Download - Strides Corporate Presentation Aug 2013
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Active PresentFuture Positive
Investor PresentationAugust 2013
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Disclaimer
This presentation and the accompanying slides (the Presentation), which has been prepared by Strides Arcolab Limited (the "Company"), has been prepared forinformation purposes only and is not, and is not intended to be, an offer, or solicitation of offer, or invitation or recommendation to buy or sell any securities of theCompany, and shall not constitute an offer, solicitation or invitation or recommendation to buy or sell in any jurisdiction in which such offer, solicitation or invitation orrecommendation is unlawful. No part, or all, of this Presentation shall form the basis of, or be relied on in connection with, any contract or investment decision in relationto any securities of the Company.
Nothing in the foregoing shall constitute and/or deem to constitute an offer or an invitation to an offer, to be made to the Indian public or any section thereof throughthis document, and this document and its contents should not be construed to be a prospectus in India. This document has not been and will not be reviewed orapproved by any statutory or regulatory authority in India or by any stock exchange in India.
This Presentation is strictly confidential and may not be copied, published, distributed or transmitted to any person, in whole or in part, by any medium or in any form forany purpose. The information in this Presentation is being provided by the Company and is subject to change without notice. This Presentation has been prepared by theCompany based on information and data which the Company considers reliable, but the Company makes no representation or warranty, express or implied, whatsoever,and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be allinclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation isexpressly excluded.
This Presentation contains statements about future events and expectations that are forward-looking statements. These statements typically contain words such as"expects" and "anticipates" and words of similar import. Any statement in this Presentation that is not a statement of historical fact is a forward-looking statement thatinvolves known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from anyfuture results, performance or achievements expressed or implied by such forward-looking statements. None of the future projections, expectations, estimates orprospects in this Presentation should be taken as forecasts or promises nor should they be taken as implying any indication, assurance or guarantee that the assumptionson which such future projections, expectations, estimates or prospects have been prepared are correct or exhaustive or, in the case of the assumptions, fully stated in thePresentation. The Company assumes no obligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions orchanges in factors affecting these statements.
You acknowledge that you will be solely responsible for your own assessment of the market, the market position, the business and financial condition of the Company andthat you will conduct your own analysis and be solely responsible for forming your own view of the potential future performance of the business of the Company.
This Presentation speaks as of 30th June 2013. Neither the delivery of this Presentation nor any further discussions of the Company with any of the recipients shall, underany circumstances, create any implication that there has been no change in the affairs of the Company since that date.
This Presentation is not being made and will not be made directly or indirectly in or into, or by use of the mails of, or by any means or instrumentality of interstate orforeign commerce of, or any facilities of a national securities exchange of, the United States. This includes, but is not limited to, facsimile transmission, electronic mail,telex, telephone and the Internet. Neither this Presentation nor any copy of this Presentation is being, and must not be taken or transmitted into the United States ordistributed, directly or indirectly, in the United States. The information presented herein is not an offer for sale within the United States of any equity shares or othersecurities of the Company. No offering of the Companys securities is being made nor will any offering of the Company's securities be registered under the U.S. SecuritiesAct of 1933, as amended (the Securities Act). Accordingly, unless an exemption from registration under the Securities Act is available, the Companys securities may notbe offered, sold, resold, delivered or distributed, directly or indirectly, into the United States.
The distribution of this Presentation in certain jurisdictions may be restricted by law and persons into whose possession this Presentation comes should inform themselvesabout and observe any such restrictions
Local market value (LMV) is provided as a reference for assessing the overall market value for a particular type of pharmaceutical product. It should not be consideredas an indicator of Strides sales of any its pharmaceutical products or the expected performance of such products in the future. Extrapolation of performance for aparticular product from LMVs for such types of products, is an inappropriate use of LMV data. There can be no assurance that our approved pharmaceutical products willbe successfully commercialized, or that our current filings will be approved
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Introduction
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169 172 222
326
427
FY08 FY09 FY10 FY11 FY12
Company overview
A leading Indian Pharmaceutical company operating in two major segments:
Specialties and Pharma
Offers wide range of products covering Orals, Semi Solids and Specialty
injectables including Beta-lactams, Cephalosporins, Oncolytics and Penems
Has one of the largest Lyophilzation (freeze drying) capacities in the world
Amongst the leading manufacturers of Soft Gelatin capsules in the world
Partnerships with leading global players like Pfizer, GlaxoSmithKline, Aspen,
Novartis, Sandoz, and Teva
Overview
Filings & approvals track record (ANDA)Geographical presence: 14 manufacturing plants+
marketing operations in 75 countries
Amongst highest steriles approvals in the industry
Revenue growth (USD mn)
1. Campos, Brazil2. Lagos, Nigeria3. Bangalore, Hosur & Mumbai, India4. Milan, Italy5. Warsaw, Poland
Plant locations
Marketing presence
5 Yr CAGR 26%
259* filings
110* approvals
4
2012 Revenues by Geography*
* Excludes Divested Australasia Business *includes purchased and divested ANDAs
INR/USD rate = 53.59
Africa,
10% Austral
asia ,
11%
North
America
, 32%Europe,
13%
South
America,
15%
ROW,
8%
ATM,
12%
* Excludes divested Ascent Australia operations
1
27
12
33
46
30 31
74
51
815
9
2227 25
3
2005 2006 2007 2008 2009 2010 2011 2012 2013
Filings Approvals
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Business overview and structure
Specialties business (steriles)
Pharma and Branded Generics business (non-steriles)
2012 Revenue 2012 EBITDA 2012 Revenue 2012 EBITDA
Founded in 1990, Headquartered in Bangalore, India
2012 revenue of USD 436Mn and EBITDA of USD 106Mn
Listed on the Indian stock market since 2000
Restructured business into Pharma and Specialties in 2009
Legacy business of Strides established in 1990
Develops and manufactures immunosuppresants and soft gelatincapsules for regulated markets and antiretrovirals, anti-tuberculosis and anti-malaria drugs for programmes funded bydonor agencies such as PEPFAR and Global Fund
Commercial platform for the sale of branded and commoditygenerics, OTC and cosmeceuticals across Australia, Southeast Asia,Africa and India
Five global manufacturing plants in India, Italy and Nigeria,including one of the largest capacities in soft gelatin capsules withapprovals from the US FDA and other key regulatory authorities
Rebranded in 2010 as Agila to reinforce Strides focus onemerging as a sterile-driven pharmaceutical company
Develops and manufactures sterile injectable generics andspecialties for its B2B and B2C business across therapeutic areas,including anti-infectives, oncology, antibiotics, steroids,cephalosporins, CNS, gastro intestinal, ophthalmics and peptides
Nine global manufacturing facilities in India, Brazil and Poland,including one of the largest steriles capacity in India and amongstthe largest lyophilisation capacities globally
Entered into a definitive agreement with Mylan for sale of itsspecialty subsidiary at an aggregate sum of USD 1.6bn in cash &potential consideration of upto USD 250Mn
5
42%USD 181Mn
19%USD 20Mn
58%USD255Mn
81%USD 86Mn
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3352
80 8699
142162
202
248
329
481
436
1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012*
Combined revenues
Strides history and achievements
1994-2003 2008 onwards2004-2008
We continue to focus on pursuing Niche Value. With strong capabilities and commitment, we strive to deliver a cost-efficient operating model aligning consistent innovation and affordable medical care
Specialised manufacturing
Commenced manufacturing of steriles, soft gelatin capsules and anti-retroviral, tuberculosis and malaria drugs
Bolt-on acquisitions of manufacturing capacity
Regulated markets
Restructured into Pharma and Specialties with increased focus on Steriles business
Commercial partnerships with global pharma for regulated and emerging markets
Front ending in select geographies of North America, EU, Brazil, India & Asia
Monetised significant value creation and strengthened Balance sheet by sale of Australasia business to Watson
Front-end acquisitions and R&D pipeline
Acquisition and integration of front-end platforms in Southeast Asia (DHA), Australia (Ascent) and India (Grandix)
Acquisition of manufacturing facilities in Poland and Italy
Significant investment in building R&D pipeline for regulated markets (Pharma and Steriles)
(breakdown only available after 2007)Pharma
6
USD Mn
Founded in 1990 as a finished dosage formulation company focused on Africa
Specialties
* Divested Ascent Australasia operation to Watson in Jan 12 for AUD 375Mn
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Significant investments completed in
manufacturing facilities
Significant investments completed in
specialties space
Recently FDA approved facilities will
accelerate the developed markets strategy
Focus on R&D resulting in industry leading
formulation expertise
Proven R&D capabilities for developed
markets
Employs around 350 scientists in its R&D
department, delivering average 35 ANDAs
annually
Partnership with Big Pharma
Partnerships with pharmaceutical majors
such as Pfizer, GSK, Novartis, Teva &
Aspen in US, Europe, Australia, LATAM,
and South Africa
Partnerships with Pfizer and GSK validates
Strides niche capabilities in sterile
injectables and pharmaceuticals portfolio
Targeting products with significant demand
Increasingly targets products that are (i) in
short supply (ii) near term patent expiries
(iii) difficult to manufacture segments
Moving towards larger sized molecules
Solid track record of regulatory compliance
Successful inspections by USFDA/EMEA/PIC
over the last few years.
Continue to maintain strong track record in
all Regulatory inspections.
Integrated capabilities spanning entire
product development cycle
Full services provider from identifying
business opportunities to product approval
and commercialization
Diversified portfolio across Specialties and
Pharma offers stability
Offers wide range of products covering
Orals, Semi Solids and Specialty injectables
including Beta-lactams, Cephalosporins,
Oncolytics and Penems
Broad product portfolio is critical for getting
GPO contracts in the US (Strides has a
contract for sterile injectables with Premier)
Solid track record of filings and approvals
259 ANDA filings (213 in steriles) and 110
Approvals (83 in steriles)
Branded generics product registrations:
300+ in Africa
1 2 3
6 5
4
7
8
Strides Key differentiators
7
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Specialties Business
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12
3
4
14
17
19
19
27
30
30
34
42
73
Sanofi
Watson
B Braun
Amgen
ACS Dobfar
Teva
Bedford
Mylan
Luitpold
Fresenius
Hikma
Hospira
Sandoz
Strides
Steriles - Snapshot
One of the most competitive steriles franchise
globally with 9 manufacturing facilities
Key strengths
One of the largest lyophilization (freeze drying)
capacities in the world
Full services player with a well diversified portfolio
Track record of filing average 40 ANDAs annually
in the last three years
Significant investment in manufacturing facilities
completed
Long term customer contracts and joint ventures
to provide stable revenue stream
High Potency Drugs (Oncology,
Peptides and Controlled
Substances)
Antibiotics
Penems & Penicillins
Cephalosporins
Suspension injections
Oncology
Minibags
Ophthalmics and Peptides to
be new domains
Product categories Wide range
Packaging formats All major types
Vials Liquid & Dry Powder
Pre filled syringes (PFS)
Ampoules
Market leading ability to package
in lyophilized form
Focus on pre filled syringes
and lyophilized formats
FDA injectables ANDA approvals by company 2008 to July2012
Note: * Includes product approvals with JV partners & ANDAs sold to Pfizer in Dec 2010
Source: Approval data sourced from US FDA9
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Strategy focused on capturing higher value business and sustainable growth
Initial phase (2006 2008)Phase-I
[2005-2007]Phase-II
[2008-2010]Current Phase [2011 onwards]
PRODUCT FILINGS
MFG.CAPABILITIES
STRATEGY
SegmentNos of Filings
LMV$bn
Avg LMV$mn
Steriles 25 0.3 12
Oncology - - -
Pens & Penems 1 0.2 221
Ophthalmics - - -
Total 26 0.5
Building Global manufacturing
capabilities for Steriles , Cephalosporin's
& Beta lactams
Focus on Niche small value opportunistic
products with distribution of products
through JV model
SegmentNos of Filings
LMV$bn
Avg. LMV$mn
Steriles 46 2.2 47
Oncology 31 2.0 65
Pens & Penems 8 0.3 38
Ophthalmics - - -
Total 85 4.5
Consolidation and expansion of
Global manufacturing capabilities for
Steriles Injectables and Oncology
Focus on large value Niche Sterile and
Oncology products
Partnering with Big Pharmas Pfizer,
Teva etc with profit sharing
arrangement
10
SegmentNos of Filings
LMV$bn
Avg. LMV$mn
Steriles 79 9.3 118
Oncology 8 1.3 163
Pens & Penems
2 0.04 20
Ophthalmics 13 0.9 69
Total 102 11.5
High value creation domains
Biosimilars
Devices and delivery systems
Para IV & 505b(2)
To emerge as a first wave player for
most products going off-patent
Strengthening partnership for new
products/partners & new
Geographies
Building front ending business in
select geographies of USA, UK,
Canada, Asia, Turkey, Indonesia,
India, Nordic and Brazil
Continuing Licensing opportunities
in selected domains
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10 11
103
58
181
232
58
205
422
Lyo (Incl-Onco) Liquid Vials Other Steriles
C
a
p
a
c
i
t
y
i
n
m
i
l
l
i
o
n
u
n
i
t
s
FDA approved capacity Year 2010 Current FDA approved capacity Total Capacity
5.8X 16.5X 2.3XCapacity expansion
Plant Year Approval Status
Sterile Product Division I
2007, 2009, 2011
Approved
Penicillin, Bangalore 2008 Approved
Cephalosporin 2009 Approved
Sterile Product Division -II 2011 Approved
Oncology 2011 Approved
Penems, Brazil 2012 Approved
Sterile Product Division -Hosur
2011 Approved
Poland 2012 Approved
USFDA Inspection Status
Well positioned in the industry where regulatory challenges are high
Significant FDA Approved capacitiesInvestments towards additional 561m sterile units capacity completed
Lyo (Non-Onco) Liquid Vials Other Steriles
11
-
197
2242
21 30
67
50
20
40
60
80
2006 2007 2008 2009 2010 2011 2012 H1'2013
12
Well Positioned For Regulated Markets Opportunity
Increasing focus on high value products
NUMBER OF ANDA FILINGS (LMV - $16.5 Bn) NUMBER OF ANDA APPROVALS (LMV- $3.5 Bn)
CUMULATIVE LMV OF ANDA APPROVALS (US$ BN)
Oncology - - 3 20 7 7 1 -
Steriles 19 7 19 22 14 23 67 5
Patented - - 3 3 3 5 19 4
Matured 19 7 19 39 18 25 49 1
Oncology - - - - - 12 15 -
Steriles - 1 13 5 16 13 6 2
Patented - - - - 1 1 - 1
Matured - 1 13 5 15 24 21 1
Oncology 1.9 2.1 2.1
Steriles 0.0 0.2 0.3 0.7 0.8 0.9 1.4
Patented - - - - 0.07 0.1 0.1 0.6
Matured 0.0 0.23 0.26 0.59 2.6 2.9 2.9
Filings Approvals
Steriles Oncology Steriles Oncology
Europe 42 41 22 21
ANZ 29 16 23 13
South Africa 71 17 33 1
Canada 24 22 16 13
Africa 195 22 144 20
Korea 1 24 - 19
Latin America 215 1 156 1
ROW 201 198 115 62
Total 778 341 509 150
Number of filings & Approvals in other Established and Emerging markets
1 135 16
25
212
0
5
10
15
20
25
30
2006 2007 2008 2009 2010 2011 2012 H1'2013
213* 83*
0.0 0.00.2 0.3
0.7
2.73.0
3.5
2006 2007 2008 2009 2010 2011 2012 H1'2013
Note: LMV (Local Market value): sales in US$ of equivalent products already being sold in the market, whether patented or generic.LMV is not an indicator of Strides expected sales; 12
-
On Thursday, 28 February 2013, Strides Arcolab announced that it has entered into a definitive agreement for
the sale of its specialties subsidiary, Agila Specialties Private Limited, and simultaneously its overseas specialties
subsidiary Agila Specialties Asia Pte. Limited, Singapore, has entered into a definitive agreement for the sale of
its subsidiaries, to Mylan Inc.
