Sun Pharmaceutical Industries Limited · NSE:SUNPHARMA
Sun Pharmaceutical Industries — Ranbaxy Laboratories — Q2 2013 Earnings Presentation
18 slides from Sun Pharmaceutical Industries's earnings presentation, Aug 7, 2013
Slide 1: Financial Results: April–June 2013 (Q2)
Ranbaxy Laboratories Limited FINANCIAL RESULTS: April – June 2013 (Q2) YTD June 2013 (H1) ARUN SAWHNEY CEO & MD Dept. 07 Aug 2013Name Post Results Conference Call Privileged and Confidential
Slide 2: Safe Harbor
Safe Harbor Except for the historical information contained herein, statements in this presentation and the subsequent discussions, which include words or phrases such as “will”, “aim”, “will likely result”, “would”, “believe”, “may”, “expect”, “will continue”, “anticipate”, “estimate”, “intend”, “p
Slide 3: Key Achievements for Quarter 2, 2013
1/2 Key Achievements for Quarter 2, 2013 Financial Base business sales grew by >10% over the corresponding quarter EBITDA margins on base business continue to improve 32,046 26,332 8% 8% Rs. Mn Q2 2012 Q2 2013 Q2 2012 Q2 2013 Sales EBITDA/ Sales Growth calculated on Constant Forex Privileged and
Slide 4: Highlights: Quarter 2, 2013
2/2 Highlights: Quarter 2, 2013 Improved Business and Quality Assurance Business standards Branded and OTC category sales Rs.13,445 Mn 51% of sales for the Quarter Generic including API sales Rs.12,887 Mn USA: India: Strong base business sales Pricing policy and trade related encourage
Slide 5: Functional Performance
Functional Performance Manufacturing Work towards improvement and control of manufacturing expenses: benchmarking and review of raw material costs, solvent recoveries and capacities Research & Development Regulatory Filings and approvals DF filings: 93; DF approvals: 35 1 ANDA filed in USA P
Slide 6: Hybrid Business Model
Hybrid Business Model Synergy with Daiichi Sankyo Front end: Ranbaxy and DS continue to work together in multiple markets viz. India, Romania, Africa, Thailand, Mexico, Peru etc Ongoing: R&D collaborations continue to address various markets and cost efficiencies Privileged and Confidential
Slide 7: Other Areas
Other Areas Regulatory Consent Decree: satisfactory progress 16 National level regulatory agency inspections Derivatives Position Exposure down to ~$860 Mn as on 30 Jun 2013 from ~960 Mn in Q1 2013. Maturity: ~$35 Mn/month Debt Debt $986 Mn; Cash & Bank $259 Mn Net Debt $727 Mn Paid DOJ
Slide 8: Financial Performance
Ranbaxy Laboratories Limited Financial Performance FINANCIAL RESULTS: April – June 2013 (Q2) YTD June 2013 (H1) Dept. Name Privileged and Confidential
Slide 9: Sales Performance
Sales Performance Rs. Mn Consolidated Sales Consolidated Sales Q2 2013 H1 2013 69,136 50,730 32,046 26,332 (20%) (29%) Q2 2012 Q2 2013 H1'12 H1'13 Base business growth momentum continues with >10% growth on Quarter and H1 basis Emerging markets including LATAM and branded business of APAC and Ru
Slide 10: North America
North America Rs. Mn Major markets 35,645 -USA -Canada 14,716 15,408 8,516 (44%) (59%) Q2 2012 Q2 2013 H1'12 H1'13 Base business sales in the USA strengthens. Absorica™ helped sales in Q2 2013 Q2 2012 sales were higher due to continued contribution from exclusivities Growth calculated on Constan
Slide 11: India
India Rs. Mn 10,275 10,853 5,388 5,426 1% 6% Q2 2012 Q2 2013 H1'12 H1'13 Sales for the quarter impacted by pricing policy and trade concerns Slow growth in anti-infectives market continued to hamper growth in India business Growth calculated on Constant Forex Privileged and Confidential 11
Slide 12: Eastern Europe & CIS
Eastern Europe & CIS Rs. Mn Major markets -Romania 6,865 -Russia 6,032 -Ukraine 3,109 3,260 0% 7% Q2 2012 Q2 2013 H1'12 H1'13 Terapia continued to maintain leadership in the Generics + OTC space Ranbaxy grew 11% against the represented market growth rate of 8% in Russia Growth calculated on Cons
Slide 13: Western Europe
Western Europe Rs. Mn Major markets -France -Germany 4,991 -UK 3,975 2,707 1,958 (31%) (25%) Q2 2012 Q2 2013 H1'12 H1'13 Developed markets of France, UK and Italy witnessed decline in sales over the corresponding quarter Growth calculated on Constant Forex Privileged and Confidential 13
Slide 14: Asia Pacific & Latin America
Asia Pacific & Latin America Rs. Mn 3,752 3,741 Major markets -ANZ -Malaysia -Brazil 2,082 1,801 13% (4%) Q2 2012 Q2 2013 H1'12 H1'13 Rosuvastatin launch in Australia helped APAC performance Sales growth in LATAM led by Brazil sales performance Growth calculated on Constant Forex Privileged and
Slide 15: Africa & Middle East
Africa & Middle East Rs. Mn Major markets 5,811 -South Africa 5,099 -Nigeria 2,828 2,661 9% 16% Q2 2012 Q2 2013 H1'12 H1'13 Branded generic sales in Africa grew Growth calculated on Constant Forex Privileged and Confidential 15
Slide 16: API & Others
API & Others Rs. Mn 4,077 3,342 2,263 1,664 31% 16% Q2 2012 Q2 2013 H1'12 H1'13 Continued focus on markets and molecules leading to stronger profitability Growth calculated on Constant Forex Privileged and Confidential 16
Slide 17: Financials Q2 2012: INR
Financials Q2 2012: INR Q2'12 H-I '12 Particulars QII'13 H-I '13 5,614 10,650 -Within India 5,561 11,172 26,432 58,485 - Outside India 20,771 39,558 32,046 69,136 Sales 26,332 50,730 544 1,268 Other operating income 502 1,110 32,590 70,403 Total Operating Income 26,835 51,840 10,237 18,682 Total Mat
Slide 18: Questions & Answers
Questions & Answers Dept. Name Privileged and Confidential