Minda Corp. Ltd. · NSE:MINDACORP
Minda — Q3 FY2024 Earnings Presentation
26 slides from Minda's earnings presentation, Feb 1, 2024
Slide 1: Exchange filing cover letter
February 01, 2024 The Officer-In-Charge (Listing) Head - Listing Operations, Listing Department BSE Limited, National Stock Exchange of India Ltd., P.J. Towers, Dalal Street, Fort, Exchange Plaza, Bandra Kurla Complex, Mumbai – 400 001 Bandra (East), Scrip Code: 538962 Mumbai - 400 051 Scrip Code: M
Slide 2: Q3 & 9M FY2024 Earnings Presentation
Q3 & 9M FY2024 EARNINGS PRESENTATION Adding Differentiating Value to the Auto Sector February 2024 w w w. s p a r k m i n d a . c o m
Slide 3: Contents
CONTENTS Company Overview Financial Overview Strategic Pillars of Growth ESG, CSR and Awards
Slide 4: Company Overview
Powered by Passion Company Overview
Slide 5: One of India's Leading Automotive Component Company
One of India’s Leading Automotive Component Company (INR Cr) Business Verticals Particulars FY21 FY22 FY23 9MFY24 Revenue 2,368 2,976 4,300 3,436 EBITDA 217 295 461 376 Information & Plastics & Spark Minda Mechatronics Connected Systems Interiors Aftermarket Green Mobility Margin% 9.2% 9.9% 10.7% 10
Slide 6: Experienced Management Team
Experienced Management Team Independent Directors Ms. Pratima Ram Mr. Ashok Kumar Jha • Ex. Chief Executive Officer, Country Head & M&A • Ex IAS officer, holding crucial positions in head, SBI Capital Markets India’s State & Central Government Ex-Finance • Presently on the Board of Cadila Pharmaceut
Slide 7: Key Performance Highlights – Q3 & 9MFY2024
Key Performance Highlights – Q3 & 9MFY2024 Quarterly revenue of Rs. 1,166 crores, growth of 9% YoY and Nine Months revenue of Rs. 3,436 Resilient performance crores, growth of 7% YoY with consistent double-digit EBITDA margins Delivering double digit EBITDA margin; 11.1% in Q3FY24, growth of 46 bps
Slide 8: Business Highlights – Q3 FY2024
Business Highlights – Q3 FY2024 Multiple Smart Key Orders for LCV Wiring Harness EV 2W & 4W Lifetime Order won worth more than Won lifetime orders worth more than Rs. 450 crores for Light Commercial Rs. 400 Crores from multiple leading Vehicle Wiring Harness from one of the OEM’s in India for their
Slide 9: Inauguration of Smart Key Plant in Vietnam
Inauguration of Smart Key Plant in Vietnam Strategically positioned to serve the diverse customer base in the ASEAN region www.sparkminda.com 8 of 25
Slide 10: Expanding Capacities
Expanding Capacities Verticals • Die Casting • Smart Key • EV Products g • Instrument Clusters • Sensors Instrument Clusters, Pune Sensors, Pune New Facilities under construction for manufacturing Smart Keys, Die Casting Parts, Clusters & Sensors Smart Key Facility, Pune Die Casting Facility, Gr. No
Slide 11: Financial Overview
Financial Overview
Slide 12: Indian Automotive Industry Performance – Q3 FY2024
Indian Automotive Industry Performance – Q3 FY2024 (Production Volumes in Mn) Q3 FY24 Growth (Y-o-Y) Commentary Auto Industry • Q3FY24 saw uptick in demand across most segments, 19.0% 14.8% mainly driven by robust festive season, improved 5.0% 7.33 consumer sentiments and pick up in demand for entry
Slide 13: Superior Financial Performance
Superior Financial Performance Rs. In Cr. REVENUE EBITDA PAT YoY YoY YoY 9% 14% 0.4% Q3 FY24 131 130 59 1,196 1,166 114 52 52 1,068 (2.5) 16 (41) % 10.7% 11.0% bps 11.1% bps 4.9% 4.9% 4.5% Q3FY23 Q2FY24 Q3FY24 Q3FY23 Q2FY24 Q3FY24 Q3FY23 Q2FY24 Q3FY24 EBITDA EBITDA Margin (%) PAT PAT Margin (%) REVE
Slide 14: Consolidated Performance – Q3 & 9M FY2024
