Sandhar Technologies Limited has informed the Exchange about Investor Presentation
Ref: STL I REG-30/ BSEI NSEI 2021-2022/91
Dated: 12th November, 2021
To, Department of Corporate Services, BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai -400 001
SANDHAR
Growth. Motivation. Better life
To, Listing Department, National Stock Exchange of India Limited C-1, G-Block, Bandra-Kurla Complex Bandra, (E), Mumbai - 400 051
BS.E Code: 541163; NSE: SANUHAR
Suh: /11ti111atio11 to Stock Exclta11ge- /11ve!.tor Presentatiou i11 co1111ection with Un-Audited Standalone & Consolidated Financial Results for tlte q11arte1· and half vea,• e11ded 3(/1
' Septemher,2021
Dear Sir/Madam,
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 Un-Audited Standalone & Consolidated Financial Results for the quarter and half year ended 30th September, 2021, the same is uploaded on the website of the Company www.sandhargroup.com
Kindly take the same on record.
Thanking you,
Yours Faithfully,
DHAR ECHNO'LOGJ.ES LIMITED
Ko Company Secretary & Compliance Officer
Encl.: As above
Sandhar Technologies Limited
Corporate Office: 13, Sector-44, Gurugram-122 002, Haryana, India. Ph: + 91 12-4518900 Registered Office: B-6/20, L.S.C., Safdarjung Enclave, New Delhi-110 029, India, Ph: +91-11-40511800 E-mail: engujrles@sandhar.in, website: www.sandhargroup.com: CIN-L74999DL1987PLC029553
INVESTOR’S PRESENTATION Q2 & H1 FY 21-22 Performance
Mexico Plant
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.
All Rights Reserved@Sandhar 2021
2
Key Highlights
Sandhar Technologies Limited has put up a strong performance in H1 FY 22, with half year revenues at Rs. 1032 Crs. which has increased by 63% and PAT increased by 301% from H1 FY 21.
Industry Updates
Industry registered a growth of 30% in H1 FY 22 whereas Sandhar has achieved a growth of 64% from H1 FY 21.
Sandhar Rev Gr %
Industry Sales vol. Gr %
131%
117%
64%
30%
50%
23%
74%
62%
74%
30%
Overall Growth
2W
4W
CV
OHV
Financials (H1 FY 22 vs H1 FY 21)
Consolidated • Revenue of Rs. 1032 Crs., up by 63%. • EBITDA of Rs. 95 Crs., up by 107%. • Cash Profit of Rs. 75 Crs., up by 106%. • Cash EPS is Rs. 12.53*
Standalone • Revenue of Rs. 857 Crs., up by 62%. • EBITDA of Rs. 72 Crs., up by 103%. • Cash Profit of Rs. 60 Crs., up by 90%. • Cash EPS is Rs. 10.03*
* EPS not annualized
All Rights Reserved@Sandhar 2021
3
Key Highlights
Sandhar Technologies Limited has put up a strong performance in Q2 FY 22, with quarter revenues at Rs. 620 Crs. which has increased by 51% and PAT increased by 904% from Q1 FY 22.
Industry Updates
Industry registered a de-growth of 1% in Q2 FY 22 whereas Sandhar has achieved a growth of 24% from Q2 FY 21.
Financials (Q2 FY 22 vs Q1 FY 22)
Consolidated • Revenue of Rs. 620 Crs., up by 51%. • EBITDA of Rs. 62 Crs., up by 90%. • Cash Profit of Rs. 48 Crs., up by 74%. • Cash EPS is Rs. 7.96*
Standalone • Revenue of Rs. 538 Crs., up by 69%. • EBITDA of Rs. 52 Crs., up by 147%. • Cash Profit of Rs. 42 Crs., up by 127%. • Cash EPS is Rs. 6.96*
* EPS not annualized
All Rights Reserved@Sandhar 2021
4
24%17%16%64%70%-1%-4%7%32%3%Overall Growth2W4WCVOHVSandhar Rev. Gr %Industry Sales vol. Gr % Our Footprint
43 State of-art-the-manufacturing facilities Technical collaboration with South Korea, Japan & Taiwan
All Rights Reserved@Sandhar 2021
5
Revenue Model
Key Customers
Segment wise Revenue Share* (Rs. 1028 Crs.)
2 W
PV
CV
OHV
3W
2 Wheelers 55%
4 Wheelers 24%
OHV, Tractors 16%
Others 5%
Product wise Revenue Share*
ADC 23%
Locking System 19%
Sheet Metal 14%
Cabins 13%
Assemblies 9%
Vision System 8%
Others 14%
*Revenue from operations excluding other income.
