Ipca Laboratories Limited · NSE:IPCALAB
Ipca Laboratories — Investor Presentation (December 2021)
66 slides from Ipca Laboratories's investor presentation, December 2021
Slide 1: Ipca Laboratories Ltd. Corporate Presentation
Ipca Laboratories Ltd. Corporate Presentation Dec 2021 1
Slide 2: Company Overview
Company Overview Incorporation : 1949 Present Management : Since 1975 Total income F. Y. 2020-21 : ` 5201.40 Crs / US$ 699 Mn (Standalone) ` 5482.83 Crs / US$ 737 Mn (Consolidated) Exports F. Y. 2020-21 : ` 2717.19 Crs / US$ 365 Mn Business Model : Integrated pharmaceutical company producing Branded
Slide 3: Five Years' Highlights Standalone
Five Years’ Highlights Standalone 2016-17 2017-18 2018-19 2019-20 2020-21 Domestic Income ( ` Crs ) 1,617.13 1,694.54 1,956.90 2,288.37 2,484.21 Domestic Income (US $ Mn) 228.28 239.21 276.24 323.03 333.94 Export Income ( ` Crs ) 1,561.74 1,564.21 1,730.84 2,143.75 2,717.19 Export Income (US $ Mn) 2
Slide 4: Five Years' Highlights Consolidated
Five Years’ Highlights Consolidated 2016-17 2017-18 2018-19 2019-20 2020-21 Domestic Income ( ` Crs ) 1,617.13 1,694.68 1,956.90 2,327.88 2,519.77 Domestic Income (US $ Mn) 228.28 239.23 276.24 328.61 338.72 Export Income ( ` Crs ) 1,616.08 1,630.69 1,873.96 2,387.83 2,963.06 Export Income (US $ Mn)
Slide 5: Manufacturing Facilities
Manufacturing Facilities Formulations 5
Slide 6: Manufacturing Facilities - Formulations
Manufacturing Facilities Formulations Location Dosage Form Approvals / Inspections UK-MHRA, TGA-Australia, WHO-Geneva, EU Certification by German Authority, Athal Health Canada, GCC, MOH- Columbia, Tablets & Capsules (Dadra & Nagar Haveli) FDA Ghana, MOH Oman, NDA - Uganda, NHRA – Bahrain, Medicine
Slide 7: Manufacturing Facilities - Formulations
Manufacturing Facilities Formulations Location Dosage Form Approvals / Inspections Silvassa WHO-GMP, TGA-Australia, Health-Canada, Tablets & Capsules (Dadra & Nagar Haveli) Local FDA Unit – I : WHO-GMP Dehradun, Tablets & Unit - II: WHO-GMP, GHANA-FDA, (Uttarakhand) Cephalosporin Injectables NAFDAC
Slide 8: Manufacturing Facilities - APIs
Manufacturing Facilities Active Pharmaceutical Ingredients (APIs) 8
Slide 9: Manufacturing Facilities - APIs
Manufacturing Facilities APIs Location Approvals / Inspections TGA-Australia, EDQM, PMDA-Japan, WHO-Geneva, Ratlam (Madhya Pradesh) Health Canada, EU-GMP (LaGesso, Berlin), MOH Russia, MFDS (Korea), CDSCO- India, Cofepris (Mexico), EU WC Indore (Madhya Pradesh) WHO-Geneva, CDSCO- India, EU WC Ankles
Slide 10: Revenue Break-up
S£ipca dose of life Revenue Break-up
Slide 11: Revenue Break-up - Standalone
Revenue Break-up - Standalone 2020 - 21 70% 76% 60% Total Formulations 52% APIs Total Exports Revenue Revenue 40% Domestic 24% 30% 48% 84% 59% 71% 84% Exports Formulations Domestic Formulations APIs APIs 29% 41% 16% 16% 11
Slide 12: Revenue Break-up Standalone
Revenue Break-up Standalone 2020-21 2019-20 ` Crs Domestic Exports Total Domestic Exports Total Growth Branded Formulations 1981.67 403.42 2385.09 1912.61 381.53 2294.14 4.0% Generic Formulations - 1193.77 1193.77 - 840.02 840.02 42.1% Total Formulations 1981.67 1597.19 3578.86 1912.61 1221.55 3134.
