Hikal Limited · NSE:HIKAL
Hikal — Q2 FY22 Earnings Presentation
29 slides from Hikal's earnings presentation, Oct 26, 2021
Slide 1: Results Presentation covering letter to stock exchanges
Hfl<IIL October 26, 2021 Dept. of Corporate Services, Listing Department, BSE Ltd., National Stock Exchange of India Ltd., P J Towers, Exchange Plaza, Bandra Kurla Complex, Dalal Street, Bandra (East), Mumbai - 400 00 I. Mumbai 400051. BSE Scrip Code : 524735 NSE Symbol : HIKAL Dear Sir/ Madam, Subj
Slide 2: Results Presentation – Q2 & H1 FY22
Results Presentation – Q2 & H1 FY22
Slide 3: Safe Harbor
Safe Harbor Hfl<IIL This presentation and the accompanying slides (the “Presentation”), which have been prepared by Hikal Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securit
Slide 4: Executive Chairman's Message
Executive Chairman’s Message Hfl<IIL “Hikal has delivered another quarter of positive performance. From a segmental performance perspective, the Crop Protection business has performed well, registering a positive YoY growth of 105% in Q2 on the back of strong volume growth of our existing products a
Slide 5: Quarterly Financial Highlights
Quarterly Financial Highlights
Slide 6: Financial Highlights – Q2 FY22
Financial Highlights – Q2 FY22 Hfl<IIL ~ □ DD□ cnnii -e c::::::::c:, Revenue – Q2 FY22 EBITDA – Q2 FY22 EBITDA Margin – Q2 FY22 Rs. 469 Crore Rs. 91 Crore 19.4% t YoY 26% t QoQ 3% t YoY 30% • QoQ -5% t YoY 62 bps • QoQ -158 bps PAT – Q2 FY22 EPS – Q2 FY22 Rs. 44 Crore Rs 3.54 t YoY 63% • QoQ -13% t
Slide 7: Quarterly Performance Highlights
Quarterly Performance Highlights Hfl<IIL Revenue Performance Highlights --C ) - - -• +26% • Revenue recorded an increase of 26% YoY 457 469 372 • Higher sales volumes for existing products augmented by addition of new products • Strong performance in both segments - own products as well as CDMO Q2FY
Slide 8: Quarterly Performance Highlights – Pharmaceuticals
Quarterly Performance Highlights – Pharmaceuticals Hfl<IIL Revenue ---0-----. +0.1% Pharmaceuticals - Performance Highlights 279 274 280 • Recorded flat revenue at Rs. 280 Crore as compared to Q2 FY21 • Growth in volumes for several own products • EBIT at Rs 37 Crore, de-growth of 25% YoY • Withdraw
Slide 9: Quarterly Performance Highlights – Crop Protection
Quarterly Performance Highlights – Crop Protection Hfl<IIL Revenue +105% Crop Protection - Performance Highlights 183 190 • Revenue recorded an increase of 105% YoY • Increased sales volume of existing as well as new products • Efficient pass through of raw material price increase 93 • EBIT of Rs 34
Slide 10: Quarterly Financial Highlights
