Ipca Laboratories Limited · NSE:IPCALAB

Ipca Laboratories — Investor Presentation (September 2020)

60 slides from Ipca Laboratories's investor presentation, September 2020

  1. Slide 1: Ipca Laboratories Ltd. Corporate Presentation

    Ipca Laboratories Ltd. Corporate Presentation Sept 2020 1

  2. Slide 2: Company Overview

    Company Overview Incorporation : 1949 Present Management : Since 1975 Total income F. Y. 2019-20 : ` 4432.12 Crs / US$ 626 Mn (Standalone) ` 4715.71 Crs / US$ 666 Mn (Consolidated) Exports F. Y. 2019-20 : ` 2143.75 Crs / US$ 303 Mn Business Model : Integrated pharmaceutical company producing Branded

  3. Slide 3: Five Years' Highlights - Standalone

    Five Years’ Highlights Standalone 2015-16 2016-17 2017-18 2018-19 2019-20 Domestic Income ( ` Crs ) 1,440.88 1,617.13 1,694.54 1,956.90 2,288.37 Domestic Income (US $ Mn) 203.40 228.28 239.21 276.24 323.03 Export Income ( ` Crs ) 1,429.85 1,561.74 1,564.21 1,730.84 2,143.75 Export Income (US $ Mn) 2

  4. Slide 4: Five Years' Highlights - Consolidated

    Five Years’ Highlights Consolidated 2015-16 2016-17 2017-18 2018-19 2019-20 Domestic Income ( ` Crs ) 1,440.88 1,617.13 1,694.68 1,956.90 2,326.10 Domestic Income (US $ Mn) 203.40 228.28 239.23 276.24 328.36 Export Income ( ` Crs ) 1,487.85 1,616.08 1,630.69 1,873.96 2,389.61 Export Income (US $ Mn)

  5. Slide 5: Manufacturing Facilities - Formulations

    Manufacturing Facilities Formulations 5

  6. Slide 6: Manufacturing Facilities - Formulations

    Manufacturing Facilities Formulations Location Dosage Form Approvals / Inspections UK-MHRA, TGA-Australia, Athal WHO-Geneva, EU Certification by German Tablets & Capsules Authority, Health Canada, GCC, MOH- (Dadra & Nagar Haveli) Columbia, FDA Ghana, MOH Oman, NDA- Uganda, NHRA- Bahrain MCC-South Af

  7. Slide 7: Manufacturing Facilities - Formulations

    Manufacturing Facilities Formulations Location Dosage Form Approvals / Inspections Silvassa WHO-GMP, TGA-Australia, Tablets & Capsules (Dadra & Nagar Haveli) Health-Canada Unit – I : WHO-GMP Dehradun, Tablets & Unit - II: WHO-GMP, GHANA-FDA, (Uttarakhand) Cephalosporin Injectables NAFDAC – Nigeria,

  8. Slide 8: Manufacturing Facilities - APIs

    Manufacturing Facilities Active Pharmaceutical Ingredients (APIs) 8

  9. Slide 9: Manufacturing Facilities - APIs

    Manufacturing Facilities APIs Location Approvals / Inspections TGA-Australia, EDQM, PMDA-Japan, WHO-Geneva, Ratlam (Madhya Pradesh) Health Canada, EU-GMP (LaGesso, Berlin), MOH Russia, MFDS (Korea), CDSCO- India, Cofepris (Mexico) Indore (Madhya Pradesh) WHO-Geneva, CDSCO- India, EUWC Ankleshwar (Gu

  10. Slide 10: Revenue Break-up

    Revenue Break-up 10

  11. Slide 11: Revenue Break-up - Standalone

    Revenue Break-up - Standalone 2019 - 20 73% 76% 60% Total Formulations 48% APIs Total Exports Revenue Revenue 40% Domestic 24% 27% 52% 84% 57% 71% 88% Exports Formulations Domestic Formulations APIs APIs 29% 43% 16% 12% 11

  12. Slide 12: Revenue Break-up - Standalone

    Revenue Break-up Standalone 2019-20 2018-19 ` Crs Domestic Exports Total Domestic Exports Total Growth Branded Formulations 1912.61 381.53 2294.14 1646.83 360.94 2007.77 14.3% Generic Formulations - 840.02 840.02 - 687.32 687.32 22.2% Total Formulations 1912.61 1221.55 3134.16 1646.83 1048.26 2695.0

