Investor Presentation

Q4 FY 2016
29th April 2016

www.ajantapharma.com

Disclaimer

This presentation may include certain forward looking statements, based on current
expectations, forecasts and assumptions within the meaning of applicable laws and regulations.

They are subject to risks and uncertainties which could cause actual outcomes and results to
differ materially from these statements.

The Company disclaims any obligation to revise any forward-looking statements. The readers

may use their own judgment and are advised to make their own calculations before deciding on
any matter based on the information given herein.

February 2016
29th April 2016

This material is used during oral presentation; it is not a complete record of the discussion.

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February 2016
29th April 2016

Content

India

Emerging Markets

Regulated Markets (USA)

Infrastructure

Financial Highlights

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29th April 2016

India

India Branded Generic Business

Specialty
Segment

February 2016
29th April 2016

Focused
Marketing

Established
Player

Cardiology

Ophthalmology

Dermatology

Pain Management

14 Divisions

3,000+ MRs

190+ Products

About 70% products First to Market

Leadership in sub therapeutic segments

Strong Brand Equity

Consistent Innovation

Major chronic portfolio

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India Sales Q4 FY 2016

Branded Revenue

Revenue Break-up Q4 FY 2016

(Rs. cr.)

(Rs. cr.)
22%

113
97

46

6%

16%
29

25

28

38

30

Total India
Revenue (Rs. cr.)
25%

16

-63%
Q4 FY 2015

Q4 FY 2016

Ophthalmology Dermatology

Cardiology

February 2016
29th April 2016

Q4 FY 2015

Pain Mgt.

114

119

Q4 FY 2015

Q4 FY 2016

Institution

Q4 FY 2016

Source: Company

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India Sales FY 2016

Branded Revenue
(Rs. cr.)

Revenue Break-up FY 2016

492

(Rs. cr.)

27%

418

201

16%
131
114

2%

Total India
Revenue (Rs. cr.)

159

118 121

44%
FY 2015

FY 2016

27

Ophthalmology Dermatology

Cardiology

February 2016
29th April 2016

FY 2015

39

Pain Mgt.

528
480

62
35

-42%

Institution

FY 2016

FY 2015

Source: Company

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FY 2016

Consistent Improvement in Ranking

February 2016
29th April 2016

Rank

Mar 2016

Mar 2015

Mar 2005

Ophthal

28

Derma

13

13

98

Cardio

20

22

38

Pain

45

53

NA

Ajanta

33

36

88

Source: IMS

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Within Segments Ajanta Way Ahead

29%
27%
25%
23%

18%
14%

14%

14%
12%

11%

February 2016
29th April 2016

Pharma Market

Dermatology

Cardiology
IPM

Ophthalmology

Pain Mgt.

Ajanta Pharma

Mar 2016 - MAT

(Source IMS)

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Faster than Industry - IPM

38%
36%

29%
26%
23%

15%

14%

February 2016
29th April 2016

12%

Mar-2012

10%

10%

Mar-2013

Mar-2014
IPM

IPM Indian Pharmaceutical Market

Mar-2015

Mar-2016

Ajanta Pharma

Source: IMS
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29th April 2016

Emerging Markets

Global Presence
USA

West Asia
(3 Countries)

CIS
(6 Countries)

South East
Asia
(3 Countries)

India
Africa

February 2016
29th April 2016

(19 Countries)

Presence in > 30 countries

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Emerging Markets Building Brands

Emerging Markets
Customised product portfolio
Front end presence in all markets (650+ MRs)
Gaining market share in existing territories

Asia

Africa

344 product registrations

1,137 product registrations

536 product registrations awaiting

1,351 product registrations awaiting

approvals

approvals

Major segments - Antibiotic, Derma,

Major segments - Antibiotic, Anti-

February 2016
29th April 2016

Pain, OTC, Ophthal, Cardio, GI

Malaria, Multivitamin, Cardio

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EM Revenue Q4 FY 2016 (Consolidated)

Total Revenue (Rs. cr.)
Revenue Break-up (Rs. cr.)
295

31%

248

174

6%
133
113

Q4 FY 2015

119

Q4 FY 2016

-30%
2
Africa

Asia

February 2016
29th April 2016

Q4 FY 2015

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Others
Q4 FY 2016

EM Revenue FY 2016 (Consolidated)

Total Revenue (Rs. cr.)

1,163

Revenue Break-up

(Rs. cr.)

963

32%
692

8%
525
426

FY 2015

461

FY 2016

-20%

February 2016
29th April 2016

12
Africa

Asia
FY 2015

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10

Others
FY 2016

29th April 2016

Regulated Markets

Regulated Markets - USA

Revenue Q4 FY 2016
(Rs. cr.)

363%

14

199%
5

3
2

Q4
2015

Sales & Marketing

ANDA Status

5 Products launched - more in pipeline

Total Approvals - 10

Oral Solid - Mix of Para II, III & IV (No FTFs)

February 2016
29th April 2016

FY
2016

(8 Final Approvals & 2 Tentative approvals)

Under approval 16
Filing target every year 8 to 12
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29th April 2016

Infrastructure

Manufacturing
Formulation Manufacturing
3 existing facilities in Aurangabad, Maharashtra (1 USFDA, UKMHRA, WHO Pre-Q, approved)
1 Facility at Mauritius

Dahej (Gujrat) - undertaking regulatory filing batches

Guwahati (Assam) Work commenced Investment Rs. 300 cr.

