Slide 1: Ipca Laboratories Ltd. Corporate Presentation
Ipca Laboratories Ltd. Corporate Presentation Dec 2019 1
Slide 2: Company Overview
Company Overview Incorporation : 1949 Present Management : Since 1975 Total income F. Y. 2018-19 : ` 3687.74 Crs / US$ 526 Mn Exports F. Y. 2018-19 : ` 1730.84 Crs / US$ 247 Mn Business Model : Integrated pharmaceutical company producing Branded and Generics Formulations, APIs and Intermediates 2
Slide 3: Five Years' Highlights
Five Years’ Highlights 2014-15 2015-16 2016-17 2017-18 2018-19 Domestic Income ( ` Crs ) 1,367.54 1,440.88 1,617.13 1,694.54 1,956.90 Domestic Income (US $ Mn) 195.00 205.46 230.59 241.63 279.04 Export Income ( ` Crs ) 1,752.86 1,429.85 1,561.74 1,564.21 1,730.84 Export Income (US $ Mn) 249.94 203.8
Slide 4: Manufacturing Facilities: Formulations
Manufacturing Facilities Formulations 4
Slide 5: Manufacturing Facilities: Formulations
Manufacturing Facilities Formulations Location Dosage Form Approvals / Inspections UK-MHRA, TGA-Australia, Athal Tablets & Capsules WHO-Geneva, EU Certification by German (Dadra & Nagar Haveli) Authority Ratlam Tablets, Liquids, MCC-South Africa, (Madhya Pradesh) Injectables & Ointments INVIMA Colom
Slide 6: Manufacturing Facilities: Formulations
Manufacturing Facilities Formulations Location Dosage Form Approvals / Inspections Unit – I : WHO-GMP, Ivory Coast- ICHA Dehradun, Tablets & Unit - II: WHO-GMP, GHANA-FDA, (Uttarakhand) Cephalosporin Injectables TFDA-TANZANIA, ICHA-Ivory coast Indore (SEZ), (Madhya UK-MHRA, Health Canada, Tablets &
Slide 7: Manufacturing Facilities: APIs
Manufacturing Facilities Active Pharmaceutical Ingredients (APIs) 7
Slide 8: Manufacturing Facilities: APIs
Manufacturing Facilities APIs Location Approvals / Inspections TGA-Australia, EDQM, Danish Regulatory Authority, PMDA-Japan, WHO-Geneva, Health Canada, EU-GMP Ratlam (Madhya Pradesh) (LaGesso, Berlin), MOH Russia, MFDS (Korea), HPRA (Ireland), CDSCO- India, Cofepris (Mexico) Indore (Madhya Pradesh)
Slide 9: Revenue Break-up
Revenue Break-up 9
Slide 10: Revenue Break-up
Revenue Break-up 2018 - 19 75% 76% 60% Total Formulations 47% APIs Total Exports Revenue Revenue 40% Domestic 24% 25% 53% 84% 61% 71% 89% Exports Formulations Domestic Formulations APIs APIs 29% 39% 16% 11% 10
Slide 11: Revenue Break-up
Revenue Break-up 2018-19 2017-18 ` Crs Domestic Exports Total Domestic Exports Total Growth Branded Formulations 1646.83 360.94 2007.77 1425.38 320.30 1745.68 15.0% Generic Formulations - 687.32 687.32 - 673.66 673.66 2.0% Total Formulations 1646.83 1048.26 2695.09 1425.38 993.96 2419.34 11.4% API /
Slide 12: Financials
c£ipca dose of life Financials
Slide 13: Financials F.Y. 2018-19
Financials F.Y. 2018 - 19 F.Y. 2017 - 18 % ` Crs US$ Mn ` Crs US$ Mn Growth Total Income 3687.74 526 3258.75 465 13% EBIDT 765.26 109 478.82 68 60% EBIDT % 20.75% 14.69% PBT # 557.39 79 282.80 40 97% PBT % 15.11% 8.68% PAT # 454.91 65 233.11 33 95% PAT % 12.34% 7.15% # After forex loss of ` 17.50 Cr
Slide 14: Profitability
Financials Profitability FY 2018-19 FY 2017-18 PBIDT 20.75% 14.69% PBT 15.11% 8.68% PAT 12.34% 7.15% 14
Slide 15: Financials Q1 FY20
