l@

nimfia pharmalimited

Ajanta House,
Charkop, Kandivli West,
Mumbai400 067
lndia

24th

T +91 22 6606 1000

F +91 226606t200
E
W

info@ajantaPharma.com
www.ajantaPharma.com

January,2017

BsE LIMITED

Phiroze Jeejeebhoy Towers

DataI Street,
Mumbai - 400 001

National Stock Exchange of India,

Exchange Ptaza, 5th Ftoor, Ptot no. C/1, G Btock,
Bandra Kurta Comptex, Bandra (East),
Mumbai - 400 051

Scrip Code: BSE - AJANTPHARM 532331t NSE - A"JANTPHARM EQ

Sub.: Presentation on Results
Dear Sir/Madam,

We refer to the Unaudited financial results for the quarter ended 31't December,2016
submitted to your office today.

Pursuant to Regutation 46 SEBI (Listing Obl,igations and Disctosure Requirements)

Regutations,2015, we are now attaching the presentation on results being circulated to
the investors and analysts and uptoaded on our website.
Kindty take the same on your records and disseminate to your members.
Thanking You,
Yours faithfutty,

GAUMNG SHAH
Sr. G.IA. - Legal &,
Company Secretary
Enc[.: a/a

Corporate ldentity Number - 124230MH1979P1C022059

Investor Presentation

24th January 2017

Q3 FY 2017
24th January 2017

Content

India

Exports

Infrastructure

Financial Highlights

24th January 2017

2 of 31

24th January 2017

1
India

3 of 31

India Branded Generic Business

Specialty
Segment

24th January 2017

Focused
Marketing

Established
Player

Cardiology

Ophthalmology

Dermatology

Pain Management

14 Divisions

3,000+ MRs

200+ Products

About 70% products First to Market

Leadership in sub therapeutic segments

Strong Brand Equity

Consistent Innovation

Major chronic portfolio

4 of 31

India Sales Q3
India Branded Sales#

Therapeutic Break-up

(Rs. cr.)

13%
132

(Rs. cr.)

16%

149

7%
35

37

17%
32

63
54

38

6%
11

10
Q3 FY 2016

Q3 FY 2017
Ophthalmology

Dermatology

Total India Sales@

12%

24th January 2017

Q3 FY 2016

# = excluding institution
@ = including institution

Cardiology

Q3 FY 2016

(Rs. cr.)

137

-10%
6

Pain Mgt.

Institution

Q3 FY 2017

Rs. cr.
154

Q3 FY 2017

Ophthalmology
Dermatology
Cardiology
Pain Mgt.
Institution
Total

Source: Company
Gross Revenue incl. Excise Duty

5 of 31

Q3 FY
2016
35
32
54
10
6
137

Q3 FY
2017
37
38
63
11
5
154

Gth
7%
17%
16%
6%
-10%
12%

India Sales 9M
India Branded Sales

Therapeutic Break-up

(Rs. cr.)

23%

18% 460

11%

391

107 118

17%
95

(Rs. cr.)

195

158

111

14%
36

31
9M FY 2016

15

9M FY 2017

Total India Sales

Ophthalmology

Dermatology

13%

24th January 2017

9M FY 2016

# = excluding institution
@ = including institution

Cardiology

9M FY 2016

(Rs. cr.)
420

-51%
29

Pain Mgt.

9M FY 2017

474

9M FY 2017

Institution

Rs. cr.

9M FY
2016
Ophthalmology
107
Dermatology
95
Cardiology
158
Pain Mgt.
31
Institution
29
Total
420

Source: Company
Gross Revenue incl. Excise Duty

6 of 31

9M FY
2017
118
111
195
36
15
474

Gth
11%
17%
23%
14%
-51%
13%

24th January 2017

IPM - Ranking

Rank

Dec 2016

Dec 2015

Mar 2005

Ophthal

28

Derma

13

13

98

Cardio

20

20

38

Pain

44

45

NA

Ajanta

33

33

88

IPM = Indian Pharmaceutical Market

Source: IMS

7 of 31

Within Segments Ajanta Way Ahead

Dec. 2016 - MAT
(Source: IMS)
22%

17%

16%

13%
11%

24th January 2017

10%

Pharma Market

Dermatology

10%

9%

Cardiology
IPM

12%

11%

Ophthalmology

Ajanta Pharma

IPM Indian Pharmaceutical Market

8 of 31

Pain Mgt.

