Dishman Carbogen Amcis Ltd. · NSE:DCAL
Dishman Carbogen Amcis — Q3 FY2021 Earnings Presentation
33 slides from Dishman Carbogen Amcis's earnings presentation, Feb 11, 2021
Slide 1: Exchange filing cover letter
th 11 February, 2021 dish man To, To, Department of Corporate Services The Manager, BSE Ltd. Listing Department, Phiroze Jeejeebhoy Towers, National Stock Exchange of India Ltd. Dalal Street, "Exchange Plaza", C-1, Block G, Mumbai -400 001. Bandra-Kurla Complex, Sandra (E), Mumbai -400 051. , Ref.:
Slide 2: Quarter ended December 31st, 2020
Quarter ended December 31st, 2020 February 2021
Slide 3: Safe Harbor Statement
SAFE HARBOR STATEMENT This presentation and the following discussion may contain “forward looking statements” by Dishman Carbogen Amcis Limited (‘Dishman’ or the ‘Company’) that are not historical in nature. These forward- looking statements, which may include statements relating to future results o
Slide 4: Dishman in a Nutshell
Dishman in a Nutshell 4 decades 2,200+ Team Strength 25 28 Committed Members Embracing of Long-Standing Track Record in our Culture of Innovation & Sustainability CRAMS Dedicated Team/Scientist Working Multi-Purpose MANUFACTURING RESEARCH & DEVELOPMENT APIS in R&D - 950+ FACILITIES Globally and HIPO
Slide 5: Past Performance at a Glance
Past Performance at a Glance Revenue from Operations (₹ mn) EBITDA and EBITDA % Cash Profit (₹ mn) EBITDA EBITDA % 4,499 20,586 20,436 4,087 5,519 3,660 16,017 17,137 16,948 4,976 4,534 4,453 26.8% 2,945 2,994 4,103 26.3% 25.6% 26.5% 24.3% FY16 FY17 FY18 FY19 FY20 FY16 FY17 FY18 FY19 FY20 FY16 FY17
Slide 6: Agenda
AGENDA 01 Quarter Highlights 02 Company Overview 03 Industry Overview 5
Slide 7: Quarter Highlights
ishman Carbogen Amcis QUARTER
Slide 8: Impact due to EDQM Observations and COVID-19
Impact due to EDQM Observations and COVID-19 Cautionary Statement The business was impacted due to European Directorate for the Quality of Medicines & HealthCare (EDQM) issues at the Bavla site for the company’s product Dihydrotachysterol and due to Covid impact on the overall economy. As such, the
Slide 9: Q3 FY21 Result Highlights
Q3 FY21 RESULT HIGHLIGHTS NET REVENUE (₹ mn) EBITDA (₹ mn) & EBITDA MARGIN* 5,194 4,632 1,222 846 22.5% 18.0% Q3FY20 Q3FY21 Q3FY20 Q3FY21 ADJUSTED PBT# (₹ mn) & PBT MARGIN CASH PAT@ (₹ mn) & CASH EPS (₹ ) 6.4 715 1,036 4.6 727 13.2% 210 4.5% Q3FY20 Q3FY21 Q3FY20 Q3FY21 *EBITDA excluding other income
Slide 10: 9M FY21 Result Highlights
9M FY21 RESULT HIGHLIGHTS Net REVENUE (₹ mn) EBITDA (₹ mn) & EBITDA MARGIN* 14,704 13,788 3,777 2,387 24.7% 17.3% 9MFY20 9MFY21 9MFY20 9MFY21 ADJUSTED PBT# (₹ mn) & PBT MARGIN CASH PAT@ (₹ mn) & CASH EPS 14.2% 19.0 3,065 13.8 2,180 2,159 4.9% 680 9MFY20 9MFY21 9MFY20 9MFY21 *EBITDA excluding other i
Slide 11: Consolidated P&L Statement
CONSOLIDATED P&L STATEMENT Particulars (₹ mn) Q3 FY21 Q3 FY20 YoY % 9M FY21 9M FY20 YoY % Revenue from Operations 4632.4 5,193.60 -10.8% 13,787.90 14,704.40 -6.2% Other Operating Income 53.2 229.2 -76.8% 36.7 610.5 -94.0% Total Revenue 4,685.6 5,422.8 -13.6% 13,824.6 15,314.9 -9.7% COGS 851.3 1296.2
Slide 12: Segment Wise Revenue Analysis
SEGMENT WISE REVENUE ANALYSIS Revenues – Segment wise Breakup (₹ mn) Q3 FY21 Q3 FY20 YoY % 9M FY21 9M FY20 YoY % CRAMS (% of total) 74.1% 77.5% 75.8% 76.5% CRAMS- India 200.4 513.8 -61.0% 407.4 2,406.9 -83.1% CRAMS – Switzerland, France & China 2,991.6 3,313.5 -9.7% 9,278.8 8,032.1 15.5% CRAMS - UK
