Dr. Reddy's Laboratories Ltd. · NSE:DRREDDY
Dr. Reddy's Laboratories — Q2 FY11 Earnings Presentation
13 slides from Dr. Reddy's Laboratories's earnings presentation, Oct 23, 2010
Slide 1: Q2 FY11 Results Update
Q2 FY11 Results Update Oct 23, 2010
Slide 2: Safe Harbor Statement
Safe Harbor Statement This presentation contains forward-looking statements and information that involve risks, uncertainties and assumptions. Forward-looking statements are all statements that concern plans, objectives, goals, strategies, future events or performance and underlying assumptions and
Slide 3: Q2 FY11: Key Highlights
Q2 FY11: Key Highlights Revenues at Rs. 1,870 crs ; YoY growth at 2% EBITDA at Rs. 425 crs ; 23% to sales ; YoY growth at 12% PAT at Rs. 287 crs ; 15% to sales ; YoY growth at 32% Globally 41 new product launches & 34 product filings All performance numbers discussed in this presentation are
Slide 4: P&L Q2 FY11
P&L Q2 FY11 All figures in Rs. Crs. except EPS Q2 FY11 Q2 FY10 Gr% Revenue 1,870 1,837 2% Gross Profit 999 872 15% % to sales 53% 47% SG&A 571 534 7% % to sales 31% 29% R&D 127 96 32% % to sales 7% 5% EBITDA 425 380 12% % to sales 23% 21% PAT 287 217 32% % to sales 15% 12% EPS 16.9 12.8 32% 4
Slide 5: Segmental Analysis: Global Generics
Segmental Analysis : Global Generics Q2 FY11 Revenues at Rs. 1,367 crs ; YoY gr 8% • Rs. 442 crs • Rs. 316 crs • YoY gr 3% • YoY gr 25% North India America Russia Europe & CIS • Rs. 275 crs • Rs. 237 crs • YoY gr 17% • YoY gr (17%) 5
Slide 6: Global Generics: North America
Global Generics : North America Strong Q-o-Q growth Rs. Crs. 3% $ mn 11% $ gr 7% 11% 21% 442 429 95 85 77 64 Q2 FY10 Q2 FY11 Q3 FY10 Q4 FY10 Q1 FY11 Q2 FY11 Revenue growth driven largely by new products of Amlodipine Benazepril & Tacrolimus Base business Visibility of improving market shares
Slide 7: Global Generics: India
Global Generics : India Consistent Q-o-Q growth Rs. crs Rs. Crs. 25% 316 316 252 278 252 263 261 239 Q2 FY10 Q2 FY11 Q1 FY10Q2 FY10Q3 FY10Q4 FY10Q1 FY11Q2 FY11 25% growth : Volume 16% & New products (last 12 month launches) 9% 13 new product launches in Q2 ; Launch of 3rd biosimilar, darbepo
Slide 8: Global Generics: Russia
Global Generics : Russia Pharmexpert (YTD Aug 10) Rs. Crs. 23% $ gr 28% Secondary Sales Growth : 227 Dr. Reddy’s 25% (Vol 37%) 184 Industry 16% (Vol 18%) Dr. Reddy’s Rank 12th Q2 FY10 Q2 FY11 Growth driven by volume increase largely in key brands of Nise, Omez, Cetrine & Ketorol an
Slide 9: Global Generics: Europe
Global Generics : Europe Germany Rest of Europe Rs. Crs. Rs. Crs. (26%) € gr (14%) 15% € gr (33%) 220 163 74 65 Q2 FY10 Q2 FY11 Q2 FY10 Q2 FY11 Germany Decline due to price erosions caused by the impact of tenders Improved profitability as a result of SG&A optimization in previous year Imp
Slide 10: Pharmaceutical Services & Active Ingredients
Pharmaceutical Services & Active Ingredients DMFs Pipeline : Rs. Crs. (14%) $ gr (11%) Cumulative 394 US 156 538 462 Europe 95 Canada 59 Q2 FY10 Q2 FY11 RoW 84 Decline largely driven by the Pharmaceutical Services segment on account of lower order flow due to weak macro-economic condit
Slide 11: Other Updates
Other Updates North America Generics Lansoprazole launched in this week Fondaparinux USFDA inspection Fexofenadine Pseudophedrine (higher strength) litigation likely in Jan 11 GSK Alliance : Shipped products to 7 markets Cumulatively filed ~ 95 dossiers till date in various emerging
Slide 12: Q&A Session
Q&A Session Oct 23, 2010 LIFE , RESEARCH «. HOPE
Slide 13: Key Balance Sheet Items
Key Balance Sheet Items Rs. Crs. Sep 10 Jun 10 Cash & Cash Equivalents 620 637 Trade receivables 1,338 1,277 Inventories 1,473 1,445 Property, plant & equipment 2,541 2,394 Loans & borrowings (current & non current) 1,449 1,387 Trade payables 991 969 • Capex for the quarter is at Rs. 216 crores • De
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