All Rights Reserved@Sandhar 2021
6
H1-FY 22 Financial Snapshot (fig. in Rs. Crs)
Consolidated
Standalone
GR Vs LY
63%
GR Vs LY 107%
GR Vs LY 62%
GR Vs LY 103%
GR Vs LY 342%
GR Vs LY
301%
GR Vs LY
2277%
GR Vs LY
2108%
All Rights Reserved@Sandhar 2021
7
632 1,032 6M FY 216M FY 22Revenue46 95 7%9%4%9%14%6M FY 216M FY 22EBITDA(12)23 -2%2%-2%1%4%-15-5515256M FY 216M FY 22PAT530 857 6M FY 216M FY 22Revenue36 72 7%8%6M FY 216M FY 22EBITDA(2)33 0%4%-2%8%6M FY 216M FY 22EBT(1)25 0%3%-1%4%-238131823286M FY 216M FY 22PAT(13)31 -2%3%6M FY 216MFY 22EBT Q2-FY 22 Financial Snapshot (fig. in Rs. Crs)
Consolidated
Standalone
GR Vs LY 24%
GR Vs Q1 51%
GR Vs LY 7%
GR Vs Q1 90%
GR Vs LY 25%
GR Vs Q1 69%
GR Vs LY 11%
GR Vs Q1 147%
GR Vs LY 9%
GR Vs Q1 1576%
GR Vs LY 9%
GR Vs Q1 904%
GR Vs LY 20%
GR Vs Q1 2251%
GR Vs LY 21%
GR Vs Q1 2295%
All Rights Reserved@Sandhar 2021
8
27 30 2 5%5%0%0%3%6%9% - 5 10 15 20 25 30Q2 FY 21Q2 FY 22Q1 FY 22EBT58 62 33 12%10%8%0%3%6%9%12%15%18% - 10 20 30 40 50 60 70Q2 FY 21Q2 FY 22Q1 FY 22EBITDA20 21 2 4%3%1%0%2%4%6%0510152025Q2 FY 21Q2 FY 22Q1 FY 22PAT430 538 319 Q2 FY 21Q2 FY 22Q1 FY 22Revenue46 52 21 11%10%7%Q2 FY 21Q2 FY 22Q1 FY 22EBITDA26 32 1 6%6%0%051015202530Q2 FY 21Q2 FY 22Q1 FY 22EBT20 24 1 5%4%0%Q2 FY 21Q2 FY 22Q1 FY 22PAT502 620 412 Q2 FY 21Q2 FY 22Q1 FY 22Revenue Profit & Loss Statement – Consolidated (fig. in Rs. Crs)
* EPS not annualized for quarter & half year
All Rights Reserved@Sandhar 2021
9
ParticularsQ2 FY 22Q2 FY 21YoY (%)Q1 FY 22QoQ (%)H1 FY22H1 FY21HoH(%)Total Revenue620 502 24%412 51%1,032 632 63%ExpensesCost of materials 373 292 27%231 62%603 361 67%Labour cost49 41 18%39 26%85 61 41%Personnel expenses35 31 11%31 12%67 53 26%Other expenses102 80 29%79 30%181 111 63%Total expenses558 444 26%379 47%937 586 60%EBITDA62 58 7%33 90%95 46 107%EBITDA %10%12%8%9%7%Finance costs4 4 -19%4 -7%7 8 -1%Depreciation25 24 3%24 4%49 45 7%Profit before tax34 30 14%5 581%39 (7) 642%PBT %5%6%1%4%-1%Losses from JV4 2 72%3 29%7 6 25%Profit before tax after JV losses30 27 9%2 1576%31 (13) 342%Tax Expenses8 8 11%(0) 2548%8 (1) 681%Net profit 21 20 9%2 904%23 (12) 301%Net Profit %3%4%1%2%-2%Other comprehensive income(1) (2) (0) (1) (1) Total comprehensive income21 18 15%2 1170%22 (12) 278%Comprehensive Income %3%4%0%2%-2%Cash Profit48 45 7%28 74%75 37 106%Earnings Per Share (EPS)*3.53 3.24 9%0.35 907%3.88 (1.93) 301%Cash Earning Per Share (CEPS)*7.96 7.44 7%4.57 74%12.53 6.08 106% Profit & Loss Statement – Standalone (fig. in Rs. Crs)
* EPS not annualized for quarter & half year
All Rights Reserved@Sandhar 2021
10
ParticularsQ2 FY 22Q2 FY 21YoY (%)Q1 FY 22QoQ (%)H1 FY22H1 FY21HoH(%)Total Revenue538 430 25%319 69%857 530 62%ExpensesCost of materials 358 272 32%207 73%565 336 68%Labour cost40 35 14%30 34%67 49 35%Personnel expenses23 21 10%19 25%45 36 22%Other expenses65 55 19%43 51%109 72 52%Total expenses486 383 27%298 63%785 494 59%EBITDA52 46 11%21 147%72 36 103%EBITDA %10%11%7%8%7%Finance costs2 3 -38%2 -16%4 4 -11%Depreciation18 17 4%18 4%36 33 8%Profit before tax32 26 20%1 2251%33 (2) 2277%PBT %6%6%0%4%0%Tax Expenses8 7 18%0 2128%8 (0) 2998%Net profit 24 20 21%1 2295%25 (1) 2108%Net Profit %4%5%0%3%0%Other comprehensive income(0) (2) (1) (1) (1) Total comprehensive income24 18 (0) 24 (2) Comprehensive Income %4%4%0%3%0%Cash Profit42 37 13%18 127%60 32 90%Earnings Per Share (EPS)*3.94 3.26 21%0.16 2363%4.10 (0.20) 2108%Cash Earning Per Share (CEPS)*6.96 6.15 13%3.07 127%10.03 5.28 90% Balance Sheet (fig in Rs. Crs)
Cash Flow Statement (fig in Rs. Crs)
All Rights Reserved@Sandhar 2021
11