Slide 13: Financials
S£ipca Adose of life Financials
Slide 14: Financials - Standalone F.Y. 2020-21
Financials - Standalone F.Y. 2020 - 21 F.Y. 2019 - 20 % ` Crs US$ Mn ` Crs US$ Mn Growth Total Income 5201.40 699 4432.12 626 17% EBIDT 1534.47 206 993.41 140 54% EBIDT % 29.50% 22.41% PBT # 1379.96 186 784.97 111 76% PBT % 26.53% 17.71% PAT # 1140.77 153 652.46 92 75% PAT % 21.93% 14.72% # After fo
Slide 15: Profitability FY 2020-21
Financials - Standalone Profitability FY 2020-21 FY 2019-20 PBIDT 29.50% 22.41% PBT 26.53% 17.71% PAT 21.93% 14.72% 15
Slide 16: Financials - Standalone Business Characteristics
Financials - Standalone Business Characteristics FY 2020-21 FY 2019-20 Return on Capital Employed % (PBIT / Capital Employed) 27.97% 20.26% Return on Net Worth % (PAT / Net Worth) 24.00% 17.80% Fixed Asset Turnover Ratio (Total Income / Net Fixed Assets) 2.54 2.30 Capital Employed Turnover Ratio (To
Slide 17: Growth FY 2020-21
Financials - Standalone Growth FY 2020-21 FY 2019-20 Net Total Income 17.4% 20.2% Domestic Sales 9.5% 17.0% Export Sales 26.7% 23.9% PBIDT 54.5% 29.8% PBT 75.8% 40.8% Net Profit 74.8% 43.4% 17
Slide 18: Financials - Standalone Q1 FY22
Financials - Standalone Q1 FY22 Q1 FY21 % ` Crs US$ Mn ` Crs US$ Mn Growth Total Income 1492.21 202 1496.93 198 0% EBIDT 404.37 55 593.60 78 -32% EBIDT % 27.10% 39.65% PBT # 356.37 48 551.94 73 -35% PBT % 23.88% 36.87% PAT # 284.72 39 453.64 60 -37% PAT % 19.08% 30.30% # After forex gain of ` 3.22 C
Slide 19: Financials - Standalone Q2 FY22
Financials - Standalone Q2 FY22 Q2 FY21 % ` Crs US$ Mn ` Crs US$ Mn Growth Total Income 1438.91 194 1312.77 177 10% EBIDT 354.38 48 358.14 48 -1% EBIDT % 24.63% 27.28% PBT # 322.12 43 327.09 44 -2% PBT % 22.39% 24.92% PAT # 257.64 35 275.68 37 -7% PAT % 17.91% 21.00% # After forex gain of ` 19.71 Cr
Slide 20: Financials - Standalone Q3 FY22
Financials - Standalone Q3 FY22 Q3 FY21 % ` Crs US$ Mn ` Crs US$ Mn Growth Total Income 1341.71 179 1330.87 180 1% EBIDT 315.12 42 359.12 49 -12% EBIDT % 23.49% 26.98% PBT # 272.24 36 315.26 43 -14% PBT % 20.29% 23.69% PAT # 218.17 29 259.97 35 -16% PAT % 16.26% 19.53% # After forex gain of ` 9.64 C
Slide 21: Financials - Standalone 9 Months FY22
Financials - Standalone 9 Months FY22 9 Months FY21 % ` Crs US$ Mn ` Crs US$ Mn Growth Total Income 4272.83 576 4140.57 554 3% EBIDT 1073.87 145 1310.86 175 -18% EBIDT % 25.13% 31.66% PBT # 950.73 128 1194.29 160 -20% PBT % 22.25% 28.84% PAT # 760.53 102 989.29 132 -23% PAT % 17.80% 23.89% # After f
Slide 22: Financials - Consolidated F.Y. 2020-21
Financials - Consolidated F.Y. 2020 - 21 F.Y. 2019 - 20 % ` Crs US$ Mn ` Crs US$ Mn Growth Total Income 5482.83 737 4715.71 666 16% EBIDT 1565.89 210 1016.40 143 54% EBIDT % 28.56% 21.55% PBT # 1381.28 186 738.89 104 87% PBT % 25.19% 15.67% PAT # 1141.14 153 603.56 85 89% PAT % 20.81% 12.80% # After
Slide 23: Financials - Consolidated Business Characteristics
Financials - Consolidated Business Characteristics FY 2020-21 FY 2019-20 Return on Capital Employed % (PBIT / Capital Employed) 28.24% 19.30% Return on Net Worth % (PAT / Net Worth) 24.20% 16.58% Fixed Asset Turnover Ratio (Total Income / Net Fixed Assets) 2.38 2.15 Capital Employed Turnover Ratio (
Slide 24: Growth FY 2020-21 Consolidated
Financials - Consolidated Growth FY 2020-21 FY 2019-20 Net Total Income 16.3% 23.1% Domestic Sales 9.2% 19.0% Export Sales 24.1% 27.6% PBIDT 54.1% 32.3% PBT 86.0% 36.2% Net Profit 89.1% 36.5% 24
Slide 25: Financials - Consolidated Q1 FY22
Financials - Consolidated Q1 FY22 Q1 FY21 % ` Crs US$ Mn ` Crs US$ Mn Growth Total Income 1586.81 215 1546.49 204 3% EBIDT 434.10 59 594.42 78 -27% EBIDT % 27.36% 38.44% PBT # 377.44 51 545.57 72 -31% PBT % 23.79% 35.28% PAT # 306.67 42 445.68 59 -31% PAT % 19.33% 28.82% # After forex gain of ` 3.46
Slide 26: Financials - Consolidated Q2 FY22
