Jubilant Pharmova Limited · NSE:JUBLPHARMA
Jubilant Pharmova — Jubilant Life Sciences — Q4 FY2016 Earnings Presentation
27 slides from Jubilant Pharmova's earnings presentation, May 24, 2016
Slide 1: Financial Results Quarter Ended March 31, 2016
Financial Results Quarter Ended March 31, 2016
Slide 2: Disclaimer
Disclaimer Statements in this document relating to future status, events, or circumstances, including but not limited to statements about plans and objectives, the progress and results of research and development, potential product characteristics and uses, product sales potential and target dates f
Slide 3: Conference Call Details
Conference Call Details Date : Tuesday, May 24, 2016 Time : 05:00 pm IST Primary Number: +91 22 3938 1071 Secondary Number: +91 22 6746 8354 6000 1221 Available in – Ahmedabad, Bengaluru, Chennai, Cochin, Delhi, Gurgaon, Hyderabad, Kolkata, Noida. Accessible from all major carriers except BSNL/MTNL.
Slide 4: Q4'16 Results Analysis
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Slide 5: Income Statement – Q4'FY16
Income Statement – Q4’FY16 Particulars Q4'FY15 Q4'FY16 YoY Growth (Rs Crs) (%) Total Income from Operations 1,537 1,501 ‐2% Total Expenditure 1,289 1,181 Other Income 6 3 EBITDA including Other Income 253 323 27% Depreciation and Amortization 66 126 Finance Cost 85 92 Profit after Interest but befor
Slide 6: Financial Highlights – Q4'FY16
Financial Highlights – Q4’FY16 • Income from Operations at Rs. 1,501 Crore, decline of 2% YoY • Pharmaceuticals reports highest ever revenues of Rs. 839 Crores, growing 10% YoY and 15% QoQ; Contributes 56% to total revenues • 14% decline in Life Science Ingredients (2% growth QoQ) mainly due to lowe
Slide 7: Segmental Revenue Analysis – Q4'FY16
Segmental Revenue Analysis – Q4’FY16 Revenue (Rs. Crs.) Revenue Mix Segmental Revenue Analysis YoY Growth % Q4'FY15 Q4'FY16 (%) Pharmaceuticals 763 839 56% 10% Life Science Ingredients 774 662 44% ‐14% Income from Operations 1,537 1,501 100% ‐2% • Pharmaceuticals segment revenue at Rs. 839 Crore, co
Slide 8: Company Revenue – Geography wise – Q4'FY16
Company Revenue – Geography wise – Q4’FY16 Geo‐wise Revenue (Rs crs) Q4'FY15 Q4'FY16 Mix % YoY % International 1,111 1,130 75% 2% USA & Canada 630 597 40% ‐5% Europe & Japan 283 325 22% 15% China and ROW 199 209 14% 5% India 425 371 25% ‐13% Income from Operations 1,537 1,501 100% ‐2% • 75% of Incom
Slide 9: Pharma Revenue – Geography wise – Q4'FY16
Pharma Revenue – Geography wise – Q4’FY16 Geo‐wise Revenue (Rs crs) Q4'FY15 Q4'FY16 Mix % YoY % International 738 808 96% 10% USA & Canada 579 547 65% ‐5% Europe & Japan 104 155 18% 49% ROW 55 106 13% 93% India 25 31 4% 26% Income from Operations 763 839 100% 10% • 96% of Income from International M
Slide 10: Pharma Business Highlights – Q4'FY16
Pharma Business Highlights – Q4’FY16 • 8 API filings, including 2 in US (Febuxostat and Olanzapine) and CEP (Solifenacin) • Launched Eslicarbazepine API for ROW market • 4 Solid Dosage Formulations filings, including Niacin in US, Escitalopram in Canada and Olmesartan in Japan; 12 approvals received
Slide 11: LSI Revenue – Geography wise – Q4'FY16
LSI Revenue – Geography wise – Q4’FY16 Geo‐wise Revenue (Rs crs) Q4'FY15 Q4'FY16 Mix % YoY % International 373 322 49% ‐14% Europe, North America and Japan 230 219 33% ‐4% China and ROW 144 103 15% ‐29% India 401 340 51% ‐15% Income from Operations 774 662 100% ‐14% • Decline in revenues mainly due
Slide 12: LSI Business Highlights – Q4'FY16
LSI Business Highlights – Q4’FY16 • Strategic initiatives of retrofitting the plants to increase the capacity utilization is well in progress • Started supplies of a Pharma intermediate • Commercial supplies to start in Q4 FY17 for two products for Agro‐intermediates • These are all developed with e
Slide 13: Expenditure Analysis – Q4'FY16
Expenditure Analysis – Q4’FY16 Expenses (Rs Crs) Q4 FY15 % of Sales Q4 FY16 % of Sales YoY Growth % Material Cost 714 46% 568 38% ‐20% Power & Fuel Expense 79 5% 79 5% 0% Employee Benefits Expense 275 18% 284 19% 3% Other Expenses 205 13% 250 17% 22% Total Expenses 1273 83% 1181 79% ‐7% Exceptional
Slide 14: EBITDA Analysis – Q4'FY16
EBITDA Analysis – Q4’FY16 EBITDA (Rs. Crs) Business Segments Q4'FY15 Q4'FY16 YoY Growth % Pharmaceuticals 200 230 15% Life Science Ingredients 66 106 61% Less: Corp Expenses (13) (13) Reported EBITDA 253 323 27% Margins (%) YoY Variance (Bps) Pharmaceuticals 26.2% 27.4% 112 Life Science Ingredients
