Dishman Carbogen Amcis Ltd. · NSE:DCAL
Dishman Carbogen Amcis — Q4 FY19 Earnings Presentation
27 slides from Dishman Carbogen Amcis's earnings presentation, May 16, 2019
Slide 1: Stock exchange covering letter
dish man 16th May, 2019 To, To, Department of Corporate Services The Manager, B SE Ltd. Listing Department, Phiroze Jeejeebhoy Towers, N ational Stock Exchange of India Ltd. Dalal Street, "Exchange Plaza", C-1, Block G, Mumbai - 400 001. Bandra-Kurla Complex, Bandra (E), Mumbai - 400 051. Ref.: Scri
Slide 2: Q4 & FY19 Results Update
DISHMAN CARBOGEN AMCIS LIMITED Q4 & FY19 RESULTS UPDATE MAY 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 ❖ Q4 & FY19 RESULTS UPDATE ❖ COMPANY OVERVIEW ❖ INDUSTRY OVERVIEW 3
Slide 5: Q4 & FY19 Results Update
Q4 & FY19 RESULTS UPDATE 4
Slide 6: Q4 FY19 Key Highlights
Q4 FY19 KEY HIGHLIGHTS In Rs Mn REVENUES EBITDA * & EBITDA MARGIN 6,497 26.8% 26.1% 4,515 1,694 1,211 43.9% Q4 FY18 Q4 FY19 Q4 FY18 Q4 FY19 ADJUSTED PBT # & PBT MARGIN CASH PAT @ & CASH EPS 21.5% 19.7% 8.6 6.0 1,280 1,382 970 963 Q4 FY18 Q4 FY19 Q4 FY18 Q4 FY19 * EBITDA excluding other income @ Cash
Slide 7: FY19 Key Highlights
FY19 KEY HIGHLIGHTS In Rs Mn REVENUES EBITDA * & EBITDA MARGIN 26.3% 26.8% 20,586 16,948 4,454 5,519 21.5% FY18 FY19 FY18 FY19 ADJUSTED PBT # & PBT MARGIN CASH PAT @ & CASH EPS 18.8% 19.3% 26.6 21.5 3,973 4,300 3,193 3,464 FY18 FY19 FY18 FY19 * EBITDA excluding other income @ Cash PAT = Adjusted PAT
Slide 8: Consolidated P&L Statement
CONSOLIDATED P&L STATEMENT Particulars (Rs. Mn.) Q4 FY19 Q4 FY18 YoY % Q3 FY19 QoQ % FY19 FY18 YoY % Revenues from Operations 6,114.2 4,525.5 35.1% 4,273.9 43.1% 19,199.4 16,527.1 16.2% Other Operating Income 383.0 -10.6 - 515.5 -25.7% 1,386.6 420.8 229.5% Total Revenues 6,497.2 4,514.9 43.9% 4,789.
Slide 9: Consolidated Balance Sheet
CONSOLIDATED BALANCE SHEET Particulars (Rs. Mn.) Mar-19 Mar-18 Particulars (Rs. Mn.) Mar-19 Mar-18 Shareholder Funds Non-Current Assets Equity Share Capital 322.8 322.8 Property, plant and equipment 15,330.3 15,033.3 Other Equity 53,468.1 50,750.5 Capital Work in Progress 1,433.3 1,190.0 Goodwill 34
Slide 10: Q4 & FY19 Segment-wise Revenue Analysis
Q4 & FY19 SEGMENT-WISE REVENUE ANALYSIS In Rs Mn Revenue From Operations – Breakup Q4 FY19 Q4 FY18 YoY% FY19 FY18 YoY% CRAMS CRAMS – India 1,305.0 876.3 48.9% 3,405.8 2,287.3 48.9% CRAMS – CAAG+RIOM* 3,131.2 2,384.8 31.3% 10,396.2 9,733.3 6.8% CRAMS – UK 283.0 115.2 145.7% 905.5 495.5 82.7% CRAMS To
Slide 11: FY19 Segment-wise Revenue Break-up
FY19 SEGMENT-WISE REVENUE BREAK-UP Revenue From Operations – FY19 Revenue From Operations – FY18 CRAMS – 76.6% Marketable Molecules – 23.4% CRAMS – 75.7% Marketable Molecules – 24.3% 5% 3% 9% 12% 54% 59% 23% 24% 14% 12% 18% 14% CRAMS - India CRAMS - CAAG+RIOM* CRAMS - UK CRAMS - India CRAMS - CAAG+R
Slide 12: Q4 & FY19 Segment-wise Margin Analysis
Q4 & FY19 SEGMENT-WISE MARGIN ANALYSIS EBITDA Margin % – Segment wise Q4 FY19 Q4 FY18 FY19 FY18 CRAMS CRAMS – India 55.1% 55.0% 57.1% 54.1% CRAMS – CAAG+RIOM* 18.3% 19.3% 19.8% 20.2% CRAMS – UK 19.6% 18.1% 24.1% 23.4% Marketable Molecules Carbogen Amcis BV** 36.5% 36.9% 40.9% 38.2% Others# 10.2% 10.
Slide 13: Q4 FY19 Result Highlights
Q4 FY19 RESULT HIGHLIGHTS ❑ Total Revenues – Q4 FY19 Rs 6,497.2 mn (+43.9% YoY) ❖ Total CRAMS revenues in Q4 FY19 increased by 39.8% YoY to Rs 4,719.2 mn driven by growth across all regions ❖ CRAMS India revenues grew by 48.9% YoY driven by strong inflow of commercial orders ❖ CRAMS Carbogen Amcis A
Slide 14: Improving Margin Profile Across Key Segments
IMPROVING MARGIN PROFILE ACROSS KEY SEGMENTS Segment-Wise EBITDA Margin Trend 56.2% 57.1% 54.1% 50.1% 38.2% 40.9% 33.2% 29.8% 21.3% 20.2% 19.8% 18.6% FY16 FY17 FY18 FY19 CRAMS - India CRAMS - CAAG + RIOM Carbogen Amcis BV 13
Slide 15: Company Overview
COMPANY OVERVIEW 14
Slide 16: 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 17: 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 18: 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 19: 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 20: 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 21: 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 22: Shareholding Structure
SHAREHOLDING STRUCTURE Share Price Performance Market Data As on 15 May 2019 (BSE) 375 Market capitalization (Rs Mn) 35,515 300 Price (Rs.) 220.1 225 No. of shares outstanding (Mn) 161.4 150 Face Value (Rs.) 2.0 52 week High-Low (Rs.) 364.9 – 180.4 % Shareholding as on 31 Mar 2019 Key Institutional
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 Senior Vice President – Accounts & Finance Email: harshil.dalal@dishmangroup.com Mr. Nilesh Dalvi IR Consultant Contact: +91 9819289131 Email: nilesh.dalvi@dickensonir.com 26
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