Sharda Motor Industries Limited has informed the Exchange about Investor Presentation
SMIL: BSE/NSE: 21-22/1011
November 10, 2021
BSE Limited
National Stock Exchange of India Limited
Department of Corporate Services
Exchange Plaza, 5th Floor
Pheroze Jeejeebhoy Towers
Plot No. C/1, G Block
Dalal Street, Mumbai - 400 001
Bandra - Kurla Complex, Mumbai - 400 051
(SCRIP CODE - 535602)
(Symbol - SHARDAMOTR) (Series - EQ)
Sub: Submission of - Investors Presentation
Dear Sir / Madam,
Please find enclosed Investor Presentation with regard to the announcement of the Un-audited
Financial Results (Standalone and Consolidated) of the Company for the second quarter ended
September 30, 2021.
The said presentation is available on the website of the Company i.e. www.shardamotor.com
This is for your information and records please.
Thanking You,
Your’s Faithfully
Divyang Jain Asst. Company Secretary & Compliance Officer
Encl. as above
Sharda Motor Industries Limited Lets do great things together
Investor Presentation – November 2021
Safe Harbor
This presentation and the accompanying slides (the “Presentation”), which have been prepared by Sharda Motor Industries Limited (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 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
2
GROUP OVERVIEW
3
Sharda Motor at a Glance
Leading Auto-ancillary Company with Global Aspirations
• Offers highly engineered products and services commencing from emission to suspension systems, roof systems & supply chain management solutions
• Strong market share and healthy long-term relationships with OEMs
• Aligned for long term growth – significant potential growth trajectory
Emission Control (Exhaust System)
Suspension & Stampings
Roof System
Supply Chain Management
Lithium Batteries for Electric Vehicles EV
01
1986 Founded in 1986, SMIL has scaled to numerous highs in the automotive industry.
World class Manufacturing Infrastructure
9 manufacturing units, 3 sales offices & 1 R&D center
* Note Eberspaecher Exhaust Technology International GmbH Kinetic Green Energy & Power Solutions Limited
Full Backward Integration
Owns 2 Tube Mills & 3 Stamping Plants
Strategic Partnerships* • Eberspaecher, Germany (CV
exhaust systems)
• Kinetic Green, India (EV Battery) • Bestop Inc. USA (Roof Systems)
Sound Financials • Debt Free Company • CRISIL AA-/Stable
rating
Certified
ISO 9001
4
Key Milestones
1986
1994
2002
2013
2018
2020
IPO and listing on Delhi Stock Exchange
Foray into Exhaust System business with a facility in Chennai & Agreement with Hyundai
Established R&D for Emission Control
Listing on NSE
Formed a Joint Venture (JV) with Germany based Eberspaecher*
Formed a Joint Venture (JV) with Kinetic Green for Lithium Battery manufacturing
Inception of Sharda Motor Industries
Launch of first large scale production plant & Entry into Seat Trim business
Ventured into Suspension Assembly business & established R&D unit for exhaust systems
Listing on BSE
Entered into technology collaboration with Bestop Inc. USA
1987
1998
2010
2015
2019
Approval of Scheme of Arrangement between the Company and NDR Auto Component Limited
2021
* Eberspaecher Exhaust Technology International GmbH
5
Manufacturing Infrastructure
SMIL Units • Sanand
• Exhaust System
• Nashik
• Suspension Assembly
• Exhaust System • Roof System
• Pune
• Exhaust System
• Suspension Assembly
• Chennai
• Tube Mill / R&D • Exhaust System
• Delhi
• Corporate Office
• Haridwar
• Stamping of Parts, Fuel Tank & Exhaust System
Joint Venture Unit • Pune
• Exhaust System – 2 Plants
•
Lithium Battery (under consideration)
• Namyang - Korea
• Design & Development Centre
Haridwar
Delhi
Sanand
Nashik
Pune
Design & Development Centre Namyang, Korea
Namyang
‘State of Art’ manufacturing facilities across 7
locations in four states of India
9 manufacturing units (incl. JV) and 1 R&D center
cover major part of the auto component market
Chennai
Supplies exceptional automotive components to
leading vehicle and engine / genset manufacturers
Note – Maps not to scale. All data, information, and maps are provided “as is” without warranty or any representation of accuracy, timeliness or completeness
6
