Torrent Pharmaceuticals Ltd · NSE:TORNTPHARM
Torrent Pharmaceuticals — Q2 FY2015 Earnings Presentation
27 slides from Torrent Pharmaceuticals's earnings presentation, 2014
Slide 1: Investor Presentation Q2 FY 2014-15
Investor Presentation Q2 FY 2014-15
Slide 2: Caveat
Caveat This information may contain certain forward-looking statements/ details in the current scenario, which is extremely dynamic and increasingly fraught with risks and uncertainties. Actual results, performances, achievements or sequence of events may be materially different from the views expre
Slide 3: Agenda
AGENDA Performance over Period Acquisition Segmental Highlights Financial Highlights Q2
Slide 4: Performance over Period
torrent PHARMA Performance over Period
Slide 5: Torrent Pharma: Assets Across the Value Chain
Torrent Pharma: Assets Across the Value Chain Domestic Sales Branded Research and International Manufacturing and Generics Development Operations Marketing Player Value-added API + formulation Broad and Reach to over 70 More than 40% generics facilities having differentiated product countr
Slide 6: Torrent Pharma Today
Torrent Pharma Today FY 13-14 Revenues : = 4184 crores Brazil CRAMS Others 8% a India 28% 35% International 63%
Slide 7: 5 year performance
5 year performance 35% 30% 28% 24% 26% 33% 32% 30% 28% 26% 12% 13% 14% 14% 12% 18% 18% 18% 16% 16% 21% 23% 22% 21% 21% 09-10 10-11 11-12 12-13 13-14 EBIT DA to sales PBT to sales PAT to sales Ro CE ROE
Slide 8: Acquisition
torrent PHARMA Acquisition
Slide 9: Torrent – Yesterday & Today
Torrent – Yesterday & Today • Torrent Pre-acquisition • Torrent Today • Strong • Multi-specialty strengths with Cardio/Neuropsychiatry mass brands like SHELCAL company • Strong Cardio/Neuropsychiatry/ • 4 decades of legacy in niche Nutraceuticals/Pain presence marketing/super-specialties • Poised to
Slide 10: New balance – Therapies (Pre & Post Elder)
New balance – Therapies (Pre & Post Elder) PAIN REST THERAPY DERMA 2% 2% REST GYNAEC 1% THERAPY VMN 2% GYNAEC 2% DERMA 2% PAIN 2% 2% 5% ANTI DIAB ANTI DIAB 7% 6% ANTI- CARDIAC CARDIAC INFECT 31% 36% 8% ANTI-INFECT 10% VMN 12% G.I 18% CNS 17% G.I 15% CNS 20% Pre- Acquisition Post-Acquisition New stro
Slide 11: Acquired portfolio: Recent Trends – Growing back to glory
Acquired portfolio: Recent Trends – Growing back to glory…. Monthly Trend* Growth - Quarterly COB AP A2 B GYN Linear (COB) Improvements 3278 3067 Cov. Mkt Acq. Business 2609 2680 2644 18 2294 2313 2155 2203 13 2274 2202 1894 1841 1899 1569 1625 1653 1667 7 1005 838 865 641 646 715 745 586 579 0 % Gr
Slide 12: Financials
Financials • Acquisition funded by Long Term Debt of ` 1,400 crs & balance by Internal Accruals. • The total Debt outstanding as on September 2014 is ` 2,321 crores with a gearing ratio of less than 1. • Amortization of Intangibles to be done over a period of 15 yrs. • Acquisition is likely to be ca
Slide 13: Segmental Highlights
torrent PHARMA Segmental Highlights
Slide 14: Business Segment : India
Business Segment : India
Slide 15: Existing divisions (Other than Acquired portfolio)
Existing divisions (Other than Acquired portfolio) MAT VAL MAT VAL MAT VAL Growths vs. Market* No.of Brands SEP 12 SEP 13 SEP 14 IPM Gr% 16 7 9 Brand Torrent Torrent TPL Total Gr% 13 16 16 Slab 2010 2014 IPM Wo AI Gr% 16 8 10 TPL wo AI %Gr 16 19 17 100+ Cr 0 1 50-100 Cr 0 6 • Among the top 5 growing
