Minda Industries Limited has informed the Exchange regarding Investor Presentation
Minda Industries Ltd Investor Presentation – August 2019
Safe Harbor
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This presentation and the accompanying slides (the “Presentation”), has been prepared by Minda Industries Limited (the “Company”), solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with any contract or binding commitment whatsoever. No offering of securities of the Company will be made except by means of a statutory offering document containing detailed information about the Company.
This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but 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.
Certain matters discussed in this Presentation may contain statements regarding the Company’s market opportunity and business prospects that are individually and collectively forward-looking statements. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and assumptions that are difficult to predict. These risks and uncertainties include, but are not limited to, the performance of the Indian economy and of the economies of various international markets, the performance of the auto ancilliary industry in India and world-wide, competition, the company’s ability to successfully implement its strategy, the Company’s future levels of growth and expansion, technological implementation, changes and advancements, changes in revenue, income or cash flows, the Company’s market preferences and its exposure to market risks, as well as other risks. The Company’s actual results, levels of activity, performance or achievements could differ materially and adversely from results expressed in or implied by this Presentation. The Company assumes no obligation to update any forward-looking information contained in this Presentation. Any forward-looking statements and projections made by third parties included in this Presentation are not adopted by the Company and the Company is not responsible for such third party statements and projections.
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Quarterly Update Presentation
Performance Highlights for the Quarter
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Favourable Factors
Un-Favourable Factors
• Robust sales despite industry wide Volume cuts
• Volumes impacted due to weak demand across
• Cost Management and Austerity measures kept
•
overheads in check. EBITDA % maintained despite margin pressure on business.
• New Products have started contributing to the top
line
• Capacities in Place for swift ramp up and future
growth
segments
•
Expansions in Gujarat led higher interest and depreciation costs
Business Review
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Switches
01
Secured Business from new customer
4W in line with OE, improved SOB in 2W
Lighting
02
Better volumes in some of new launches
Growth higher due to high LED content
Acoustics
03
Domestic business upbeat despite volume cuts
Clarton Horn ( Mexico) under stabilzation
Light Metal Technology
04
Improved customer mix
Better operational efficiency, favourable movement of commodity price.
Others
05
iSYS and Katolec have contributed to top line growth.
RPAS and front air bags mandatory in 4W (PV) segment with effect from July 19
Consolidated Financial Highlights
Revenue (Rs. Cr)
+1%
1,430
1,440
Q1 FY19
Q1 FY20
PAT* (Rs. Cr)
-24%
70
53
Q1 FY19
Q1 FY20
* PAT = PAT ( MIL Share)
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EBITDA (Rs. Cr)
+1%
170
108
49
13 Q1 FY19
172
77
71
24
Q1 FY20
Margin (%)
Interest
Depreciation
PBT
11.89%
11.96%
4.90%
Q1 FY19
3.71%
Q1 FY20
EBITDA
PAT
Revenue Bridge – Q1 FY20
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29
(13)
(7)
1,431
42
(43)
1,440
Q1 FY19
Lighting
Others
Acoustics
Light Metal Technology
Switches
Q1 FY20
