Viyash Scientific Limited · NSE:VIYASH
Viyash Scientific — SeQuent Scientific — Q3 FY2019 Earnings Presentation
19 slides from Viyash Scientific's earnings presentation, Feb 1, 2019
Slide 1: Earnings Presentation Q3 & 9M FY19
Earnings Presentation Q3 & 9M FY19 FEBRUARY 1, 2019
Slide 2: Disclaimer
Disclaimer Except for the historical information contained herein, statements in this presentation and the subsequent discussions, which include words or phrases such as "will", "aim", "will likely result", "would", "believe", "may", "expect", "will continue", "anticipate", "estimate", "intend", "pl
Slide 3: Q3 & 9M FY19 Performance Review
Q3 & 9M FY19 Performance Review
Slide 4: Consistent performance
Consistent performance Revenues YoY “ This has been another quarter of consistent performance wherein our Revenue and EBITDA grew by 20% and 57% respectively, with a 310 bps margin improvement. The all-round growth was fueled by Q3’19 Q3’18 2,705 2,249 20% execution excellence across both APIs and f
Slide 5: Strong performance across businesses
Strong performance across businesses YoY% Key Highlights Revenue Distribution Q3’19 Q3’18 YoY% (Constant currency) For 9M’19 business grew 22.8% driven by healthy Formulations 1,812 1,691 7.2% 3.9% growth across formulations (+17.0% YoY) & APIs Europe 945 911 3.7% (3.6%) (+39.3% YoY) Turkey 162 268
Slide 6: Q3 & 9M FY19 Business Review
>) Sequent fae Proven Ability In Life Sciences Lo) ALIVIRA Q3 & 9M FY19 Business Review More than SeQuent Scientific Limited Pharma www.sequent.in
Slide 7: Formulations
Formulations Leading revenue 35+ 80+ 30+ 50%+ Products Under Countries with Launches Sales to regulated driver Development marketing presence markets Revenues in ₹ Mn Key Highlights – Year to Date YoY% 9M FY19 9M FY 18 (cc) Robust growth across geographies, driven by 30+ launches and improved market
Slide 8: Turkey
Turkey Key Highlights Sales in Turkey v/s Turkish Lira Movement 20 World over, regulations are being introduced for judicious use 18.3 17.1 16.9 TRY / INR 15.4 of anti-microbials in production animals 15 12.4 13.1 Turkey implemented two key initiatives – E-Prescription (ER) and Veterinary Pharmaceut
Slide 9: APIs
APIs 23 3 1.75x 50%+ Scaling the Commercial APIs Manufacturing Asset turn Incremental growth capability curve facilities from global top 10 vs FY16 Revenues in ₹ Mn YoY% Key Highlights 9M FY19 9M FY 18 (cc) Margin expansion through focus on regulated markets and high value products 2,235 1,605 29.4%
Slide 10: Robust R&D pipeline
Robust R&D pipeline APIs Cumulative Formulations Cumulative Pipeline 14 Pipeline 35 Commercialized 23 Global 25 US filed / approved 16 US only 8 EU-CEP approvals 10 EU only 2 Received CEP approval for Expanded R&D team, adept to execute Oxfendazole and Closantel 10+ projects per annum, Filed Diclazu
Slide 11: Consistent delivery
Sequent Proven Ability In Life Sciences More than Pharma Consistent delivery ALIVIRA SeQuent Scientific Limited www.sequent.in
Slide 12: Delivering consistent outcome over 11 quarters
Delivering consistent outcome over 11 quarters All values in ₹ Mn Revenue Revenue 7,574 2,352 2,517 2,705 6,167 1,943 1,700 1,975 2,090 2,249 2,003 2,328 4,887 1,097 Q1 Q2 Q3 Q4 9M ‘17 9M ‘18 9M ‘19 EBITDA EBITDA 12.7% 13.1% 12.2% 13.2% 10.6% 10.0% 9.6% 9.5% 11.2% 9.1% 924 7.6% 7.3% 5.2% 320 355 308
Slide 13: Consolidated Income Statement
Consolidated Income Statement Q3'19 Q3'19 Q2'19 Q3'18 9M’19 9M’19 9M’18 FY18 PARTICULARS Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Audited Revenue from Operations 2,705 2,703 2,517 2,249 7,574 7,572 6,167 8,494 Material Consumption (1,412) (1,437) (1,310) (1,201) (3,988)
Slide 14: Normalized post minority PAT
Normalized post minority PAT Rationale The Topkim acquisition in Turkey was funded Q1’19 Q2’19 Q3’19 through an intercompany dollar denominated debt. Any fluctuation to USD / TRY does not impact the Reported PAT profitability of the business, but has an impact on 33 152 130 (post minority) taxes and
Slide 15: Key Balance Sheet items
Key Balance Sheet items All values in ₹ Mn ROCE ROE Particulars Mar-18 Dec-18 Comments Shareholders' Fair valuation of 12.7% 11.9% 6,476 6,133 funds Strides / Solara shares Minority 7.8% 370 380 0.2% Interest 2.9% Temporary reduction. Borrowings 3,049 3,063 Normalised will be -2.3% 3400mn FY17 FY18
Slide 16: FY 19 snapshot
Sequent Proven Ability In Life Sciences More than Pharma FY 19 snapshot ALIVIRA SeQuent Scientific Limited www.sequent.in
Slide 17: FY19 snapshot
FY19 snapshot FY19 FYTD Q4 FY19 Target Performance Outlook Business on track to ‘surpass’ FY19 objectives ▪ High-teen ▪ Revenue up ▪ 20%+ revenue revenue growth 22.8% YoY growth ▪ 200+ bps margin ▪ EBITDA expansion ▪ 250+ bps margin expansion 310 bps YoY expansion 17
Slide 18: Thank You
Sequent Proven Ability In Life Sciences ALIVIRA Thank You SeQuent Scientific Limited CIN: L99999MH1985PLC036685 Registered Office: 301, 3rd Floor, Dosti Pinnacle, Plot No. E7, Road No. 22,Wagle Industrial Estate, Thane (W) - 400 604, Maharashtra Tel No: +91 22 4111 4777 | Website: www.sequent.in | E
Slide 19: For details, feel free to contact
For details, feel free to contact: Tushar Mistry Shivangi Bubna Abhishek Singhal Chief Financial Officer Christensen Investor Relations Investor Relations Consultant +91 22 4111 4717 +91 22 4215 0210 abhishek.s@sequent.in tushar.m@sequent.in sbubna@christensenir.com Registered Office: 301/A, ‘Dosti