Hikal Limited · NSE:HIKAL
Hikal — Q1 FY23 Earnings Presentation
23 slides from Hikal's earnings presentation, Aug 10, 2022
Slide 1: Exchange filing cover letter
Hfl<IIL August 10, 2022 Dept. of Corporate Services, Listing Department, BSE Ltd., National Stock Exchange of India Ltd., P J Towers, Exchange Plaza, Bandra Kurla Complex, Dalal Street, Bandra (East), Mumbai - 400 001. Mumbai 400051. BSE Scrip Code : 524735 NSE Symbol : HIKAL Dear Sir/ Madam, Subjec
Slide 2: Results Presentation – Q1 FY23
Results Presentation – Q1 FY23
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 “We had a challenging quarter where we witnessed significant headwinds in both our businesses. Our Pharmaceutical business witnessed a de-growth of 18% and revenue stood at Rs. 224 Crores in Q1 FY23, predominantly due to channel inventory correction at customers’ end. Ad
Slide 5: Quarterly Financials Highlights
Quarterly Financials Highlights
Slide 6: Revenue – Q1 FY23 Rs. 379 Crore
Q1 was a challenging quarter for both Pharmaceutical and Crop Protection businesses, however a step-wise recovery is expected in next three quarters Revenue – Q1 FY23 EBITDA – Q1 FY23 EBITDA Margin – Q1 FY23 Rs. 379 Crore Rs. 23 Crore 6.0% YoY QoQ YoY QoQ YoY QoQ -17% -25% -76% -63% -1500 bps -620 b
Slide 7: Quarterly Performance Highlights
Quarterly Performance Highlights Revenue -17% 502 Performance Highlights 457 379 • Revenue recorded a decrease of 17% YoY • Channel inventory correction by the Pharma customers • Disruption in operations for the Crop Protection business Q1FY22 Q4FY22 Q1FY23 • EBITDA decreased to Rs 23 Crore EBITDA •
Slide 8: Quarterly Performance Highlights – Pharmaceuticals
Quarterly Performance Highlights – Pharmaceuticals Revenue -18% Pharmaceuticals - Performance Highlights 308 274 • Revenue recorded a decrease of 18% YoY 224 • Temporary demand softening for key products • Channel inventory correction by customers • EBIT decreased to Rs (8) Crore • Significant incre
Slide 9: Quarterly Performance Highlights – Crop Protection
Quarterly Performance Highlights – Crop Protection Revenue -15% Crop Protection - Performance Highlights 194 183 • Revenue recorded a decrease of 15% YoY 154 • Decrease in sales volume on account of disruption in operations • EBIT stood at Rs 10 Crore • Higher input costs of raw materials, solvents
Slide 10: Quarterly Financial Highlights
Quarterly Financial Highlights Consolidated Revenue Consolidated EBITDA Consolidated PAT -17% -76% -118% 51 515 502 96 44 45 469 91 93 457 379 61 21 23 -9 Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Rs. Crore © Hikal Limited
Slide 11: Quarterly Segmental Highlights
Quarterly Segmental Highlights Pharmaceuticals Revenue Crop Protection Revenue -18% 308 -15% 274 280 268 246 224 194 183 190 154 Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Pharmaceuticals EBIT Crop Protection EBIT -117% -68% 48 37 36 30 38 32 34 12 10 -8 Q1FY22 Q2FY22 Q3FY
Slide 12: Consolidated Profit & Loss – Q1 FY23
