S.J.S. Enterprises Limited has informed the Exchange about Investor Presentation
May 15, 2023
To,
National Stock Exchange of India Limited Exchange Plaza, 5th Floor, Plot No. C/1, G Block, Bandra – Kurla Complex, Bandra (E), Mumbai -400 051
BSE Limited Corporate Relationship Department, 2nd Floor, New Trading Wing, Rotunda Building, P.J. Towers, Dalal Street, Mumbai – 400 001
Symbol: SJS
ISIN: INE284S01014
Dear Sir/Madam,
Scrip Code: 543387
Subject: Earnings Call Presentation of the Company pertaining to quarter and year ended 31st March 2023
In continuation to the letter dated May 15, 2023 with respect to the earnings presentation filed with Stock Exchange, we hereby submit the revised earnings presentation on the Audited Financial Results of the Company for the quarter and year ended 31st March 2023, as there was minor typo in the earlier earnings presentation.
Please read ‘Q4FY23 Earnings Call Time 11:30 AM IST’ as ‘11:00 AM IST’ under the heading “Q4FY23 Earnings Call Invite” in slide no 30.
Also, this presentation will be uploaded on the website of the Company at https://www.sjsindia.com/
Request you to kindly take the above on record.
Thank you, Yours faithfully, For S.J.S. Enterprises Limited
Thabraz Hushain W. Company Secretary & Compliance Officer Membership No.: A51119 Encl: As mentioned above
SJS Enterprises Limited
Q4 & FY23 EARNINGS PRESENTATION
SJS| Disclaimer
Certain statements made in this presentation relating to the Company’s objectives, projections, outlook, expectations, estimates, among others may constitute ‘forward-looking statements’ within the meaning of applicable laws and regulations. Actual results may differ from such expectations, projections etc., whether express or implied. These forward-looking statements are based on various assumptions, expectations and other factors which are not limited to, risk and uncertainties regarding fluctuations in earnings, competitive intensity, pricing environment in the market, economic conditions affecting demand and supply, change in input costs, ability to maintain and manage key customer relationships and supply chain sources, new or changed priorities of trade, significant changes in political stability in India and globally, government regulations and taxation, climatic conditions, natural calamity, commodity price fluctuations, currency rate fluctuations, litigation among others over which the Company does not have any direct control. These factors may affect our ability to successfully implement our business strategy. The company cannot, therefore, guarantee that the ‘forward-looking’ statements made herein shall be realized. The Company, may alter, amend, modify or make necessary corrective changes in any manner to any such forward looking statement contained herein or make written or oral forward-looking statements as may be required from time to time on the basis of subsequent developments and events
Q4FY23 Earnings Presentation
March 2023
2
SJS| Today’s Presenters
K A JOSEPH Managing Director
SANJAY THAPAR CEO & Executive Director
MAHENDRA NAREDI Chief Financial Officer
DEVANSHI DHRUVA Head–Investor Relations
• Founded the company in 1987
• More than 34 years of
experience in aesthetics printing business
• Post graduate diploma in
business administration from the St. Joseph’s College of Business Administration, Bangalore; B.Sc from Bangalore University
• Over 30 years of experience in
the automotive industry
• Previously worked with Ashok Minda Group, Minda Valeo Security Systems, Minda HUF Limited, Tata Engineering and Locomotive Company Limited (now known as Tata Motors Limited)
• Bachelor’s degree in science
(mechanical engineering) from the Delhi College of Engineering
• 20+ years of experience in financial management, key accounting & financial analysis, FP&A, fundraising, M&As, legal & compliances, and strategy.
• Previously worked in Minda Corporation, Wipro & GE
• Bachelor’s degree in Law & Commerce from Rajasthan University, Chartered Accountant and Company Secretary from ICAI and ICSI
• Previously worked with Westlife
Development Limited (McDonald’s India) and Piramal Enterprises Limited managing Investor Relations. Earlier worked as Equity Research Analyst with Dolat Capital Markets Pvt. Ltd.