  13. Slide 13: Financials

    c£ipca dose of life Financials

  14. Slide 14: Financials - Standalone FY 2019-20

    Financials - Standalone F.Y. 2019 - 20 F.Y. 2018 - 19 % ` Crs US$ Mn ` Crs US$ Mn Growth Total Income 4432.12 626 3687.74 521 20% EBIDT 993.41 140 765.26 108 30% EBIDT % 22.41% 20.75% PBT # 784.97 111 557.39 79 41% PBT % 17.71% 15.11% PAT # 652.46 92 454.91 64 43% PAT % 14.72% 12.34% # After forex l

  15. Slide 15: Financials - Standalone Profitability

    Financials - Standalone Profitability FY 2019-20 FY 2018-19 PBIDT 22.41% 20.75% PBT 17.71% 15.11% PAT 14.72% 12.34% 15

  16. Slide 16: Financials - Standalone Business Characteristics

    Financials - Standalone Business Characteristics FY 2019-20 FY 2018-19 Return on Capital Employed % (PBIT / Capital Employed) 20.26% 16.31% Return on Net Worth % (PAT / Net Worth) 17.80% 14.50% Fixed Asset Turnover Ratio (Total Income / Net Fixed Assets) 2.3 2.04 Capital Employed Turnover Ratio (Tot

  17. Slide 17: Financials - Standalone Growth

    Financials - Standalone Growth FY 2019-20 FY 2018-19 Net Total Income 20.2% 13.2% Domestic Sales 17.0% 15.3% Export Sales 23.9% 10.7% PBIDT 29.8% 59.8% PBT 40.8% 97.1% Net Profit 43.4% 95.1% 17

  18. Slide 18: Financials - Standalone Q1 FY21

    Financials - Standalone Q1 FY21 Q1 FY20 % ` Crs US$ Mn ` Crs US$ Mn Growth Total Income 1496.93 211 1030.44 145 45% EBIDT 593.60 84 205.20 29 189% EBIDT % 39.65% 19.91% PBT # 551.94 78 167.96 24 229% PBT % 36.87% 16.30% PAT # 453.64 64 132.05 19 244% PAT % 30.30% 12.81% # After forex gain of ` 6.03

  19. Slide 19: Financials - Standalone Q2 FY21

    Financials - Standalone Q2 FY21 Q2 FY20 % ` Crs US$ Mn ` Crs US$ Mn Growth Total Income 1312.77 185 1226.89 173 7% EBIDT 358.14 51 278.37 39 29% EBIDT % 27.28% 22.69% PBT # 327.09 46 226.73 32 44% PBT % 24.92% 18.48% PAT # 275.68 39 196.02 28 41% PAT % 21.00% 15.98% # After forex gain of ` 17.02 Crs

  20. Slide 20: Financials - Standalone H1 FY21

    Financials - Standalone H1 FY21 H1 FY20 % ` Crs US$ Mn ` Crs US$ Mn Growth Total Income 2809.7 397 2257.33 319 24% EBIDT 951.74 134 483.57 68 97% EBIDT % 33.87% 21.42% PBT # 879.03 124 394.69 56 123% PBT % 31.29% 17.48% PAT # 729.32 103 328.07 46 122% PAT % 25.96% 14.53% # After forex gain of ` 23.0

  21. Slide 21: Financials - Consolidated FY 2019-20

    Financials - Consolidated F.Y. 2019 - 20 F.Y. 2018 - 19 % ` Crs US$ Mn ` Crs US$ Mn Growth Total Income 4715.71 666 3830.86 541 23% EBIDT 1016.40 143 768.20 108 32% EBIDT % 21.55% 20.05% PBT # 738.89 104 546.46 77 35% PBT % 15.67% 14.26% PAT # 603.56 85 442.22 62 36% PAT % 12.80% 11.54% # After fore

