Ajanta Pharma Limited · NSE:AJANTPHARM
Ajanta Pharma — Q3 FY2020 Earnings Presentation
30 slides from Ajanta Pharma's earnings presentation, Feb 5, 2020
Slide 1: Exchange filing cover letter: Presentation on Results
@ aianta pharma limited Ajanta House, Charkop, Kandivli West, Mumbai 400 067 T +91 22 6606 1000 F E +91 22 6606 1200 info@alantapharma.com India w www.ajantapharma.com 5s February 2020 BSE LIMITED National Stock Exchange of India, Phiroze Jeejeebhoy Towers Exchange Plaza, 5s Floor, Plot no. Dalal St
Slide 2: Investor Presentation Q3 FY 2020
INVESTOR PRESENTATION Q3 FY 2020 5th February 2020
Slide 3: Content
Content 1. India Business 2. Global Business 3. Infrastructure 4. Financial Highlights 5th February 2020 2 of 29
Slide 4: India Business
1. INDIA BUSINESS 5th February 2020 3 of 29
Slide 5: India Branded Generics
INDIA BRANDED GENERICS Continue to Focus on 4 Therapeutic Segments 15 3,000+ Divisions MRs Cardiology Dermatology Continue to be major Growth continues contributor for 4 segments Building Efficiency Ophthalmology Pain Management 1st 2nd largest in India & still Sustained growth 270+ growing above in
Slide 6: IPM - Ranking
IPM - RANKING Mar 2005 Dec 2018 Dec 2019 Ophthalmology 28 3 2 98 13 14 Dermatology 38 17 16 Cardiology NA 41 39 Pain Mgmt. 88 32 31 Ajanta Pharma 5th February 2020 Source: Iqvia, December MAT 2019 5 of 29
Slide 7: Industry Growth
INDUSTRY GROWTH March 2016 March 2017 March 2018 March 2019 December 2019 IPM Ajanta Pharma IPM Ajanta Pharma IPM Ajanta Pharma IPM Ajanta Pharma IPM Ajanta Pharma 23% 16% 16% 14% 14% 11% 10% 9% 6% 6% 5th February 2020 IPM = Indian Pharmaceutical Market Source: Iqvia, December MAT 2019 6 of 29
Slide 8: Segment Growth
SEGMENT GROWTH Pain Pharma Market Cardiology Ophthalmology Dermatology Management IPM Ajanta Pharma IPM Ajanta Pharma IPM Ajanta Pharma IPM Ajanta Pharma IPM Ajanta Pharma 17% 17% 14% 13% 12% 11% 10% 10% 9% 9% 5th February 2020 IPM = Indian Pharmaceutical Market Source: Iqvia, December MAT 2019 7 of
Slide 9: India Sales
INDIA SALES India Sales – Q3 IQVIA December MAT 2019 India Sales – 9M (Rs. cr.) (Rs. cr.) Ophthal 30% Cardio 12% 42% 12% 592 195 531 Derma Pain 23% 174 6% IQVIA December MAT 2018 Ophthal 30% Cardio 41% Derma Pain 23% 6% Q3 FY19 Q3 FY20 9M FY19 9M FY20 5th February 2020 8 of 29
Slide 10: Global Business
2. GLOBAL BUSINESS 5th February 2020 9 of 29
Slide 11: Global Presence
GLOBAL PRESENCE INDIA USA AFRICA 19 Countries 5th February 2020 REST OF ASIA 10 Countries Map not to scale, only for illustration purpose 10 of 29
Slide 12: Branded Generic Business in Emerging Markets
BRANDED GENERIC BUSINESS IN EMERGING MARKETS Africa Asia 1,000 + Product Registration 375+ New Products launched in 7 9M FY 2020 13 14 Major Markets 7 5th February 2020 11 of 29