API Manufacturing

February 2016
29th April 2016

1 Facility at Waluj (Aurangabad) - Captive Consumption

API Plant

Paithan Plant
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Dahej Plant

R&D
R&D spend & % of Oper. Income
(Excluding Capex)
5.0%

4.0%

4.0%

5.0%

6.0%

Experienced Team of > 650 scientists

Q4 spend (excl. capex) at Rs. 36 cr., FY 2016 at Rs. 106 cr.
FY 2017 expenses expected to be around 7% of Revenue

106

Capex plan of about Rs. 100 cr. in next 18 months towards

expansion
70
50
37

37

February 2016
29th April 2016

FY 2012 FY 2013 FY 2014 FY 2015 FY 2016

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29th April 2016

Financial Highlights

P&L Q4 FY 2016 (Consolidated)

Rs. cr.

% to Sales

Q4 FY 2015

% to Sales

% Growth

Exports

300

70%

250

67%

20%

Domestic

119

28%

114

31%

5%

2%

2%

-23%

Other Op. Income

February 2016
29th April 2016

Q4 FY 2016

Total Revenue

426

372

EBITDA

141

33%

133

36%

6%

PBT

131

31%

115

31%

14%

PAT

106

25%

74

20%

43%

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14%

P&L FY 2016 (Consolidated)

Rs. cr.

Exports
Domestic
Other Op. Income

February 2016
29th April 2016

Total Revenue

FY 2016

% to Sales

1,178

68%

528
23

% to Sales

% Growth

966

66%

22%

31%

480

33%

10%

1%

28

2%

-18%

1,728

FY 2015

1,474

17%

EBITDA

581

34%

505

34%

15%

PBT

547

32%

456

31%

20%

PAT

401

23%

310

21%

30%

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Balance Sheet (Consolidated)

(Rs. cr.)

Equity & Liabilities

February 2016
29th April 2016

Shareholders' Funds
Share Capital
Reserves and Surplus
Sub Total Shareholders Funds
Non-current Liabilities
Long-term borrowings
Deferred tax liabilities (net)
Other long-term liabilities
Long-term provisions
Sub Total Non-Current Liab.
Current Liabilities
Short-term borrowings
Trade payables
Other current liabilities
Short-term provisions
Sub Total Current Liabilities
TOTAL - LIABILITIES

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FY 2016

FY 2015

18
1,154
1,172

79%

18
823
841

73%

3%

33
15
3
5
56

5%

15
20
0
3
38
58
146
57
11
271
1,481

18%

18
109
58
64
250
1,146

22%

Balance Sheet (Consolidated)

(Rs. cr.)

Assets

February 2016
29th April 2016

Non-Current Assets
Fixed assets
Non-current investments
Long-term loans and advances
Other non-current assets
Sub-total - Non-current assets
Current Assets
Current Investments
Inventories
Trade receivables
Cash and cash equivalents
Short-term loans and advances
Other current assets
Sub-total - Current Assets
TOTAL - ASSETS

FY 2016

FY 2015

691
22
4
717

459
40
9
5
513

66
205
372
55
65
1
764
1,481

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48%

44 D
80 D

52%

19
159
259
137
50
9
633
1,146

45%

40 D
65 D

55%

Consistent Track Record (Consolidated)

PAT

Consolidated Net Sales

(Rs. cr.)

11%

1,705

(Rs. cr.)
12%

& PAT Margin (%)

19%

21%

23%

401

1,446
1,208

310

931

234

677
112

77

February 2016
29th April 2016

2012

2013

2014

2015

2016

2012

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2013

2014

2015

2016

Consistent Track Record (Consolidated)

Net Margin

EBITDA Margin
(%)
31%
21%

2012

34%

(%)

34%

2015

2015

2012

RONW
(%)

2013

2014

2015

2016

ROCE

47%
43%

29%

12%

11%

2014

21%
19%

24%

2013

23%

(%)
40%

50%
45%

32%

42%

37%

February 2016
29th April 2016

22%

2012

2013

2014

2015

2016

2012

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2013

2014

2015

2016

Consistent Track Record (Consolidated)

EPS

Dividend per share

46

(Rs.)

(Rs.) (FV Rs. 2/-)

8

35

27
4

13

2012

2013

2014

2015

Dividend Payout
(%)

18%

19%

2012

2016

2013

2014

2015

Book Value per share

19%

133

(Rs.)

15%

2016

96

13%
67

February 2016
29th April 2016

34

2012

2013

2014

2015

2016

2012

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45

2013

2014

2015

2016

Consistent Track Record (Consolidated)

Receivable Days

Total Debt / Equity

(Nos.)

(Ratio)

0.67

80

77
60

63

65

2013

2014

2015

0.32
0.22

2012

2013

2014

0.09

0.08

2015

2016

2012

Inventory Days

Payable Days

(Nos.)

92

131

134

February 2016
29th April 2016

48

2013

(Nos.)

99

59

2012

2016

2014

40

2015

85

82

2015

2016

44

2016

2012

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2013

2014

Awards & Recognitions

February 2016
29th April 2016

"Best Transformational Leader"

Award by Asian Centre for Corp. Governance
to
Mr. Yogesh Agrawal
Managing Director (MD)
TIME Magazine
Young Maker of the Year
award by the hands of
Prime Minister of India
to
Mr. Yogesh Agrawal, MD &
Mr. Rajesh Agrawal, Jt. MD

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Mr. Yogesh Agrawal, MD

Listed as
"India's Most Valuable CEO"
in size companies category by
Business World

For updates and company information please visit our

website:
www.ajantapharma.com
For specific queries, contact:
Rajeev Agarwal

THANK YOU!

rajeev.agarwal@ajantapharma.com

022-66061377

Ajanta Pharma Limited

Ajanta House, Charkop, Kandivli (W), Mumbai 400 067

February 2016
29th April 2016

CIN No. - L24230MH1979PLC022059

NSE Symbol : AJANTPHARM ISIN: INE031B01031

BSE Symbol : AJANTAPH Code: 532331

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