BIOCON

Biopharmaceutical Company

Biocon Ltd manufactures biotechnological products catering to the healthcare segment. The
company is engaged in all phases of the product cycle from discovering to development &
then commercializing the same drugs. They use fermentation-based technology, creating cost
effective drugs. Biocon produces anti diabetic agents like Acarbose, Pioglitazone,
Repaglinides & Rosiglitazone. In the biological segment they produce Insulin, Erythropoietin
(EPO), Filgrastim (GCSF), Streptokinase & Monoclonal Antibodies. The company also
produces & markets a mix of specialty & industrial enzymes for industries like paper,
brewing, beverages, food, brewing, textiles & distilling. The company’s drug portfolio
consists of lovastatin, simvastatin, pravastatin and atorvastatin.

HISTORY

Biocon Limited (BSE: 532523) is an Indian biopharmaceutical company based

in Bangalore, India. The Company manufactures generic active pharmaceutical ingredients
(APIs) that are sold in over 120 countries across the globe, including the developed markets
of the United States and Europe. It also manufactures novel biologics, as well as, biosimilar
insulins and antibodies, which are sold in India as branded formulations. Biocon's biosimilar
products are also sold in both bulk and formulation forms in several emerging markets.

Biocon was founded in 1978 with ₹10,000 (US$140) as the initial capital.

Biocon's first product to go to market was papain, an enzyme found in papaya which is used
to prevent beer from turning hazy. Until 1983, the company blended enzymes and supplied
them to brewing, textiles, biofuels, animal feed and other such industries across the world.

• 29 November 1978 - Biocon India is incorporated as a joint venture between Biocon

Biochemicals Ltd. of Ireland and Kiran Mazumdar-Shaw.
• 1979 - Becomes the first Indian company to manufacture and export enzymes to USA
and Europe.
• 1989 - Unilever acquires Biocon Biochemicals Ltd. in Ireland and merges it with its
subsidiary, Quest International; Biocon receives US funding for proprietary technologies.
• 1994 - Establishes Syngene International Pvt. Ltd. as a Custom Research Company
(CRC).
• 1998 - Unilever agrees to sell its shareholding in Biocon to the Indian promoters. Biocon
becomes an independent entity.
• 2001 - Becomes the first Indian company to be approved by USFDA for the manufacture
of lovastatin; PlaFractor is granted a US 2001 and worldwide patent.
• 2003 - Biocon becomes the first company worldwide to develop human insulin on
a Pichia expression system.
• 2006 - BIOMAb EGFR, first indigenously developed humanised monoclonal antibody
for head-and-neck cancer is launched and Dr. APJ Abdul Kalam inaugurates India's
Largest Biotech-Hub "Biocon Park".
• * 2008 - Biocon acquires a 70% stake in German pharmaceutical company, AxiCorp
GmbH.
• 2009 - Syngene-Bristol Myers Squibb research facility is established in Bengaluru.
• 2009 - Mylan announces strategic collaboration with Biocon to Enter the Global Generic
Biologics Market.
• 2010 - Biocon expands to Malaysia, biopharmaceutical manufacturing and R&D facility
established in Iskandar Malaysia, Johor
• 2011 - Biocon launches INSUPen®, a convenient and affordable reusable insulin
delivery device.
• 2012 - Abbott announces collaboration with Syngene to Open First Nutrition R&D
Centre in India.
• 2013 - Biocon launches biologic drug ALZUMAb to treat psoriasis.
• 2014 - Biocon launches world's first biosimilar drug CANMAb to treat breast cancer.
• 2015 - Biocon launches hepatitis-C drug in India under brand name CIMIVIR-L
• 2016 - Becomes the first Indian company to launch a biosimilar Insulin Glargine pen in
Japan
• 2016 - Syngene sets up Amgen R&D centre in Bangalore.
• 2017 - Biocon's Insugen is the first locally manufactured biosimilar product to be
approved for sale by the Malaysian drug regulator.
• 2017 - USFDA approves Mylan-Biocon's biosimilar for cancer drug Herceptin.
• 2018 - Biocon, Mylan get European Commission approval to market biosimilar insulin
glargine.