Slide 15: Annual Results Analysis
Annual Results Analysis 14 14
Slide 16: Income Statement – FY16
Income Statement – FY16 Particulars FY15 FY16 YoY Growth (Rs Crs) (%) Total Income from Operations 5,826 5,802 0% Total Expenditure 5,137 4,525 Other Income 42 14 EBITDA including Other Income 732 1,291 76% Depreciation and Amortization 288 346 Finance Cost 355 379 Profit after Interest but before E
Slide 17: Financial Highlights – FY16
Financial Highlights – FY16 • Income from Operations at Rs. 5,802 crs • 14% increase in Pharmaceuticals revenues driven by CMO, Radiopharmaceuticals and APIs • 13% decline in Life Science Ingredients mainly due to competition from crude‐derived substitutes and Chinese competition • EBITDA at Rs. 1,2
Slide 18: Company Revenue – Geography wise – FY16
Company Revenue – Geography wise – FY16 Geo‐wise Revenue (Rs crs) FY15 FY16 Mix % YoY % International 4,137 4,260 73% 3% USA & Canada 2,199 2,380 41% 8% Europe & Japan 1,166 1,155 20% ‐1% China and ROW 772 724 12% ‐6% India 1,690 1,543 27% ‐9% Income from Operations 5,826 5,802 100% 0% • 73% of Inco
Slide 19: Pharma Revenue – Geography wise – FY16
Pharma Revenue – Geography wise – FY16 Geo‐wise Revenue (Rs crs) FY15 FY16 Mix % YoY % International 2,560 2,913 95% 14% USA & Canada 1,964 2,189 72% 11% Europe & Japan 386 440 14% 14% ROW 210 284 9% 35% India 122 142 5% 16% Income from Operations 2,682 3,055 100% 14% • 95% of Income from Internatio
Slide 20: Pharma Product Development Strategy and R&D Pipeline
Pharma Product Development Strategy and R&D Pipeline North America Strategy • Generics • Pipeline includes total 72 ANDA filings (including 44 approved) in US and 22 filings (including 18 approved) in Canada till 31st March 2016 • 1 filing and 8 approvals in US and 4 filings and 2 approvals in Can
Slide 21: LSI Revenue – Geography wise – FY16
LSI Revenue – Geography wise – FY16 Geo‐wise Revenue (Rs crs) FY15 FY16 Mix % YoY % International 1,577 1,347 49% ‐15% Europe, North America 1,015 906 33% ‐11% and Japan China and ROW 562 441 16% ‐22% India 1,567 1,401 51% ‐11% Income from Operations 3,144 2,748 100% ‐13% • 49% of Income from Intern
Slide 22: LSI Business Highlights – FY16
LSI Business Highlights – FY16 • Better price realization in Specialty Intermediates and Nutritional Products • Volume reduction in Advanced Intermediates due to lower demand of agrochemicals and increased competition in China • Lower revenue in Life Science Chemicals due to increased price led comp
Slide 23: Expenditure Analysis – FY16
Expenditure Analysis – FY16 Expenses (Rs Crs) FY15 % of Sales FY16 % of Sales YoY Growth % Material Cost 2,662 46% 2,117 36% ‐20% Power & Fuel Expense 393 7% 367 6% ‐7% Employee Benefits Expense 1,090 19% 1,127 19% 3% Other Expenses 992 17% 914 16% ‐8% Total Expenses 5,137 88% 4,525 78% ‐12% Excepti
Slide 24: EBITDA Analysis – FY16
EBITDA Analysis – FY16 EBITDA (Rs. Crs) Business Segments FY15 FY16 YoY Growth % Pharmaceuticals 445 889 100% Life Science Ingredients 322 447 39% Less: Corp Expenses (35) (45) Reported EBITDA 732 1,291 76% EBITDA Margins (%) YoY Variance (Bps) Pharmaceuticals 16.6% 29.1% 1254 Life Science Ingredien
Slide 25: Debt Profile
Debt Profile Particulars 31‐Mar‐15 31‐Dec‐15 31‐Mar‐16 Foreign Currency Loans ($ Mn) ($ Mn) ($ Mn) Standalone 105 65 55 Subsidiaries 338 347 320 Total 443 412 375 Rupee Loans (Rs. Crs) (Rs. Crs) (Rs. Crs) Standalone 1,513 1,263 1,401 Subsidiaries 509 542 626 Total 2,022 1,805 2,026 Gross Debt 4,790
Slide 26: Outlook
Outlook In FY 2017, expect to continue the growth momentum of the company • Revenue growth in Pharmaceuticals segment expected to be driven by: • New product launches in Generics and Radiopharmaceuticals • Growth in ROW business • Ramp up of Operations in CMO of Sterile Injectables and Oral‐Solid
Slide 27: For more information
For more information For Investors: Ravi Agrawal Siddharth Rangnekar Jubilant Life Sciences Limited CDR India Ph: +91‐120‐436 1002 Ph: +91‐22‐6645 1209 E‐mail: ravi_agrawal@jubl.com E‐mail: siddharth@cdr‐india.com For Media: Sudhakar Safaya Kanika Mittal Jubilant Life Sciences Limited Perfect Relati
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