Research & Development
Established R&D unit for exhaust system in 2002 and emission system 2010 at Mahindra World City, Chennai
A state of art facility to Design, Simulate, Testing and Prototype of exhaust system for PVs & CVs as well as non-automotive applications
R&D Centre has the full capabilities to cater to various emission norms ranging from BS4, BS6, Tier 4 & Tier 5
100+ Trained and skilled engineers for CFD, FEA and Acoustics
ISO 9001 Certified
Mahindra World City
Note – Maps not to scale. All data, information, and maps are provided “as is” without warranty or any representation of accuracy, timeliness or completeness
7
Our Experience of more than 3 Decades
Tractors – All Ranges
Timing: Achievement of all timing milestones
Medium & Heavy Commercial Vehicle ranging from 2.5L – 8L
Costs: Achievement of all cost targets
Off-road vehicle ranging from 2L – 4L
Passenger Vehicle ranging from 1L – 3L
Stationary engine ranging from 0.3L – 3.5L
Process stability: Method of mass production realized in prototype tooling
Process: Integration of new customer processes during the project
Testing: All component level testing done in-house
Prototypes: PT Building in line with final production part and customer requirements
8
Our Technology Expertise
Responsibilities
Concept Design
CFD Analysis
Acoustic Simulation
Structural Analysis
Proto Build
Industrialization
Testing
SOP
Passenger Vehicle Engine
Small Commercial Vehicle Engine
Light Commercial Vehicle Engine
Medium Commercial Vehicle Engine
Heavy Commercial Vehicle
3 Wheeler Passenger / Load Carrier
Tractors and Off-road Vehicles
Yes
Has ability for testing up to 8L engine for Heavy Commercial Vehicle
9
Legislation Tailwinds Leading to increase in content per Vehicle
Off-Road
Legislation
Impact
CEV IV* (April 2021)
TREM IV** (April 2022)
CEV V* & TREM V** (April 2024)
CEV IV & V and TREM IV & V emission standards are for non road diesel engines used in construction and agricultural equipment
• With applicability of new emission norms, the addressable market segment is expected to grow a CAGR of ~114% in next 5 years
• Content per equipment will increase by more than 100%
• We have already developed and validated export product
equivalent to TREM V norms
On-Road
BS-VI norms on RDE (Real Driving Emissions) (April 2023)
BS-VI OBD-II (On-Board Diagnostics) (April 2023)
Norms will require cars to achieve emission targets even in real world conditions, as opposed to just a laboratory environment
On-board diagnostic systems for emission control shall have the capability of identifying the likely area of malfunction by means of fault codes stored in computer memory as per the procedure laid down in AIS 137 when that failure results in an increase in emission above the limits
• RDE norms will result in addressable market CAGR of ~7%
over next 5 years
• With applicability of RDE norms from April 2023, the content
per vehicle is expected to increase by 10-15%
• BS-VI OBD-II norms will enable to capture additional organic
growth
* - CEV Stage – IV and CEV Stage-V for the Construction Equipment Vehicles ** - TREM Stage-IV and TREM Stage-V for Agricultural Tractors and other Equipments
10
Growth Drivers
Operational efficiencies
▪ Sustainable growth in operating profits vs Cyclical auto industry
▪ Backward integration by producing in-house bought out parts
Technology – Key entry barrier
▪ Strategic technology partnership giving access to world class technology in
emission control system act as a key entry barrier for most of domestic suppliers
Improvement in Asset Efficiency
Revenue Expansion & Visibility
▪ Projects in pipeline requiring only incremental CAPEX with high cash
generation ability
▪ Capitalizing on Eberspaecher JV and implementation of BS VI emission norms
▪ Foray into Electric Vehicle lithium battery manufacturing segment
▪ High margin export markets for subcomponents
Investment Capabilities
▪ Debt free with INR 286 crore surplus cash as on 30th September 2021
▪ Monetizable properties in National Capital Region
11
Backward Integration & Opportunities
Structural Advantage
Completely backward integrated with two tube mills and three stamping plants.
