Torrent Pharmaceuticals Ltd · NSE:TORNTPHARM
Torrent Pharmaceuticals — Q3 FY2015 Earnings Presentation
29 slides from Torrent Pharmaceuticals's earnings presentation, 2015
Slide 1: Investor Presentation Q3 FY 2014-15
Investor Presentation Q3 FY 2014-15
Slide 2: Caveat
Caveat This information may contain certain forward-looking statements/ details in the current scenario, which is extremely dynamic and increasingly fraught with risks and uncertainties. Actual results, performances, achievements or sequence of events may be materially different from the views expre
Slide 3: Agenda
AGENDA Performance over Period Segmental Highlights Financial Highlights Q3
Slide 4: Performance over Period
torrent PHARMA Performance over Period
Slide 5: Torrent Pharma: Assets Across the Value Chain
Torrent Pharma: Assets Across the Value Chain Domestic Sales Branded Research and International Manufacturing and Generics Development Operations Marketing Player Value-added API + formulation Broad and Reach to over 70 More than 40% generics facilities having differentiated product countr
Slide 6: Torrent Pharma Today
Torrent Pharma Today FY 13-14 Revenues : ¥ 4184 crores CRAMS Others 8% ua India 28% International 63% Brazil 35%
Slide 7: 5 year performance
5 year performance 35% 30% 28% 24% 26% 33% 32% 30% 28% 26% 12% 13% 14% 14% 12% 18% 18% 18% 16% 16% 21% 23% 22% 21% 21% 09-10 10-11 11-12 12-13 13-14 EBIT DA to sales PBT to sales PAT to sales Ro CE ROE
Slide 8: Segmental Highlights
torrent PHARMA Segmental Highlights
Slide 9: Business Segment : India
Business Segment : India
Slide 10: Acquired Portfolio – Accelerating Synergy Results
Acquired Portfolio – Accelerating Synergy Results ACQUIRED PORTFOLIO GR% PERFORMANCE VS. MARKET Market Acq. Portfolio 49 15 12 Post deal closing M A T D EC Q TR D EC -8 Synergizing Pain/Woundcare Key Highlights • Significant improvement post-deal • New Pain/Wound care division with closing in Recove
Slide 11: Existing divisions (Other than Acquired portfolio)
Existing divisions (Other than Acquired portfolio) MAT VAL MAT VAL MAT VAL Growths vs. Market* No.of Brands Dec 12 Dec 13 Dec 14 IPM Gr% 14 7 10 Brand Torrent Torrent TPL Total Gr% 15 15 16 Slab 2010 2014 IPM Wo AI Gr% 15 8 11 TPL wo AI %Gr 18 17 17 100+ Cr 0 1 50-100 Cr 0 6 • Among the top 4 growin
Slide 12: India
India ` Cr Q3 Q3 India 13-14 12-13 14 - 15 13 - 14 Revenues 420 296 1161 1024 % Growth 42% 13% Q3 FY 15 Highlights • MAT Dec-14:IPM growth 10%, Covered Market growth (Excl: Elder Portfolio):11%,Torrent growth (Excl: Elder Portfolio):16%, as per AIOCD. • Current quarter, includes sales from acquired
Slide 13: Business Segment : International
Business Segment : International
Slide 14: International Operations – Our Strengths
International Operations – Our Strengths Production Scale Business Model Product Selection US FDA Approved – Indrad Generics Business plant – 5.5 bn units -USA, Germany & UK & Development Increasing Investments in EU & ANVISA Approved – R&D. Branded Generics – Baddi plant – 4.8 bn • Brazil – Among T
Slide 15: International Business segment : Sales summary
International Business segment : Sales summary YTD Q3 Growth YTD Growth Q3 13- YTD 14- YTD 13- Q3 Gwth Growth (Constant (Constant Segment Q3 14-15 14 15 14 (INR) (INR) Cur.) Cur.) USA 171 148 607 375 16% 62% 16% 57% Europe 227 248 704 679 -9% 4% 0% 4% Brazil 156 147 465 405 6% 15% 19% 21% ROW 106 95
Slide 16: USA
USA ` Cr Q3 Q3 USA 13-14 12-13 14 - 15 13 - 14 Revenues 171 148 776 355 % Growth 16% 119% Q3 FY 15 Highlights • Constant Currency Growth 16%. • Torrent continues to deal with large customers which has helped in improving reach and market share. Growth drivers • As of Dec-14 the Company has 53 ANDA a
Slide 17: USA – Moving up the value chain