Slide 16: India
India ` Cr Q2 Q2 India 13-14 12-13 14 - 15 13 - 14 Revenues 442 297 1161 1024 % Growth 49% 13% Q2 FY 15 Highlights • MAT Sep-14: 9%, Covered Market growth (Excl: Elder Portfolio): 9%, Torrent growth (Excl: Elder Portfolio): 15% • Current quarter, includes sales from acquired business from Elder. Exc
Slide 17: Business Segment : International
Business Segment : International
Slide 18: USA
USA ` Cr Q2 Q2 USA 13-14 12-13 14 - 15 13 - 14 Revenues 167 115 776 355 % Growth 45% 119% Q2 FY 15 Highlights • Constant Currency Growth 49%, driven by New Products. • Molecule growth continues to be high for products like Losartan +15%, Montelukast IR +13%, Pantoprazole +13%. • Torrent market share
Slide 19: Brazil
Brazil ` Cr Q2 Q2 Brazil 13-14 12-13 14 - 15 13 - 14 Revenues 160 125 533 502 %Growth 28% 6% Q2 FY 15 Highlights • Constant currency Growth 32% • Covered Market Growth (excluding Government reimbursement programme) is 11%, Torrent growth 20% as per IMS in units term. • Products where prices were red
Slide 20: Europe
Europe ` Cr Q2 Q2 Europe 13-14 12-13 14 - 15 13 - 14 Revenues 248 235 930 650 % Growth 5% 43% Q2 FY 15 Highlights • Constant currency growth 8% • Germany Operations key contributor to growth Growth drivers • New Products going off patent and Therapy coverage expansion in Heumann • Growing product pi
Slide 21: ROW
ROW ` Cr Q2 Q2 ROW 13-14 12-13 14 - 15 13 - 14 Revenues 97 97 388 328 % Growth 0% 19% Q2 FY 15 Highlights • Stagnated revenues mainly due to: • Discontinuation of Business in non performing countries. Growth drivers • Middle East/ Africa Region Delivering the growth being an upcoming market • Contin
Slide 22: Financial Highlights – Q2 FY 15
Financial Highlights – Q2 FY 15
Slide 23: Q2 FY15 Performance Highlights
Q2 FY15 Performance Highlights • Revenues at ` 1,217 Cr vs. ` 972 Cr, growing at 25%; • India formulation market growing at 49% • Excluding sales from acquired business from Elder growth for quarter would have been 17%. • International operations growing at 17%; Constant currency growth of 21% • USA
Slide 24: Revenue Progression
Revenue Progression ` Cr Q2 Q2 Particulars Gwth% 13-14 12-13 Gwth% 14 - 15 13 - 14 India (A) 442 297 49% 1,161 1,024 13% International (B) 673 573 17% 2,629 1,827 44% Total (A+B) 1,115 870 28% 3,791 2,852 33% USA 167 115 45% 776 355 119% Brazil 160 125 28% 533 502 6% Europe 248 235 5% 930 650 43% RO
Slide 25: P&L
P&L ` Cr Q2 Q2 H1 H1 Particulars 14 - 15 13 - 14 14-15 13-14 REVENUES 1,217 972 2,331 1,944 % Growth 25% 20% COGS 381 301 682 600 % Revenues 31% 31% 29% 31% SG&A Spend 339 274 623 554 % Revenues 28% 28% 27% 28% Employee Cost 224 182 408 354 % Revenues 18% 19% 18% 18% EBITDA 273 215 618 436 % Revenue
Slide 26: Balance Sheet
Balance Sheet ` Cr P a rticu la rs 3 1-M a r-14 % 30-S e p -1 4 % ∆ EQ U IT Y A N D L IA B IL IT IES S h a re h o ld e rs fu n d s 1,902 6 6% 2 ,3 77 49 % 47 4 M in o rity In te re st 0 0% 0 0% 0 L o n g T e rm B o rro w in g s 744 2 6% 2 ,1 05 44 % 1,36 1 N o n -cu rre n t lia b ilitie s 248 9% 3 3
Slide 27: Thank You
Thank You
Torrent Pharmaceuticals — Q2 FY2015 Earnings Presentation on 6ix