Faster than Industry - IPM

36%

29%
26%
23%

17%
14%
12%
10%

24th January 2017

Mar-2013

11%

10%

Mar-2014

Mar-2015

IPM

Mar-2016

Ajanta Pharma

IPM = Indian Pharmaceutical Market

Source: IMS

9 of 31

Dec-2016

24th January 2017

2
Exports

10 of 31

Global Presence

USA

West Asia
(3 Countries)

CIS
(6 Countries)

South East
Asia
(3 Countries)

India
Africa
24th January 2017

(19 Countries)

11 of 31

Emerging Markets

Product
Registrations

Asia 354

Africa 1,183

Rich product pipeline under registration

and under development in R&D

Therapeutic
Segments

Asia - Cardio, Pain, MED, GI, Antibiotic,

Derma, Anti Histamine

Africa - Anti Malaria, Multivitamin,

24th January 2017

Cardio, Antibiotic, Gynaec, MED, Pain

Established
Player

Smart product portfolio remains an edge

Field strength of 700+ MRs

Facing headwinds due to currency

devaluations & forex scarcity

12 of 31

Regulated Markets

ANDA Status#

24th January 2017

Sales &
Marketing#

Final Approval: 16

Tentative approval: 2

Under approval: 14

Filing target for current year: 8 to 12

Filed in FY 2017 : 6

12 Products commercialized

More products scheduled for launch in coming months

Focus on Oral Solids

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

# = As on 31st Dec 2016

13 of 31

Export Sales Q3 FY 2017 (Consolidated)

Regional Break-up (Rs. cr.)
8%

Total Sales
9%

(Rs. cr.)

211

196

-30%

361

129

332

90

1290%
59
4

Africa

-53%
3

Asia

USA

Q3 FY 2016

Q3 FY 2017

Others

Rs. cr.
Q3 FY 2016

24th January 2017

Q3 FY 2016 Q3 FY 2017

Q3 FY 2017

Gth

Africa

196

211

8%

Asia

129

90

-30%

USA

59

1290%

3
332

1
361

-53%
9%

Others
Total
Source: Company

14 of 31

Export Sales 9M FY 2017 (Consolidated)

Regional Break-up (Rs. cr.)
12%
579

Total Sales (Rs. cr.)

518

-18%

14%

342
1,002

1351%

281

878

-63%

139

10
Africa

Asia

USA

9M FY 2016

Others

9M FY 2017

Rs. cr.
9M FY 2016

24th January 2017

9M FY 2016 9M FY 2017

Source: Company

9M FY 2017

Gth

Africa

518

579

12%

Asia

342

281

-18%

USA

10

139

1351%

8
878

3
1,002

Others
Total
15 of 31

-63%
14%

Total Sales
9M Revenue Break-up

Q3 Revenue Break up

(Rs. cr.)

(Rs. cr.)

14%

10%
9%

12%

332

470

361

13%

878

1,298

1,002

420 474

137 154

India

1,476

14%

515

Exports

Q3 FY 2016

Total Revenue

India

Exports

9M FY 2016

Q3 FY 2017

Total Revenue

9M FY 2017

24th January 2017

Rs. cr.

Rs. cr.

Q3 FY
2016
137

Q3 FY
2017
154

12%

India

Exports

332

361

9%

Exports

Total Revenue

470

515

10%

Total Revenue

India

Gth

16 of 31

9M FY
2016
420

9M FY
2017
474

13%

878

1,002

14%

1,298

1,476

14%

Gth

Infrastructure

24th January 2017

17 of 31

Manufacturing
Formulation Manufacturing
3 existing facilities in Aurangabad, Maharashtra (1 USFDA & WHO Pre-Q approved)
1 Facility at Mauritius
Dahej (Gujarat) - Commercial operation from April 2017
Guwahati (Assam) First phase commissioned, 2nd phase by Q4 FY 2018

API Manufacturing

24th January 2017

1 Facility at Waluj (Aurangabad) - Captive Consumption

API Plant - Waluj

Paithan Plant

18 of 31

Dahej Plant

R&D

R&D spend & % of Oper. Income

(Excluding Capex)

6%
5%

106

4%
4%

70

5%
50
37

37

24th January 2017

Team size of 800+ scientists

Q3 revenue spend is Rs. 45 cr. (8.4% of revenue)
FY 2012 FY 2013 FY 2014 FY 2015 FY 2016

9 months revenue spend is Rs. 114 cr. (7.5% of revenue)

19 of 31

Financial Highlights

24th January 2017

20 of 47
20 of 31

P&L Synopsis Q3 FY 2017 (Consolidated)

Rs. cr.

Q3 FY 2017

% to Sales

Q3 FY 2016

% to Sales

% Growth

Exports

361

68%

332

70%

9%

Domestic

154

29%

138

29%

12%

18

3%

1%

156%

Other Op. Income

533

477

12%

EBITDA

178

33%

164

34%

9%

PBT

181

34%

153

32%

19%

PAT

143

27%

114

24%

25%

Total Comprehensive
Income

142

27%

115

24%

24%

24th January 2017

Income from Operations

21 of 47
21 of 31

P&L Synopsis 9M FY 2017 (Consolidated)

Rs. cr.
Exports

Domestic
Other Op. Income
Income from Operations

9M FY 2017

% to Sales

9M FY 2016

% to Sales

% Growth

1,002

66%

878

67%

14%

474

31%

420

32%

13%

49

3%

16

1%

203%

1,525

1,314

16%

528

35%

440

34%

20%

PBT

504

33%

420

32%

20%

PAT

393

26%

303

23%

29%

Total Comprehensive
Income

391

26%

308

23%

27%

24th January 2017

EBITDA

22 of 47
22 of 31

Detailed P&L Q3 & 9M FY 2017 (Consolidated) (Ind AS)

Q3

Rs. cr.

