Bilcare corporate presentation

Speed | Innovation | Happiness

Corporate PresentationMar 2014


2

Vision

Delivering Innovation - Transforming lives

Values

Speed

Proactive and swift action is our mantra

Innovation

Our constant approach at all levels is to seek better ways of listening, thinking & doing – making our offerings meaningful

& impactful

Happiness

We are motivated by our customer’s success & happiness of our stakeholders

Overview


Overview

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Global footprint with world-class production facilities in America, Europe and Asia


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Corporate Structure

Bilcare India

Bilcare Singapore

100%

Bilcare Inc. 100%

Bilcare Brazil 100%

Bilcare GmbH 100%

Bilcare SA 100%

Bilcare Technologies

80%

Bilcare Technologies

Italia92%

Bilcare Mauritius

100%

Bilcare Research AG

100%

Bilcare Research Srl.

100%

Bilcare Research Inc.

100%

Bilcare Research GmbH - 100%

Caprihans 51%


Business Verticles

6


7

Innovative Packaging Solutions

Integrated R&D consultancy and Solutions for the global pharmaceutical industry

Value based solutions for brand protection technologies and next generation packaging needs

Highly focused and targeted to address the unmet needs of the pharmaceutical industry

Intensive R&D efforts, complemented by excellent product development capabilities

Partnerships with external research institutes and experts of repute for establishing strong R&D capabilities

Continued investments in R&D as a core element for growth

R&D facilities spread across Pune – India, Changi – Singapore; Staufen & Botzingen - Germany

Our R&D Philosophy


Pioneer packaging division of Bilcare

Innovative packaging solutions to the Global pharmaceutical industry.

Offering a comprehensive range of specialty primary packaging materials

Pharma brand building solutions for sustained growth

Addressing key challenges of pharma clients on Counterfeit, Compliance, Communication, Convenience and Child resistant packaging

Worldwide leaders with Global footprints in Americas, Europe and Asia

Over 198 Patents filed worldwide

PHARMA PACKAGING Innovations (PPI)

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• First and only scientific packaging development study developed by Bilcare for the pharmaceutical solid dosage formulations

• Studies and quantifies degradation pattern of the final formulation and suggests optimal packaging using software based mathematical modeling

• Reliable tools to decrease time to market and offers the ability to select the optimal packaging from the beginning

• Precursor to stability study

Compliance

Counterfeit

Communication

Convenience

Child Resistant

9

Marketing initiativesto address the

Pharma brand challenges

PHARMA PACKAGING – Core Offering


Pharma Packaging - Range of products

Bilcare offers a complete range of high-quality packaging films. Our production standards are the highest in the business, with every film meeting complex and

ever dynamic pharmaceutical specifications

Flexible Packaging Films

• Pharma-grade Barrier films

• Extra (PVC), Duplex(PVC/PVdC), Triplex (PVC/PE/PVdC), Exel(PVC/PE).

• Ultra-high Barrier Film

• Aquaba

• Zymax TX.

• Eco-friendly Halogen-free Films

• Optra, Astra, Petra, Topas

Aluminum Foils

• Pharma-grade Cold-forming Foil

• Bilcare Venus (PVC/Alu/OPA)

• Pharma-grade Aluminium Liddingfoils

• Bilcare Zeon, Bilcare Zeon+, Bilcare Zeon xt

• Eco-friendly Lidding Foils

• Bilcare Nova, Bilcare SilNova, Bilcare MetNova

• Bilcare CR Lidding Foils

• Bilcare Crispak of various structures

Innovative Products

• Products to create brand identity with anti-counterfeiting features

• Bilcare Patina, Bilcare Ultra, Bilcare Ultra TX, Bilcare Protect, Bilcare Secure.

• Flexible Laminates

• Aclar

• Bilcare Lamiflex of various structures of paper, aluminum and polymerfilm combinations


Global Pharma Packaging Customers

GSK

Novartis

Merck

Sanofi Aventis

International Laboratories, Inc.

Laboratorios Leti S.A.

Reckitt Benckiser Healthcare

Laboratórios Cinfa, S.A.

Zaklady

CILAG

AstraZeneca

Bristol-Myers Squibb

Pfizer

Bluepharma

Bayer

Delpharm

Catalent

Johnson & Johnson

Pharma Packaging Customers - Global

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Packaging Films Solutions (PFS)

Leading suppliers of wide range

of rigid Mono and Multilayer

films for Food & FMCG industry

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Cards Solutions (CS)

High quality cores and overlays for

all kind of PVC Laminate Cards viz.

Magnetic swipe cards, Gift &

Loyalty cards, Banking Cards,

Playing cards etc.

