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X-Ray Equipment Market India

February 2015

Executive Summary

Market

Drivers &
Challenges

Government
Regulations

X-ray equipment market in India is expected to grow at a CAGR of x% from 2013 to 2019e in
value-terms and at a CAGR of y% in volume-terms during the same period
Market is segmented into analog and digital models with digital models growing at a significantly
higher rate compared to analog models
Superior features of digital models have made them the more preferred alternative and they are
rapidly replacing analog models in most medical establishments

Drivers:
Growing number of hospitals and diagnostic centers
Increasing occurrence of road accidents
Increasing number of osteoporosis patients
Advancements in technology and innovation
Convenient and time saving
Installation procedure
Personnel requirements and duties
Safety measures
Major Domestic Players

Competition

Challenges:
Hazardous radiation
effects
Poor after sales service

Major Foreign Players

Company 1

Company 3

Company 5

Company 2

Company 4

Company 6

X-RAY EQUIPMENT MARKET IN INDIA 2015.PPT

Macroeconomic Indicators
Introduction
Market Overview
Export-Import
Drivers & Challenges
Government Regulations
Competitive Landscape
Strategic Recommendations
Appendix
X-RAY EQUIPMENT MARKET IN INDIA 2015.PPT

Macroeconomic Indicators (1/3)

GDP at Factor Cost: Quarterly
INR tn
16
15

a4

14

a3
a2
a1

13

d3
d2
d1

c3
c2
c1

b3
b2
b1

12

Q1

Q2
2011-12

2012-13

2013-14

Q3
2014-15

Q4

Inflation Rate: Monthly

%
2
1

0
-1

-t

-2

Jul 2013 - Aug 2013

Aug 2013 - Sep 2013

Sep 2013 - Oct 2013

Oct 2013 - Nov 2013

X-RAY EQUIPMENT MARKET IN INDIA 2015.PPT

Nov 2013 - Dec 2013

4

Market Overview (1/7)

X-Ray Equipment Market Overview (1/2)
Indian X-ray equipment market is showing steady growth and provides strong opportunities to existing and potential
players
In terms of value, the market is forecasted to grow at a CAGR of x% between 2013 and 2019, reaching INR k mn in
2019 from INR d mn in 2013
Analog equipment which presently accounts for a large share of the market will face low demand in future
Indian x-ray equipment market is less developed than the US, European, and Chinese markets as these markets
transitioned to the digital technology at a much faster rate

Market Size & Growth (Value-Wise)

INR mn

Segment 1

Segment 2

5,000

+x%

4,000
3,000

a
a2%

2,000
1,000

a1%

g2%

h2%

i2%

j2%

k
k2%

b2%

c2%

d2%

f2%

b1%

c1%

d1%

f1%

g1%

h1%

i1%

j1%

k1%

2011

2012

2013

2014e

2015e

2016e

2017e

2018e

2019e

0
2010

X-RAY EQUIPMENT MARKET IN INDIA 2015.PPT

Earnings arising out of exports of x-ray equipments has

continued to be higher
Exports Overview

Export of X-ray Equipments

Unlike most other medical instruments, in case of xray equipment, exports are clearly higher than
imports

8,000

Domestic manufacturers earn high revenues by exporting

their products
However, in 2013-14 exports experienced a slight decline
compared to 2012-13

6,000

Country 1 has been the biggest export hub for Indian

manufacturers followed by Country 2 and Country 3

Export Value (Region Wise: 2012-13)

a1%

Country 3
Country 4
Country 5

c1%
b1%

000 units
s2

60

q2
p1

2,000

r1
q1

s1

40
20
0

2010-11

2011-12

2012-13

2013-14

Export Value (Region Wise: 2013-14)

Country 1

i2%

Country 2

g2%
d2% f2% h2%

Country 3
a2%

Country 4
Country 5

c2%

Country 6

Country 6

Country 7

Country 7

Others

100
80

4,000

Country 2

g1%
h1%

Value
r2

p2

Country 1

i1%
f1%
d1%

Volume

INR mn

b2%

X-RAY EQUIPMENT MARKET IN INDIA 2015.PPT

Others

Drivers & Challenges Summary

Drivers
Growing number of hospitals and
diagnostic centers

Challenges

Increasing occurrence of road

accidents

Hazardous radiation effects

Increasing number of osteoporosis

patients

Poor after sales service

Advancements in technology and

innovation
Convenient and time saving

X-RAY EQUIPMENT MARKET IN INDIA 2015.PPT

Government Regulations Summary

Installation procedure

Government
Regulations
Personnel requirements
and duties

Safety measures

X-RAY EQUIPMENT MARKET IN INDIA 2015.PPT

Market Competition Porters Five Forces Analysis

Impact
High
Threat of New Entrants

Impact
Low

Bargaining Power of Suppliers

Impact
Medium

Competitive Rivalry

Impact
Medium

Bargaining Power of Buyers

Impact
Low
Threat of Substitutes

X-RAY EQUIPMENT MARKET IN INDIA 2015.PPT

Competitive Benchmarking (1/4)

Key Ratios of Top 3 Companies Operational Basis (FY 2013) (1/3)
Operating Margin

Net Margin

25

a1

20
15
b1

10
5

a2

0
Company 1

b2
Company 2

a3

b3
Company 3

Allengers Medical Systems Ltd. recorded operating margin of a1%, higher than that of Philips Electronics India Ltd. and
Agfa HealthCare India Pvt. Ltd. which recorded operating margin of a3% and a2% respectively
Net margin was highest for Allengers Medical Systems Ltd. which recorded a net margin of b1%, followed by Philips
Electronics India Ltd. and Agfa HealthCare India Pvt. Ltd. which recorded net margin of b3% and b2% respectively

X-RAY EQUIPMENT MARKET IN INDIA 2015.PPT

10

Public: Foreign Company Company 1

(1/4)
Company Information

Offices and Centres India

Corporate Address

Tel No.
Fax No.
Website
Year of Incorporation
Ticker Symbol
Stock Exchange
Head Office

Products and Services

Category
Medical Imaging
Laboratory
Diagnostics
Therapy Systems

Products/Services

Key People
Name

Designation

Person 1

Chairman

Person 2

Chief Executive Officer and

Managing Director

Person 3

Chief Financial Officer and

Executive Director

X-RAY EQUIPMENT MARKET IN INDIA 2015.PPT

11

Public: Foreign Company Company 1

(2/4)
Financial Snapshot
Total Income

INR mn
150,000

Key Ratios

a2

b2

Net Profit / Loss

INR mn
10,000

c2

d2

100,000
50,000

8,000
6,000

b1

a1

c1

d1

4,000
2,000

2011

2012

2013

2014

Financial Summary
It reported total Income of INR XX mn in FY 20XX, registering a decrease of
X per cent over FY 20YY
It earned an operating margin of X.X per cent in FY 20XX an increase of X.X
percentage points over FY 20YY
It reported debt to equity ratio of X.XX in FY 20XX, an increase of X.X per
cent over FY 20YY

2014

2013

2012

2011

Profitability Ratios
Operating Margin
Net Margin
Profit Before Tax Margin
Return on Equity
Return on Capital Employed
Return on Working Capital
Return on Assets
Return on Fixed Assets
Operating costs (% of Sales)
Administration costs (% of
Sales)
Interest costs (% of Sales)

Liquidity Ratios
Current Ratio
Cash Ratio

Leverage Ratios
Debt to Equity Ratio
Debt to Capital Ratio
Interest Coverage Ratio

Financial Summary
Market Capitalization (INR mn)
Total Enterprise Value (INR mn)
EPS (INR)
PE Ratio (Absolute)

y-o-y change
(2014-13)

Cost Ratios

The company earned a net profit of INR XX mn in FY 20XX, as compared to

net profit of INR Y mn in FY 20YY

Indicators

Particulars

Value (05/01/2015)

