Slide 1: Financial Results Quarter Ended December 31, 2014
Financial Results Quarter Ended December 31, 2014
Slide 2: Disclaimer
Disclaimer Statements in this document relating to future status, events, or circumstances, including but not limited to statements about plans and objectives, the progress and results of research and development, potential product characteristics and uses, product sales potential and target dates f
Slide 3: Conference Call Details
Conference Call Details Date : Tuesday, February 03, 2015 Time : 5:00 pm IST Primary Number: +91 22 3938 1071 Secondary Number: +91 22 6746 8354 6000 1221 Available in – Ahmedabad, Bengaluru, Chennai, Cochin, Delhi, Gurgaon, Hyderabad, Kolkata, Noida. Accessible from all major carriers except BSNL/M
Slide 4: Q3'15 Results Analysis
JUBHANT LIFESCIENCES Q3’15 Results Analysis
Slide 5: Key Business Segments – Q3'FY15
Key Business Segments – Q3’FY15 Jubilant Life Sciences Pharmaceuticals Life Science Ingredients (48%) (52%) Generics Active Pharmaceutical Ingredients Advanced Intermediates Solid Dosage Formulations and Specialty Ingredients Specialty Pharmaceuticals (Sterile Products) Radiopharmaceutical
Slide 6: Income Statement – Q3'FY15
Income Statement – Q3’FY15 Particulars Q3'FY14 Q2'FY15 Q3'FY15 YoY Growth QoQ Growth (Rs Crs) (%) Total Income from Operations 1,444 1,371 1,445 0% 5% Total Expenditure 1,193 1,260 1,260 Other Income 4 26 6 EBITDA including Other Income 255 137 191 -25% 39% Depreciation 73 69 80 Finance Cost 65 74 8
Slide 7: Financial Highlights – Q3'FY15
Financial Highlights – Q3’FY15 • Income from Operations at Rs. 1,445 Crore • Flat YoY growth with QoQ growth of 5% • Growth in Pharmaceuticals segment revenues has been offset by lower revenues in Life Science Ingredients segment • Geographical growth in India and ROW markets offset by lower sales i
Slide 8: Segmental Revenue Analysis – Q3'FY15
Segmental Revenue Analysis – Q3’FY15 Revenue (Rs. Crs.) Revenue YoY Growth QoQ Growth Segmental Revenue Analysis Q3'FY14 Q2'FY15 Q3'FY15 Mix (%) % % Pharmaceuticals 677 614 701 48% 4% 14% Life Science Ingredients 767 757 744 52% -3% -2% Income from Operations 1,444 1,371 1,445 100% 0% 5% Inter Divis
Slide 9: Business Highlights – Q3'FY15
Business Highlights – Q3’FY 15 Generics Active Pharmaceutical Ingredients • Volume buoyancy and realizing benefits of cost rationalization efforts • 37 commercial APIs, including 19 in North America, 24 in Europe and 26 in ROW • Launched Aripiprazole in US. • 4 filings during the quarter – 1 in Japa
Slide 10: Business Highlights – Q3'FY15
Business Highlights – Q3’FY 15 Specialty Pharmaceuticals (Sterile Products) Radiopharmaceuticals • Strategic initiatives help improvement in performance and successful scale up of the business • Leadership positions in key products • Strategic initiatives and Rubyfill launch to drive growth going fo
Slide 11: Business Highlights – Q3'FY15
Business Highlights – Q3’FY 15 Advanced Intermediates, Specialty Ingredients and Nutritional Products • Advanced Intermediates business grew 11% QoQ despite subdued demand and soft pricing in Chinese market; Specialty Ingredients too grew 11% QoQ • Fine Ingredients and Nutritional Products record he
Slide 12: Revenue Analysis – Geography wise – Q3'FY15
Revenue Analysis – Geography wise – Q3’FY15 Geo-wise Revenue (Rs crs) Q3'FY14 Q2'FY15 Q3'FY15 Mix % YoY % ROW India 350 416 409 28% 17% 8.3% China International 1,095 955 1,037 72% -5% 4.5% India USA & Canada 567 513 567 39% 0% 28.3% Europe & Japan 324 277 283 20% -13% Europe & Japan China 113 72 65
Slide 13: Operating Expenditure Analysis – Q3'FY15
Operating Expenditure Analysis – Q3’FY15 % of % of % of YoY QoQ Expenses (Rs Crs) Q3 FY14 Q2 FY15 Q3 FY15 Sales Sales Sales Growth % Growth % Material Cost 595 41% 606 44% 623 43% 5% 3% Power & Fuel 99 7% 100 7% 99 7% 0% -1% Cost Employee Cost 281 19% 271 20% 272 19% -3% 0% Other Expenses 218 15% 28
Slide 14: EBITDA Analysis – Q3'FY15
EBITDA Analysis – Q3’FY15 EBITDA (Rs. Crs) Business Segments Q3'FY14 Q2'FY15 Q3'FY15 YoY Growth % QoQ Growth % Pharmaceuticals 151 69 140 -8% 102% Life Science Ingredients 118 62 61 -48% -1% Less: Corp Expenses -14 6 -10 Reported EBITDA 255 137 191 -25% 39% Margins (%) YoY Variance (Bps) QoQ Varianc