30-Sep-2131-Mar-2130-Sep-2131-Mar-21Application of FundsGross Fixed assets 1,291 1,232 928 898 Less: Acc. Depreciation 411 376 312 289 Net Fixed assets with CWIP 879 856 616 609 Non-current investments52 57 116 114 Other non-current assets30 19 26 17 Inventories 251 211 152 134 Trade receivables 374 357 335 313 Other Current Assets98 95 63 60 Total Application of Funds 1,684 1,596 1,307 1,247 Sources of FundsShare capital60 60 60 60 Reserves and surplus 760 744 764 747 Shareholders' Funds 820 804 824 807 Minority Interest4 4 - - Other Non-current liabilities94 97 22 22 Long Term Secured Loans95 99 0 0 Short Term Loans 209 121 103 43 Current liabilities & Provisions 461 470 358 374 Total Sources of Funds 1,684 1,596 1,307 1,247 ParticularsConsolidatedStandaloneH1 FY 22H1 FY 21H1 FY 22H1 FY 21Cash Flows from Operating ActivitiesProfit before tax 31 (13) 33 (2) Depreciation and amortization expense49 45 36 33 Other adjustments12 12 2 3 Operating profit before working capital changes92 44 70 34 Movements in working capital:(78) (7) (67) 4 Cash generated from operations15 37 4 38 Taxes Paid14 7 13 7 Net cash inflow from (used in) operating activities ( A )1 30 (10) 31 Cash Flows from Investing ActivitiesCapital Expenditure(66) (21) (37) (15) Purchase/Investments in joint ventures(2) (10) (2) (10) Other Reciepts 3 1 3 1 Net cash used in investing activities ( B )(65) (30) (36) (23) Cash Flows from Financing ActivitiesBorrowings Proceeds84 21 60 2 Payment of lease liabilities(7) (7) (4) (4) Dividend Paid(6) (5) (6) (5) Interest paid(7) (7) (3) (4) Net cash inflow from (used in) financing activities ( C )63 2 46 (10) Foreign currency translation gain(1) (3) - - Netincrease/(decrease)incashandcashequivalents (A+B+C)(1) 2 0 (3) Opening Cash Balance6 7 1 3 Cash and equivalents at the end of the year4 6 1 1 ParticularsStandaloneConsolidated WOS Performance (fig in Rs. Crs)
70%
115%
207%
JV* Performance (fig in Rs. Crs)
31%
*Considered 50% All Rights Reserved@Sandhar 2021
9%
25%
12
103 175 6M FY 216M FY 22Revenue10 23 6M FY 216M FY 22EBITDA(5)6 6M FY 216M FY 22EBT25 33 6M FY 216M FY 22Revenue(4)(4)6M FY 216M FY 22EBITDA(6)(7)6M FY 216M FY 22PAT Domestic New Business- Supplies Started to Electric Vehicles
(FY 2021-22)
Product Category
Products Supplied
Key Customer
• Ignition & Switch Locking System • Latch System • Hook & Striker
• Mirror & Vision System
• Wheel Assembly
KABIRA MOBILITY
KABIRA
MOBILITY
PUR ENERGY
All Rights Reserved@Sandhar 2021
13
Overseas New Business- Supplies Started to Electric Vehicles
(FY 2021-22)
Product Category
Products Supplied
Key Customer
• Seat Belt retractor components
TRW
• Wiper systems components
• Electronic circuits housings
and covers
Revenue at Consolidated level from this segment stands Rs. 23.26 Crs. for H1 FY 22.
All Rights Reserved@Sandhar 2021
TRW
14
Potential New Business for Electric Vehicles
(FY 2021-22)
Purchase Order Received Schedule Awaited
Products to be Supplied
Customer Portfolio
• Ignition & Switch Locking System • Latch System • Door Handles • Battery Locking System • Mirrors & Vision System
Strom Motors
IVROOM PVT LIMITED
KUSALVA INTERNATIONAL LTD
Matter Motor Works Limited
NDA Signed- Presently under Technical Discussion
Ignition & Switch Locking System Latch System
• • • USB • Mirrors & Vision System
OZOTEC AUTOMOBILES PVT LTD
All Rights Reserved@Sandhar 2021
15
Shareholding Pattern FY22 vs FY21
Share Price Movement September 21 vs September 20
All Rights Reserved@Sandhar 2021
16
Retail, 12.37%Promoters, 70.35%FII, 1.55%Mutual Funds, 15.74%FY'21Retail, 12.83%Promoters, 70.37%FII, 1.47%Mutual Funds, 15.33%H1 FY'22 THANK YOU