Jubilant Pharmova Limited · NSE:JUBLPHARMA
Jubilant Pharmova — Jubilant Life Sciences — Investor Presentation (February 2017)
43 slides from Jubilant Pharmova's investor presentation, Feb 28, 2017
Slide 1: Intimation of Investor/Analyst meetings cover letter
WW) JUBIANT LIFESCIENCES February 28, 2017 BSE Limited The National Stock Exchange of India Limited Floor 25, P. J. Towers Exchange Plaza Dalal Street, Bandra Kurla Complex Mumbai - 400 001 Bandra (E) Mumbai - 400 051 Dear Sirs, Sub.: Intimation of Schedule of Investor/Analyst meetings on March 1, 2
Slide 2: Investor/Analyst meetings scheduled on 1st, 2nd and 3rd March, 2017
Investor/Analyst meetings scheduled on 1st, 2nd and 3rd March, 2017 S. No. Meeting Date Type of Name of Fund/Firm Location Meeting 1. Wednesday 1st March 2017 One on One 1. Edelweiss MF Mumbai 2. Motilal Oswal AMC 3. Ocean Dial 4. Alchemy 5. IDBI MF 6. Systematix 2. Thursday 2nd March 2017 One on On
Slide 3: Jubilant Life Sciences Limited February 2017
Jubilant Life Sciences Limited February 2017
Slide 4: Disclaimer
Disclaimer Important Disclaimer This presentation (the “Presentation”, or the “document”) has been prepared by Jubilant Life Sciences Limited (the “Company”) for the recipient for the purpose of providing information on the Company. The contents of this Presentation are confidential and strictly for
Slide 5: Jubilant Life Sciences At a Glance
Jubilant Life Sciences At a Glance Revenue (INR bn) Global integrated pharma and life sciences solutions provider with a track record of 38 years 70.0 51.7 58.0 58.3 58.0 43.6 1.8 1.2 1.3 60.0 2.1 50.0 1.3 Strategic presence in lnjectables with USFDA approved 40.0 25.6 Manufacturing facilities i
Slide 6: Jubilant Life Sciences Overview
Jubilant Life Sciences Overview Pharmaceuticals Life Science Ingredients Generics Active Pharmaceutical Ingredients Specialty Intermediates and Nutritional Solid Dosage Formulations Products India Branded Pharmaceuticals Drug Discovery Solutions Specialty Pharmaceuticals (Sterile Products) C
Slide 7: Key Credit Strengths
Key Credit Strengths 1 Global Competitive Edge Due to Low Cost and Vertical Integration 2 Strong Leadership in Key Products and Markets 3 De-risked Business Model With Diverse Sources of Revenue 4 Strong Pipeline of Products with Deep R&D Capabilities 5 High-Quality, World –Class, Low Cost Manufactu
Slide 8: Global Competitive Edge Due to Low Cost and Vertical Integration
Global Competitive Edge Due to Low Cost and Vertical 1 Integration Vertical integration across the value chain enables cost competitive advantage resulting in higher margins Pharmaceuticals Life Sciences Ingredients 1 2 3 4 Presence across the spectrum offering products/services and Fine Crop Anim
Slide 9: Leadership Position in Key Products
2 Leadership Position in Key Products… Pharmaceuticals Global leadership positions in certain key API products in CVS (Valsartan, Irbesartan) and CNS (Oxcarbazepine, Carbamazepine, Tramadol, Donepezil) Generics US leadership positions in certain Solid Dosage Formulations products in CVS (Terazos
Slide 10: Strong Position in Radiopharma & Allergy Therapy Products
…With Strong Position in Radiopharma & Allergy Therapy 2 Products Business Radiopharmaceuticals Wide array of therapeutic and diagnostic products, with market leadership and limited competition across key products in North America Demonstrated strong growth in Radiopharmaceuticals business (3-ye
