Sintercom India Limited has informed the Exchange about Investor Presentation
17th February, 2023
To, The Manager- Listing Department National Stock Exchange of India Limited Exchange Plaza, Plot No. C/1, G-Block, Bandra- Kurla Complex, Bandra (E) Mumbai 400 051, India
Symbol: SINTERCOM Series: EQ
Subject: Earnings Presentation Q3/9M-FY2023
Dear Sir/ Madam,
Please find enclosed herewith Earnings Presentation Q3/9M-FY2023
The same is for your information and records
Please take note of the same.
For and on behalf of Sintercom India Limited
Anuja Joshi Company Secretary & Compliance Officer
Sintercom India Ltd.
Investor Presentation- March 2021
EARNINGS PRESENTATION Q3/9M-FY23
Company Overview
• Established in 2007, Sintercom India Limited is the leading automotive sintered components manufacturer located in
Pune, India.
• The Company has integrated manufacturing facilities and has increased its capacity from 1,980 MTPA to 3,600 MTPA in
2019.
• The Company specializes in manufacturing medium to high-density sintered components for automotive engines,
powertrain, and exhaust systems and also manufactures sensor components that cater to global markets.
• The product portfolio includes drivetrain gears, engine sprockets, pulleys, crankshaft bearing journals, transmission
gears, and synchro hubs, as well as ABS rings and Sensor Hego bosses and flanges.
• Sintercom provides its esteemed customers with high-volume, high-precision, and low-cost components, tailored to their specific requirements. This is ensured by leveraging the integrated manufacturing facility adhering to rigorous quality standards.
• The company entered into a strategic tie-up with Miba Sinter with a Joint Venture and technology transfer agreement in
2011, and Miba also invested in Sintercom to become a co-promoter by taking around 26% stake in the company.
• Together with the technology leader Miba, the company is able to provide their customers with even more competitive
solutions with powder metal.
• Sintercom caters to OEMs like Maruti Suzuki Limited, Mahindra & Mahindra Limited, Bajaj Auto Limited, and Fiat India
Automobiles Private Limited and the company is a single-source supplier for various products as well.
• An in-house dedicated Research & Development team develops new products used in various applications of engine,
transmission, and body chassis for various automotive OEMs and Tier-1 customers.
700
600
500
400
300
200
100
0
Revenue (INR Mn) & EBITDA Margins (%)
535
472
599
625
13.27%
7.20%
8.85%
12.80%
FY20
FY21
FY22
9M-FY23
Operational Revenue
EBITDA Margin (%)
9M-FY23 Region Wise Revenue Breakup (%)
South (Chennai) 12.26%
North (NCR) 11.63%
West (Maharashtra/ Gujarat) 76.11%
Sintercom India Limited
Earnings Presentation
2
MIBA
• The Miba Sinter Group established in 1963, has decades of experience in the Sinter Technology and is one of the
leader in the Global Sintering Industry.
• Miba Sinter Austria GmbH manufactures high precision and sintered components. The Company offers engine bearings, friction materials, power electronics components, and coatings for engines, gearboxes, shock absorbers, specific applications, and compressors.
• They work closely with their customers to meet the challenges of the international automotive industry related to
making vehicles more efficient, environmentally friendly, and quieter.
• Backed up by a global presence, years of development experience, and quality standards, Miba’s customers are
guaranteed customized and cost-effective solutions.
• Through ongoing technological progress, the Miba Sinter Group creates high-end components for the vehicles of
tomorrow.
• Miba sintered components offer an efficient and cost-effective technology for mass production, are environmentally friendly due to the high level of recycled content and optimum utilization of materials make engines and transmissions significantly quieter than steel or castings.
• Miba Sinter Group expands its global network with strategic tie-up with Sintercom India Ltd.
• The Joint Venture and technology agreement with Sintercom provides access to various advanced sintered
technology solutions for the various Indian OEMs.
• With the growing opportunities in the Indian market, Miba Sinter Austria further invested in Sintercom India Ltd. for
an aggregate amount of approximately INR 222 Mn.
• Sintercom completed the raising of funds from Miba Sinter on a preferential private placement basis in the form of equity shares and compulsory convertible debentures (CCDs). Conversion of the CCDs was completed in July, 2022.
MIBA-Geographical Presence
Americas 19%
Asia 18%
344 EUR Mn Revenue
2,494 Employees
Europe 63%
6 Production Sites Globally
4.20 Research Ratio
Sintercom India Limited
Earnings Presentation
3
Client List
OEM Clients
TIER - 1
Sintercom India Limited
9M-FY23 Client-wise Revenue
PSA 0.01%
INA- Schaeffler 9.80%
Others 3.46%
Maruti Suzuki Limited 16.95%
Bhavani Industries 4.95%
Fiat India 2.19%
Bajaj Auto Limited 7.08%
Mahindra & Mahindra 55.56%
Client-wise Revenue (FY22)
Bhavani Industries 2.00%
INA- Schaeffler 4.72%
Others 3.49%
Maruti Suzuki Limited 15.78%
Dana Graziana (Off Road) 1.85%
PSA 1.21%
Fiat India 3.58%
Bajaj Auto Limited 13.88%
Mahindra & Mahindra 53.49%
Earnings Presentation
4
Business Portfolio
Bearing Cap
Cam to Cam Back Lash Gears
Chain Sprockets
Belt Pulleys
Mass Balancer Assembly
ENGINE
PRODUCTS
INDUSTRIAL GOODS
Liquid Dispensing Metering Parts
Synchro Rings
TRANSMISSION
ELECTRIC VEHICLES
Synchroniser Hubs
Interlock Finger
Drive Train Gears
Synchro Ring
BODY CHASIS
Oxygen Sensor Boss
Flange type Sensor Boss
Electric Power Steering
Soft Magnetic Composites
9M-FY23 Segment-wise Revenue
Body Chassis 1.70%
Transmission 39.37%
Engine 58.93%
Sintercom India Limited
Earnings Presentation
5
Key Financial Highlights
6
Q3/ 9M-FY23 Key Financial and Operational Highlights
Q3-FY23 Financial Performance
INR 213 Mn Revenue from Operations
INR (0) Mn
PAT
INR 29 Mn EBITDA
NA PAT Margins
13.62 % EBITDA Margins
INR 0.00/Share Diluted EPS
9M-FY23 Financial Performance
INR 625 Mn Revenue from Operations
INR (3) Mn
PAT
INR 80 Mn EBITDA
NA PAT Margins
12.80 % EBITDA Margins
INR (0.11)/Share Diluted EPS
Q3/ 9M-FY23 Operational Highlights:
Sales registered strong recovery during the quarter on a YOY basis. On a
QOQ basis sales were at similar levels as new launch for PSA were
deferred to Q4FY23.
EBITDA margins increased on a YOY and QOQ basis, owing to improved
capacity utilizations and higher sales volumes.
Capacity utilization for the quarter reached to around 50% and expect
same to increase further quarter over quarter with launch of new SOP
and a strong order book and demand pipeline.
Bajaj gears for higher CC engines started during the quarter.
•
•
•
•
• Overall outlook for next quarter is positive with strong demand for the
company products.
