Ajanta Pharma Limited · NSE:AJANTPHARM
Ajanta Pharma — Q1 FY2016 Earnings Presentation
36 slides from Ajanta Pharma's earnings presentation, Aug 13, 2015
Slide 1: Consistent Performance
Consistent Performance Consistent Performance Serving Global Healthcare needs with Empathy, Innovation & Technology. www.ajantapharma.com Result Update Q1 FY ‘16 13th August 2015
Slide 2: Ajanta in 'The Next Fortune 500'
AJANTA IN ‘THE NEXT FORTUNE 500’ 3rd in Top wealth creators for last 5 yrs. 13th in Drug and Pharmaceutical Companies 20th in Profitability 182nd in Sales 13th August 2015 Based on figures of FY ’14 taken by Fortune 2 of 36
Slide 3: On Top of the List
ON TOP OF THE LIST 13th August 2015 3 of 36
Slide 4: APML Jumps 19 Ranks
APML JUMPS 19 RANKS 13th August 2015 4 of 36
Slide 5: Content
India Content Emerging Business Markets Regulated Infrastructure Markets Financial Corporate Social Highlights Responsibility 13th August 2015 5 of 36
Slide 6: India Business
INDIA BUSINESS 13th August 2015 6 of 36
Slide 7: Therapy Focus
THERAPY FOCUS Ophthalmology Dermatology Cardiology New Pain Management 13th August 2015 Total MR Strength 3,000 7 of 36
Slide 8: India Sales
INDIA SALES Q1 FY ‘16 Sales – Rs. 144 cr. (Q1 FY ‘15 – Rs. 119 cr.) India Sales Growth 21%, India Branded Growth 18% (excluding Institution) 60 22% 50 49 17% 6% 40 40 35 34 32 30 30 Rs. cr. 58% 20 49% 16 10 10 10 7 0 Ophthalmology Dermatology Cardiology Pain Mgt. Institution 13th August 2015 Q1 FY '
Slide 9: Within Segments Way Ahead
WITHIN SEGMENTS WAY AHEAD 60% 50% 50% 45% 46% 40% 37% 30% 20% 20% 21% 20% 14% 13% 13% 10% 0% Pharma Market Dermatology Cardiology Ophthalmology Pain Mgt. 13th August 2015 IPM Ajanta Pharma Source: IMS, MAT June ‘15 9 of 36
Slide 10: Growing Consistently Faster Than Industry
GROWING CONSISTENTLY FASTER THAN INDUSTRY 40% 38% 37% 36% 35% 30% 29% 26% 25% 20% 15% 15% 14% 12% 10% 10% 10% 5% 0% Mar '12 Mar '13 Mar '14 Mar '15 Jun '15 13th August 2015 IPM Ajanta Pharma IPM – Indian Pharmaceutical Market, MAT Figures Source: IMS 10 of 36
Slide 11: IPM - Rankings
IPM - RANKINGS IMS MAT IMS MAT IMS MAT Segment June ‘15 June ‘14 Mar ‘05 Ophthalmology 5 6 28 Dermatology 13 13 98 Cardiology 21 24 38 Pain Mgt. 46 37 57 NA Ajanta Pharma 33 40 88 13th August 2015 Source: IMS Jumped 3 Ranks in 3 months 11 of 36
Slide 12: India Branded – Consistent Performance
INDIA BRANDED – CONSISTENT PERFORMANCE 450 418 400 350 319 300 240 Rs. cr. 250 200 180 150 135 109 100 88 66 49 50 30 13th August 2015 - 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Source: Company 12 of 36
Slide 13: New Products Launched
NEW PRODUCTS LAUNCHED First line systemic therapy for acne For eye lashes growth Dry eye management India's First Management of Hypertension For damaged hair enriched face wash 13th August 2015 Q1 FY ‘16 new launches – 7 (First to market – 2) 13 of 36
Slide 14: Emerging Markets