Slide 13: Segment Wise Revenue Break-up
SEGMENT WISE REVENUE BREAK-UP Total Operating Revenue – Q3 FY21 Total Operating Revenue – 9M FY21 CRAMS – 74.1% Marketable Molecules – 25.9% CRAMS – 75.8% Marketable Molecules – 24.2% 5.8% 3.9% 7.0% 7.4% 46.3% 43.2% 53.7% 56.8% 87.1% 88.7% CRAMS - India CRAMS - India CRAMS - Switzerland & France Car
Slide 14: Segment-wise Margin Analysis
SEGMENT-WISE MARGIN ANALYSIS EBITDA Margin* % Q3 FY21 Q3 FY20 9M FY21 9M FY20 CRAMS 9.0% 25.2% 9.5% 27.7% CRAMS- India - 53.8% 56.3% CRAMS – Switzerland, France & China 19.2% 21.5% 19.1% 20.3% CRAMS - UK 21.4% 13.9% 18.9% 16.8% Marketable Molecules 27.2% 20.0% 26.3% 22.8% Carbogen Amcis BV 34.9% 31.
Slide 15: Forex Impact
FOREX IMPACT Particulars (₹ mn) Q3 FY21 Q2 FY21 Q3 FY20 9M FY21 9M FY20 FY20 EBIDITA before considering Forex Gain / (Loss) 845.7 961.3 1,222.3 2,387.2 3,776.5 4,668.5 Forex Gain / (Loss) in Operating Income -5.4 -45.6 130.1 -132.7 351.1 424.0 in Admin Expenses -214.2 -115.2 -98.8 -397.0 -222.1 -116
Slide 16: Q3 & 9M FY21 Result Highlights
Q3 & 9M FY21 RESULT HIGHLIGHTS Net Revenue at Rs 4,632.4 mn in Q3 FY21 down by 10.8% YoY CRAMS revenue decreased 14.7% YoY primarily due to : CRAMS India revenue decreased by 61.0% due to EDQM observations but on account of certain successful customer audits and production of certain complex interme
Slide 17: Business Update – India
BUSINESS UPDATE – INDIA Ongoing manufacturing of complex starting material for Swiss based client in Bavla due for delivery in Q4 FY21. Ongoing campaign of 4 steps of a critical intermediate of the largest API across the group underway and expected to be delivered in Q4 FY21. Audit successfully comp
Slide 18: Business Update – CRAMS New Molecules
BUSINESS UPDATE – CRAMS NEW MOLECULES Successfully completed validation at our site of the drug linker in December for an Oncology ADC, which is for multiple indications. The client performs the conjugation to the antibody at their own facilities. Next campaign is already planned, which would be the
Slide 19: Business Update – CRAMS New Molecules
BUSINESS UPDATE – CRAMS NEW MOLECULES A commercial product made for a large USA pharma client has been increased in batch size during Q3 FY21. This product is a broad range antibiotic, and the Company believes the increase in volumes is related to its use in pneumonia patients possibly linked to COV
Slide 20: Business Update – Vitamin D/Disinfectants
BUSINESS UPDATE – VITAMIN D/DISINFECTANTS VITAMIN D The development team is working on 3 new projects in the synthetic cholesterol and Vitamin D2 areas which is being prioritized across both India and Holland R&D teams. The Company is in late stage of patent filing as informed earlier. Received conf
Slide 21: Company Overview
ishman Carbogen Amcis COMPANY
Slide 22: About Us
ABOUT US Established in 1983, Dishman Carbogen Amcis Limited is a fully integrated CRAMS (Contract Research & Manufacturing) company with strong capabilities right from process research & development to late stage clinical and commercial manufacturing and supply of API to innovator pharmaceutical co
Slide 23: Key Strengths
