Ipca Laboratories Limited · NSE:IPCALAB
Ipca Laboratories — Investor Presentation (November 2016)
52 slides from Ipca Laboratories's investor presentation, November 2016
Slide 1: Ipca Laboratories Ltd. Corporate Presentation
Ipca Laboratories Ltd. Corporate Presentation Nov 2016
Slide 2: Company Overview
Company Overview Incorporation : 1949 Present Management : Since 1975 Total income F. Y. 2015-16 : ` 2838.92 Crs / US$ 433 Mn Exports F. Y. 2015-16 : ` 1428.72 Crs / US$ 288 Mn Number of Employees : 13,141 including 5974 in marketing and distribution Business Model : Fully integrated pharmaceutical
Slide 3: Five Years' Highlights
Five Years’ Highlights 2011-12 2012-13 2013-14 2014-15 2015-16 Domestic Income ( ` Crs ) 941.01 1,081.00 1,190.23 1,367.54 1,410.20 Domestic Income (US $ Mn) 143.67 165.04 181.71 208.78 215.30 Export Income ( ` Crs ) 1,401.97 1,716.08 2,066.02 1,752.86 1,428.72 Export Income (US $ Mn) 214.04 262.00
Slide 4: Manufacturing Facilities: Formulations
Manufacturing Facilities Formulations
Slide 5: Manufacturing Facilities: Formulations
Manufacturing Facilities Formulations Location Dosage Form Approvals / Inspections UK-MHRA, TGA-Australia, Athal, Silvassa Tablets & Capsules MCC-South Africa, HPB-Canada, WHO-Geneva Tablets, Liquids, Injectables Ratlam, Madhya Pradesh MCC-South Africa & Ointments Kandla, Gujarat Betalactum – Tablet
Slide 6: Manufacturing Facilities: Formulations
Manufacturing Facilities Formulations Location Dosage Form Approvals / Inspections Tablets & Dehradun, Uttaranchal WHO-GMP Cephalosporin Injectables Indore (SEZ), Madhya UK-MHRA Tablets & Capsules Pradesh US-FDA* Sikkim Tablets & Capsules GMP Pithampur, Dhar , Madhya WHO-GMP High Potency Oral Solid
Slide 7: Manufacturing Facilities: APIs
Manufacturing Facilities Active Pharmaceutical Ingredients (APIs)
Slide 8: Manufacturing Facilities: APIs
Manufacturing Facilities APIs Location Approvals / Inspections TGA-Australia, EDQM, Danish Regulatory Authority, Ratlam, Madhya Pradesh PMDA-Japan, WHO-Geneva, US-FDA* Indore, Madhya Pradesh WHO-GMP Ankleshwar, Gujarat PMDA –Japan Nandesari, Gujarat WHO-GMP Aurangabad, Maharashtra WHO-GMP Mahad, Mah
Slide 9: Revenue Break-up
Revenue Break-up
Slide 10: Revenue Break-up
Revenue Break-up 2015 - 16 77% 76% 60% Total Formulations 51% APIs Total Exports Revenue Revenue 40% Domestic 24% 23% 49% 84% 65% 71% 90% Exports Formulations Domestic Formulations APIs APIs 29% 35% 16% 10%
Slide 11: Revenue Break-up
Revenue Break-up 2015-16 2014-15 ` Crs Domestic Exports Total Domestic Exports Total Growth Branded Formulations 1206.70 236.36 1443.06 1128.73 343.81 1472.54 -2.0% Generic Formulations - 685.69 685.69 - 895.40 895.40 -23.4% Total Formulations 1206.70 922.05 2128.75 1128.73 1239.21 2367.94 -10.1% AP
Slide 12: Financials
c£ipca dose of life Financials
Slide 13: Financials F.Y. 2015-16
Financials F.Y. 2015 - 16 F.Y. 2014 - 15 % ` Crs US$ Mn ` Crs US$ Mn Growth Total Income 2838.92 433 3120.40 476 -9% EBIDT 324.08 49 523.71 80 -38% EBIDT % 11.51% 16.96% PBT # 108.52 17 357.73 55 -70% PBT % 3.85% 11.59% PAT # 91.45 14 256.11 39 -64% PAT % 3.25% 8.29% # After forex Loss of ` 39.22 Cr
Slide 14: Financials: Profitability to Net Income
Financials Profitability to Net Income FY 2015-16 FY 2014-15 FY 2013-14 PBIDT 11.51% 16.96% 24.89% PBT 3.85% 11.59% 19.45% PAT 3.25% 8.29% 14.76%