Sintercom India Limited
Earnings Presentation
7
Manufacturing Metrics
Capacity Utilization (MTPA)
Product Mix
3,600
3,600
3,600
3,600
1,035
976
1,360
1,359
60%
60%
60%
60%
40%
40%
40%
40%
FY20
FY21
FY22
9M-FY23
F Y 2 0
F Y 2 1
F Y 2 2
9 M - F Y 2 3
Utilisation
Capacity
OEM wise Sourcing
98%
93%
100%
65%
Maruti
Mahindra
Bajaj
Fiat
Dual Sourcing
Single Sourcing
Diesel
Gasoline
Segment Wise Revenue (INR Mn)
12.73
215.66
20.67
222.95
10.36
10.63
240.85
246.06
304.18
228.36
347.77
368.31
FY20
FY21
FY22
9M-FY23
Engine
Transmission
Body/Chasis
Sintercom India Limited
Earnings Presentation
8
Quarterly Financial Performance
Particulars (INR Mn)
Revenue from Operations
Expenses
EBITDA
EBITDA Margins (%)
Other Income
Finance cost
Depreciation and amortisation expenses
Profit before tax
Tax expense
PAT
PAT Margins (%)
Other Comprehensive Income
Total Comprehensive Income
Diluted EPS (INR)
Sintercom India Limited
Q3-FY23
Q3-FY22
213
184
29
151
138
13
Y-o-Y
41.1%
33.3%
NA
Q2-FY23
216
189
27
Q-o-Q
(1.4)%
(2.6)%
7.4%
13.62%
8.61%
501 Bps
12.50%
112 Bps
0
9
19
1
1
(0)
NA
0
(0)
0
7
19
(13)
1
(14)
NA
0
(14)
0.00
(0.51)
NA
28.6%
NA
NA
NA
NA
NA
NA
NA
NA
0
6
20
1
0
1
0.46%
0
1
0.03
NA
50.0%
(5.0)%
NA
NA
NA
NA
NA
NA
NA
Earnings Presentation
9
9M-FY23 Income Statement
Particulars (INR Mn)
Revenue from Operations
Expenses
EBITDA
EBITDA Margins (%)
Other Income
Finance cost
Depreciation and amortisation expenses
Profit before tax
Tax expense
PAT
PAT Margins (%)
Other Comprehensive income
Total Comprehensive income
Diluted EPS (INR)
Sintercom India Limited
9M-FY23
9M-FY22
625
545
80
12.80%
1
24
59
(2)
1
(3)
NA
0
(3)
405
375
30
7.41%
0
19
52
(41)
(6)
(35)
NA
0
(35)
(0.11)
(1.27)
Y-o-Y
54.3%
45.3%
NA
539 Bps
NA
26.3%
13.5%
95.1%
NA
91.4%
NA
NA
91.4%
91.3%
Earnings Presentation
10
Historical Income Statement
Particulars (INR Mn)
Revenue from Operations
Expenses
EBITDA
EBITDA Margins (%)
Other Income
Finance cost
Depreciation and amortisation expenses
Profit before tax
Tax expense
PAT
PAT Margins (%)
Other Comprehensive income
Total Comprehensive income
Diluted EPS (INR)
Sintercom India Limited
FY20
535
464
71
FY21
FY22
9M-FY23
472
438
34
599
546
53
625
545
80
13.27%
7.20%
8.85%
12.80%
1
38
68
(34)
(5)
(29)
NA
-
(29)
5
39
62
(62)
(15)
(47)
NA
-
(47)
2
29
71
(45)
(7)
(38)
NA
0
(38)
1
24
59
(2)
1
(3)
NA
0
(3)
(1.18)
(1.79)
(1.45)
(0.11)
Earnings Presentation
11
Balance Sheet
Equity and Liabilities (INR Mn)
FY21
FY22
H1-FY23
Assets (INR Mn)
FY21
FY22
H1-FY23
Share Capital
Reserves and Surplus
Total Equity
Non Current Liabilities
Long-term borrowings
Deferred tax liabilities (Net)
Long term provisions
Other long term liabilities
255
782
1,037
73
22
23
-
265
731
996
63
15
22
-
275
718
993
122
15
22
-
Sub Total Non Current Liabilities
118
100
159
Current Liabilities
Short-term borrowings
Trade payables
Other financial liabilities
Other current liabilities
Short-term provisions
Sub Total Current Liabilities
144
103
-
117
0
364
182
130
-
138
1
451
173
179
-
186
1
539
Non-current assets
Fixed assets
Property, Plant & Equipment
Other Intangible assets
Capital work-in-progress
Intangible assets under development
Long term loans & advances
Other non current assets
Sub Total Non Current Assets
Current assets
Inventories – For Goods
Inventories – For Spares/Tools
Trade receivables
Cash and cash equivalents
Short-term loans and advances
Other current assets
Sub Total Current Assets
TOTAL EQUITY AND LIABILITIES
1,519
1,547
1,691
TOTAL ASSTES
Sintercom India Limited
740
130
1
40
5
58
974
101
91
246
82
2
23
545
1,519
729
161
9
-
5
59
963
107
159
288
9
1
20
584
713
151
80
2
5
58
1,009
138
198
306
9
3
28
682
1,547
1,691
Earnings Presentation
12
Key Financial Highlights
Revenue (INR Mn)
EBITDA (INR Mn) & EBITDA Margins (%)
535
472
599
625
71
13.27%
53
8.85%
34
7.20%
80
12.80%
FY20
FY21
FY22
9M-FY23
FY20
FY21
FY22
9M-FY23
Cash Conversion Cycle (Days)
Net Debt/Equity (x)
172
85
239
0.27
0.29
0.24
0.13
FY20
FY21
FY22
FY20
FY21
FY22
H1-FY23
Sintercom India Limited
Earnings Presentation
13
Capital Market Data