• PGDM – Finance from K J
Somaiya Institute; M.Com & B.Com (Accounting & Finance) from University of Mumbai
Q4FY23 Earnings Presentation
March 2023
3
SJS| Premium aesthetics products manufacturer Overview
Key Facts
Rs 4,330.5 Mn Revenue FY23
26.4% EBITDA margin FY23
2 Production facilities
(Bangalore, Pune)
~2000 Workforce
22 Countries served
175+ Customer locations (Mar’22)
6,700+ SKUs (FY23)
136 Mn Parts supplied (FY23)
Established market leader in an attractive business segment
Operates in the high value-add aesthetics market across multiple consumer-oriented end industries; increased focus on aesthetics and premium content creating opportunity throughout the component supply chain: SJS well-positioned to capitalize on the trends
Differentiated, comprehensive product portfolio
Leading edge technologies and a wide product suite including decals, appliques/dials, overlays, logos/3D lux, aluminium badges, in-mold decoratives (IMD), optical plastics and lens mask covers for diverse applications
Legacy of technology and innovation: in-house design / development
Strong in-house design and engineering capabilities and innovation track record across technologies and materials; history of new product development and successful supported by a dedicated R&D team
products, commercialization
Long-standing core customer base consisting of leading OEMs
Partner, co-creator and supplier of choice to several durables industry; dominant share of business in India and focused strategy to increase global presence
leading OEMs in the automotive and consumer
Well-invested, lean operations designed to support multi-fold revenue
New state-of-the-art manufacturing facility commissioned in 2018 to support future growth
Market leadership in India for Aesthetic Products
Demonstrated product portfolio expansion
Design-backed new product development
Entrenched customer relationships
Well invested for the next 3-5 years
Q4FY23 Earnings Presentation
March 2023
4
Q4FY23 Business & Financial Highlights
SJS| Q4FY23 Highlights
•
•
SJS grew ahead of the auto industry (2W + PV) compared to flattish performance in auto industry production volumes during the quarter
Total Revenue at Rs 1065.7 mn, on back of 17.2% YoY growth in PV segment
• We continue to generate strong cash flows & have a robust cash & bank balance at Rs 1,648.2 Mn • Debt free company on net debt basis
• Added Litemed in medical equipment segment and entered TV segment with first order win from Samsung in
Consumer segment during Q4FY23
Free eye check up done for 1200 children across 13 Government schools
• • Distributed school bags and arranged for benches / round tables for Government schools
In April 2023, SJS announced to acquire 90.1% stake in Walter Pack India (WPI) for a consideration of Rs 2,393 Mn 6
Q4FY23 Earnings Presentation
March 2023
SJS| Consistently Outperforming Auto Industry
Q4FY23 - Industry Production Volume1 v/s SJS YoY Sales2
Industry SJS
Decline due to regulatory headwinds of implementation of BS VI - Stage II norms from 1st April 2023
17.2%
13.0%
(3.0%)
(6.3%)
3.6%
0.1%
+
FY23 - Industry Production Volume1 v/s SJS YoY Sales2
Industry SJS
23.1%
9.2%
27.8%
25.4%
25.1%
11.9%
+
2W and Consumer Durables performance impacted YoY growth
2.4%
Decline in Exports & consumer durables adversely impacted YoY growth
18.3%
Note: 1) Industry Production Volumes are production in India; 2) For SJS YoY Sales it is Consolidated numbers
Q4FY23 Earnings Presentation
March 2023
7
SJS| Q4FY23 Business Highlights Strong growth story continues…
Growing Mega Accounts - Key Business Projects Won
Adding New Customers
Medical Equipments
TV Segment – Consumer Appliances
Electric Vehicle
Q4FY23 Earnings Presentation
8 March 2023
8
SJS | Awards & Recognition
3 times in a row, SJS certified as a Great Place to Work among mid size organisations, in Feb 2023
Q4FY23 Earnings Presentation
March 2023
9
SJS | ESG Framework
EHS Policy • Compliance with Laws • Prevention of Pollution • Monitoring of Environmental
