Ipca Laboratories Ltd.
Corporate Presentation
Company Overview
Incorporation
: 1949Present Management
: Since 1975Total income F. Y. 2015-16
: ` 2838.92 Crs / US$ 433 MnExports F. Y. 2015-16
: ` 1428.72 Crs / US$ 288 MnExports F. Y. 2015-16
: ` 1428.72 Crs / US$ 288 MnNumber of Employees
: 13,132 including 6050 in marketing and distributionBusiness Model
: Fully integrated pharmaceutical company producing Branded and Generics Formulations, APIs and IntermediatesFive Years’ Highlights
2011-12
2012-13
2013-14
2014-15
2015-16
Domestic Income
( `
Crs )
941.01
1,081.00
1,190.23
1,367.54
1,410.20
Domestic Income (US $ Mn)
143.67
165.04
181.71
208.78
215.30
Export Income
( `
Crs )
1,401.97
1,716.08
2,066.02
1,752.86
1,428.72
Export Income
( `
Crs )
1,401.97
1,716.08
2,066.02
1,752.86
1,428.72
Export Income (US $ Mn)
214.04
262.00
315.42
267.61
218.13
Total Income
( `
Crs )
2,342.98
2,797.08
3,256.25
3,120.40
2,838.92
Total Income (US $ Mn)
357.71
427.04
497.14
476.40
433.42
Net Profit After Tax
( `
Crs )
280.17
331.39
477.37
256.11
91.45
Manufacturing Facilities
Manufacturing Facilities
Formulations
Location Dosage Form Approvals / Inspections
Athal, Silvassa Tablets & Capsules
UK-MHRA, TGA-Australia, MCC-South Africa,
HPB-Canada, WHO-Geneva
Ratlam, Madhya Pradesh Tablets, Liquids, Injectables
& Ointments MCC-South Africa
Kandla, Gujarat Betalactum – Tablets,
Capsules & Dry Syrups UK-MHRA, MCC-South Africa
Silvassa Tablets & Capsules
UK-MHRA,
TGA-Australia, HPB-Canada, US-FDA
*
Manufacturing Facilities
Formulations
Location Dosage Form Approvals / Inspections
Dehradun, Uttaranchal Tablets &
Cephalosporin Injectables WHO-GMP
Indore (SEZ), Madhya
Pradesh Tablets & Capsules
UK-MHRA US-FDA
*
Sikkim Tablets & Capsules GMP
Pithampur, Dhar , Madhya
Pradesh High Potency Oral Solid Dosage
WHO-GMP
INVIMA Colombia
Tarapur, Palghar Tablets
Manufacturing Facilities
Manufacturing Facilities
APIs
Location Approvals / Inspections
Ratlam, Madhya Pradesh
TGA-Australia, EDQM, Danish Regulatory Authority, PMDA-Japan, WHO-Geneva,
US-FDA
*
Indore, Madhya Pradesh WHO-GMPAnkleshwar, Gujarat PMDA –Japan
Nandesari, Gujarat WHO-GMP
Aurangabad, Maharashtra WHO-GMP
Mahad, Maharashtra GMP
Ranu (Tehsil Padra), Gujarat
Revenue Break-up
2015 - 16
76% 24% Total Revenue Formulations APIs 77% 23% 60% 40% Total Revenue Exports Domestic 51% 49% 84% 16% Domestic Formulations APIs 90% 10% 71% 29% Exports Formulations APIs 65% 35%Revenue Break-up
Domestic Exports Total Domestic Exports Total
Branded Formulations 1206.70 236.36 1443.06 1128.73 343.81 1472.54 -2.0% Growth 2014-15
` Crs
` Crs
` Crs
` Crs
2015-16 Generic Formulations - 685.69 685.69 - 895.40 895.40 -23.4% Total Formulations 1206.70 922.05 2128.75 1128.73 1239.21 2367.94 -10.1% API / Intermediates 140.66 506.67 647.33 178.32 513.65 691.97 -6.5% Others 62.84 - 62.84 60.49 - 60.49 Total Income 1410.20 1428.72 2838.92 1367.54 1752.86 3120.40 -9.0% Growth 3.1% -18.5% -9.0%Financials