EMERGING MARKETS 13th August 2015 14 of 36
Slide 15: Global Presence
GLOBAL PRESENCE USA West Asia CIS (3 Countries) (6 Countries) South East Asia Latin (3 Countries) America (4 Countries) India Africa (19 Countries) Presence in 35+ countries in emerging markets 13th August 2015 Country specific brand portfolio enabling growth 15 of 36
Slide 16: Emerging Markets Consolidated Revenue
EMERGING MARKETS CONSOLIDATED REVENUE 29% (Rs. cr.) 160 147 Q1 Q1 140 Region Growth FY ‘16 FY ‘15 120 114 13% 100 89 Africa 147 114 29% 79 80 Rs. cr. Asia 89 79 13% 60 40 Latam 3 3 -20% 20 -20% 3 3 Total 239 196 22% 0 Africa Asia Latam Q1 FY '15 Q1 FY '16 13th August 2015 16 of 36
Slide 17: Emerging Markets – Building Brands
EMERGING MARKETS – BUILDING BRANDS No. of Brands Under Major Segments Region Registered Registration Africa 1,156 1,167 Antibiotic, Anti-Malaria, Ortho Antibiotic, Derma, Ortho, OTC, Asia 287 455 Ophthal, Cardio, GI Latam 33 10 Ophthal, MED, GI Total 1,476 1,632 13th August 2015 17 of 36
Slide 18: New Product Launches
NEW PRODUCT LAUNCHES Region Q1 FY ‘16 Q1 FY ‘15 Africa 1 11 Asia 8 3 13th August 2015 18 of 36
Slide 19: Regulated Markets
REGULATED MARKETS 13th August 2015 19 of 36
Slide 20: Regulated Markets - USA
REGULATED MARKETS - USA ANDAs status Approved – 5 Q1 FY ‘16 consolidated sales Rs. Under approval – 20 3 cr. (PY – Nil) Filing target every year > 6 Expected market size of ANDA Launching 4 products shortly filed - USD 1.5 billion (post generic) 100% fill rate, no back orders Solid dosage, M
Slide 21: Infrastructure
INFRASTRUCTURE 13th August 2015 21 of 36
Slide 22: Manufacturing
MANUFACTURING Formulation Manufacturing 3 existing facilities in Aurangabad (1 USFDA, UKMHRA, WHO Pre-Q, approved) 1 Facility at Mauritius Dahej facility under validation, regulatory filing batches thereafter Savli facility options being evaluated for some other location API Manufacturing
Slide 23: R&D – The Catalyst for Growth
R&D – THE CATALYST FOR GROWTH Many first to market Formulation, Team of 500+ people products to credit Analytical & API Development Niche, complex & Spent Rs. 18 cr. Enhancing capacities & difficult to make capabilities, investing Q1 FY ‘16 products Rs. 80 cr. (5% of Revenue) 13th August 2015 23 of
Slide 24: Financial Highlights
FINANCIAL HIGHLIGHTS 13th August 2015 24 of 36
Slide 25: P&L – Standalone
P&L – STANDALONE Q1 FY ‘16 Q1 FY ‘15 Exports Rs. 191 cr. Rs. 162 cr. 18% (56% to Revenue) (56% to Revenue) Domestic Rs. 144 cr. Rs. 119 cr. 21% (42% to Revenue) (42% to Revenue) Total Revenue Rs. 341 cr. Rs. 287 cr. 18% EBITDA Rs. 110 cr. Rs. 90 cr. 22% (32% to Revenue) (31% to Revenue) PBT Rs. 113
Slide 26: P&L – Consolidated
P&L – CONSOLIDATED Q1 FY ‘16 Q1 FY ‘15 Exports Rs. 242 cr. Rs. 196 cr. 23% (62% to Revenue) (61% to Revenue) Domestic Rs. 144 cr. Rs. 119 cr. 21% (37% to Revenue) (37% to Revenue) Total Revenue Rs. 391 cr. Rs. 322 cr. 22% EBITDA Rs. 123 cr. Rs. 97 cr. 26% (31% to Revenue) (30% to Revenue) PBT Rs. 11
