Ajanta Pharma Limited · NSE:AJANTPHARM
Ajanta Pharma — Q2 FY2017 Earnings Presentation
30 slides from Ajanta Pharma's earnings presentation, Oct 26, 2016
Slide 1: Investor Presentation Q2 FY 2017
Investor Presentation Q2 FY 2017 26th October 2016 www.ajantapharma.com 26th October 2016
Slide 2: Content
Content India Infrastructure 3 1 2 Exports Financial Highlights 4 26th October 2016 2 of 30
Slide 3: India
26th October 2016 1 3 of 30 India
Slide 4: India Branded Generic Business
India Branded Generic Business Cardiology Specialty Ophthalmology Segment Dermatology Pain Management 14 Divisions Focused 3,000+ MRs Marketing 200+ Products About 70% products First to Market Leadership in sub therapeutic segments Established Strong Brand Equity 26th October 201
Slide 5: India Sales – Q2
India Sales – Q2 India Branded Sales# (Rs. cr.) 21% 154 127 Therapeutic Break-up (Rs. cr.) 22% 66 12% 54 32% Q2 FY 2016 Q2 FY 2017 39 36 35 27 14% Total India Sales@ -45% (Rs. cr.) 11 13 7 4 17% 158 135 Ophthalmology Dermatology Cardiology Pain Mgt. Institution Q2 FY 2016 Q2 FY 2017 26th October 201
Slide 6: India Sales – H1
India Sales – H1 India Branded Sales # (Rs. cr.) 20% 311 259 Therapeutic Break-up (Rs. cr.) 27% 132 12% 18% 104 81 72 73 62 H1 FY 2016 H1 FY 2017 17% -60% Total India Sales @ 21 25 24 (Rs. cr.) 9 13% 320 Ophthalmology Dermatology Cardiology Pain Mgt. Institution 283 H1 FY 2016 H1 FY 2017 26th Octobe
Slide 7: IPM - Ranking
IPM - Ranking Rank Sep 2016 Sep 2015 Mar 2005 Ophthal 5 5 28 Derma 13 14 98 Cardio 20 21 38 Pain 44 45 NA Ajanta 33 33 88 26th October 2016 IPM = Indian Pharmaceutical Market Source: IMS 7 of 30
Slide 8: Within Segments Ajanta Way Ahead
Within Segments Ajanta Way Ahead Sept. 2016 - MAT (Source: IMS) 24% 18% 16% 16% 15% 13% 12% 11% 11% 9% 26th October 2016 Pharma Market Dermatology Cardiology Ophthalmology Pain Mgt. IPM Ajanta Pharma IPM – Indian Pharmaceutical Market 8 of 30
Slide 9: Faster than Industry - IPM
Faster than Industry - IPM 36% 29% 26% 23% 18% 14% 13% 12% 10% 10% Mar-2013 Mar-2014 Mar-2015 Mar-2016 Sep-2016 26th October 2016 IPM Ajanta Pharma IPM = Indian Pharmaceutical Market Source: IMS 9 of 30
Slide 10: Exports
26th October 2016 2 10 of 30 Exports
Slide 11: Global Presence
Global Presence USA West Asia CIS (3 Countries) (6 Countries) South East Asia (3 Countries) India Africa (19 Countries) 26th October 2016 11 of 30
Slide 12: Emerging Markets
Emerging Markets Asia – 349 Product Africa – 1,195 Registrations Rich product pipeline under registration and under development in R&D Asia - Cardio, Pain, MED, GI, Antibiotic, Therapeutic Derma, Anti Histamine Segments Africa - Anti Malaria, Multivitamin, Cardio, Antibiotic, Gynaec, MED,
Slide 13: Regulated Markets
Regulated Markets Final Approval: 15 Tentative approval: 2 ANDA Status (Till date) Under approval: 12 Filing target for current year: 8 to 12 Filed till date: 3 9 Products commercialized till date Sales & More products scheduled for launch in coming months Marketing Focus on Oral Sol
Slide 14: Export Sales Q2 FY 2017 (Consolidated)
Export Sales Q2 FY 2017 (Consolidated) Total Sales (Rs. cr.) 13% 344 304 Regional Break-up (Rs. cr.) 0% 175 175 -21% 124 2683% 98 Q2 FY 2016 Q2 FY 2017 71 -52% 3 3 1 26th October 2016 Africa Asia USA Others Q2 FY 2016 Q2 FY 2017 14 of 30
Slide 15: Export Sales H1 FY 2017 (Consolidated)
Export Sales H1 FY 2017 (Consolidated) Total Sales (Rs. cr.) 18% 641 Regional Break-up (Rs. cr.) 545 14% 369 322 -10% 212 191 H1 FY 2016 H1 FY 2017 1399% 80 -69% 5 5 2 26th October 2016 Africa Asia USA Others H1 FY 2016 H1 FY 2017 15 of 30
Slide 16: Infrastructure
3 Infrastructure 26th October 2016 16 of 30
Slide 17: Manufacturing
Manufacturing Formulation Manufacturing 3 existing facilities in Aurangabad, Maharashtra (1 USFDA & WHO Pre-Q approved) 1 Facility at Mauritius Dahej (Gujrat) - undertaking regulatory filing batches Guwahati (Assam) – Work commenced – Investment > Rs. 300 cr. API Manufacturing 1 Facility a