& Safety Performance • Continual Improvement
Sustainable Operations
• Material Management • Energy Management • Waste Reduction • Resource Efficiency
Human Capital
Employee Engagement
• • Diversity • Health & Safety • Collaboration
Inclusive Growth • Local Community • Customer Satisfaction • Product Quality • Training & Development
Risk Management
Stakeholder Management
• • Code of Conduct • Accountability • Business Principles • Adaptation of New Technologies
SOCIAL
ENVIRONMENTAL
GOVERNANCE
Ethical Business • Business Ethics • Regulatory Compliance • Anti-competitive behaviour • Economic performance
Q4FY23 Earnings Presentation
March 2023
10
SJS | CSR – Serving the Community
Free eye check up done for 1200 children across 13 Government schools 800 school bags distributed and 65 benches / round tables supplied to Government schools
800 School Bags were distributed to 13 near by Government schools
1200 school children benefitted from free eye check up camp conducted at 13 Government schools. 117 Spectacles given to children who have abnormality in their vision
E-Learning kit given to 7 Govt. Schools and Computers given to Police Station
65 Benches and round tables distributed to Government Schools
Q4FY23 Earnings Presentation
March 2023
11
SJS| Q4FY23 Financial Performance (Consolidated)
Resilient performance…
2.4% YoY growth
1.8% YoY growth
0.2% YoY growth
• Revenue* at Rs 1,065.7 Mn on account of 17.2% YoY growth in PV segment -
outperforming the underlying industry
• EBITDA* at Rs 271.8 Mn, EBITDA margins of 24.8%, impact of 57bps YoY on
account of change in product mix and lower exports
• Net Profit* at Rs 153.9 Mn, with a margin of 14.4%
• Overall Domestic sales clocked 5.5% YoY growth; on back of 24.4% YoY growth in
PV segment for the Company
Q4FY23 Earnings Presentation
12
March 2023
12
SJS| FY23 Financial Performance (Consolidated) Consistently delivering robust performance despite challenging environment…
18.3% YoY growth
23.2% YoY growth
28.8% YoY growth
• Revenue at Rs 4,330.5 Mn on account of 25.1% YoY growth in automotive (2W+PV) segment - outperforming the underlying industry growth of 11.9%
• EBITDA at Rs 1,167.8 Mn with EBITDA margins at 26.4%, an improvement of 75
bps on back of higher sales and operational efficiencies
• Net Profit at Rs 672.5 Mn, with a margin of 15.5%, an improvement of 127 bps YoY
• Overall domestic sales clocked 24.2% YoY growth. PV business grew 33.5% YoY
and 2W business grew 27.3% YoY
Note: FY22 Sales, EBITDA, PBT & PAT are adjusted for provision of discount of Rs. 37.61 Mn on a customer sales that was created during FY21 and which was later reversed in December 2021
Q4FY23 Earnings Presentation
13
March 2023
13
SJS| Diversified Revenue Portfolio
Revenue by end segment
FY22
FY23
44.8%
42.6%
Macro economic uncertainties in Europe & NA, geo-political issues, rising inflation & interest rates led to subdued demand & lower production volumes
32.5%
29.8%
19.6%
15.4%
8.0%
7.3%
100.0%
90.0%
80.0%
70.0%
60.0%
50.0%
40.0%
30.0%
20.0%
10.0%
0.0%
Revenue by Geography
FY22
FY23
92.6%
87.3%
Exports declined due to ongoing war in Europe & subdued demand in North American markets
12.7%
7.4%
2W
PV
Consumer Durables
Others
Domestic
Exports
New generation products contributed ~9-10% of revenue during FY23, impacted due to drop in exports
Q4FY23 Earnings Presentation
March 2023
14
SJS| Consolidated P&L Performance
Particulars (INR in Mn)
Q4FY23
Q4FY22
YoY%
Q3FY23
QoQ%
FY23
FY221
YoY%
Operating Revenue
1065.7
1041.1
2.4%
1063.7
0.2%
4330.5
3661.0
18.3%
EBITDA
EBITDA Margin %
Reported PAT
PAT Margin %
Adjusted PAT
PAT Margin %
271.9
24.8%
153.9
14.4%
153.9
14.4%
267.0
25.3%
153.6
14.8%
153.6
14.8%
1.8%
0.2%
0.2%
284.0
26.1%
157.1
14.8%
157.1
14.8%
-4.3%
-2.1%
-2.1%
1,167.9
26.4%
672.5
15.5%
672.5
15.5%
947.7
25.6%
550.2
15.0%
522.0
14.3%
23.2%
22.2%
28.8%
Note: 1) Exceptional item – Rs. 37.61 Mn of provision for discount on a customer sale created during FY21 was reversed in December 2021 resulted in increased Sales, EBITDA, PBT & PAT of FY22.
Q4FY23 Earnings Presentation
15
March 2023
15
SJS| Consolidated Balance Sheet Performance
• Strong Cash & cash equivalents position (including Investments) of ~Rs 1,648.2 Mn
as on 31st Mar 2023
• Strong Cash Flow generation of ~Rs 609.5 Mn for FY23 • FCFF to EBITDA stood at 52.2% for FY23
• Debt free Company on net debt basis •
Long term borrowing rating from ICRA is A+(Stable)
• Robust return ratios with ROCE at 33.1% and ROE at 15.7%
Note: ROCE = EBIT /(Total Assets - Cash, Bank & Investments - Current liabilities)
ROE = PAT /Shareholder’s Funds
Q4FY23 Earnings Presentation
16
March 2023
16
Walter Pack India Acquisition
SJS| Announced acquisition of 90.1% stake in Walter Pack India in April 2023
Overview
• Founded in 2006 and headquartered in Pune, Walter Pack Automotive Products India Pvt. Ltd. (WPI) is a leader in design and development of high value-added functional decorative parts in India with focus on IMF(1), IML, IMD and IME(2) technologies for automotive and appliance sectors
• Manufacturing capabilities include screen printing, thermoforming, cutting, overmoulding etc. • 2/3rd of WPI revenues are from the automotive segment (PV) and the balance is from consumer segment • WPI had provisional revenues of ~INR 1,200 Mn in FY23 with an EBITDA Margin of ~30% • WPI has a total headcount of ~300 employees
Transaction Overview
• SJS has agreed to acquire 90.1% of Walter Pack India for INR 2,393 Mn translating to an LTM EV / EBITDA of ~7x • SJS will acquire 85.0% stake from Walter Pack Spain & 5.1% from the Indian promoter and founder, Roy Mathew • The acquisition will be funded as follows:
o INR 300 Mn by means of preferential placement to K A Joseph at INR 500 / share which is higher than the per equity share price of Rs 445.5 (12% premium) computed in accordance with the as per SEBI ICDR Regulations
o INR 750 Mn to be financed by additional debt from Bajaj Finance at an interest rate of 9.5% per annum o INR 1,343 Mn from existing cash balance
• SJS has signed a 3-year technology support agreement with Walter Pack Spain for ongoing exchange of know-how
Rationale • Monopoly: WPI is the leader in India for IML technology and proficient in IMD, IMF and IME technologies, which
helps command rich EBITDA margins (~30% in FY23P)
• End industry Diversification: Acquisition will help diversify SJS’ end industry revenue split • Synergies: Strong potential to acquire new customers and increase share of wallet with existing customers. • EPS Accretive: Further, the acquisition would be earnings accretive and would aid enhancement of scale (WPI
EBITDA is ~1/3rd of SJS EBITDA)
1.
In-mold forming;
2.
In-mold electronics
Manufacturing locations
Manufacturing plant, Manesar
Manufacturing plant, Pune
Post acquisition corporate structure
SJS Enterprises
100.0%
90.1%
Exotech
Walter Pack India
Roy Mathew 9.9%
Q4FY23 Earnings Presentation
March 2023
18
SJS| Key New Technologies Added Through Acquisition (2/2)
In-Mold Decoration (IMD)
• IMD allows to decorate plastic parts in the injection moulding process, by transferring the inks and coating printed on the carrier film that runs through the cavity of the injection mould, leaving the intended designs printed on the injected part
• This technology is complementary to IMF for parts with less geometric complexity
In-Mold Forming (IMF)
• IMF is WPI's core business • This technique is used to produce high-quality three-dimensional plastic parts with decorative finishes, which
are robust and resistant to abrasion and wear
In-Mold Electronics (IME)
• IME allows to integrate electronic functionality and even hybridization of electronic components in films which, once thermoformed under high pressure, are introduced into the injection mould along with the decorative insert, providing decorated parts with electronic functionality
High-margin Products
Mid Panel
Gear Shift Bezels
Switch Plates
FATC Bezel
Logos
Wheel Caps
Q4FY23 Earnings Presentation
March 2023
19
SJS| Key New Technologies Added Through Acquisition (2/2)
Technology
2K Injection Moulding
Plastic Painting
Laser Decoration (Automatic / Red Laser)
Silk Screen Printing
Large parts Forming Technology (Low / High Pressure)
Cutting (3D Die Cutting / 6 Axes Milling)
Pad Printing (Robot Assisted)
Hot Stamping
Large Parts Chrome Film Decoration
Assembly
Laser Cutting
Chrome Plating (Bright / Satin / Dark chrome)
Printing on pressure sensitive films
IML / IMD Tool Design Capabilities
Design & Styling capabilities (Design Studio)
In Mould Forming (IMF)
*** Limited capability
SJS + Exotech
Walter Pack India
***
***
Q4FY23 Earnings Presentation
March 2023
20
SJS| Roy Mathew: Experienced professional with relevant technology experience
•
•
•
•
•
Founded Walter Pack India in 2006 in Pune in collaboration with Walter Pack Spain
Expertise in handling business development, design and operations functions of the Company
•
Has been instrumental forging relationships with various OEM’s
in the growth of the India business by
Roy has immense experience in various plastic technologies like printing, IMF, IMD, injection moulding, lighting, plastronics etc.
•
He was instrumental in developing the early IMF parts in India for components like Climate control panels, Interior trims, facias
Prior to founding Walter Pack India, Roy has worked with with various companies like Lumax Industries Ltd and Tek Electromechanicals Pvt Ltd
Roy holds an engineering degree in Plastic Tools Engineering
Q4FY23 Earnings Presentation
March 2023
21
Future Growth Outlook
SJS | One stop aesthetics solution provider
Transforming SJS with a well diversified product suite addressing every requirement of varied customer base
PV (Interior View)
Rs 1200 – 1500 Per vehicle
Legacy Kit Value
3 - 4x growth Per vehicle
Future Kit Value
Q4FY23 Earnings Presentation
March 2023
23
SJS | One stop aesthetics solution provider
Transforming SJS with a well diversified product suite addressing every requirement of varied customer base
PV (Exterior View)
Q4FY23 Earnings Presentation
March 2023
24
SJS | One stop aesthetics solution provider
Transforming SJS with a well diversified product suite addressing every requirement of varied customer base
Two Wheeler
Rs 300 - 500 Per vehicle
Legacy Kit Value
1.5 - 2x growth Per vehicle
Future Kit Value
Q4FY23 Earnings Presentation
March 2023
25
SJS | One stop aesthetics solution provider
Transforming SJS with a well diversified product suite addressing every requirement of varied customer base
Rs 50 - 150 Per appliance
Legacy Kit Value
3 - 4x growth Per appliance
Future Kit Value
Q4FY23 Earnings Presentation
March 2023
26
Consumer Appliances
SJS| Organic growth expected at ~20-25% CAGR, with best-in-class margins
Strategy for organic growth over FY23-26
Exports : Increasing global presence • Penetrate deeper in existing geographies and enter new geographies
• Strong focus on expanding presence in ASEAN
• Strengthening our sales force in Turkey, Brazil, Argentina and Columbia and exploring similar opportunities in other countries
Products : Focus on development of new technologies & advanced products •
Intend to develop and introduce Illuminated logos, In Moulded Electronic (IME) parts and other new gen technologies
• Continue to build capabilities to innovate & develop new products & increase application of products across industries
Key Customers : Growing mega accounts • Building mega accounts with existing customers by expanding the array of products
•
Increase customer base by marketing existing products to new customers and explore cross selling opportunities between SJS and Exotech
Capacity Expansion : Expand chrome plating capacity to meet higher demand pipeline • •
Double the chrome plating capacity to support revenues of Rs 3,000 Mn from the current Rs 1,300 Mn capacity Higher capacity will also enable entry into global markets
Q4FY23 Earnings Presentation
March 2023
27
SJS| Inorganic Growth Expected to Boost Organic Growth Trajectory
Merger & Acquisitions Strategy
SJS successfully integrated Exotech business and demonstrated credible business improvement in Exotech’s FY23 performance:
• 36.0% YoY growth in Revenue, increasing from Rs 1,020.2 Mn to Rs 1,387.3 Mn in FY23.
• Cost synergies & efficiency resulted in Exotech EBITDA margin expansion by 235 bps YoY from 12.8% in FY22 to 15.2% in FY23. Continuous improvement initiatives led to a cumulative expansion in EBITDA margins by ~300 bps from FY21 to FY23.
