Granules India Limited · NSE:GRANULES
Granules India — FY2023 Earnings Presentation
24 slides from Granules India's earnings presentation, May 16, 2023
Slide 1: Cover letter to stock exchanges
< GRANULES REGISTERED OFFICE GRANULES INDIA LTD., 2nd Floor, 3rd Block, My Home Hub, Madhapur, Hyderabad - 500 081, Telangana, India. Tel: +91 40 69043500, Fax: +91 40 23115145, mail@granulesindia.com, www.granulesindia.com CIN: L24110TG1991PLC012471 Date: May 16, 2023 To, National Stock Exchange of
Slide 2: Granules India Limited Earnings Presentation FY23
Granules India Limited Earnings Presentation FY23 1
Slide 3: Safe Harbour
Safe Harbour The Presentation is to provide the general background information about the Company’s activities as at the date of the Presentation. The information contained herein is for general information purposes only and based on estimates and should not be considered as a recommendation that any
Slide 4: Yearly Performance
Zi ( GERAnutes Yearly Performance
Slide 5: FY23: Y-o-Y performance highlights – P&L
FY23: Y-o-Y performance highlights – P&L (In ₹ Mn) FY23 FY22 Y-o-Y Gr% Y-o-Y performance Revenue 45,119 37,649 20% Growth driven by commercialisation efforts made in key geographies including US and Europe Value Added 22,046 18,813 Lower VA% in FY23 as compared to FY22 because of 17% higher mix of A
Slide 6: FY23: Y-o-Y performance highlights – Cashflow and Ratios
FY23: Y-o-Y performance highlights – Cashflow and Ratios (In ₹ Mn) FY23 FY22 FY23 FY22 FY23 FY22 Fixed Net debt/ ROCE% 21.1% 19.3% 2.06 2.02 0.84x 0.97x asset turn EBITDA Net debt = Gross debt – Cash and cash equivalents Improved utilisation of our plants Net debt has increased only by Improved EBIT
Slide 7: Key take aways..
Key take aways.. (In ₹ Mn) 1 Operating Cashflow improved from Rs.3,321 mn in FY22 to Rs.7,387 mn in FY23 on account of better EBITDA margins and improved cash to cash cycle. Net debt has increased only by Rs.705 mn despite share buy back (including taxes and transaction cost) of Rs.3,106 mn and cape
Slide 8: FY23 Revenue split by Market and Segments
FY23 Revenue spilt by Market and Segments (In ₹ Mn) Region wise share Division wise share 53% 48% 50% 52% 23% 30% 26% 21% 20% 22% 10% 12% 8% 6% 6% 5% 5% 3% USA Canada Europe LATAM India ROW API PFI FD FY23 % FY22 % FY23 % FY22 % FY23 FY22 Y-o-Y Gr% FY23 FY22 Y-o-Y Gr% USA 23,780 18,251 30% API 13,41
Slide 9: FY23 Revenue split by Molecules
FY23 Revenue spilt by Molecules (In ₹ Mn) Top molecules share FY23 FY22 Y-o-Y Gr% 46% Paracetamol 20,626 14,282 44% 38% 25% 22% 19% Metformin 9,960 9,410 6% 13% 16% 10% 4% 3% 3% 3% Ibuprofen 4,366 4,768 (8%) Guaifenesin Ibuprofen Guaifenesin Others Paracetamol Metformin Methocarbamol 1,616 1,100 47%
Slide 10: Last 5 years historical performance – Sales and profitability
Last 5 years historical performance – Sales and profitability (In ₹ Mn) Sales: 5yr CAGR: 22% VA and VA%: 5yr CAGR: 23% 45,119 22,046 37,649 18,463 18,813 51% 32,375 47% 45% 13,177 57% 25,986 50% 49% 22,792 10,236 16,918 7,955 FY18 FY19 FY20 FY21 FY22 FY23 FY18 FY19 FY20 FY21 FY22 FY23 EBITDA and EBI
Slide 11: Last 5 years historical performance – Cashflow and Ratios
Last 5 years historical performance – Cashflow and Ratios (In ₹ Mn) ROCE% Asset turns Net debt and Net debt/EBITDA 28.6% 8,704 9,082 2.00 1.98 2.02 2.06 7,671 1.89 6,966 21.1% 1.75 2.36 6,058 5,752 19.3% 3.13 17.4% 13.1% 1.15 0.97 11.4% 0.67 0.84 FY21 FY18 FY19 FY20 FY22 FY23 FY18 FY19 FY20 FY21 FY2
Slide 12: Quarterly Performance
fA ( GERAnutes Quarterly Performance
Slide 13: Q4FY23: Y-o-Y performance highlights – P&L
Q4FY23: Y-o-Y performance highlights – P&L (In ₹ Mn) Q4 FY23 Q4 FY22 Y-o-Y Gr% Y-o-Y performance Revenue 11,955 10,300 16% Growth driven by commercialisation efforts made in key geographies including US and Europe Value Added 5,720 5,039 Lower VA% in Q4FY23 as compared to Q4FY22 14% because of highe
