Slide 1: Financial Results Quarter Ended March 31, 2015
Financial Results Quarter Ended March 31, 2015
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 12, 2015 Time : 5:00 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: Q4'15 Results Analysis
JUBHANT LIFESCIENCES Q4’15 Results Analysis
Slide 5: Key Business Segments – Q4'FY15
Key Business Segments – Q4’FY15 Jubilant Life Sciences Pharmaceuticals Life Science Ingredients (50%) (50%) Generics Active Pharmaceutical Ingredients Advanced Intermediates Solid Dosage Formulations and Specialty Ingredients Specialty Pharmaceuticals (Sterile Products) Radiopharmaceutical
Slide 6: Income Statement – Q4'FY15
Income Statement – Q4’FY15 Particulars Q4'FY14 Q3'FY15 Q4'FY15 YoY Growth QoQ Growth (Rs Crs) (%) Total Income from Operations 1,562 1,445 1,537 -2% 6% Total Expenditure 1,317 1,260 1,289 Other Income 5 6 6 EBITDA including Other Income 251 191 253 1% 32% Depreciation 69 80 66 Finance Cost 65 86 80
Slide 7: Financial Highlights – Q4'FY15
Financial Highlights – Q4’FY15 • Income from Operations at Rs. 1,537 Crore • 8% YoY Growth in Pharmaceuticals segment revenues offset by lower revenues in Life Science Ingredients segment • Geographical growth in North America, India and ROW markets offset by lower sales in China, Europe and Japan •
Slide 8: Segmental Revenue Analysis – Q4'FY15
Segmental Revenue Analysis – Q4’FY15 Revenue (Rs. Crs.) Revenue YoY Growth QoQ Growth Segmental Revenue Analysis Q4'FY14 Q3'FY15 Q4'FY15 Mix (%) % % Pharmaceuticals 705 701 763 50% 8% 9% Life Science Ingredients 858 744 774 50% -10% 4% Income from Operations 1,562 1,445 1,537 100% -2% 6% Inter Divis
Slide 9: Business Highlights – Q4'FY15
Business Highlights – Q4’FY 15 Generics Active Pharmaceutical Ingredients • Higher volumes witnessed during the quarter • 2 DMFs filed during the quarter • Launched two products including Alendronate and Paliperidone in Canada • Total 39 commercial APIs, including 21 in North America, 24 in Europe a
Slide 10: Business Highlights – Q4'FY15
Business Highlights – Q4’FY 15 Specialty Pharmaceuticals (Sterile Products) Radiopharmaceuticals • Continued strong performance with significant improvement in margins • Strategic initiatives help improvement in business performance • Preparing for launch of Ruby-fill in the US market, subject to fi
Slide 11: Business Highlights – Q4'FY15
Business Highlights – Q4’FY 15 Advanced Intermediates, Specialty Ingredients and Nutritional Products • Anti-dumping duty review petition in China accepted by MOFCOM in our Pyridine business • Focus on sales in new markets to counter challenging business environment in China in Advanced Intermediate
Slide 12: Revenue Analysis – Geography wise – Q4'FY15
Revenue Analysis – Geography wise – Q4’FY15 ROW Geo-wise Revenue (Rs crs) Q4'FY14 Q3'FY15 Q4'FY15 Mix % YoY % 8.5% China India 403 409 422 27% 5% 5.1% International 1,159 1,037 1,115 73% -4% India 27.5% USA & Canada 581 567 621 40% 7% Europe & Europe & Japan 320 283 284 19% -11% Japan 18.5% China 16
Slide 13: Operating Expenditure Analysis – Q4'FY15
Operating Expenditure Analysis – Q4’FY15 % of % of % of YoY QoQ Expenses (Rs Crs) Q4 FY14 Q3 FY15 Q4 FY15 Sales Sales Sales Growth % Growth % Material Cost 695 44% 623 43% 714 46% 3% 15% Power & Fuel Cost 96 6% 99 7% 95 6% -1% -4% Employee Cost 284 18% 272 19% 275 18% -3% 1% Other Expenses 242 15% 2
Slide 14: EBITDA Analysis – Q4'FY15
EBITDA Analysis – Q4’FY15 EBITDA (Rs. Crs) Business Segments Q4'FY14 Q3'FY15 Q4'FY15 YoY Growth % QoQ Growth % Pharmaceuticals 132 140 200 51% 43% Life Science Ingredients 131 61 66 -50% 7% Less: Corp Expenses -13 -10 -13 Reported EBITDA 251 191 253 1% 32% Margins (%) YoY Variance (Bps) QoQ Variance