Quarterly Financial Highlights Hfl<IIL Consolidated Revenue Consolidated EBITDA Consolidated PAT +26% +30% +63% 532 109 51 51 463 457 469 96 44 91 91 40 372 70 27 Q2FY21 Q3FY21 Q4FY21 Q1FY22 Q2FY22 Q2FY21 Q3FY21 Q4FY21 Q1FY22 Q2FY22 Q2FY21 Q3FY21 Q4FY21 Q1FY22 Q2FY22 Rs. Crore © Hikal Limited 9
Slide 11: Quarterly Segmental Highlights
Quarterly Segmental Highlights Hfl<IIL Pharmaceuticals Revenue Crop Protection Revenue ......-----0--------.i +0.1% +105% 298 279 269 274 280 235 194 183 190 93 Q2FY21 Q3FY21 Q4FY21 Q1FY22 Q2FY22 Q2FY21 Q3FY21 Q4FY21 Q1FY22 Q2FY22 Pharmaceuticals EBIT Crop Protection EBIT --0--------1 50 48 -25% 51
Slide 12: Consolidated Profit & Loss – Q2 FY22
Consolidated Profit & Loss – Q2 FY22 Hfl<IIL Particulars (Rs. Crore) Q2 FY22 Q2 FY21 Y-o-Y Q1 FY22 Q-o-Q Net Sales 469 372 26% 457 3% Expenditure 378 302 361 EBITDA 91 70 30% 96 -5% Margin 19.4% 18.8% 21.0% Other Income 1 1 3 Depreciation 24 21 23 Finance Costs 8 9 8 PBT 60 41 45% 68 -13% Tax 16 14
Slide 13: Consolidated Balance Sheet
Consolidated Balance Sheet Hfl<IIL Assets Sep-21 Mar-21 Equities & Liabilities Sep-21 Mar-21 Total Non Current Assets 1129 1,035 Shareholders Fund 1015 933 Property, Plant and Equipment 727 646 Share Capital 25 24 Capital work in Progress 249 245 Other Equity 990 909 Right to Use Assets 65 65 Other
Slide 14: Cash Flow Statement
Cash Flow Statement Hfl<IIL Rs. Crore Half Year ended 30-Sep-21 Half Year ended 30-Sep-20 Profit before tax 128 64 Adjustments 67 59 Operating Profit Before Working Capital Changes 195 123 Change in operating assets and liabilities 28 (40) Cash generated from operations 223 83 Income taxes paid 44 1
Slide 15: Half-Yearly Financial Highlights
Half-Yearly Financial Highlights
Slide 16: Financial Highlights – Half-Yearly
Financial Highlights – Half-Yearly Hfl<IIL - - ~ □ DD□ uoGOoii $~ Revenue – H1FY22 EBITDA – H1FY22 EBITDA Margin – H1FY22 Rs. 926 Crore Rs. 187 Crore 20.2% t YoY 28% t YoY 53% t YoY 328 bps PAT – H1FY22 EPS – H1FY22 Rs. 95 Crore Rs 7.67 t YoY 125% t YoY 125% © Hikal Limited 15
Slide 17: Half-Yearly Performance Highlights
Half-Yearly Performance Highlights Hfl<IIL Revenue EBITDA PAT +28% +53% +125% 926 187 95 725 122 42 H1FY21 H1FY22 H1FY21 H1FY22 H1FY21 H1FY22 Pharmaceuticals Division Crop Protection Division +12% +61% 554 372 493 232 Revenue Revenue H1FY21 H1FY22 H1FY21 H1FY22 +20% +167% 86 66 72 25 EBIT EBIT Rs. C
Slide 18: Sales Break-Up
Sales Break-Up Hfl<IIL Pharmaceuticals Revenue Break-Up Crop Protection Revenue Break-Up 41% 49% 47% 61% 69% 74% 59% 51% 53% 39% 31% 26% H1FY21 FY21 H1FY22 H1FY21 FY21 H1FY22 • CDMO • Own products • CDMO • Own products © Hikal Limited 17
Slide 19: Ratio Analysis
Ratio Analysis Hfl<IIL ROE ROCE 19.4% 18.1% 15.2% 16.1% 14.5% 15.2% 12.0% 12.8% 12.5% 11.3% 10.7% 11.1% FY17 FY18 FY19 FY20 FY21 H1FY22* FY17 FY18 FY19 FY20 FY21 H1FY22* Net Debt / Equity Net Debt / EBITDA 0.94 0.91 2.9 0.83 2.5 0.71 2.1 2.1 0.61 0.57 1.8 1.6 FY17 FY18 FY19 FY20 FY21 H1FY22 FY17 FY1