Consolidated Performance – Q3 & 9M FY2024 Particulars (Rs. Crores) Q3FY24 Q3FY23 Y-o-Y (%) Q2FY24 Q-o-Q (%) 9MFY24 9MFY23 Y-o-Y (%) Operating Revenue 1,166 1,068 9.1% 1,196 (2.5)% 3,436 3,226 6.5% EBITDA 130 114 13.8% 131 (1.1)% 376 345 9.1% Margin (%) 11.1% 10.7% 46 bps 11.0% 16 bps 10.9% 10.7% 26
Slide 15: Truly Diversified Revenue Model
Truly Diversified Revenue Model By Geography By End Market By Products South East Asia After Market Passenger Vehicles 11% Others 5% 14% Europe & North 13% Wiring Harness America Instrument 33% 8% Clusters 8% 12% 14% 15% 16% 8% 30% 30% 14% Commercial Die Casting 44% 15% 84% Vehicles*, 28% 15% 25% In
Slide 16: Business Verticals Performance – Q3 & 9MFY2024
Business Verticals Performance – Q3 & 9MFY2024 Rs. In Cr. YoY YoY 9% 5% 1,663 Aftermarket and Others 588 Mechatronics and Aftermarket: 1,526 547 575 Mechatronics, • Revenue grew by 5% YoY in Q3FY24 driven by domestic 2W segment and Premiumization, partially offset due to subdued exports and CV segme
Slide 17: Transforming Current Business Lines as per Technology Trends
Transforming Current Business Lines as per Technology Trends Wiring Harness & Clusters, ADAS & Light Weight Die Casting Vehicle Access EV Power Electronics Connectors Sensors & Interior Plastic Electrical Distribution Light weighting & Plastic Intelligent & Smart Connected & Safe Mobility EV Drive T
Slide 18: Minda Corp is well Poised to Capture the EV Trend
Minda Corp is well Poised to Capture the EV Trend Most of our Products are Electric Vehicle Agnostic Potential EV Kit Value In INR 6,000-7,000 22,000 - 27,000 8000-10,000 2,000-2,500 2,000-3,000 4,000-4,500 Legacy Content in Increase in content Increase in content New Product Products under Potentia
Slide 19: Strategic Pillars of Growth
Strategic Pillars of Growth
Slide 20: Strategic Pillars of Growth
Strategic Pillars of Growth Strategic Pillars of Growth Focus on Innovation and Electric Vehicle Strengthening Passenger Enhancing the Core Technology Growth Opportunity Vehicle Offerings Safety Security System | Wiring In House R&D | JV’s EV Agnostic Products| Increase Control Systems | Sensors | H
Slide 21: Engineering Capabilities
Engineering Capabilities Spark Minda Technical Engineering Capabilities ~550+ Centre, Pune & Bangalore Electronics Hardware Engineering Headcount 265 Embedded Software E&E, WH Connection Systems & digitization Total IPs / Patents Filed 3% 100+ Engineers | WH Design | E&E 140+ Engineers | Digital Clu
Slide 22: ESG, CSR and Awards
ESG, CSR and Awards
Slide 23: ESG Sustainability Framework
ESG Sustainability Framework Driving Long-term Value Creation Through the Integration of Sustainability www.sparkminda.com 22 of 25
Slide 24: Corporate Social Responsibility – Q3 FY2024
Corporate Social Responsibility – Q3 FY2024 Awareness session by U.P police on women’s Breast cancer awareness session at Tree plantation on World energy conservation safety, empowerment and self-reliance under Aakarshan centre in association with day Mission Shakti - Women Empowerment initiative Ya
Slide 25: Awards & Achievement – Q3 FY2024
Awards & Achievement – Q3 FY2024 Business Vertical – 1 Business Vertical – 2 (Mechatronics, Business Vertical – 5 (Information & Aftermarkets & others (EME & SMGM) won Connected System 14 Awards during division) won 40 awards division) won 57 Awards during Q3FY24 Q3FY24 during Q3FY24 ▪ QCFI - 22 Awa
Slide 26: Disclaimer
Disclaimer This presentation contains statements that contain “forward looking statements” including, but without limitation, statements relating to the implementation of strategic initiatives, and other statements relating to Minda Corporation Limited (“Minda Corp” or the Company) future business d