Business wise Revenue Mix
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Revenue - Q1FY19
Others 10%
Revenue - Q1FY20
Others 13%
LMT 16%
Acoustics 13%
Switches 40%
Switches 37%
LMT 14%
Acoustics 12%
Lighting 21%
Lighting 24%
Business wise EBITDA Mix
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EBITDA - Q1 FY19
EBITDA - Q1 FY20
Others 14%
Others 12%
Switches 36%
Switches 32%
LMT 29%
LMT 32%
Lighting 12%
Acoustics 9%
Acoustics 6%
Lighting 18%
Revenue Mix – Q1 FY20
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Geography-wise Breakup
Channel-wise Breakup
Segment -wise Breakup
India
International
OEM
Replacement
2Wheeler
4Wheeler
17%
8%
47%
53%
83%
92%
Diversification across Categories and Geographies
Consolidated Profit & Loss Statement
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Particulars (Rs. Cr) Revenue from Operations (Net of Excise) Raw Material Employee Cost Other Expenses EBITDA EBITDA Margin Other Income Depreciation EBIT EBIT Margin Finance Cost Profit before Share of Profit/Loss of JVs and Tax PBT Margin Exceptional Item Tax Profit before Share of Profit/Loss of JVs Share of Profit/Loss of JVs Net profit/(loss) after share of profit/(loss) of associates / joint ventures (A) PAT Margin %
PAT attributable to:
- Owners of MIL - Non Controlling Interests Other Comprehensive Income Total Comprehensive Income for MIL TCI Margin % Total Comprehensive Income for Non Controlling Interests
Q1 FY20 1,439.75 872.16 215.13 180.26 172.2 11.96% 6.92 71.2 107.92 7.50% 23.81 84.11 5.84%
27.68 56.43 5.9 62.33 4.33%
53.48 8.86 -0.47 52.97 3.68% 8.9
Q1 FY19 1,429.82 882.52 188.57 188.68 170.05 11.89% 6.50 49.28 127.27 8.90% 13.16 114.11 7.98%
33.61 80.50 4.10 84.60 5.92%
70.05 14.55 2.51 72.52 5.07% 14.59
YoY % 1%
1% 7bps
-15% (141)bps
-26% (214)bps
-30%
-26% (159)bps
-24%
-27% (139)bps
Q4 FY19 1,486.46 898.97 202.52 199.6 185.37 12.47% 13.07 68.18 130.26 8.76% 20.43 109.83 7.39%
33.39 76.44 8.34 84.78 5.70%
73.5 11.28 -4.1 69.47 4.67% 11.21
QoQ % -3%
-7% (51) bps
-17% (127)bps
-23% (155)bps
-26%
-26% (137)bps
-27%
-24% (99)bps
FY19 5,908.09 3,622.48 791.29 769.14 725.18 12.27% 27.03 234.38 517.83 8.76% 63.15 454.68 7.70%
134.07 320.61 18.87 339.48 5.75%
285.62 53.86 -0.68 284.91 4.82% 53.89
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About Us
Vision
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Leadership Team
BOARD OF DIRECTORS
TOP MANAGEMENT TEAM
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Mr. Nirmal K Minda Chairman & Managing Director
Mr. Anand K Minda
Mr. Sunil Bohra Group CFO
Mr. Anand K Minda CEO , Aftermarket Domain
Mr. Rajiv Kapoor Group HR Head
Mr. Satish Sekhri
Mr. K K Jalan
Mr. J.K. Menon CEO , Electrical & Electronics Domain
Mr. Pradeep Tiwari CEO , Body & Structure Domain
Mr. Ravi Mehra CEO , Interior, Controls & Safety Domain
Mr. Kundan K Jha CEO, Light Metal Technology Domain
Ms. Paridhi Minda
Mrs. Pravin Tripathi
Note: The above represents the Board of the flagship company, Minda Industries Limited
Mr. Naveesh Garg Group Chief Strategy Officer
Mr. Amit Jain CEO , Adv. Electronics Domain & Group Chief Technology Officer
Mr. Rajeev Gandotra Group Chief Marketing Officer
Mr. Amit Gupta President, Group Business Excellence
Strategy for Growth
Regulatory Norms BS-VI expected implementation by 2020 will benefit UNO MINDA as it ready with products which are likely to see strong demand 1. Sensors (BS VI) and Engine related
Sensors in association with Sensata, US
2. Advance Filtration and Canisters 3. On Board Diagnostics (OBD) 4. Seat Belts
Enhanced Safety NCAP and Crash Test Norms are ensuring a swift migration to a safe car. 1. Air Bags & Seat belts 2. Reverse parking Sensors 3. Combi Braking Systems
Regulatory, Emission Norms
Premiumization and Kit Value
Enhanced safety Norms
Electronification and Electric Vehicles (EVs)
