Ajanta Pharma Limited · NSE:AJANTPHARM
Ajanta Pharma — Q3 FY2017 Earnings Presentation
31 slides from Ajanta Pharma's earnings presentation, Jan 24, 2017
Slide 1: Investor Presentation Q3 FY 2017
Investor Presentation Q3 FY 2017 24th January 2017 24th January 2017
Slide 2: Content
Content India Infrastructure 3 1 2 Exports Financial Highlights 4 24th January 2017 2 of 31
Slide 3: India
24th January 2017 1 3 of 31 India
Slide 4: India Branded Generic Business
India Branded Generic Business Cardiology Specialty Ophthalmology Segment Dermatology Pain Management 14 Divisions Focused 3,000+ MRs Marketing 200+ Products About 70% products First to Market Leadership in sub therapeutic segments Established Strong Brand Equity Player 24th Janu
Slide 5: India Sales – Q3
India Sales – Q3 India Branded Sales# Therapeutic Break-up (Rs. cr.) (Rs. cr.) 13% 16% 149 132 63 7% 17% 54 35 37 38 32 6% 11 -10% 10 6 5 Q3 FY 2016 Q3 FY 2017 Ophthalmology Dermatology Cardiology Pain Mgt. Institution Total India Sales@ Q3 FY 2016 Q3 FY 2017 (Rs. cr.) Rs. cr. 12% 154 Q3 FY Q3 FY Gt
Slide 6: India Sales – 9M
India Sales – 9M India Branded Sales # Therapeutic Break-up (Rs. cr.) (Rs. cr.) 23% 195 18% 460 391 11% 158 17% 107 118 111 95 14% -51% 31 36 29 9M FY 2016 9M FY 2017 15 Ophthalmology Dermatology Cardiology Pain Mgt. Institution Total India Sales @ (Rs. cr.) 9M FY 2016 9M FY 2017 13% 474 420 Rs. cr.
Slide 7: IPM - Ranking
IPM - Ranking Rank Dec 2016 Dec 2015 Mar 2005 Ophthal 4 5 28 Derma 13 13 98 Cardio 20 20 38 Pain 44 45 NA Ajanta 33 33 88 24th January 2017 IPM = Indian Pharmaceutical Market Source: IMS 7 of 31
Slide 8: Within Segments Ajanta Way Ahead
Within Segments Ajanta Way Ahead Dec. 2016 - MAT (Source: IMS) 22% 17% 16% 13% 12% 11% 11% 10% 10% 9% 24th January 2017 Pharma Market Dermatology Cardiology Ophthalmology Pain Mgt. IPM Ajanta Pharma IPM – Indian Pharmaceutical Market 8 of 31
Slide 9: Faster than Industry - IPM
Faster than Industry - IPM 36% 29% 26% 23% 17% 14% 12% 11% 10% 10% Mar-2013 Mar-2014 Mar-2015 Mar-2016 Dec-2016 24th January 2017 IPM Ajanta Pharma IPM = Indian Pharmaceutical Market Source: IMS 9 of 31
Slide 10: Exports
24th January 2017 2 10 of 31 Exports
Slide 11: Global Presence
Global Presence USA West Asia CIS (3 Countries) (6 Countries) South East Asia (3 Countries) India Africa (19 Countries) 24th January 2017 11 of 31
Slide 12: Emerging Markets
Emerging Markets Asia – 354 Product Africa – 1,183 Registrations Rich product pipeline under registration and under development in R&D Asia - Cardio, Pain, MED, GI, Antibiotic, Therapeutic Derma, Anti Histamine Segments Africa - Anti Malaria, Multivitamin, Cardio, Antibiotic, Gynaec, MED,
Slide 13: Regulated Markets
