Vijaya Diagnostic Centre Ltd. · NSE:VIJAYA
Vijaya Diagnostic Centre — Q2 FY2024 Earnings Presentation
43 slides from Vijaya Diagnostic Centre's earnings presentation, Nov 7, 2023
Slide 1: Cover letter to stock exchanges
November 07, 2023 To, To, Listing Department The Corporate Relations Department National Stock Exchange Of India Limited, BSE Limited, Exchange Plaza, Phiroz Jeejeebhoy Towers, Bandra Kurla Complex, 25th floor, Dalal Street, Bandra (East), Mumbai- 400 051 Mumbai - 400 001 NSE Symbol. VIJAYA BSE Scri
Slide 2: Q2 & H1FY24 Earnings Presentation
Q2 & H1FY24 Earnings Presentation, November 07 2023
Slide 3: Safe Harbour
Safe Harbour This presentation and the accompanying slides (the “Presentation”), which have been prepared by Vijaya Diagnostic Centre Limited (the ‘Company’), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for
Slide 4: Disclaimer
Disclaimer Disclaimer "With effect from 01 January 2023, the Company has changed its method of depreciation on all Property, Plant and Equipment from Written Down Value (“WDV") method to Straight Line Method (“SLM"), based upon the technical assessment of expected pattern of consumption of the futur
Slide 5: Q2 FY24 Performance Snapshot (Y-o-Y & Q-o-Q)
Q2 FY24 – Performance Snapshot (Y-o-Y & Q-o-Q) Q2 FY24 Q2 FY23 YoY % Q1 FY24 QoQ % Revenue 1,389 1,207 15% 1,210 15% GR % Non Covid 1,387 1,172 18% 1,206 15% Revenue1 EBIDTA 574 487 18% 481 19% EBIDTA Margin 41.3% 40.4% 90 BPs 39.8% 150 BPs Total tests 3.03 2.62 15% 2.62 15% Non-Covid Tests 3.02 2.5
Slide 6: Q2 FY24 Performance Snapshot
Q2 FY24 – Performance Snapshot Operational & Financial Highlights – Q2 FY24 3.03 Mn Tests 0.91 Mn INR 1,388.6 Mn INR 1,386.5 Mn +18.3% +17.7% Footfalls Non-COVID Non COVID Non COVID Revenue from operations Revenue test volume Revenue2 growth (YoY) growth (YoY) 123 Centres INR 573.7 Mn INR 333.2 Mn E
Slide 7: H1FY24 Performance Snapshot
H1FY24 – Performance Snapshot Operational & Financial Highlights – H1 FY24 5.65 Mn Tests 1.70 Mn INR 2,599.1 Mn INR 2,592.6 Mn +18.7% +18.9% Footfalls Non-COVID Non COVID Non COVID Revenue from operations Revenue test volume Revenue2 growth (YoY) growth (YoY) 123 Centres INR 1,054.8 Mn INR 595.3 Mn
Slide 8: Management comment
Management comment Commenting on the Q2FY24 results performance, Ms. Suprita Reddy, MD & CEO at Vijaya Diagnostic Centre Ltd. said: “It gives me great joy to announce that the robust business performance in Q2 showcases a steady 18% year-on-year non-COVID revenue growth and an impressive 15% quarter
Slide 9: Key Financial Highlights Q2 & H1FY24
Key Financial Highlights – Q2 & H1FY24 Revenue from Operations EBITDA & EBITDA Margin (%) 2,599 40.4% 39.8% 41.3% 39.4% 40.6% 2,251 1,389 1,207 1,210 1,055 886 487 481 574 Q2 FY23 Q1 FY24 Q2 FY24 H1FY23 H1FY24 Q2 FY23 Q1 FY24 Q2 FY24 H1FY23 H1FY24 17.7% 19.0% Shift YoY (%) 15.0% 15.5% PAT & PAT Marg
Slide 10: Revenue Mix Q2 & H1FY24
Revenue Mix – Q2 & H1FY24 Radiology vs. Pathology Breakdown Non-COVID & COVID Allied Breakdown Radiology Pathology Non Covid Covid 3% 0% 0% 67% 63% 64% 66% 64% 97% 100% 100% 33% 37% 36% 34% 36% Q2 FY23 Q1 FY24 Q2 FY24 H1FY23 H1FY24 Q2 FY23 Q1 FY23 Q2 FY24 Non-COVID YoY (%) 18.3% COVID YoY (%) -94.2%
Slide 11: Progress On The Path Of Strategic Expansion