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Premiumization Indian Automobile market is likely to undergo premiumization of vehicles and UNO MINDA is Poised to strongly benefit. 1. LEDs replacing convention lamps 2. Advanced Driving Assistance System
Infotainment System
(ADAS) 3. Alloy Wheels 4. 5. Telematics 6. Wireless Chargers 7. AMT
Electronification & EVs UNO MINDA has set up CREAT for Advanced research engineering and advanced technologies focused to capture 1. Cockpit Electronics 2. Body Exterior & advanced
Lighting Air Bags & Seat belts
3. Controllers and Sensors 4. EV technologies
Mobility Change Drivers – Global and India
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GLOBAL
INDIA
CONNECTED
AUTONOMOUS
CONNECTED
COMFORT & CONVINIENCE
SAFETY & SECURITY
SHARED MOBILITY
ELECTRIC
SHARED MOBILITY
REGULATIONS
GREEN TECHNOLOGY
Change Drivers - India
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CONNECTED
COMFORT & CONVINIENCE
SAFETY & SECURITY
SHARED MOBILITY
REGULATIONS
GREEN TECHNOLOGY
Fleet Management, Apps, UBI
Larger Displays, Infotainment
Collision Warning & Avoidance
Car Sharing, Bike Sharing, On Demand Ride
BS-6 : Emission Standards- Bharat Stage VI ( BS-6)
Hybrid Electric Vehicle
Telematics, FOTA, eCall
Fully Automatic Temprature Control, TPMS, HUD
Emergency Braking, Lane Keeping, Blindspot
Cost & ownership Model
AIS 140, ITS
Battery Electric Vehicle
V2X, V2I, Gateway, Smart Home
Around View Monitor, Ultrasonic Sensor
Airbag, ESP
Durable components & faster replacement
Pedestrian Protection, Collision Protection
Charing Infrastructure
ABS
Future Technology Areas for UNOMINDA
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Body, Exterior and Safety Technologies
Cockpit Electronics and Advanced Technologies
Controllers
Lighting
Advanced Driver Assist
Infotainment & Connectivity
Telematics & IOT
Electric Vehicle Technologies
Distributed & Integrated Body Controllers
Multi Function Controllers
Wireless Chargers
Digital Lamps
Parking Systems
Android Infotainment
Smart City Solutions
Adaptive Front Lighting
Collision Avoidance
Sequential Lighting
Around View
Ambient Lighting
Aug reality HUD
Deep Thinking & Interactive Voice
Rear Seat Entertainment
Smart city Brake Support System
3G/4G TCU
Flash Over the Air
Smart Antenna
Data Analytics
Power Management Controllers
Brushless Motor Controllers
DC DC Converters
On Board Chargers
Battery Packs
Group Technical Centre Overview
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•
• • • •
First Flagship Technical Center of UNOMINDA Group Located in Pune, Phase II in Gurgaon 170+ Engineers Center of Competency for Hardware & Software Electronics Lab functional since Oct 2018
CREAT: Manpower Mix
Software 44%
Mechanical 11%
Hardware 12%
Hardware, Software & Test
Center of Excellence
• Hardware & Software for existing
products
• New Products end to end
Material Sciences, Optics, Surface Coating, EMI/EMC
Product Assurance 3%
Tech Sales / NPC 2%
Adminstrati…
Design 16%
Captive & New Products
Captive
Pioneer in localization: Through JVs & Associations
We have partnered with global technology leaders in the respective product segments
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Panel & Control Switches Seatbelts Gear Shifters
Steering Wheels with Air Bags Body Sealing Fuel Caps Hoses
Blow Molding Components
Speakers
Acquisition Embedded Systems
Acquisition 2W Light
TLA for Sensors
1995
2010
2011
2012
2013
2016
2017
2018
2019
Raw Material Trading
Acquisition Horns
Air Filters, Canisters
Car Infotainment Systems
Alloy Wheels
Air Brakes
CNG & LPG Kits
TLA for Automotive Lamps
Printed Circuit Boards(PCB) Box Build Assemblies
Acquisition Telematics Hardware
Driving Assistance Systems & Products (DAPS)
Acquisition Seating Systems ( under Approval)
Shareholding Pattern