With manufacturing infrastructure already in place and no incremental setup cost, Export market for subcomponents offers higher margins and larger market opportunity
Value Accretion
Complete control
Over process and supply chain efficiencies, leading to cost optimization and gaining strategic advantage over competitors
Established expertise in manufacturing of subcomponents and exploring opportunities in export markets
Leveraging of existing setup for new applications
12
Future Ready
Electric vehicle market is estimated to be a
Rs. 50,000 crore opportunity in India by 2025.
Most of Indian consumers would consider buying an electric vehicle by the year 2022
The study also highlighted for an average Indian consumer, price point of Rs. 23 lakh
EV market in India is likely to increase at a CAGR of 36% until 2026
Projection for EV battery market is forecast to expand at a CAGR of 30%
Favorable government policies and incentives will boost Electric Vehicle sector
Getting Future Ready
s r e v i r D e l c i h e V c i r t c e l E
De-Risking
Investment in Emerging technologies
Partner with OEM that are already
into production and sales of electric
vehicles, assuring ready market and
technology exchange.
•
•
Entered JV with Kinetic Green for
manufacturing of lithium
batteries for electric vehicles
Provide an early mover
advantage
Source: IBEF
13
Strategic Technology Partnerships – Key Entry Barrier
Eberspaecher and Sharda Motor Industries Ltd. entered
into a JV to manufacture commercial vehicle exhaust
systems in India. Eberspaecher brings in Global know-how
for the local market.
Technical Collaborations
Joint Venture – Lithium Battery Manufacturing
Kinetic Green^ and Sharda Motor Industries Ltd.
entered into a JV for manufacturing of Lithium
batteries along with BMS for Electric Vehicles – 2W,
3W and Stationary applications
Entered a technical partnership
with Bestop Inc. USA for
manufacturing of roof systems
Joint Venture – Exhaust Systems
* - Eberspaecher Exhaust Technology International GmbH
^ - Kinetic Green Energy & Power Solutions Limited
14
Exhaust Systems From an idea to its manufacturing, Sharda Motor leads the market in this category
Indian Market Share of ~30%
Serving PV, CV and Off-road segment.
Catering to Domestic & International customers
Annual Production of ~1 million units
5 plants strategically located across India and present in all automotive hubs
Catering to most of the OEM’s in PV segment
3 stamping plants managing all critical stamping in house
2 tube mills producing stainless steel and aluminized steel tubes for exhaust systems
Technical partnership with Eberspaecher
Most of manufacturing units strategically located close to customer location
Passenger Vehicle
– BS IV System
Passenger Vehicle – Cold End System
Passenger Vehicle
– BS IV System
Tractor – Tier IV System
Commercial Vehicle – Muffler
Generator - Muffler
Passenger Vehicle – Muffler
Passenger Vehicle – Resonator
15
Suspension Systems Expertise in this arena with its world-class manufacturing processes
Indian Market Share of ~10%
Annual Production of ~1.5 lakh units
2 manufacturing units
Concept, Design and Digitizing
Development, Project planning & Testing & Validation
Arm Lower Control Comp RH 2WD
Front Suspension
Upper Arm Assy
Assy. Lower Link Complete RH
Front Axle Assy 4WD
Rear Suspension
16
Experienced Board of Directors
Mr. Kishan Parikh Chairman, Independent Director
Holds Bachelor’s Degree in commerce and has overall experience of more than 30 years in area of Business Management and managing Financial activities
Mr. Ashok Kumar Bhattacharya Independent Director
He holds Bachelor’s degree from IIT, Kharagpur and P.H.D from Cambridge. Has more than 40 years of experience including the in Process Engineering.
Mrs. Sharda Relan Co-Chairperson
Holds Bachelor’s degree and is being associated with the Company since its inception. She has an experience of more than 34 years in area overall management of Business activities.
Mr. Ajay Relan Managing Director
Dynamic entrepreneur having a vast experience manufacturing automobile components and setting up of new projects and its successful implementation. Responsible for overall operations, R&D, Product Development
Mr. Nitin Vishnoi ED & Company Secretary
Fellow member of ICSI and also holds a Bachelor’s degree in Commerce with Honours. Has more than 29 Years of overall work experience and expertise in the field of Corporate Restructuring, Compliance Management and Corporate Governance
Mr. Satinder Kumar Lambah Independent Director
Holds Bachelor’s degree, has been Ambassador of India to Hungary, Germany, Russia and High Commissioner to Pakistan. He has vast experience in several fields of Finance and Management of the Company, overall experience of more than 45 years.
