Dishman Carbogen Amcis Ltd. · NSE:DCAL
Dishman Carbogen Amcis — H1 FY19 Earnings Presentation
26 slides from Dishman Carbogen Amcis's earnings presentation, Nov 2, 2018
Slide 1: Exchange filing cover letter
dish man 2nd November, 2018 To, To, Department of Corporate Services The Manager, Bombay Stock Exchange 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 -
Slide 2: Q2 & H1 FY19 Results Update
DISHMAN CARBOGEN AMCIS LIMITED Q2 & H1 FY19 RESULTS UPDATE NOVEMBER 2018 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 & H1 FY19 RESULTS UPDATE ❖ INDUSTRY OVERVIEW ❖ COMPANY OVERVIEW 3
Slide 5: Q2 & H1 FY19 Results Update
Q2 & H1 FY19 RESULTS UPDATE 4
Slide 6: H1 FY19 Result Highlights
H1 FY19 RESULT HIGHLIGHTS In Rs Mn REVENUES EBITDA & EBITDA MARGIN * 9,299 25.9% 26.9% 7,835 2,030 2,498 18.7% H1 FY18 H1 FY19 H1 FY18 H1 FY19 ADJUSTED PBT # & PBT MARGIN CASH PAT @ & CASH EPS 16.9% 18.6% 11.7 9.6 1,731 1,886 1,321 1,542 H1 FY18 H1 FY19 H1 FY18 H1 FY19 * EBITDA excluding other incom
Slide 7: Q2 FY19 Result Highlights
Q2 FY19 RESULT HIGHLIGHTS In Rs Mn REVENUES EBITDA & EBITDA MARGIN * 30.0% 28.7% 4,438 4,477 1,330 1,286 1.0% Q2 FY18 Q2 FY19 Q2 FY18 Q2 FY19 ADJUSTED PBT # & PBT MARGIN CASH PAT @ & CASH EPS 21.7% 20.8% 6.2 6.2 962 930 998 1,005 Q2 FY18 Q2 FY19 Q2 FY18 Q2 FY19 * EBITDA excluding other income @ Cash
Slide 8: Consolidated P&L Statement
CONSOLIDATED P&L STATEMENT Particulars (Rs. Mn.) Q2 FY19 Q2 FY18 YoY % Q1 FY19 QoQ % H1 FY19 H1 FY18 YoY % Revenue from Operations 4,324.1 4,307.9 0.4% 4,487.3 -3.6% 8,811.3 7,692.5 14.5% Other Operating Income 153.0 130.5 17.2% 335.1 -54.3% 488.1 142.3 243.0% Total Revenues 4,477.1 4,438.4 0.9% 4,8
Slide 9: Consolidated Balance Sheet
CONSOLIDATED BALANCE SHEET Particulars (Rs. Mn.) SEP-18 MAR-18 Particulars (Rs. Mn) SEP-18 MAR-18 EQUITIES & LIABILITIES ASSETS Non-Current Assets Shareholder Funds Property, plant and equipment 14,957 15,033 Equity Share Capital 323 323 Capital Work in Progress 2,011 1,190 Other Equity 53,067 50,75
Slide 10: Q2 & H1 FY19 Segment-wise Revenue Analysis
Q2 & H1 FY19 SEGMENT-WISE REVENUE ANALYSIS In Rs Mn Revenues – Segment wise Breakup Q2 FY19 Q2 FY18 YoY% H1 FY19 H1 FY18 YoY% CRAMS (% of Total) 75.7% 78.1% 75.5% 75.9% CRAMS – India 737.6 650.5 13.4% 1,335.8 977.8 36.6% CRAMS – CAAG+RIOM* 2,253.1 2,601.5 -13.4% 4,896.6 4,665.9 4.9% CRAMS – UK 284.0
Slide 11: Q2 & H1 FY19 Segment-wise Margin Analysis
Q2 & H1 FY19 SEGMENT-WISE MARGIN ANALYSIS EBITDA Margin % – Segment wise Q2 FY19 Q2 FY18 H1 FY19 H1 FY18 CRAMS CRAMS – India 59.0% 57.8% 57.5% 56.1% CRAMS – CAAG+RIOM* 22.0% 22.5% 20.4% 20.1% CRAMS – UK 26.8% 28.1% 23.1% 21.1% Marketable Molecules Carbogen Amcis BV** 41.7% 40.2% 43.5% 37.5% Others#
Slide 12: Q2 & H1 FY19 Result Highlights
Q2 & H1 FY19 RESULT HIGHLIGHTS ❑ Revenues in Q2 FY 2019 grew by 1% YoY to Rs 4,477.1 mn. Revenues in H1 FY 2019 grew by 18.7% YoY to Rs 9,299.4 mn. • CRAMS revenues in Q2 FY 2019 declined by 2.7% YoY to Rs 3,274.7 mn due to higher execution of orders at Carbogen Amcis in Q1 FY 2019. CRAMS registered
Slide 13: Industry Overview
INDUSTRY OVERVIEW 12
Slide 14: 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 15: 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 16: 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 17: Company Overview
COMPANY OVERVIEW 16
Slide 18: 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 16,948 Mn, Rs 4
Slide 19: Recent Corporate Restructuring
RECENT 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 Pha
Slide 20: 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 21: 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 22: Strong Chemistry Skills & Global Presence
STRONG CHEMISTRY SKILLS & GLOBAL PRESENCE 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 facilities at Bav
Slide 23: 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 24: Business Strategy & Outlook
BUSINESS STRATEGY & OUTLOOK Favorable Revenue-Mix Higher Asset Turnover with Efficient Capacity Utilization • Carbogen Amcis Mix: ~65% from Contract Research and ~35% from • Consistent addition of small and mid-sized companies in Contract Manufacturing. development pipeline. • Dishman India Mix: ~80
Slide 25: Shareholding Structure
SHAREHOLDING STRUCTURE Share Price Performance Market Data As on 01 Nov 2018 (BSE) 375.0 Market capitalization (Rs Mn) 37,050 300.0 Price (Rs.) 229.6 225.0 No. of shares outstanding (Mn) 161.4 150.0 Face Value (Rs.) 2.0 Sep-18 Jan-18 Feb-18 Dec-17 May-18 Oct-18 Apr-18 Jun-18 Jul-18 Aug-18 Nov-17 Mar
Slide 26: For Further Queries
FOR FURTHER QUERIES: Mr. Harshil Dalal Senior Vice President – Accounts & Finance Email: harshil.dalal@dishmangroup.com Mr. Arun Prakash / Nilesh Dalvi IR Consultants Contact: +91 9920993892 / +91 9819289131 Email: arun.prakash@dickensonir.com nilesh.dalvi@dickensonir.com 25
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