Insert Cover Image using Slide Master View Do not distort X-Ray Equipment Market – India February 2015
Apr 07, 2016
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X-Ray Equipment Market – India
February 2015
2 X-RAY EQUIPMENT MARKET IN INDIA 2015.PPT
Executive Summary
Market
Drivers & Challenges
Government Regulations
Competition
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
Challenges:
Hazardous radiation effects
Poor after sales service
Installation procedure
Personnel requirements and duties
Safety measures
Major Domestic Players Major Foreign Players
Company 1 Company 3 Company 5
Company 2 Company 4 Company 6
3
•Macroeconomic Indicators
•Introduction
•Market Overview
•Export-Import
•Drivers & Challenges
•Government Regulations
•Competitive Landscape
•Strategic Recommendations
•Appendix
X-RAY EQUIPMENT MARKET IN INDIA 2015.PPT
4
Macroeconomic Indicators (1/3)
12
13
14
15
16
INR tn
Q4
d3
d2
d1
Q3
c3 c2 c1
Q2
b3
b2 b1
Q1
a4
a3 a2 a1
2014-15 2013-14 2012-13 2011-12
GDP at Factor Cost: Quarterly
Inflation Rate: Monthly
-2
-1
0
1
2
%
Nov 2013 - Dec 2013
-t
r
Oct 2013 - Nov 2013
s q
Sep 2013 - Oct 2013 Aug 2013 - Sep 2013 Jul 2013 - Aug 2013
p
X-RAY EQUIPMENT MARKET IN INDIA 2015.PPT
5
• 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)
X-Ray Equipment Market – Overview (1/2)
Market Overview (1/7)
0
1,000
2,000
3,000
4,000
5,000
h2%
2015e
g
g1%
g2%
2014e
f
f1%
f2%
2013
d1%
d
d2%
2012
c
c1%
c2%
2011
b
b1%
b2%
2010
a
a1%
a2%
INR mn
j
2017e
i2%
h1%
k
k2%
2018e
j1%
j2%
i
i1%
2016e
h
+x%
2019e
k1%
Segment 1 Segment 2
X-RAY EQUIPMENT MARKET IN INDIA 2015.PPT
6
Earnings arising out of exports of x-ray equipments has continued to be higher…
• Unlike most other medical instruments, in case of x-
ray equipment, exports are clearly higher than
imports Domestic manufacturers earn high revenues by exporting
their products
However, in 2013-14 exports experienced a slight decline
compared to 2012-13
• Country 1 has been the biggest export hub for Indian
manufacturers followed by Country 2 and Country 3
Exports – Overview Export of X-ray Equipments
Export – Value (Region Wise: 2013-14)
0
2,000
4,000
6,000
8,000
0
20
40
60
80
100
‘000 units INR mn
2013-14
s1
s2
2012-13
r1
r2
2011-12
q1
q2
2010-11
p1
p2
Value Volume
b2%
a2% h2%
i2%
g2%
d2% f2%
c2%
Export – Value (Region Wise: 2012-13)
a1%
b1%
c1%
d1% h1%
f1% i1%
g1%
Country 1
Country 3
Country 4
Country 6
Others
Country 7
Country 5
Country 2
Country 1
Country 2
Country 3
Others
Country 6
Country 5
Country 7
Country 4
X-RAY EQUIPMENT MARKET IN INDIA 2015.PPT
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Drivers & Challenges – Summary
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
Challenges
Hazardous radiation effects
Poor after sales service
X-RAY EQUIPMENT MARKET IN INDIA 2015.PPT
8
Government Regulations – Summary
Government Regulations
Installation procedure
Safety measures Personnel requirements
and duties
X-RAY EQUIPMENT MARKET IN INDIA 2015.PPT
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Competitive Rivalry
Bargaining Power of Suppliers
Bargaining Power of Buyers
Threat of Substitutes
Threat of New Entrants
Impact Low
Impact Medium
Impact High
Impact Low
Impact Medium
Market Competition – Porter’s Five Forces Analysis
X-RAY EQUIPMENT MARKET IN INDIA 2015.PPT
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Key Ratios of Top 3 Companies – Operational Basis (FY 2013) (1/3)
Competitive Benchmarking (1/4)
0
5
10
15
20
25
a3
Company 3
%
Company 2
b3 b2 a2
Company 1
b1
a1
Net Margin Operating Margin
• 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
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Key People
Products and Services
Company Information Offices and Centres – India
Corporate Address
Tel No.
