UNOMINDA

Investor Presentation Q3FY22 February 7, 2022 Transforming The Present, Reimagining The Future 2/24 SAFE HARBOR 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 ancillary 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. Content 3/24 Industry Landscape Key Operational Highlights Financial Highlights Strategic Business Update Annexures Overview: Uno Minda Group 4/24 INDUSTRY HIGHLIGHTS Union Budget 2022: interoperability standards for battery swapping to facilitate fast EV adoption Mandatory Airbags – another step towards increasing Road Safety: GOI issued a notification on January 14th, 2022 proposing to make it mandatory for car manufactures to have a minimum 6 airbags in the PVs from October 1st, 2022. This safety measure can create potential industry sales of around Rs 3,000 Cr in next 5 years. Cr It was already mandatory for cars to have a minimum of two airbags for Driver and Co-driver. Production Linked Incentive (PLI) Scheme: Overwhelming Response Image The government has now received application from a total of 115 companies so far towards PLI Scheme till 9th January 2022. The government will review these applications and shall respond to the applications within 60 days. Semi-conductor Chip Shortage: Gradual Improvement The situation continues to improve, but it is expected to persist for another 2-3 quarters Pricing Pressures Persists The Industry continue to face strong headwinds in form of increasing raw material prices and input costs since last few quarters. The major inputs used in the production across the diverse product portfolio viz. Aluminum, Copper, Nylon and Brass sheets. The prices in the current quarter stands higher by 60%, 22%, 25% and 21% respectively vis-à-vis FY21. 5/24 KEY 0PERATIONAL HIGHLIGHTS FOR THE QUARTER Joint Venture with Friwo enhancing the already We are impressive EV product portfolio GREAT PLACE TO WORK-CERTIFIED Building and Sustaining High-Trust, High-Performance Culture TLA with Dhama Innovations for Temperature Controlled Automotive Seats. Under this agreement, Dhama and MIL will launch series of Heating and Cooling seats for the Automobile Industry. Commissioning of all four lines of 2 W Alloy wheel Image Capacity Expansion: Capacity Enhancement of 2W alloy wheel by 2.0 Mn Capacity Enhancement of 4W Alloy wheel by 0.36 Mn Order Wins: Orders wins with aggregate annual peak sales value of more than Rs 400 Crore from new age EV OEMs. Peak sales value expected in FY 25. 7/24 KEY FINANCIAL HIGHLIGHTS FOR THE QUARTER Revenues increased by 7% Y-o-Y and 3% Q-o-Q to Rs 2,181 Cr for the quarter in spite of supply side constraints adversely impacting auto industry volumes. EBIDTA higher by ~3% Q-o-Q to Rs 235 Cr for the quarter however lower on Y-o-Y basis as the input cost pressure persists. Image EBIDTA margin remained stable at 10.8% vis-a-vis previous quarter PAT increased by 7% on Q-o-Q basis to Rs 101 Cr for the quarter however lower by 12% on Y-o-Y basis. 8/24 CONSOLIDATED FINANCIAL HIGHLIGHTS – Q3FY22 Revenue (Rs. Cr) EBITDA (Rs. Cr) 279 2,181 2,031 235 236 100 228 94 20 13 1,945 1,803 159 129 Q3 FY21* Q3 FY22 Q3 FY21* Q3 FY22 PBT** Interest Depreciation MIL HSSL PAT^ (Rs. Cr) Margin (%) 13.7% 10.8% 115 101 5.7% 4.6% Q3 FY21* Q3 FY22 Q3 FY21* Q3 FY22 MIL Consol EBITDA PAT^ *Restated on account ofHarita Merger | **PBT= PBT less Other Income and Exceptional Items | ^PAT MIL Share 9/24 REVENUE BRIDGE Rs. Crs 2,181 95 8 2,031 97 -39 28 -39 Q3FY21* Switch Lightings Acoustics Castings Seatings Others Q3FY22 * Restated on account of HaritaMerger 10/24 BUSINESS REVIEW Product Segment Revenue Growth ( Figures in Rs Crores) Business Developments 33% 33% 31% • Won Orders from 2W EV OEMs for switches 29% • Commercial production started for export order from 2W 