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Corp Bodies / Others 5.2%
Corp Bodies / Others 5.2%
Retail 7.9%
Insitutions 16.1%
Retail 8.5%
Institutions 15.5%
Mar ‘19
June ‘19
Promoters 70.8%
Promoters 70.8%
Strong Balance Sheet:
Building Shareholder Value year on year…
Sales
Sales Growth
39%
32%
32%
3,386
FY17
4,471
FY18
5,908
FY19
Growth without stressing the Balance Sheet…
ROCE
Adjusted ROCE*
20%
19%
20%
19%
21%
19%
FY17
FY18
FY19
Net Worth
ROE
Net Fixed Assets
FATR
21.5%
20.9%
1,059
FY17
1,392
FY18
18.5%
1,704
FY19
3.97
993
FY17
3.66
1,450
FY18
3.58
1,846
FY19
Note: Consolidated Data, * Adjusted ROCE= capital employed less non current Investments in JV and Associates
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EBIDTA
EBIDTA %
12%
12%
534
FY18
725
FY19
Net debt to Equity
0.50
0.30
11%
374
FY17
0.12
FY17
FY18
FY19
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Business Overview
Advent of EVs: Our Hedged Product Portfolio
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S. No
Product Lines
Company Name
Approximate timelines
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17
18
19
20
21 22 23
24
25 26
Engine & Transmission Parts
Safety Parts
Body Parts
Comfort & Convenience Parts
Others
Alternate Fuel Systems Air Filtration Systems Canisters Brake Hoses Fuel Hoses Alloy Wheels Cameras EA Pad Steering Wheel with Airbags Fuel Caps Lamps Air Ducts & Washer Bottle Spoiler Body Sealings 4W Switches & HVAC Cigar Lighters & Chargers Wheel Covers Infotainment Systems (CD Tuners, Display Audio & Audio Video Navigations) Speakers Reverse Parking Aid Systems & Advanced Driver Assistance Products and Systems Sensors Actuators Controllers End to End Telematics & Connected Car Solutions Horns Batteries-Lead Acid
METL Roki Minda Roki Minda Minda TG Minda TG Minda Kosei MFTL, Minda TTE MKL TGMN MIL MIL-Ltg Div MKL MKL TGMN MRPL MRPL MRPL
Minda D Ten
Minda Onkyo
Minda TTE
MIL-SAC Div MIL-SAC Div MIL-SAC Div
MIL Controllers
MIL + CH MIL-Battery Div
Revenue March 19 41
400
92 92 600 16 18 496 32 465 158 158 496 801 801 801
98 21
16
131 131 131
25
708 84
BS VI Apr-20 D D
D
Technologies PEV 2022-25 X D D D D
D D
D D
BEV 2025-2030 X X X D X X D D
D D
D D
Legend
To continue as it is D To continue with changes X Obsolete
Positively Impacted
Group product portfolio – 2 Wheeler
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Horns
Handle Bar Assemblies
Sensors
Filter/ Canisters
Battery
Noise Suppresser Cap
Equalizer Assembly
Die Casting Components
Brake Hoses
Combined Breaking system
Lamps
Switches
2 W Alloy Wheel
Kit Value* – 2 Wheelers
5,209
5,162
5,766
4,572
6,801
6,966
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4,664
4,308
3,580
2,750
2018 2019
2018 2019
2018 2019
2018 2019
Economy
Executive
Premium
Scooter
2018 2019
Moped
Up to 110 CC
110 -135 CC
> 135 CC
All scooters
All Mopeds
*Contribution from Group Companies which are not yet consolidated is not included in the Kit Value
Group product portfolio – 4 Wheeler
Air Duct
PWS
Controllers
Auto HVAC
Spoiler
Fuel cap
CNG Kit
RPAS
Alloy Wheel
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Headlamp levelling motor
Horns
Speakers
Batteries
Hoses
Steering Wheels with Air bags
Electronic accelerator pedal module
Air Filter
LED lamps
Kit Value* – 4 Wheeler PVs & Tractor
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75,879
80,934
68,801
63,683
Values in INR
43,596
44,064
50,452
32,906
25,924
19,893
2018 2019
2018 2019
2018 2019
2018 2019
2018 2019
2018 2019
A
B
C
D
E & MUV
Tractor
3,378
3,450
Up to Rs. 2.2 Lacs
Rs. 2.21 - 4.5 Lacs
Rs. 4.5 - 8.3 Lacs
Rs.8.4 -16 Lacs
>Rs 16 lacs
Off Road
*Contribution from Group Companies which are not yet consolidated is not included in the Kit Value *Potential is calculated on basis that all products manufactured by the group is supplied in the vehicle.