Slide 11: De-risked Business Model With Diverse Sources of Revenue
De-risked Business Model With Diverse Sources of 3 Revenue De-risked business model FY16 Revenue Mix by Segment FY16 Revenue Contribution of Top 10 Customers Presence in niche Specialty Drug businesses that have high Discovery Specilaty Solutions Generics Top 10 barriers to entry Intermediates 2%
Slide 12: Strong Pipeline of Products With Deep R&D Capabilities
4 Strong Pipeline of Products With Deep R&D Capabilities Strong R&D capabilities demonstrated by complex and niche product filings in formulations and API segments Strong R&D support with a dedicated workforce of 988 scientists 76 ANDAs filed (includes 3 Cumulative R&D spend of INR 3468m over
Slide 13: High-Quality, World-Class, Low Cost Manufacturing Footprint
High-Quality, World-Class, Low Cost Manufacturing 5 Footprint Spokane, Washington, USA Roorkee, Uttarakhand Contract manufacturing of Sterile Generics manufacturing injectable and Allergy therapy Gajraula, Uttar Pradesh Largest integrated facility of Specialty Ingredients and Samlaya, Gujarat
Slide 14: Experienced Management team with high standards of corporate governance
Experienced Management team with high standards of 6 corporate governance Shyam S Bhartia Hari S Bhartia Chairman Co-Chairman & Managing Director 37 industry years in pharma, specialty 32 industry years in pharma, specialty chemicals, foods, oil and gas, aerospace chemicals, foods, oil and gas, aero
Slide 15: Performance Back on Track With Business Related Concerns Resolved
Performance Back on Track With Business Related Concerns Resolved Strong Turnaround in Jubilant Life Sciences’ EBITDA… Successful Resolution of Warning Letters at Montreal and Spokane Montreal CMO Facility 23% 22% 23% 22% 26% 24% 23% In Feb 2013, Jubilant’s manufacturing facility Jubilant Holliste
Slide 16: Update on Regulatory Status
Update on Regulatory Status CMO / Allergy Regulatory Cadista Roorkee Therapy CMO JDI Montreal Nanjangud Agency USA India Products Montreal Canada India Spokane USA Aug 2015 Apr 2016 Sep 2016 Dec 2016 Dec 2016 May 2016 Successful audits / (USA) inspections by multiple regulatory agencies / customer
Slide 17: Pharmaceuticals Segment
VW jusianr Pharmaceuticals Segment LIFESCIENCES 15
Slide 18: Overview
Overview Specialty Pharmaceuticals (Sterile Products) Generics 1 One of the leading US player developing, 1 Focus on cost competitiveness and manufacturing and marketing radiopharmaceutical regulated markets leading to superior products margins in industry Radio Leadership position in some of
Slide 19: Overview
Overview Pharmaceuticals Revenue (INR m) Specialty Pharma (Sterile Products) Generics Radiopharmaceuticals: North America APIs: Vertically integrated operations with market leadership in nuclear imaging API manufacturing for captive consumption 30,548 26,820 products as well as external sales 23,0
Slide 20: Pharma business has shown Strong Profitability
Pharma business has shown Strong Profitability EBITDA margin increasing from 16.6% in FY 2015 to 29.1% in FY 2016 Solid Dosage Formulations API RadioPharma CMO of Sterile Injectables Allergy Therapy Products EBITDA Margin (%) 22.4% 16.6% 29.1% 33.9% 33.3% 31.5% Revenue (INRmm) 30,548 27,277 26,820 2
Slide 21: Unique US led business model
