Sintercom India Limited has informed the Exchange about Investor Presentation
22nd November, 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
Dear Sir/ Madam,
Subject: Earnings Presentation Q2/H1-FY24
Please find enclosed herewith Earnings Presentation Q2/H1-FY24
Please take the note of the same.
For and on behalf of Sintercom India Limited
Jignesh raval Managing Director
Sintercom India Ltd.
Investor Presentation- March 2021
EARNINGS PRESENTATION Q2/H1-FY24
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.
Revenue (INR Mn) & EBITDA Margins (%)
472
7.20%
599
9.02%
822
13.87%
409
16.38%
900
800
700
600
500
400
300
200
100
0
FY21
FY22
Operational Revenue
FY23
H1- FY24 EBITDA Margin (%)
H1-FY24 Region Wise Revenue Breakup (%)
South (Chennai) 24.76%
East 0.74%
North 18.43%
• 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.
West (Maharashtra/ Gujarat) 56.07%
Sintercom India Limited
Earnings Presentation
2
Miba Overview
Manufacturing Prowess
Global Footprint
Financial Strength
Powder Metal Process Expertise
Sintered Components
Engine & Industrial Bearings
Friction Materials
Power Electronics Components
e- Mobility Solutions
Coatings
Special Machinery
Sintercom India Limited
WORLDWIDE 30 PRODUCTION SITES 7,400 EMPLOYEES
AMERICAS 09 PRODUCTION SITES 1,300 EMPLOYEES
EUROPE 16 PRODUCTION SITES 4,800 EMPLOYEES
ASIA 05 PRODUCTION SITES 1,300 EMPLOYEES
971
Revenue* (in EUR million)
7366
Employees (as at Jan 31, 2022)
30
Production Sites (as at Jan 31, 2022)
401
Valid Patents (as at Jan 31, 2022)
83
Investments* In Property, Plant & Equipments & R&D (in EUR Million)
50.5
Equity Ratio (In Percent)
4.2
Research Ratio* (in Percent)
67
Patent Applications**
Added Value
• Comprehensive Advice • Design and Validation • Choice Of Material • Cost Effectiveness • Fast Project Implementation • Operational Excellence
Components & System Testing
• Engineering Know – How and Test Rigs
In – House
• PM Laboratory, Test Laboratory
Driving R&D
• R&D Spending As & of Sales • International Partnerships
Earnings Presentation
3
Client List
Sintercom Clientele:
Miba Clientele:
Mahindra & Mahindra, 46.12%
H1-FY24 Client-wise Revenue
Bajaj Auto Limited, 6.75%
Bhavani Industries, 2.40%
PSA, 15.65%
INA- Schaeffler /Catensys, 8.23% Dana Graziana (Off Road), 0.52%
Others, 1.71%
Maruti Suzuki Limited, 18.62%
Sintercom India Limited
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
BODY CHASIS
Synchroniser Hubs
Interlock Finger
Drive Train Gears
Synchro Ring
Electric Power Steering
Soft Magnetic Composites
H1- FY24 Segment-wise Revenue
Body Chassis 1.26%
Oxygen Sensor Boss
Flange type Sensor Boss
Transmission, 36.91%
Engine, 61.83%
Sintercom India Limited
Earnings Presentation
5
Key Financial Highlights
6
Key Financial and Operational Highlights
Q2-FY24 Financial Performance
Q2/H1- FY24 Operational Highlights:
INR 219 Mn Revenue from Operations
INR 3 Mn PAT
INR 35 Mn EBITDA
1.37% PAT Margins
15.98% EBITDA Margins
INR 0.10/Share Diluted EPS
H1-FY24 Financial Performance
INR 409 Mn Revenue from Operations
INR 3 Mn PAT
INR 67 Mn EBITDA
0.73% PAT Margins
16.38% EBITDA Margins
INR 0.10/Share Diluted EPS
• Flattish YOY sales for the H1 FY 24. QOQ registered sales growth of 13% mainly coming
from the new products getting into serial production.
• On a YOY basis EBITDA has increased to 16.6% as against 12.36%. Registering a growth of around 34% mainly due to the easing of the RM prices during the quarter and various cost reduction initiatives taken by the Company.
• New programs like MBS gears and assembly, and Syncro rings for the off-road segment
commenced serial production and are in the ramp-up stage during the quarter.
• New award wins Intermediate gear for Auto transmission project for TACO Punch
powertrain awarded during Q1FY24.