Slide 15: Financials: Business Characteristics
Financials Business Characteristics FY 2015-16 FY 2014-15 FY 2013-14 Return on Capital Employed % (PBIT / Capital Employed) 4.37% 12.71% 25.28% Return on Net Worth % (PAT / Net Worth) 3.97% 11.47% 24.09% Fixed Asset Turnover Ratio (Total Income / Net Fixed Assets) 1.35 1.54 2.21 Capital Employed Tur
Slide 16: Financials: Growth
Financials Growth FY 2015-16 FY 2014-15 FY 2013-14 Net Total Income -9.00% -4.20% 16.40% Domestic Sales 3.10% 15.30% 10.90% Export Sales -18.50% -15.20% 20.40% PBIDT -38.10% -35.00% 29.60% PBT -69.70% -43.10% 36.40% Net Profit -64.30% -46.30% 44.10%
Slide 17: Financials Q1 2016-17
Financials Q1 2016 - 17 Q1 2015 - 16 % ` Crs US$ Mn ` Crs US$ Mn Growth Total Income 847.03 129 761.79 116 11% EBIDT 128.51 20 80.13 12 60% EBIDT % 15.26% 10.60% PBT # 76.57 12 29.34 4 161% PBT % 9.09% 3.88% PAT # 47.57 7 20.92 3 127% PAT % 5.65% 2.77% # After forex Loss of ` 8.13 Crs as against Rs.
Slide 18: Financials Q2 2016-17
Financials Q2 2016 - 17 Q2 2015 - 16 % ` Crs US$ Mn ` Crs US$ Mn Growth Total Income 878.22 134 752.40 115 17% EBIDT 128.03 20 84.05 13 52% EBIDT % 14.68% 11.25% PBT # 92.35 14 21.82 3 323% PBT % 10.59% 2.92% PAT # 54.95 8 12.34 2 345% PAT % 6.30% 1.65% # After forex gain of ` 7.81Crs as against for
Slide 19: Financials H1 2016-17
Financials H1 2016 - 17 H1 2015 - 16 % ` Crs US$ Mn ` Crs US$ Mn Growth Total Income 1725.25 263 1514.19 231 14% EBIDT 256.54 39 164.18 25 56% EBIDT % 14.97% 10.92% PBT # 168.92 26 51.16 8 230% PBT % 9.85% 3.40% PAT # 102.52 16 33.26 5 208% PAT % 5.98% 2.21% # After forex Loss of ` 0.32 Crs as again
Slide 20: Contribution of Therapeutic Groups
Financials Contribution of Therapeutic Groups 2014 – 15 2015 – 16 Therapeutic Segment Exports Domestic Exports Domestic 21% 36% Non Steroidal Anti-Inflammatory Drugs (NSAID) 25% 39% 30% 23% Cardiovasculars & Anti-Diabetics 31% 23% 24% 14% Anti-Malarials 17% 12% 11% 7% Anti-Bacterials 12% 6% 2% 5% Ga
Slide 21: Branded Formulations: Domestic
Branded Formulations Domestic
Slide 22: Branded Formulations: Domestic
Branded Formulations Domestic All India Rank ORG-IMS : 21st (MAT Sept ‘16). 25 Depots & 2 C&F agents. 13 Therapy Focused Marketing Divisions. Field Strength (PSR/ BA)– 4253. Over 2000 Wholesalers. 3 brands among top 300 brands (HCQS, Zerodol-P & Zerodol-SP). Market leaders in Anti-malarials & Rheuma
Slide 23: Branded Formulations Domestic Sales
Branded Formulations Domestic ` 1206.70 Crs US$ 1854Mn CAGR = 11.20% ` 1128.73 Crs US$ 172 Mn ` 969.42 Crs US$ 148 Mn ` 878.10 Crs US$ 134 Mn Sales 2012 - 13 2013 - 14 2014 - 15 2015 - 16
Slide 24: Branded Formulations Future Growth Drivers
Branded Formulations Domestic Future Growth Drivers The company introduced 19 new Brands in the India market during 2015-16. Clinical research as a tool to launch innovative combination formulations / NDDS. Strong Brand building with focused promotion. In licensing/ out licensing to build business i
Slide 25: International Business
c£ipca dose of life International Business
Slide 26: International Business
International Business Exports to over 120 countries. Recognized Star Trading House. Among top 10 pharmaceutical exporters from India. 49% sales from exports. Field-force to promote brands in more than 30 countries of CIS, South East Asia, Middle East, Latin America and Africa.
