Dr. Reddy's Laboratories Ltd. · NSE:DRREDDY
Dr. Reddy's Laboratories — Q1 FY2012 Earnings Presentation
14 slides from Dr. Reddy's Laboratories's earnings presentation, Jul 20, 2011
Slide 1: Q1 FY12 Results Update
Q1 FY12 Results Update July 20, 2011
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: Consolidated Key Financial Highlights Q1 FY12
Consolidated Key Financial Highlights Æ Q1 FY12 Revenues at `1,978 crs ; YoY growth of 18% Adjusted EBITDA* at `434 crs ; 22% to sales ; YoY growth of 27% Adjusted PAT** at `252 crs ; 13% to sales ; YoY growth of 20% Globally 39 new product launches & 31 product filings * includes a one‐time
Slide 4: Key Updates
Key Updates Approval & launch of fondaparinux Commencement of sales at Bristol penicillin facility Commencement of new AOK tender supplies in Germany Import alert at Mexico facility 4
Slide 5: Global Generics Q1 FY12 Revenues
Segmental Analysis : Revenues Global Generics Q1 FY12 Revenues at `1,442 crs (21% YoY gr) 5
Slide 6: Global Generics: North America
Global Generics : North America ANDA Pipeline `Crs. Q1 Filings Æ 3 576 Cumulative Æ 180 390 Pending Approvals Æ 76 Para IVs Æ 36 Q1 FY11 Q1 FY12 FTFs Æ 11 Impressive growth driven by new launches in FY11 and market share increase in base portfolio Market share improvements across key products Æ
Slide 7: Global Generics: Russia
Global Generics : Russia `Crs. Pharmexpert (MAT May 11) Secondary sales growth : 249 ¾ Dr. Reddy’s Æ 17% 206 ¾ Industry Æ 7% Dr. Reddy’s rank Æ 13th Q1 FY11 Q1 FY12 Growth driven by volume increase across key products ‐ Omez, Keterol, Cetrine & Senade 2 new product launches High growth trac
Slide 8: Global Generics: India
Global Generics : India `Crs. Growing biosimilars portfolio 7% to Sales 5% to Sales 278 294 Q1 FY11 Q1 FY12 Q1 FY11 Q1 FY12 Growth from new products partly offset by weak volume growth in a few key brands • Intense competitive pricing in industry • Field force reorganization yet to yield results
Slide 9: Global Generics: Europe
Global Generics : Europe Germany `Crs. RoEU 132 121 71 62 Q1 FY11 Q1 FY12 Q1 FY11 Q1 FY12 Germany Æ Continuing pricing pressure due to new tenders Commencement of AOK tender supplies in June Growth in Rest of Europe driven by out‐licensing business 9
Slide 10: Pharmaceutical Services & Active Ingredients
Pharmaceutical Services & Active Ingredients `Crs. DMF Pipeline : Cumulative Æ 495 450 483 US Æ 174 Europe Æ 139 Canada Æ 61 Q1 FY11 Q1 FY12 RoW Æ 121 Growth in Active Ingredients driven on the back of new product launches Lower sales off‐take in Pharmaceutical Services due to temporary issue at
Slide 11: Other Updates
Other Updates FY12 Outlook • Business scale‐up expected to be back‐ended in FY12 on the back of new launches of olanzapine, fondaparinux, fexo‐pseudo OTC (HS) & new launches from Bristol facility Infrastructure expansion • Capex spend in Q1 FY12 Æ `183 crs Investments in R&D • Expect R&D inves
Slide 12: Q&A Session
Jul 20, 2011 LIFE ., RESEARCH «» HOPE
Slide 13: P&L Q1 FY12
P&L Æ Q1 FY12 All figures in `Crs. except EPS Q1 FY12 Q1 FY11 Gr% Revenue 1,978 1,683 18% Gross Profit 1,056 891 18% % to sales 53% 53% SG&A 676 548 23% % to sales 34% 33% R&D 120 99 21% % to sales 6% 6% EBITDA 420 342 23% % to sales 21% 20% PAT 263 210 25% % to sales 13% 12% EPS 15.5 12.3 25% 13
Slide 14: Key Balance Sheet Items
Key Balance Sheet Items `Crs. June 11 Mar 11 Cash & Cash Equivalents 547 573 Trade & Other receivables 1,714 1,762 Inventories 1,740 1,606 Property, plant & equipment 3,052 2,964 Loans & borrowings (current & non current) 2,394 2,357 Trade accounts payable 843 848 Net Debt – Equity ratio at 0.38 in
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