Performance Q2 Q2 % Q1 % Value INR Cr FY19 FY18 Chg FY19 Chg Formulations 3,934.8 3,663.3 7.4 3,500.8 12.4 API 816.6 771.8 5.8 748.0 9.2 Formulations % of sales 82.8% 82.6% 82.4% Revenue from Operations 4,751.4 4,435.9 7.1 4,250.3 11.8 Gross Profit 2,708.5 2,668.0 1.5 2,343.0
Slide 17: Financial Performance
Financial Performance Revenue from operations (INR Cr) EBITDA & PAT Margin (%) EPS (INR/Share) 16,500 15,090 EBITDA Margin PAT Margin 13,955 12,121 26.4 41.4 22.8 22.8 23.0 39.3 21.2 20.1 34.7 9,002 8,100 14.5 14.5 15.3 14.7 13.0 11.9 27.0 20.1 18.2 FY14** 1HFY19* FY16* FY17* FY18* FY15 FY16* FY17*
Slide 18: Debt Profile
Debt Profile Fx Loan US$ Mn Debt as on (INR Cr) Mar-16 Mar-17 Mar-18 Jun-18 Sep-18 Closing Rate1 US$ = 66.25 64.85 65.17 68.47 72.485 INR Fx Loan restated in 4,956.7 3,121.5 4,766.9 5,284.0 5,493.4 748 481 731 772 758 INR Rupee Loan 46.9 244.8 4.1 14.1 282.2 Sales Tax Deferment 41.9 0.0 0.0 0.0 0.0
Slide 19: Shifting Paradigms ...
Shifting Paradigms ... Past Present Future Full spectrum of APIs, including peptides and special-polymers Specialty Products: Complex dosage forms and delivery platforms Difficult-to-make and non- Biologics, Vaccines small molecule APIs, Branded Rx and OTC products Complex Oral, and simple Core stre
Slide 20: Focus on Building a Diverse and Robust Specialty Products Portfolio
Focus on Building a Diverse and Robust Specialty Products Portfolio Short Term - 2018 - Strengthen & Diversify Portfolio biosimilars, oncology, peptides, respiratory, Controlled Substances topicals, vaccines etc with ADF - R&D and Manufacturing capability & capacity in India Complex and US Oral Soli
Slide 21: Annexure
Annexure 20
Slide 22: Revenue Break-Up
Revenue Break-Up FY17 FY18 FY 19 INR Bn Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Q1 Q2 USA 17.0 17.4 17.5 16.4 68.3 16.9 21.0 19.1 17.4 74.4 18.9 22.3 Europe 8.3 8.1 8.6 7.8 32.8 9.2 11.1 11.7 11.5 43.5 11.9 11.6 Growth 1.9 1.8 1.9 2.0 7.6 1.9 2.4 2.5 2.1 9.0 2.6 3.7 Markets ARV 3.0 2.8 3.4 2.6 11.9 2.4 2.1 2.
Slide 23: 5 Year Financial Snapshot
5 Year Financial Snapshot Value INR Bn FY14 FY15 FY16* FY17* FY18* Net Operating Income 81.0 121.2 139.6 150.9 165.0 Gross margin % of operating income 55.5% 54.6% 55.8% 57.4% 59.1% EBITDA (before Fx and other income) % 26.4% 21.2% 22.8% 22.8% 23.0% to Operating income Depreciation / Amortization 3.
Slide 24: Filing details as on 30th Sep 2018
Filing details as on 30th Sep 2018 As at As at As at As at As at As at Category Approvals Mar 14 Mar 15 Mar 16 Mar 17 Mar 18 Jun 18 Formulations 385 (FA: 356, US* 336 376 398 429 478 510 TA:29) 2,227 Europe** 1,542 1,756 2,224 2,521 2,848 2,944 Dossiers (239 products) 203 SA** 334 345 376 401 415 42
Slide 25: Extensive Manufacturing Base with High Quality Control and Compliance
Extensive Manufacturing Base with High Quality Control and Compliance Finished Dose Formulations Active Pharma Ingredients Site Product Capabilities Site Product Capabilities Unit III Non antibiotics, ARVs / Orals Unit I CVS, CNS, Anti-Allergics, Non-Sterile Unit IV Injectables (Non-antibiotics)&Oph
Slide 26: Shareholding Pattern
Shareholding Pattern As on As on As on Group 31 Mar 17 31 Mar 18 30 Sep 18 Non-Promoter Holding 48.1% Promoter Group 51.9% 51.9% 51.9% FII 21.0% 18.0% 19.1% MF & Insurance 12.4% 15.4% 14.7% Other Bodies Corporates 3.6% 3.1% 3.5% Retail, FII, 19.1 10.8 Retail Investors 11.1% 11.6% 10.8% Total 100% 10
Slide 27: Thank You
Thank You For updates and specific queries, please visit our website www. aurobindo.com Investor Relations: Krishna Kiran Phone: +91-40-66725000/5401 +91 98486 67906 Email: [email protected] Corporate Office: Water Mark Building, Level-6, Plot No.11, Survey No. 9, Kondapur, Hitech City, Hyderabad - 5
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