Slide 1: Financial Results Analysis
Financial Results Analysis Quarter & Year Ended March 31, 2012
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: Year Ended Results Analysis
Year Ended Results Analysis 22
Slide 4: Income Statement – FY12
Income Statement – FY12 Particulars FY 11 FY 12 YoY Growth (Rs Crs) (%) Total Income from Operations 3,446 4,278 24% Total Expenditure 2,888 3,430 19% Other Income 10 45 EBITDA including Other Income 568 893 57% Depreciation 180 221 Finance Costs 106 209 Profit after Interest but before Exceptional
Slide 5: Financial Highlights – FY12
Financial Highlights – FY12 • Income from Operations of Rs. 4,278crore for FY12, grew 24% YoY • Highest ever income from operations • EBITDA at Rs. 893crore in FY12, up 57% YoY • Record highest ever operating profits • Margins at 20.9%, grow by 439 bps • Other Income includes one time Operating Inco
Slide 6: JLL Business Reclassification
JLL Business Reclassification Business evolution enables the need for reclassification of verticals into Pharmaceuticals and Life Science Ingredients in order to • Reflect nature of business lines • Understand the operating matrix Previous Classification Current Classification A. Life Science Produc
Slide 7: Revenue Analysis – Business wise – FY12
Revenue Analysis – Business wise –FY12 FY10 FY 11 FY 12 Revenue Mix (%) YoY Growth % Business wise Revenue Rs. Crore Pharmaceuticals 1,585 1,546 2,175 51% 41% APIs 283 338 448 10% 33% Generics 152 206 537 13% 161% Specialty Pharma 231 249 311 7% 25% CMO 662 530 621 15% 17% DDDS 249 211 244 6% 16% He
Slide 8: Highlights – Pharmaceuticals – FY12
Highlights – Pharmaceuticals – FY 12 Pharmaceutical Business reports Income of Rs. 2,175crs in FY12, 51% of Revenue Mix • Witnessed growth of 41% YoY across all business segments • Continue to be the preferred outsourcing partner for global pharmaceuticals companies in niche areas of injectibles and
Slide 9: Highlights – Pharmaceuticals - FY12
Highlights – Pharmaceuticals - FY12 Specialty Pharma income from operations at Rs. 311 crore • 25% growth from Radiopharmaceuticals and Allergy products • Growth in Radiopharma driven by entry into new geographies • Continue leadership position in I-131, DTPA, MAA and MDP – Therapeutic and Diagnosti
Slide 10: Highlights – Life Science Ingredients – FY12
Highlights – Life Science Ingredients – FY 12 Life Science ingredients income at Rs. 2,103crore, 49% of the Revenue Mix • Records 11% growth, mainly driven by volume uptick from enhanced capacities • Long standing established global leadership positions in the industry • Innovation led product and p
Slide 11: Highlights – Life Science Ingredients – FY12
Highlights – Life Science Ingredients – FY 12 Nutrition Ingredients Income at Rs. 211crore • Records 10% growth with higher volumes, stable market trends witnessed after a softer previous period • Commissioned new 10,000 TPA capacity Niacinamide plant to cater to growing global demand led by 7-8% an
Slide 12: Revenue Analysis – Geography wise – FY12
Revenue Analysis – Geography wise- FY12 Emerg. Mkts (Rs crs) FY 11 FY 12 Mix % YoY % China 5% India 1,070 1,267 30% 18% 7% India International 2,376 3,011 70% 27% 30% Europe & USA & Canada 1,273 1,681 39% 32% Japan Europe & Japan 539 804 19% 49% 19% China 321 289 7% -10% Emerging Markets 243 237 5%
Slide 13: Operating Expenditure Analysis – FY12
Operating Expenditure Analysis –FY12 Expenses YoY FY11 % of Sales FY12 % of Sales (Rs Crs) Growth % Material Cost 1,340 39% 1,627 38% 21% Power & Fuel Cost 224 7% 269 6% 20% Employee Cost 719 21% 836 20% 16% Other Expenses 606 18% 697 16% 15% Total expenses 2888 84% 3430 81% 19% • Across the board r
Slide 14: EBITDA Analysis – FY12
EBITDA Analysis – FY12 EBITDA (Rs. Crs) Margins (%) YoY Growth Variance Business Verticals FY 11 FY 12 FY 11 FY12 % Bps Pharmaceuticals 167 580 246% 10.8% 26.7% 1583 Life Science Ingredients 468 354 -24% 24.6% 16.8% -783 Reported EBITDA 568 893 57% 16.5% 20.9% 439 Reported EBITDA is net of Corporate
Slide 15: Quarterly Results Analysis
Quarterly Results Analysis 14 14
Slide 16: Income Statement – Q4'FY12
Income Statement – Q4’FY12 Particulars Q4'FY11 Q4'FY12 YoY Growth (Rs Crs) (%) Total Income from Operations 900 1,176 31% Total Expenditure 768 965 26% Other Income 5 38 EBITDA including Other Income 137 248 82% Depreciation 33 66 Finance Cost 32 59 Profit after Interest but before Exceptional Items