Slide 15: Exceptional Items – Q4'FY15
Exceptional Items – Q4’FY15 Total exceptional items for Q4’FY15 – Rs. (34) Crore • Unrealized Mark to Market book loss - Rs. 8 Crore mainly on account of • Currency movement of USD, from Rs. 63.03 as on December 31, 2014 to Rs. 62.50 as on March 31, 2015, with respect to Rupee Loan swapped into USD
Slide 16: Year End Results Analysis
Year End Results Analysis 15 15
Slide 17: Income Statement – FY15
Income Statement – FY15 Particulars FY14 FY15 YoY Growth (Rs Crs) (%) Total Income from Operations 5,803 5,826 0% Total Expenditure 4,796 5,137 Other Income 19 42 EBITDA including Other Income 1,027 732 -29% Depreciation 281 288 Finance Cost 261 303 Forex Differential and Interest Swap Cost 62 53 Pr
Slide 18: Financial Highlights – FY15
Financial Highlights – FY15 • Income from Operations at Rs. 5,826 Crore • Operations grew 11% YoY excluding CMO and Advanced Intermediates • Indian markets grew 13% YoY to Rs 1,669 Crore; International markets contribute 71% to the overall revenues • Growth driven by revenue increases in Radiopharma
Slide 19: Segmental Revenue Analysis – FY15
Segmental Revenue Analysis – FY 15 • Company reports revenue of Rs. Revenue (Rs. Crs.) Revenue YoY 5,826 Crore Segmental Revenue Analysis Mix (%) Growth % • Price increase of 6% FY14 FY15 Pharmaceuticals 2,728 2,682 46% -2% • Pharmaceuticals segment reports revenue of Rs 2,682 Crore Active Pharmaceu
Slide 20: Revenue Analysis – Geography wise – FY15
Revenue Analysis – Geography wise – FY15 Geo-wise Revenue (Rs crs) FY14 FY15 Mix % YoY % ROW, 7.4% India 1,477 1,669 29% 13% China, 6.2% International 4,326 4,157 71% -4% USA & Canada 2,231 2,191 38% -2% Europe & India, 28.7% Europe & Japan 1,224 1,175 20% -4% Japan, 20.2% China 507 360 6% -29% USA
Slide 21: Operating Expenditure Analysis – FY15
Operating Expenditure Analysis – FY15 Expenses (Rs Crs) FY14 % of Sales FY15 % of Sales YoY Growth % Material Cost 2442 42% 2662 46% 9% Power & Fuel Cost 390 7% 393 7% 1% Employee Cost 1105 19% 1090 19% -1% Other Expenses 859 15% 992 17% 15% Total Expenses 4796 83% 5137 88% 7% • Material Costs to Sa
Slide 22: EBITDA Analysis – FY15
EBITDA Analysis – FY15 EBITDA (Rs. Crs) Business Segments FY14 FY15 YoY Growth % Pharmaceuticals 610 445 -27% Life Science Ingredients 483 322 -33% Less: Corp Expenses -67 -35 Reported EBITDA 1,027 732 -29% EBITDA Margins (%) YoY Variance (Bps) Pharmaceuticals 22.4% 16.6% -579 Life Science Ingredien
Slide 23: Exceptional Items – FY15
Exceptional Items – FY15 Total exceptional items for FY15 at Rs (48) Crore • Unrealized Mark to Market book loss Rs (25) Crore on account of • Currency movement of USD, from Rs 59.91 as on March 31, 2014 to Rs 62.50 as on March 31, 2015, with respect to Rupee Loan swapped into USD Loan, which was en
Slide 24: Debt Profile
Debt Profile Particulars 31-Mar-14 31-Dec-14 31-Mar-15 Foreign Currency Loans ($ Mn) ($ Mn) ($ Mn) Standalone 265 95 105 Swapped loan in Standalone 189 156 0 Subsidiaries 199 361 338 Total 652 611 443 Rupee Loans (Rs. Crs) (Rs. Crs) (Rs. Crs) Standalone 480 334 1,513 Subsidiaries 0 523 509 Total 480
Slide 25: Outlook
Outlook In FY 2016, Pharmaceuticals segment to drive revenue growth with improvement in profitability across key businesses • Pharmaceuticals segment expected to drive growth on account of: • Strong performance of Radiopharmaceuticals • Normalization of CMO business operations • Entry into new marke
Slide 26: 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 Anupam Jain Karl Kolah Jubilant Life Sciences Limited CDR India Ph: +91-120-436 1021 P