15 Mth - Plethico Pharmaceuticals

PLETHICO PHARMACEUTICALS LIMITED
APRIL 08 CORPORATE PRESENTATION
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www.plethico.com
Agenda
1. Company Overview
2. Growth Strategy
3. US Focus- An Analysis
4. Analysis of Financials
5. Summary
2
Company
Overview
3
Introduction
Leaders in Herbal/ Nutraceutical formulations Globally. Non
infringing model.
Fully integrated with Organic farming, SOA manufacturing site to
be compliant to enable sales to advanced markets like US, UK.
Presence in more than 60 countries including India. Adding
US, UK, Australia, Korea & HK recently after acquiring Natrol.
Distribution focus in US, UK, CIS and deepening reach in SEA
in Cambodia, Vietnam & Philippines.
Strong Financials: Over INR 600 Crore Networth, Debt: INR 76
Crores (excluding FCCB of USD 75 Mln) , Revenue & Earnings
(Projected 31.12.08) 1000 Crores & 200 Crores, (Actual Q1)
241 Crores & 41 Crores respectively, EPS (Annual Projected
Fully diluted*) 50 Rs per share. (*worst case scenario)
4
Business Segments
Business Classified into SBUs (ANNUALISED Revenues INR 447 (329) Crores,
PAT INR 114 (86) Crores)
Domestic SBU’s (INR 145 (109) Crores)
Contract Manufacturing (INR 111 (88) Crores)
Consumer Product Division (INR 34 (21) Crores)
Export SBUs - semi-regulated / un-regulated markets (INR 302 (220) Crores)
Common Wealth of Independent States (CIS) Countries (INR 130 (110) Crores)
Non-CIS Countries ( INR 172 (110) Crores)
• The African nations (INR 69 (46) Crores)
• Third Front (INR 103 (64) Crores)
-
South East Asian (SEA) nations
Gulf Coast Countries (GCC)
Latin American Countries (LAC)
(Figures in bracket are for Previous year ending 30th September, 2006 and current period is Annualized
number for 15 months ending 31st December, 2007)
5
A TRULY GLOBAL REACH
USA*
Caribbean
El Salvador
Nicaragua
Costa Rica
Panama
Guatemala
Domnican
Republic
Peru
Chile
Ecuador
Colombia
Venezuela
* Denotes areas due to
acquisition of NATROL INC,
USA
Turkmenistan
Ukraine
Uzbekistan
Russia
Tajikistan
Kazakhstan
Kyrgyzstan
Moldova
Azerbaijan
Georgia
KuwaitUK*
Vietnam
Yemen
CHINA* Papua New Guinea
Dubai
Malaysia
Bahrain
Cambodia
Cameroon
Oman
Philippines
Sierra Leone
Jordan
Hong Kong
Algeria
Sudan
Thailand
Sri
Ivory Coast Uganda
Singapore
Lanka
DR Congo
Kenya
Indonesia
Benin
Ethiopia
Taiwan
Togo
Eritrea
Korea
Burkina Faso South Africa
AUST. &
Nigeria
NZ*
Mauritius
Our Manufacturing Facilities
MANGALIA PLANT
Both units at Indore, M.P., India
Fully Integrated State of Art Manufacturing Units
Cater to High Capacity Production of Lozenges,
Tablets, Capsules, Liquid Orals, Eye / Ear drops,
Injectables, Ointments & Creams, PET bottles.
Centralized humidity & temperature controlled
warehousing
Kalaria to match UK MHRA Allopathic OTC & US FDA
regulation for NEW Food standards.
KANDLA SEZ unit, Gujarat caters to Herbal formulations.
USA* - NATROL caters to Herbal/ Nutraceuticals.
7
KALARIA PLANT
Our Star Products
8
Our Star Products
9
Natrol’s* Brands
10
Natrol’s Products Portfolio
11
Joint Product Portfolio
OTC Herbal Formulations: Travisil®
OTC Herbal Food Supplement:
Mountain Herbz®
Laci Le Beau® Super Dieter’s tea,
Nu Hair®,
Shen Min®
OTC Herbal Generic:
Natrol® Acai, Kawa Kawa, Gingko Biloba, Grape Seed, Papaya Enzyme, St.
John’s Wort,
OTC Food supplement:
Natrol® Chondroitin, Glucosamine, CoQ10, Melatonine, ALA, DHEA, Easy C,
Omega 3 Fish Oil, L-Carnitine, NADH,
BioSil® Othosilic acid,
Promensil ®,
Trinovin ®
12
Joint Product Portfolio
OTC Sports Nutrition:
MRI’s® Black Powder™, No2®, Pro Nos™, N30™, CE2 High Def™, Anabolic
Switch™, 8FX™
Prolab® Glutamine ™, BCAA Plus ™, Lean mass ™, N Large² ™, Pure Whey
™, Amino 200 ™, Creatine Monohydrate Powder ™, Cuts II ™, Therma Pro ™
Coach’s Formula ® Super Protein, Super Creatine, BCAA+, Muscle mass,
Weight Loss, Weight gain, Energizer®
OTC Confectionery:
Bytes®, Actifresh®, Myntz®, Khalo-G®, Tcef
OTC Allopathic:
Fastoric ®, Effertabz®, Therasil®, Loractiv®, Plestal®, Amod®,Coolz®,
Plazadol®, Plenalgin® , Relievo®
OTC Disposable:
2 to Tango®
13
Growth
Strategy
Growth Strategy
Deeper penetration into existing markets- SEA (through Joint ventures),
CIS (Belarus, Baltic states), LAC (Brazil through acquisition), USA
through acquisition.