Aggregate sum of US$1,600 million in cash and potential additional consideration of up to US$250 million subject
to the satisfaction of certain conditions by Strides
At the base consideration, the transaction values Agila at 18.7x total EBITDA for the year ended 31
December, 2012
The transactions have been independently approved by the respective Board of Directors of Strides, its overseas
subsidiary and Mylan Inc.
The companies being divested recorded, in the aggregate, revenue of $255 million and EBITDA of $86 million for
the year ended 31 December, 2012
Closing of the transactions are conditioned upon Foreign Investment Promotion Board approval, customary anti-
trust approvals and other closing conditions. The transactions are not subject to financing conditions
The transactions do not include Agila Biotech
Pharma and Biotech business to be future growth areas for Strides
13
Value Creation - Sale of Agila Specialties division for an aggregate cash sum of US$1,600 Mn and potential additional consideration of up to US$250 Mn
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Building knowledge base1996-2000
Opened first sterile facility
Focus on contract manufacturing
Investment in infrastructure
2001-2007
Defocused contract manufacturing
Decision to target regulated markets
Investment in R&D
Joint ventures
Accelerated filings and approvals2008-2011
Large value niche sterile and oncology products
Market-leading track record of filings and approvals
US FDA facility approvals
Big Pharma partnerships
Growth and profitability2012-onwards
Stable cash flows
Amongst the largest generic injectables pipelines
Best-in-class manufacturing, R&D and operations infrastructure
Strides Arcolab Limited (As at 27 February, 2013) Agila Specialties
Enterprise Value Consideration(1)
US$1,329
million
US$1,600
million
Creation of a Global Leader in Generic Injectables
Value Crystallisation
Source: CapIQ. ( 1) Excludes potential additional consideration of up to US$250 million.
14
Crystallising Significant Value Created at Agila
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Following successful closing of the transaction, Strides Arcolab proposes to utilise proceeds towards
inter alia:
Retiring debt
Pre-tax distribution of approximately US$700 million to US$800 million to shareholders
Costs related to the satisfaction of contingent conditions
15
Proposed Use of Proceeds Post Closing
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Pharma Business
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Segments Overview and Key Growth Drivers
Leading generics platform focused on soft gelatin and immunosuppressants for theUS and European markets
Strong R&D capabilities with US FDA approved manufacturing infrastructure
Exhaustive pipeline focused on products with high entry barriers to drive growth
Pharma Generics
Emerging as a regional player in Southern India in niche branded pharmaceutical products
Portfolio of recognised brands in fast growing therapeutic segments
India Brands
Leading sales and marketing platform for branded generic pharmaceuticals and over-the-counter medicines across Central and Sub-Saharan Africa
Growth driven by launch of new products, expansion into new markets, and establishing local manufacturing
Africa Business
Agila Biotech marks the foray of Strides Arcolab into the biologics space
Planned investments for setting up a next-generation biologics facility in Johor, Malaysia , and to build a 15,000 sq. ft. state-of-the-art R&D facility in Bangalore
Agila Biotech
17
Strides Arcolab The Road Ahead for Pharma Division
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18
18
Market Overview
Biologics* market expected to grow at a CAGR of 8%-10% during 2010 to 2025, against 4%-
6% for total pharmaceutical market
Biologics worth $ 59 Billion to lose patent protection by 2015
Biologics market expected to touch $227 billion by 2015 against $126 billion in 2009
Biosimilars# market expected to touch $13 billion by 2015
6 Biosimilars already approved and commercialized in EU
Agila Foray into
Biosim DomainAcquired 100% controlling stake in Inbiopro-a biotechnology focused company
Competitive
Advantage
Immediate access to a pipeline of 8 products, estimated to have global sales of US$ 28 billion,
with commercialization expected to begin in 2014
The products include 5 monoclonal antibodies which have use in cancer treatment further
strengthening Strides oncology products basket
Facilities access to high expression mammalian and microbial platform-based capabilities
High yielding cell lines in-licensed and improved upon
Definite advantage in the biologics industry, which is characterized by specialized expertise in
recombinant DNA technology and manufacturing process development with stringent and well
defined regulatory guidelines ,resulting in long gestation periods for product development
Manufacturing Facility
Executed agreement with Malaysian Bio-Xcell for establishment of customized facility to
manufacture Biopharmaceuticals and sterile Injectables in the Bio-XCell ecosystem in Johor,
Malaysia.