Q2 FY24 – Progress On The Path Of Strategic Expansion Mahbubnagar Facility Penetrating Tier II Territory in Telangana: Unveiled a Standalone Hub Centre in Mahbubnagar – October 2023 • Maintaining momentum attuned to expansion into tier II and tier III cities within core geographies, we announce the
Slide 12: Unveiling Facility At Mahbubnagar
Pioneering Precision Diagnostics: Unveiling Facility At Mahbubnagar 11
Slide 13: Open MRI at Ameerpet
PATIENT CENTRICITY REDEFINED – OPEN MRI AT AMEERPET In line with our customer-oriented model of business and our single-minded focus towards achieving a holistic customer experience at all times, we have introduced an Open MRI at our center at Ameerpet. In addition to being the best in terms of Amee
Slide 14: Upgrade Of Hub At Vishakapatnam
Excellence Meets Enhancement – Upgrade Of Hub At Vishakapatnam Old New This quarter witnessed a comprehensive revamp of our main hub at Vishakhapatnam, after a decade long track record of stellar Vishakhapatnam, business performance. A significant upgrade to this advanced stand-alone hub was the int
Slide 15: Financial and Operational Discussions (Y-o-Y)
Q2 & H1FY24 - Financial and Operational Discussions (Y-o-Y) • Revenue from operations increased by 15.0% YoY to Rs. 1,388.6 Mn. Non-Covid revenue witnessed an 18.3% YoY growth o Non-Covid revenue growth was essentially volume driven. Furthermore, the up- trend both in radiology and pathology segment
Slide 16: Key Operational Highlights
Key Operational Highlights Tests Performed (# in Million) Footfalls (# in Million) Tests / Footfalls (# in Million) 5.65 1.70 3.34 3.32 3.33 4.86 1.60 3.03 0.91 3.09 2.63 2.62 0.85 0.79 3.04 Q2 FY23 Q1 FY24 Q2 FY24 H1FY23 H1FY24 Q2 FY23 Q1 FY24 Q2 FY24 H1FY23 H1FY24 Q2 FY23 Q1 FY24 Q2 FY24 H1FY23 H1
Slide 17: Consolidated Profit & Loss Account Q2 & H1FY24
Consolidated Profit & Loss Account – Q2 & H1FY24 Particulars Q2 FY24 Q2 FY23 Y-o-Y Q1 FY24 Q-o-Q H1 FY24 H1 FY23 Y-o-Y Revenue from operations 1,388.6 1,207.5 15.0% 1,210.50 14.7% 2,599.1 2,251.1 15.0% Cost of materials consumed 163.5 166.5 -1.8% 142.9 14.4% 306.4 296.9 3.0% Employee benefits expens
Slide 18: Company Overview
VIJAYA DIAGNOSTIC CENTRE Company Overview
Slide 19: Vijaya at a Glance
Vijaya at a Glance Vijaya Diagnostic Centre Limited is the largest integrated diagnostic chain in South India with 123 state-of-the-art centres spread across 20 cities 40+ 123 Mission Years of Experience Centres Quality Experience in delivering Quality Our Mission is to make the patient’s medical Di
Slide 20: Our Journey
Our Journey Awarded one of the Best Healthcare Brands 2022 by The Economic Times Awarded Brand of the year One of the earliest in diagnostic services by The Won the Healthcare Leadership private diagnostic Vijaya Diagnostic Centre Recognized as one of the CEO Magazine and Awards 2022 service provide
Slide 21: At the Forefront of Introducing New Technologies
At the Forefront of Introducing New Technologies Ultrasound & Nuclear Medicine Fourth Generation 1981 Echocardiography 1986 1993 CT Scan 1994 Mammography facility Hawkeye Gamma Automated Microbiology Real Time RT-PCR Assays 2006 2003 Culture 2000 1999 Bone Densitometry Camera with SPECT & Flow Cytom
Slide 22: Our Pillars of Strength
