Slide 1: Exchange filing cover letter for results presentation
February 04, 2025 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 period ende
Slide 2: Investor Presentation: Q3 & 9M FY25
Investor Presentation: Q3 & 9M FY25 February, 2025
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 “In the global pharmaceutical industry, we are witnessing positive momentum led by CDMO opportunities while the crop protection industry is showing signs of stabilization. In Q3 FY25, our revenue amounted to Rs. 448 Cr, with an EBITDA of Rs. 72 Cr, a 11% EBITDA growth on
Slide 5: Quarterly Financials Highlights
Quarterly Financials Highlights 4
Slide 6: Q3 FY25: Operational Highlights
Q3 FY25: Operational Highlights Revenue EBITDA PAT EBITDA Margin EPS Rs. 448 Crore Rs. 72 Crore Rs. 17 Crore 16.1 % Rs. 1.4 YoY 0% YoY 11% YoY 6% YoY 160 bps YoY 6% QoQ 1% QoQ 3% QoQ 5% QoQ 40 bps QoQ 5% 55
Slide 7: Q3 FY25: Consolidated Performance
Q3 FY25: Consolidated Performance Rs. In crores Revenue EBITDA EBITDA% 453 448 448 16.5 16.1 75 72 14.5 65 Q2FY25 Q3FY24 Q3FY25 Q2FY25 Q3FY24 Q3FY25 Q2FY25 Q3FY24 Q3FY25 COMMENTARY • Board has recommended an interim dividend of 30% of FV • Pharmaceutical business is capitalizing on China+1 strategy
Slide 8: Q3 FY25: Pharmaceuticals Performance
Q3 FY25: Pharmaceuticals Performance Rs. In crores Revenue EBIT 294 293 267 40 33 18 Q2FY25 Q3FY24 Q3FY25 Q2FY25 Q3FY24 Q3FY25 COMMENTARY • API business is experiencing volume growth due to successful • 22 customer audits completed successfully during the global customer acquisition and improved geo
Slide 9: Q3 FY25: Crop Protection Performance
Q3 FY25: Crop Protection Performance Rs. In crores Revenue EBIT 180 159 154 22 14 8 Q2FY25 Q3FY24 Q3FY25 Q2FY25 Q3FY24 Q3FY25 COMMENTARY • Crop Protection industry has started to exhibit signs of stabilization • Witnessing relatively better traction in domestic market for our • The excess inventory
Slide 10: Q3 FY25: Revenue Contribution
Q3 FY25: Revenue Contribution Revenue Split Pharmaceuticals: Revenue Contribution 40% Q3 Q3 43% 57% 60% FY24 FY25 59.8% 65.5% Crop Protection: Revenue Contribution 40.2% 34.5% 20% Q3 44% Q3 FY24 FY25 56% Q3FY24 Q3FY25 80% Pharmaceuticals Crop Protection CDMO Own products 99
Slide 11: Q3 FY25: Consolidated P&L
Q3 FY25: Consolidated P&L Particulars (Rs. In crores) Q3FY25 Q3FY24 YoY Q2FY25 QoQ Revenue 447.7 447.6 0% 452.9 -1% Expenditure 375.5 382.7 378.1 EBITDA 72.2 64.9 11% 74.8 -3% EBITDA Margin 16.1% 14.5% 16.5% Other Income 3.6 0.1 0.4 Depreciation 33.2 29.0 31.7 Interest 18.7 14.2 18.8 PBT 23.8 21.7 1
Slide 12: Nine Months Financials Highlights
Nine Months Financials Highlights 11
Slide 13: 9M FY25: Operational Highlights
9M FY25: Operational Highlights Revenue EBITDA PAT EBITDA Margin EPS Rs. 1307 Crore Rs. 205 Crore Rs. 41 Crore 15.7% Rs. 3.29 YoY 3% YoY 18% YoY 14% YoY 210 bps YoY 14% 12 12
Slide 14: 9M FY25: Consolidated Performance
9M FY25: Consolidated Performance Rs. In crores Revenue EBITDA EBITDA% 1,271 1,307 205 15.7% 173 13.6% 9M FY24 9M FY25 9M FY24 9M FY25 9M FY24 9M FY25 Pharmaceuticals Crop Protection 763 817 508 491 Revenue Revenue 9M FY24 9M FY25 9M FY24 9M FY25 82 61 43 EBIT EBIT 40 9M FY24 9M FY25 9M FY24 9M FY25