Specialty Films Solutions(SFS)

High quality Films for sectors

such as Printing/ Decoration,

Shrink films, Visual packaging,

Technical applications, Office

materials and Furniture


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Highly differentiated, next-gen anti-counterfeiting solution

Large market opportunity

(approx 5% to 7% of the entire World trade is feared to be counterfeit *)

Globally patented proprietary technology having applications beyond anti-counterfeiting

Nationally and internationally recognized

(Pioneer status from Govt. of Singapore)

Razor sharp focus on operations

(Production capacity of over 1 Billion Chips )

Strong partner/channel focus to drive scale quickly

Highly experienced, talented and focused leadership team …

* http://www.unc.edu/courses/2010spring/law/357c/001/ACG/stats.html

nCID Technologies – for Brand Safety & Security

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The nonClonableID Chip cannot be duplicated ever!

Bilcare’s answer for Counterfeiting

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Metal materials-based “Signature” of micro nano particles

Serial Number

2D Data Matrix assigned to each

Signature

nonClonable Tamper -proof Chip for Identification &

Authentication

Captured by MO-Chip reader & stored in

Digitized form


Scanners and Mobile Device

Auto Components

Textile label

Client portal

Wine & Beverages

Pharma

Currency

Application across Industries

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Central Server

Tamper evident nCID

Chip

ID / Warranty / Loyalty cards

http://www.basscustom.com/images/WineCoasters/WineBottleWineCoaster.gif

http://www.basscustom.com/images/WineCoasters/WineBottleWineCoaster.gif


nCID Technology - Business Impact

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Global Clinical Supplies (GCS)

Bilcare GCS delivers end-to-end solution that supports a Drug through the

entire Clinical Trial life cycle

From pre-formulation to return & destruction accountability, our integrated

offerings are aimed at establishing our customer’s critical success factor –

speed to market


TRUST

TRUST

Services

Formulation development

Analytical & Research Services

Clinical Manufact.,

Packaging & Labeling

Interactive Voice & Web

Response System

Global Logistics &

Supply Chain Management

Depot Management

QP ServicesComparator

SourcingIn-sourcing

CTM Services

QUALITY FOUNDATION & INNOVATION

Bilcare GCS Service Offerings

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Bilcare GCS Facilities

FDA licensed facility to carry out CTMS activities like Manufacturing, Packaging & Labeling, Storage &

Distribution operations of clinical trial supplies

World class SOPs in line with USFDA & MHRA requirementsGCS Facilities - India

Packaging & Labeling facility Storage & Distribution

Bilcare GCS – Global S&D Network

In Aug 2012, United Drugs Plc acquired Bilcare’s Global Clinical Supplies business in US and UK for USD 61 Mn. while Bilcare retained its GCS Asia business.

Going forward, Bilcare GCS, Asia and United Drugs Plc. will work together to use their complementary resources to meet the needs of their global customers across US, Europe and Asia.


Financial Overview

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Share of International Business grown from 20% to 80% in the last 5 years

Transformation to a Global Company

Note: The above years denote Financial Year ending 31st March for that particular year

India13%

Overseas87%

Revenue Share 2014

India 63%

Overseas 37%

Revenue Share 2008

India28%

Overseas72%

Revenue Share 2011


Key Financial Parameters – P&L CONSOLIDATED (updated till 31st March 2014)

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169.0 208.0

455.0

712.9

653.5

511.8

0

100

200

300

400

500

600

700

800

2009 2010 2011 2012 2013 2014

Revenue (USD Mn)

38

51

74

95

72

43

0

20

40

60

80

100

2009 2010 2011 2012 2013 2014

EBIDTA (USD Mn)

4.95.9

4.12.9

1.50.5

0

5

10

15

2009 2010 2011 2012 2013 2014

Interest Cover (Times)

-20

-10

0

10

20

30

40

50

60

1 2 3 4 5 6

16 23 2927

7

-19

2433

46

5235

4

PAT & Cash Accruals (USD Mn)

PAT Cash Accruals

0.820.96

1.241.16

0.31

-0.8-1.00

-0.50

0.00

0.50

1.00

1.50

2.00

2009 2010 2011 2012 2013 2014

Earning Per Share (USD/ share)


Profit & Loss Account CONSOLIDATED

22

USD Mn.