We have a unique US led business model which makes us standout amongst Indian pharma companies Strength in North America Diversified Low Risk Business Model ~70% Revenues from US and Canada • Market leadership in stable, niche • Leadership positions in products specialty segments with high entry acr
Slide 22: Key Growth Drivers
Key Growth Drivers Portfolio of 73 ANDAs filed with 24 pending approvals as on December 31, 2016 Received 4 ANDA approvals in FY17 – launch of approved ANDAs to drive near term growth Geographic expansion across Europe, Japan and Emerging Markets in Solid Dosage Formulations – portfolio of 739 fi
Slide 23: Life Science Ingredients
VW jusianr Life Science Ingredients LIFESCIENCES 21
Slide 24: Overview
Overview Life Sciences Ingredients Revenue (INR m) Speciality Intermediates & Nutritional Products Life Sciences Chemicals Specialty Intermediates 31,442 Leadership in domestic market and significant global Global leadership in Pyridines, Picolines and 14 presence 27,475 derivatives Key produ
Slide 25: Key Growth Drivers
Key Growth Drivers Conversion of existing product specific plants to multi-purpose plants to meet enhanced customer demand requirements New Product launches in Specialty Intermediate plants Specialty Increased uptick of Life Sciences intermediates for Pharma related applications Intermediates and
Slide 26: Financial Overview
W jusuanr Financial Overview LIFESCIENCES 24
Slide 27: Financial Overview
Financial Overview Consolidated Revenue (INR m) Consolidated EBITDA (INR m) & EBITDA Margin Consolidated Capex (INR m) 12,914 4,661 58,034 58,262 58,023 51,660 10,858 10,546 10,266 3,540 3,369 43,649 22% 3,178 24% 21% 2,770 18% 7,317 13% FY13 FY14 FY15 FY16 9M'17 FY13 FY14 FY15 FY16 9M'17 FY13 FY14
Slide 28: Pharma Business: Overview
Pharma Business: Overview Revenue (INR m) Revenue by Segment (9M’17) Revenue by Geography (9M’17) ROW India 11% 7% 30,548 26,630 27,277 26,820 Europe & 23,082 Japan 15% Generics 47% Specialty Pharma (Sterile USA & Products) Canada FY13 FY14 FY15 FY16 9M'17 53% 67% EBITDA (INR m) % of Total EBITDA (9
Slide 29: Life Sciences Ingredients: Overview
Life Sciences Ingredients: Overview Revenue (INR m) Revenue by Segment (9M’17) Revenue by Geography (9M’17) China & ROW 30,757 31,442 12% 27,475 Specialty 25,030 Ingredients & 19,257 Nutritional Products 50% India 58% Life Sciences Europe, North Chemicals America & 50% Japan 30% FY13 FY14 FY15 FY16
Slide 30: Strong Balance Sheet
Strong Balance Sheet Debt Overview (INR m) Debt Breakdown by Currency – As on 31st December 47,904 43,926 45,344 INR 43,961 42,412 41,900 41,579 31% 38,852 39,131 38,094 US$ & Other Currencies 69% Mar-13 Mar-14 Mar-15 Mar-16 Dec-16 Gross Debt Net Debt • Reorganized debt portfolio in such a way that
Slide 31: Nine-Monthly Results Analysis
Nine-Monthly Results Analysis 29 29
Slide 32: Income Statement – 9M'FY17
Income Statement – 9M’FY17 Particulars 9M'FY16 9M'FY17 YoY Growth (Rs Crs) (%) Total Income from Operations 4,377 4,365 0% Pharmaceuticals 2,100 2,308 10% Life Science Ingredients 2,191 1,926 -12% Drug Discovery Solutions 86 131 53% Total Expenditure 3,423 3,325 -3% Other Income 11 14 29% EBITDA inc
Slide 33: Financial Highlights – 9M'FY17
Financial Highlights – 9M’FY17 • Consolidated revenue at Rs. 4,365 Crore • Pharmaceuticals revenue at Rs. 2,308 Crore, up 10% YoY, contributing 53% to the revenues • LSI revenue at Rs. 1,926 Crore, contributing 44% to the revenues • Drug Discovery Solutions revenue at Rs. 131 Crore, up 53% YoY, cont
Slide 34: Pharma Business Highlights – 9M'FY17