Slide 27: Consistent Track Record of Growth
CONSISTENT TRACK RECORD OF GROWTH 1750 Consolidated Net Sales & PAT 350 57% CAGR PAT (Rs. cr.) 310 31% CAGR Net Sales 1500 1,453 300 1250 Total Income 1,178 250 Profit After Tax 1000 920 234 200 750 665 112 150 497 500 100 77 51 250 50 13th August 2015 0 0 2011 2012 2013 2014 2015 27 of 36
Slide 28: Financial Performance
FINANCIAL PERFORMANCE Net Margin 21 EBITDA Margin 34 (%) 19 (%) 31 24 21 11 12 18 10 2011 2012 2013 2014 2015 2011 2012 2013 2014 2015 47 ROCE 52 RONW 43 (%) 47 (%) 32 38 29 25 23 18 13th August 2015 2011 2012 2013 2014 2015 2011 2012 2013 2014 2015 28 of 36
Slide 29: Consolidated Key Financial Indicators
CONSOLIDATED KEY FINANCIAL INDICATORS Rs. Q1 FY ’16 Particulars FY ‘11 FY ‘12 FY ‘13 FY ‘14 FY ‘15 (Q1 FY ‘15) EPS 6 9 13 27 35 9 (7) Cash EPS 9 12 17 32 41 11 (8) EBITDA per share 11 17 26 43 59 14 (11) EBITDA margin 20% 22% 24% 31% 35% 31% (30%) PAT margin 10% 11% 12% 19% 21% 21% (19%) R & D Exp.
Slide 30: Consolidated Key Financial Indicators
CONSOLIDATED KEY FINANCIAL INDICATORS Q1 FY ’16 Particulars FY ‘11 FY ‘12 FY ‘13 FY ‘14 FY ‘15 (Q1 FY ‘15) Book value per share (Rs.) 26 34 45 67 96 105 (74) Dividend/share (Rs.) (FV Rs.2) 1.00 1.50 2.50 4.00 6.00 N.A. (N.A.) RONW 25% 29% 32% 47% 43% 42% (37%) ROCE 18% 23% 38% 47% 52% 48% (47%) Divi
Slide 31: Consolidated Key Financial Indicators
CONSOLIDATED KEY FINANCIAL INDICATORS Q1 FY ’16 Particulars FY ‘11 FY ‘12 FY ‘13 FY ‘14 FY ‘15 (Q1 FY ‘15) Long term debt / Equity 0.36 0.35 0.19 0.12 0.06 0.05 (0.10) Total debt/equity 0.83 0.67 0.32 0.22 0.09 0.07 (0.15) Receivable days 76 77 60 63 65 70 (53) Inventory days 83 92 59 48 40 34 (45)
Slide 32: Corporate
CORPORATE 13th August 2015 32 of 36
Slide 33: Right Initiatives for Right Cause
RIGHT INITIATIVES FOR RIGHT CAUSE 136 diagnostic camps in different parts of the state 12,566 patients registered for these camps 6,372 free cataract surgeries at 40+ centres 11,771 patients took the benefit of Annachatra, the subsidized food program Relief material to earthquake victims o
Slide 34: Disclaimer
DISCLAIMER This presentation may include certain ‘forward looking statements’, based on current expectations, forecasts and assumptions within the meaning of applicable laws and regulations. They are subject to risks and uncertainties which could cause actual outcomes and results to differ materiall
Slide 35: 13 th August 2015
For updates and company information please visit our website: www.ajantapharma.com For specific queries, contact: Rajeev Agarwal rajeev.agarwal@ajantapharma.com 022-66061377 Ajanta Pharma Limited Ajanta House, Charkop, Kandivli (W), Mumbai 400 067 CIN No. - L24230MH1979PLC022059 13th August 2015 NSE
Slide 36: Thank You!
Value Aim THANK YOU! Continue Look Forward 13th August 2015 36 of 36