Financials Q1 FY20 Q1 FY 19 % ` Crs US$ Mn ` Crs US$ Mn Growth Total Income 1030.44 147 867.56 124 19% EBIDT 205.20 29 152.42 22 35% EBIDT % 19.91% 17.57% PBT # 167.96 24 78.22 11 115% PBT % 16.30% 9.02% PAT # 132.05 19 65.52 9 102% PAT % 12.81% 7.55% # After forex gain of ` 9.27 Crs as against fore
Slide 16: Financials Q2 FY20
Financials Q2 FY20 Q2 FY 19 % ` Crs US$ Mn ` Crs US$ Mn Growth Total Income 1226.89 175 1011.57 144 21% EBIDT 278.37 40 217.08 31 28% EBIDT % 22.69% 21.46% PBT # 226.73 32 141.00 20 61% PBT % 18.48% 13.94% PAT # 196.02 28 119.74 17 64% PAT % 15.98% 11.84% # After forex loss of ` 2.48 Crs as against
Slide 17: Financials Q3 FY20
Financials Q3 FY20 Q3 FY 19 % ` Crs US$ Mn ` Crs US$ Mn Growth Total Income 1156.70 165 960.22 137 20% EBIDT 282.94 40 215.86 31 31% EBIDT % 24.46% 22.48% PBT # 233.11 33 196.78 28 18% PBT % 20.15% 20.49% PAT # 196.63 28 160.18 23 23% PAT % 17.00% 16.68% # After forex gain of ` 0.13 Crs as against o
Slide 18: Financials 9 Months FY20
Financials 9 Months FY20 9 Months FY 19 % ` Crs US$ Mn ` Crs US$ Mn Growth Total Income 3414.03 487 2839.35 405 20% EBIDT 766.51 109 585.36 83 31% EBIDT % 22.45% 20.62% PBT # 627.80 90 416.00 59 51% PBT % 18.39% 14.65% PAT # 524.70 75 345.44 49 52% PAT % 15.37% 12.17% # After forex gain of ` 6.92 Cr
Slide 19: Business Characteristics
Financials Business Characteristics FY 2018-19 FY 2017-18 Return on Capital Employed % (PBIT / Capital Employed) 16.31% 9.46% Return on Net Worth % (PAT / Net Worth) 14.50% 8.65% Fixed Asset Turnover Ratio (Total Income / Net Fixed Assets) 2.04 1.69 Capital Employed Turnover Ratio (Total Income / Ca
Slide 20: Growth
Financials Growth FY 2018-19 FY 2017-18 Net Total Income 13.2% 2.5% Domestic Sales 15.3% 4.6% Export Sales 10.7% 0.2% PBIDT 59.8% 10.0% PBT 97.1% 9.5% Net Profit 95.1% 23.8% 20
Slide 21: Contribution of Therapeutic Groups
Financials Contribution of Therapeutic Groups Domestic Exports Therapeutic Segment 2018 – 19 2017 – 18 2018 – 19 2017 – 18 Non Steroidal Anti-Inflammatory Drugs (NSAID) 46% 44% 21% 20% Cardiovasculars & Anti-Diabetics 20% 21% 29% 31% Anti-Bacterials 7% 6% 9% 10% Anti-Malarials 6% 8% 18% 18% Gastro-I
Slide 22: Branded Formulations: Domestic
Branded Formulations Domestic 22
Slide 23: Branded Formulations Domestic
Branded Formulations Domestic All India Rank IQVIA : 21st (MAT Dec‘19). 25 Depots & 2 C&F agents. 15 Therapy Focused Marketing Divisions. Field Strength (PSR/ BA)– 4609. Over 2000 Wholesalers. 3 brands among top 300 brands (HCQS, Zerodol-P & Zerodol-SP). Market leaders in Rheumatoid Arthritis & Anti
Slide 24: Domestic Branded Formulations Sales
Branded Formulations Domestic ` 1646.83 Crs US$ 235 Mn ` 1425.38 Crs US$ 203 Mn ` 1388.55 Crs US$ 198Mn ` 1222.15 Crs US$ 174 Mn Sales 2015 - 16 2016 - 17 2017 - 18 2018 - 19 24
Slide 25: 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
Slide 26: International Business
c£ipca dose of life International Business
Slide 27: International Business
International Business Products of the company are now exported to over 100 countries across the globe. Recognized Star Trading House. 48% sales from exports. Field-force to promote brands in more than 35 countries of CIS, South East Asia, Middle East, Latin America and Africa. 27
Slide 28: 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. 28
