Sandhar Technologies Limited has informed the Exchange about Investor Presentation
Ref: STL/REG-30/BSE/NSE/ 2021-22/82
Dated: 21st May, 2021
To, To, Department of Corporate Services Listing Department BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Dalal Street C-1, G Block, Bandra Kurla Complex Mumbai- 400001 Bandra, (E), Mumbai- 4000051
BSE Code: 541163, NSE: SANDHAR
Dear Sir/ Madam,
Sub: Intimation to Stock Exchange- Investor Presentation in connection with Audited Standalone & Consolidated Financial Results for the quarter and year ended on the 31st March,2021
Pursuant to Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith the copy of Investor Presentation in connection with Audited Standalone & Consolidated Financial Results for the quarter and year ended on the 31st March, 2021, the same is uploaded on the website of the Company www.sandhargroup.com
We request you to take the same on record.
Yours faithfully,
For Sandhar Technologies Limited
Komal Malik Company Secretary & Compliance Officer
Sandhar Technologies Limited
Corporate Office: 13, Sector-44, Gurugram-122 002, Haryana, India. Ph: 012-4518900
Registered Office: B-6/20, L.S.C., Safdarjung Enclave, New Delhi-110 029, India, Ph: +91-11-40511800
E-mail: enquiries@sandhar.in, website: www.sandhargroup.com; CIN-L74999DL1987PLC029553
Sandhar Components, Hosur Commencement from – FY’19
SANDHAR TECHNOLOGIES LIMITED INVESTOR’S PRESENTATION FY 20-21 Performance
Safe Harbour
This presentation and the accompanying slides (the “Presentation”), which have been prepared by Sandhar Technologies Ltd. (the “Company”), have been prepared 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 tire 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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Sandhar Technologies - Overview
Incorporated in 1987 by a first generation entrepreneur, supported by a qualified management team
Customer-centric component supplier, largely focused on vehicular safety and security systems with a pan-India presence and growing international footprint
80+ Indian and global automotive OEM customers with leading names like Honda, TVS, Tata Motors, Hero – shares relationship with Hero for 30+ years
27 product categories catering to various industry segments with leadership position in core products and focus on increasing customer spend per vehicle; Among largest supplier of Locks, Mirrors and OHV cabins in India and Al. spools in Europe
41 manufacturing facilities in India including JVs and subsidiaries, 1 in Spain, 1 in Mexico and 1 in Poland
Scalable business model with high technological capabilities through in-house R&D, global tie-ups and acquisitions
FY 21 consolidated revenue of INR 1874 Crs, EBITDA of INR 199 Crs and PAT of INR 58 Crs - India business drives most of it
Backed by two PE investors in last 12 years – Actis Group in FY06 and GTI Capital in FY12 and and got listed in 2018
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Sandhar Vs Industry – Q4 FY 21
Sandhar Revenue* Breakup
Segment wise Revenue Share (Rs. 1,864 Crs.)
Sandhar Vs Industry – FY’21
2 Wheeler 57% (Rs. 1,065 Crs.)
4 Wheeler 22% (Rs. 401Crs.)
OHV, Tractors 16% (Rs. 296 Crs.)
Others 5% (Rs. 102 Crs.)
Product wise Revenue* Share (Rs. 1,864 Crs.)
Locking Systems (Rs. 388 Crs.)
Vision Systems (Rs. 151 Crs.)
Sheet Metal (Rs. 232 Crs.)
Cabins (Rs. 271 Crs.)
ADC (Rs. 388 Crs.)
Assemblies (Rs. 181 Crs.)
*Revenue from operations excluding other income. All Rights Reserved@Sandhar 2021
21%
8%
Others 13% (Rs. 253 Crs.)
12 %
15 %
21%
10%
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56%57%33%75%99%26%26%35%43%NAOverall Growth2W4WCVOHVSandhar Rev. Gr %Industry Sales vol. Gr %-4%-6%-11%18%11%-14%-12%-9%-20%NAOverall Growth2W4WCVOHVSandhar Rev Gr %Industry Sales vol. Gr % Q4-FY’21 Financial Snapshot (fig. in Rs. Crs)
Consolidated
Standalone
GR Vs LY 56%
GR Vs Q3 8%
GR Vs LY 85%
GR Vs Q3 12%
GR Vs LY 62%
GR Vs Q3 8%
GR Vs LY 106%
GR Vs Q3 14%
GR Vs LY 247%
GR Vs Q3 25%
GR Vs LY 232%
GR Vs Q3 38%
GR Vs LY 299%
GR Vs Q3 23%
GR Vs LY 301%
GR Vs Q3 29%
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340 552 513 Q4 FY 20Q4 FY 21Q3 FY 21Revenue33 68 60 10%12%12%3%13%23% - 20 40 60 80Q4 FY 20Q4 FY 21Q3 FY 21EBITDA12 48 39 4%9%8%2%12%0102030405060Q4 FY 20Q4 FY 21Q3 FY 21EBT9 37 29 3%7%6%1%11%0510152025303540Q4 FY 20Q4 FY 21Q3 FY 21PAT413 645 597 Q4 FY 20Q4 FY 21Q3 FY 21Revenue44 81 72 11%13%12%3%13%23% - 20 40 60 80 100Q4 FY 20Q4 FY 21Q3 FY 21EBITDA15 51 40 4%8%7%2%12% - 10 20 30 40 50 60Q4 FY 20Q4 FY 21Q3 FY 21EBT12 40 29 3%6%5%1%11%051015202530354045Q4 FY 20Q4 FY 21Q3 FY 21PAT FY’21 Financial Snapshot (fig. in Rs. Crs)
Consolidated
Standalone
-4%
-4%
-3%
-4%
0.04%
2%
6%
7%
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1,650 1,595 FY 20FY 21Revenue16916310.3%10.2%0.00%20.00% 125 135 145 155 165 175FY 20FY 21EBITDA81 85 4.9%5.4%-1%9%5055606570758085FY 20FY 21EBT61 65 3.7%4.1%-1%9%4954596469FY 20FY 21PAT1,953 1,874 FY 20FY 21Revenue20619910.6%10.6%1%15%155165175185195205215FY 20FY 21EBITDA78 78 4.0%4.2%-3%7%6065707580FY 20FY 21EBT57 58 2.9%3.1%-3%7%45505560FY 20FY 21PAT Profit & Loss Statement – Consolidated (fig. in Rs. Crs)
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ParticularsQ4 FY 21Q4 FY 20YoY (%)Q3 FY 21QoQ (%)FY 21FY 20YoY (%)Total Revenue645.12413.4856%596.99 8%1,874.34 1,953.45 -4%ExpensesCost of materials 383.10224.2771%347.88 10%1,092.12 1,113.62 -2%Labour cost49.5538.3829%50.08 -1%160.17 160.07 0%Personnel expenses30.2729.971%33.98 -11%117.57 130.79 -10%Other expenses101.2877.0831%92.65 9%305.30 342.55 -11%Total expenses564.20369.7053%524.59 8%1,675.16 1,747.03 -4%EBITDA80.9243.7885%72.40 12%199.18 206.42 -4%EBITDA %12.54%10.59%12.13%10.63%10.57%Finance costs3.96 4.73 -16%4.53 -13%16.02 20.46 -22%Depreciation24.23 24.55 -1%24.25 0%93.95 98.41 -5%Profit before tax52.73 14.50 264%43.62 21%89.21 87.55 2%PBT %8.17%3.51%7.31%4.76%4.48%Losses from JV2.19 (0.07) 3.16 -30%11.20 9.50 18%Profit before tax after JV losses50.54 14.57 247%40.46 25%78.02 78.05 0%Tax Expenses10.29 2.46 318%11.28 -9%20.18 21.07 -4%Net profit 40.24 12.11 232%29.18 38%57.83 56.98 1%Net Profit %6.24%2.93%4.89%3.09%2.92%Other comprehensive income(2.34) 9.46 (0.59) (3.75) 9.63 Total comprehensive income37.91 21.57 76%28.59 33%54.09 66.61 -19%Comprehensive Income %5.88%5.22%4.79%2.89%3.41%Earnings Per Share (EPS)6.69 2.01 233%4.85 38%9.61 9.47 1% Profit & Loss Statement – Standalone (fig. in Rs. Crs)
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ParticularsQ4 FY 21Q4 FY 20YoY (%)Q3 FY 21QoQ (%)FY 21FY 20YoY (%)Total Revenue552.40340.1462.4%512.797.7%1,594.70 1,650.15 -3%ExpensesCost of materials 357.47205.1374.3%324.6210%1,018.56 1,035.53 -2%Labour cost39.8630.4031.1%40.90-3%130.66 129.89 1%Personnel expenses18.6620.85-10%23.63 -21%78.21 93.41 -16%Other expenses68.3950.6635%64.127%204.13 222.16 -8%Total expenses484.38307.04 58%453.28 7%1,431.56 1,480.99 -3%EBITDA68.02 33.10 106%59.52 14%163.14169.16 -4%EBITDA %12.31%9.73%11.61%10.23%10.25%Finance costs2.282.53-10%2.69-15%9.0912.63-28%Depreciation17.7918.54-4%17.780%68.5775.60-9%Profit before tax47.9512.02 299%39.05 23%85.4880.92 6%PBT %8.68%3.53%7.61%5.36%4.90%Tax Expenses10.45 2.66 293%10.08 4%20.25 20.00 1%Net profit 37.509.35 301%28.97 29%65.2360.92 7%Net Profit %6.79%2.75%5.65%4.09%3.69%Other comprehensive income(1.22) 7.89 (1.61) (4.00) 7.34 Total comprehensive income36.2817.25 110%27.35 33%61.2368.26 -10%Comprehensive Income %6.57%5.07%5.33%3.84%4.14%Earnings Per Share (EPS)6.23 1.55 302%4.81 29%10.84 10.12 7% Balance Sheet (fig in Rs. Crs)
