Hikal Limited · NSE:HIKAL
Hikal — Q3 FY23 Earnings Presentation
26 slides from Hikal's earnings presentation
Slide 1: Results Presentation – Q3 FY23
Results Presentation – Q3 FY23
Slide 2: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Hikal Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and
Slide 3: Executive Chairman’s Message
Executive Chairman’s Message “Hikal has recorded an improved performance in this quarter in line with earlier guidance of a sequential recovery. We had an improvement in EBITDA margins on the back of several cost improvement initiatives. We are witnessing softening of key raw material prices and we
Slide 4: Quarterly Financials Highlights
Quarterly Financials Highlights
Slide 5: Revenue – Q3 FY23 Rs. 540 Crore
Robust performance in both Pharmaceutical and Crop Protection businesses, with recovery in EBITDA margins Revenue – Q3 FY23 EBITDA – Q3 FY23 EBITDA Margin – Q3 FY23 Rs. 540 Crore Rs. 75 Crore 13.8% YoY QoQ YoY QoQ YoY QoQ +5% -3% -20% +7% -425 bps +133 bps PAT – Q3 FY23 EPS – Q3 FY23 Rs. 26 Crore Rs
Slide 6: Quarterly Performance Highlights
Quarterly Performance Highlights Revenue 559 Performance Highlights 515 540 • Revenue recorded an increase of 5% YoY and stood at Rs 540 Crore • Higher volume sales Q3FY22 Q2FY23 Q3FY23 • EBITDA stood at Rs 75 Crore • Sequential recovery in margins on back of cost improvement EBITDA initiatives and
Slide 7: Quarterly Performance Highlights – Pharmaceuticals
Quarterly Performance Highlights – Pharmaceuticals Revenue Pharmaceuticals - Performance Highlights 290 292 268 • Revenue recorded an increase of 9% YoY • Higher CDMO volume intake from leading global innovator companies • EBIT stood at Rs 26 Crore • Sequential recovery in margins on back of cost im
Slide 8: Quarterly Performance Highlights – Crop Protection
Quarterly Performance Highlights – Crop Protection Revenue Crop Protection - Performance Highlights 269 246 248 • Revenue recorded flat growth of 1% YoY • EBIT stood at Rs 27 Crore • Sequentially the sales have been lower and the raw material prices remained on a higher side • Plan to commission the
Slide 9: Quarterly Financial Highlights
Quarterly Financial Highlights Consolidated Revenue Consolidated EBITDA Consolidated PAT 559 94 45 540 515 502 75 70 379 26 61 25 21 23 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 -9 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Rs. Crore © Hikal Limited
Slide 10: Quarterly Segmental Highlights
Quarterly Segmental Highlights Pharmaceuticals Revenue Crop Protection Revenue 308 290 292 268 269 246 248 224 194 154 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Pharmaceuticals EBIT Crop Protection EBIT 36 38 35 30 26 27 11 12 10 -8 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Q3FY
Slide 11: Consolidated Profit & Loss – Q3
Consolidated Profit & Loss – Q3 Particulars (Rs. in Cr) Q3 FY23 Q3 FY22 Y-o-Y Q2 FY23 Q-o-Q Net Sales 540 515 5.0% 559 -3.3% Expenditure 465 422 489 EBITDA 75 93 -19.7% 70 7.0% Margin 13.8% 18.1% 12.5% Other Income 2 1 1 Depreciation 28 25 27 Finance Costs 13 7 11 PBT 36 62 -41.9% 33 9.2% Tax 10 17
Slide 12: Nine-Monthly Financials Highlights
Nine-Monthly Financials Highlights
Slide 13: Financial Highlights – Nine Months
Financial Highlights – Nine Months Revenue – 9M FY23 EBITDA – 9M FY23 EBITDA Margin – 9M FY23 Rs. 1,478 Crore Rs. 167 Crore 11.3% YoY YoY YoY 3% -40% -811 bps PAT – 9M FY23 EPS – 9M FY23 Rs. 42 Crore Rs 3.43 YoY YoY -70% -70% © Hikal Limited
Slide 14: Nine Months Performance Highlights