`
Crs
US$ Mn
`
Crs
US$ Mn
%
Growth
Total Income
2838.92
433
3120.40
476
-9%
EBIDT
324.08
49
523.71
80
-38%
F.Y. 2015 - 16
F.Y. 2014 - 15
# After forex Loss of ` 39.22 Crs as against forex gain of Rs. ` 4.25 Crs for previous year.
EBIDT %
11.51%
16.96%
PBT #
108.52
17
357.73
55
-70%
PBT %
3.85%
11.59%
PAT #
91.45
14
256.11
39
-64%
Financials
Profitability to
Net Income
FY 2015-16
FY 2014-15
FY 2013-14
PBIDT
11.51%
16.96%
24.89%
PBT
3.85%
11.59%
19.45%
PBT
3.85%
11.59%
19.45%
PAT
3.25%
8.29%
14.76%
Financials
Business Characteristics FY 2015-16 FY 2014-15 FY 2013-14
Return on Capital Employed % (PBIT /
Capital Employed) 4.37% 12.71% 25.28%
Return on Net Worth % (PAT / Net
Worth) 3.97% 11.47% 24.09%
Fixed Asset Turnover Ratio (Total
Income / Net Fixed Assets) 1.35 1.54 2.21
Capital Employed Turnover Ratio (Total Capital Employed Turnover Ratio (Total
Income / Capital Employed) 0.90 1.03 1.26
Asset Coverage Ratio (to term loan) (Net Fixed Assets / Total Long Term
Borrowings) 3.06 3.32 3.22
Long Term Debt Equity Ratio (Total Long
Term Borrowings / Net Worth) 0.30 0.27 0.23
Debtors Turnover Ratio (Days) (Trade
Receivables / Turnover) x 365 48 42 51
Creditors Turnover Ratio (Days) (Trade
Payables / Purchases) x 365 108 66 100
Inventory Turnover Ratio (Days)
Financials
Growth
FY 2015-16
FY 2014-15
FY 2013-14
Net Total Income
-9.00%
-4.20%
16.40%
Domestic Sales
3.10%
15.30%
10.90%
Export Sales
-18.50%
-15.20%
20.40%
Export Sales
-18.50%
-15.20%
20.40%
PBIDT
-38.10%
-35.00%
29.60%
PBT
-69.70%
-43.10%
36.40%
Net Profit
-64.30%
-46.30%
44.10%
2014 – 15
Therapeutic Segment 2015 – 16
Exports Domestic Exports Domestic
21% 36% Non Steroidal Anti-Inflammatory Drugs (NSAID) 25% 39%
30% 23% Cardiovasculars & Anti-Diabetics 31% 23%
24% 14% Anti-Malarials 17% 12%
11% 7% Anti-Bacterials 12% 6%
Financials
Contribution of Therapeutic Groups
2% 5% Gastro-Intestinal (GI) Products 3% 5%
3% 3% Neuro Psychiatry 5% 3% 2% 4% Cough Preparations 2% 4% - 4% Dermatology - 4% - 2% Urology - 2% - 1% Neutraceuticals - 1% 7% 1% Others 5% 1% 100% 100% Total 100% 100%
Branded Formulations
Branded Formulations
Domestic
All India Rank ORG-IMS : 22nd (MAT Mar’16).
25 Depots & 2 C&F agents.
13 Therapy Focused Marketing Divisions.
Field Strength (PSR/ BA)– 4290.
Over 2000 Wholesalers.
3 brands among top 300 brands (HCQS, Zerodol-P & Zerodol-SP).