Consolidated Profit & Loss – Q1 FY23 Particulars (Rs. Crore) Q1 FY23 Q1 FY22 Y-o-Y Q4 FY22 Q-o-Q Net Sales 379 457 -17% 502 -25% Expenditure 356 361 441 EBITDA 23 96 -38% 61 -63% Margin 6.0% 21.0% 12.2% Other Income 3 3 0 Depreciation 27 23 24 Finance Costs 11 8 8 PBT (12) 68 -117% 29 -141% Tax (3)
Slide 13: Annual Financials Highlights
Annual Financials Highlights
Slide 14: Financial Highlights - Annual
Financial Highlights - Annual Revenue – FY22 EBITDA – FY22 EBITDA Margin – FY22 Rs. 1,943 Crore Rs. 341 Crore 17.5% FY18-22 FY18-22 YoY YoY YoY CAGR CAGR 13% 5% -124bps 11% 9% PAT – FY22 EPS – FY22 Rs. 161 Crore Rs 13.02 FY18-22 FY18-22 YoY YoY CAGR CAGR 21% 21% 20% 20% © Hikal Limited
Slide 15: Annual Performance Highlights
Annual Performance Highlights Revenue EBITDA PAT +13% +5% +21% 1,943 323 341 161 1,720 133 FY21 FY22 FY21 FY22 FY21 FY22 Pharmaceuticals Division Crop Protection Division +7% +23% 1,060 1,130 813 661 Revenue Revenue FY21 FY22 FY21 FY22 +11% -11% 170 115 151 103 EBIT EBIT Rs. Crore FY21 FY22 FY21 FY2
Slide 16: Yearly Financial Highlights
Yearly Financial Highlights Consolidated Revenue Consolidated EBITDA Consolidated PAT +9% +11% 1,943 341 161 323 1,720 298 +20% 1,590 133 1,507 273 242 1,300 103 84 77 FY18 FY19 FY20 FY21 FY22 FY18 FY19 FY20 FY21 FY22 FY18 FY19 FY20 FY21 FY22 Rs. Crore © Hikal Limited
Slide 17: Sales Break-Up
Sales Break-Up Pharmaceuticals Revenue Break-Up Crop Protection Revenue Break-Up CDMO Own products 41.2% 44.5% 54.0% 69.0% 76.7% 75.7% 58.8% 55.5% 46.0% 31.0% 23.3% 24.3% FY20 FY21 FY22 FY20 FY21 FY22 © Hikal Limited
Slide 18: Yearly Segmental Highlights
Yearly Segmental Highlights Pharmaceuticals Revenue Crop Protection Revenue +11% +10% 1,130 813 1,060 939 887 651 661 620 753 547 FY18 FY19 FY20 FY21 FY22 FY18 FY19 FY20 FY21 FY22 Pharmaceuticals EBIT Crop Protection EBIT +7% +11% 170 112 115 151 100 103 129 128 87 99 FY18 FY19 FY20 FY21 FY22 FY18 F
Slide 19: Consolidated Profit & Loss – Full Year
Consolidated Profit & Loss – Full Year Particulars (Rs. Crore) FY22 FY21 Y-o-Y Net Sales 1,943 1,720 13% Expenditure 1,602 1,397 EBITDA 341 323 3% Margin 17.5% 18.8% Other Income 5 5 Depreciation 96 85 Finance Costs 31 36 Exceptional Item - - PBT 219 206 6% Tax 58 73 Net Profit 161 133 21% Margin 8.
Slide 20: Ratio Analysis
Ratio Analysis ROE ROCE 16.1% 15.2% 15.0% 16.2% 12.8% 15.2% 12.5% 14.5% 12.0% 10.7% FY18 FY19 FY20 FY21 FY22 FY18 FY19 FY20 FY21 FY22 Net Debt / Equity Net Debt / EBITDA 0.91 2.51 0.83 2.11 2.13 0.71 0.61 1.78 1.81 0.59 FY18 FY19 FY20 FY21 FY22 FY18 FY19 FY20 FY21 FY22 © Hikal Limited
Slide 21: Annual Dividend Payout
Annual Dividend Payout Dividend Payout 14% 24% 22% 18% 19% 17% 20% 19% 19% 12% including DDT 13.02 EPS DPS 10.80 8.36 6.85 6.27 5.70 5.18 3.28 3.35 2.05 2.00 1.20 1.60 1.00 1.00 1.20 1.20 1.20 0.90 0.50 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 The above dividend is based on Face Value of Rs
Slide 22: 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 / Mr. Aakash Mehta +91-9920602034 / +91-9819178243 Kuldeep_jain@hikal.com jigar.kavaiya@sgapl.net / aakash.meh
Slide 23: HIKAL
HIKAL