BATTLEGROUND

TEAM YatharthMahobiya
Shaheed Sukhdev College of Business Studies
RUDRAKSH KHANDELWAL YATHARTH MAHOBIYA
khandelwalrudraksh2806@gmail.com yatharthmahobiya@gmail.com
 INDUSTRY OVERVIEW
Brazilian pharma market

Generic Market
8.2% $5.2bn

OTC Market
7.6% 300

OTC Market
$25.6bn

Generic
Brazil’s Generic
Brazil

Brazil’s Market by Brazil’s OTC Market Brazil’s OTC Market Imported Generic
Market Projected today
2026 with CAGR 6.9% CAGR 7.6% Medicines out of 2792
CAGR (2021-2026)

Key Drivers Challenges

Almost 30% of population above 60+ yrs When patents for brand name expires,
by 2050. It indicates greater potential competition rises which drove prices.
for growth.

By law, generic medicines must enter patent litigation and market

the market at least 35% below the price exclusivity agreements which
of the originator drove generic segments later
.
Building brand loyalty and
High burden of diseases related to lifestyle & credibility is difficult in generic
ageing population like hypertension, diabetes, medicines
arthritis, and cardiovascular diseases.

FDA's Drug Competition Action Plan Meeting stringent quality, safety, and
aim to expedite generic drug approvals efficacy standards, as well as addressing
and increase market access. regulatory changes and requirements

Source: Statista Grand View Research Team

Analysis
E 2
 DIVERSIFIED BUSINESS MODEL
A comprehensive strategy with diverse solutions to cater the competition
Issue Letter of Credit to boost International trade Meeting stringent quality, safety, and efficacy standards, as well
as addressing regulatory changes and requirements
against commission or collateral*

generic medicines are

35% cheaper than
reference products.
Government promote
generic for
affordability.

Source: Team Analysis

3
 FINANCIALS
Financial growth projections with meaningful assumptions
INR (CRORES) 2021A 2022A 2023A 2024E 2025E 2026E 2027E 2028E 2029E
INCOME STATEMENT - FinPay
REVENUE 2,267.00 2,607.00 2,998.00 3,372.75 3,794.34 4,268.64 4,802.22 5,402.49 6,077.81
COGS 2,539.00 2,919.28 2,398.40 2,360.93 2,428.38 2,518.50 2,641.22 2,701.25 3,038.90
GROSS PROFIT (272.00) (312.28) 599.60 1,011.83 1,365.96 1,750.14 2,161.00 2,701.25 3,038.90 NOTES: Important assumptions
SELLING AND ADM. EXPENSES 520.00 790.00 892.00 900.00 945.00 992.25 1,041.86 1,093.50 1,120.00
EBITDA (792.00) (1,102.28) (292.40) 111.83 420.96 757.89 1,119.14 1,607.75 1,918.90 YoY revenue growth rate has been
DEPRECIATION 90.68 104.28 119.92 134.91 151.77 170.75 192.09 216.10 243.11 1 taken as 13% for viability as against
INTREST 45.34 52.14 59.96 67.46 75.89 85.37 96.04 108.05 121.56 industry standards of 20.08%.
EBT (928.02) (1,258.70) (472.28) (90.54) 193.30 501.77 831.00 1,283.60 1,554.23
TAX 0.00 0.00 0.00 0.00 57.99 150.53 249.30 385.08 466.27
NET INCOME (928.02) (1,258.70) (472.28) (90.54) 135.31 351.24 581.70 898.52 1,087.96
Cost of Goods sold (COGS) includes
COSTING ANALYSIS
COGS 2,539.00 2,919.28 2,398.40 2,360.93 2,428.38 2,518.50 2,641.22 2,701.25 3,038.90
2 operating expenses as well.
S&G Exp 520.00 790.00 892.00 900.00 945.00 992.25 1,041.86 1,093.50 1,120.00
Depreciation 90.68 104.28 119.92 134.91 151.77 170.75 192.09 216.10 243.11
Interest 45.34 52.14 59.96 67.46 75.89 85.37 96.04 108.05 121.56
Taxes 0.00 0.00 0.00 0.00 57.99 150.53 249.30 385.08 466.27
Depreciation includes amortization of
Total 3,195.02 3,865.70 3,470.28 3,463.29 3,659.03 3,917.40 4,220.51 4,503.98 4,989.84 3 rights of use of assets, technology &
of property plant & equipment.
COMMON SIZE STATEMENT - FinPay
REVENUE 100% 100% 100% 100% 100% 100% 100% 100% 100%
COGS 112% 112% 80% 70% 64% 59% 55% 50% 50%
GROSS PROFIT -12% -12% 20% 30% 36% 41% 45% 50% 50% Tax rate has been taken as 30% as per
SELLING AND ADM. EXPENSES 23% 30% 30% 27% 25% 23% 22% 20% 18% 4 Corporate Tax rate.
EBITDA -35% -42% -10% 3% 11% 18% 23% 30% 32%
DEPRECIATION 4% 4% 4% 4% 4% 4% 4% 4% 4%
INTREST 2% 2% 2% 2% 2% 2% 2% 2% 2%
EBT -41% -48% -16% -3% 5% 12% 17% 24% 26%
TAX 0% 0% 0% 0% 2% 4% 5% 7% 8%
NET INCOME -41% -48% -16% -3% 4% 8% 12% 17% 18%

Source: Team Analysis, Tracxn

EXECUITVE SUMMARY FINANCIALS 5