Financials - Consolidated Q2 FY22 Q2 FY21 % ` Crs US$ Mn ` Crs US$ Mn Growth Total Income 1562.51 211 1376.55 185 14% EBIDT 364.06 49 358.56 48 2% EBIDT % 23.30% 26.04% PBT # 325.64 44 321.21 43 1% PBT % 20.84% 23.33% PAT # 250.23 34 267.07 36 -6% PAT % 16.01% 19.40% # After forex gain of ` 19.60 Cr
Slide 27: Financials - Consolidated Q3 FY22
Financials - Consolidated Q3 FY22 Q3 FY21 % ` Crs US$ Mn ` Crs US$ Mn Growth Total Income 1443.40 193 1425.21 193 1% EBIDT 310.83 41 377.32 51 -18% EBIDT % 21.53% 26.47% PBT # 260.66 35 326.50 44 -20% PBT % 18.06% 22.91% PAT # 196.96 26 265.47 36 -26% PAT % 13.65% 18.63% # After forex gain of ` 9.91
Slide 28: Financials - Consolidated 9 Months FY22
Financials - Consolidated 9 Months FY22 9 Months FY21 % ` Crs US$ Mn ` Crs US$ Mn Growth Total Income 4592.72 619 4348.25 582 6% EBIDT 1108.99 149 1330.30 178 -17% EBIDT % 24.15% 30.59% PBT # 966.17 130 1194.35 160 -19% PBT % 21.04% 27.47% PAT # 753.85 102 978.67 131 -23% PAT % 16.41% 22.51% # After
Slide 29: Contribution of Therapeutic Groups
Financials - Standalone Contribution of Therapeutic Groups Domestic Exports Therapeutic Segment 2020 – 21 2019 – 20 2020 – 21 2019 – 20 Non Steroidal Anti-Inflammatory Drugs (NSAID) 52% 47% 28% 20% Cardiovasculars & Anti-Diabetics 19% 18% 23% 31% Anti-Bacterials 6% 8% 5% 6% Anti-Malarials 4% 6% 26%
Slide 30: Branded Formulations Domestic
Branded Formulations Domestic 30
Slide 31: Branded Formulations Domestic
Branded Formulations Domestic All India Rank IQVIA : 18th (MAT Dec’21). 25 Depots & 2 C&F agents. 16 Therapy Focused Marketing Divisions. Field Strength (PSR/ BA)– 5149 Over 2000 Wholesalers. 3 brands among top 300 brands (Zerodol-SP, Zerodol-P & HCQS). Market leaders in Rheumatoid Arthritis & Anti-
Slide 32: Branded Formulations Domestic Sales
Branded Formulations Domestic ` 1981.67 Crs US$ 266Mn ` 1912.61 Crs US$ 270 Mn ` 1646.83 Crs US$ 232 Mn ` 1425.38 Crs US$ 201 Mn Sales 2017 - 18 2018 - 19 2019 - 20 2020 - 21 32
Slide 33: 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 34: International Business
S£ipca Adose of life International Business
Slide 35: International Business
International Business Products of the company are now exported to over 100 countries across the globe. Recognized Star Trading House. 46% sales from exports. Field-force to promote brands in more than 35 countries of CIS, South East Asia, Middle East, Latin America and Africa. 35
Slide 36: 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 55 countries. 36
Slide 37: International Business Sales
International Business ` 2717.19 Crs US$ 365 Mn ` 2143.75 Crs US$ 303 Mn ` 1730.84 Crs US$ 244 Mn ` 1564.21 Crs US$ 221 Mn Sales 2017 - 18 2018 - 19 2019 - 20 2020 - 21 37
Slide 38: Continent-wise Exports 2020-21
International Business Continent-wise Exports 2020 –21 (` Crs) Bulk Drugs / % Continent Formulations Intermediates Total Contribution Europe 496.26 260.63 756.89 28% Africa 476.78 55.81 532.59 20% Americas 173.94 398.48 572.42 21% Asia 105.92 369.66 475.58 17% CIS 163.99 24.95 188.94 7% Australasia
Slide 39: International Formulations
International Formulations 39
Slide 40: International Formulations Sales
International Formulations ` 1597.19 Crs US$ 215 Mn ` 1221.55 Crs US$ 172 Mn ` 1048.26 Crs US$ 148 Mn ` 993.96 Crs US$ 140 Mn Sales 2017 - 18 2018 - 19 2019 - 20 2020 - 21 40
Slide 41: International Branded Formulations
International Branded Formulations 41
Slide 42: International Branded Formulations Sales
International Branded Formulations ` 403.42 Crs US$ 54 Mn ` 381.53 Crs ` 360.94 Crs US$ 54 Mn US$ 51 Mn ` 320.30 Crs US$ 45Mn Sales 2017 - 18 2018 – 19 2019 - 20 2020 - 21 42
Slide 43: 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 44: International Generics
S£ipca Adose of life International Generics
Slide 45: International Generics Sales
International Generics ` 1193.77 Crs Products US$ 160 Mn Products Country Under Registered Registration ` 840.02 Crs United Kingdom 78 17 / Europe US$ 119 Mn ` 687.32 Crs Australia / US$ 97 Mn 73 1 ` 673.66 Crs New Zealand US$ 95 Mn South Africa 40 22 Sales United States / Canada 35 28 2017 - 18 201
