Aurobindo Pharma Ltd · NSE:AUROPHARMA
Aurobindo Pharma — Investor Presentation (February 2018)
27 slides from Aurobindo Pharma's investor presentation, February 2018
Slide 1: Leading Vertically Integrated Generic Player
LEADING VERTICALLY INTEGRATED GENERIC PLAYER February 2018
Slide 2: Disclaimer
Disclaimer This presentation contains statements that constitute “forward looking statements” including and without limitation, statements relating to the implementation of strategic initiatives, and other statements relating to our future business developments and economic performance. While these
Slide 3: Company Overview
Company Overview Among the Top-3 listed pharmaceutical companies from India by sales(1) Overview- by the number 5th largest generic company by volume in the US; IMS TRx represents greater than 16% growth year over year(2) Broad portfolio of diversified dosage forms including Rx and OTC oral IN
Slide 4: The Journey So Far…
The Journey So Far… 2014 Acquired Western European commercial operations from Actavis Acquired Natrol (Consumer Healthcare) 2006-08 2015-16 Acquired UK based Milpharm Established OTC presence Acquired formulations facility, Entered into Biosimilars and AuroLife, in US Vaccines 2009-12
Slide 5: Strong Operational Growth & Diversified Revenue Base
Strong Operational Growth & Diversified Revenue Base INR Cr FY13 CAGR FY17# Revenue from 5,855 27% 15,090 operations EBITDA 889 40% 3,434 EBITDA 15.2% 22.8% Margin (%) PAT** 294 67% 2,302 PAT Margin 5.0% 15.3% (%) ANDA Filed 269 429 Formulations Formulations Revenue : 57% : 79.8% Breakup API: 43% AP
Slide 6: Our Business Segments
Our Business Segments EU US Among top 15** Gx companies by Ranked 4th* Rx supplier as per sales IMS total prescriptions dispensed Focus markets are France, Germany, Differentiated pipeline with new Netherlands, Spain, UK, Portugal and launches including injectables, Italy ophthalmics, specia
Slide 7: US Business Overview
US Business Overview AuroLife Pharma Aurobindo USA AuroMedics AuroHealth Natrol Manufacturing / Oral Rx Injectables Pharma OTC Dietary Supplements R&D Cumulative ANDA Filings and Approvals Revenue (INR Cr) 40% CAGR in FY13-FY17 Unit wise ANDA Filings as on 31-Dec-2017 Final Tentative Under Site Deta
Slide 8: US Business – Segment Wise Highlights
US Business – Segment Wise Highlights Orals – Aurobindo Pharma USA Injectables - AuroMedics • 73% of overall US business in FY17 • 15% of overall US business in FY17 • 16% y-o-y growth in TRx* • 4th largest Gx injectable company by volume* (1) • 242 approved ANDAs, 35 TAs, and 72 under • 55 approved
Slide 9: US: Expanding Portfolio Mix Towards Differentiated Products
US: Expanding Portfolio Mix Towards Differentiated Products Portfolio mix is complemented with the introduction of high-value products Addressable Market at US$ 87.2 Bn including ~US$ 61.2 Bn for Under Review and Tentatively approved ANDAs Future pipeline to include Oncology, Hormones, Depot injecti
Slide 10: EU Business Overview
EU Business Overview France Germany Netherlands Spain UK Portugal Italy Romania Belgium India’s Leading Gx company with strong footprint in Europe Revenue Operations in 9 countries with full fledged Pharmacy, Hospital and Tender 63% CAGR in FY13-FY17 sales infrastructure with commercialized 450+
Slide 11: EU: Portfolio Mix Across Channels
EU: Portfolio Mix Across Channels Sales split by Channel Sales split by Therapeutic Profile Sales split by Dosage Forms Channels Gx BGx Hx TGx Germany, Spain Geographies All 9 countries 7 countries All 9 countries & Netherlands 769 (primarily 347 (predominantly 767 (including Gx # of Products 37 tab
Slide 12: ARV Business Overview
ARV Business Overview Revenue (INR Cr) Focus on global tenders floated by Multi-Lateral Organizations like Global Fund, USAID/PEPFAR and Country specific MOH tenders 12% CAGR in FY13-FY17 Supplies life-saving ARV’s to ~3 Mn HIV patients spread over more than 125 countries Comprehensive portfol
Slide 13: Growth Markets Business Overview
Growth Markets Business Overview Canada Ukraine GCC Countries Myanmar Mexico East Africa Colombia Brazil South Africa Growth markets Revenue (INR Cr) Growth Drivers 16% CAGR in FY13-FY17 Build branded generics presence Enhance penetration in selected markets through local manufacturing Product
Slide 14: The Base Business : API