Branded Formulations
Domestic
` 878.10 Crs US$ 134 MnCAGR = 11.20%
` 969.42 Crs US$ 148 Mn ` 1128.73 Crs US$ 172 Mn ` 1206.70 Crs US$ 1854Mn 2012 - 13 2014 - 15Sales
2013 - 14 2015 - 16Future Growth Drivers
Branded Formulations
Domestic
The company introduced 19 new Brands in the India market during 2015-16.
Clinical research as a tool to launch innovative combination formulations / NDDS.
Strong Brand building with focused promotion. Strong Brand building with focused promotion.
In licensing/ out licensing to build business in the promoted therapy.
Portfolio optimization, strategies to identify need gaps to build, enter, maintain and exit approach.
Exports to over 120 countries.
Recognized Star Trading House.
Among top 10 pharmaceutical exporters from India.
50% sales from exports.
International Business
50% sales from exports.
Field-force to promote brands in more than 30 countries of CIS, South East Asia, Middle East, Latin America and Africa.
Marketing offices in Russia, Ukraine, Vietnam, Philippines, Kenya, Columbia, Sri Lanka, Malaysia and Nigeria (subsidiary company).
Formulation dossiers for branded formulations registered in 62 countries.
` 1716.08 Crs US$ 262 Mn ` 2066.02 Crs US$ 315 Mn ` 1428.72 Crs US$ 218 Mn
CAGR = -5.90%
International Business
` 1752.86 Crs US$ 268 Mn 2013 - 14 2014 - 15 2015 - 16 US$ 218 MnSales
2012 - 13International Business
Continent
Formulations
Bulk Drugs /
Intermediates
Total
%
Contribution
Europe
373.50
175.10
548.60
38%
Africa
198.82
20.10
218.92
15%
Continent-wise Exports 2015 – 16 (```` Crs)Africa
198.82
20.10
218.92
15%
Americas
113.30
151.96
265.26
19%
Asia
55.87
148.03
203.90
14%
CIS
92.99
6.63
99.62
7%
Australasia
87.57
4.85
92.42
6%
Total
922.05
506.67
1428.72
100%
International
` 1194.18 Crs US$ 182 Mn ` 1465.79 Crs US$ 224 Mn ` 1239.21 Crs US$ 189 Mn
CAGR = -8.20%
International
Formulations
` 922.05 Crs US$ 141 Mn 2012 - 13 2013 - 14 2014 - 15 2015 - 16Sales
US$ 141 MnInternational
` 281.17 Crs US$ 43 Mn ` 346.06 Crs US$ 53 Mn ` 343.81 Crs US$ 52 Mn
CAGR = -5.60%
International
Branded Formulations
` 236.36 Crs 2012 - 13 2013 - 14 2014 – 15 2015 - 16Sales
` 236.36 Crs US$ 36 MnThrust on brand building in Pain, CVS, CNS, Anti-infective and Anti-malarial segments. Geographical expansion in covered countries through additional field force.
Expansion in business lines - Institutions and Distributors.
Introduction of new products - Existing developed formulations are identified for
International
Branded Formulations
Future Growth Drivers
Introduction of new products - Existing developed formulations are identified for registration and launch across all continents.
International
International
Generics
Country Products Registered Products Under Registration United Kingdom / Europe 59 2 ` 913.01 Crs US$ 139 Mn ` 1119.73 Crs US$ 171 MnCAGR = -9.10%
` 895.40 Crs US$ 137 Mn Australia / New Zealand 57 10 South Africa 42 20 United States / Canada 31 27 2012 - 13 2013 - 14 2014 - 15 2015- 16Sales
` 685.69 Crs US$ 105 MnDossiers developed by company approved in UK are being taken for registration in other EU countries.
Most formulations registered to be backed by own API.
Sale of generic dossiers with or without supply agreements.
International
Generics
Future Growth Drivers
Sale of generic dossiers with or without supply agreements.