SJS will continue ahead with more business accretive acquisitions & the rationale for it will be:
Build capability in adjacent / new aesthetic product categories Identified key product categories to enter / expand presence which include: • • •
IMD / IML IME (In-Mould Electronics) Plastic injection moulding
Expand presence in consumer related industries Enter new segments and expand presence in other consumer related industries targeting • Appliance manufacturers • Consumer electricals
Enter new geographies / OEMs for chrome plating • Expand presence in chrome plating (largest segment)
and increase cross selling opportunities • Overcome logistics cost as bulky parts • Provides direct entry into OEMs to support cross
selling opportunities
Announced acquisition of WPI; Aid in revenue growth acceleration and will be EPS accretive from FY24 itself
Note: 1) FY21 EBITDA Margins is excluding one time gain on sale of land to the extent of Rs 53.83 Mn
Q4FY23 Earnings Presentation
March 2023
28
SJS| FY24 Outlook
▪ SJS will continue to outperform the industry despite the continuing macro economic headwinds in export markets and gradual
recovery in domestic 2W market
▪ SJS expects over 50% YoY revenue growth on account of expected positive outlook for 2W, PV and Consumer Durables
▪ Premiumisation + New Customer Wins + Exports + WPI Acquisition = Higher than industry sales growth for SJS
▪ High visibility : Current order book to be executed in FY24 is over 85% of FY24 forecasted revenue
▪ SJS expects WPI acquisition to be significantly EPS accretive in current year itself. WPI would add incremental scale to SJS given
WPI’s EBITDA is approximately one-third of SJS’ EBITDA
▪ Robust margin profile of business and expected operating leverage to drive PAT growth of ~40% YoY for FY24 as we
balance higher growth with margins
FY23 Performance (INR Mn)
YoY Growth %
Revenue
EBITDA*
EBITDA margin
PAT *
PAT Margin
4,330.5
1,167.8
26.4%
672.5
15.5%
18.3%
23.2%
28.8%
• Continue to maintain best-in-class margins
• Strong cash flow generation of Rs 609.5 Mn in
FY23
• Debt free company as of 31st Mar’23
Note: 1) Exceptional item – Rs. 37.61 Mn of provision for discount on a customer sale created during FY21 was reversed in December 2021 resulted in increased Sales, EBITDA, PBT & PAT of FY22.
Q4FY23 Earnings Presentation
March 2023
29
Q4FY23 Earnings Call Invite
SJS Enterprises Limited
SJS Enterprises Limited (BSE: 543387) announced its results for the quarter and year ended March 31, 2023, on May 15th, 2023. Following the announcement, the management team will host a conference call for investors and analysts on May 16th, 2023, at 11:00 AM IST. The call will commence with a brief discussion on the previous quarter’s performance followed by an interactive question and answer session. Call details are below:
Date
Time
16th May, 2023
11:00 AM IST | 01:30 PM HK/SG | 06:30 AM UK (London) | 01:30 AM EST USA
Duration
60 minutes
Universal Dial in
+91 22 6280 1145 | +91 22 7115 8046
International Toll Free
HK: 800 964 448 | SG: 800 101 2045 | UK: 0 808 101 1573 | USA: 1 866 746 2133
Diamond Pass Link
https://services.choruscall.in/DiamondPassRegistration/register?confirmationNumber=8416754&link SecurityString=2be08feb8c
Note: Please dial in at least 10 minutes prior to the schedule to ensure that you are connected in time. Audio and transcript will be available with in ten working days after the call on Investors page of company website (www.sjsindia.com). For further information, please contact: Devanshi Dhruva | devanshi@sjsindia.com
Q4FY23 Earnings Presentation
March 2023
30
THANK YOU
IR Contact Ms. Devanshi Dhruva | Head - Investor Relations devanshi@sjsindia.com
Appendix
SJS| Longstanding history of design backed manufacturing excellence Evolution into a leading design and aesthetics focused business
2021
Exotech Plastics Acquisition completed to further complement product suite with addition of chrome products
2019-20
Introduced premium / technologically advanced products (formed dials, Optical plastics, lens mask assemblies) and expanded PV customer base with new product range
2018
New manufacturing facility commissioned with 225,000 sq.ft. area and significant capacity boost
2015-17
Entry into new product lines - IMD parts, aluminum & electro formed badges
2015
Everstone Capital acquired a majority stake; exit by Serigraph
2010-14
New product addition in premium segment – 3D Lux etc.
