Dishman Carbogen Amcis Ltd. · NSE:DCAL
Dishman Carbogen Amcis — Q2 FY20 Earnings Presentation
27 slides from Dishman Carbogen Amcis's earnings presentation, Oct 24, 2019
Slide 1: Cover letter to stock exchanges
dish man 24th October, 2019 To, To, Department of Corporate Services The Manager, BSE Ltd. Listing Department, Phiroze Jeejeebhoy Towers, National Stock Exchange of India Ltd. Dalal Street, "Exchange Plaza", C-1, Block G, Mumbai - 400 001. Bandra-Kurla Complex, Sandra (E), Mumbai - 400 051. Ref.: Sc
Slide 2: Dishman Carbogen Amcis Q2 FY20 Results Update
DISHMAN CARBOGEN AMCIS LIMITED Q2 FY20 RESULTS UPDATE OCTOBER 2019 1
Slide 3: Safe Harbor Statement
SAFE HARBOR STATEMENT This presentation and the following discussion may contain “forward looking statements” by Dishman Carbogen Amcis Limited (‘Dishman’ or the ‘Company’) that are not historical in nature. These forward looking statements, which may include statements relating to future results of
Slide 4: Discussion Summary
DISCUSSION SUMMARY ❖ Q2 FY20 RESULTS UPDATE ❖ INDUSTRY OVERVIEW ❖ COMPANY OVERVIEW 3
Slide 5: Q2 & H1 FY20 Results Update
Q2 & H1 FY20 RESULTS UPDATE 4
Slide 6: Q2 FY20 Result Highlights
Q2 FY20 RESULT HIGHLIGHTS In Rs Mn REVENUES EBITDA & EBITDA MARGIN * 31.2% 4,324 4,498 28.7% 1,458 1,286 4% Q2 FY19 Q2 FY20 Q2 FY19 Q2 FY20 ADJUSTED PBT # & PBT MARGIN CASH PAT @ & CASH EPS 20.8% 18.7% 5.6 5.7 930 1,005 1,091 875 Q2 FY19 Q2 FY20 Q2 FY19 Q2 FY20 * EBITDA excluding other income @ Cash
Slide 7: H1 FY20 Result Highlights
H1 FY20 RESULT HIGHLIGHTS In Rs Mn REVENUES EBITDA & EBITDA MARGIN * 9,511 8,811 26.9% 26.8% 2,498 2,652 7.9% H1 FY19 H1 FY20 H1 FY19 H1 FY20 ADJUSTED PBT # & PBT MARGIN CASH PAT @ & CASH EPS 23.4% 20.2% 29.2 24.8 2,173 2,000 2,166 2,302 H1 FY19 H1 FY20 H1 FY19 H1 FY20 * EBITDA excluding other incom
Slide 8: Consolidated P&L Statement
CONSOLIDATED P&L STATEMENT Particulars (In Rs. Mn.) Q2 FY20 Q2 FY19 YoY % H1 FY20 H1 FY19 YoY % Revenue from Operations 4,497.9 4,324.1 4.0% 9,510.8 8,811.3 7.9% Other Operating Income 175.2 153.0 14.5% 381.3 488.1 -21.9% Total Revenues 4,673.1 4,477.1 4.4% 9,892.1 9,299.4 6.4% COGS 626.7 690.9 -9.3
Slide 9: Consolidated Balance Sheet
CONSOLIDATED BALANCE SHEET Particulars (Rs. Mn.) Sep-19 Mar-19 Particulars (Rs. Mn.) Sep-19 Mar-19 Shareholder Funds Non-Current Assets Equity Share Capital 322.8 322.8 Property, plant and equipment 16,092.6 15,330.3 Other Equity 54,489.6 53,468.1 Capital Work in Progress 1,938.5 1,433.3 Total – Sha
Slide 10: Q2 & H1 FY20 Segment-wise Revenue Analysis
Q2 & H1 FY20 SEGMENT-WISE REVENUE ANALYSIS In Rs Mn Revenues – Segment wise Breakup Q2 FY20 Q2 FY19 YoY% H1 FY20 H1 FY19 YoY% CRAMS (% of total) 76.8% 75.7% 76.0% 75.5% CRAMS – India 1,125.7 737.6 52.6% 1,893.1 1,335.8 41.7% CRAMS – CAAG+RIOM* 2,086.8 2,253.1 -7.4% 4,718.6 4,896.6 -3.6% CRAMS – UK 2
Slide 11: Segment-wise Revenue Break-up
SEGMENT-WISE REVENUE BREAK-UP Total Operating Revenue – Q2 FY20 Total Operating Revenue – H1 FY20 CRAMS – 76.8% Marketable Molecules – 23.2% CRAMS – 76% Marketable Molecules – 24% 7% 9% 56% 52% 60% 100% 65% 100% 48% 44% 33% 26% CRAMS - India CRAMS - CAAG+RIOM* CRAMS - UK CRAMS - India CRAMS - CAAG+R
Slide 12: Q2 & H1 FY20 Segment-wise Margin Analysis
Q2 & H1 FY20 SEGMENT-WISE MARGIN ANALYSIS EBITDA Margin % – Segment wise Q2 FY20 Q2 FY19 H1 FY20 H1 FY19 CRAMS CRAMS – India 60.5% 59.0% 56.9% 57.5% CRAMS – CAAG+RIOM* 21.1% 22.0% 19.5% 20.4% CRAMS – UK 26.7% 26.8% 17.7% 23.1% Marketable Molecules Carbogen Amcis BV** 40.3% 41.7% 35.0% 43.5% Others#
Slide 13: Q2 & H1 FY20 Result Highlights
Q2 & H1 FY20 RESULT HIGHLIGHTS Financial Highlights: ❑ Total Revenues increased by 4% YoY to Rs 4,497.9 mn in Q2 FY 2020. ❖ CRAMS revenue grew by 5.4% YoY primarily due to increase in development and commercial orders. ❖ CRAMS India revenue grew by 52.6% YoY mainly due to increase in sales of certai
Slide 14: Q2 & H1 FY20 Result Highlights