Slide 13: USA
USA 31 23 ~10-12 Final Approvals Under Approval Filing Target 7 in 9M FY 2020 2 in Q3 FY 2020 8 in 9M FY 2020 28 Products on Gaining market Continue to focus on shelf share in select better execution for products with customer delight focused approach 5th February 2020 12 of 29
Slide 14: Export Sales – Q3 (Consolidated)
EXPORT SALES – Q3 (CONSOLIDATED) Africa Africa Asia USA Others Branded Institution (Rs. cr.) (Rs. cr.) (Rs. cr.) (Rs. cr.) (Rs. cr.) Total Exports (Rs. cr.) 30% 25% 140% (2%) (22%) 80 159 158 64 47% 121 50 49 448 66 3 2 304 Q3 FY19 Q3 FY20 Q3 FY19 Q3 FY20 Q3 FY19 Q3 FY20 Q3 FY19 Q3 FY20 Q3 FY19 Q3 F
Slide 15: Export Sales – 9M (Consolidated)
EXPORT SALES – 9M (CONSOLIDATED) Africa Africa Asia USA Others Branded Institution (Rs. cr.) (Rs. cr.) (Rs. cr.) (Rs. cr.) (Rs. cr.) Total Exports (Rs. cr.) 21% 9% 80% 37 35% 20 0% 2 2 25 465 23 4 14 2 9 385 20 32% 7 1,300 981 7 7 9M FY19 9M FY20 9M FY19 9M FY20 9M FY19 9M FY20 9M FY19 9M FY20 9M FY
Slide 16: Total Consolidated Sales – Q3
TOTAL CONSOLIDATED SALES – Q3 India Exports Total Sales (Rs. cr.) (Rs. cr.) (Rs. cr.) Rs. cr. 12% 47% 35% 643 Q3 Q3 Grth FY 2019 FY 2020 478 447 India 174 195 12% 304 Exports 304 447 47% 195 174 Total Sales 478 643 35% Q3 FY19 Q3 FY20 Q3 FY19 Q3 FY20 Q3 FY19 Q3 FY20 5th February 2020 15 of 29
Slide 17: Total Consolidated Sales – 9M
TOTAL CONSOLIDATED SALES – 9M India Exports Total Sales (Rs. cr.) (Rs. cr.) (Rs. cr.) Rs. cr. 12% 32% 25% 1,892 9M 9M Grth 1,512 FY 2019 FY 2020 1,300 India 531 592 12% 981 Exports 981 1,300 32% 592 531 Total Sales 1,512 1,892 25% 9M FY19 9M FY20 9M FY19 9M FY20 9M FY19 9M FY20 5th February 2020 16
Slide 18: Infrastructure
3. INFRASTRUCTURE 5th February 2020 17 of 29
Slide 19: Enabling Infrastructure
ENABLING INFRASTRUCTURE Formulation Manufacturing 3 facilities in Aurangabad, Maharashtra 1 facility at Dahej, Gujarat 1 facility at Guwahati, Assam New facility operationalized at Pithampur, Madhya Pradesh One facility at Mauritius API Manufacturing One Facility at Waluj, Aurangabad, Ma
Slide 20: Research & Development
RESEARCH & DEVELOPMENT R&D Spend (Excluding Capex) 6% 8% 9% 9% 6% Q3 FY 2020 9M FY 2020 185 176 Rs. 35 cr. (5%) Rs. 114 cr. (6%) 153 106 114 Q3 FY 2019 9M FY 2019 Rs. 45 cr. (9%) Rs. 136 cr. (9%) FY 2016 FY 2017 FY 2018 FY 2019 9M FY 2019 5th February 2020 19 of 29
Slide 21: Financial Highlights
4. FINANCIAL HIGHLIGHTS 5th February 2020 20 of 29
Slide 22: P&L Synopsis – Q3 FY 2020 (Consolidated)
P&L SYNOPSIS – Q3 FY 2020 (CONSOLIDATED) Q3 % to Q3 % to % Rs. cr. FY 2019 income FY 2020 income Growth Income from Operations 485 651 34% EBITDA 107 22% 186 29% 73% PBT 93 19% 175 27% 88% PAT 67 14% 108 17% 61% Total Comprehensive Income 67 14% 109 17% 64% 5th February 2020 21 of 29
