Slide 1: Results Presentation – Q3 FY24
Results Presentation – Q3 FY24
Slide 2: 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 3: Executive Chairman's Message
Executive Chairman’s Message “The global chemical industry continues to witness turbulence on the back of increased inventory levels, higher interest rates and intense price competition. We see prices bottoming out over the next few months and at the same time we can see things improving in the indu
Slide 4: Quarterly Financials Highlights
Quarterly Financials Highlights
Slide 5: Revenue – Q3 FY24 Rs. 448 Crore
Gradual Recovery in Q3 - expect sequential improvement in revenues and margins Revenue – Q3 FY24 EBITDA – Q3 FY24 EBITDA Margin – Q3 FY24 Rs. 448 Crore Rs. 65 Crore 14.5% YoY QoQ YoY QoQ YoY QoQ 17% 3% 13% 13% 70 bps 130 bps PAT – Q3 FY24 EPS – Q3 FY24 Rs. 16 Crore Rs 1.32 YoY QoQ YoY QoQ 38% 30% 38
Slide 6: Quarterly Performance Highlights
Quarterly Performance Highlights Revenue +3% Performance Highlights 540 435 448 • Revenue recorded at Rs 448 Crore, 3% growth QoQ basis • Change in product mix • Increased demand of Own products in Pharmaceutical Q3FY23 Q2FY24 Q3FY24 segment EBITDA • EBITDA stood at Rs 65 Crore, 13% increase on QoQ
Slide 7: Quarterly Performance Highlights – Pharmaceuticals
Quarterly Performance Highlights – Pharmaceuticals Revenue Pharmaceuticals - Performance Highlights -1% 292 270 267 • Revenue stood flat at Rs 267 Crore sequentially • EBIT stood at Rs 18 Crore, sequential growth of 56% o Softening of key RM prices o Improvement on account of business excellence ini
Slide 8: Quarterly Performance Highlights – Crop Protection
Quarterly Performance Highlights – Crop Protection Revenue Crop Protection - Performance Highlights 248 +9% • Revenue stood at Rs 180 Crore 180 o Destocking situation continues at an Industry level 165 o Operating environment is expected to normalize towards the end of H1 FY25 • EBIT stood at Rs 22
Slide 9: Quarterly Financial Highlights
Quarterly Financial Highlights Consolidated Revenue Consolidated EBITDA Consolidated PAT 540 545 90 448 75 435 36 388 65 57 50 26 16 13 7 Q3FY23 Q4FY23 Q1FY24 Q2FY24 Q3FY24 Q3FY23 Q4FY23 Q1FY24 Q2FY24 Q3FY24 Q3FY23 Q4FY23 Q1FY24 Q2FY24 Q3FY24 Rs. Crore © Hikal Limited
Slide 10: Quarterly Segmental Highlights
Quarterly Segmental Highlights Pharmaceuticals Revenue Crop Protection Revenue 309 292 270 267 248 236 225 180 163 165 Q3FY23 Q4FY23 Q1FY24 Q2FY24 Q3FY24 Q3FY23 Q4FY23 Q1FY24 Q2FY24 Q3FY24 Pharmaceuticals EBIT Crop Protection EBIT 36 31 26 27 22 18 22 17 12 10 Q3FY23 Q4FY23 Q1FY24 Q2FY24 Q3FY24 Q3FY
Slide 11: Consolidated Profit & Loss – Q3 FY24
Consolidated Profit & Loss – Q3 FY24 Particulars (Rs. Crore) Q3 FY24 Q3 FY23 Y-o-Y Q2 FY24 Q-o-Q Net Sales 448 540 -17% 435 3% Expenditure 383 465 375 EBITDA 65 75 -13% 57 13% Margin 14.5% 13.8% 13.2% Other Income 0 2 1 Depreciation 29 28 29 Finance Costs 14 13 13 PBT 22 36 -39% 17 31% Tax 5 10 4 Ne
Slide 12: Nine Months Financials Highlights
Nine Months Financials Highlights
Slide 13: Financial Highlights – Nine Months
Financial Highlights – Nine Months Revenue – 9M FY24 EBITDA – 9M FY24 EBITDA Margin – 9M FY24 Rs. 1271 Crore Rs. 173 Crore 13.6% YoY YoY YoY 14% 3% 230 bps PAT – 9M FY24 EPS – 9M FY24 Rs. 36 Crore Rs 2.89 YoY YoY 16% 16% © Hikal Limited
Slide 14: Nine Month Performance Highlights
Nine Month Performance Highlights Revenue EBITDA PAT 1,478 167 173 42 1,271 36 9MFY23 9MFY24 9MFY23 9MFY24 9MFY23 9MFY24 Pharmaceuticals Division Crop Protection Division 806 763 671 508 Revenue Revenue 9MFY23 9MFY24 9MFY23 9MFY24 40 73 61 29 EBIT EBIT Rs. Crore 9MFY23 9MFY24 9MFY23 9MFY24 © Hikal L
Slide 15: Sales Break-Up