SWOT ANALYSIS

STRENGTHS WEAKNESSES

Rising net cash flow and cash flow from Decline in Quarterly Net profit
operating activity

Company with low debt Companies with growing costs YoY for
long term projects

Strong cash generating ability from core Declining Operating profit margin and net
business- improving cash flow from profits YoY
operation for last 2 years

FII/FPI or Institutions increasing their Declining profits every quarter for the past
shareholding 2 quarters

OPPORTUNITIES THREATS

Brokers upgraded recommendation or target Insiders sold stocks

price in the past three months

RSI Indicating price strength Increasing trend in Non-core Income

MANAGEMENT TEAM

1. Ms.Kiran Mazumdar Shaw

Kiran Mazumdar-Shaw, Executive Chairperson, Biocon Limited, is a pioneering biotech

entrepreneur, a healthcare visionary, a global influencer, and a passionate philanthropist. The
impact she has made as a leading woman in science has made her a role model in India. She
is committed to equity in healthcare through access and affordability as she pursues a path of
making a difference to billions of lives globally.

She has scripted a hugely successful entrepreneurial story by building Biocon, an innovation-
led global biopharmaceuticals enterprise, which has made outstanding contributions to life
sciences and research drawing global respect for India.

Ms Mazumdar-Shaw has received several coveted awards, honours and titles, both national
and international, in recognition of her inspiring achievements.

National Honours:

• Padma Bhushan (2005)

• Padma Shri (1989)

Key International Recognitions:

• Order of Australia, Australia's Highest Civilian Honour (2020)

• Chevalier de l’Ordre National de la Legion d’Honneur (Knight of the National Order
of the French Legion of Honour), France's Highest Civilian Award (2016)
• AWSM Award for Excellence, The Feinstein Institute for Medical Research, U.S.
(2017)
• Othmer Gold Medal, Chemical Heritage Foundation, U.S. (2014)
• Global Economy Prize for Business, Kiel Institute for the World Economy, Germany
(2014)

2. Mr.Siddharth Mittal

Mr. Siddharth Mittal is the Managing Director & CEO of Biocon Limited. He had
joined Biocon in May 2013 and served as President - Finance & Chief Financial
Officer between August 2014 & November 2019.

He has over 20 years of global and diversified experience in the field of strategic
finance and accounting, mergers and acquisitions, taxation and general management.

Mr. Mittal started his career with the audit division of S.R. Batliboi & Co. (Indian arm
of Ernst & Young) based out of Bengaluru. He then worked with the US subsidiary of
Xchanging Plc, a London-based, FTSE-listed company specialising in business
processing, technology and procurement services. There, he held senior leadership
positions in finance, including Finance Director of BPO and IT US divisions.
 3. Dr.Christiane Hamacher

Dr Christiane Hamacher joined as Chief Executive officer (CEO) of Biocon Biologics

India Ltd in March 2019. Dr Hamacher has over 20 years of leadership experience in
both strategic and operational roles across the value chain in global pharma, spanning
Asia, Europe and the U.S. She has been with Roche, Basel, Switzerland since 2007
and prior to that spent 10 years at Schering AG, Berlin, Germany.

She is an accomplished international C-suite executive with a passion for setting the
corporate vision, defining and implementing future-driven strategy and growing
businesses through entrepreneurial innovation and patient-centricity. She has robust
experience in steering complex, global matrix organizations, quickly building strong,
trusting relationships to enable achievement of top-level results.
4. Mr. Amitava Saha

Mr. Amitava Saha is President of Human Resources at Biocon.

Mr. Saha has nearly two decades of experience in Human Resource (HR) management with
companies like Firstsource Solutions, Mashreq Bank, Accenture and Infosys.
At Infosys, Mr Saha handled various talent acquisition responsibilities before managing
human resources for the company’s global sales force. He was also responsible for setting up
the recruitment practice for Accenture BPO’s voice business in India before moving to Dubai
with Mashreq Bank, where he managed their HR function. Prior to joining Biocon in 2013,
Mr. Saha was heading Talent Acquisition and HR for Firstsource Solutions’ APAC business.

