Slide 1: Results Presentation – Q1 FY24
Results Presentation – Q1 FY24
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 “FY24 has started off on a challenging note due to global macro-economic pressures and high channel inventories leading to lower demand across both our businesses. The chemical industry faced difficulties due to China's opening up and depressed market conditions specific
Slide 4: Quarterly Financials Highlights
Quarterly Financials Highlights
Slide 5: Q1FY24: Performance Highlights
Q1FY24: Performance Highlights Revenue – Q1 FY24 EBITDA – Q1 FY24 EBITDA Margin – Q1 FY24 Rs. 388 Crore Rs. 50 Crore 12.9% YoY QoQ YoY QoQ YoY QoQ +2% -29% +122% -43% +696 bps -321 bps PAT – Q1 FY24 EPS – Q1 FY24 Rs. 7 Crore Rs. 0.56 YoY QoQ YoY QoQ +177% -81% +177% -81% © Hikal Limited
Slide 6: Quarterly Performance Highlights
Quarterly Performance Highlights Revenue 545 Performance Highlights 379 388 • Revenue recorded at Rs 388 Crore, 2% growth YoY basis • Change in product mix Q1FY23 Q4FY23 Q1FY24 • Increased demand of select products • EBITDA stood at Rs 50 Crore, 122% increase on YoY basis • Cost improvement initiati
Slide 7: Quarterly Performance Highlights - Pharmaceuticals
Quarterly Performance Highlights - Pharmaceuticals Revenue 309 Performance Highlights • Revenue stood flat at Rs 225 Crore vs same period last year 224 225 • EBIT stood at Rs 10 Crore • Softening of key RM prices • Lower operating leverage on sequential basis • Improvement in margins on account of b
Slide 8: Quarterly Performance Highlights - Crop Protection
Quarterly Performance Highlights - Crop Protection Revenue 236 Performance Highlights • Revenue stood at Rs 163 Crore 163 • Disruptive channel inventory correction in Agrochemicals space 154 has reduced the demand of key products in the quarter • Demand from customers is expected to recover during H
Slide 9: Quarterly Financial Highlights
Quarterly Financial Highlights Consolidated Revenue Consolidated EBITDA Consolidated PAT 559 545 88 36 540 75 70 26 25 379 388 50 7 23 Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q1FY24 Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q1FY24 -9 Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q1FY24 Rs. Crore © Hikal Limited
Slide 10: Quarterly Segmental Highlights
Quarterly Segmental Highlights Pharmaceuticals Revenue Crop Protection Revenue 292 309 290 269 248 236 224 225 154 163 Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q1FY24 Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q1FY24 Pharmaceuticals EBIT Crop Protection EBIT 36 35 30 26 27 17 11 10 10 -8 Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q1FY24 Q1FY
Slide 11: Consolidated Profit & Loss – Q1
Consolidated Profit & Loss – Q1 Particulars (Rs. in Cr) Q1 FY24 Q1 FY23 Y-o-Y Net Sales 388 379 2% Expenditure 338 356 EBITDA 50 23 122% Margin 12.9% 6.0% Other Income 1 3 Depreciation 28 27 Finance Costs 14 11 PBT 10 (12) 181% Tax 3 (3) Net Profit 7 (9) 177% Margin 1.8% -2.4% © Hikal Limited
Slide 12: Annual Financials Highlights
Annual Financials Highlights
Slide 13: Financial Highlights - Annual
Financial Highlights - Annual Revenue – FY23 EBITDA – FY23 EBITDA Margin – FY23 Rs. 2,023 Crore Rs. 257 Crore 12.7% YoY YoY YoY +4% -25% -482 bps PAT – FY23 EPS – FY23 Rs. 78 Crore Rs 6.36 YoY YoY -51% -51% © Hikal Limited