Slide 14: Q4FY23: Q-o-Q performance highlights – P&L
Q4FY23: Q-o-Q performance highlights – P&L (In ₹ Mn) Q4 FY23 Q3 FY23 Q-o-Q Gr% Q-o-Q performance Revenue 11,955 11,461 4% Growth driven by commercialisation efforts made in key geographies including US Value Added 5,720 5,544 Lower VA% in Q4FY23 as compared to Q3FY23 3% because of price erosion in d
Slide 15: Q4FY23 Revenue split by Market and Segments
Q4FY23 Revenue spilt by Market and Segments (In ₹ Mn) Region wise share Division wise share 54% 51% 51% 48% 24% 31% 24% 25% 22% 12% 18% 5% 5% 6% 6% 8% 6% 6% USA Canada Europe LATAM India ROW API PFI FD Q4 FY23 % Q4 FY22 % Q4 FY23 % Q4 FY22 % Q4 FY23 Q4 FY22 Y-o-Y Gr% Q4 FY23 Q4 FY22 Y-o-Y Gr% USA 6,
Slide 16: Q4FY23 Revenue split by Molecules
Q4FY23 Revenue spilt by Molecules (In ₹ Mn) Top molecules share Q4 FY23 Q4 FY22 Y-o-Y Gr% 47% 40% Paracetamol 5,660 4,093 38% 21% 23% Metformin 2,547 2,377 7% 17% 18% 12% 8% Ibuprofen 4% 4% 3% 2% 935 1,260 (26%) Guaifenesin 422 437 (3%) Guaifenesin Others Paracetamol Ibuprofen Methocarbamol Metformi
Slide 17: Last 5 quarters historical performance – Sales and profitability
Last 5 quarters historical performance – Sales and profitability (In ₹ Mn) Sales VA and VA % 11,507 11,461 11,955 5,722 5,720 5,544 9,968 10,300 10,196 5,039 5,060 4,648 47% 49% 50% 50% 48% 48% Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Q4FY23 EBITDA and EBITDA % PA
Slide 18: Last 5 quarters historical performance – Cashflow and Ratios
Last 5 quarters historical performance – Cashflow and Ratios (In ₹ Mn) ROCE% Asset turns Net debt and Net debt/EBITDA 23.0% 21.4% 8,940 21.1% 7,671 19.1% 19.3% 20.5% 7,232 6,966 6,132 5,537 2.07 2.02 2.03 2.07 2.09 2.06 1.03 0.97 0.98 0.84 0.72 0.61 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q3FY22 Q
Slide 19: ANDA/Dossier filing status
ANDA/Dossier filing status GPI IP GIL IP Filing Status South Total USA USA Europe Canada UK Others Africa Approved 24 29 5 5 3 1 67 Tentatively Approved 1 1 2 To be approved 5 10 3 2 4 3 27 Total Products 30 40 8 7 4 3 4 96 ANDA/Dossier filed - Therapeutic area wise Analgesics 29 Central Nervous Sys
Slide 20: Sustainability Initiatives at Granules
Sustainability Initiatives at Granules Our Ongoing Sustainability efforts Our efforts are getting recognized We are currently developing a have been focused on Energy, in the universe of sustainability comprehensive, long-term Water & Waste Management sustainability and ESG roadmap Received Score “C
Slide 21: GRANULES CZRO: Sustainability Redefined: Innovating for a Greener Future
Sustainability Redefined: Innovating for a Greener Future Kakinada Green Pharmaceutical Zone (GPZ) : Granules Partnership With Greenko KAKINADA GPZ with Greenko Value Proposition GRANULES Decarbonize Granules' value Backward Integration, Create Innovation and CZRO* streams, offering near “Net Value
Slide 22: GRANULES CZRO: Frugal Approach to Investment
GRANULES CZRO: Frugal Approach to Investment Phase Wise & Stage Strengthening our Core Frugal Approach to Capital FY 24 Capex Outlay for Gated Investment Business Deployment CZRO To be commissioned in a Focus for the first phase Investment Plan with Planned outlay for FY24 Phase wise and Stage is to
Slide 23: Glossary
Glossary API: Active Pharmaceutical Ingredient PFI: Pharmaceuticals Formulation Intermediates FD: Finished Dosage OTC: Over the counter drugs Rx: Prescription drugs IR: Immediate Release ER: Extended Release CII: Control substances PFOS: Powder for oral suspensions and solutions MUPS: Multi-unit pel
Slide 24: Corporate address
Mr. Puneet Varshney GM Business Finance and Head Investor Relations Email: puneet.varshney@granulesindia.com www.granulesindia.com Ms. Payal Dave payal.dave@linkintime.co.in Mr. Ashish Chovatia +91 9930044680 ashish.chovatia@linkintime.co.in www.orientcap.com 532482 GRANULES Corporate address: GRAN: