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External Defibrillator Market – India August 2014
Executive Summary
Market
The external defibrillator market in India is expected to grow at an impressive CAGR of xi% over 2012-18e in volume-terms, and x2% in value-terms Market is segmented into monophasic, biphasic and AED models with each exhibiting different rates of growth Biphasic models are currently replacing the monophasic models in the market and AEDs have significant growth potential
Drivers:
Drivers & Challenges
Challenges:
High rate of cardiovascular diseases Increasing number of health facilities Changing demographics Over-the-counter status for AEDs Increasing disposable income Growing awareness
Lack of standard regulatory structure and government initiatives Weak manufacturing base
Major Players
Competition
Company 1
Company 2
Company 3
Company 4
Company 5
Company 6
Company 7
Company 8
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•Macroeconomic Indicators •Introduction •Market Overview •EXIM •Drivers & Challenges •Competitive Landscape •Strategic Recommendations •Appendix
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Economic Indicators (1/3) GDP at Factor Cost: Quarterly INR tn 15
13
d1 c1 b1
12
a1
14
c4 b4 a4
c3 b3 a3
d2 c2 b2 a2
11
Q1
Q2 2010-11
2011-12
2012-13
Q3 2013-14
Q4
Inflation Rate: Monthly % 2 1
p
r
s
q
0 -1
-t
-2
Jul 2013 - Aug 2013
Aug 2013 - Sep 2013
Sep 2013 - Oct 2013
Oct 2013 - Nov 2013
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Nov 2013 - Dec 2013 4
External defibrillator market is poised to grow in the coming years with emphasis on biphasic models and AEDs External Defibrillator Market – Overview • Evolution of cardiac devices has opened new vistas in India’s healthcare industry • Defibrillator market in India is growing due to the developments in emergency services and the setting up of new trauma care centers across the country • Market for defibrillators is highly influenced by the adoption of new technologies, demands for quality medical care, and integration of patient monitors Advanced defibrillators function as multi-parameter monitors, with 12-lead ECG acquisition and transmission capabilities; combining monitoring with diagnostics measurements, vital signs trending, and resuscitation therapies
• Growing target base of consumers and innovation and improvement in technology will boost sales and the market is expected to exhibit steady growth in future
Market Size: Volume-Wise (2012-2018e)
Market Size: Value-Wise (2012-2018e)
Nos.
INR mn
10,000
+x1%
8,000 6,000
a1
b1
c1
d1
f1
g1
h1
1,500 1,000
2,000
500
0
0
2013
2014e
+x2%
2,000
4,000
2012
h2
2,500
2015e
2016e
2017e
2018e
a2
2012
b2
2013
EXTERNAL DEFIBRILLATOR MARKET IN INDIA 2014.PPT
c2
2014e
d2
2015e
g2 f2
2016e
2017e
2018e 5
Increasing exports of domestically manufactured products and the resultant higher profits for domestic players… Exports – Overview
Export of Defibrillators
• Export of defibrillators has increased considerably between FY 2011 and FY 2013, but has been low in the first 3 quarters of FY 2014 • Products have been mostly exported to Region A • In the first 9 months of FY 2014, exports have been low to Country 1 which constituted over a1% of the export market in the previous fiscal
Export (Region Wise: 2012-13) b1% c1% d1% f1%
INR mn
250 200 150 100 50 0
Volume
‘000 units
Value
9.0
219.0 0.7
0.5 39.2
2010-11
2011-12
2.8 43.4
2012-13
10 8 6 4 2 0
2013-14 Apr - Dec
Export (Region Wise: 2013-14; Apr - Dec) Country 1 Country 2 Country 3 Country 4 Others
Country 5
g2% d2% f2% c2% h2% i2% b2%
Country 1 Country 4 Country 6 Country 7 a2%
Country 8 Country 9 Others
a1%
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Drivers & Challenges – Summary
Drivers High rate of cardiovascular diseases
Increasing number of health facilities
Challenges
Changing demographics
Lack of standard regulatory structure and government initiatives
Over-the-counter status for AEDs
Weak manufacturing base
Increasing disposable income Growing awareness
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Porter’s Five Forces Analysis Impact Threat of New Entrants
Impact
Impact Impact
Bargaining Power of Suppliers
Competitive Rivalry
Bargaining Power of Buyers
Impact
Threat of Substitutes
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Competitive Benchmarking (2/5) Key Ratios of Top 3 Companies – Operational Basis (FY 2013) (1/3) Operating Margin
%
10 0 -5
a3
a2
5
Net Margin b2
b3
-a1
-10
-b1
-15 Company 1
Company 2
Company 3
• Company 3 recorded operating margin of a3%, higher than both Company 1 which recorded operating margin of -a1% and Company 2 which recorded operating margin of a2% • Company 2 recorded the highest net margin of b2%, higher than Company 3 which recorded a net margin of b3% and Company 1 which recorded a net margin of -b1%