Ms. Sarita Dhuper
Independent Director
She holds MBBS degree along with Masters degree in Medicine and is Practitioner Doctor in USA. She has more than 35 years of experience in the Medicine and related fields.
Mr. Udayan Banerjee Independent Director
Holds Masters Degree in Earth Science from IIT Kharagpur. He has an overall experience of more than 47 Years for working with various reputed organizations.
17
Management Team
Mr. Ajay Relan Managing Director
Responsible for overall manufacturing operations, Plant, Research & Development, Product Development and complete supervision of the Company
Mr. Anand Dinkar Sontakke Chief Operating Officer BE in Mechanical from NIT, ICWAI (intermediate) & CPM from ISM, USA. Has more than 29 years of experience in Manufacturing, Global Purchase & procurement and Sales & Marketing
Mr. Aashim Relan Chief Executive Officer Graduated in Finance & Economics from Emory University, Atlanta and has various other business certifications. He is responsible for managing the Supply Chain, Operations, Strategy & Innovations. Recognized as one the youngest business leaders in the country.
Mr. Deepak Bhaskar Chief People Officer MBA in HR from SIMS, Pune & Executive MBA in Business Management from MDI, Gurgaon. Has proven leadership experience across HR verticals, supported by strong achievements track record. Has served 22+ years in IAF in different capacities
Mr. Srinivasan Narasimhan Chief Financial Officer
Qualified Chartered Accountant, Company Secretary & Cost Accountant, Mr. Srinivasan has also been winner of CFO Power List 2020 in the FP&A Category Amongst the top 100 influential CFOs
Mr. Nitin Vishnoi Executive Director and Company Secretary Fellow member of ICSI and also holds a Bachelor’s degree in Commerce with Honours. Has more than 29 Years of overall work experience and expertise in the field of Corporate Restructuring, Compliance Management and Corporate Governance
Mr. Dnyanesh Dandekar Vice President Research And Development B.E. Mechanical & M.E. Thermal Engineering from Govt. College of Engineering, Karad and Executive MBA from SPJIMR, Mumbai. Has 22 years of experience in development of new products, new technologies as new features in existing products
Mr. Sriram Balaraman Vice President Research And Development Master of Engineering with 25+ years of product development experience in Automotive sector. Last stint with Ashok Leyland Ltd., as Group Head – Exhaust and After Treatment Systems (EATS). Has successfully EATS products for Trucks & Buses for BS3, BS4 & BS6 emission norms
18
Being Recognized
Silver award in Business Alignment Category by Ashok Leyland (2020-21)
Mahindra Supplier Excellence Award for Business Partner of the Year (2015)
Mahindra & Mahindra Annual Commodity Award (2014)
Cummins India ABO Supplier Conference Award for Best Continuous Improvement (2013)
Manufacturing Today Conference And Awards for Excellence in Technology (2013)
Mahindra Supplier Performance Award (2006-07)
Hyundai Merit Award for BEST CO- OPERATION (2005)
Hyundai Merit Award for BEST CO- OPERATION (2004)