Pharma Business Highlights – 9M’FY17 • Revenues of Rs. 2,308 Crores, up 10% YoY • Specialty Pharmaceuticals (Sterile Products) revenues grow 11% YoY; contribute 53% to segment sales • Generics revenues grew 9% YoY, led by strong growth in APIs business • USFDA inspections of Roorkee, Radiopharmaceut
Slide 35: Pharma Business Highlights – 9M'FY17
Pharma Business Highlights – 9M’FY17 Geo-wise Revenue (Rs crs) 9M'FY16 9M'FY17 Mix % YoY % ROW, India, International 1,985 2,156 93% 9% 10.8% 6.6% USA & Canada 1,547 1,570 68% 1% Europe & Europe & Japan 263 336 15% 28% Japan, 14.5% ROW 175 250 11% 43% USA & India 115 152 7% 32% Canada, Income from O
Slide 36: Portfolio of R&D products – Filings and Approvals
Portfolio of R&D products – Filings and Approvals Product pipeline as on December 31, 2016 Dosage (Orals) Sterile including JDI Region Total Filings Approval Pending Total Filings Approval Pending US 73 49 24 12 9 3 Canada 22 19 3 14 14 0 Europe 99 96 3 12 11 1 ROW 618 458 160 44 40 4 Total 812 622
Slide 37: Filings and Approvals
Filings and Approvals Dosage (Orals) Filed 73 ANDAs in the US i. 49 ANDAs have been approved and 24 ANDAs are pending approval ii. We plan to file about 8 ANDAs in FY 17 Made 739 filings in ROW markets including Canada, Europe and Japan i. 573 filings have been approved and 166 filings are pendi
Slide 38: Portfolio of Radiopharmaceuticals Sterile Products – Filings and Approvals
Portfolio of Radiopharmaceuticals Sterile Products – Filings and Approvals Orphan Drug I-131 MIBG – potential NDA filing in US i. Jubilant has received Orphan drug status with eligibility for accelerated approval ii. Indicated for paediatric Neuroblastoma, accounting for 6-10% of cancers in childr
Slide 39: LSI Business Highlights – 9M'FY17
LSI Business Highlights – 9M’FY17 Geo-wise Revenue (Rs crs) 9M'FY16 9M'FY17 Mix % YoY % International 1,025 810 42% -21% Europe, North America and Japan 687 575 30% -16% China and ROW 338 235 12% -30% India 1,167 1,115 58% -4% Income from Operations 2,191 1,926 100% -12% • Revenues at Rs. 1,926 Cror
Slide 40: Drug Discovery Solutions Business Highlights – 9M'FY17
Drug Discovery Solutions Business Highlights – 9M’FY17 • Revenues at Rs. 131 Crore, grow 53% YoY; Contributes 3% to total revenues • EBITDA at Rs. 20 Crore, including out-licensing income of US$ 2 Million, up from Rs. (2) Crore in 9M’16 • Proprietary Drug Discovery Out-licensing of family of paten
Slide 41: Debt Profile
Debt Profile Particulars 31-Mar-16 30-Sep-16 31-Dec-16 Foreign Currency Loans ($ Mn) ($ Mn) ($ Mn) Standalone 55 35 19 Subsidiaries 320 267 403 Total 375 302 422 Rupee Loans (Rs. Crs) (Rs. Crs) (Rs. Crs) Standalone 1,422 1,485 1,253 Subsidiaries 626 624 41 Total 2,047 2,109 1,294 Gross Debt 4,534 4,
Slide 42: Outlook
Outlook The revenue and profitability is expected to be robust, led by better revenue quality in our Specialty Pharmaceuticals (Sterile Products) business. Going forward, the growth will be driven by: • In Pharmaceuticals segment: • Specialty Pharmaceuticals (Sterile Products): Growth in Radiophar
Slide 43: Our Vision & Promise
Our Vision & Promise Visit Us: Web Site: www.jubl.com Jubilant Life Sciences Limited, 1-A, Sector 16-A, NOIDA- 201301 UP, India For Investors: Ravi Agrawal Anupam Jain Ph: +91-120-436 1002 Ph: +91-120-436 1021 E-mail: ravi_agrawal@jubl.com E-mail: anupam_jain@jubl.com 41
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