Slide 29: International Business Sales
International Business ` 1730.84 Crs US$ 247 Mn ` 1564.21 Crs ` 1561.74 Crs US$ 223 Mn US$ 223 Mn ` 1429.85 Crs US$ 204 Mn Sales 2015 - 16 2016 - 17 2017 - 18 2018 - 19 29
Slide 30: Continent-wise Exports 2018-19
International Business ` Crs) Continent-wise Exports 2018 – 19 (` Bulk Drugs / % Continent Formulations Intermediates Total Contribution Europe 311.89 220.93 532.82 31% Africa 265.03 39.47 304.50 18% Americas 90.13 206.77 296.90 17% Asia 87.04 200.32 287.36 17% CIS 156.43 9.24 165.67 9% Australasia
Slide 31: International Formulations
International Formulations 31
Slide 32: International Formulations Sales
International Formulations ` 1048.26 Crs ` 995.89 Crs US$ 150 Mn US$ 142 Mn ` 993.96 Crs ` 923.51 Crs US$ 142 Mn US$ 132 Mn Sales 2015 - 16 2016 - 17 2017 - 18 2018 - 19 32
Slide 33: International Branded Formulations
International Branded Formulations 33
Slide 34: International Branded Formulations Sales
International Branded Formulations ` 360.94 Crs US$ 51 Mn ` 320.30 Crs ` 287.06 Crs US$ 46Mn US$ 41 Mn ` 237.82 Crs US$ 34 Mn Sales 2015 - 16 2016 - 17 2017 - 18 2018 – 19 34
Slide 35: 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
Slide 36: International Generics
C£ipca Adose of life International Generics
Slide 37: International Generics Sales and Registrations
International Generics Products Products Country Under Registered Registration United Kingdom 61 1 / Europe ` 708.83 Crs ` 687.32 Crs US$ 101 Mn ` 685.69 Crs ` 673.66 Crs US$ 98 Mn Australia / US$ 98 Mn US$ 96 Mn 71 4 New Zealand South Africa 42 22 Sales United States / Canada 33 28 2015 - 16 2016-
Slide 38: 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
Slide 39: International APIs
c£ipca dose of life International APIs
Slide 40: International APIs Sales
International APIs ` 682.58 Crs US$ 97Mn ` 570.25 Crs ` 565.85 Crs US$ 81 Mn US$ 81 Mn ` 506.34 Crs US$ 72 Mn Sales 2015 - 16 2016 - 17 2017 - 18 2018 - 19 40
Slide 41: 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
Slide 42: 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
Slide 43: 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
Slide 44: 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
Slide 45: 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 63 Venlafexine a a 64 Warfarin Sodium Clathrate a a 65 Warfarin Sodium CEP a 66 Zaltoprofen a Total 46 20 7 14 17 46 Note : Australia accept CEP iss
Slide 46: 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
Slide 47: Research & Development: APIs & Formulations
Research & Development APIs & Formulations 47
Slide 48: R&D Spending
Research & Development APIs & Formulations R & D Spending Year ` Crs % to Sales 2014-15 157.19 5.09% 2015-16 137.67 4.91% 2016-17 125.67 4.06% 2017-18 118.10 3.73% 2018-19 89.35 2.50% 48
Slide 49: Research & Development: APIs & Formulations
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
Slide 50: Acquisition 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
Slide 51: 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
Slide 52: Acquisition 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
Slide 53: 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
Slide 54: 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