736 29% 677 649 638 marque OEM 460 Switches Q3 FY21 Q4 FY21 Q1 FY22 Q2 FY22 Q3 FY22 • Won Large Orders from 2W EV OEMs for lamps 23% 21% 22% • Won Large Orders from Italian 2W OEM for tail lamps and 22% blinkers from our Vietnam plant (MIVCl) 21% • Another LED Headlamp order with MFR technology from 459 472 454 487 Japanese PV OEM 345 • Gujrat plant set up going as per plan Lighting Q3 FY21 Q4 FY21 Q1 FY22 Q2 FY22 Q3 FY22 • Won Pillion grip and 2 W Alloy wheel orders from 2W EV 16% 15% 15% OEM 13% 13% • Supplies to Korean customer started for 4 W Alloy wheel 355 with LPDC technology 301 320 258 233 • Additional order from Korean customer for 4W Alloy wheel Castings • Mass production and supply of 2W Alloys wheel started for Q3 FY21 Q4 FY21 Q1 FY22 Q2 FY22 Q3 FY22 2 more 2W OEM 11/24 BUSINESS REVIEW Product Segment Revenue Growth ( Figures in Rs Crores) Business Developments 9% 10% 9% 7% 7% • Won order from 2W EV OEM • Acoustics Business in Europe remain subdued 190 193 155 154 151 however volumes are increasing gradually. Acoustics Q3 FY21 Q4 FY21 Q1 FY22 Q2 FY22 Q3 FY22 12% 12% 11% 11% 11% • Won orders from 2W EV OEMs 227 245 243 236 195 Q3 FY21 Q4 FY21 Q1 FY22 Q2 FY22 Q3 FY22 Seating 13% 13% 11% • Wireless charger in supply and production for two 14% 14% PV OEMs, Incremental orders from Japanese PV OEM 315 280 293 220 216 • On Board Charger and BMS order from traditional Others OEMs Q3 FY21 Q4 FY21 Q1 FY22 Q2 FY22 Q3 FY22 12/24 DIVISION-WISE REVENUE MIX Q3 FY21 (%) Q3 FY22 (%) Others Others 16% 11% Switches Seatings 29% Seatings Switches 11% 11% 33% Castings Castings 13% 16% Acoustics Lighting Acoustics Lighting 9% 23% 7% 22% 13/24 REVENUE BREAKUPS Q3 FY22 International Replacement 14% 12% Geography-wise Breakup Channel-wise Breakup India 86% OEM 88% AFTERMARKET DIVISION REVENUE (Rs Cr) 11% 10% 12% 11% Segment-wise 7% Breakup 262 223 215 225 4W 2W 114 53% 47% Q3 FY21 Q4 FY21 Q1 FY22 Q2 FY22 Q3 FY22 14/24 STRATEGIC BUSINESS UPDATE Minda iConnect: Consolidation of Minda Kosei: Merger of Subsidiary Partnership Firms Stake Increase in Subsidiary MIL will acquire the stake in 4 Meeting of Shareholders and MIL shall enhance its stake in affiliate partnership firms, as a Creditors is scheduled to be its key subsidiary Minda Kosei part of group consolidation held on February 16th 2022. Aluminum Wheels Company exercise Post which, the merger is Limited (MKA) from 70% to expected to be completed 77.35% through rights issue within 3-4 months. 15/24 Additional Investment in Minda Kosei Aluminum Minda Industries Ltd is Increasing stake in Joint venture company Minda Kosei Aluminum Wheels (P) Ltd (MKA). from 70% to 77.35% by subscribing to rights issue at face value of Rs 10 each. 4W Alloy Wheel Capacity per month (In ‘000) Joint venture partner has renounced rights in favour of Minda 330 300 Industries Ltd for subscribing to rights issue. 240 Total amount to be invested by way of rights issue is Rs 61.2 210 Crores 180 180 Rational for Investment 120 • MKA has demonstrated strong financial performance in last 2-3 years • Already announced significant expansion at both its plants i.e. Bawal and Gujarat FY18A FY19A FY20A FY21A FY22E FY23E FY24E • Significant growth opportunities with increase penetration of 4W Alloy wheel and import substitution. • Transaction will be value accretive to shareholders. 