Slide 15: Exceptional Items – Q3'FY15
Exceptional Items – Q3’FY15 Total exceptional items for Q3’FY15 – Rs. (0.2) Crore • Unrealized Mark to Market book loss - Rs. (14) Crore mainly on account of • Currency movement of USD, from Rs. 61.75 as on September 30, 2014 to Rs. 63.03 as on December 31, 2014, with respect to Rupee Loan of Rs. 70
Slide 16: Corporate Actions
Corporate Actions • Tender Offer for acquisition of minority shares of Cadista Holdings Inc. • Jubilant Generics Inc., an indirect wholly-owned subsidiary of Jubilant Life Sciences Limited successfully completed Tender Offer for all of the outstanding shares of Cadista Holdings Inc. common stock not
Slide 17: Nine Monthly Results Analysis
Nine Monthly Results Analysis 16 16
Slide 18: Income Statement – 9M'FY15
Income Statement – 9M’FY15 Particulars 9M FY14 9M FY15 YoY Growth (Rs Crs) (%) Total Income from Operations 4,241 4,290 1% Total Expenditure 3,479 3,848 Other Income 14 37 EBITDA including Other Income 776 478 -38% Depreciation 213 222 Finance Cost 197 223 Interest Swap Cost 52 47 Profit after Inter
Slide 19: Financial Highlights – 9M'FY15
Financial Highlights – 9M’FY15 • Income from Operations at Rs. 4,290 Crore • Operations grew 1% YoY (8% YoY excluding CMO) • Indian markets grew 16% YoY to Rs 1,248 Crore; International markets contribute 71% to the overall revenues • Growth driven by revenue increases in Radiopharmaceuticals and st
Slide 20: Segmental Revenue Analysis – 9M'FY15
Segmental Revenue Analysis – 9M’FY15 Revenue (Rs. Crs.) Segmental Revenue Analysis Revenue Mix (%) YoY Growth % 9M'FY14 9M'FY15 Pharmaceuticals 2,023 1,919 45% -5% Life Science Ingredients 2,218 2,370 55% 7% Income from Operations 4,241 4,290 100% 1% Inter Divisional Sales (IDTs) 440 371 -16% IDT as
Slide 21: Revenue Analysis – Geography wise – 9M'FY15
Revenue Analysis – Geography wise – 9M’FY15 Geo-wise Revenue (Rs crs) 9M'FY14 9M'FY15 Mix % YoY % ROW, 7.0% China, 6.6% India 1,074 1,248 29% 16% International 3,167 3,042 71% -4% USA & Canada 1,650 1,570 37% -5% India, 29.1% Europe & Europe & Japan 904 891 21% -1% Japan, 20.8% China 347 281 7% -19%
Slide 22: Operating Expenditure Analysis – 9M'FY15
Operating Expenditure Analysis – 9M’FY15 Expenses (Rs Crs) 9M'FY14 % of Sales 9M'FY15 % of Sales YoY Growth % Material Cost 1,747 41% 1,948 45% 11% Power & Fuel Cost 293 7% 298 7% 2% Employee Cost 821 19% 815 19% -1% Other Expenses 617 15% 787 18% 27% Total expenses 3,479 82% 3,848 90% 11% • Materia
Slide 23: EBITDA Analysis – 9M'FY15
EBITDA Analysis – 9M’FY15 EBITDA (Rs. Crs) Business Segments 9M'FY14 9M'FY15 YoY Growth % Pharmaceuticals 478 245 -49% Life Science Ingredients 352 256 -27% Less: Corp Expenses -54 -22 Reported EBITDA 776 478 -38% EBITDA Margins (%) YoY Variance (Bps) Pharmaceuticals 23.6% 12.7% -1087 Life Science I
Slide 24: Exceptional Items – 9M'FY15
Exceptional Items – 9M’FY15 Total exceptional items for 9M’FY15 at Rs (14) Crore • Unrealized Mark to Market book loss Rs (33) Crore on account of • Currency movement of USD, from Rs 59.91 as on March 31, 2014 to Rs 63.03 as on December 31, 2014, with respect to Rupee Loan of Rs 700 Crore swapped in
Slide 25: Debt Profile
Debt Profile Particulars 31-Dec-13 30-Sep-14 31-Dec-14 Foreign Currency Loans ($ Mn) ($ Mn) ($ Mn) Standalone 219 130 95 Swapped loan in Standalone 202 156 156 Subsidiaries 172 302 361 Total 593 587 611 Rupee Loans (Rs. Crs) (Rs. Crs) (Rs. Crs) Standalone 432 413 334 Subsidiaries 0 453 523 Total 432
Slide 26: Outlook
Outlook Expect to deliver continued improvement and stable performance in our business • Pharmaceuticals segment expected to drive growth on account of: • Market leadership position in Radiopharmaceuticals • Normalization of CMO business • Growth in Generics from entry into new markets and launch of
Slide 27: For more information
For more information For Investors: Ravi Agrawal Siddharth Rangnekar Jubilant Life Sciences Limited CDR India Ph: +91-120-436 1002 Ph: +91-22-6645 1209 E-mail: ravi_agrawal@jubl.com E-mail: siddharth@cdr-india.com Anupam Jain Karl Kolah Jubilant Life Sciences Limited CDR India Ph: +91-120-436 1021 P