Sales Break-Up Pharmaceuticals Revenue Break-Up Crop Protection Revenue Break-Up 33.0% 41.2% 44.5% 41.0% 69.0% 73.8% 75.7% 78.0% 67.0% 58.8% 55.5% 59.0% 31.0% 26.2% 24.3% 22.0% FY21 FY22 FY23 9MFY24 FY21 FY22 FY23 9MFY24 CDMO Own Products © Hikal Limited
Slide 16: Annual Financials Highlights
Annual Financials Highlights
Slide 17: Financial Highlights - Annual
Financial Highlights - Annual Revenue – FY23 EBITDA – FY23 EBITDA Margin – FY23 Rs. 2,023 Crore Rs. 257 Crore 12.7% YoY YoY YoY +4% -25% -482 bps PAT – FY23 EPS – FY23 Rs. 78 Crore Rs 6.36 YoY YoY -51% -51% © Hikal Limited
Slide 18: Annual Performance Highlights
Annual Performance Highlights Revenue EBITDA PAT 1,943 2,023 341 161 257 78 FY22 FY23 FY22 FY23 FY22 FY23 Pharmaceuticals Division Crop Protection Division 1,130 1,115 908 813 Revenue Revenue FY22 FY23 FY22 FY23 151 115 103 65 EBIT EBIT Rs. Crore FY22 FY23 FY22 FY23 © Hikal Limited
Slide 19: Yearly Financial Highlights
Yearly Financial Highlights Consolidated Revenue Consolidated EBITDA Consolidated PAT 1,943 2,023 341 161 323 1,720 298 133 1,590 273 1,507 257 103 84 78 FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21 FY22 FY23 Rs. Crore © Hikal Limited
Slide 20: Sales Break-Up
Sales Break-Up CDMO Own products Company Revenue Break-Up Pharmaceuticals Revenue Break-Up Crop Protection Revenue Break-Up 41% 45% 41% 52% 58% 56% 54% 63% 69% 77% 76% 74% 59% 55% 59% 48% 42% 44% 46% 37% 31% 23% 24% 26% FY20 FY21 FY22 FY23 FY20 FY21 FY22 FY23 FY20 FY21 FY22 FY23 © Hikal Limited
Slide 21: Yearly Segmental Highlights
Yearly Segmental Highlights Pharmaceuticals Revenue Crop Protection Revenue 1,130 1,115 908 1,060 813 939 887 651 620 661 FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21 FY22 FY23 Pharmaceuticals EBIT Crop Protection EBIT 170 112 115 151 103 103 129 100 128 65 FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21 FY22 FY
Slide 22: Consolidated Profit & Loss – Full Year
Consolidated Profit & Loss – Full Year Particulars (Rs. Crore) FY23 FY22 Y-o-Y Net Sales 2,023 1,943 4% Expenditure 1,766 1,602 EBITDA 257 341 -25% Margin 12.7% 17.5% Other Income 5 5 Depreciation 109 96 Finance Costs 48 31 Exceptional Item - - PBT 105 219 -52% Tax 27 58 Net Profit 78 161 -51% Margi
Slide 23: Consolidated Balance Sheet
Consolidated Balance Sheet Assets (Rs. Crore) Mar-23 Mar-22 Equities & Liabilities (Rs. Crore) Mar-23 Mar-22 Total Non Current Assets 1,446 1,249 Shareholders Fund 1,134 1,068 Property, Plant and Equipment 885 815 Share Capital 25 25 Capital work in Progress 402 285 Other Equity 1,109 1,043 Right to
Slide 24: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement Particulars (Rs. Crore) Full Year ended 31-Mar-23 Full Year ended 31-Mar-22 Profit before tax 105 219 Adjustments 163 126 Operating Profit Before Working Capital Changes 268 345 Change in operating assets and liabilities 76 19 Cash generated from operations 344 364 I
Slide 25: Ratio Analysis
Ratio Analysis ROE ROCE 16.2% 16.1% 15.2% 15.0% 15.2% 12.5% 14.5% 10.7% 8.5% 7.1% FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21 FY22 FY23 Net Debt / Equity Net Debt / EBITDA 0.83 0.71 2.62 0.61 0.59 0.61 2.11 2.13 1.78 1.81 FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21 FY22 FY23 © Hikal Limited
Slide 26: Annual Dividend Payout
Annual Dividend Payout Dividend Payout 24% 22% 18% 19% 17% 20% 19% 19% 12% 19% including DDT 13.02 EPS DPS 10.80 8.36 6.85 6.27 6.36 5.70 5.18 3.28 3.35 2.00 1.60 0.90 1.00 1.20 1.20 1.20 1.20 1.20 1.00 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 The above dividend is based on Face Value of Rs
Slide 27: 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 28: HIKAL
HIKAL