Slide 15: 9M FY25: Revenue Contribution
9M FY25: Revenue Contribution Revenue Split Pharmaceuticals: Revenue Contribution 33% 9M 9M 39% FY24 61% FY25 67% 60.0% 62.5% Crop Protection: Revenue Contribution 22% 40.0% 37.5% 35% 9M 9M FY24 FY25 65% 9MFY24 9MFY25 78% Pharmaceuticals Crop Protection CDMO Own products 14 14
Slide 16: 9M FY25: Consolidated P&L
9M FY25: Consolidated P&L Particulars (Rs. In crores) 9MFY25 9MFY24 YoY Revenue 1307.4 1270.5 3% Expenditure 1102.4 1097.9 EBITDA 205.0 172.6 19% EBITDA Margin 15.7% 13.6% Other Income 4.5 2.0 Depreciation 96.7 85.3 Interest 57.3 41.1 PBT 55.4 48.2 15% Tax 14.9 12.6 Net Profit 40.6 35.6 14% PAT Marg
Slide 17: About Us
High Resolution Image needed About Us
Slide 18: Our Vision & Mission
Our Vision & Mission VISION MISSION To be the leading global fine To create value through superior, chemical company to the chemical products and operate as a Pharmaceutical, Crop Protection, responsible company. Building trust We have a strong presence across multiple segments with a and Specialty
Slide 19: Key Milestones
Key Milestones 1988 1991 1995 1997 Founded by Jai Hiremath as a First Plant site set up in Listed on Bombay Stock Taloja plant commissioned for chemical business Mahad, Maharashtra Exchange & National Stock CDMO Project with US Innovator Exchange 2009 2001 2000 New R&T Centre established & Tokyo Acq
Slide 20: Domestic & Global Presence
Domestic & Global Presence We Service Clients Globally Through our Global Footprint Panoli Taloja Europe USA Japan Pune India Navi Mumbai Bengaluru Mahad Corporate HQ R&T center, Integrated Mini Plant Manufacturing Site We serve markets across Americas, Europe, ME & We have offices across USA, Europ
Slide 21: Manufacturing Capabilities
Manufacturing Capabilities Pharmaceuticals Jigani Unit 1, Karnataka Jigani Unit 2, Karnataka Panoli, Gujarat • US FDA Approved API and Advanced Intermediates • Scale-up and Launch Plant • Acquired Manufacturing site from Novartis in 2000 Manufacturing Site • Multipurpose and Multi-product cGMP Facil
Slide 22: Our state-of-the-art R&T facility
Our state-of-the-art R&T facility 15 4 1 Synthetic Instrumentation Kilo Lab Laboratories Labs (Scale up & Pilot) 1 1 1 Process Effluent Solid State Safety Treatability Chemistry Lab Lab Lab 1 1 1 Innovation Simulation High Lab Lab Pressure Lab 6 >250 26 Process Post PhD Development Lab Graduates 21
Slide 23: Key Operational Metrics
Key Operational Metrics 5 $60Mn 3000+ 24 Manufacturing facilities Capex invested in new Assets Employees Production Blocks Pharmaceuticals Crop Protection 67 27 2,460MT 1 Kilo lab 22 3,740MT Active DMFs Commercialized Active P h a r m a (Scale up & Pilot) Commercialized Active Ingredients APIs Ingre
Slide 24: Sustainability Initiatives
Sustainability Initiatives
Slide 25: ESG Strategy
ESG Strategy E nvironment Decarbonization Material circularity Water management S ocial Community Health and safety Diversity & inclusion Employee relations Customers G overnance Governance Transparency & risk Fair sourcing & corruption management Note: * Resource Intensity 24