Fax No.
Website
Year of Incorporation
Ticker Symbol
Stock Exchange
Name Designation
Person 1 Chairman
Person 2 Chief Executive Officer and Managing Director
Person 3 Chief Financial Officer and Executive Director
Category Products/Services
Medical Imaging
Laboratory Diagnostics
Therapy Systems
Public: Foreign Company – Company 1 (1/4)
Head Office
X-RAY EQUIPMENT MARKET IN INDIA 2015.PPT
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Key Ratios
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 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
Particulars y-o-y change
(2014-13) 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
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 Decline
Financial Snapshot
Financial Summary
Indicators Value (05/01/2015)
Market Capitalization (INR mn)
Total Enterprise Value (INR mn)
EPS (INR)
PE Ratio (Absolute)
Net Profit / Loss Total Income
0
50,000
100,000
150,000
0
2,000
4,000
6,000
8,000
10,000
INR mn INR mn
2014
d2
d1
2013
c2
c1
2012
b2
b1
2011
a2
a1
X-RAY EQUIPMENT MARKET IN INDIA 2015.PPT
Public: Foreign Company – Company 1 (2/4)
13
Key Business Segments Key Geographic Segments
Business Highlights
0%
50%
100%
d3%
b2%
a2%
c3%
2012
c1% d2% d1%
b1%
c2%
b3%
2013 2014
a3% a1%
0%
50%
100%
2014
s2%
2013
r2%
r1%
2012
q2%
2011
p2%
p1% s1% q1%
Description Details
Overview
X-Ray Products
New Launches
Infrastructure Healthcare Industry Energy Outside India India
X-RAY EQUIPMENT MARKET IN INDIA 2015.PPT
Public: Foreign Company – Company 1 (3/4)
14
T O
W S
X-RAY EQUIPMENT MARKET IN INDIA 2015.PPT
Public: Foreign Company – Company 1 – SWOT Analysis (4/4)
15
Private: Domestic Company – Company 2 (1/5)
Key People
Products and Services
Company Information Offices and Centres – India
Corporate Address
Tel No.
Fax No.
Website
Year of Incorporation
Category Products/Services
Radiology
Cardiology
Surgery
Neurology
Name Designation
Person 1 Chairman and Managing Director
Person 2 Additional Managing Director
Person 3 Whole-Time Director
Person 4 Whole-Time Director
Head Office
X-RAY EQUIPMENT MARKET IN INDIA 2015.PPT
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d% b% c%
a%
Category 1 Category 4 Category 2 Category 3
Shareholders of the Company Ownership Structure
Name No. of Shares held
Shareholder 1
Shareholder 2
Shareholder 3
Shareholder 4
Shareholder 5
Shareholder 6
Shareholder 7
Shareholder 8
Total
X-RAY EQUIPMENT MARKET IN INDIA 2015.PPT
Private: Domestic Company – Company 2 (2/5)
17
Financial Snapshot Key Ratios
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
Improved Decline
Net Profit / Loss Total Income
500
-50
1,500 100
50
0
1,000
0
2,000 150
a1
2012
b1
2011
b2 c2
INR mn
d1
a2
2013
d2
c1
2010
INR mn 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
X-RAY EQUIPMENT MARKET IN INDIA 2015.PPT
Private: Domestic Company – Company 2 (3/5)
18
Description News
Overview
X-Ray Products
Business Highlights
X-RAY EQUIPMENT MARKET IN INDIA 2015.PPT
Private: Domestic Company – Company 2 (4/5)
19
T O
W S
X-RAY EQUIPMENT MARKET IN INDIA 2015.PPT
Private: Domestic Company – Company 2 – SWOT Analysis (5/5)
20
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X-RAY EQUIPMENT MARKET IN INDIA 2015.PPT