Our Pillars of Strength 1 One of the leading players in India’s high growth diagnostics market 2 Integrated diagnostics provider offering one-stop solution 3 High brand recall driving customer stickiness 4 Robust technical capabilities and state-of-the-art technology 5 Experienced Board and strong m
Slide 23: One-Stop Solutions for Pathology & Radiology
…offering One-Stop Solutions for Pathology & Radiology Complete Range of Diagnostic Services under One Roof Comprehensive and high quality integrated diagnostic services through our operational network 22
Slide 24: High brand recall driving customer stickiness
High brand recall driving customer stickiness Customer Centric Approach Quality Diagnostic Services B2C Revenue 95% 95% 94% 93% 92% 90% Higher brand recall FY19 FY20 FY21 FY22 FY23 H1FY24 High share of walk-in customers Operational Metrics Sticky individual customer (INR) 1,431 1,446 1,532 1,228 1,2
Slide 25: Robust Technical Capabilities with State-of-the-art IT Infrastructure
Robust Technical Capabilities with State-of-the-art IT Infrastructure 24 8 Advanced Software to Manage Clinical Data CT Machines PET CT / Gamma machines 25 250+ MRI Machines Fully Integrated Radiology Radiologists, Lab Doctors & Advance Laboratory Information Systems (RIS) and Physicians Information
Slide 26: Doctors connect program
Doctors connect program Vijaya Diagnostic Centre, in association Vijaya Diagnostic Centre organized a Vijaya Diagnostic Centre organized a with Nellore Orthopaedic Association, continuing medical education on continuing medical education on organized a continuing medical radiology Services in Nellor
Slide 27: Doctors connect program
Doctors connect program Vijaya Diagnostic Centre organized session ‘O’ Vijaya Diagnostic Centre organized session Vijaya Diagnostic Centre organized session on RAD – Structural Reporting of Ovarian – Adnexal on session on Spondyloarthropathy – Clinico "PET CT for General physicians" on 2nd August Ma
Slide 28: Experienced Board of Directors
Experienced Board of Directors Dr. S Surendranath Reddy – Founder and Executive Chairman Dr. D Nageshwar Reddy - Non-executive, Independent Director ▪ Founder of Vijaya with 40+ years of experience in building Vijaya as South India’s largest integrated diagnostic chain ▪ Chairman of Asian Institute
Slide 29: Strong Management Team
Strong Management Team Dr. S. Surendranath Reddy Ms. Suprita Reddy Mr. Sunil Chandra Kondapally Mr. Narasimha Raju K.A Founder and Executive Managing Director and Chief Executive Director Chief Financial Officer Chairman Executive Officer Mr. Sheshadri Vasan Mr. Sivaramaraju Vegesna Mr. Hansraj Sing
Slide 30: Awards & Accolades
Awards & Accolades Excellence In Comprehensive Excellence In Comprehensive As one of the ‘Most Preferred Most Trusted Brand of the Best Healthcare Brands Best Healthcare Brands 2022 Diagnostic Care Diagnostic Care Workplace 2022’ Year 2023 2023 2023 2023 2022 - 23 2023 2022 ABP Ananda The Economic A
Slide 31: Shareholding Pattern as of 30th September 2023
Shareholding Pattern as of 30th September 2023 Marquee Institutional Investors Wasatch Advisors Nippon Life India Aberdeen Standard Investments ICICI MF Axis MF DSP Healthcare Fund Mirae MF Verdipapirfondet Odin Emerging Markets As on 30th September 2023 DII’s: Mutual Funds, AIF’s and QIB’s Others:
Slide 32: Strategy Going Forward
VIJAYA DIAGNOSTIC CENTRE Strategy Going Forward