PRODUCTS AND SERVICES

Over the years, they have systematically leveraged the technology platforms from enzymes to
small molecules to recombinant proteins and antibodies. Through partnerships and alliances,
Biocon has strategically moved up the value chain from supplying pharmaceutical bulk
actives to developing proprietary molecules and our own branded formulations.

In the areas of custom and clinical research services, collaborative partnerships with
complementary biotechnology and pharmaceutical companies are yielding rich results. They
believe these partnerships will positively impact any and all phases of our discovery
portfolio.

Differentiation and a high degree of innovation distinguish all our products and services.
Combined with India’s value advantage, they enable us to develop and deliver novel and
affordable therapeutics for global unmet medical needs.

BIOCON BILOGICS

Biocon Biologics is a subsidiary of Biocon Ltd, an innovation led global biopharmaceuticals

company and India's first publicly listed biotech enterprise.

An independent entity, with its own dedicated management, Biocon Biologics consolidates
the development, manufacturing and commercialization operations of Biocon’s biosimilars
business.

Biocon Biologics is engaged in developing high quality, affordable biosimilars that can
expand access to a cutting-edge class of therapies to patients globally. It is the only fully
integrated pure play biosimilars organization in the world. The company aspires to transform
patient lives through innovative and inclusive healthcare solutions. It has one of the largest
global biosimilars portfolios, spanning recombinant human Insulin (rh-Insulin), insulin
analogs, monoclonal antibodies and other recombinant proteins for diabetes, cancer,
autoimmune conditions and other life-threatening diseases. The company has multiple
commercial-scale manufacturing platforms with capacities to support a global play.

The Company has over the years benefited the lives of millions of patients and built
credibility globally as a strong biosimilars player. Its scientific know-how, technological
expertise and global scale manufacturing capabilities have positioned it ahead of the curve in
the realm of biosimilars. Today, it has a large portfolio of biosimilars under global clinical
development with three of these commercialized in at least one of the developed markets of
EU, U.S. and Japan.

NOVEL BIOLOGICS

Biocon has pushed scientific boundaries and created new knowledge that is breakthrough in
its impact to human existence through novel biologics and novel targets in the area of large
molecules.

The Novel Biologics portfolio has both in-house as well as partnered and in-licensed products
targeting diabetes, oncology and immunology. Biocon’s focus on innovation for global
markets continues to be strengthened by directing efforts at increasing depth and emphasis on
our in-house research capabilities – including access to novel IP, therapeutic modalities, in-
vivo and in-vitro models, toxicology studies, early regulatory filings, academic collaborations
etc.

BICARA THERAPEUTICS

Bicara Therapeutics, a wholly owned subsidiary of Biocon based in Boston, U.S., is

anchoring the development of a pipeline of bifunctional antibodies that exploit the recent
advances in immuno-oncology. Bicara allows us to access the thriving innovation ecosystem
in the U.S. and accelerate development of cutting-edge therapies to improve outcomes for
cancer patients. Synergies between the scientific teams based in Boston and Bengaluru will
enable us to progress breakthrough innovation rapidly and, in a cost, effective way.
SMALL MOLECULES

Biocon is a leading global supplier of complex APIs (active pharmaceutical ingredients)

manufactured via synthetic chemistry, peptide chemistry, fermentation and chromatographic
purification which we provide to leading pharmaceutical companies around the globe. Our
large scale, world-class manufacturing and research capabilities and our proven track record
of cGMP compliance have enabled us to build significant brand equity worldwide as a trusted
partner. Since the late 1990s, we have emerged as a preferred APIs partner for over 1,000
pharma companies in more than 100 countries and have long-term business relationships with
many of them. Having built a strong Small Molecules business around a robust portfolio of
APIs, Biocon has leveraged it technical competencies and forward integrated to generic
finished dosages.

BIOPHARMACEUTICALS

Branded Formulations business has been a strong value builder for Biocon. They have built
considerable brand equity with doctors and patients over the years through our affordable and
differentiated portfolio in challenging disease spaces. A combination of products, patients
and physician support programs have enabled us to achieve market leadership in the
therapeutic areas of diabetology, oncology, immunology and critical care.

They are focused on specialty therapy segments to build premium, commanding brands that
stand out as innovative and highly differentiated. The modest performance of the Branded
Formulation business this year was on account of portfolio optimization to restore focus on
key specialty brands having a potential to be a big brand.
PHARMACEUTICAL INDUSTRY IN INDIA

Market Size
Indian pharmaceutical sector is expected to grow to US$ 100 billion and medical device
market expected to grow US$ 25 billion by 2025. Pharmaceuticals exports from India stood
at US$ 19.14 billion in FY19 and US$ 13.69 billion in FY20 (up to January 2020).
Pharmaceutical exports include bulk drugs, intermediates, drug formulations, biologicals,
Ayush & herbal products and surgical.
Indian companies received 304 Abbreviated New Drug Application (ANDA) approvals from
the US Food and Drug Administration (USFDA) in 2017 and received a total of 415 product
approvals in 2018 and 73 tentative approvals. The country accounts for around 30 per cent
(by volume) and about 10 per cent (value) in the US$ 70-80 billion US generics market.
India's biotechnology industry comprising biopharmaceuticals, bio-services, bio-agriculture,
bio-industry and bioinformatics is expected grow at an average growth rate of around 30 per
cent a year and reach US$ 100 billion by 2025.
India’s domestic pharmaceutical market turnover reached Rs 1.4 lakh crore (US$ 20.03
billion) in 2019, growing 9.8 per cent year-on-year (in Rs) from Rs 129,015 crore (US$ 18.12
billion) in 2018.
Investments and Recent Developments
The Union Cabinet has given its nod for the amendment of the existing Foreign Direct
Investment (FDI) policy in the pharmaceutical sector in order to allow FDI up to 100 per cent
under the automatic route for manufacturing of medical devices subject to certain conditions.
The drugs and pharmaceuticals sector attracted cumulative FDI inflows worth US$ 16.25
billion between April 2000 and June 2019, according to data released by the Department for
Promotion of Industry and Internal Trade (DPIIT).
Some of the recent developments/investments in the Indian pharmaceutical sector are as
follows:

• Affordable medicines under the Pradhan Mantri Bhartiya Janaushadhi

Pariyojana(PMBJP) have led to savings of Rs 1,000 crore (US$ 143.08 million) for
Indian citizens in FY19.
• During December 2019, on moving annual total (MAT) basis, industry growth was at
9.8 per cent, with price growth at 5.3 per cent, new product growth at 2.7 per cent
while volume growth at two per cent y-o-y.
• In October 2019, Telangana government proposed Hyderabad Pharma City with
financial assistance from Central government of Rs 3,418 crore (US$ 489 million).
• As on August 2019, the moving annual turnover (MAT) for biosimilar molecules sold
in the domestic market stood at Rs 1,498 crore (US$ 214.31 million).
• Healthcare sector witnessed private equity of total US$ 1.1 billion with 27 deals in
first half of 2019.
• The exports of Indian pharmaceutical industry to the US will get a boost, as branded
drugs worth US$ 55 billion will become off-patent during 2017-2019.

Government Initiatives
Some of the initiatives taken by the government to promote the pharmaceutical sector in India
are as follows:

• In November 2019, Cabinet approved the extension/renewal of the extant

Pharmaceuticals Purchase Policy (PPP) with the same terms and conditions while
adding one additional product namely, Alcoholic Hand Disinfectant (AHD) to the
existing list of 103 medicines till the final closure/strategic disinvestment of the
Pharma CPSUs.
• Under Budget 2020-21, allocation to the Ministry of Health and Family Welfare is Rs
65,012 crore (US$ 9.30 billion).
• The government has allocated Rs 34,115 crore (US$ 4.88 billion) towards the
National Health Mission under which rural and urban people will get benefited.
• Rs 6,400 crore (US$ 915.72 million) has been allocated to health insurance scheme
Ayushman Bharat – Pradhan Mantri Jan Arogya Yojana (AB-PMJAY).
• As per Economic Survey 2018-19, government expenditure (as a percentage of GDP)
increased to 1.5 per cent in 2018-19 from 1.2 per cent in 2014-15 for health.
• In October 2018, the Uttar Pradesh Government announced that it will set up six
pharma parks in the state and has received investment commitments of more than Rs
5,000-6,000 crore (US$ 712-855 million) for the same.
• The National Health Protection Scheme is largest government funded healthcare
programme in the world, which is expected to benefit 100 million poor families in the
country by providing a cover of up to Rs 5 lakh (US$ 7,723.2) per family per year for
secondary and tertiary care hospitalisation. The programme was announced in Union
Budget 2018-19.
• In March 2018, the Drug Controller General of India (DCGI) announced its plans to
start a single-window facility to provide consents, approvals and other information.
The move is aimed at giving a push to the Make in India initiative.
• The Government of India is planning to set up an electronic platform to regulate
online pharmacies under a new policy, in order to stop any misuse due to easy
availability.
• The Government of India unveiled 'Pharma Vision 2020' aimed at making India a
global leader in end-to-end drug manufacture. Approval time for new facilities has
been reduced to boost investments.
• The government introduced mechanisms such as the Drug Price Control Order and the
National Pharmaceutical Pricing Authority to deal with the issue of affordability and
availability of medicines.
PEER ANALYSIS

1. ERIS LIFE

Eris Lifesciences Pvt Ltd is fastest growing super speciality focused pharmaceutical company
and is engaged in manufacturing, marketing and selling of branded generics across the
country. It mainly focuses on Cardiology, Diabetology, Endocrinology, Gastroenterology,
ENT, Orthopedics, Pediatrics and Gynecology segments and offer world class products
across these therapy segments.

Address: 8th floor, Commerce House IV,beside shell petrol pump, 100 feet road

City: Ahmedabad

State: Gujarat

Pincode : 380015

Tel no.: 079-30451000

Email: complianceofficer@erislifesciences.com

Internet: http://www.eris.co.in

MANAGEMENT

NAME DESIGNATION
Amit Indubhushan Bakshi Managing Director
Inderjeet Singh Negi Whole time director
Vijaya Sampath Independent director
Kirit Nanubhai Shelat Independent director
Prashant Gupta Independent director

2. SUNPHARMA ADVANCED

Sun Pharma Advanced Research Company Ltd is engaged in pharmaceutical

research and development. The product range of the company includes: NCE
Projects- Under this the company is currently working in therapeutic areas
namely anti-allergy, soft steroid, anticonvulsant and muscle relaxant.NDDS
Projects- Under this the company is working on delivery system based
platforms such as biodegradable implant, nanoemulsion, dry powder inhalation
technology, wrap matrix controlled release systems and gastro retentive system
for controlled release. The company is focused on innovating drug delivery
technologies requires for treatment of cancers and psychiatric ailments.

Address: Sun Pharma Advanced Research centre ( SPA, Akota road, Akota)

City: Vadodara

State: Gujarat

Pincode: 390020

Tel no.: 0265-2330815

Email: secratarial@sparcmail.com
 Internet: http://www.sunpharma.in

MANAGEMENT

NAME DESIGNATION
Dilip S Shangvi Chairman and Managing Director
T Rajamannar Non Executive Director
Bhavna Doshi Independent director
Sudhir V Valia Non Executive Director
Ferzaan Engineer Independent director

3. PIRAMAL PHYTOCARE LTD

Piramal Life Sciences Ltd (PLSL) is an independent research-driven drug

company. PLSL is focused on four therapeutic areas - Cancer, Diabetes,
Inflammation and Infectious Diseases. The company has a pipeline of fourteen
compounds, including four in clinical trials. PLSL`s lead chemical compound,
a Cdk-4 inhibitor, has completed two Phase I studies and is being tested in
another Phase I/II trial for Multiple Myeloma. PLSL has drug discovery and
development agreements with Eli Lilly & Company and Merck & Company,
two of the leading pharmaceutical companies in the world. The research
activities carried out by the company includes Molecular Biology, Biomarker
Discovery, Medicinal and Synthetic Chemistry, Polymer Chemistry,
Analytical Chemistry, Natural Products, Herbal Extraction,HTS
Group,Oncology,Inflammation,Diabetes,Vaccine,Special Projects, Clinical
Development, Business Development, In-vivo Pharmacology and Discovery
Informatics.

Address: Piramal Tower, Ganpatrao Kadam Marg, Lower Parel

City: Mumbai
 State: Maharashtra

Pincode : 400013

Tel.no: 022-38023083

Email: complianceofficer.ppl@piramal.com

Internet: http://www.piramalphytocare.com

MANAGEMENT

NAME DESIGNATION
Rajesh Laddha Non Executive Director
Gautam Doshi Ind. Non-Executive Director
N L Bhatia Ind. Non-Executive Director
Rashida Najmi Non Executive Woman Director

4. VIVO BIOTECH LTD.

Vivo Bio Tech Ltd (VBTL) is a contract research company engaged in biotechnology and
pharma drug discovery activities. VBTL provides services ranging from insilico design, wet
lab contract research, preclinical research and clinical studies spanning the entire drug
discovery value chain.The Custom Research Services group at Vivo Bio Tech offers a complete
line of protein services, including gene synthesis, cloning, expression and purification of
recombinant proteins and monoclonal antibodies. In-vitro Services offers solutions for
pharmacologic, toxicological & bioanalytical investigations in drug discovery & development.
Critical investigations like bacterial reverse mutattion assays, chromosomal aberration, and
micronucleus are some of the specialty services offered by the company.

Address: 8-2-672/5&6, 3rd Floor, Ilyas Mohammed Khan Estate,,Road No.1, Banjara Hills,
City: Hyderabad

State: Telangana

Pincode: 500034

Tel.no: 040-23313288

Email: investors@vivobio.com

Internet: http://www.vivobio.com

MANAGEMENT

NAME DESIGNATION
M Kalyan Ram Whole Time Director
Alangudi Sankaranarayanan Director
Sunder Kanaparthy Independent Director
R Hariharan Independent Director
M Vijaya Lakshmi Independent Director
Biocon

Standalone Profit & Loss account ------------------- in Rs. Cr. -------------------

Mar 20 Mar 19 Mar 18 Mar 17 Mar 16

12 mths 12 mths 12 mths 12 mths 12 mths

INCOME

Revenue From Operations [Gross] 1,988.40 2,640.20 2,215.30 2,408.60 2,163.30

Less: Excise/Sevice Tax/Other Levies 0.00 0.00 6.30 30.50 33.60

Revenue From Operations [Net] 1,988.40 2,640.20 2,209.00 2,378.10 2,129.70

Other Operating Revenues 0.00 244.50 210.20 209.80 172.10

Total Operating Revenues 1,988.40 2,884.70 2,419.20 2,587.90 2,301.80

Other Income 201.70 117.50 124.70 98.80 173.10

Total Revenue 2,190.10 3,002.20 2,543.90 2,686.70 2,474.90

EXPENSES

Cost Of Materials Consumed 858.20 1,278.50 958.70 991.50 947.90

Purchase Of Stock-In Trade 0.90 125.40 92.50 90.20 76.00

Changes In Inventories Of FG,WIP And

-31.40 -147.10 -1.80 -46.50 -36.40
Stock-In Trade

Employee Benefit Expenses 344.80 510.30 408.60 365.00 321.90

Finance Costs 1.20 2.60 1.00 3.80 1.90

Depreciation And Amortisation Expenses 98.00 147.10 136.10 150.60 139.70

Other Expenses 529.90 732.00 643.00 595.90 575.40

Total Expenses 1,801.60 2,648.80 2,238.10 2,150.50 2,026.40

Mar 20 Mar 19 Mar 18 Mar 17 Mar 16

12 mths 12 mths 12 mths 12 mths 12 mths

Profit/Loss Before Exceptional,

388.50 353.40 305.80 536.20 448.50
ExtraOrdinary Items And Tax

Exceptional Items 159.70 198.70 0.00 0.00 110.90

Profit/Loss Before Tax 548.20 552.10 305.80 536.20 559.40

Tax Expenses-Continued Operations

Current Tax 111.90 141.90 60.60 126.90 217.50

Less: MAT Credit Entitlement 0.00 68.40 -6.20 117.20 0.00

Deferred Tax 0.00 -14.10 0.50 7.20 -26.70

Total Tax Expenses 111.90 59.40 67.30 16.90 190.80

Profit/Loss After Tax And Before

436.30 492.70 238.50 519.30 368.60
ExtraOrdinary Items

Extraordinary Items 4.60 0.00 0.00 0.00 0.00

Profit/Loss From Continuing

440.90 492.70 238.50 519.30 368.60
Operations

Profit/Loss For The Period 440.90 492.70 238.50 519.30 368.60

Mar 20 Mar 19 Mar 18 Mar 17 Mar 16

12 mths 12 mths 12 mths 12 mths 12 mths

OTHER ADDITIONAL INFORMATION

EARNINGS PER SHARE

Basic EPS (Rs.) 3.72 8.33 4.04 26.45 18.78

Diluted EPS (Rs.) 3.71 8.27 4.02 26.27 18.76

VALUE OF IMPORTED AND INDIGENIOUS RAW

MATERIALS

STORES, SPARES AND LOOSE TOOLS

DIVIDEND AND DIVIDEND PERCENTAGE

Equity Share Dividend 0.00 69.40 69.30 0.00 110.70

Equity Dividend Rate (%) 0.00 10.00 20.00 20.00 100.00

Equities and MAR 2020 MAR 2019 MAR 2018 MAR 2017 MAR 2016
Liabilities

Share Capital 600.00 300.00 300.00 100.00 100.00

Equities and MAR 2020 MAR 2019 MAR 2018 MAR 2017 MAR 2016
Liabilities

Reserves & Surplus 6,937.30 6,815.40 6,438.60 6,441.10 5,896.60

Current Liabilities 728.00 993.30 831.60 705.20 862.60

Other Liabilities 45.50 131.70 156.70 222.60 238.90

Total Liabilities 8,310.80 8,240.40 7,726.90 7,468.90 7,098.10

Assets

Fixed Assets 945.10 1,355.60 1,221.10 1,178.80 1,110.00

Current Assets 2,083.70 2,446.40 2,057.70 2,378.50 2,371.10

Other Assets 5,282.00 4,438.40 4,448.10 3,911.60 3,617.00

Total Assets 8,310.80 8,240.40 7,726.90 7,468.90 7,098.10

Other Info

Contingent Liabilities 0.00 1,932.80 1,797.70 1,708.60 1,644.30

Biocon Previous Years »