KEY STRENGTHS Preferred global outsourcing Upfront investment of more partner with capabilities across the than ₹10,000 mn in large entire CRAMS value chain scale multi-purpose manufacturing capacities Strong chemistry skills The HIPO facility at Bavla, India is the largest HIPO facility in Asia. Di
Slide 24: Manufacturing Facilities
ROBUST R&D CAPABILITIES Facilities are approved by recognised health agencies: USFDA, MEB, SWISS MEDIC, ANSM, WHO, MFDS, PMDA Superior Chemistry Skills & Capabilities CARBOGEN AMCIS BV., CARBOGEN AMCIS Veenendaal, The Netherlands (Shanghai) Co. Ltd. 28 dedicated R&D labs with multiple shift R&D Chin
Slide 25: Preferred Global Outsourcing Partner
PREFERRED GLOBAL OUTSOURCING PARTNER CLOSE PROXIMITY LARGE SCALE INTEGRATED ACROSS THE STRONG CHEMISTRY TO CLIENTS WITH MANUFACTURING VALUE CHAIN CAPABILITIES GLOBAL PRESENCE CAPACITIES Integrated CRAMS Player present along the entire value chain from building blocks to commercialization and product
Slide 26: Integrated CRAMS Player
INTEGRATED CRAMS PLAYER CARBOGEN AMCIS (CA) STRONG RESEARCH CAPABILITIES Focus is on supporting the development process from bench to market Process research and development to the supply of APIs for preclinical studies, clinical trials and commercial use DISHMAN INDIA STRONG MANUFACTURING CAPAB
Slide 27: Cutting Edge HIPO Capabilities
CUTTING EDGE HIPO CAPABILITIES The HIPO facility at Bavla, India, is one of the kind facility in the world and the largest facility in Asia. The facility has a sound mix of Kilo lab and full- scale manufacturing units to cater to both small volume and large volume orders. State of the art containmen
Slide 28: Therapeutic Area Split
THERAPEUTIC AREA SPLIT DEVELOPMENT COMMERCIAL 22% 21% 28% 32% New Dev Commercials 4% 11% Projects FY20 FY20 4% 18% 17% 11% 14% 6% 6% 4% 4% Cancer ADC-Warhead/ADC Eyes Antibiotic Blood/Immunology Hormone/Metabolism Pain/Nerves Diabetes Various APIs Non-APIs/Intermediates 27
Slide 29: Industry Overview
ishman Carbogen Amcis INDUSTRY
Slide 30: Top 10 Therapy Areas (US$ bn) - 2019
2019 Global Sales by Therapy Areas Specialty areas dominate sales and growth driven by developed markets 0 20 40 60 80 100 120 140 160 Oncologics 44% 22% 8% 11% 15% $146 bn $97 bn Top 10 Therapy Areas (US$ bn) - 2019 11% Antidiabetics 66% 8% 5% 10% 11% $87 bn 2% Autoimmune Diseases 69% 14% 4% $47 bn
Slide 31: Specialty: Market Share & Growth
SPECIALTY: MARKET SHARE & GROWTH Developed countries account for >80% of specialty market Specialty: Region Market Share 2019 Region Contribution to Global Growth 81% of all specialty sales from 7 countries 2014-19 2014-19 Absolute growth contribution in LCUS$ Market Specialty 12% 13% 13% US 6% 5% 2
Slide 32: Pharmerging Markets - Oncology Leads Growth
PHARMERGING MARKETS - ONCOLOGY LEADS GROWTH Pharmerging Top 10 therapy areas, value and volume growth 32% 17% Value PPG (%) 14%13% 13%12% 11% 10% 10% 9% 9% 8% 8% 8% 9% 7% 7% 5% 5% 2% 3% 4% 12% 11% 10% 9% 8% Volume PPG (%) 5% 6% 6% 3% 3% 3% 4% 4% 4% 4% 4% 4% 0% 0% 1% -2% -1% Pharmerging Antibacterial
Slide 33: Thank you!
Dishman Dishman Carbogen Amcis Limited CARBOGEN AMCIS AG Dishman Corporate House Hauptstrasse 171 Ambli Bopal Road CH-4416 Bubendorf Ahmedabad 380 058 Switzerland www.dishmangroup.com www.carbogen-amcis.com Thank you! FOR FURTHER QUERIES Mr. Binay Sarda Mr. Harshil Dalal Christensen IR Group CFO P:
Dishman Carbogen Amcis — Q3 FY2021 Earnings Presentation on 6ix