USA – Moving up the value chain…. Pipeline & Growth drivers Strengthening Channel – Diversifying Presence Management portfolio 53 ANDA Among top 3 approvals + 19 Planning entries players in 10 pending + 44 into new molecules Products under segments development Strengths in multiple channels Increasi
Slide 18: Brazil
Brazil ` Cr Q3 Q3 Brazil 13-14 12-13 14 - 15 13 - 14 Revenues 156 147 533 502 % Growth 6% 6% Q3 FY 15 Highlights • Constant currency Growth 19% • MAT Nov 2014 covered Market Growth (excluding Government reimbursement programme) is 12%, Torrent growth 28% as per IMS in units term. • Products where pr
Slide 19: Brazil – Leveraging Torrent's Core competencies
Brazil – Leveraging Torrent’s Core competencies Branded Generics • Among the Top 20 Rx cos.* • Presence in the Top 3 Therapies of Brazil Market – Cardio-Metabolic & CNS • Among the top 5 Cos.^ In the market • Focus on Productivity, Brand building & specialties • Strong relationship & Access with Neu
Slide 20: Brazil Branded Generics Market – Going Strong
Brazil Branded Generics Market – Going Strong Channel Segment Promotion Discounts High Brand building thrust & Rx Pull Branded Generics Small model Trade Push & Discounts (Low Generics Large Promotion spend) Reference/ Branded Generics Generics Innovator • 2014 Unit share – • 2014 Unit share – • 201
Slide 21: Europe
Europe ` Cr Q3 Q3 Europe 13-14 12-13 14 - 15 13 - 14 Revenues 227 248 930 650 % Growth -9% 43% Q3 FY 15 Highlights • On constant currency basis revenues were flat. • Germany Operations key revenue contributor. Growth drivers • New Products going off patent and Therapy coverage expansion in Heumann •
Slide 22: Europe – Growth Drivers
Europe – Growth Drivers Generics • Germany – Among the Top 5 players* • Among the highest awarded in tender business Branded Generics • Romania • Presence in CV/CNS market Licensing Business • De-risked Business model – Not just a few partners • Top 5 partners contribute 54% to the business IMS Unit
Slide 23: ROW
ROW ` Cr Q3 Q3 ROW 13-14 12-13 11-12 14 - 15 13 - 14 Revenues 106 95 388 328 247 % Growth 12% 18% 16% Q3 FY 15 Highlights • Revenue growth impacted due to: • Discontinuation of Business in non performing countries & • Adverse currency movements in Russia. Growth drivers • Future Growth Drivers – Mex
Slide 24: Financial Highlights – Q3 FY 15
Financial Highlights – Q3 FY 15
Slide 25: Q3 FY15 Performance Highlights
Q3 FY15 Performance Highlights • Revenues at ` 1,168 Cr vs. ` 1,015 Cr, growing at 15%; Constant currency growth of 20%. • Excluding sales from acquired business from Elder, India formulations market growth for quarter is 15%. • India formulation market growing at 42%. • International operations gro
Slide 26: Revenue Progression
Revenue Progression ` Cr Particulars Q3 Q3 Gwth % 13-14 12-13 Gwth % 14 - 15 13 - 14 India (A) 420 296 42% 1,161 1,024 13% International (B) 660 637 4% 2,629 1,827 44% Total (A+B) 1,080 934 16% 3,791 2,852 33% USA 171 148 16% 776 355 119% Brazil 156 147 6% 533 502 6% Europe 227 248 -9% 930 650 43% R
Slide 27: P&L
P&L ` Cr Q3 Q3 YTD Dec YTD Dec Particulars 14 - 15 13 - 14 14-15 13-14 REVENUES 1,168 1,015 3,499 2,959 % Growth 15% 18% Gross Margin 796 697 2,445 2,041 % Revenues 68% 69% 70% 69% EBITDA 300 215 1,018 602 % Revenues 26% 21% 29% 20% PBT 201 188 785 527 % Revenues 17% 19% 22% 18% % Growth 7% 49% Tax
Slide 28: Balance Sheet
Balance Sheet ` Cr P a rticu la rs 31-M a r-14 % 31-D e c-14 % ∆ EQ U IT Y A ND L I AB I L I T I ES S h a re h o ld e rs fu n d s 1, 902 62% 2,507 50% 604 M i n o rity I n te re st 0 0% 0 0% 0 L o n g T e rm B o rro w in g s 921 30% 2,169 43% 1, 247 N o n -cu rre n t l ia b i litie s 248 8% 381 8% 1
Slide 29: Thank You
Thank You
Torrent Pharmaceuticals — Q3 FY2015 Earnings Presentation on 6ix