Slide 17: Financial Highlights – Q4'FY12
Financial Highlights – Q4’FY12 • Income from Operations at Rs. 1,176crs, grow 31% YoY • Record highest ever Income from operations • Share of Pharmaceutical business moves up from 46% to 52% • Higher volumes from newly added capacities in Life Science Ingredients helps growth • EBITDA at Rs. 248 crs
Slide 18: Revenue Analysis – Business wise – Q4'FY12
Revenue Analysis – Business wise – Q4’FY 12 Q4'FY11 Q4'FY12 Revenue YoY Business Verticals (Rs crs) Mix (%) Growth % Pharmaceuticals 415 616 52% 48% Life Science Ingredients 485 559 48% 15% Income from Operations 900 1,176 100% 31% Inter Divisional Sales (IDTs) 60 133 122% IDT as a % of Income 7% 11
Slide 19: Highlights – Pharmaceuticals - Q4'FY12
Highlights – Pharmaceuticals - Q4’FY12 Pharmaceuticals Business Income of Rs. 616 crs, 52% of Revenue Mix • 48% growth primarily driven by sustained growth momentum in Generics APIs • Filed 4 USDMF in Anti allergy, Iron Chelating, Endocrine and Anti-depressant TA • Witnesses volume increase in Sarta
Slide 20: Highlights – Pharmaceutical - Q4'FY12
Highlights – Pharmaceutical- Q4’FY12 CMO Services of Sterile Injectables and Non-sterile products • Higher utilizations for servicing new contracts improve revenue growth • Won long term contracts valued at over $90Mn from four innovator companies Drug Discovery and Development Solutions • Increment
Slide 21: Highlights – Life Science Ingredients - Q4'FY12
Highlights – Life Science Ingredients - Q4’FY12 Life Science Ingredients Income at Rs. 559 crs, 48% of Revenue Mix • 15% YoY growth driven by higher volumes from newly added capacities PPES • Achieve higher volume growth on back of increased utilization from new capacities to meet enhanced internal
Slide 22: Revenue Analysis – Geography wise – Q4'FY12
Revenue Analysis – Geography wise- Q4’FY12 Emerg. China Mkts (Rs crs) Q4' FY11 Q4' FY12 Mix % YoY % 7% 6% India 28% 28% India 297 324 9% Europe & International 603 851 72% 41% Japan 19% USA & Canada 337 477 41% 42% Europe & Japan 132 221 19% 67% USA & Canada China 68 81 7% 20% 41% Emerging Markets 6
Slide 23: Operating Expenditure Analysis – Q4'FY12
Operating Expenditure Analysis – Q4’FY12 Expenses YoY Q4’FY11 % of Sales Q4’FY12 % of Sales (Rs Crs) Growth % Material Cost 348 39% 475 41% 36% Power & Fuel Cost 64 7% 73 6% 14% Employee Cost 183 21% 212 18% 16% Other Expenses 173 19% 205 17% 18% Total expenses 768 86% 965 82% 26% • Share of Materia
Slide 24: EBITDA Analysis Q4'FY12
EBITDA Analysis Q4’FY12 EBITDA (Rs. Crs) Margins (%) YoY Growth Business Verticals Q4’FY11 Q4’FY12 Q4’FY11 Q4’FY12 Bps % Pharmaceuticals 50 187 274% 12.1% 30.4% 1833 Life Science Ingredients 107 53 -51% 22.0% 9.4% -1266 Reported EBITDA 137 248 81% 15.2% 21.1% 586 Reported EBITDA is net of Corporate
Slide 25: Exceptional Items
Exceptional Items Total exceptional items for FY12 at Rs 349crs • Loss on account of impairment of assets / Diminution in value of investments Rs 167crs: • The Company has tested the carrying value of goodwill in its US Clinical Research business and accordingly provided for an impairment loss with
Slide 26: Debt Profile
Debt Profile Particulars March 31, 2011 March 31, 2012 Foreign Currency Loans ($ Mn) ($ Mn) Standalone 190 268 Subsidiaries 195 175 FCCB 142 0 Total 527 443 Rupee Loans (Rs. Crs) (Rs. Crs) Standalone 438 650 Subsidiaries 26 - Rupee Loan Swapped 1,070 910 Total 1,534 1,560 Gross Debt 3,884 3,815 Cash
Slide 27: Outlook
Outlook Company on a strong trajectory to achieve • A three year CAGR of over 20% in revenue terms and improved EBITDA margins • Strong operational results to lead to robust balance sheet with • Debt to EBITDA multiples below 2.5 times • Debt to equity below 1 Expect to achieve 20-22% revenue growth
Slide 28: Conference Call Details
Conference Call Details Date : Monday, 07th May, 2012 Time : 5:00 pm IST India Primary Number: +91 22 6629 0301 Secondary Number: +91 22 3065 0122 Local Access Number 6000 1221/ 3940 3977 International USA 1 866 746 2133 UK 0 808 101 1573 Singapore 800 101 2045 Hong Kong 800 964 448 Replay from : Ma
Slide 29: For more information
For more information Visit us at www.jubl.com Contact us at nidhi_aggarwal@jubl.com Ph: +91-120 4361002 siddharth@cdr-india.com Ph: +91-22 6645 1209 28 28
Slide 30: Thank You!
JUBHANT LIFESCIENCES Thank You!