FY 2017

FY 2016

Income from Operations

533

477

Materials consumed

107

20%

115

24%

322

21%

318

24%

77

15%

65

14%

220

14%

188

14%

0%

0%

0%

0%

15

3%

12

2%

42

3%

33

3%

171

32%

133

28%

455

30%

368

28%

371

70%

326

68%

1,042

68%

911

69%

162

30%

151

32%

483

32%

403

31%

0%

21

1%

16

1%

Employee Benefit
Finance Cost
Depreciation
Other Expenses
Total expenses
Operational Profit
Other Income
Profit before tax
Tax Expense
Net Profit
24th January 2017

9M

19

4%

FY 2017

FY 2016

1,525

1,314

181

34%

153

32%

504

33%

419

32%

38

7%

39

8%

111

7%

116

9%

143

27%

114

24%

393

26%

303

23%

Other Comprehensive Income

(1)

Total Comprehensive Income

142

1
27%

115

(2)
24%

391

23 of 47
23 of 31

4
26%

307

23%

Ind AS Reconciliation (Consolidated)

Rs. cr.

Particulars

Reserve
Reconciliation

Profit Reconciliation
Q3 FY 2016

9M FY 2016

FY 2016

111.30

295.10

401.41

1,154.37

Fair Value Adjustment of

Financial Assets

0.72

2.85

4.45

10.37

Employee Benefits Actuarial

Gain/(Loss) Adjustments

0.11

0.16

0.25

Deferred Tax impact

1.81

5.28

4.79

9.14

Total

2.64

8.29

9.49

19.51

113.94

303.39

410.90

1,173.88

Net Profit/Reserves as per

Accounting Standard

24th January 2017

Net Profit/Reserves as per Ind AS

24 of 47
24 of 31

FY 2016

Consistent Track Record (Consolidated)

PAT

Consolidated Gross Revenue

(Rs. cr.)

11%

1,743

(Rs. cr.)
12%

& PAT Margin (%)

19%

21%

23%

401

1,485
1,216

310

937

234

685
112

24th January 2017

77

2012

2013

2014

2015

2016

2012

2013

2014

25 of 47
25 of 31

2015

2016

Consistent Track Record (Consolidated)

EBITDA Margin
(%)
31%
21%

2012

Net Margin
34%

(%)

34%

19%

24%

2013

2015

2016

2012

RONW
(%)

29%

12%

11%

2014

47%

43%

2013

ROCE
(%)
40%

23%
21%

2014

2015

50%
45%

42%

37%

32%

2016

24th January 2017

22%

2012

2013

2014

2015

2016

2012

2013

2014
26 of 47

26 of 31

2015

2016

Consistent Track Record (Consolidated)

Dividend per share

EPS

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

46

(Rs.)

35
27
3

13

2012

2013

2014

2015

2012

2016

Dividend Payout
(%)
18%
13%

2013

2014

2015

Book Value per share

19%

133

(Rs.)

19%

2016

96

15%
67

24th January 2017

34

2012

2013

2014

2015

2016

2012

45

2013

2014

2015

27 of 47
27 of 31

2016

Consistent Track Record (Consolidated)

0.67

Receivable Days

Total Debt / Equity

(Nos.)

(Ratio)

80

77
60

63

2013

2014

65

0.32
0.22
0.09

2012

2013

2014

92

2015

0.08

2012

2016

2015

2016

Payable Days

Inventory Days

(Nos.)

(Nos.)
131

134

59

24th January 2017

48

2012

2013

2014

40

2015

99

44

2016

2012

2013

2014

85

82

2015

2016

28 of 47
28 of 31

Awards & Recognitions

Mr. Yogesh & Rajesh Agrawal

LISTED IN INDIAS TOP 100 CEOS

Nominated for
Next Generation Entrepreneur of the year
116th

6th

24th January 2017

174th

487th

In Wealth Creation

127th

Profit After Tax

Overall ranking

In PAT
356th
In Sales
437th

29 of 47
29 of 31

Total Income
Total Assets Ranking

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

24th January 2017

CIN No. - L24230MH1979PLC022059

NSE Symbol : AJANTPHARM ISIN: INE031B01031

BSE Symbol : AJANTAPH Code: 532331

30 of 31

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.

24th January 2017

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

31 of 31