Nine Months Performance Highlights Revenue EBITDA PAT 1,440 1478 279 140 167 42 9MFY22 9MFY23 9MFY22 9MFY23 9MFY22 9MFY23 Pharmaceuticals Division Crop Protection Division 822 806 620 671 Revenue Revenue 9MFY22 9MFY23 9MFY22 9MFY23 121 104 73 EBIT EBIT 29 Rs. Crore 9MFY22 9MFY23 9MFY22 9MFY23 © Hika
Slide 15: Sales Break-Up
Sales Break-Up Pharmaceuticals Revenue Break-Up Crop Protection Revenue Break-Up CDMO Own products 41.2% 44.5% 40.4% 69.0% 69.7% 76.7% 58.8% 55.5% 59.6% 31.0% 30.3% 23.3% FY21 FY22 9MFY23 FY21 FY22 9MFY23 © Hikal Limited
Slide 16: Annual Financials Highlights
Annual Financials Highlights
Slide 17: Financial Highlights - Annual
Financial Highlights - Annual Revenue – FY22 EBITDA – FY22 EBITDA Margin – FY22 Rs. 1,943 Crore Rs. 341 Crore 17.5% FY18-22 FY18-22 YoY YoY YoY CAGR CAGR 13% 5% -124bps 11% 9% PAT – FY22 EPS – FY22 Rs. 161 Crore Rs 13.02 FY18-22 FY18-22 YoY YoY CAGR CAGR 21% 21% 20% 20% © Hikal Limited
Slide 18: Annual Performance Highlights
Annual Performance Highlights Revenue EBITDA PAT +13% +5% +21% 1,943 323 341 161 1,720 133 FY21 FY22 FY21 FY22 FY21 FY22 Pharmaceuticals Division Crop Protection Division +7% +23% 1,060 1,130 813 661 Revenue Revenue FY21 FY22 FY21 FY22 +11% -11% 170 115 151 103 EBIT EBIT Rs. Crore FY21 FY22 FY21 FY2
Slide 19: Yearly Financial Highlights
Yearly Financial Highlights Consolidated Revenue Consolidated EBITDA Consolidated PAT +9% +11% 1,943 341 161 323 1,720 298 +20% 1,590 133 1,507 273 242 1,300 103 84 77 FY18 FY19 FY20 FY21 FY22 FY18 FY19 FY20 FY21 FY22 FY18 FY19 FY20 FY21 FY22 Rs. Crore © Hikal Limited
Slide 20: Sales Break-Up
Sales Break-Up Pharmaceuticals Revenue Break-Up Crop Protection Revenue Break-Up CDMO Own products 41.2% 44.5% 54.0% 69.0% 76.7% 75.7% 58.8% 55.5% 46.0% 31.0% 23.3% 24.3% FY20 FY21 FY22 FY20 FY21 FY22 © Hikal Limited
Slide 21: Yearly Segmental Highlights
Yearly Segmental Highlights Pharmaceuticals Revenue Crop Protection Revenue +11% +10% 1,130 813 1,060 939 887 651 661 620 753 547 FY18 FY19 FY20 FY21 FY22 FY18 FY19 FY20 FY21 FY22 Pharmaceuticals EBIT Crop Protection EBIT +7% +11% 170 112 115 151 100 103 129 128 87 99 FY18 FY19 FY20 FY21 FY22 FY18 F
Slide 22: Consolidated Profit & Loss – Full Year
Consolidated Profit & Loss – Full Year Particulars (Rs. Crore) FY22 FY21 Y-o-Y Net Sales 1,943 1,720 13% Expenditure 1,602 1,397 EBITDA 341 323 3% Margin 17.5% 18.8% Other Income 5 5 Depreciation 96 85 Finance Costs 31 36 Exceptional Item - - PBT 219 206 6% Tax 58 73 Net Profit 161 133 21% Margin 8.
Slide 23: Ratio Analysis
Ratio Analysis ROE ROCE 16.1% 15.2% 15.0% 16.2% 12.8% 15.2% 12.5% 14.5% 12.0% 10.7% FY18 FY19 FY20 FY21 FY22 FY18 FY19 FY20 FY21 FY22 Net Debt / Equity Net Debt / EBITDA 0.91 2.51 0.83 2.11 2.13 0.71 0.61 1.78 1.81 0.59 FY18 FY19 FY20 FY21 FY22 FY18 FY19 FY20 FY21 FY22 © Hikal Limited
Slide 24: Annual Dividend Payout
Annual Dividend Payout Dividend Payout 24% 22% 18% 19% 17% 20% 19% 19% 12% 17% including DDT 13.02 EPS DPS 10.80 8.36 6.85 6.27 5.70 5.18 3.28 3.35 3.43 2.00 1.60 1.00 1.20 1.20 1.20 1.20 0.90 1.00 0.60 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 9MFY23* Interim dividend of Rs. 0.60 per share (30%
Slide 25: Contact Us
Contact Us Company : Investor Relations Advisors : Hikal Limited Strategic Growth Advisors Pvt. Ltd. CIN: L24200MH1988PTC048028 CIN: U74140MH2010PTC204285 Mr. Kuldeep Jain Mr. Jigar Kavaiya / Mr. Aakash Mehta +91-9920602034 / +91-9819178243 kuldeep_jain@hikal.com jigar.kavaiya@sgapl.net / aakash.meh
Slide 26: HIKAL
HIKAL