Hyundai Appreciation Certificate (2004)
Hyundai 100 PPM Certificate for Outstanding Performance (2002)
19
FINANCIAL HIGHLIGHTS
20
Key Consolidated Financial Highlights for Q2FY22
Rs. Crores
Revenue
EBITDA
+32%
472
587
444
+79%
40
PAT*
+101%
61
42
34
24
21
Q2FY21
Q1FY22
Q2FY22
Q2FY21
Q1FY22
Q2FY22
Q2FY21
Q1FY22
Q2FY22
* Including Profit/(loss) in JV and Associates
21
Key Consolidated Financial Highlights for H1FY22
Rs. Crores
Revenue
EBITDA
+93%
1,059
+298%
101
PAT*
+582%
66
548
26
10
H1FY21
H1FY22
H1FY21
H1FY22
H1FY21
H1FY22
* Including Profit/(loss) in JV and Associates
22
Consolidated Profit & Loss Statement
Particulars (Rs. Crores)
Revenue from Operations
Cost of Goods Sold
Gross Profit
Gross Profit Margin
Employee Cost
Other Expenses
EBITDA
EBITDA Margin
Other Income
Depreciation
EBIT
EBIT Margin
Finance Cost
Profit before Tax
Tax
Profit After Tax
Profit After Tax Margin
Share in Profit/(loss) in JV and Associates
Other Comprehensive Income
Total Comprehensive Income
Q2FY22
Q2FY21
587.1
467.1
120.1
20.4%
22.3
36.5
61.3
10.4%
10.0
9.9
61.4
10.3%
0.4
61.0
15.3
45.7
7.7%
-4.0
-0.1
41.7
444.3
365.1
79.2
17.8%
17.5
27.5
34.2
7.7%
6.0
10.9
29.3
6.5%
0.3
29.0
7.3
21.7
4.8%
-1.0
0.0
20.6
YoY
32%
52%
263 Bps
79%
274 Bps
109%
377 Bps
111%
111%
284 Bps
102%
Q1FY22
471.7
381.1
90.6
19.2%
22.5
28.0
40.1
8.5%
6.3
9.7
36.7
7.7%
0.3
36.4
9.5
26.9
5.6%
-2.5
-0.1
24.3
QoQ
24%
32%
123 Bps
53%
193 Bps
67%
260 Bps
67%
70%
203 Bps
71%
H1FY22
1,058.9
848.2
210.7
19.9%
44.8
64.4
101.4
9.6%
16.3
19.7
98.1
9.1%
0.7
97.4
24.8
72.6
6.8%
-6.4
-0.2
66.0
H1FY21
547.9
448.8
99.1
18.1%
33.6
40.1
25.5
4.7%
10.3
19.1
16.7
3.0%
0.6
16.0
3.9
12.2
2.2%
-2.4
0.0
9.7
YoY
93%
113%
181 Bps
298%
493 Bps
489%
614 Bps
507%
497%
457 Bps
580%
23
Consolidated Balance Sheet
Equity & Liabilities (Rs. Crores)
Sep-21 Mar-21
Assets (Rs. Crores)
Sep-21 Mar-21
Total Equity
Share Capital
Reserves & Surplus
Non-Current Liabilities
Lease
Other Financial Liabilities
Provisions
Current Liabilities
Financial Liabilities
Lease
Trade Payables
Other Financial Liabilities
Other Current Liabilities
Provisions
Total Equity & Liabilities
489.0
430.8
5.9
5.9
483.1
424.9
18.4
12.1
0.2
6.1
16.8
11.3
0.3
5.2
438.9
525.1
0.5
0.6
395.6
471.3
5.0
30.9
6.9
9.2
36.6
7.4
946.3
972.7
Non - Current Assets Property Plant & Equipments Capital Work In Progress Right of Use Asset Intangible assets Financial Assets Investment in JV and Associate Others Non Current Tax Assets Other Non Current Assets Deferred Tax Assets (net) Current Assets Inventories Financial Assets Investments Trade receivables Cash and cash equivalents Bank balances other than cash and cash equivalents Others Other Current Assets Assets Held for Sale Total Assets
199.7 148.5 0.2 10.7 0.7
27.0 2.0 3.8 2.8 4.1 746.6 164.3
16.1 285.1 107.5 162.7 6.4 4.4 0.1 946.3
218.1 168.0 0.1 10.5 0.9
23.4 4.0 4.5 3.0 3.7 754.6 138.6
17.1 324.3 73.0 190.0 6.0 5.4 0.2 972.7
24
Standalone Profit & Loss Statement
Particulars (Rs. Crores)
Q2FY22
Q2FY21
Revenue from Operations
Cost of Goods Sold
Gross Profit
Gross Profit Margin
Employee Cost
Other Expenses
EBITDA
EBITDA Margin
Other Income