Slide 27: International Business
International Business Marketing offices in Russia, Ukraine, Vietnam, Philippines, Kenya, Columbia, Sri Lanka, Malaysia and Nigeria (subsidiary company). Formulation dossiers for branded formulations registered in 62 countries.
Slide 28: International Business Sales
International Business ` 2066.02 Crs US$ 315 Mn CAGR = -5.90% ` 1752.86 Crs US$ 268 Mn ` 1716.08 Crs US$ 262 Mn ` 1428.72 Crs US$ 218 Mn Sales 2012 - 13 2013 - 14 2014 - 15 2015 - 16
Slide 29: Continent-wise Exports 2015-16
International Business Continent-wise Exports 2015 – 16 (` Crs) Bulk Drugs / % Continent Formulations Intermediates Total Contribution Europe 373.50 175.10 548.60 38% Africa 198.82 20.10 218.92 15% Americas 113.30 151.96 265.26 19% Asia 55.87 148.03 203.90 14% CIS 92.99 6.63 99.62 7% Australasia 87.
Slide 30: International Formulations
International Formulations
Slide 31: International Formulations Sales
International Formulations CAGR = -8.20% ` 1465.79 Crs US$ 224 Mn ` 1239.21 Crs ` 1194.18 Crs US$ 189 Mn US$ 182 Mn ` 922.05 Crs US$ 141 Mn Sales 2012 - 13 2013 - 14 2014 - 15 2015 - 16
Slide 32: International Branded Formulations
International Branded Formulations
Slide 33: International Branded Formulations Sales
International Branded Formulations ` 346.06 Crs CAGR = -5.60% ` 343.81 Crs US$ 53 Mn US$ 52 Mn ` 281.17 Crs US$ 43 Mn ` 236.36 Crs US$ 36 Mn Sales 2012 - 13 2013 - 14 2014 – 15 2015 - 16
Slide 34: International Branded Formulations Future Growth Drivers
International Branded Formulations Future Growth Drivers Thrust on brand building in Pain, CVS, CNS, Anti-infective and Anti-malarial segments. Geographical expansion in covered countries through additional field force. Expansion in business lines - Institutions and Distributors. Introduction of new
Slide 35: International Generics
C£ipca Adose of life International Generics
Slide 36: International Generics Sales
International Generics CAGR = -9.10% Products ` 1119.73 Crs Products Country Under Registered US$ 171 Mn Registration ` 913.01 Crs US$ 139 Mn ` 895.40 Crs United Kingdom 61 1 US$ 137 Mn / Europe ` 685.69 Crs Australia / 58 9 US$ 105 Mn New Zealand South Africa 42 20 Sales United States / Canada 31 2
Slide 37: International Generics Future Growth Drivers
International Generics Future Growth Drivers Dossiers developed by company approved in UK are being taken for registration in other EU countries. Most formulations registered to be backed by own API. Sale of generic dossiers with or without supply agreements. Contract manufacturing arrangements.