1)
2)
Current Ratio: Consolidated: 1.12 vs 0.88 LY & Standalone: 1.21 vs.1.19 LY Credit Rating A1+ (ST) and AA- (LT) valid till Oct’21 (India Ratings)
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31-Mar-2131-Mar-2031-Mar-2131-Mar-20Application of FundsGross Fixed assets 1,241.13 1,155.16 906.85 852.56 Less: Acc. Depreciation 384.79 290.84 297.66 229.09 Net Fixed assets with CWIP 856.34 864.32 609.20 623.47 Non-current investments 56.87 45.02 114.39 91.24 Other non-current assets 18.93 15.59 16.65 13.39 Inventories 211.37 195.69 133.97 121.00 Trade receivables 357.46 191.88 312.86 160.84 Other Current Assets 94.98 53.39 59.54 32.17 Total Application of Funds 1,595.94 1,365.89 1,246.60 1,042.11 Sources of FundsShare capital 60.19 60.19 60.19 60.19 Reserves and surplus 744.18 702.26 746.55 697.36 Shareholders' Funds 804.37 762.45 806.74 757.55 Minority Interest 3.69 3.63 - - Other Non-current liabilities 97.36 91.67 22.12 19.83 Long Term Secured Loans 96.28 9.21 0.05 0.24 Short Term Loans 124.28 191.56 43.24 39.02 Current liabilities & Provisions 469.96 307.37 374.44 225.47 Total Sources of Funds 1,595.94 1,365.89 1,246.60 1,042.11 ParticularsConsolidatedStandalone66 63 Mar'20Mar'21ConsoldiatedInventory Holding Period (Days)42 45 Mar'20Mar'21ConsoldiatedReceivables collection period (Days)80 83 Mar'20Mar'21ConsoldiatedCreditors holding period (Days)201 221 Mar'20Mar'21ConsoldiatedLoans (Rs. Crs.)43 43 Mar'20Mar'21StandaloneInventory Holding Period (Days)39 43 Mar'20Mar'21StandaloneLoans (Rs. Crs.)68 75 Mar'20Mar'21StandaloneCreditors holding period (Days)44 46 Mar'20Mar'21StandaloneReceivables collection period (Days) Cash Flow Statement (fig in Rs. Crs)
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FY'21FY'20FY'21FY'20Cash Flows from Operating ActivitiesProfit before tax 78.02 78.05 85.48 80.92 Depreciation and amortization expense93.95 98.41 68.57 75.60 Other adjustments23.69 29.29 4.92 10.76 Operatingprofitbeforeworkingcapitalchanges195.65 205.75 158.97 167.29 Movements in working capital:(52.40) 58.58 (42.77) 50.27 Cash generated from operations143.25 264.33 116.20 217.56 Taxes Paid19.53 25.32 19.38 24.73 Netcashinflowfromoperatingactivities ( A )123.72 239.01 96.82 192.82 Cash Flows from Investing ActivitiesCapital Expenditure(76.97) (87.52) (55.87) (57.82) Purchase/Investmentsinjointventures& other Corporates(26.34) (17.58) (26.46) (22.98) Proceeds from Sale of investments5.15 - 3.62 - Other Reciepts 0.76 4.17 4.03 3.54 Netcashusedininvestingactivities ( B )(97.40) (100.93) (74.69) (77.26) Cash Flows from Financing ActivitiesBorrowings/Repayment19.00 (73.79) 4.03 (74.92) Payment of lease liabilities(17.38) (11.79) (7.41) (7.20) Dividend Paid(12.10) (18.29) (12.04) (18.04) Interest paid(15.76) (20.53) (8.83) (13.00) Netcashflowusedinfinancingactivities ( C )(26.23) (124.39) (24.25) (113.15) Foreign currency translation gain(0.82) (10.68) - - Netincrease/(decrease)incashand cash equivalents (A+B+C)0.09 13.68 (2.12) 2.42 Opening Cash Balance6.70 3.70 3.00 0.58 Cashandequivalentsattheendoftheyear5.97 6.70 0.87 3.00 ParticularsStandaloneConsolidated WOS Performance (fig in Rs. Crs)
11%
5%
54%
JV* Performance (fig in Rs. Crs)
15%
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20%
18%
*Considered 50%
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315.35279.98FY 20FY 21Revenue38.236.4EBITDA8.53.9FY 20FY 21EBT52.82 60.88 RevenueFY'20FY'21(6.82)(8.21)EBITDAFY'20FY'21(9.50)(11.20)PATFY'20FY'21 Sandhar Technologies Limited CIN: L74999DL1987PLC029553 Email: investors@sandhar.in
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