Depreciation
EBIT
EBIT Margin
Finance Cost
Profit before Tax
Tax
Profit After Tax
Profit After Tax Margin
Other Comprehensive Income
Total Comprehensive Income
587.1
467.1
120.1
20.4%
22.3
36.5
61.3
10.4%
10.0
9.9
61.4
10.3%
0.4
61.0
15.3
45.7
7.7%
-0.1
45.6
444.3
365.1
79.2
17.8%
17.5
27.5
34.2
7.7%
6.0
10.9
29.3
6.5%
0.3
29.0
7.3
21.7
4.8%
0.0
21.6
YoY
32%
52%
263 Bps
79%
274 Bps
109%
377 Bps
111%
111%
284 Bps
111%
Q1FY22
471.7
381.1
90.6
19.2%
22.5
28.0
40.1
8.5%
6.3
9.7
36.7
7.7%
0.3
36.4
9.5
26.9
5.6%
-0.1
26.8
QoQ
24%
32%
123 Bps
53%
193 Bps
67%
260 Bps
67%
70%
203 Bps
70%
H1FY22
1,058.9
848.2
210.7
19.9%
44.8
64.4
101.4
9.6%
16.3
19.7
98.1
9.1%
0.7
97.4
24.8
72.6
6.8%
-0.2
72.4
H1FY21
547.9
448.8
99.1
18.1%
33.6
40.1
25.5
4.7%
10.3
19.1
16.7
3.0%
0.6
16.0
3.9
12.2
2.2%
0.0
12.1
YoY
93%
113%
181 Bps
298%
493 Bps
489%
614 Bps
507%
497%
457 Bps
497%
25
Standalone Balance Sheet
Equity & Liabilities (Rs. Crores)
Sep-21 Mar-21
Total Equity
Share Capital
Reserves & Surplus
Non-Current Liabilities
Lease
Other Financial Liabilities
Provisions
Current Liabilities
Financial Liabilities
Lease
Trade Payables
Other Financial Liabilities
Other Current Liabilities
Provisions
510.0
445.4
5.9
5.9
504.1
439.5
18.4
12.1
0.2
6.1
16.8
11.3
0.3
5.2
438.9
525.1
0.5
0.6
395.6
471.3
5.0
30.9
6.9
9.7
36.1
7.4
Total Equity & Liabilities
967.3
987.3
Assets (Rs. Crores) Non - Current Assets Property Plant & Equipments Capital Work In Progress Right of Use Asset Intangible assets Financial Assets Investment in JV and Associate Others Non Current Tax Assets Other Non Current Assets Deferred Tax Assets (net) Current Assets Inventories Financial Assets Investments Trade receivables Cash and cash equivalents Bank balances other than cash and cash equivalents Others Other Current Assets Assets Held for Sale Total Assets
Sep-21 220.7 148.5 0.2 10.7 0.7
48.0 2.0 3.8 2.8 4.1 746.6 164.3
16.1 285.1 107.5 162.7 6.4 4.4 0.1 967.3
Mar-21 232.7 168.0 0.1 10.5 0.9
38.0 4.0 4.5 3.0 3.7 754.6 138.6
17.1 324.3 73.0 190.0 6.0 5.4 0.2 987.3
26
Cash Flow Statement
Particulars (Rs. Crores)
Net Profit Before Tax
Adjustments for: Non -Cash Items / Other Investment or Financial Items
Operating profit before working capital changes
Changes in working capital
Cash generated from Operations
Direct taxes paid (net of refund)
Net Cash from Operating Activities
Net Cash from Investing Activities
Net Cash from Financing Activities
Net Decrease in Cash and Cash equivalents
Add: Cash & Cash equivalents at the beginning of the period
Cash & Cash equivalents at the end of the period
Standalone
Consolidated as on
Half year ended 30-Sep-21
Half year ended 30-Sep-20
Half year ended 30-Sep-21
Half year ended 30-Sep-20
97.4
8.2
105.6
-63.6
42.1
24.9
17.2
26.2
-9.0
34.5
73.0
107.5
16.0
12.4
28.4
34.6
63.0
8.9
54.1
-63.9
-0.6
-10.4
78.6
68.2
97.4
8.2
105.6
-63.6
42.1
24.9
17.2
26.2
-9.0
34.5
73.0
107.5
16.0
12.4
28.4
34.6
63.0
8.9
54.1
-63.9
-0.6
-10.4
78.6
68.2
27
Historical Profoma Financial Highlights*
Rs. Crores
Revenue
EBITDA
PAT*
1,737
128
129
81
+24%
117
116
96
68
67
55
52
845
938
863
739
FY17
FY18