Facility will be built by Bio-XCell to the design requirements of Strides and will be leased out to
Strides on a long-term basis with lease rentals applicable from the date of commercialization
Agila BiotechBiosimilars Unfolding Opportunities
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Agila Biotech marks the companys foray into the biologics space
Biologics represent the fastest growing market segment in Pharma accounting for six out of top ten
selling global drugs, with patents on first generation biologics expiring by 2020
Planned investments:
Next-generation biologics facility in Johor, Malaysia an advanced end-to-end multi-product
facility for the production of recombinant therapeutic proteins and monoclonal antibodies
(mAbs) from drug substance to drug product in vials, pre-filled syringes and lyophilised
products. Expected to come on-stream by end-2014, with significant capacity already
advance booked for partner operations
R&D facility in Bangalore capable of handling high-end research activities, catering to an
internal pipeline as well as partnering activities
Developing an internal pipeline of biosimilars, utilising the latest bacterial and mammalian
expression systems
19
Agila BiotechFuture Focus Area and Growth Drivers
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Globally
competitive
Amongst the leading manufacturers of soft gelatin capsules in the world
Supplies oral products to regulated markets
Product
development
capability
Develops and manufactures different orals presentation forms and therapeutic categories
Softgel caps, tablets & capsules and semi solids
Strength in Immunosuppressants (2 Approved ANDA commercialized)
Among the first generic companies to get FDA Approval for Vancomycin Capsule ( LMV $300Mn)
47 ANDA (24 PEPFAR) filings till date of which 26 (19 PEPFAR) have already been approved
Stable revenue
stream
Orals plants can support growth with limited Capex requirements going forward
Large number of product filings completed
Long term customer contracts to provide stable revenue stream
Intellectual property led manufacturing partnership in USA, UK, Australia, New Zealand and South Africa
Manufacturing
overview
One of largest softgel capacities in the world with five dedicated lines in Orals Drug facility in Bangalore, India
Facility approved by major regulatory authorities such as USFDA, MHRA, MCC, TGA and ANVISA
EU approved semi solids facility in Milan, Italy
Soft gels Global disease initiative (AIDS/TB/Malaria)
Manufacturing
Pharma Business
20
Pharma Generics
-
Africa India
Description
Leading player manufacturing and marketing
volume driven generics and margins driven
branded products
Emerging as a niche player in branded
pharmaceutical products
Manufacturing2 dedicated facilities: 1 in Lagos, Nigeria and
1 in India
Orals plant in Bangalore also used for
manufacturing branded generics
FootprintWest Africa, French Africa & other parts of
Africa
Grandix has presence in 5 states in South
India
Products
Branded generics, Commodity generics and
OTC products marketed through own sales
team in partnership with local distributors
French Africa business is front ended
comprising ethically promoted and OTC
products
Grandix covers therapeutic areas of
diabetes, cardiovascular diseases,
neurology and female healthcare
Sales USD 27Mn USD 12Mn
Ownership 80% stake (20% invested by Proparco, a