Slide 46: 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 47: International APIs
S£ipca Adose of life International APIs
Slide 48: International APIs Sales
International APIs ` 1120.00 Crs US$ 151 Mn ` 922.20 Crs US$ 130 Mn ` 682.58 Crs US$ 96 Mn ` 570.25 Crs US$ 80 Mn Sales 2017 - 18 2018 - 19 2019 - 20 2020 - 21 48
Slide 49: 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 50: 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 Chloroquine Phosphate a a 17 Chlorthalidone a 18 Chlorthalidone (CT3/CT7 Process) a 19 Chlorthalidone (CT7 Process) a 20 Chlorthalidone (CT6 Process) a a 21 Citalopram HBR a 22 Dihy
Slide 51: 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 Frusemide (Vetirinary) a 32 Glimepiride a a a 33 Hydrochlorothiazide (Process I) a a a CEP a 34 Hydrochlorothiazide (Process II) a a a 35 Hydrochlorothiazide (Process III) a 36 Hydr
Slide 52: 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 Metformin HCL a a 47 Metformin HCL (ML Process) a 48 Metformin HCL (ML2 Process) a 49 Metoclopramide HCl (M Process) a a 50 Metoclopramide HCl CEP a 51 Metoclopramide Base a 52 Meto
Slide 53: 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 Primaquine Phosphate a a 62 Piperaquine Phosphate a 63 Probenecid a 64 Proguanil Hydrochloride a a 65 Propranolol HCl a a a CEP a 66 Pyrantel Pamoate a 67 Pyrantel embonate a a 68 P
Slide 54: APIs - Drug Master Files
International APIs – Drug Master Files US- Canada- Japan - Sr. No. Name of the API FDA HPFB WHO PMDA Australia EDQM 76 Telmisartan a 77 Torsemide a a 78 Tramadol Hydrochloride a Tramadol Hydrochloride (YT2 79 Process) a Tramadol Hydrochloride (YT3 80 Process) a a 81 Trimethoprim a CEP a 82 Trimethop
Slide 55: 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 56: Research & Development
Research & Development APIs & Formulations 56
Slide 57: R&D Spending
Research & Development APIs & Formulations R & D Spending Year ` Crs % to Sales 2016-17 125.67 4.06% 2017-18 118.10 3.73% 2018-19 89.35 2.50% 2019-20 101.04 2.35% 2020-21 126.67 2.49% 57
Slide 58: Research & Development
Research & Development APIs & Formulations Current scientist manpower of around 548. 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 59: Acquisition of 100% share capital 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 60: Acquisition of 80% share capital 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 61: Acquisition of 100% share capital 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 62: Acquisition of M/s 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 63: Subscription of partnership interest in ABCD Technologies LLP
Subscription of partnership interest in ABCD Technologies LLP (to be renamed as IndoHealth Services LLP ) by the Company ABCD Technologies LLP (to be renamed as IndoHealth Services LLP), herein after referred to as the Target entity. The Target entity is a limited liability partnership ('LLP') that
Slide 64: Acquisition of further 13.09% of Trophic Wellness Pvt. Ltd.
Acquisition of further 13.09% of the paid-up equity share capital of M/s Trophic Wellness Pvt. Ltd. (TWPL) Acquisition of further 13.09% of the paid-up equity share capital of M/s Trophic Wellness Pvt. Ltd. (TWPL) for cash consideration of Rs. 21.20 Crs. Trophic Wellness Pvt. Ltd. (TWPL), a company
Slide 65: Acquisition of 26.574% of Lyka Labs Ltd.
Acquisition of 26.574% of the paid-up equity share capital of Lyka Labs Ltd. (Lyka) Acquisition of 26.574% of the paid-up equity share capital of Lyka Labs Ltd. for Rs. 97.89 crores in cash for purchase of shares from secondary market. Lyka Labs Ltd, a company incorporated in 1976 is engaged in the
Slide 66: 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
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