Slide 14: Annual Performance Highlights
Annual Performance Highlights Revenue EBITDA PAT 1,943 2,023 341 161 257 78 FY22 FY23 FY22 FY23 FY22 FY23 Pharmaceuticals Division Crop Protection Division 1,130 1,115 908 813 Revenue Revenue FY22 FY23 FY22 FY23 151 115 103 65 EBIT EBIT Rs. Crore FY22 FY23 FY22 FY23 © Hikal Limited
Slide 15: Yearly Financial Highlights
Yearly Financial Highlights Consolidated Revenue Consolidated EBITDA Consolidated PAT 1,943 2,023 341 161 323 1,720 298 133 1,590 273 1,507 257 103 84 78 FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21 FY22 FY23 Rs. Crore © Hikal Limited
Slide 16: Sales Break-Up
Sales Break-Up CDMO Own products Company Revenue Break-Up Pharmaceuticals Revenue Break-Up Crop Protection Revenue Break-Up 41% 45% 41% 52% 58% 56% 54% 63% 69% 77% 76% 74% 59% 55% 59% 48% 42% 44% 46% 37% 31% 23% 24% 26% FY20 FY21 FY22 FY23 FY20 FY21 FY22 FY23 FY20 FY21 FY22 FY23 © Hikal Limited
Slide 17: Yearly Segmental Highlights
Yearly Segmental Highlights Pharmaceuticals Revenue Crop Protection Revenue 1,130 1,115 908 1,060 813 939 887 651 620 661 FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21 FY22 FY23 Pharmaceuticals EBIT Crop Protection EBIT 170 112 115 151 103 103 129 100 128 65 FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21 FY22 FY
Slide 18: Consolidated Profit & Loss – Full Year
Consolidated Profit & Loss – Full Year Particulars (Rs. Crore) FY23 FY22 Y-o-Y Net Sales 2,023 1,943 4% Expenditure 1,766 1,602 EBITDA 257 341 -25% Margin 12.7% 17.5% Other Income 5 5 Depreciation 109 96 Finance Costs 48 31 Exceptional Item - - PBT 105 219 -52% Tax 27 58 Net Profit 78 161 -51% Margi
Slide 19: Consolidated Balance Sheet
Consolidated Balance Sheet Assets (Rs. Crore) Mar-23 Mar-22 Equities & Liabilities (Rs. Crore) Mar-23 Mar-22 Total Non Current Assets 1,446 1,249 Shareholders Fund 1,134 1,068 Property, Plant and Equipment 885 815 Share Capital 25 25 Capital work in Progress 402 285 Other Equity 1,109 1,043 Right to
Slide 20: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement Particulars (Rs. Crore) Full Year ended 31-Mar-23 Full Year ended 31-Mar-22 Profit before tax 105 219 Adjustments 163 126 Operating Profit Before Working Capital Changes 268 345 Change in operating assets and liabilities 76 19 Cash generated from operations 344 364 I
Slide 21: Ratio Analysis
Ratio Analysis ROE ROCE 16.2% 16.1% 15.2% 15.0% 15.2% 12.5% 14.5% 10.7% 8.5% 7.1% FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21 FY22 FY23 Net Debt / Equity Net Debt / EBITDA 0.83 0.71 2.62 0.61 0.59 0.61 2.11 2.13 1.78 1.81 FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21 FY22 FY23 © Hikal Limited
Slide 22: Annual Dividend Payout
Annual Dividend Payout Dividend Payout 24% 22% 18% 19% 17% 20% 19% 19% 12% 19% including DDT 13.02 EPS DPS 10.80 8.36 6.85 6.27 6.36 5.70 5.18 3.28 3.35 2.00 1.60 0.90 1.00 1.20 1.20 1.20 1.20 1.20 1.00 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 The above dividend is based on Face Value of Rs
Slide 23: 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 / Ms. Ami Parekh +91-9920602034 / +91-8082466052 kuldeep_jain@hikal.com jigar.kavaiya@sgapl.net / ami.parekh@s
Slide 24: Hikal
HMiKAL