French Development Financing Institution for
USD 12.5 Mn valuing African operation at
USD 60Mn)
100% stake
Africa and India BrandsRegional Sales exceeding USD 39Mn
21
-
22
USD Million
H113 vs H112 - Actuals2013 Guidance
USD 36
Mn
USD 182 Mn
Consolidated Revenue
Consolidated EBITDA
Financial Snapshot - Pharma BusinessPerformance ahead of Guidance
75
84
H1'12 H1'13
Revenue
10
18
H1'12 H1'13
EBITDA
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Group Overview
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Strides Global Organization
Strides Arcolab
Agila Biotech Agila Specialties
9 Global Manufacturing
Assets
Front-end Business
IP led Partnerships
Research & Development
5 Global Manufacturing
AssetsIndia Brands Africa Brands
Wholly Owned Subsidiary
24
Customer focused business organization with dedicated management team
Pharma Business
Wholly Owned Subsidiary
-
Key Performance IndicatorsRobust Performance across
Revenue from operations
Profit after tax
Operational EBITDA
Margins trend
25
EPS
USD Million
29
74
77
105
11
14
20
0
39 60
97
105
2009 2010 2011 2012
172 222 326
427 76 108
155 8
248
329
481 436
2009 2010 2011 2012
40.05 40.23
57.74 58.08 58.80
0.50 0.49 0.49 0.72
2.69
-
0.50
1.00
1.50
2.00
2.50
3.00
2008 2009 2010 2011 2012
-
10.00
20.00
30.00
40.00
50.00
60.00
70.00
Outstanding Shares EPS
Divested Ascent Operations Group Excluding Divested Ascent Operations
Note: CAGR excluding divested Ascent operations
*Includes Profit on sale of Ascent Australasia operations
16%
22%20%
24%
2009 2010 2011 2012
20 23 42
158
2009 2010 2011 2012
-
USD Million
Strengthened Balance Sheet post Ascent transactionNet Debt/Equity at 0.70 in 2012 vs 1.68 in 2011
26
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Governance @ Strides
Six out of Eight Board Members are
Independent and Non-Executive
Strategic themes across the Group are
driven by Global Leadership Committee
(GLC)
Empowered Business Management
team with end to end accountability
Integrated Management Review from
Operations to External Reporting
Annual Report received consecutive
recognitions for disclosure and
presentation of financials.
Eminent Independent Directors
Deepak Vaidya Chairman of the Board
Was Country Head of Schroder Capital Partners (Asia) Pte. Ltd.
M.R Umarji Chairman of the Audit Committee
Was Executive Director at RBI. Presently the Chief Legal Advisor
to the Indian Banks Association
S Sridhar
Was CMD of Central Bank of India, ED & COO of Exim Bank,
CMD of National Housing Bank.
P.M. Thampi
Was Chairman and Managing Director of BASF India
A.K Nair
Was MD of KSIDC. MD of Kerala Chemicals and Proteins Limited
Mukul Sarkar
Exim Bank Nominee. General Manager and Group Head, Exim Bank
Corporate Governance
27
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28
Sale of Ascent
Pharma
Sale of Agila
A 700% increase in the
Market Cap over 5
years, significantly
outpacing the BSE
increase of 10% over
the same period
Strides (market share price in USD)
Sensex (indexed to Strides)
Investment Phase
Source: BSE,India.
28
Strides has Delivered High Value Creation to its Shareholders
0
5
10
15
20
25
1-Feb-08 1-Dec-08 1-Oct-09 1-Aug-10 1-Jun-11 1-Apr-12 1-Feb-13
-
Shareholding Pattern
29
as of 30th June 2013
-
Thank You
Strides Arcolab LimitedStrides House, Bilekahalli, Bannerghatta RoadBangalore 560076, IndiaTel: +91 80 67840738 / 67840290Fax: +91 80 67840200Web: www.stridesarco.com