Q2 & H1 FY20 RESULT HIGHLIGHTS ❑ Net debt as on September 30, 2019 was USD 113.5 mn vs. USD 120 mn as on March 31, 2019. ❑ Finished goods inventory maintained at a higher level in Switzerland to fulfil the commercial product sales in upcoming quarters ❑ Other Current Liabilities were at an elevated
Slide 15: Improving Margin Profile Across Key Segments
IMPROVING MARGIN PROFILE ACROSS KEY SEGMENTS Segment-Wise EBITDA Margin Trend 60.5% 56.2% 57.1% 54.1% 50.1% 38.2% 40.9% 33.2% 35.0% 29.8% 21.3% 20.2% 19.8% 21.1% 18.6% FY16 FY17 FY18 FY19 H1FY20 CRAMS - India CRAMS - CAAG + RIOM Carbogen Amcis BV 14
Slide 16: Company Overview
COMPANY OVERVIEW 15
Slide 17: Brief Profile
BRIEF PROFILE BUSINESS OVERVIEW KEY STRENGTHS FINANCIAL OVERVIEW • Integrated CRAMS company with strong • Preferred global outsourcing partner with • Consolidated Revenues, EBITDA and capabilities right from process research & capabilities across the entire CRAMS value Adj. PAT of Rs 20,586 Mn, Rs 5
Slide 18: Manufacturing Facilities – Robust R&D Capabilities
MANUFACTURING FACILITES – ROBUST R&D CAPABILITIES Facilities are approved by recognised health agencies: USFDA, MEB, SWISS MEDIC, ANSM, TGA, WHO, KFDA Superior Chemistry Skills & Capabilities • 28 dedicated R&D labs with multiple-shift R&D operations, including HIPO labs • 25 multi-purpose facilitie
Slide 19: Preferred Global Outsourcing Partner
PREFERRED GLOBAL OUTSOURCING PARTNER INTEGRATED STRONG CLOSE PROXIMITY LARGE SCALE ACROSS THE VALUE CHEMISTRY TO CLIENTS WITH MANUFACTURING CHAIN CAPABILITIES GLOBAL PRESENCE CAPACITIES Integrated CRAMS Player present along the entire value chain from building blocks to commercialization and product
Slide 20: Integrated CRAMS Player
INTEGRATED CRAMS PLAYER Integrated CRAMS Player – Strong Capabilities across the Value Chain Carbogen Amcis (CA) Strong Research Capabilities EARLY STAGE LATE STAGE COMMERCIAL SUPPLY • Focus is on supporting the Process research and API supply to Process development and Secure, value-for-money devel
Slide 21: Cutting-Edge HIPO Capabilities
CUTTING-EDGE HIPO CAPABILITIES World Class HIPO capabilities • Facilities range from laboratory scale for process research and development to large scale manufacturing on 8,000 L scale, with an ability to handle the highest category IV compounds (high toxicity levels). • State-of-the-art containment
Slide 22: Corporate Restructuring
CORPORATE RESTRUCTURING SCHEME OF ARRANGEMENT & AMALGAMATION IMPACT OF MERGER • The Board Of Directors approved the Scheme of Arrangement and • The amalgamation has been accounted under the "Purchase Method" as Amalgamation on 24th February 2016, which involves merger of per AS14. Dishman Pharmaceut
Slide 23: Industry Overview
INDUSTRY OVERVIEW 22
Slide 24: Global Spending on Medicine
GLOBAL SPENDING ON MEDICINE As per BRC Report, Contract Research Outsourcing (CRO) Market to reach $44.4bn by 2021 • Oncology is expected to be the most critical therapeutic segment driving the global spend on medicine in future. Outlook of Leading Therapy Areas Spending and Growth, Constant US $ Bn
Slide 25: Global Medicines in Late Stage Development
GLOBAL MEDICINES IN LATE STAGE DEVELOPMENT Oncology 29% • Oncology has become one of the major focus 13% areas for pharmaceutical and biotechnology companies. CNS 11% 7% • Around 29% of the Phase II / III clinical trials are in the Oncology segment. Anti-Infectives / 6% Antivirals 9% • Oncology (can
Slide 26: Global Oncology Medicine Pipeline
GLOBAL ONCOLOGY MEDICINE PIPELINE ➢ 710 Molecules in late-stage development and 700+ companies with late-stage oncology drugs. ➢ Top companies with combined sales of $10bn+ have ~40% of their product pipeline in oncology. ➢ 455 smaller companies with 90%+ product pipeline in oncology, are involved i
Slide 27: For Further Queries
FOR FURTHER QUERIES: Mr. Harshil Dalal Group CFO Email: harshil.dalal@dishmangroup.com Mr. Nachiket Kale / Chintan Mehta IR Consultants Contact: +91 9920940808 / +91 9892183389 Email:dishman@dickensonworld.com 26
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