Expansion into new markets- East & West European markets – Pharma.
OTC (through Rezlov partner)
Focusing on Exports from Natrol into our stronghold markets.
Marketing of Travisil into US markets
Manufacturing of Prolab in India for Non US, UK markets.
Medicated Lozenge unit in UAE – Significant expansion over existing
capacity. Will cater to US/UK/CIS/GCC markets.
15
Analysis of
Financials
16
Key Financial Indicators (Current)
Quarter I results
Successfully integrated Natrol into Plethico financially.
Revenues at INR 241 Crores and PAT at INR 41 Crores.
Regional contribution: US 46%, Third front (LAC/SEA/GCC) 16%, CIS
13%, India CM/TM 13%, Africa 8%, & India OTC 5%.
Herbal/ Nutraceuticals 77%, CM/TM 13%, Allopathic/ branded disposable 10%.
Receivables at 133 days.
12 months results Projected
Revenues at INR 1000 Crores and PAT at INR 200 Crores.
EPS on fully diluted basis including FCCB at INR 50 per share.
Regional contributions: US 45%, ROW: 55%
Herbal/ Nutraceuticals 75%, CM/TM 10%, Allopathic/ branded disposable
15%.
Receivables at 135 days.
(All figs in INR)
17
Key Financial Indicators
Particulars
Total Income
EBITDA
Interest & Fin. Charges
Depreciation
Profit After Tax
EBITDA Margin
PAT Margin
Year/Period Ended (Figs in INR in Millions)
JUNE 30, JUNE 30,JUNE 30, SEP 30, SEP 30, SEP 30, Dec 31,
2001
2002
2003
2004
2005
2006
2007
(15 Mth)
(15 Mth)
1,230
1,272
1,487
2,376
2,245
3,297
5,583
181
193
245
504
674
994
1,628
21
19
42
58
29
54
94
7
10
33
53
50
58
85
150
161
164
1,056
561
860
1,419
14.7%
15.1%
16.5%
21.2%
30.0%
30.1%
29.2%
12.2%
12.7%
11.0%
44.4%
25.3%
26.1%
25.4%
The Company had sold off its Domestic division (Ethical Allopathic division) to M/s Shreya Life Science
Pvt Ltd in October 2003. The extraordinary income of Rs 698.50 Mn is included in Profit Before Tax
(PBT) for FY 2004.
18
Key Financial Indicators
Particulars
Capital Employed
Net Block (Including Capital WIP)
Working Capital
Net Worth
Borrowings
Debt Equity Ratio
Return on Net Worth
Earning Per Share
JUNE 30,
2001
1,056
404
582
766
290
61.0%
19.5%
20
Year/Period Ended
(Rs. In Millions)
JUNE 30,JUNE 30, SEP 30, SEP 30, SEP 30, DEC 31,
2002
2003
2004
2005
2006
2007
(15 Mth)
(15 Mth)
9876
1,498
1,598 2,609 3,301
5,024
1134
716
908
990
986
1,169
4580
737
640
765 1,145
2,407
5931
907
1,060 2,084 2,623
4,539
3826
591
537
525
678
946
64.5%
89.0% 97.0% 32.0% 32.0% 18.8%
26.7%
17.7% 15.5% 50.7% 21.4% 19.0%
21
22
139
74
27
46
Equity Capital Structure till 30th September 05 was INR 76 Million, which was subsequently
increased by issuing Bonus Shares and raising the same to INR 304 Million. So, Comparability post
this period will have to be made, keeping this point in mind. The update reflects the pre- issue capital
as the IPO took place in April ’06.
Note: The
19
Summary
20
Summary
Non infringing model of Business
State of art manufacturing units in India possessing capability of
manufacturing all possible dosage forms.
Strong formulation/ Product development technique including NDDS like
effervescent tablets (Effertabs/ Coolz).
Strong M&D tie up in Russia, CIS & Cambodia- Now US, HK & UK added
Strong professional management team and motivated workforce
Foray into Backward Integration for cultivating essential critical herbs for
captive consumption thus enabling high end finger printing technology for
herbal formulations
Strong system oriented company (Oracle JD Edwards ERP & SIfy FFMS)
Extensive Product list transcending more than 45 therapeutic categories
catering to more than 60 countries across the globe
21
THANK YOU
22
PLETHICO PHARMACEUTICALS LIMITED
Q&A