Slide 26: ESG – Key Initiatives
ESG – Key Initiatives PHASE 1 PHASE 2 PHASE 3 Initiation Program (Completed) Program Governance (Ongoing) Actions & Impact (To commence) • Baselining for GHG1&2 • Baselining for GHG Scope 3 • Submission SBTi Targets • Material Topics Identification • Signatory to SBTi • Deployment of Energy saving P
Slide 27: Regulatory Approvals
Regulatory Approvals Integrated Management Key Regulatory Approvals Systems across all sites 26
Slide 28: Awards
High Resolution Image needed Awards
Slide 29: Awards & Accolades
Awards & Accolades Our Corporate Communications & Digital team awarded Our Chairman recognised by WWF India for with the Bronze Award for Excellence in Environmental Hikal’s impactful contribution towards Nature Stewardship at the Imagexx 2024 Summit Awards for Gaudian Program Hikal's #PledgeForGree
Slide 30: Historical Financials
High Resolution Image needed Historical Financials
Slide 31: Yearly Financial Highlights
Yearly Financial Highlights Rs. In crores Revenue EBITDA PAT 2,023 341 161 1,943 323 1,785 1,720 133 273 267 1,507 257 84 78 70 FY20 FY21 FY22 FY23 FY24 FY20 FY21 FY22 FY23 FY24 FY20 FY21 FY22 FY23 FY24 30
Slide 32: Yearly Segmental Highlights
Yearly Segmental Highlights Rs. In crores 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 Revenue 170 115 151 100 103 103 128 74 93 65 FY20 FY21 FY22 FY23 FY24 FY20
Slide 33: Sales Break-Up
Sales Break-Up Pharmaceuticals Revenue Break-Up Crop Protection Revenue Break-Up 35.0% 41.0% 44.0% 41.0% 54.0% 69.0% 76.7% 75.7% 74.0% 77.0% 65.0% 59.0% 56.0% 59.0% 46.0% 31.0% 26.0% 23.3% 24.3% 23.0% FY20 FY21 FY22 FY23 FY24 FY20 FY21 FY22 FY23 FY24 CDMO Own Products 32
Slide 34: Consolidated Profit & Loss – Full Year
Consolidated Profit & Loss – Full Year Particulars (Rs. In Crore) FY24 FY23 Y-o-Y Net Sales 1,785 2,023 -12% EBITDA 267 257 +4% Margin 15.0% 12.7% 230 bps Depreciation 118 109 Finance Costs 56 48 Exceptional Item - - PBT 95 105 -9% Tax 26 27 Net Profit 70 78 -11% Margin 3.9% 3.9% - 33
Slide 35: Consolidated Balance Sheet
Consolidated Balance Sheet Assets (Rs. In Crore) Mar-24 Mar-23 Equities & Liabilities (Rs. Crore) Mar-24 Mar-23 Total Non Current Assets 1,520 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
Slide 36: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement Particulars (Rs. In 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 3
Slide 37: Ratio Analysis
Ratio Analysis ROE% ROCE% 21.6% 16.1% 15.0% 12.5% 15.2% 10.7% 8.5% 8.2% 7.1% 6.1% 2020 2021 2022 2023 2024 2020 2021 2022 2023 2024 Net Debt / Equity (x) Net Debt / EBITDA (x) 0.7 2.6 0.7 0.6 0.6 0.6 2.1 2.1 1.8 1.8 2020 2021 2022 2023 2024 2020 2021 2022 2023 2024 36
Slide 38: Thank You
Thank You Company: Investor Relations Advisors : Hikal Limited Strategic Growth Advisors Pvt. Ltd CIN: L24200MH1988PTC048028 CIN: U74140MH2010PTC204285 Mr. Kuldeep Jain Mr. Jigar Kavaiya / Ms. Ami Parekh Kuldeep_jain@hikal.com +91-9920602034 / +91-8082466052 jigar.kavaiya@sgapl.net/ ami.parekh@sgapl