Efficiency Ratios
Fixed Asset Turnover
Asset Turnover
Current Asset Turnover
Working Capital Turnover
Capital Employed Turnover
Improved

X-RAY EQUIPMENT MARKET IN INDIA 2015.PPT

Decline

12

Public: Foreign Company Company 1

(3/4)
Key Business Segments
Infrastructure

Key Geographic Segments

Energy

Industry

Healthcare

India

Outside India

100%

100%
50%
0%

a1%

a2%

a3%

b1%

b2%

b3%

c1%
d1%

c2%
d2%

c3%
d3%

2012

2013

2014

50%
0%

p1%

q1%

r1%

s1%

p2%

q2%

r2%

s2%

2011

2012

2013

2014

Business Highlights
Description

Details

Overview

X-Ray Products

New Launches

X-RAY EQUIPMENT MARKET IN INDIA 2015.PPT

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Public: Foreign Company Company 1 SWOT Analysis

(4/4)

X-RAY EQUIPMENT MARKET IN INDIA 2015.PPT

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Private: Domestic Company Company 2

(1/5)
Company Information

Offices and Centres India

Corporate Address
Tel No.
Fax No.
Website
Year of Incorporation

Products and Services

Category

Head Office

Products/Services

Key People
Radiology
Name

Designation

Cardiology

Person 1

Chairman and Managing Director

Surgery

Person 2

Additional Managing Director

Neurology

Person 3

Whole-Time Director

Person 4

Whole-Time Director

X-RAY EQUIPMENT MARKET IN INDIA 2015.PPT

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Private: Domestic Company Company 2

(2/5)
Shareholders of the Company
Name

Ownership Structure
No. of Shares held

Category 1

Category 2

Category 3

Category 4

Shareholder 1
Shareholder 2

b%

c%
d%

Shareholder 3
Shareholder 4
Shareholder 5

Shareholder 6
Shareholder 7
a%
Shareholder 8
Total

X-RAY EQUIPMENT MARKET IN INDIA 2015.PPT

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Private: Domestic Company Company 2

(3/5)
Financial Snapshot

Key Ratios

Total Income

INR mn

b2

a2

c2

b1

a1

150
100

1,000
500

INR mn

d2

2,000
1,500

Net Profit / Loss

c1

d1

50
0

-50
2010

2011

2012

2013

Financial Summary
The company earned a net profit of INR XX mn in FY 20XX, as
compared to net profit of INR Y mn in FY 20YY
It reported total Income of INR XX mn in FY 20XX, registering an
increase of X per cent over FY 20YY
It earned an operating margin of X.X per cent in FY 20XX an
increase of X.X percentage points over FY 20YY
It reported debt to equity ratio of X.XX in FY 20XX, an increase of
X.X per cent over FY 20YY

Particulars

y-o-y change
(2013-12)

2013

2012

2011

2010

Profitability Ratios
Operating Margin
Net Margin
Profit Before Tax Margin
Return on Equity
Return on Capital Employed
Return on Working Capital
Return on Assets
Return on Fixed Assets

Cost Ratios
Operating costs (% of Sales)
Administration costs (% of
Sales)
Interest costs (% of Sales)

Liquidity Ratios
Current Ratio
Cash Ratio

Leverage Ratios
Debt to Equity Ratio
Debt to Capital Ratio
Interest Coverage Ratio

Efficiency Ratios
Fixed Asset Turnover
Asset Turnover
Current Asset Turnover
Working Capital Turnover
Capital Employed Turnover
Improved

X-RAY EQUIPMENT MARKET IN INDIA 2015.PPT

Decline

17

Private: Domestic Company Company 2

(4/5)
Business Highlights
Description

News

Overview

X-Ray Products

X-RAY EQUIPMENT MARKET IN INDIA 2015.PPT

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Private: Domestic Company Company 2 SWOT Analysis

(5/5)

X-RAY EQUIPMENT MARKET IN INDIA 2015.PPT

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Thank you for the attention

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