Customer led and Customer Oriented: Customer Mix ( FY 2019)
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Switching Systems
Lighting Systems
Acoustics Systems
4W
2W
MSIL 42%
Others 40%
TML 6%
M&M 6%
TKML 10%
HMSI 9%
Yamaha 3%
Royal Enfield 3%
Others 32%
TGMI 4%
Bajaj Auto 34%
TVS 11%
Others 29%
Tata Motors 6%
Renault 9%
Others 52%
MSIL 32%
M&M 12%
Maximize Customer Value
optimum product mix to maximize content per vehicle
Hedged
across segments
Alloy Wheels (MKA)
M&M 22%
WABCO India 18%
strengthening our focus on customer relationships
MSIL 78%
Note: Consolidated Data
TVS Motors 27%
Toyota 12%
Die Casting (MJ Casting)
Others 20%
Mahindra 3%
Honda 9%
Suzuki Motors 7%
HMSI 55%
BMW 13%
VW 13%
HYUNDAI 9%
DAIMLER 8%
AUDI 5%
Blow Molding
MSIL 23%
TKML 24%
Switching Systems
Indian’s Largest Manufacturer
• World leader in 2W Switches by Volume. • 2W switches Market Share in India ~65% • • Exports to USA, France, Italy, Austria and others
Independent in-house R&D
contributing ~6% to Switch sales in FY19 • Minda Rika ( 4W SW):Market share India 55%
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2600
2100
1600
1100
600
9.8%
1,211
FY17
Rs. In Crs
11.9%
12.6%
1,475
FY18
2,237
FY19
13.0%
11.0%
9.0%
7.0%
End User Segment
Revenue
EBIDTA Margin %
• 2/3 Wheeler & Off-road • 4 Wheeler (Minda Rika) Key Customers: 2W /3W/OR- HMSI, Bajaj, HMCL, TVS , REML & Yamaha 4W – MSIL, TKML, M&M, TML & HCIL
Manufacturing Facilities
ASEAN(2W): • Indonesia • Vietnam
2W switch: • Manesar • Pune • Pantnagar • Hosur • Aurangabad
4W switch: • Manesar • Pune • Chennai • Gujarat
Note: Consolidated Data
2W Switches
Handle Bar Assembly
Off road Switches
4W Switches
HVAC Panels
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11.0%
9.0%
7.0%
5.0%
3.0%
1.0%
1500
1000
500
0
Rs. In Crs. 9.8%
10.2%
9.1%
1,024
FY17 ^
1,159
FY18
1,293
FY19
Revenue
EBIDTA Margin %
^ Consolidation of Rinder
Lighting Systems
Leading automotive lighting Systems
• Strong R&D capabilities with Design centre in Taiwan and Technical Arrangement with Korean Company • Exports to Italy, Indonesia, France, Japan and others
Contributing ~9% to Lighting Sales in FY19 • R&D Base for 2W in Spain and 4 W in India
End Use Segment
• 2/3 Wheeler, • 4Wheeler • Off-road Key Customers: 4W: Maruti Suzuki, Bajaj, TVS , REML , Renault 2W: Bajaj, RE, Triumph, KTM
Manufacturing Facilities
• • • •
Pantnagar Sonepat Haridwar Chennai
2 W Facilities (India): • Chakan & Pimpriin Pune • Bahadurgargh 2 W Facilities (Overseas): • •
Columbia Design Centre in Spain
Note: Consolidated Data Note: Consolidated Data
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800
700
600
500
400
300
9.7%
659
FY17
Rs. In Crs
8.1%
671
FY18
9.4%
717
FY19
11.0%
10.0%
9.0%
8.0%
7.0%
6.0%
Revenue
EBIDTA Margin %
Acoustic Systems
One of India’s Largest Players in Horns
• With 47% market share in India • Strong in-house R&D capabilities • Clarton Horn, a wholly owned subsidiary of MIL is
technology leader in Horns and No 2 in market share globally.