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Public: Domestic Company – Company 1 (1/4) Company Information
Offices and Centres – India
Corporate Address
Tel No. Website Year of Incorporation Ticker Symbol Stock Exchange
Products and Services Category
Head Office
Products/Services
Key People Health Bankcard and Technology
Name
Designation
Person 1
Chairman and Managing Director
Person 2
Whole Time Director
Person 3
Director
Person 4
Chief Executive Officer
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Public: Domestic Company – Company 1 (2/4) Financial Snapshot Total Income
INR mn
Key Ratios Net Profit/Loss
INR mn
b2 800
20
c2
a2
600 400
-d2 a1
b1
200
0 -20
c1
d1
0
-40 -60
2010
2011
2012
2013
Financial Summary • 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 • The company reported debt to equity ratio of X.XX in FY 20XX, an increase of X.X per cent over FY 20YY
Key Financial Performance Indicators Market Capitalization (INR mn) Total Enterprise Value (INR mn) EPS (INR) PE Ratio (Absolute)
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
• Company incurred a net loss of INR XX mn in FY 20XX, as compared to net profit of INR Y mn in FY 20YY
Indicators
Particulars
Value (dd/mm/yyyy)
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
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11
Public: Domestic Company – Company 1 (3/4) Key Business Segments
Key Geographic Segments
Segment 1
Region 1
Segment 2
100%
Region 2
100% a1%
b1%
50% a2%
b2%
0% 2011
2012
c1% c2% 2013
50% 0%
q1%
r1%
q2%
r2%
2012
2013
p1% p2% 2011
Business Highlights Description
News
Overview
• Company 1 is a City 1-based company in the business of medical equipment distribution and technology services • It has four divisions, Business Division 1, Business division 2, Business Division 3 and Business division 4 • Its customer base includes major corporates, defense establishments, software technology parks, MNC's and Super-specialty hospitals
Network
• Has presence in major Indian cities like City 1, City 2, City 3, City 4, City 5, City 6 and City 7
Shareholders
• In 2001, Company A acquired a majority stake in the Company 1
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Public: Domestic Company – Company 1 – SWOT Analysis (4/4)
S
W
O
T
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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
Head Office
Products/Services
Key People Name
Designation
Person 1
Managing Director
Person 2
Director
Person 3
Director
Person 4
Director
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Private: Domestic Company – Company 2 (2/5) Shareholders of the Company as on dd.mm.yy Name
No. of Shares held
Ownership Structure Category 1 Category 2
Shareholder 1 0.02% Shareholder 2 Shareholder 3 Shareholder 4
Shareholder 5 99.92%
Shareholder 6 Shareholder 7 Total
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Private: Domestic Company – Company 2 (3/5) Financial Snapshot Total Income
Key Ratios Particulars
Net Profit/Loss
INR mn
INR mn b2
200
c2
d2
150 100 50
10 0
-a2 b1 a1
c1
d1
-10 -20
0
-30 2010
2011
2012
2013
Financial Summary
2011
2010
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
• It reported total Income of INR XX mn in FY 20XX, registering an increase of X per cent over FY 20YY
Leverage Ratios
• The company reported debt to equity ratio of X.XX in FY 20XX, an increase of X.X per cent over FY 20YY
2012
Profitability Ratios
• 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 earned an operating margin of X.X per cent in FY 20XX an increase of X.X percentage points over FY 20YY
y-o-y change 2013 (2013-12)
Current Ratio Cash Ratio 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
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Private: Domestic Company – Company 2 (4/5) Business Highlights Description
News
Overview
• Company 2 is a medical equipment company specializing in the fields of cardiology, anesthesia, critical care and emergency • It markets products from various medical equipment companies in India and mostly focuses on single product technology driven companies that can afford to continuously develop a particular modality • It has a unit at City 1 which is used to fabricate a wide range of ambulances, diagnostic vans and mobile hospitals • It also has a facility in City 2 for treating all types of infectious waste collected from various hospitals in the city
Partners
• Company 2 exclusively represents a number of companies in India, including Country Abased Company A, and Company B; Country B-based Company C, Country C-based Company D, Country D-based Company F; and Country F-based Company G
Network
• The company’s head office is at City 3 and it has branch offices at City 4, City 5, City 6, City 7, City 8, and City 9
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Private: Domestic Company – Company 2 – SWOT Analysis (4/5)
S
W
O
T
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