Particulars31-Mar-11 31-Mar-12 31-Mar-13 31-Mar-14

Audited

Revenue (incl. other income) 455.20 713.34 653.50 511.76

Contribution 200.15 304.98 271.44 234.34

% of Revenue 44% 43% 42% 46%

Fixed Expenses 126.47 210.37 199.34 191.59

EBITA 73.67 94.61 72.10 42.75

% of Revenue 16% 13% 11% 8%

Interest 17.93 32.15 30.80 36.15

Depreciation 16.79 25.62 27.31 23.46

PBT 39.08 36.84 13.99 (16.86)

Tax 9.73 9.46 3.46 3.82

PAT 29.21 27.38 5.71 (18.86)


23Note: The above years denote Financial Year ending 31st March for that particular year

Key Financial Parameters – Balance Sheet CONSOLIDATED (updated till 31st March 2014)

99

170

218

290 281

243

0

50

100

150

200

250

300

350

2009 2010 2011 2012 2013 2014

Net Worth (USD Mn)

1.92

0.69

1.01 1.03

1.61 1.65

0.00

0.50

1.00

1.50

2.00

2.50

2009 2010 2011 2012 2013 2014

Debt/ Equity Ratio

0.0%2.0%4.0%6.0%8.0%

10.0%12.0%14.0%16.0%

2009 2010 2011 2012 2013 2014

15.8%

11.5% 10.9% 11.2%

6.7%

3.2%

Return on Capital Employed

0.00

0.20

0.40

0.60

0.80

1.00

1.20

1.40

2009 2010 2011 2012 2013 2014

0.46

1.17

0.60

0.96

1.391.50

Total Outside Liab/ Total Net Worth


Balance Sheet CONSOLIDATED

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USD Mn.


Audited

Equity Capital 4.60 4.60 4.33 3.92

Networth (incl. deferred tax) 244.00 301.67 277.01 238.82

Debt 238.42 267.90 391.99 364.53

TOTAL 487.02 574.17 673.33 607.27

Net Fixed Assets 282.24 320.01 430.34 397.47

Investments 0.04 0.02 0.02 0.02

Net Current Assets 204.74 254.14 242.98 209.78

TOTAL 487.02 574.17 673.33 607.27


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Key Financial Parameters – P&L STANDALONE INDIA (updated till 31st March 2014)

93

110

130

148

134

66

0

25

50

75

100

125

150

2009 2010 2011 2012 2013 2014

Revenue (USD Mn)

2632

3945

34

10

0

10

20

30

40

50

2009 2010 2011 2012 2013 2014

EBIDTA (USD Mn)

27%29% 30% 30%

25%

31%

20%

25%

30%

35%

2009 2010 2011 2012 2013 2014

% Margin

1215 17

15

1

-20-15-10

-505

101520

2009 2010 2011 2012 2013 2014

PAT (USD Mn)

1620 23 22

9

-9-20

-10

0

10

20

30

2009 2010 2011 2012 2013 2014

Cash Accruals (USD Mn)


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Profit & Loss Account Standalone IndiaUSD Mn.


Audited

Revenue (incl. other income) 129.57 148.33 133.70 65.64

Contribution 52.05 57.19 46.38 20.34

% of Revenue 40% 39% 35% 31%

Fixed Expenses 12.95 12.45 12.85 10.77

EBIDTA 39.17 44.74 33.53 9.57

% of Revenue 30% 30% 25% 25%

Interest 8.77 15.58 18.86 24.47

Depreciation 5.80 7.04 7.73 11.28

PBT 24.60 22.12 6.94 (26.18)

Tax 7.58 7.51 0.91 0.22

PAT 17.01 14.61 1.21 (20.21)


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Key Financial Parameters – Balance Sheet INDIA STANDALONE (updated till 31st March 2014)

84

153

176187

200

159

0

50

100

150

200

250

2009 2010 2011 2012 2013 2014

Net Worth (USD Mn)

1.10

0.560.60

0.68

1.41 1.44

0

0

0

1

1

1

1

1

2

2009 2010 2011 2012 2013 2014

Debt /Equity Ratio


Balance Sheet Standalone India

28

USD Mn.


Audited

Equity Capital 4.60 4.60 4.33 3.92

Reserves & Surplus (inccl. deferred tax) 191.28 204.03 195.40 155.37

Debt 106.08 126.86 251.48 204.32

TOTAL 301.97 335.49 451.21 363.61

Net Fixed Assets 99.90 118.88 261.61 239.00

Investments 128.44 132.79 127.76 113.67

Net Current Assets 73.62 83.82 61.83 10.94

TOTAL 301.97 335.49 451.21 363.61


Bilcare Limited

Worlds largest Pharmaceutical

Packaging Company

Business in over 100 countries

worldwide, and growing

Patented nCID Technology under commercialization

Focus on Research & technology

Strong Assets base and Profitability

numbers

29Bilcare Limited, 601, ICC Trade Tower, Pune, India (Corporate office)

www.bilcare.com

Bilcare corporate presentation

Healthcare

Transcript of Bilcare corporate presentation