Slide 33: Deepen Footprint in our Core Markets - Telangana & Andhra Pradesh
Deepen Footprint in our Core Markets - Telangana & Andhra Pradesh Leveraging Existing Presence Given under-penetration of diagnostic market, we will continue to focus on Opening additional diagnostic centres through owned model Mancherial Nizamabad Karimnagar Expanding network through setting up spo
Slide 34: Expand in Adjacent Geographies & East India
Expand in Adjacent Geographies & East India Network (Q2 FY24) East India Strategy ◼ Expand presence in East India given growing demand ◼ Replicate our successful hub and spokes model in East India ◼ Established a hub in Kolkata and plan is to set up additional diagnostic centres South India Strategy
Slide 35: Financial & Operational Highlights
Financial & Operational Highlights
Slide 36: Robust Operational Metrics
Robust Operational Metrics Diagnostic Centre (Nos) Footfalls (Mn) Tests Performed (Mn) 121 3.62 3.18 10.05 9.32 95 2.79 2.63 7.91 80 2.38 6.99 7.09 73 61 FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21 FY22 FY23 Test per Footfall (Nos) Revenue per Test (INR) Revenue per Footfall (IN
Slide 37: Consistent Financial Performance
Consistent Financial Performance Revenue EBIDTA PAT CAGR:12% CAGR:14% CAGR:17% 4,624 4,592 3,767 2,037 3,388 1,660 1,820 1,097 2,926 1,326 845 846 1,081 625 459 FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21 FY22 FY23 EBIDTA Margin (%) PAT Margin (%) 260 bps 270 bps 44.1% 44.1% 22.
Slide 38: Sustainable Cash Generation & Increasing Return Ratios
Sustainable Cash Generation & Increasing Return Ratios Cash & Cash Equivalents CFO / EBIDTA (%) (INR Mn) 2,466 2,554 90% 2,277 1,729 84% 1,215 80% 78% 77% FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21 FY22 FY23 RoCE Pre-Cash (%) RoE 1 (%) 22% 23% 23% 23% 43% 38% 33% 16% 30% 25% FY19 FY20 FY21 FY22 FY23 FY
Slide 39: Annexure
VIJAYA DIAGNOSTIC CENTRE Annexure
Slide 40: Consolidated Profit & Loss Account
Consolidated Profit & Loss Account Particulars FY23 FY22 FY21 FY20 FY19 Revenue from operations 4,592 4,624 3,767 3,388 2,926 Cost of materials consumed 589 715 571 439 405 Employee benefits expense 785 707 574 624 539 Other expenses 1,398 1,165 962 999 901 EBITDA 1,820 2,037 1,660 1,326 1,081 EBITD
Slide 41: Consolidated Balance Sheet
Consolidated Balance Sheet Assets Mar-23 Mar-22 Mar-21 Mar-20 Mar-19 EQUITY AND LIABILITIES Mar-23 Mar-22 Mar-21 Mar-20 Mar-19 NON-CURRENT ASSETS 5,777 4,436 3,022 2,959 2,689 EQUITY 5,466 4,695 3,592 2,741 2,069 Property, plant and equipment 2,940 1,966 1,358 1,398 1,437 Equity share capital 102 10
Slide 42: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement Particulars Mar-23 Mar-22 Mar-21 Mar-20 Mar-19 Cash Flow from Operating Activities Profit before Tax 1,135 1,474 1,121 834 653 Adjustment for Non-Operating Items 683 572 534 492 431 Operating Profit before Working Capital Changes 1,818 2,046 1,655 1,326 1,084 Changes
Slide 43: Thank You
Thank You For further information please contact: Mr. Siva Rama Raju Head – Strategy & Investor Relations +91 99485 95555 sivaramaraju.v@vijayadiagnostic.in ir@vijayadiagnostic.in www.vijayadiagnostic.com Corporate Office : #6-3-883/F, FPA Building, Near Topaz Building, Punjagutta, Hyderabad-500082,
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