Slide 38: Future Growth Drivers – North America
International Generics Future Growth Drivers – North America Strategic tie up with 3 marketing partners for sale/distribution of Generic formulations. 43 ANDAs filed of which 18 ANDAs are approved. 8 to 10 ANDAs targeted for filing for every year. 505 (b) (2) projects/ Sustained Release Formulations
Slide 39: International APIs
c£ipca dose of life International APIs
Slide 40: International APIs Sales
International APIs CAGR = -0.98% ` 600.23 Crs US$ 92 Mn ` 521.90 Crs ` 513.65 Crs US$ 80 Mn US$ 78Mn ` 506.67 Crs US$ 77 Mn Sales 2012 - 13 2013 - 14 2014 - 15 2015 - 16
Slide 41: APIs – Drug Master Files
International APIs – Drug Master Files US- UK - Canada- Japan - EDQM - Sr. No. Name of the API FDA MHRA HPFB WHO PMDA Australia Europe 1 Atenolol a a a CEP a 2 Artemether a 3 Artesunate a 4 Artesunate Sterile a 5 Amodiaquine Hcl a 6 Amlodipine Besylate a a 7 Allopurinol a a CEP a 8 Beventalol Hcl a
Slide 42: APIs – Drug Master Files
International APIs – Drug Master Files US- UK - Canada- Japan - EDQM - Sr. No. Name of the API FDA MHRA HPFB WHO PMDA Australia Europe 16 Chloroquine Sulphate a 17 Chlorthalidone a a a 18 Citalopram HBR a 19 Dihydroartemesinin a 20 Etodolac a a 21 Famotidine a a 22 Fenofibrate a a 23 Fluconazole a 2
Slide 43: APIs – Drug Master Files
International APIs – Drug Master Files US- UK - Canada- Japan - EDQM - Sr. No. Name of the API FDA MHRA HPFB WHO PMDA Australia Europe 31 Losartan Potassium a a CEP a 32 Lumefantrine a 33 Methylphenidate a a 34 Mesalamine/ Mesalazine a a 35 Metformin HCL a a a 36 Metoclopramide HCl a a CEP a 37 Meto
Slide 44: APIs – Drug Master Files
International APIs – Drug Master Files US- UK - Canada- Japan - EDQM - Sr. No. Name of the API FDA MHRA HPFB WHO PMDA Australia Europe 46 Paroxetine Hcl a 47 Primaquine Phosphate a a 48 Piperaquine Phosphate a 49 Probenecid a 50 Proguanil Hydrochloride a a 51 Propranolol HCl a a a CEP a 52 Pyrantel
Slide 45: APIs – Drug Master Files
International APIs – Drug Master Files US- UK - Canada- Japan - EDQM - Sr. No. Name of the API FDA MHRA HPFB WHO PMDA Australia Europe 61 Telmisartan a 62 Torsemide a a 63 Tramadol Hydrochloride a a a 64 Trimethoprim a a CEP a 65 Triamterene a a 66 Triclabendazole a 67 Valsartan a a 68 Warfarin Sodi
Slide 46: APIs Future Growth Drivers
International APIs Future Growth Drivers Pursuing MNC tie-ups for supply agreements. Non-infringing process Patent filed for APIs.
Slide 47: APIs Future Growth Drivers
International APIs Future Growth Drivers Own API manufacturing to back formulations, especially for the Generic market. Exploring strategic business relationship with smaller API manufacturers for increasing product basket.
Slide 48: Research & Development
Research & Development APIs & Formulations
Slide 49: R&D Spending
Research & Development APIs & Formulations R & D Spending Year ` Crs % to Sales 2011-12 77.96 3.39% 2012-13 100.74 3.68% 2013-14 123.24 3.85% 2014-15 157.19 5.16% 2015-16 137.67 4.97%
Slide 50: Research & Development
Research & Development APIs & Formulations Current scientist manpower of over 700. Research focus on developing APIs with non-infringing process and development of finished dosage forms. Development of NDDS for domestic and international market. 228 patent applications filed.
Slide 51: R&D Future Strategy
Research & Development APIs & Formulations Future Strategy Bio-tech / fermentation research facility established and working under contract research on two products. Undertaking contract research activities for APIs & Formulations for international clients.
Slide 52: Thank you
Thank you No part of this corporate presentation may be re-produced, quoted or circulated without prior approval of Ipca Laboratories Limited. This presentation may include forward looking statements based on our current business expectations. Our actual results may differ from what is projected in
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