Hikal Limited · NSE:HIKAL
Hikal — Q4 FY24 Earnings Presentation
25 slides from Hikal's earnings presentation, May 9, 2024
Slide 1: Cover letter to BSE and NSE
May 9, 2024 BSE Ltd., National Stock Exchange of India Ltd., P J Towers, Exchange Plaza, Dalal Street, Bandra-Kurla Complex, Bandra, Mumbai - 400 001. Mumbai - 400 051. Scrip Code: 524735 Symbol: HIKAL Dear Sir/Madam, Subject: Results Presentation of the Company for the quarter and financial year en
Slide 2: Results Presentation – Q4 FY24
Results Presentation – Q4 FY24
Slide 3: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Hikal Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and
Slide 4: Executive Chairman's Message
Executive Chairman’s Message “For the financial year ’24, we achieved revenues of Rs 1,785 Crores as compared to Rs 2,023 Crores last year. FY24 was marred with several global macroeconomic pressures and depressed market conditions for the global chemical sector on account of inventory build up and
Slide 5: Quarterly Financials Highlights
Quarterly Financials Highlights
Slide 6: Gradual Recovery in Q4 FY24
Gradual Recovery in Q4 - sequential improvement in revenues and margins Revenue – Q4 FY24 EBITDA – Q4 FY24 EBITDA Margin – Q4 FY24 Rs. 514 Crore Rs. 94 Crore 18.4% YoY QoQ YoY QoQ YoY QoQ 6% 15% 7% 45% 220 bps 390 bps PAT – Q4 FY24 EPS – Q4 FY24 Rs. 34 Crore Rs 2.75 YoY QoQ YoY QoQ 6% 108% 6% 108% ©
Slide 7: Quarterly Performance Highlights
Quarterly Performance Highlights Revenue +15% Performance Highlights 545 448 514 • Revenue recorded at Rs 514 Crore, 15% growth QoQ basis • Change in product mix • Increased demand of Own products in Pharmaceutical Q4FY23 Q3FY24 Q4FY24 segment • EBITDA stood at Rs 94 Crore, 45% increase on QoQ basis
Slide 8: Quarterly Performance Highlights – Pharmaceuticals
Quarterly Performance Highlights – Pharmaceuticals Revenue +26% Pharmaceuticals - Performance Highlights 309 338 267 • Revenue recorded at Rs 338 Crore, 26% growth QoQ basis • Change in product mix • Increased demand of Own products in Pharmaceutical segment • EBIT stood at Rs 54 Crore, sequential g
Slide 9: Quarterly Performance Highlights – Crop Protection
Quarterly Performance Highlights – Crop Protection Revenue Crop Protection - Performance Highlights 236 -2% • Revenue stood flat at Rs 177 Crore on QoQ basis 177 • Overcapacity and high channel inventory situation continues to 180 affect at an Industry level • Operating environment is expected to st
Slide 10: Quarterly Financial Highlights
Quarterly Financial Highlights Consolidated Revenue Consolidated EBITDA Consolidated PAT 90 94 545 514 448 36 435 388 65 34 57 50 16 13 7 Q4FY23 Q1FY24 Q2FY24 Q3FY24 Q4FY24 Q4FY23 Q1FY24 Q2FY24 Q3FY24 Q4FY24 Q4FY23 Q1FY24 Q2FY24 Q3FY24 Q4FY24 Rs. Crore © Hikal Limited
Slide 11: Quarterly Segmental Highlights
Quarterly Segmental Highlights Pharmaceuticals Revenue Crop Protection Revenue 338 309 270 267 236 225 163 180 177 165 Q4FY23 Q1FY24 Q2FY24 Q3FY24 Q4FY24 Q4FY23 Q1FY24 Q2FY24 Q3FY24 Q4FY24 Pharmaceuticals EBIT Crop Protection EBIT 54 36 31 22 22 18 17 14 10 12 Q4FY23 Q1FY24 Q2FY24 Q3FY24 Q4FY24 Q4FY
Slide 12: Consolidated Profit & Loss – Q4 FY24
Consolidated Profit & Loss – Q4 FY24 Particulars (Rs. Crore) Q4 FY24 Q4 FY23 Y-o-Y Q3 FY24 Q-o-Q Net Sales 514 544 -6% 448 15% Expenditure 420 556 283 EBITDA 94 88 7% 65 45% Margin 18.4% 16.2% 14.5% Other Income 0 0 0 Depreciation 32 27 29 Finance Costs 15 13 14 PBT 47 49 -3% 22 117% Tax 13 13 5 Net
Slide 13: Annual Financials Highlights
Annual Financials Highlights
Slide 14: Financial Highlights - Annual