16/24 Consolidation of Partnership Firms The company initiated consolidation exercise five years back as part of Financial Snapshot ( In Rs Crores) which stakes owned by promoter under UNO Minda group in various YA Auto Auto entities were transferred to Minda Industries Ltd at or close to book value. Industries Components FY 21 FY 21 While all Group companies were transferred to Minda Industries Ltd in last Total Income 72.26 86.03 few years, there were four partnership firm where promoters held some PAT 8.8 8.21 stake along with third party Net Assets 3.7 8.47 Existing Share 51.00% 49.87% The company is now consolidating stake in these partnership firm by Post acquiring remaining stake of promoters effective from 1st Jan 2022. Consolidation 87.50% 95.00% Share Aggregate investment of around Rs 17.49 Crores for buying remaining stake. In line with their commitment, the transaction is being done at Financial Snapshot ( In Rs Crores) book value by promoters. Samaira S.M. Auto Rational for Investment Engineering Industries FY 21 FY 21 • Simplify the holding structure and improve transparency with Total Income 146.68 18.71 reduction of related parties transactions. PAT 14.09 1.23 • Transaction will be value accretive to shareholders. Net Assets 4.12 3.45 This concludes our consolidation exercise with all group companies with Existing Share 0.00% 0.00% auto components business now have been brought under listed entity Post barring the JV with Nabtesco which the Group is planning to exit in near Consolidation 87.50% 87.50% future. Share 18/24 CONSOLIDATED PROFIT & LOSS STATEMENT Rs. Crs Particulars (Rs. Crores) Q3 FY22 Q3 FY21 Y-o-Y% Q2 FY22 QoQ% 9MFY22 9MFY21 Y-o-Y% Revenue from Operations (Net of Excise) 2,181.4 2,031.2 7% 2,114.0 3% 5,897.9 4,135.5 43% Raw Material 1,402.0 1,239.6 1,340.6 3,724.5 2,514.9 Employee Cost 295.4 272.4 302.5 874.1 685.2 Other Expenses 248.8 240.3 243.0 689.5 512.0 EBITDA 235.3 278.9 -16% 227.9 3% 609.9 423.4 44% EBITDA Margin 10.8% 13.7% -294 bps 10.8% 1 bps 10.3% 10.2% 10 bps Other Income 12.5 16.6 21.1 39.7 38.1 Depreciation 94.2 100.4 96.8 281.5 268.2 EBIT 153.7 195.1 -21% 152.1 1% 368.2 193.4 90% EBIT Margin 7.0% 9.6% -256 bps 7.2% -15 bps 6.2% 4.7% 157 bps Finance Cost 12.7 20.0 17.7 48.9 58.5 Profit before Share of Profit/Loss of JVs and Tax 141.0 175.2 -20% 134.5 5% 319.3 134.8 137% PBT Margin 6.5% 8.6% -216 bps 6.4% 10 bps 5.4% 3.3% 215 bps Exceptional Item - - - - - Tax 42.3 47.4 42.3 98.5 52.9 Profit before Share of Profit/Loss of JVs 98.7 127.7 -23% 92.2 7% 220.8 81.9 170% Share of Profit/Loss of JVs 19.5 8.9 21.2 35.7 2.7 Net profit/(loss) after share of profit/(loss) of associates / joint ventures (A) 118.2 136.6 -13% 113.4 4% 256.5 84.6 203% PAT Margin % 5.4% 6.7% -131 bps 5.4% 5 bps 4.3% 2.0% 230 bps PAT attributable to: -Owners of MIL 101.3 115.4 -12% 94.7 7% 211.4 66.3 219% -Non Controlling Interests 16.9 21.2 18.7 45.0 18.3 Other Comprehensive Income -1.9 3.4 3.8 6.6 6.3 Total Comprehensive Income for MIL 99.7 118.5 -16% 99.0 1% 218.7 71.9 204% TCI Margin % 4.6% 5.8% -126 bps 4.7% -11 bps 3.7% 1.7% 197 bps Total Comprehensive Income for Non Controlling Interests 16.6 21.5 18.2 44.4 19.0 About UNO Minda Transforming the present, Reimagining the future 20/24 ABOUT UNO MINDA #1 • Minda Industries Limited is one of the leading manufacturers of auto components domestically with leadership Seats across key product segments. With 20+ Product Lines, 1000+ Business Partnersand over 23,000 employees, covering 50,000+ touch points, the company has 6 decades of experiencein the Auto space #1 Automotive • The company has a well diversified product portfolio with marquee clientele, both globally and domestically. Horns #1 • Continuously expanding capabilities through capacity expansion & partnerships with global majors. Automotive • Product portfolio is well insulated from any foreseeable market disruptions, with an ICE-EV agnostic product Switches portfolio and constantly increasing kit value, leading to higher wallet share with existing and potential clients. #1 • The company has been steadily growing its global presence through sustained capacity additions and channel Alloy expansions. Wheels #1 #2 • Strong