  22. Slide 22: Financials - Consolidated Business Characteristics

    Financials - Consolidated Business Characteristics FY 2019-20 FY 2018-19 Return on Capital Employed % (PBIT / Capital Employed) 19.30% 16.02% Return on Net Worth % (PAT / Net Worth) 16.58% 14.09% Fixed Asset Turnover Ratio (Total Income / Net Fixed Assets) 2.15 1.91 Capital Employed Turnover Ratio (

  23. Slide 23: Financials - Consolidated Growth

    Financials - Consolidated Growth FY 2019-20 FY 2018-19 Net Total Income 23.1% 15.2% Domestic Sales 19.0% 15.3% Export Sales 27.6% 14.9% PBIDT 32.3% 54.9% PBT 36.2% 86.0% Net Profit 36.5% 84.7% 23

  24. Slide 24: Financials - Consolidated Q1 FY21

    Financials - Consolidated Q1 FY21 Q1 FY20 % ` Crs US$ Mn ` Crs US$ Mn Growth Total Income 1546.49 218 1098.53 155 41% EBIDT 594.42 84 209.93 30 183% EBIDT % 38.44% 19.11% PBT # 545.57 77 166.78 24 227% PBT % 35.28% 15.18% PAT # 445.68 63 129.43 18 244% PAT % 28.82% 11.78% # After forex gain of ` 5.9

  25. Slide 25: Financials - Consolidated Q2 FY21

    Financials - Consolidated Q2 FY21 Q2 FY20 % ` Crs US$ Mn ` Crs US$ Mn Growth Total Income 1376.55 194 1298.70 183 6% EBIDT 358.56 51 282.99 40 27% EBIDT % 26.04% 21.79% PBT # 319.29 45 225.43 32 42% PBT % 23.19% 17.36% PAT # 266.70 38 193.54 27 38% PAT % 19.37% 14.90% # After forex gain of ` 17.08 C

  26. Slide 26: Financials - Consolidated H1 FY21

    Financials - Consolidated H1 FY21 H1 FY20 % ` Crs US$ Mn ` Crs US$ Mn Growth Total Income 2923.04 413 2397.23 338 22% EBIDT 952.98 135 492.92 70 93% EBIDT % 32.60% 20.56% PBT # 864.86 122 392.21 55 121% PBT % 29.59% 16.36% PAT # 712.38 101 322.97 46 121% PAT % 24.37% 13.47% # After forex gain of ` 2

  27. Slide 27: Contribution of Therapeutic Groups

    Financials - Standalone Contribution of Therapeutic Groups Domestic Exports Therapeutic Segment 2019 – 20 2018 – 19 2019 – 20 2018 – 19 Non Steroidal Anti-Inflammatory Drugs (NSAID) 47% 46% 20% 21% Cardiovasculars & Anti-Diabetics 18% 20% 31% 29% Anti-Bacterials 8% 7% 6% 9% Anti-Malarials 6% 6% 19%

  28. Slide 28: Branded Formulations - Domestic

    Branded Formulations Domestic 28

  29. Slide 29: Branded Formulations - Domestic

    Branded Formulations Domestic All India Rank IQVIA : 19th (MAT Sept’20). 25 Depots & 2 C&F agents. 15 Therapy Focused Marketing Divisions. Field Strength (PSR/ BA)– 4797 Over 2000 Wholesalers. 4 brands among top 300 brands (Zerodol-SP, Zerodol-P , HCQS & Folitrax). Market leaders in Rheumatoid Arthr

  30. Slide 30: Branded Formulations Domestic Sales

    Branded Formulations Domestic ` 1912.61 Crs US$ 270 Mn ` 1646.83 Crs US$ 232 Mn ` 1425.38 Crs US$ 201 Mn ` 1388.55 Crs US$ 196Mn Sales 2016 - 17 2017 - 18 2018 - 19 2019 - 20 30

  31. Slide 31: Branded Formulations Future Growth Drivers

    Branded Formulations Domestic Future Growth Drivers Clinical research as a tool to launch innovative combination formulations / NDDS. Strong Brand building with focused promotion. In licensing/ out licensing to build business in the promoted therapy. Portfolio optimization, strategies to identify ne