Financial Highlights - Annual Revenue – FY24 EBITDA – FY24 EBITDA Margin – FY24 Rs. 1,785 Crore Rs. 267 Crore 15.0% YoY YoY YoY -12% +4% +230 bps PAT – FY24 EPS – FY24 Rs. 70 Crore Rs 5.64 YoY YoY -11% -11% © Hikal Limited
Slide 15: Annual Performance Highlights
Annual Performance Highlights Revenue EBITDA PAT 2,023 1,785 257 267 78 70 12.7% 15.0% FY23 FY24 FY23 FY24 FY23 FY24 Pharmaceuticals Division Crop Protection Division 1,115 1,100 908 684 Revenue Revenue FY23 FY24 FY23 FY24 103 93 74 65 EBIT EBIT 11.4% 8.5% 10.9% 5.8% Rs. Crore FY23 FY24 FY23 FY24 ©
Slide 16: Yearly Financial Highlights
Yearly Financial Highlights Consolidated Revenue Consolidated EBITDA Consolidated PAT 1,943 2,023 341 161 1,785 323 1,720 273 133 1,507 267 257 84 78 70 FY20 FY21 FY22 FY23 FY24 FY20 FY21 FY22 FY23 FY24 FY20 FY21 FY22 FY23 FY24 Rs. Crore © Hikal Limited
Slide 17: Sales Break-Up
Sales Break-Up CDMO Own products Company Revenue Break-Up Pharmaceuticals Revenue Break-Up Crop Protection Revenue Break-Up 35% 41% 45% 41% 52% 56% 51% 54% 63% 58% 69% 74% 77% 76% 77% 65% 59% 56% 59% 48% 44% 49% 46% 37% 42% 31% 26% 23% 24% 23% FY20 FY21 FY22 FY23 FY24 FY20 FY21 FY22 FY23 FY24 FY20 F
Slide 18: Yearly Segmental Highlights
Yearly Segmental Highlights Pharmaceuticals Revenue Crop Protection Revenue 1,130 1,115 1,100 908 1,060 813 887 661 684 620 FY20 FY21 FY22 FY23 FY24 FY20 FY21 FY22 FY23 FY24 Pharmaceuticals EBIT Crop Protection EBIT 170 115 151 103 103 128 100 74 93 65 FY20 FY21 FY22 FY23 FY24 FY19 FY20 FY21 FY22 FY
Slide 19: Consolidated Profit & Loss – Full Year
Consolidated Profit & Loss – Full Year Particulars (Rs. Crore) FY24 FY23 Y-o-Y Net Sales 1,785 2,023 -12% Expenditure 1,518 1,766 EBITDA 267 257 +4% Margin 15.0% 12.7% 230 bps Other Income 2 5 Depreciation 118 109 Finance Costs 56 48 Exceptional Item - - PBT 95 105 -9% Tax 26 27 Net Profit 70 78 -11
Slide 20: Consolidated Balance Sheet
Consolidated Balance Sheet Assets (Rs. Crore) Mar-24 Mar-23 Equities & Liabilities (Rs. Crore) Mar-24 Mar-23 Total Non Current Assets 1,521 1,446 Shareholders Fund 1,188 1,134 Property, Plant and Equipment 996 885 Share Capital 25 25 Capital work in Progress 414 402 Other Equity 1,163 1,109 Right to
Slide 21: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement Particulars (Rs. Crore) Full Year ended 31-Mar-24 Full Year ended 31-Mar-23 Profit before tax 95 105 Adjustments 175 163 Operating Profit Before Working Capital Changes 270 268 Change in operating assets and liabilities (53) 76 Cash generated from operations 217 344
Slide 22: Ratio Analysis
Ratio Analysis ROE (%) ROCE (%) 21.6 16.1 15.0 15.2 12.5 10.7 8.5 8.2 7.1 6.1 FY20 FY21 FY22 FY23 FY24 FY20 FY21 FY22 FY23 FY24 Net Debt / Equity (x) Net Debt / EBITDA (x) 0.71 0.67 2.62 0.61 0.59 0.61 2.11 2.13 1.78 1.81 FY20 FY21 FY22 FY23 FY24 FY20 FY21 FY22 FY23 FY24 © Hikal Limited
Slide 23: Annual Dividend Payout
Annual Dividend Payout Dividend Payout 22% 18% 19% 17% 20% 19% 21% 19% 12% 19% including DDT 13.02 EPS 10.80 DPS 8.36 6.85 6.27 6.36 5.70 5.64 3.28 3.35 2.00 1.60 1.20 1.00 1.20 1.20 1.20 1.20 1.20 1.00 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 The above dividend is based on Face Value of Rs
Slide 24: Contact Us
Contact Us Company : Investor Relations Advisors : Hikal Limited Strategic Growth Advisors Pvt. Ltd. CIN: L24200MH1988PTC048028 CIN: U74140MH2010PTC204285 Mr. Kuldeep Jain Mr. Jigar Kavaiya / Ms. Ami Parekh +91-9920602034 / +91-8082466052 kuldeep_jain@hikal.com jigar.kavaiya@sgapl.net / ami.parekh@s
Slide 25: HIKAL
HIKAL