Slide 20: Annual Financial Highlights
Annual Financial Highlights
Slide 21: Financial Highlights - Annual
Financial Highlights - Annual Hfl<IIL ~ □ DD□ cnnii -e c::::::::c:, Revenue – FY21 EBITDA – FY21 EBITDA Margin – FY21 Rs. 1,720 Crore Rs. 323 Crore 18.8% FY17-21 FY17-21 t CAGR 14% t YoY 14% t CAGR 13% t YoY 18% t YoY 65 bps PAT – FY21 EPS – FY21 Rs. 133 Crore Rs 10.80 FY17-21 FY17-21 t CAGR 19% t Y
Slide 22: Annual Performance Highlights
Annual Performance Highlights Hfl<IIL Revenue EBITDA PAT +14% +18% +58% 1,720 323 133 1,507 273 84 FY20 FY21 FY20 FY21 FY20 FY21 Pharmaceuticals Division Crop Protection Division +19% +7% 1,060 620 661 887 Revenue Revenue FY20 FY21 FY20 FY21 +33% +4% 170 100 103 128 EBIT EBIT Rs. Crore FY20 FY21 FY2
Slide 23: Yearly Financial Highlights
Yearly Financial Highlights Hfl<IIL Consolidated Revenue Consolidated EBITDA Consolidated PAT +14% +13% 1,720 323 133 1,590 298 1,507 +19% 273 1,300 242 103 197 84 1,034 77 67 FY17 FY18 FY19 FY20 FY21 FY17 FY18 FY19 FY20 FY21 FY17 FY18 FY19 FY20 FY21 Rs. Crore © Hikal Limited 22
Slide 24: Yearly Segmental Highlights
Yearly Segmental Highlights Hfl<IIL Pharmaceuticals Revenue Crop Protection Revenue _____________.-CY 753 +15% 939 887 1,060 ------------~ - 547 +12% 651 620 661 423 611 FY17 FY18 FY19 FY20 FY21 FY17 FY18 FY19 FY20 FY21 Pharmaceuticals EBIT Crop Protection EBIT +8% ----------0- +21% 170 112 100 103
Slide 25: Sales Break-Up
Sales Break-Up Hfl<IIL Pharmaceuticals Revenue Break-Up Crop Protection Revenue Break-Up 41.2% •• CDMO Own products •• CDMO Own products 54.0% 69.0% 76.7% 58.8% 46.0% 31.0% 23.3% FY20 FY21 FY20 FY21 © Hikal Limited 24
Slide 26: Consolidated Profit & Loss – Full Year
Consolidated Profit & Loss – Full Year Hfl<IIL Particulars (Rs. Crore) FY21 FY20 Y-o-Y Net Sales 1,720 1,507 14% Expenditure 1,397 1,234 EBITDA 323 273 18% Margin 18.8% 18.1% Other Income 5 4 Depreciation 85 82 Finance Costs 36 52 Exceptional Item - 15 PBT 206 127 63% Tax 73 42 Net Profit 133 84 58%
Slide 27: Annual Dividend Payout
Annual Dividend Payout Hfl<IIL ✓- ~, I I Dividend 1 I Payout I I I I 21% 19% 14% 24% 22% 18% 19% 17% 20% I I I I 19% including I I I I I I '~ I I I DDT ___________________ I I ,/ I 10.80 EPS DPS 8.36 6.85 6.27 5.70 5.18 4.39 3.28 3.35 2.05 2.00 1.20 1.00 1.00 1.20 1.20 1.20 1.20 0.90 0.50 FY12 FY13
Slide 28: Contact Us
Contact Us Hfl<IIL Hll<AL SGAStrategic Growth Advisors Company : Investor Relations Advisors : Hikal Limited Strategic Growth Advisors Pvt. Ltd. CIN: L24200MH1988PTC048028 CIN: U74140MH2010PTC204285 Mr. Kuldeep Jain Mr. Jigar Kavaiya +91-9920602034 Kuldeep_jain@hikal.com jigar.kavaiya@sgapl.net www.
Slide 29: HIiKAL
HIiKAL