Sun Pharmaceutical Industries Limited · NSE:SUNPHARMA
Sun Pharmaceutical Industries — Ranbaxy Laboratories — Q2 2012 Earnings Presentation
21 slides from Sun Pharmaceutical Industries's earnings presentation, Aug 9, 2012
Slide 1: Financial Results: April – June 2012 (Q2)
Ranbaxy Laboratories Limited FINANCIAL RESULTS: April – June 2012 (Q2) YTD June 30, 2012 (H1) ARUN SAWHNEY CEO & MD Dept. 09 Aug 2012Name Post Results Conference Call Privileged and Confidential
Slide 2: Safe Harbor
Safe Harbor Except for the historical information contained herein, statements in this presentation and the subsequent discussions, which include words or phrases such as “will”, “aim”, “will likely result”, “would”, “believe”, “may”, “expect”, “will continue”, “anticipate”, “estimate”, “intend”, “p
Slide 3: Key Achievements for Quarter 2, 2012 (1/2)
1/2 Key Achievements for Quarter 2, 2012 Financial Sales grew 37% over corresponding quarter Aided by strong FTF exclusivity monetization EBITDA margins improved Aided by sales growth and continued focus on cost optimization 16% 588 459 Percent 10% $ Mn Q2 2011 Q2 2012 Q2 2011 Q2 2012 Sales
Slide 4: Key Achievements for Quarter 2, 2012 (2/2)
2/2 Key Achievements for Quarter 2, 2012 Launched Synriam™, received Business US FDA approval for Absorica™ Emerging market sales $231 Mn Emerging market base business 41% of DF sales contributes to ~3/5th of total base Developed market sales $328 Mn business sales 59% of DF sales EMs adve
Slide 5: $ appreciated against most currencies Vs. previous year
$ appreciated against most currencies Vs. previous year Jun 2011 Vs. Jun 2012 EGP NGN GBP MYR THB CAD AUD RUB EUR ZAR RON INR BRL -2% -2% -3% -3% -3% -4% -5% -10% -11% -16% -17% -17% -19% $ appreciated against most currencies vs. previous year Performance in $ terms seems weaker compared to actu
Slide 6: Functional Performance
Functional Performance Manufacturing Sale of Atorvastatin to the USA from Mohali SEZ expanded further Mohali SEZ has begun to receive multiple regulatory approvals from US, EU and other international regulatory bodies Research & Development Differentiated, value added product focus 2 approva
Slide 7: Hybrid Business Model
Hybrid Business Model Synergy with Daiichi Sankyo Front end: Ranbaxy to market Sevikar®( a fixed dose combination of Olmesartan Medoxomil and Amlodipine Besylate tablet) in Romania Ranbaxy and Daiichi Sankyo joined hands to work together in Venezuela. DS will replace the local distributor to p
Slide 8: Other Areas
Other Areas Regulatory Consent Decree: progress per plan Regulatory inspections by 9 country level authorities Derivatives Position Exposure down to ~$1.39 Bn in Q2 2012 from ~1.50 Bn in Q1 2012. Maturity: ~$40 Mn/Month Debt Total Debt $726 Mn ($815 Mn in Q1); Cash & Bank Bal $829 Mn Net C
Slide 9: Financial Performance
Ranbaxy Laboratories Limited Financial Performance FINANCIAL RESULTS: April – June 2012 (Q2) Dept. 09 Aug 2012Name Post Results Conference Call Privileged and Confidential
Slide 10: Sales Performance
Sales Performance $ Mn Consolidated Sales Consolidated Sales Q2 2012 H1 2012 1,322 932 588 459 37% 48% Q2 2011 Q2 2012 H1 2011 H1 2012 Sales growth continued on Quarter and YTD basis, aided by strong FTF sales Overall sales growth on local currency terms in most regions, despite adverse impact o
Slide 11: North America
North America $ Mn Major markets 689 -USA -Canada 272 282 112 145% 145% Q2 2011 Q2 2012 H1 2011 H1 2012 Strong base business sales in the USA Exclusivity for Atorvastatin and Amlodipine + Atorvastatin ended during the quarter Ranbaxy is the market leader for both the products with peak share o
Slide 12: India
India Rs. Mn Major markets 10,542 9,342 -India, CHC $202 Mn -SL $208 Mn 5,540 4,905 $103 Mn $110 Mn 13% 13% Q2 2011 Q2 2012 H1 2011 H1 2012 Ranbaxy sales growth was faster than the IPM growth in its represented market Strong OTC sales performance continued India Pharmaceuticals Market (IPM) sl
Slide 13: East Europe & CIS
East Europe & CIS $ Mn Major markets -Romania 116 -Russia -Ukraine 110 57 52 5% 3% Q2 2011 Q2 2012 H1 2011 H1 2012 Sales have improved over corresponding period, on constant forex basis However, impact of forex volatility adverse on $ terms Regulatory changes including ‘claw-back’ and more str
Slide 14: West Europe
West Europe $ Mn Major markets -France 93 -Germany -UK 78 50 40 40% 27% Q2 2011 Q2 2012 H1 2011 H1 2012 Sales in UK, France and Italy businesses improved Concerns on Macro-economic indicators continue Growth calculated on Constant Forex Privileged and Confidential 14
Slide 15: Asia Pacific & Middle East
Asia Pacific & Middle East $ Mn Major markets 58 -ANZ 47 -Malaysia 27 27 - 23% Q2 2011 Q2 2012 H1 2011 H1 2012 Consistent performance during the Quarter Sales in ANZ stronger; Plan for manufacturing plant in Malaysia Growth calculated on Constant Forex Privileged and Confidential 15
Slide 16: Africa
Africa $ Mn Major markets 96 -South Africa 91 -Nigeria 51 46 3% 5% Q2 2011 Q2 2012 H1 2011 H1 2012 Sales in the region impacted by adverse exchange rate movement Business in the region to capitalize fully on the local manufacturing capacities Growth calculated on Constant Forex Privileged and Co
Slide 17: Latin America
Latin America $ Mn Major markets 32 -Brazil -Mexico 16 18 9 (41%) (40%) Q2 2011 Q2 2012 H1'11 H1'12 LATAM sales lower due to product supply disruption in the region Growth calculated on Constant Forex Privileged and Confidential 17
Slide 18: API & Others
API & Others $ Mn 76 64 48 31 (34%) (14%) Q2 2011 Q2 2012 H1 2011 H1 2012 API business focused on profitability Growth calculated on Constant Forex Privileged and Confidential 18
Slide 19: Financials Q2 2012 $ Mn
Financials Q2 2012 $ Mn Q2'11 Q2'12 Particulars H1'11 H1 '12 111 104 - Within India 209 204 349 484 - Outside India 723 1,118 459 588 Sales 932 1,322 13 10 Other operating income 23 24 473 598 Total Operating Income 956 1,347 175 190 Consumption 333 360 94 89 Employee cost 186 183 157 224 Other Oper
Slide 20: Financials Q2 2012 INR Mn
Financials Q2 2012 INR Mn Q2'11 Q2'12 Particulars H1'11 H1 '12 4,959 5,614 - Within India 9,395 10,650 15,579 26,127 - Outside India 32,553 58,044 20,537 31,741 Sales 41,948 68,695 588 544 Other operating income 1,051 1,268 21,125 32,285 Total Operating Income 42,999 69,962 7,820 10,275 Consumption
Slide 21: Questions & Answers
Questions & Answers Dept. Name Privileged and Confidential