Regulated Markets Final Approval: 16 Tentative approval: 2 ANDA Status# Under approval: 14 Filing target for current year: 8 to 12 Filed in FY 2017 : 6 12 Products commercialized More products scheduled for launch in coming months Sales & Focus on Oral Solids Marketing# Mix of Para
Slide 14: Export Sales Q3 FY 2017 (Consolidated)
Export Sales Q3 FY 2017 (Consolidated) Regional Break-up (Rs. cr.) 8% 211 Total Sales (Rs. cr.) 196 -30% 9% 361 332 129 1290% 90 59 -53% 4 3 1 Africa Asia USA Others Q3 FY 2016 Q3 FY 2017 Rs. cr. Q3 FY 2016 Q3 FY 2017 Gth Q3 FY 2016 Q3 FY 2017 Africa 196 211 8% Asia 129 90 -30% USA 4 59 1290% 24th J
Slide 15: Export Sales 9M FY 2017 (Consolidated)
Export Sales 9M FY 2017 (Consolidated) Regional Break-up (Rs. cr.) 12% 579 Total Sales (Rs. cr.) 518 -18% 14% 342 1,002 281 1351% 878 139 -63% 10 8 3 Africa Asia USA Others 9M FY 2016 9M FY 2017 Rs. cr. 9M FY 2016 9M FY 2017 Gth 9M FY 2016 9M FY 2017 Africa 518 579 12% Asia 342 281 -18% 24th January
Slide 16: Total Sales
Total Sales Q3 Revenue Break up 9M Revenue Break-up (Rs. cr.) (Rs. cr.) 10% 14% 1,476 515 14% 9% 1,298 470 361 1,002 332 878 12% 13% 137 154 420 474 India Exports Total Revenue India Exports Total Revenue Q3 FY 2016 Q3 FY 2017 9M FY 2016 9M FY 2017 Rs. cr. Rs. cr. Q3 FY Q3 FY 9M FY 9M FY Gth Gth 201
Slide 17: Infrastructure
3 Infrastructure 24th January 2017 17 of 31
Slide 18: Manufacturing
Manufacturing Formulation Manufacturing 3 existing facilities in Aurangabad, Maharashtra (1 USFDA & WHO Pre-Q approved) 1 Facility at Mauritius Dahej (Gujarat) - Commercial operation from April 2017 Guwahati (Assam) – First phase commissioned, 2nd phase by Q4 FY 2018 API Manufacturing 1 Fa
Slide 19: R&D
R&D R&D spend & % of Oper. Income (Excluding Capex) 6% 5% 106 4% 4% 70 5% 50 37 37 Team size of 800+ scientists Q3 revenue spend is Rs. 45 cr. (8.4% of revenue) 24th January 2017 FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 9 months revenue spend is Rs. 114 cr. (7.5% of revenue) 19 of 31
Slide 20: Financial Highlights
4 Financial Highlights 24th January 2017 20 of 47 20 of 31
Slide 21: P&L Synopsis – Q3 FY 2017 (Consolidated)
P&L Synopsis – Q3 FY 2017 (Consolidated) Rs. cr. Q3 FY 2017 % to Sales Q3 FY 2016 % to Sales % Growth Exports 361 68% 332 70% 9% Domestic 154 29% 138 29% 12% Other Op. Income 18 3% 7 1% 156% Income from Operations 533 477 12% EBITDA 178 33% 164 34% 9% PBT 181 34% 153 32% 19% PAT 143 27% 114 24% 25%
Slide 22: P&L Synopsis – 9M FY 2017 (Consolidated)
P&L Synopsis – 9M FY 2017 (Consolidated) Rs. cr. 9M FY 2017 % to Sales 9M FY 2016 % to Sales % Growth Exports 1,002 66% 878 67% 14% Domestic 474 31% 420 32% 13% Other Op. Income 49 3% 16 1% 203% Income from Operations 1,525 1,314 16% EBITDA 528 35% 440 34% 20% PBT 504 33% 420 32% 20% PAT 393 26% 303
Slide 23: Detailed P&L – Q3 & 9M FY 2017 (Consolidated)