Strategic tie up with 3 marketing partners for sale/distribution of Generic formulations.
42 ANDAs filed of which 18 ANDAs are approved.
8 to 10 ANDAs targeted for filing for every year.
505 (b) (2) projects/ Sustained Release Formulations.
International
Generics
Future Growth Drivers – North America
505 (b) (2) projects/ Sustained Release Formulations.
International
` 521.90 Crs US$ 80 Mn ` 600.23 Crs US$ 92 Mn `513.65 Crs US$ 78Mn
CAGR = -0.98%
International
APIs
` 506.67 Crs US$ 77 Mn 2013 - 14 2014 - 15 2015 - 16 2012 - 13Sales
US$ 77 MnInternational
APIs – Drug Master Files
Sr. No. Name of the API
US- FDA UK -MHRA Canada- HPFB WHO Japan -PMDA Australia EDQM - Europe 1 Atenolol
a
a
a
a
a
a
a
a
a
a
a
a
CEP
a
a
a
a
2 Artemethera
a
a
a
3 Artesunatea
a
a
a
4 Artesunate Sterilea
a
a
a
5 Amodiaquine Hcla
a
a
a
6 Amlodipine Besylatea
a
a
a
a
a
a
a
6 Amlodipine Besylatea
a
a
a
a
a
a
a
7 Allopurinola
a
a
a
a
a
a
a
CEP
a
a
a
a
8 Beventalol Hcla
a
a
a
9 Benzaronea
a
a
a
10 Benzbromaronea
a
a
a
11 Bendroflumethiazidea
a
a
a
12 Bisoprolol Fumaratea
a
a
a
a
a
a
a
13 Carvedilola
a
a
a
a
a
a
a
a
a
a
a
14 Cetrizine Dihydrochloride
a
a
a
a
CEP
a
a
a
a
International
APIs – Drug Master Files
Sr. No. Name of the API
US- FDA UK -MHRA Canada- HPFB WHO Japan -PMDA Australia EDQM - Europe 16 Chloroquine Sulphate
a
a
a
a
17 Chlorthalidonea
a
a
a
a
a
a
a
a
a
a
a
18 Cilostazolea
a
a
a
19 Citalopram HBRa
a
a
a
20 Dihydroartemesinina
a
a
a
21 Etodolaca
a
a
a
a
a
a
a
21 Etodolaca
a
a
a
a
a
a
a
22 Famotidinea
a
a
a
a
a
a
a
23 Fenofibratea
a
a
a
a
a
a
a
24 Fluconazolea
a
a
a
25 Flumequinea
a
a
a
26 Furosemidea
a
a
a
a
a
a
a
a
a
a
a
CEP
a
a
a
a
27 Glimepiridea
a
a
a
a
a
a
a
a
a
a
a
28 Hydrochlorothiazidea
a
a
a
a
a
a
a
a
a
a
a
CEP
a
a
a
a
29 Hydroxyzine Di Hcla
a
a
a
a
a
a
a
30 Hydroxychloroquine Sulphatea
a
a
a
a
a
a
a
a
a
a
a
a
a
a
a
International
APIs – Drug Master Files
Sr. No. Name of the API
US- FDA UK -MHRA Canada- HPFB WHO Japan -PMDA Australia EDQM - Europe 31 Indapamide
a
a
a
a
a
a
a
a
a
a
a
a
32 Losartan Potassium
a
a
a
a
a
a
a
a
CEP
a
a
a
a
33 Lumefantrine
a
a
a
a
34 Methylphenidatea
a
a
a
a
a
a
a
35 Mesalamine/ Mesalazinea
a
a
a
a
a
a
a
36 Metformin HCLa
a
a
a
a
a
a
a
a
a
a
a
36 Metformin HCLa
a
a
a
a
a
a
a
a
a
a
a
37 Metoclopramide HCla
a
a
a
a
a
a
a
CEP
a
a
a
a
38 Metoclopramide Basea
a
a
a
39 Metoprolol Succinatea
a
a
a
a
a
a
a
40 Metoprolol Tartratea
a
a
a
a
a
a
a
a
a
a
a
a
a
a
a
41 Midodrine Hydrochloridea
a
a
a
42 Nabumetonea
a
a
a
a
a
a
a
43 Nifedipinea
a
a
a
a
a
a
a
44 Ondansetron Hydrochloridea
a
a
a
a
a
a
a
a
a
a
a
45 Ondansetron Basea
a
a
a
International
APIs – Drug Master Files
Sr. No. Name of the API