1 Year Stock Price Return (As on 31st December, 2022)
30%
20%
10%
0%
-10%
-20%
-30%
Jan-22
Feb-22
Mar-22
Apr-22
May-22
Jun-22
Jul-22
Aug-22
Aug-22
Sep-22
Oct-22
Nov-22
Dec-22
Sintercom
NSE Small Cap 250
Price Data (As on 31st December, 2022)
Shareholding Structure (As on 31st December, 2022)
Face value (INR)
Market Price (INR)
52 Week H/L (INR)
Market Cap (INR Mn)
Equity Shares Outstanding (Mn)
1 Year Avg. trading volume (‘000)
Sintercom India Limited
10
101.00
117.50/77.40
2,780.31
27.52
17.55
Public 30.25%
Promoter 69.75%
Earnings Presentation
14
Disclaimer
Sintercom India Disclaimer:
No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this presentation. Such information and opinions are in all events not current after the date of this presentation. Certain statements made in this presentation may not be based on historical information or facts and may be "forward looking statements" based on the currently held beliefs and assumptions of the management of Sintercom India Ltd., which are expressed in good faith and in their opinion reasonable, including those relating to the Company’s general business plans and strategy, its future financial condition and growth prospects and future developments in its industry and its competitive and regulatory environment.
Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, financial condition, performance or achievements of the Company or industry results to differ materially from the results, financial condition, performance or achievements expressed or implied by such forward-looking statements, including future changes or developments in the Company’s business, its competitive environment and political, economic, legal and social conditions. Further, past performance is not necessarily indicative of future results. Given these risks, uncertainties and other factors, viewers of this presentation are cautioned not to place undue reliance on these forward-looking statements. The Company disclaims any obligation to update these forward-looking statements to reflect future events or developments.
This presentation is for general information purposes only, without regard to any specific objectives, financial situations or informational needs of any particular person. This presentation does not constitute an offer or invitation to purchase or subscribe for any securities in any jurisdiction, including the United States. No part of it should form the basis of or be relied upon in connection with any investment decision or any contract or commitment to purchase or subscribe for any securities. None of our securities may be offered or sold in the United States, without registration under the U.S. Securities Act of 1933, as amended, or pursuant to an exemption from registration there from.
This presentation is confidential and may not be copied or disseminated, in whole or in part, and in any manner.
Valorem Advisors Disclaimer:
Valorem Advisors is an Independent Investor Relations Management Service company. This Presentation has been prepared by Valorem Advisors based on information and data which the Company considers reliable, but Valorem Advisors and the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded. Valorem Advisors also hereby certifies that the directors or employees of Valorem Advisors do not own any stock in personal or company capacity of the Company under review.
rFor further details, please feel free to contact our Investor Relations Representatives: e m i a l c s i D
Certain statements in this document may be forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties like regulatory changes, local political or economic developments, and Mr. Anuj Sonpal many other factors that could cause our actual results to differ materially from those contemplated by the Valorem Advisors relevant forward-looking statements. Gravita India will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to Tel: +91-22-49039500 reflect subsequent events or circumstances. Email: sintercom@valoremadvisors.com
Sintercom India Limited
Earnings Presentation
15
Thank You!
16