  32. Slide 32: International Business

    c£ipca dose of life International Business

  33. Slide 33: International Business

    International Business Products of the company are now exported to over 100 countries across the globe. Recognized Star Trading House. 52% sales from exports. Field-force to promote brands in more than 35 countries of CIS, South East Asia, Middle East, Latin America and Africa. 33

  34. Slide 34: International Business

    International Business Marketing offices in Russia, Ukraine, Kazakhstan, Belarus , Vietnam, Philippines, Sri Lanka, Myanmar Kenya, Colombia, and Nigeria & Mexico (subsidiary company). Formulation dossiers for branded formulations registered in 54 countries. 34

  35. Slide 35: International Business Sales

    International Business ` 2143.75 Crs US$ 303 Mn ` 1730.84 Crs US$ 244 Mn ` 1564.21 Crs ` 1561.74 Crs US$ 221 Mn US$ 220 Mn Sales 2016 - 17 2017 - 18 2018 - 19 2019 - 20 35

  36. Slide 36: International Business Continent-wise Exports

    International Business ` Crs) Continent-wise Exports 2019 –20 (` Bulk Drugs / % Continent Formulations Intermediates Total Contribution Europe 390.95 244.53 635.48 31% Africa 308.93 34.00 342.93 18% Americas 119.56 312.20 431.76 17% Asia 76.87 309.64 386.51 17% CIS 167.33 17.16 184.49 9% Australasia

  37. Slide 37: International Formulations

    International Formulations 37

  38. Slide 38: International Formulations Sales

    International Formulations ` 1221.55 Crs US$ 172 Mn ` 1048.26 Crs ` 995.89 Crs US$ 148 Mn US$ 141 Mn ` 993.96 Crs US$ 140 Mn Sales 2016 - 17 2017 - 18 2018 - 19 2019 - 20 38

  39. Slide 39: International Branded Formulations

    International Branded Formulations 39

  40. Slide 40: International Branded Formulations Sales

    International Branded Formulations ` 381.53 Crs ` 360.94 Crs US$ 54 Mn US$ 51 Mn ` 320.30 Crs ` 287.06 Crs US$ 45Mn US$ 41 Mn Sales 2016 - 17 2017 - 18 2018 – 19 2019 - 20 40

  41. Slide 41: 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

  42. Slide 42: International Generics

    C£ipca Adose of life International Generics

  43. Slide 43: International Generics Sales and Registrations

    International Generics Products Products Country Under Registered Registration ` 840.02 Crs US$ 119 Mn United Kingdom 61 1 / Europe ` 708.83 Crs ` 687.32 Crs US$ 100 Mn ` 673.66 Crs US$ 97 Mn Australia / US$ 95 Mn 72 3 New Zealand South Africa 42 22 Sales United States / Canada 33 29 2016- 17 2017 -

  44. Slide 44: 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. Formulations registered to be backed by own API. Sale of generic dossiers with or without supply agreements. Contract manufacturing arrangements. Future G

  45. Slide 45: International APIs

    c£ipca dose of life International APIs

  46. Slide 46: International APIs Sales

    International APIs ` 922.20 Crs US$ 130 Mn ` 682.58 Crs US$ 96Mn ` 570.25 Crs ` 565.85 Crs US$ 80 Mn US$ 80 Mn Sales 2016 - 17 2017 - 18 2018 - 19 2019 - 20 46

  47. Slide 47: APIs - Drug Master Files

    International APIs – Drug Master Files US- Canada- Japan - Sr. No. Name of the API FDA HPFB WHO PMDA Australia EDQM 1 Atenolol a a a CEP a 2 Artemether a a 3 Artesunate a 4 Artesunate Sterile a 5 Amodiaquine Hcl a 6 Amlodipine Besylate a a 7 Allopurinol a a CEP a 8 Benzarone a 9 Benzbromarone a 10 B

  48. Slide 48: APIs - Drug Master Files

    International APIs – Drug Master Files US- Canada- Japan - Sr. No. Name of the API FDA HPFB WHO PMDA Australia EDQM 16 Citalopram HBR a 17 Dihydroartemesinin a 18 Etodolac a a 19 Famotidine a a 20 Fenofibrate a a 21 Fluconazole a 22 Flumequine a 23 Furosemide a a a CEP a 24 Glimepiride a a a 25 Hydr