End Use Segment
• 2/3 Wheeler, • 4Wheeler, • Off-road and Commercial Vehicles
Key Customers: Domestic – MSIL, Bajaj, TVS, Royal Enfield, Yamaha, M&M International – Daimler, Hyundai, Nissan, Mobis, Renault
Manufacturing Facilities
MIL Facilities • Manesar • •
Pantnagar Indonesia
Clarton Horns Facilities: • Spain • Morocco • Mexico
Note: Consolidated Data Note: Consolidated Data
Light Metal Technology
Products
Alloy Wheel • Market Leader in PV segment with 45% market share (
installation ) in India
• Kosei - Strong Technology Leader as JV partner • Moulding and Tooling Capability for high end wheels Aluminium Die Casting • Manufacturer of performance and non performance parts
End Use Segment
Key Customers: • Alloy Wheel MSIL, Mahindra, Toyota, Renault Nissan and Honda • Aluminium Die Casting HSMI, TVS, Wabco
Capacity • Alloy Wheel 2.7 Mn Wheels p.a. • Aluminium Die Casting 1.32 lacs ton p.a.
1000
800
600
400
200
0
21.5%
395
FY17
Revenue* Rs. In Crs
23.2%
23.4%
585
FY18
908
FY19
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24.5%
23.5%
22.5%
21.5%
20.5%
19.5%
18.5%
Alloy Wheels& Die Casting
EBITDA Margins
Manufacturing Facilities
Alloy Wheel • Bawal • Gujarat • Chennai ( JV Plant )
Aluminium Die Casting • Hosur • Bawal
Alloy Wheels
Aluminium Die casting
Note: Consolidated Data
Other Products
Products
Other products • Blow Molding • Speakers & Infotainment • Fuel Caps • Air Filtration System • Hoses • Batteries
• Sensors and Controllers
End Use Segment
• 2Wheelers, 4Wheelers, Commercial Vehicle
Key Customers: MSIL, HMSI, TVS, Mahindra, Toyota & Renault Nissan
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Revenue* Rs. In Crs
800
600
400
200
0
8%
409
114
FY17
9%
532
126
FY18
10%
609
145
FY19
12.0%
10.0%
8.0%
6.0%
4.0%
2.0%
0.0%
Blow Moulding
Others
EBITDA Margins
Manufacturing Facilities
• Bawal – Filters, Hoses, Blow molding • Bangalore -Blow Molding, Filters • Manesar - Fuel Caps, • Chennai & Gujarat –Filters • Pantnagar( Minda Storage Battery)
Speaker
Hoses
Air Bags
Fuel Cap
Controllers
Blow Molding
Battery
Note: Consolidated Data
MDSL : Strong Presence in Replacement Market
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Jammu and Kashmir: 8
Over 50,000 Retail Points
Product(Rs.Crs)
FY19 After Market Sales
% of total After Market Sales
Punjab: 26
Haryana: 41
Rajasthan: 51
Himachal Pradesh: 24
Uttarakhand: 6
Delhi: 33
UP: 62
Bihar: 55
Assam: 10
Gujarat: 48
MP: 45
Jharkhand: 20
Chhattisgarh: 14
West Bengal: 51
Orissa: 24
Maharashtra: 86
Goa: 1
Karnataka: 45
Telangana: 14
Andhra Pradesh: 25
Kerala: 23
Tamil Nadu: 52
Maps not to scale. All data, information, and maps are provided "as is" without warranty or any representation of accuracy, timeliness or completeness
Switches
Lighting
Horns
Others
179
181
81
132
31%
32%
14%
23%
Revenue (Rs.Crs)
438
453
372
573
504
FY15
FY16
FY17
FY18
FY19
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Historical Financials
Consolidated Profit & Loss Statement
37/6 37 / 46 37/43
Particulars (Rs. Cr) FY19 FY18YoY %Revenue from Operations (Net of Excise)5,908.094,470.5632%Raw Material3,622.482,763.18Employee Cost 791.29586.8Other Expenses767.35586.76EBITDA726.97533.8236%EBITDA Margin 12.30%11.94%45bpsOther Income25.2433.35Depreciation234.38164.85EBIT517.83402.3229%EBIT Margin 8.76%9.00%8bpsFinance Cost63.1535.09Profit before Share of Profit/Loss of JVs and Tax454.68367.2324%PBT Margin7.70%8.21%-20bpsExceptional Item38.24Tax134.0797.69Profit before Share of Profit/Loss of JVs320.61307.784%Share of Profit/Loss of JVs18.8723.08Net profit/(loss) after share of profit/(loss) of associates / joint ventures (A)339.48330.863%PAT Margin %5.75%7.40%-40bpsPAT attributable to:- Owners of MIL285.62310.19-8%- Non Controlling Interests53.8620.67Other Comprehensive Income-0.685.31Total Comprehensive Income for MIL284.91314.99-10%TCI Margin %4.82%7.05%-73bpsTotal Comprehensive Income for Non Controlling Interests 53.8921.18 Consolidated Balance Sheet