Detailed P&L – Q3 & 9M FY 2017 (Consolidated) (Ind AS) Q3 9M Rs. cr. FY 2017 FY 2016 FY 2017 FY 2016 Income from Operations 533 477 1,525 1,314 Materials consumed 107 20% 115 24% 322 21% 318 24% Employee Benefit 77 15% 65 14% 220 14% 188 14% Finance Cost 1 0% 1 0% 3 0% 4 0% Depreciation 15 3% 12 2%
Slide 24: Ind AS Reconciliation (Consolidated)
Ind AS Reconciliation (Consolidated) Rs. cr. Reserve Profit Reconciliation Particulars Reconciliation Q3 FY 2016 9M FY 2016 FY 2016 FY 2016 Net Profit/Reserves as per 111.30 295.10 401.41 1,154.37 Accounting Standard Fair Value Adjustment of 0.72 2.85 4.45 10.37 Financial Assets Employee Benefits –
Slide 25: Consistent Track Record (Consolidated)
Consistent Track Record (Consolidated) Consolidated Gross Revenue PAT (Rs. cr.) & PAT Margin (%) (Rs. cr.) 11% 12% 19% 21% 23% 1,743 1,485 401 1,216 310 937 234 685 112 77 2012 2013 2014 2015 2016 2012 2013 2014 2015 2016 24th January 2017 25 of 47 25 of 31
Slide 26: Consistent Track Record (Consolidated)
Consistent Track Record (Consolidated) EBITDA Margin Net Margin 23% (%) 21% (%) 34% 34% 19% 31% 24% 21% 11% 12% 2012 2013 2014 2015 2016 2012 2013 2014 2015 2016 RONW ROCE (%) 50% 47% (%) 43% 45% 40% 42% 37% 32% 29% 22% 24th January 2017 2012 2013 2014 2015 2016 2012 2013 2014 2015 2016 26 of 47 26
Slide 27: Consistent Track Record (Consolidated)
Consistent Track Record (Consolidated) EPS Dividend per share 8 46 (Rs.) (FV Rs. 2/-) (Rs.) 6 35 27 4 3 13 2 9 2012 2013 2014 2015 2016 2012 2013 2014 2015 2016 Dividend Payout Book Value per share (%) (Rs.) 133 19% 19% 18% 15% 96 13% 67 45 34 24th January 2017 2012 2013 2014 2015 2016 2012 2013 201
Slide 28: Consistent Track Record (Consolidated)
Consistent Track Record (Consolidated) Total Debt / Equity Receivable Days 0.67 (Ratio) (Nos.) 77 80 65 60 63 0.32 0.22 0.09 0.08 2012 2013 2014 2015 2016 2012 2013 2014 2015 2016 92 Payable Days Inventory Days (Nos.) (Nos.) 131 134 59 48 99 44 85 40 82 24th January 2017 2012 2013 2014 2015 2016 201
Slide 29: Awards & Recognitions
Awards & Recognitions Mr. Yogesh & Rajesh Agrawal Nominated for LISTED IN ‘INDIA’S TOP 100 CEOS’ “Next Generation Entrepreneur of the year” 116th Profit After Tax 6th In Wealth Creation 127th Overall ranking 174th In PAT 356th Total Income 24th January 2017 487th In Sales 437th Total Assets Ranking
Slide 30: Thank You!
For updates and company information please visit our website: www.ajantapharma.com For specific queries, contact: Rajeev Agarwal rajeev.agarwal@ajantapharma.com THANK YOU! 022-66061377 Ajanta Pharma Limited Ajanta House, Charkop, Kandivli (W), Mumbai 400 067 CIN No. - L24230MH1979PLC022059 24th Janu
Slide 31: Disclaimer
Disclaimer This presentation may include certain ‘forward looking statements’, based on current expectations, forecasts and assumptions within the meaning of applicable laws and regulations. They are subject to risks and uncertainties which could cause actual outcomes and results to differ materiall