  49. Slide 49: APIs - Drug Master Files

    International APIs – Drug Master Files US- Canada- Japan - Sr. No. Name of the API FDA HPFB WHO PMDA Australia EDQM 31 Methylphenidate a CEP a 32 Mesalamine/ Mesalazine a a 33 Metformin HCL a a a 34 Metoclopramide HCl a a CEP a 35 Metoclopramide Base a 36 Metoprolol Succinate a CEP a 37 Metoprolol T

  50. Slide 50: APIs - Drug Master Files

    International APIs – Drug Master Files US- Canada- Japan - Sr. No. Name of the API FDA HPFB WHO PMDA Australia EDQM 46 Probenecid a 47 Proguanil Hydrochloride a a 48 Propranolol HCl a a a CEP a 49 Pyrantel Pamoate a a a 50 Pyrimethamine Hcl a a 51 Promethazine Hydrochloride a 52 Quetiapine Fumarate

  51. Slide 51: APIs - Drug Master Files

    International APIs – Drug Master Files US- Canada- Japan - Sr. No. Name of the API FDA HPFB WHO PMDA Australia EDQM 61 Triamterene a a 62 Valsartan a a a 63 Venlafexine a a 64 Warfarin Sodium Clathrate a a 65 Warfarin Sodium CEP a 66 Zaltoprofen a Total 46 22 7 14 17 46 Note : Australia accept CEP i

  52. Slide 52: International APIs Future Growth Drivers

    International APIs Future Growth Drivers Consolidate API business of Sartans across the globe. Long term strategic tie-ups with major South American/European formulators. Leverage the customer base of more than 1000 customers spread across 90 countries is well laid down platform to introduce Ipca ne

  53. Slide 53: Research & Development

    Research & Development APIs & Formulations 53

  54. Slide 54: R&D Spending

    Research & Development APIs & Formulations R & D Spending Year ` Crs % to Sales 2015-16 137.67 4.91% 2016-17 125.67 4.06% 2017-18 118.10 3.73% 2018-19 89.35 2.50% 2019-20 101.04 2.35% 54

  55. Slide 55: Research & Development

    Research & Development APIs & Formulations Current scientist manpower of around 450. Research focus on developing APIs with non-infringing process and development of finished dosage forms. Development of NDDS for domestic and international market. 248 patent applications filed. Bio-tech / fermentati

  56. Slide 56: Acquisition of 100% of Pisgah Labs Inc., USA

    Acquisition of 100% share capital of Pisgah Labs Inc., USA by Company’s subsidiaries Acquisition of 100% share capital of Pisgah Labs Inc., USA by Ipca Pharmaceutical Inc., USA (Company’s Wholly owned subsidiary) and Onyx Scientific Ltd., U.K (Onyx) (Company’s wholly owned step down subsidiary) for

  57. Slide 57: Acquisition of 80% of Bayshore Pharmaceuticals LLC

    Acquisition of 80% share capital of Bayshore Pharmaceuticals LLC, New Jersey, USA by Company’s wholly owned subsidiary Acquisition of 80% share capital of Bayshore Pharmaceuticals LLC, New Jersey, USA by Ipca Pharmaceutical Inc., USA (Company’s wholly owned subsidiary) for US$ 10.286millions . Baysh

  58. Slide 58: Acquisition of 100% of Ramdev Chemical Private Limited

    Acquisition of 100% share capital of Ramdev Chemical Private Limited Acquisition of 100% share capital of Ramdev Chemical Private Limited (RCPL) for cash consideration of Rs. 108.50 Crs. Ramdev Chemical Pvt. Ltd. (RCPL), a company incorporated in 1999 under Companies Act, 1956 is engaged in the busi

  59. Slide 59: Acquisition of Noble Explochem Ltd.

    Acquisition of M/s Noble Explochem Ltd. Acquisition of M/s Noble Explochem Ltd. for cash consideration of Rs. 69 Crs. This transaction is pursuant to the order passed by The Hon’ble National Company Law Tribunal (NCLT), Mumbai Bench under the provisions of the Insolvency and Bankruptcy Code. The Nat

  60. Slide 60: 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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