Dishman Carbogen Amcis Ltd. · NSE:DCAL
Dishman Carbogen Amcis — Q3 FY19 Earnings Presentation
26 slides from Dishman Carbogen Amcis's earnings presentation, Jan 24, 2019
Slide 1: Exchange filing cover letter for investor presentation
@dishman 24" January, 2019 ; — ——— To, To, Department of Corporate Services The Manager, BSE Ltd. Listing Department, Phiroze Jeejeebhoy Towers, National Stock Exchange of India Ltd. Dalal Street, “Exchange Plaza”, C-1, Block G, Mumbai — 400 001. Bandra-Kurla Complex, Bandra (E), Mumbai — 400 051. R
Slide 2: Q3 & 9M FY19 Results Update
DISHMAN CARBOGEN AMCIS LIMITED Q3 & 9M FY19 RESULTS UPDATE JANUARY 2019 1
Slide 3: Safe Harbor Statement
SAFE HARBOR STATEMENT This presentation and the following discussion may contain “forward looking statements” by Dishman Carbogen Amcis Limited (‘Dishman’ or the ‘Company’) that are not historical in nature. These forward looking statements, which may include statements relating to future results of
Slide 4: Discussion Summary
DISCUSSION SUMMARY ❖ Q3 & 9M FY19 RESULTS UPDATE ❖ INDUSTRY OVERVIEW ❖ COMPANY OVERVIEW 3
Slide 5: Q3 & 9M FY19 Results Update
Q3 & 9M FY19 RESULTS UPDATE 4
Slide 6: 9M FY19 Results Highlights
9M FY19 RESULTS HIGHLIGHTS In Rs Mn REVENUES EBITDA & EBITDA MARGIN * 14,089 26.1% 27.2% 12,433 3,242 3,825 13.3% 9M FY18 9M FY19 9M FY18 9M FY19 ADJUSTED PBT # & PBT MARGIN CASH PAT @ & CASH EPS 17.9% 19.1% 18.1 15.5 2,697 2,917 2,222 2,502 9M FY18 9M FY19 9M FY18 9M FY19 * EBITDA excluding other i
Slide 7: Q3 FY19 Results Highlights
Q3 FY19 RESULTS HIGHLIGHTS In Rs Mn REVENUES EBITDA & EBITDA MARGIN * 26.4% 27.7% 4,598 4,789 1,212 1,327 4.2% Q3 FY18 Q3 FY19 Q3 FY18 Q3 FY19 ADJUSTED PBT # & PBT MARGIN CASH PAT @ & CASH EPS 19.6% 20.2% 5.9 6.4 902 966 960 1,032 Q3 FY18 Q3 FY19 Q3 FY18 Q3 FY19 * EBITDA excluding other income @ Cas
Slide 8: Consolidated P&L Statement
CONSOLIDATED P&L STATEMENT Particulars (Rs. Mn.) Q3 FY19 Q3 FY18 YoY % Q2 FY19 QoQ % 9M FY19 9M FY18 YoY % Revenues from Operations 4,273.9 4,309.1 -0.8% 4,324.1 -1.2% 13,085.2 12,001.6 9.0% Other Operating Income 515.5 289.1 78.3% 153.0 236.9% 1,003.6 431.4 132.6% Total Revenues 4,789.4 4,598.2 4.2
Slide 9: Q3 & 9M FY19 Segment-wise Revenue Analysis
Q3 & 9M FY19 SEGMENT-WISE REVENUE ANALYSIS In Rs Mn Revenues – Segment wise Breakup Q3 FY19 Q3 FY18 YoY% 9M FY19 9M FY18 YoY% CRAMS CRAMS – India 765.0 433.2 76.6% 2,100.8 1,411.0 48.9% CRAMS – CAAG+RIOM* 2,368.4 2,682.6 -11.7% 7,265.0 7,348.5 -1.1% CRAMS – UK 206.5 186.7 10.6% 622.5 380.3 63.7% CRA
Slide 10: 9M FY19 Segment-wise Revenue Break-up
9M FY19 SEGMENT-WISE REVENUE BREAK-UP Total Operating Revenue – 9M FY19 Total Operating Revenue – 9M FY18 CRAMS – 76.3% Marketable Molecules – 23.7% CRAMS – 76.2% Marketable Molecules – 23.8% 5% 3% 9% 12% 56% 24% 61% 24% 15% 12% 16% 12% CRAMS - India CRAMS - CAAG+RIOM* CRAMS - UK CRAMS - India CRAMS
Slide 11: Q3 & 9M FY19 Segment-wise Margin Analysis
Q3 & 9M FY19 SEGMENT-WISE MARGIN ANALYSIS EBITDA Margin % – Segment wise Q3 FY19 Q3 FY18 9M FY19 9M FY18 CRAMS CRAMS – India 59.6% 57.5% 58.3% 53.5% CRAMS – CAAG+RIOM* 20.3% 21.3% 20.4% 20.5% CRAMS – UK 32.2% 29.2% 26.1% 25.0% Marketable Molecules Carbogen Amcis BV** 41.4% 40.8% 42.7% 38.6% Others#
Slide 12: Q3 & 9M FY19 Results Highlights
Q3 & 9M FY19 RESULTS HIGHLIGHTS ❑ Total Revenues – Q3 FY 2019 Rs 4,789.4 mn (+4.2% YoY); 9M FY 2019 Rs 14,088.8 mn (+13.3% YoY). ❖ Total CRAMS revenues in Q3 FY 2019 increased by 1.1% YoY to Rs 3,339.9 mn driven by CRAMS India. Total CRAMS revenues in 9M FY 2019 grew by 9.3% YoY driven by growth in
Slide 13: Improving Margin Profile Across Key Segments
IMPROVING MARGIN PROFILE ACROSS KEY SEGMENTS Segment-Wise EBITDA Margin Trend 56.2% 58.3% 54.1% 50.1% 42.7% 38.2% 33.2% 29.8% 21.3% 20.2% 20.4% 18.6% FY16 FY17 FY18 9M FY19 CRAMS - India CRAMS - CAAG + RIOM Carbogen Amcis BV 12