R&D focus and infrastructure helps in in-house product development and localization of products, with a team of 700+ engineers, 275+ Patentsand 250+ design registrations, with 75+ R&D technology projects underway Telematics Speakers #1 #2 • Track record of robust financial performance and delivering strong shareholder returns, supported by reputed promoters with rich experience and backed by professional management team. Blow Moulding Airbags Parts • Minda over the years has diversified across product divisions (Acoustics, Switches, Castings, Lighting and others), #2 #2 segments (4Ws & 2Ws) and geographies (International & Domestic) and channels (replacement & OEM). Reverse Parking Air Sensor Filters 21/24 GLOBAL & DOMESTIC PRESENCE - UNO MINDA Overseas Strategically located plants across all major auto hubs India 65 11 R&D R&D 6 Plants Plants Centers 7 Sales Head Registered Offices HO RO Office Office 4 Design Centers North and South America Asia (w/o India) Europe Mexico Indonesia (Queretaro) France (Karawang) Colombia (Epernon) Taiwan (Manizales) Italy (Tainan) (Turin) Thailand Spain (Bangkok) (LaCarolina) Vietnam Germany (VinPhuc) (Ettlingen/Konzell, Japan Munich,Reutlingen) (Nagoya) 22/24 UNO MINDA’s EV PRODUCT PORTFOLIO (2W & 3W) Low Voltage EV Products (48V to 72V) Smart Plug On-Board RCD Cable Charger Body Control Module (BCM) DC-DC Converter Battery Management System Telematics Battery Pack Motor Controller Acoustic Vehicle Alert System Off Board Charger 23/24 Environment, Social and Governance (ESG) Initiatives • Group has taken a lot of initiatives like given below which are expected to have environmental benefits and reduce operational costs • Roof-top solar installation- Installed 8.4 MW rooftop solar cells across 20 plants- ~10% of power requirement of the Group • Green belt plantation drive- ~40% green area for new plants Environmental • Water conservation projects- Reduced water consumption by 10% in 20-21 • LED lights implementation, plastic waste reduction, etc. S.L Minda Memorial Hospital, The Suman Nirmal Minda School Bagla–Haryana (TSNMS), Near Detroj, Gujrat • Vision to enable and empower every member of the society particularly the disadvantaged to live with dignity and happiness • Samarth - Jyoti was started in 2012 under the aegis of Suman Nirmal Minda Charitable Trust to engage and empower the underprivileged people in the rural areas through education, vocational training and skills enhancement Social programs which has supported over 150 Self Help Group (SHGs) so far. • In May 2021, 23-bed Uno Minda COVID Care Center (UMCCC) was opened MindarikaPune MindaKosei Bawal along with the leading medical service partner to take care of the health of employees & their families • Mission to continually enhance the stakeholders’ value through global competitiveness while contributing to society • Corporate Governance framework ensures effective engagement with our stakeholders and which help us to evolve with changing time Corporate • Corporate Governance focusses on appropriate size & mix of Board, Governance formation of various Board Committees, etc. • Mr Sunil Bohra, Group CFO has been conferred with Best CFO Award by CII in November 2021 Uno MindaCovidCare Center, Uno MindaCovidCare Center, Gurgaon Gurgaon 24 24/24 For Further Information, please contact : Company : Investor Relations Advisors : Thank You Minda Industries Ltd. Strategic Growth Advisors Pvt. Mr. Ankur Modi Ltd. Corporate Office Head Treasury and Mr. Jigar Kavaiya Investor Relation Jigar.kavaiya@sgapl.net Address: Village Nawada Fatehpur, amodi@mindagroup.com www.sgapl.net P.O. Sikanderpur Badda, Manesar, Gurgaon – 122004, India. Website: www.unominda.com Email ID: amodi@mindagroup.com Follow us on social media. Links below