FY19
FY20
FY21
FY17
FY18
FY19
FY20
FY21
FY17
FY18
FY19
FY20
FY21
* Consolidated Excluding Seating Business
* Including Profit/(loss) in JV and Associates
28
Consolidated Profit & Loss Statement
Particulars (Rs. Crores)
Revenue from Operations Cost of Goods Sold Gross Profit Gross Profit Margin Employee Cost Other Expenses EBITDA EBITDA Margin Other Income Depreciation EBIT EBIT Margin Finance Cost Exceptional Item Gain / (Loss) Profit before Tax Tax Profit After Tax Profit After Tax Margin Share in Profit/(loss) in JV and Associates Other Comprehensive Income Total Comprehensive Income
FY21
1,736.5 1,419.5 317.1 18.3% 81.6 106.2 129.3 7.4% 21.5 44.0 106.8 6.1% 1.4 0 105.3 26.7 78.6 4.5% -11.9 -0.4 66.3
FY20
863.0 585.9 277.1 32.1% 85.0 96.3 95.8 11.1% 23.7 40.2 79.3 8.9% 0.9 0 78.5 20.7 57.8 6.5% -5.4 -0.1 52.3
YoY
101%
14%
35%
35%
34%
36%
27%
29
Consolidated Balance Sheet
Equity & Liabilities (Rs. Crores)
Mar-21 Mar-20
Total Equity
Share Capital
Reserves & Surplus
Non-Current Liabilities
Lease
Other Financial Liabilities
Provisions
Deferred Tax Liabilities
Current Liabilities
Financial Liabilities
Lease
Trade Payables
Other Financial Liabilities
Other Current Liabilities
Provisions
Total Equity & Liabilities
430.9
364.6
5.9
5.9
424.9
358.6
16.8
11.3
0.3
5.2
0.0
15.1
10.1
0.3
4.4
0.2
525.1
242.5
0.6
0.6
471.3
206.5
9.7
36.1
7.4
11.9
17.1
6.4
972.7
622.2
Assets (Rs. Crores) Non - Current Assets Property Plant & Equipments Capital Work In Progress Right of Use Asset Intangible assets Financial Assets Investment in JV and Associate Others Non Current Tax Assets Other Non Current Assets Deferred Tax Assets (net) Current Assets Inventories Financial Assets Investments Trade receivables Cash and cash equivalents
Bank balances other than cash and cash equivalents
Others Other Current Assets Assets Held for Sale Total Assets
Mar-21 Mar-20
218.1 168.0 0.1 10.5 0.9
23.4 4.0 4.5 3.0 3.7 754.6 138.6
17.1 324.3 73.0
190.0
6.0 5.4 0.2 972.7
225.0 175.4 0.9 10.1 0.7
22.8 2.3 2.8 10.1 0.0 397.1 106.9
16.8 117.1 78.6
67.7
5.0 4.9 0.2 622.2
30
Standalone Profit & Loss Statement
Particulars (Rs. Crores) Revenue from Operations
Cost of Goods Sold Gross Profit
Gross Profit Margin Employee Cost
Other Expenses EBITDA
EBITDA Margin
Other Income
Depreciation
EBIT
EBIT Margin Finance Cost
Exceptional Item Gain / (Loss) Profit before Tax
Tax Profit After Tax
Profit After Tax Margin Other Comprehensive Income
Total Comprehensive Income
FY21 1,736.50
1,419.50 317.0
18.3% 81.6
106.2 129.2
7.4%
21.5
44.0
106.7
6.1% 1.4
0 105.3
26.7 78.6
4.5% -0.4
78.2
FY20 863
585.9 277.1
32.1% 85.0
96.3 95.8
11.1%
23.7
40.2
79.3
8.9% 0.9
0 78.5
20.7 57.8
6.5% -0.1
57.7
YoY 101%
14%
35%
35%
34%
36%
36%
31
Standalone Balance Sheet
Equity & Liabilities (Rs. Crores)
Mar-21 Mar-20
Total Equity
Share Capital
Reserves & Surplus
Non-Current Liabilities
Lease
Other Financial Liabilities
Provisions
Deferred Tax Liabilities
Current Liabilities
Financial Liabilities
Lease
Trade Payables
Other Financial Liabilities
Other Current Liabilities
Provisions
Total Equity & Liabilities
445.4
367.2
5.9
5.9
439.5