• Outlook for next quarter strong with MBS gears and assembly ramp-up schedules received. Quarter over quarter strong order book to support growth production
Sintercom India Limited
Earnings Presentation
7
Manufacturing Metrics
Capacity Utilization (MTPA)
Product Mix
3,600
3,600
3,600
976
1,360
1,790
1,800
945
60%
60%
60%
60%
40%
40%
40%
40%
FY21
FY22
FY23
H1-FY24
F Y 2 1
F Y 2 2
F Y 2 3
H 1 - F Y 2 4
Utilisation
Capacity
OEM wise Sourcing
98%
93%
100%
65%
Diesel
Gasoline
Segment Wise Revenue (INR Mn)
10.36
240.85
15.46
309.61
5.15
150.96
347.77
496.80
252.88
20.67
222.95
228.36
Maruti
Mahindra
Bajaj
Stellantis
Dual Sourcing
Single Sourcing
FY21
FY22
FY23
H1- FY24
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
Q2-FY24
Q2-FY23
219
184
35
216
189
27
Y-o-Y
1.4%
(2.6)%
29.6%
Q1-FY24
190
159
31
Q-o-Q
15.3%
15.7%
12.9%
15.98%
12.50%
348 Bps
16.32%
(34) Bps
1
11
21
4
1
3
-
6
20
1
-
1
NA
83.3%
5.0%
NA
NA
NA
-
9
20
2
2
0.2
NA
22.2%
5.0%
NA
(50)%
NA
1.37%
0.46%
91 Bps
0.12%
125 Bps
-
3
0.10
-
1
0.03
NA
NA
NA
0.1
0.3
0.01
NA
NA
NA
Earnings Presentation
9
Half Yearly 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
H1-FY24
H1-FY23
409
342
67
412
361
51
16.38%
12.38%
1
20
41
7
4
3
0.73%
-
3
0.10
1
15
40
(3)
0
(3)
NA
1
(2)
(0.11)
Y-o-Y
(0.7)%
(5.3)%
31.4%
400 Bps
NA
33.3%
2.5%
NA
NA
NA
NA
NA
NA
NA
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
FY21
FY22
FY23
H1-FY24
472
438
34
599
545
54
822
708
114
409
342
67
7.20%
9.02%
13.87%
16.38%
5
39
62
(62)
(15)
(47)
NA
-
(47)
1
29
71
(45)
(7)
(38)
NA
0
(38)
1
33
79
3
3
(0)
NA
1
1
1
20
41
7
4
3
0.73%
-
3
(1.79)
(1.45)
(0.00)
0.10
Earnings Presentation
11
Balance Sheet
Equity and Liabilities (INR Mn)
FY22
FY23
H1-FY24
Assets (INR Mn)
FY22
FY23
H1-FY24
Share Capital
Reserves and Surplus
Total Equity
Non Current Liabilities
Long-term borrowings
Deferred tax liabilities (Net)
Long term provisions
Other long term liabilities
Sub Total Non Current Liabilities
Current Liabilities
Short-term borrowings
Trade payables
Other financial liabilities
Other current liabilities
Short-term provisions
Sub Total Current Liabilities
265
731
996
63
15
22
-
100
182
130
-
138
1
451
275
721
996
121
18
23
-
162
160
202
-
200
1
563
275
725
1,000
107
22
24
-
153
179
217
-
194
1
591
Non-current assets
Fixed assets
Property, Plant & Equipment
Other Intangible assets
Capital work-in-progress
Intangible assets under development
Other Financial Assets
Other non current assets
Sub Total Non Current Assets
Current assets
Inventories – For Goods
Inventories – For Spares/Tools
Trade receivables
Cash and cash equivalents & Bank Balance
Short-term loans and advances
Other current assets
Sub Total Current Assets
729
161
9
-
5
59
963
107
159
288
9
1
20
584
703
143
81
2
4
58
991
176
182
336
7
3
26
730
769
137
2
-
4
59
971
189
209
334
7
3
31
773
TOTAL EQUITY AND LIABILITIES
1,547
1,721
1,744
TOTAL ASSTES
1,547
1,721
1,744
Sintercom India Limited
Earnings Presentation
12
Key Financial Highlights
Revenue (INR Mn)
822
599
472
409
EBITDA (INR Mn) & EBITDA Margins (%)
114
54
9.02%
34 7.20%
67
13.87%
16.38%
FY21
FY22
FY23
H1-FY24
FY21
FY22
FY23
H1-FY24
Cash Conversion Cycle (Days)
Net Debt/Equity (x)
239
191
172
0.27
0.28
0.24
0.13
FY21
FY22
FY23
FY21
FY22
FY23
H1-FY23
Sintercom India Limited
Earnings Presentation
13
Capital Market Data
1 Year Stock Price Return (As on 30th September, 2023)
60% 50% 40% 30% 20% 10% 0% -10% -20%
Oct-22
Nov-22
Dec-22
Jan-23
Feb-23
Mar-23
Apr-23
May-23
Jun-23
Jul-23
Aug-23
Sep-23
Sintercom
Nifty Smallcap 250
Price Data (As on 30th September, 2023)
Shareholding Structure (As on 30th September, 2023)
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
10.0
129.5
139.5/80.1
3,562.6
27.5
10.8
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