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©2014 Dr. Reddy's Laboratories Limited. All Rights Reserved.
Q2 FY15PRESS MEET
Dr. Reddy’s Laboratories Limited
Oct 29, 2014
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Q2 FY15 PRESS MEET
Business Highlights
2YoY growth rate
Gross Profit
EBIDTA
58.0%
8%58.5%
950
872
3,357
7%3,588
Revenues
R&D
30137%
411 8%
28.3%
24.3%9.0%
11.5%
% of revenues Q2FY15Q2FY14
₹ Crs
₹ Crs
₹ Crs
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Q2 FY15 PRESS MEET
Business Highlights
US
1
India
2
Russia
& CIS
2
Europe
2
RoW
2
Country wise launches
2 3
3
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Q2 FY15 PRESS MEET
Global Generics: ₹ 2,887 Cr (9% YoYGr)
4
US₹ 1,429 Cr (8%)
Emerging Markets₹ 834 Cr (14%)
India₹ 480 Cr (14%)
Europe₹ 143 Cr (-19%)
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Q2 FY15 PRESS MEET
220Cumulative
ANDAs
72 Pendingfinal
approvals 45 Para IVs
11 First-to-Files (FTFs)
Global Generics: USMarket Share – Key Products
ANDA Pipeline
₹ CrRevenues
Product May Aug
Decitabine 62% 70%
Azacitidine 44% 54%
Zoledronic acid(5mg/100ml)
62% 56%
Ziprasidone 30% 48%
Metoprolol 19% 23%
Divalproex ER 11% 20%
Source: IMS total market share
Q2 FY 14 Q2 FY 15
1,324 1,429
8%
5
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Q2 FY15 PRESS MEET
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Global Generics: Emerging markets
₹ Cr Revenues
RUSSIA• YoY decline is primarily on account of
the devaluation of Rouble.
• IMS YTD Aug: Growth faster than themarket, both in unit and value terms
• IMS OTC YTD Aug: 4th fastestgrowing OTC company in Top 25(volume wise) with a growth rate of14% against a market growth of 1.4%
• OTC revenues at 34% to sales
RoW
• Venezuela: Revenues grew by 248% YoYin constant currency (103% unit growthagainst market growth of 1.3%)
Q2 FY 14 Q2 FY 15
465 413
269 421
Russia CIS & RoW
14%
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Q2 FY15 PRESS MEET
Q2 FY 14 Q2 FY 15
421 480
7
Global Generics: India
₹ Cr Revenues • Highest ever quarterly revenue.
• Healthy volume expansion in ourfocus brands
• 2 new products launched during thequarter
•
IMS MQT Aug 2014 growth of 8.8% vsIPM growth of 10.1%
14%
Key Product launches
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Q2 FY15 PRESS MEET
8
PSAI
• API: Stability in revenue with bettermargin profile and higherdevelopmental sales
• CPS: Improving performance
• 3 US DMF filings during the quarter
₹ Cr
Q2 FY 14 Q2 FY 15
640 639 DMFs Pipeline
US 215
Europe 184
RoW 304
Cumulative 703
Revenues
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Q2 FY15 PRESS MEET
9
CAPEX, R&D & Free cash-flows
Net Debt/Equity ratio
(Sep 2014)
0.10
% of revenues
591
767
1,240
388 411
FY 12 FY 13 FY 14 Q1 FY15 Q2 FY15
R&D ₹ Cr
6.1%6.6%
9.4%
11.0% 11.5%
695589
873
228 201
FY 12 FY 13 FY 14 Q1 FY15 Q2 FY15
Free cash flow ₹ Cr
686 667
1,008
217 233
FY 12 FY 13 FY 14 Q1 FY15 Q2 FY15
CAPEX ₹ Cr
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Q2 FY15 PRESS MEET
Q&A Session
Q FY
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Q2 FY15 PRESS MEET
11
P&L – Q2 FY 15₹ Cr
Particulars Q2 FY15 Q2 FY14 Gr%
Revenues 3,588 3,357 7%
Gross Profit 2,099 1,947 8%
% to revenues 58.5%
58.0%
SG&A 1,067 974 10%% to revenues 29.7% 29.0%
R&D 411 301 37%
% to revenues 11.5% 9%
EBITDA 872 950 -8.3%
% to revenues 24.3%
28.3%
PAT 574 690 -17%
% to revenues 16.0% 20.6%
Q FY
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Q2 FY15 PRESS MEET
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Key Balance Sheet Items₹ Cr
Particulars Sep’14 June’14
Cash, cash equivalents & other investments 2,874 3,295
Trade & other receivables 3,772 3,611
Inventories 2,812 2,532
Property, plant & equipment 4,656 4,535
Loans & borrowings (current & non current) 3,885 4,182
Trade & other payables 1,284 1,064
Equity 9,900 9,673
Q FY PRESS MEET
Q FY PRESS MEET
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Q2 FY15 PRESS MEET
THANK YOU
Q2 FY15 PRESS MEET
13
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