2006
Joint Venture with Serigraph, a US based commercial printing player
1987 SJS founded by three entrepreneurs
Q4FY23 Earnings Presentation
March 2023
33
SJS| Diverse Product Portfolio…(1/2)
Decals & Body Graphics
2D Appliques & Dials
Domes
3D Appliques & Dials
3D Lux Badges
Aluminium Badges
Q4FY23 Earnings Presentation
March 2023
34
SJS| Diverse Product Portfolio…(2/2)
Overlays
Lens Mask Assembly
Chrome plated parts
IMLs / IMDs
Optical Plastics
Aftermarket – “Transform”
Without Anti glare/ Anti Reflection
With Anti glare/ Anti Reflection
Q4FY23 Earnings Presentation
March 2023
35
SJS| Superior financial metrics and resilient business model
Revenue from Operation (INR Mn)
EBITDA (INR Mn) and EBITDA Margin (%)
5000.0
4000.0
3000.0
2000.0
1000.0
0.0
4330.5
3698.6
2372.6
2161.7
2516.2
FY 19
FY 20
FY 21
FY 22
FY 23
1,500.0
1,000.0
500.0
-
31.0%
31.2%
26.7%
643.2
686.1
797.0
985.3
26.3%
1,167.8
26.4%
FY19
FY20 EBITDA
FY21 Margin
FY22
FY23
32.0%
30.0%
28.0%
26.0%
24.0%
22.0%
PAT (INR Mn) and PAT Margin (%)
ROCE (%)
800.0
600.0
400.0
200.0
-
18.7%
18.7%
15.6%
14.9%
15.5%
376.0
412.9
477.6
550.2
672.5
FY19
FY20
FY21
FY22
FY23
PAT
Margin
20.0%
15.0%
10.0%
5.0%
0.0%
35 30 25 20 15 10 5 0
Note: FY22 and FY23 figures consolidated for SJS and Exotech (Reported fianncials)
28.3
26.4
31.6
27.1
33.1
FY 19
FY 20
FY 21
FY 22
FY23
Q4FY23 Earnings Presentation
March 2023
36
SJS| Experienced & Qualified Board & Management Team
K A Joseph Managing Director – Promoter & Co-founder
❖ More than 34 years of experience in aesthetics printing business
❖ Leads the manufacturing operations for the Company and has
spearheaded technological and product innovation over the years
❖ Also a director on the board of Exotech
Ramesh Chandra Jain Non-Exec Chairman & Independent Director
❖Worked for 25 years in Eicher & retired as group vice chairman
❖Received the Society of British Aerospace Companies Prize in Aircraft
Production ,1972-73 from the Cranfield University,
s r o t c e r i D
f o d r a o B
s P M K
Sanjay Thapar Executive Director and CEO
❖ Over 30 years of experience in the auto industry
❖ Previously Group Chief Strategy Officer with
Ashok Minda Group; MD of Minda Valeo Security Systems
Vishal Sharma Nominee Director
❖ MD - investments and operations with
Everstone Capital Advisors Private Limited
❖ Previously worked with BCG India (1); Sapient
Corp (now known as Publicis Sapient)
Mahendra Naredi Chief Financial Officer
❖ 20+ years of experience in financial management and analysis, key accounting and strategy. Previously worked in Minda Corp, Wipro & GE
Kevin K. Joseph Executive Director
❖ Holds a bachelor’s degree in mechanical
engineering
❖ Previously worked with Tata Elxsi Limited as
a senior design engineer
Kazi Arif Uz Zaman Nominee Director
❖ Ex-MD – private equity with Everstone
Capital
❖ Presently a partner of GestAlt Network
LLP
R. Raju Chief Marketing Officer
❖ Has over 22 years of experience in the field of marketing; Previously worked with ITW India Limited, ITW Signode India Limited etc.
Matthias Frenzel Non-Executive & Independent Director
❖ Previously worked with Visteon Electronics Germany GmbH, S-Y Systems Technologies Europe GmbH and Johnson Controls GmbH
Veni Thapar Non-Executive Independent Director
❖ Presently a partner of V K Thapar & Company,
Chartered Accountants
❖ Was on the board of Bank of India as a part-time, non-official director under the CA (2) category
Sadashiva Baligar Chief Operation Officer
❖ Previously worked with Motherson
Automotive Technologies, Automotive Manufacturers (Malaysia) SDN BHD, Toyota Kirloskar etc.
Note: (1) BCG India – Boston Consulting Group (India) Private Limited; (2) Chartered Accountant
Q4FY23 Earnings Presentation
March 2023
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