Key Financial Ratios ------------------- in Rs. Cr. -------------------

Mar
Mar '19 Mar '18 Mar '17 Mar '16
'20

Investment Valuation Ratios

Face Value 5.00 5.00 5.00 5.00 5.00

Dividend Per Share -- 0.50 1.00 1.00 5.00

Operating Profit Per Share (Rs) 2.38 6.43 5.30 29.59 20.85

Net Operating Profit Per Share (Rs) 16.57 48.08 40.32 129.40 115.09

Free Reserves Per Share (Rs) -- -- -- -- --

Bonus in Equity Capital -- 97.82 97.82 93.47 93.47

Profitability Ratios

Operating Profit Margin(%) 14.38 13.36 13.15 22.86 18.11

Profit Before Interest And Tax Margin(%) 8.58 7.94 7.15 16.42 11.20

Gross Profit Margin(%) 9.45 8.26 7.52 17.04 12.04

Cash Profit Margin(%) 17.10 14.69 14.72 24.93 16.05

Adjusted Cash Margin(%) 17.10 14.69 14.72 24.93 16.05

Net Profit Margin(%) 22.17 17.07 9.85 20.06 16.01

Adjusted Net Profit Margin(%) 20.13 16.41 9.37 19.32 14.89

Return On Capital Employed(%) 5.16 5.00 4.50 8.09 7.08

Return On Net Worth(%) 5.84 6.92 3.53 7.94 6.14

Adjusted Return on Net Worth(%) 3.66 4.13 3.53 7.94 4.29

Return on Assets Excluding Revaluations 62.81 118.58 112.30 327.01 299.79

Return on Assets Including Revaluations 62.81 118.59 112.31 327.06 299.83

Return on Long Term Funds(%) 5.16 5.00 4.50 8.09 7.34

Liquidity And Solvency Ratios

Current Ratio 3.12 2.55 2.50 3.02 2.26

Quick Ratio 2.20 1.66 1.78 2.21 2.26

Debt Equity Ratio -- -- 0.01 0.02 0.06

Long Term Debt Equity Ratio -- -- 0.01 0.02 0.02

Debt Coverage Ratios

Interest Cover 324.75 136.92 306.80 142.11 237.05

Total Debt to Owners Fund -- 0.00 0.01 0.02 0.06

Financial Charges Coverage Ratio 406.42 193.50 442.90 181.74 310.58

Financial Charges Coverage Ratio Post

450.08 247.08 375.60 177.29 268.53
Tax

Management Efficiency Ratios

Inventory Turnover Ratio 3.72 3.60 4.32 4.85 4.63

Debtors Turnover Ratio 2.70 3.51 3.15 3.98 4.35

Investments Turnover Ratio 0.26 3.60 4.32 4.85 4.63

Fixed Assets Turnover Ratio 2.10 1.16 1.12 1.26 1.23

Total Assets Turnover Ratio 0.26 0.41 0.36 0.39 0.36

Asset Turnover Ratio 0.27 0.41 0.36 0.40 0.51

Average Raw Material Holding -- -- -- -- --

Average Finished Goods Held -- -- -- -- --

Number of Days In Working Capital 177.61 143.52 129.61 157.61 169.83

Profit & Loss Account Ratios

Material Cost Composition 43.20 48.66 43.45 41.79 44.48

Imported Composition of Raw Materials

-- -- -- -- --
Consumed

Selling Distribution Cost Composition -- 1.55 1.97 1.83 1.83

Expenses as Composition of Total Sales -- 17.70 19.46 19.66 14.91

Cash Flow Indicator Ratios

Dividend Payout Ratio Net Profit -- 14.08 29.05 -- 30.03

Dividend Payout Ratio Cash Profit -- 10.84 18.49 -- 21.77

Earning Retention Ratio 100.00 76.40 70.95 100.00 57.05

Cash Earning Retention Ratio 100.00 84.27 81.51 100.00 72.15

AdjustedCash Flow Times 0.00 0.00 0.18 0.20 0.91

TECHNICAL CHART

IMPACT OF COVID 19 ON THE PHARMACEUTICAL INDUSTRY

During these unprecedented times, pharmaceutical companies are responding to rapid

challenges arising from disruption in supply chains and the need to change business
processes. If the current covid-19 pandemic lasts for a medium/long span of time, it may
impact the supply of active material and ingredients (mainly from China) as well as the
import and export of pharmaceuticals.
The Indian pharmaceutical industry is the world’s third largest drug producer by volume and
the country’s market manufactures 60 percent of vaccines globally. This constitutes 40 to 70
percent of supply to satisfy the World Health Organization’s (WHO) demand for Diphtheria,
Tetanus and Pertussis (DPT) and Bacillus Calmette Guerin (BCG) vaccines and 90 percent of
the global demand for the measles vaccine.

India supplies affordable and low-cost generic drugs to millions of people around the globe
and operates more than 250 US Food and Drug Administration (FDA) and UK Medicine and
Healthcare products Regulatory Agency (MHRA) approved plants. Furthermore, its active
pharmaceutical ingredients (APIs) market is forecasted to attain a revenue of $6 billion by the
end of 2020.

According to a report on the Indian pharmaceutical industry, the source of APIs is a crucial
part of the pharma industry’s strategic plan to combat the COVID-19 pandemic. The majority
of APIs for generic drug manufacturing across the globe are sourced from India, which also
supplies approximately 30 percent of the generic APIs used in the US. However, Indian
manufacturers rely heavily on APIs from China for the production of their medicine
formulations, procuring around 70 percent from China, the top global producer and exporter
of APIs by volume.

The current dependency of Indian pharmaceutical companies on Chinese APIs is a serious

concern for national health security, prompting the Indian government to set up a taskforce to
review the internal API sector. Several key representatives from the pharmaceutical industry
and NITI Aayog (an Indian government policy think tank) suggested that fostering the
approvals of pharmaceutical infrastructure developments, clearance from the environment
ministry and providing tax exemptions and subsidies for the development and promotion of
the pharmaceutical industry hubs could all benefit the market.