Slide 1: Exchange filing cover letter for results presentation
November 2, 2023 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 half-year en
Slide 2: Results Presentation – Q2 FY24
Results Presentation – Q2 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 “The global chemical industry continues to experience a challenging period with prices declining across product segments coupled with the high channel inventory levels and intense price competition. Customers are focusing on lower prices to bring down their average inven
Slide 5: Quarterly Financials Highlights
Quarterly Financials Highlights
Slide 6: Q2 FY24 Revenue, EBITDA, PAT and EPS
Sequential Recovery in Q2 - Expect to see continuous improvement in revenues and margins Revenue – Q2 FY24 EBITDA – Q2 FY24 EBITDA Margin – Q2 FY24 Rs. 435 Crore Rs. 57 Crore 13.2% YoY QoQ YoY QoQ YoY QoQ -22% 12% -18% 14% 73 bps 27 bps PAT – Q2 FY24 EPS – Q2 FY24 Rs. 13 Crore Rs 1.02 YoY QoQ YoY Qo
Slide 7: Quarterly Performance Highlights
Quarterly Performance Highlights Revenue +12% Performance Highlights 559 435 388 • Revenue recorded at Rs 435 Crore, 12% growth QoQ basis • Change in product mix • Positive traction in Pharmaceutical API segment Q2FY23 Q1FY24 Q2FY24 • EBITDA stood at Rs 57 Crore, 14% increase on QoQ basis EBITDA • O
Slide 8: Quarterly Performance Highlights – Pharmaceuticals
Quarterly Performance Highlights – Pharmaceuticals Revenue +20% Pharmaceuticals - Performance Highlights 290 270 • Revenue stood at Rs 270 Crore, 20% QoQ growth 225 • Positive traction in Pharmaceutical API segment • EBIT stood at Rs 12 Crore • Softening of certain raw material prices • Reduced oper
Slide 9: Quarterly Performance Highlights – Crop Protection
Quarterly Performance Highlights – Crop Protection Revenue +1% Crop Protection - Performance Highlights 269 • Revenue stood at Rs 165 Crore • Disruptive channel inventory correction in Agrochemicals space 163 165 which has deferred demand for key products • Demand from customers is expected to recov
Slide 10: Quarterly Financial Highlights
Quarterly Financial Highlights Consolidated Revenue Consolidated EBITDA Consolidated PAT 559 545 90 36 540 75 435 70 26 388 25 57 50 13 7 Q2FY23 Q3FY23 Q4FY23 Q1FY24 Q2FY24 Q2FY23 Q3FY23 Q4FY23 Q1FY24 Q2FY24 Q2FY23 Q3FY23 Q4FY23 Q1FY24 Q2FY24 Rs. Crore © Hikal Limited
Slide 11: Quarterly Segmental Highlights
Quarterly Segmental Highlights Pharmaceuticals Revenue Crop Protection Revenue 309 290 292 270 269 248 236 225 163 165 Q2FY23 Q3FY23 Q4FY23 Q1FY24 Q2FY24 Q2FY23 Q3FY23 Q4FY23 Q1FY24 Q2FY24 Pharmaceuticals EBIT Crop Protection EBIT 36 35 31 26 27 22 17 12 11 10 Q2FY23 Q3FY23 Q4FY23 Q1FY24 Q2FY24 Q2FY
Slide 12: Consolidated Profit & Loss – Q2 FY24
Consolidated Profit & Loss – Q2 FY24 Particulars (Rs. Crore) Q2 FY24 Q1 FY24 Q-o-Q Q2 FY23 Y-o-Y Net Sales 435 388 12% 559 -22% Expenditure 375 338 489 EBITDA 57 50 14% 70 -18% Margin 13.2% 12.9% 12.5% Other Income 1 1 1 Depreciation 29 28 27 Finance Costs 13 14 11 PBT 17 10 74% 33 -49% Tax 4 3 8 Ne
Slide 13: Half-Yearly Financials Highlights
Half-Yearly Financials Highlights
Slide 14: Financial Highlights – Half-Yearly
Financial Highlights – Half-Yearly Revenue – H1 FY24 EBITDA – H1 FY24 EBITDA Margin – H1 FY24 Rs. 823 Crore Rs. 108 Crore 13.1% YoY YoY YoY -12% 17% 323 bps PAT – H1 FY24 EPS – H1 FY24 Rs. 19 Crore Rs 1.57 YoY YoY 22% 22% © Hikal Limited
Slide 15: Half-Yearly Performance Highlights
Half-Yearly Performance Highlights Revenue EBITDA PAT 938 823 92 108 19 16 H1FY23 H1FY24 H1FY23 H1FY24 H1FY23 H1FY24 Pharmaceuticals Division Crop Protection Division 514 495 423 328 Revenue Revenue H1FY23 H1FY24 H1FY23 H1FY24 22 46 39 2 EBIT EBIT Rs. Crore H1FY23 H1FY24 H1FY23 H1FY24 © Hikal Limite
Slide 16: Sales Break-Up
Sales Break-Up CDMO Own products Company Revenue Break-Up Pharmaceuticals Revenue Break-Up Crop Protection Revenue Break-Up 26% 45% 41% 45% 41% 58% 56% 56% 69% 76% 74% 77% 74% 55% 59% 56% 59% 42% 44% 44% 31% 24% 26% 23% FY21 FY22 FY23 H1 FY24 FY21 FY22 FY23 H1 FY24 FY21 FY22 FY23 H1 FY24 © Hikal Lim
Slide 17: Consolidated Profit & Loss – H1 FY24
Consolidated Profit & Loss – H1 FY24 Particulars (Rs. Crore) H1 FY24 H1 FY23 Y-o-Y Net Sales 823 938 -12% Expenditure 715 846 EBITDA 108 92 17% Margin 13.1% 9.9% Other Income 2 5 Depreciation 56 54 Finance Costs 27 22 PBT 26 21 26% Tax 7 5 Net Profit 19 16 22% © Hikal Limited
Slide 18: Consolidated Balance Sheet
Consolidated Balance Sheet Assets (Rs. Crore) Sep-23 Mar-23 Equities & Liabilities (Rs. Crore) Sep-23 Mar-23 Total Non Current Assets 1,497 1,446 Shareholders Fund 1,146 1,133 Property, Plant and Equipment 856 885 Share Capital 25 25 Capital work in Progress 506 402 Other Equity 1,121 1,109 Right to
Slide 19: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement Particulars (Rs. Crore) Half Year ended 30-Sep-23 Half Year ended 30-Sep-22 Profit before tax 26 21 Adjustments 87 70 Operating Profit Before Working Capital Changes 113 91 Change in operating assets and liabilities 3 2 Cash generated from operations 116 93 Income ta
Slide 20: Annual Financials Highlights
Annual Financials Highlights
Slide 21: 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 22: 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 23: 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 24: 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 25: 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 26: 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 27: 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 28: 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 29: 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 30: 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 31: 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 32: HIKAL
HIKAL