361.3
16.8
11.3
0.3
5.2
0.0
15.1
10.1
0.3
4.4
0.2
525.1
242.5
0.6
0.6
471.3
206.5
9.7
36.1
7.4
11.9
17.1
6.4
987.3
624.8
Assets (Rs. Crores) Non - Current Assets Property Plant & Equipments Capital Work In Progress Right of Use Asset Intangible assets Financial Assets Investment in JV and Associate Others Non Current Tax Assets Other Non Current Assets Deferred Tax Assets (net) Current Assets Inventories Financial Assets Investments Trade receivables Cash and cash equivalents
Bank balances other than cash and cash equivalents
Others Other Current Assets Assets Held for Sale Total Assets
Mar-21 Mar-20
232.7 168.0 0.1 10.5 0.9
38.0 4.0 4.5 3.0 3.7 754.6 138.6
17.1 324.3 73.0
190.0
6.0 5.4 0.2 987.3
227.7 175.4 0.9 10.1 0.7
25.5 2.3 2.8 10.1 0.0 397.1 106.9
16.8 117.1 78.6
67.7
5.0 4.9 0.2 624.8
32
Cash Flow Statement
Particulars (Rs. Crores)
Net Profit Before Tax
Adjustments for: Non -Cash Items / Other Investment or Financial Items
Operating profit before working capital changes
Changes in working capital
Cash generated from Operations
Direct taxes paid (net of refund)
Net Cash from Operating Activities
Net Cash from Investing Activities
Net Cash from Financing Activities
Net Decrease in Cash and Cash equivalents
Add: Cash & Cash equivalents at the beginning of the period
Cash & Cash equivalents at the end of the period
Standalone
Consolidated
FY21
105.3
29.6
134.8
45.5
180.3
-32.2
148.1
-152.2
-1.5
-5.6
78.6
73.0
FY20
78.5
-104.4
-25.9
16.8
-9.2
-20.9
-30.1
39.2
-1.0
8.2
70.4
78.6
FY21
105.3
29.6
134.8
45.5
180.3
-32.2
148.1
-152.2
-1.5
-5.6
78.6
73.0
FY20
78.5
-138.0
-59.6
16.7
-42.8
-20.9
-63.7
72.9
-1.0
8.2
70.4
78.6
33
Adjusted ROCE*
Particulars (Rs. Crores)
H1FY22^
FY21
Interest Income on Cash (A)
EBIT (B)
Equity Capital (C)
Debt Capital (D)
13.8
188.1
489.0
0.0
10.0
106.7
430.9
0.0
FY20
5.5
79.4
364.6
0.0
FY19
4.8
113.3
409.4
0.0
Cash & Equivalents (E)
270.2
263.0
146.3
141.1
FY18
3.9
97.2
FY17
3.0
87.8
318.0
260.0
0.0
73.7
22.5
59.9
Adj. ROCE = (B-A) / (C+D-E)
79.7%
57.6%
33.9%
40.4%
38.2%
38.1%
* Excluding Seating Business ^ Calculated on TTM Basis
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Corporate Social Responsibility Initiatives
Sharda Motor believes in the preservation of the environment. Our team of volunteers contributed their time, effort and sweat in making the environment better by planting trees and sapling of flowers.
Tree Planting
Stop Plastic Pollution
Blood Donation Drive
Installed plastic bottle shredding machine at Jamshedpur district of Jharkhand.
Organized blood donation camps to help hospitals and blood banks to save precious lives.
Provided Ambulances under the Sharda CSR Foundation Trust in Chennai, Pune and Nashik to assist in their fight against Covid
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For further information, please contact
Company :
Investor Relations Advisors:
CIN: L74899DL 1986PLC023202
CIN: U74140MH2010PTC204285
Mr. Srinivasan Narasimhan
Chief Financial Officer
Email: sn.s@shardamotor.com
www.shardamotor.com
Mr. Jigar Kavaiya
jigar.kavaiya@sgapl.net +91 9920602034
www.sgapl.net
36