US- FDA UK -MHRA Canada- HPFB WHO Japan -PMDA Australia EDQM - Europe 46 Pantoprazole Sodium Sesquihydrate aaaa 47 Paroxetine Hcl aaaa 48 Perindopril aaaa 49 Primaquine Phosphate aaaa aaaa 50 Piperaquine Phosphate aaaa a a a a 51 Probenecid aaaa 52 Proguanil Hydrochloride aaaa aaaa 53 Propranolol HCl aaaa aaaa aaaa CEP aaaa 54 Pyrantel Pamoate aaaa aaaa aaaa aaaa 55 Pyrimethamine Hcl aaaa aaaa 56 Promethazine Hydrochloride aaaa 57 Quetiapine Fumarate aaaa aaaa 58 Risperidone aaaa 59 Residronate Sodium aaaa 60 Ractopamine Hcl aaaa aaaa
International
APIs – Drug Master Files
Sr. No. Name of the API
US- FDA UK -MHRA Canada- HPFB WHO Japan -PMDA Australia EDQM - Europe 61 Sodium Alendronate
a
a
a
a
a
a
a
a
a
a
a
a
62 Sulfadoxinea
a
a
a
63 Telmisartana
a
a
a
64 Torsemidea
a
a
a
a
a
a
a
65 Tramadol Hydrochloridea
a
a
a
a
a
a
a
a
a
a
a
66 Trimethoprima
a
a
a
a
a
a
a
CEP
a
a
a
a
66 Trimethoprima
a
a
a
a
a
a
a
CEP
a
a
a
a
67 Triamterenea
a
a
a
a
a
a
a
68 Triclabendazolea
a
a
a
69 Valsartana
a
a
a
a
a
a
a
70 Warfarin Sodium Clathrate
a
a
a
a
a
a
a
a
71 Warfarin Sodium
CEP
a
a
a
a
72 Zaltoprofen
a
a
a
a
73 Zoledronic Acida
a
a
a
Total 47 4 20 7 16 12 44
Pursuing MNC tie-ups for supply agreements. Non-infringing process Patent filed for APIs.
International
APIs
Own API manufacturing to back formulations, especially for the Generic market.
Exploring strategic business relationship with smaller API manufacturers for increasing product basket.
International
APIs
Future Growth Drivers
Research & Development
Research & Development
APIs & Formulations
R & D Spending Year ` Crs % to Sales 2011-12 77.96 3.39% 2012-13 100.74 3.68% 2013-14 123.24 3.85% 2014-15 157.19 5.14% 2015-16 137.67 4.96%
Current scientist manpower of over 800.
Research focus on developing APIs with non-infringing process and development of finished dosage forms.
Development of NDDS for domestic and international market.
Research & Development
APIs & Formulations
Bio-tech / fermentation research facility established and working under contract research on two products.
Undertaking contract research activities for APIs & Formulations for international clients.
Research & Development
APIs & Formulations
Thank you
No part of this corporate presentation may be re-produced, quoted or circulated without prior approval of Ipca Laboratories Limited.
This presentation may include forward looking statements based on our current business expectations. Our actual results may differ from what is projected in this corporate presentation. The viewers of this presentation may use their own judgment and calculation before making any decision on any matter based on the information given herein. The company also disclaims any obligation to revise any of the information given in this presentation.