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ASSETS31st March 201931st March 20181. Non-current assetsProperty, Plant and Equipment1,629.401,199.39Capital work-in-progress131.52192.11Intangible Assets66.8439.32Intangible Assets Under Development18.6118.68Goodwill on Consolidation164.92111.79Financial Assets(i) Investments355.58155.23(ii) Loans21.2114.49(iii) Others9.6616.79Deferred tax assets (net)018.61Other Tax Assets33.0531.18Other Non-current Assets67.140.43Sub-total - Non-Current Assets2,497.891,838.032. Current AssetsInventories560.97417.52Financial Assets(i) Trade receivables899.22789.73(ii) Cash and cash equivalents92.77125.56(iii) Bank balance other than those included in cash and cash equivalents17.2933.91(iv) Loans2.011.59(v) Others Current Financial Assets2218.04Other current assets138.48140.74Sub-total - Current Assets1,732.741,527.08TOTAL - ASSETS4,230.633,365.11Liabilities31st March 201931st March 2018EQUITY AND LIABILITIESEquityEquity share capital52.4417.41Other Equity1651.721,374.28Equity attributable to owners of the Company1704.161,391.69Non-Controlling Interest266.71211.01Total Equity1970.871,602.70LIABILITIES1. Non-current liabilitiesFinancial Liabilities(i) Borrowings606.34240.04(ii) Other financial liabilities75.5851.46Provisions99.64103.78Deferred tax liability0.62Total- Non current liabilities782.18395.282. Current LiabilitiesFinancial Liabilities(i) Borrowings349.15302.81(ii) Trade payables(a) Total outstanding dues of micro & small enterprises64.616.08(b) Total outstanding dues of crditors other than micro & small enterprises733.21792.33(iii) Other financial liabilities231.15155.41Other current liabilities77.991.84Provisions21.5614.83Current tax liabilities (net)3.83Total- Current liabilities1477.581,367.13TOTAL Equity and Liabilities4,230.633,365.11 Improving Dividend Profile
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10.4%
165
FY17
10.9%
12.7%
256
FY18
286
FY19
PAT
Dividend Payout Ratio
*
* Dividend payout ratio after considering dividend distribution tax
Awards & Recognitions
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Minda Industries Ltd won the “Most Promising Company of the Year”at the Indian Business Leader Awards
Mr. N K Minda conferred with EY Entrepreneur of the Year for the year 2018 ( Manufacturing Category)
Awards & Recognitions
CERTIFICATIONS
“Comprehensive Excellence” – UNO MINDA “Overall Performance” – MKL & M DTEN “Quality Excellence” MTG & Roki Minda “VA- VE”- MTG
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RECENT AWARDS: 2018-19
“Special Support Award” MIL – Switch Division
“Delivery Management Award” M J Casting Ltd. “ Best QCDDM Performance” Roki Minda Co. Pvt. Ltd.
“Supplier Business Capability Award” MIL – Lighting Division
“National IP Award” in category Top Indian Company for Designs Minda Industries Ltd.
“Quality Excellence” MIL – Lighting Award
“Exceptional Support Quality” MIL – Lighting Award
Confidential
MIL Holding Structure
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Contact Us
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For further information, please contact:
Company :
Investor Relations Advisors :
Minda Industries Ltd. CIN : L74899DL1992PLC050333 Mr. Tripurari Kumar GM Finance tripurarik@mindagroup.com
Strategic Growth Advisors Pvt. Ltd. CIN : U74140MH2010PTC204285 Mr. Jigar Kavaiya +91 99206 02034 jigar.kavaiya@sgapl.net
www.unominda.com
www.sgapl.net