Slide 14: Industry Overview
INDUSTRY OVERVIEW 13
Slide 15: Global Spending on Medicine
GLOBAL SPENDING ON MEDICINE As per BRC Report, Contract Research Outsourcing (CRO) Market to reach $44.4bn by 2021 • Oncology is expected to be the most critical therapeutic segment driving the global spend on medicine in future. Outlook of Leading Therapy Areas Spending and Growth, Constant US $ Bn
Slide 16: Global Medicines in Late Stage Development
GLOBAL MEDICINES IN LATE STAGE DEVELOPMENT Oncology 29% • Oncology has become one of the major focus 13% areas for pharmaceutical and biotechnology companies. CNS 11% 7% • Around 29% of the Phase II / III clinical trials are in the Oncology segment. Anti-Infectives / 6% Antivirals 9% • Oncology (can
Slide 17: Global Oncology Medicine Pipeline
GLOBAL ONCOLOGY MEDICINE PIPELINE ➢ 710 Molecules in late-stage development and 700+ companies with late-stage oncology drugs. ➢ Top companies with combined sales of $10bn+ have ~40% of their product pipeline in oncology. ➢ 455 smaller companies with 90%+ product pipeline in oncology, are involved i
Slide 18: Company Overview
COMPANY OVERVIEW 17
Slide 19: Brief Profile
BRIEF PROFILE BUSINESS OVERVIEW KEY STRENGTHS FINANCIAL OVERVIEW • Integrated CRAMS company with strong • Preferred global outsourcing partner with • Consolidated Revenues, EBITDA and capabilities right from process research & capabilities across the entire CRAMS value Adj. PAT of Rs 16,948 Mn, Rs 4
Slide 20: Manufacturing Facilities – Robust R&D Capabilities
MANUFACTURING FACILITES – ROBUST R&D CAPABILITIES Facilities are approved by recognised health agencies: USFDA, MEB, SWISS MEDIC, ANSM, TGA, WHO, KFDA Superior Chemistry Skills & Capabilities • 28 dedicated R&D labs with multiple-shift R&D operations, including HIPO labs • 25 multi-purpose facilitie
Slide 21: Preferred Global Outsourcing Partner
PREFERRED GLOBAL OUTSOURCING PARTNER INTEGRATED STRONG CLOSE PROXIMITY LARGE SCALE ACROSS THE VALUE CHEMISTRY TO CLIENTS WITH MANUFACTURING CHAIN CAPABILITIES GLOBAL PRESENCE CAPACITIES Integrated CRAMS Player present along the entire value chain from building blocks to commercialization and product
Slide 22: Integrated CRAMS Player
INTEGRATED CRAMS PLAYER Integrated CRAMS Player – Strong Capabilities across the Value Chain Carbogen Amcis (CA) Strong Research Capabilities EARLY STAGE LATE STAGE COMMERCIAL SUPPLY • Focus is on supporting the Process research and API supply to Process development and Secure, value-for-money devel
Slide 23: Cutting-Edge HIPO Capabilities
CUTTING-EDGE HIPO CAPABILITIES World Class HIPO capabilities • Facilities range from laboratory scale for process research and development to large scale manufacturing on 8,000 L scale, with an ability to handle the highest category IV compounds (high toxicity levels). • State-of-the-art containment
Slide 24: Corporate Restructuring
CORPORATE RESTRUCTURING SCHEME OF ARRANGEMENT & AMALGAMATION IMPACT OF MERGER • The Board Of Directors approved the Scheme of Arrangement and • The amalgamation has been accounted under the "Purchase Method" as Amalgamation on 24th February 2016, which involves merger of per AS14. Dishman Pharmaceut
Slide 25: Shareholding Structure
SHAREHOLDING STRUCTURE Share Price Performance Market Data As on 23 Jan 2019 (BSE) 375.0 Market capitalization (Rs Mn) 35,353 300.0 Price (Rs.) 219.1 225.0 No. of shares outstanding (Mn) 161.4 150.0 Face Value (Rs.) 2.0 52 week High-Low (Rs.) 377.1–214.1 % Shareholding as on 31 Dec 2018 Key Institut
Slide 26: For Further Queries
FOR FURTHER QUERIES: Mr. Harshil Dalal Senior Vice President – Accounts & Finance Email: harshil.dalal@dishmangroup.com Mr. Arun Prakash / Nilesh Dalvi IR Consultants Contact: +91 9920993892 / +91 9819289131 Email: arun.prakash@dickensonir.com nilesh.dalvi@dickensonir.com 25
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