The Base Business : API Revenue (INR Cr) API capacity is strategic in-terms of vertical integration and supply to regulated markets 5% CAGR in FY13-FY17 Additional investments are made for capacity creation and capability building API business continue to focus on complex products with varying
Slide 15: Enhanced Research & Development Capabilities
Enhanced Research & Development Capabilities 5 R&D centers in Hyderabad, India >1500 scientists and analysts Focused on difficult to develop APIs, peptides, etc. Develop modern process technologies like enzyme chemistry Dosage Form R&D for developing niche oral, sterile and specialty injectabl
Slide 16: Consolidated Financial Performance
Consolidated Financial Performance Q3 Q3 % 9M 9M % Value INR Cr FY18 FY17 Chg FY18 FY17 Chg Formulations 3,570.2 3,130.2 14.1 10,284.6 9,166.0 12.2 API 765.7 775.9 -1.3 2,162.6 2,279.2 -5.1 Formulations % of sales 82.3% 80.1% 82.6% 80.1% Revenue from Operations 4,336.1 3,906.2 11.0 12,450.7 11,448.2
Slide 17: Financial Performance
Financial Performance Revenue from operations (INR Cr) EBITDA & PAT Margin (%) EPS (INR/Share) Gross Block & Fixed Asset Turnover Average ROE & ROCE % Net Debt/Eq & Net Debt/EBITDA Gross Block (INR Cr) 3.6 Gross Fixed Asset Turnover Net Debt/Equity Net Debt/EBITDA 7,500 3.2 4 6,250 3.1 2.9 5,000 2.7
Slide 18: Debt Profile
Debt Profile Fx Loan US$ Mn Debt as on (INR Cr) Mar-16 Mar-17 Sep-17 Dec-17 Closing Rate1 US$ = 66.255 64.85 65.285 63.875 INR Fx Loan restated in 4,956.7 3,121.5 4,930.6 4,608.8 690 748 481 755 722 INR Rupee Loan 46.9 244.8 70.1 92.9 Sales Tax Deferment 41.9 0.0 0.0 0.0 Gross Debt 5,045.6 3,366.3 5
Slide 19: Shifting Paradigms ...
Shifting Paradigms ... Past Present Future Full spectrum of APIs, including peptides and special-polymers Specialty Products: Complex dosage forms and delivery platforms Difficult-to-make and non- Biologics, Vaccines small molecule APIs, Branded Rx and OTC products Complex Oral, and simple Core stre
Slide 20: Way Forward
Way Forward Market share gain for existing products and introduction of new products including limited Orals competition products (currently 107* ANDAs under review/tentatively approved) 35* ANDA filings under review/tentatively approved for injectables along with a pipeline of Injectable Oncology,
Slide 21: Annexure
Annexure 20
Slide 22: Revenue Break-Up
Revenue Break-Up FY16 FY17 FY18 INR Bn Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 USA 14.1 14.7 15.6 16.3 60.8 17.0 17.4 17.5 16.4 68.3 16.9 21.0 19.1 Europe 7.4 7.6 7.8 8.4 31.3 8.3 8.1 8.6 7.8 32.8 9.2 11.1 11.7 Growth Markets 1.6 1.6 1.6 1.6 6.5 1.9 1.8 1.9 2.0 7.6 1.9 2.4 2.5 ARV 3.0 2.8 3.1 3.3 12.
Slide 23: 5 Year Financial Snapshot
5 Year Financial Snapshot Value INR Bn FY13 FY14 FY15 FY16* FY17* Net Operating Income 58.6 81.0 121.2 139.6 150.9 Gross margin % of operating income 48.9% 55.5% 54.6% 55.8% 57.4% EBITDA (before Fx and other income) % to 15.2% 26.4% 21.2% 22.8% 22.8% Operating income Depreciation / Amortization 2.5
Slide 24: Filing details as on 31st Dec 2017
Filing details as on 31st Dec 2017 As at As at As at As at As at As at Category Approvals Mar 13 Mar 14 Mar 15 Mar 16 Mar 17 Dec 17 Formulations 351 (FA: 313, US* 269 336 376 398 429 465 TA:38) 1,951 Europe** 1,341 1,542 1,756 2,224 2,521 2,784 Dossiers (208 products) 191 SA** 314 334 345 376 401 40
Slide 25: Extensive Manufacturing Base with High Quality Control and Compliance
Extensive Manufacturing Base with High Quality Control and Compliance Finished Dose Formulations Active Pharma Ingredients Site Product Capabilities Site Product Capabilities Unit III Non antibiotics, ARVs / Orals Unit I CVS, CNS, Anti-Allergics, Non-Sterile Unit IV Injectables (Non-antibiotics)&Oph
Slide 26: Shareholding Pattern
Shareholding Pattern As on As on As on Group 31 Mar 16 31 Mar 17 31 Dec 17 Non-Promoter Holding 48.1% Promoter Group 53.9% 51.9% 51.9% FII 27.4% 21.0% 18.9% MF / Insurance 7.2% 12.4% 15.3% Other Bodies Corporates 2.4% 3.6% 3.1% Retail Investors 9.1% 11.1% 10.8% Total 100% 100% 100% Equity Shares (in
Slide 27: Thank You
Thank You For updates and specific queries, please visit our website www. aurobindo.com Investor Relations: Krishna Kiran Phone: +91-40-66725000/5401 +91 98486 67906 Email: ir@aurobindo.com Corporate Office: Water Mark Building, Level-6, Plot No.11, Survey No. 9, Kondapur, Hitech City, Hyderabad - 5
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