Slide 23: P&L Synopsis – 9M FY 2020 (Consolidated)
P&L SYNOPSIS – 9M FY 2020 (CONSOLIDATED) 9M % to 9M % to % Rs. cr. FY 2019 income FY 2020 income Growth Income from Operations 1,540 1,906 24% EBITDA 431 28% 540 28% 25% PBT 405 26% 488 26% 20% PAT 298 19% 339 18% 14% Total Comprehensive Income 295 19% 339 18% 15% 5th February 2020 22 of 29
Slide 24: Detailed P&L – Q3 FY 2020 (Consolidated)
DETAILED P&L – Q3 FY 2020 (CONSOLIDATED) Rs. cr. Q3 FY 2019 % to IO Q3 FY 2020 % to IO Income from Operations (IO) 485 651 Other Income 5 1% 15 2% Total Income 490 666 Materials consumed 98 20% 169 26% Employee Benefit 113 23% 120 18% Finance Cost 0 0% 2 0% Depreciation 19 4% 24 4% Other Expenses 16
Slide 25: Detailed P&L – 9M FY 2020 (Consolidated)
DETAILED P&L – 9M FY 2020 (CONSOLIDATED) Rs. cr. 9M FY 2019 % to IO 9M FY 2020 % to IO Income from Operations (IO) 1,540 1,906 Other Income 20 1% 35 2% Total Income 1,560 1,941 Materials consumed 278 18% 478 25% Employee Benefit 323 21% 356 19% Finance Cost 0 0% 8 0% Depreciation 53 3% 70 4% Other E
Slide 26: Year Track Record (Consolidated)
5 YEAR TRACK RECORD (CONSOLIDATED) Consolidated Total Income (Rs. cr.) 2,500 2,155 2,026 2,076 2,000 1,771 PAT (Rs. cr.) & PAT Margin (%) 1,502 21% 24% 25% 22% 19% 1,500 600 507 1,000 469 500 416 387 500 400 310 0 300 2015 2016 2017 2018 2019 200 100 0 2015 2016 2017 2018 2019 5th February 2020 25 o
Slide 27: Year Track Record (Consolidated)
5 YEAR TRACK RECORD (CONSOLIDATED) EBITDA Margin Net Margin (%) (%) 34% 35% 30% 25% 40% 34% 24% 31% 21% 22% 28% 19% 30% 20% 20% 10% 10% 0% 0% 2015 2016 2017 2018 2019 2015 2016 2017 2018 2019 EPS ROCE (Rs.) (%) 58 60 53 47 60% 50% 44 50 44% 50% 41% 35 40 40% 30% 30 23% 30% 20 20% 10 10% 0 0% 5th Feb
Slide 28: Year Track Record (Consolidated)
5 YEAR TRACK RECORD (CONSOLIDATED) Book Value per share Receivable Days (Rs.) (Nos.) 300 255 100 83 79 81 232 250 80 65 178 61 200 135 60 150 96 40 100 20 50 0 0 2015 2016 2017 2018 2019 2015 2016 2017 2018 2019 Inventory Days Payable Days (Nos.) (Nos.) 79 80 140 123 62 70 120 98 94 60 85 100 82 40
Slide 29: Thank You
For updates and company information please visit our website: www.ajantapharma.com For specific queries, contact: Rajeev Agarwal - 022-66061377 Thank You rajeev.agarwal@ajantapharma.com Abhineet Kumar – 022-66061814 abhineet.kumar@ajantapharma.com Ajanta Pharma Limited Ajanta House, Charkop, Kandivl
Slide 30: Disclaimer
DISCLAIMER This presentation may include certain ‘forward looking statements’, based on current expectations, forecasts and assumptions within the meaning of applicable laws and regulations. They are subject to risks and uncertainties which could cause actual outcomes and results to differ materiall