Slide 18: R&D
R&D R&D spend & % of Oper. Income (Excluding Capex) Team size of 750+ scientists 6% Q2 FY 2017 revenue spend Rs. 37 cr. (Rs. 69 cr. – H1 FY 2017) 5% 106 4% 4% 70 5% 50 37 37 26th October 2016 FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 18 of 30
Slide 19: Financial Highlights
4 Financial Highlights 26th October 2016 19 of 47 19 of 30
Slide 20: P&L Synopsis – Q2 FY 2017 (Consolidated)
P&L Synopsis – Q2 FY 2017 (Consolidated) Rs. cr. Q2 FY 2017 % to Sales Q2 FY 2016 % to Sales % Growth Exports 344 67% 304 69% 13% Domestic 158 31% 135 30% 17% Other Op. Income 13 2% 3 1% 320% Income from Operations 516 442 17% EBITDA 183 35% 154 35% 19% PBT 165 32% 148 34% 12% PAT 131 25% 103 23% 26
Slide 21: P&L Synopsis – H1 FY 2017 (Consolidated)
P&L Synopsis – H1 FY 2017 (Consolidated) Rs. cr. H1 FY 2017 % to Sales H1 FY 2016 % to Sales % Growth Exports 641 65% 545 65% 18% Domestic 320 32% 283 34% 13% Other Op. Income 30 3% 9 1% 240% Income from Operations 992 837 18% EBITDA 350 35% 276 33% 26% PBT 323 33% 267 32% 21% PAT 250 25% 189 23% 32
Slide 22: Detailed P&L – Q2 & H1 FY 2017 (Consolidated)
Detailed P&L – Q2 & H1 FY 2017 (Consolidated) (Ind AS) Q2 H1 Rs. cr. FY 2017 FY 2016 FY 2017 FY 2016 Income from Operations 516 442 992 837 Materials consumed 117 23% 100 23% 216 22% 203 24% Employee Benefit 72 14% 64 14% 142 14% 123 15% Finance Cost 1 0% 1 0% 2 0% 2 0% Depreciation 14 3% 11 2% 27 3
Slide 23: Ind AS Reconciliation (Consolidated)
Ind AS Reconciliation (Consolidated) Rs. cr. Reserve Profit Reconciliation Particulars Reconciliation Q2 FY 2016 H1 FY 2016 FY 2016 FY 2016 Net Profit/Reserves as per 99.96 183.80 401.41 1,154.37 Accounting Standard Fair Value Adjustment of 0.75 2.13 4.45 10.37 Financial Assets (refer note ‘a’) Empl
Slide 24: Consistent Track Record (Consolidated)
Consistent Track Record (Consolidated) Income from Operations PAT (Rs. cr.) & PAT Margin (%) (Rs. cr.) 11% 12% 19% 21% 23% 1,743 1,485 401 1,216 310 937 234 685 112 77 2012 2013 2014 2015 2016 2012 2013 2014 2015 2016 26th October 2016 24 of 47 24 of 30
Slide 25: Consistent Track Record (Consolidated)
Consistent Track Record (Consolidated) EBITDA Margin Net Margin 23% (%) 21% (%) 34% 34% 19% 31% 24% 21% 11% 12% 2012 2013 2014 2015 2016 2012 2013 2014 2015 2016 RONW ROCE (%) 50% 47% (%) 43% 45% 40% 42% 37% 32% 29% 22% 26th October 2016 2012 2013 2014 2015 2016 2012 2013 2014 2015 2016 25 of 47 25
Slide 26: Consistent Track Record (Consolidated)
Consistent Track Record (Consolidated) EPS Dividend per share 8 46 (Rs.) (FV Rs. 2/-) (Rs.) 6 35 27 4 3 13 2 9 2012 2013 2014 2015 2016 2012 2013 2014 2015 2016 Dividend Payout Book Value per share (%) (Rs.) 133 19% 19% 18% 15% 96 13% 67 45 34 26th October 2016 2012 2013 2014 2015 2016 2012 2013 201
Slide 27: Consistent Track Record (Consolidated)
Consistent Track Record (Consolidated) Total Debt / Equity Receivable Days 0.67 (Ratio) (Nos.) 77 80 65 60 63 0.32 0.22 0.09 0.08 2012 2013 2014 2015 2016 2012 2013 2014 2015 2016 92 Payable Days Inventory Days (Nos.) (Nos.) 131 134 59 48 99 44 85 40 82 26th October 2016 2012 2013 2014 2015 2016 201
Slide 28: Awards & Recognitions
Awards & Recognitions YOUNG MAKER OF THE YEAR INDIA'S MOST VALUABLE CEO INDIA’S SUPER 50 COMPANIES ONE OF THE GIANTS OF TOMORROW 26th October 2016 28 of 47 28 of 30
Slide 29: Thank You!
For updates and company information please visit our website: www.ajantapharma.com For specific queries, contact: Rajeev Agarwal [email protected] THANK YOU! 022-66061377 Ajanta Pharma Limited Ajanta House, Charkop, Kandivli (W), Mumbai 400 067 CIN No. - L24230MH1979PLC022059 26th Octo
Slide 30: Disclaimer
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 materiall