Uno Minda Limited · NSE:UNOMINDA
Uno Minda — Q1 FY2024 Earnings Presentation
30 slides from Uno Minda's earnings presentation, Aug 9, 2023
Slide 1: Exchange filing cover letter - Investor Presentation Q1 FY 2024
Uno Minda Limited (Formerly known as Minda Industries Ltd.) Ref. No. Z-IV/R-39/D-2/NSE/207 & 174 Date : 09/08/2023 National Stock Exchange of India Ltd. BSE Ltd. Listing Deptt., Exchange Plaza, Regd. Office: Floor - 25, Bandra Kurla Complex, Bandra (E), Phiroze Jeejeebhoy Towers, Mumbai - 400 051 Da
Slide 2: Investor Presentation Q1 FY'24
INVESTOR PRESENTATION Q1 FY ’24 Aug 9, 2023 1
Slide 3: Safe Harbor
SAFE HARBOR This presentation and the accompanying slides (the “Presentation”), has been prepared by Uno Minda 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 ba
Slide 4: Content
CONTENT 01. Industry Highlights 04 02. Operational Highlights 05 03. Financial Highlights 06 04. Business Review 11 05. Strategic Business Update 18 06. Annexures 20 07. Overview: Uno Minda Group 23 3
Slide 5: Industry Highlights
INDUSTRY HIGHLIGHTS Growth Momentum in Indian Economy Realignment in the FAME subsidy and Auto Industry Continues on electric 2W w.e.f. 1st June 2023 Q1FY 24 GDP growth forecasted at healthy 7.9% Subsidies reduced to Rs 10,000/kwh from Rs All vehicle segment registered YoY growth except marginal 15,
Slide 6: Key Operational Highlights for the Quarter
KEY OPERATIONAL HIGHLIGHTS FOR THE QUARTER Growth across all key product Consolidation of P&L of KMA and segment KMM The Company has also taken management and Growth across all key product segment led by Lighting and operational control of KMA and KMM w.e.f. 1st April 2023, Alloy wheel. Ramp up of p
Slide 7: Financial Information & Recent Updates
FINANCIAL INFORMATION & RECENT UPDATES 6
Slide 8: Key Financial Highlights for the Quarter
KEY FINANCIAL HIGHLIGHTS FOR THE QUARTER Revenues increased by 21% Y-o-Y to EBITDA higher by 24% Y-o-Y to R s 3,093 Cr R s 330 Cr for the quarter for the quarter EBITDA margin higher by 27 bps on Y-o-Y at PAT (UML share) increased by 24% on Y-o-Y basis to at 10.7% for the quarter R s 173 Cr for the
Slide 9: Consolidated Financial Highlights – Q1 FY24
CONSOLIDATED FINANCIAL HIGHLIGHTS – Q1 FY24 Revenue (Rs. Cr) EBITDA (Rs. Cr) 330 266 21% 24% 119 99 25 3,093 2,555 17 159 194 Q1 F Y 23 Q1 F Y 24 Q1 F Y 23 Q1 F Y 24 R evenue P BT Interest Depreciation PAT* (Rs. Cr) Margin (%) 10.4% 10.7% 24% 5.0% 139 173 4.8% Q1 F Y 23 Q1 F Y 24 Q1 F Y 23 Q1 F Y 24
Slide 10: Revenue Bridge – Q1 FY24
REVENUE BRIDGE – Q1 FY24 Rs. Cr 9
Slide 11: Division-wise Revenue Mix
DIVISION-WISE REVENUE MIX Q1 FY23 (%) Q1 FY24 (%) Others Others 14% Switches 13% 27% Switches Seatings 28% 9% Seatings 10% Castings 20% Castings 19% Lighting Acoustics Lighting Acoustics 23% 7% 23% 7% 10
Slide 12: Business Review
BUSINESS REVIEW SWITCHES LIGHTING ACOUSTICS SEGMENTS SEATING CASTINGS OTHERS AFTER MARKET 11
Slide 13: Business Review
BUSINESS REVIEW Product Segment Revenue Growth ( Figures in Rs. Cr) Key updates 28% 29% 29% 27% • Incremental order from Korean Customer 28% 835 839 • E xpansion of 4W switch plants at Chennai and Farrukhnagar 800 815 going as per the plan and expected to commence by Q2 FY 24 730 and Q3 FY 24 respec
Slide 14: Business Review
BUSINESS REVIEW Product Segment Revenue Growth ( Figures in Rs. Cr) Strategic Business Developments 7% 7% 7% 6% • Added Korean customer in India for acoustics business for 6% 181 187 193 208 trumpet and disc horns 172 Acoustic Q1 F Y 23 Q2 F Y 23 Q3 F Y 23 Q4 F Y 23 Q1 F Y 24 10% 9% 9% • Received th
Slide 15: Revenue Breakups Q1 FY24
REVENUE BREAKUPS Q1 FY 24 OR CV 3W 2% International Aftermarket 5% 1% 15% 8% 4W 48% 2W 44% India 85% OE M 92% Geography-wise Breakup Channel-wise Breakup Segment -wise Breakup 14
Slide 16: Aftermarket - Expanding B2C Business
AFTERMARKET- EXPANDING B2C BUSINESS 6,500+ SKUs Key Highlights Switches, Horns, Lightings, Batteries, Filter, Indicator, Bulbs, RVMs, Braking, • Revenue of Rs. 249 Cr during the quarter Shocks & struts and Accessories • Leadership position in major products categories • Strong brand recall with loya
Slide 17: Uno Minda's EV Product Portfolio (2W & 3W)
UNO MINDA’s EV PRODUCT PORTFOLIO (2W & 3W) Low Voltage EV Products (48V to 96V) Products under Production and Motor Controller supply Battery Management Battery Management System (BMS) Smart Plug System On Board Charger Off Board Charger RCD Cable On-Board DC-DC Body Control Module Charger Converter
Slide 18: EV Sales, Order and Potential Kit Value
EV Sales, Order and Potential Kit Value Over 12% share in Sales to 2W Electric Vehicles Rs Crores our Domestic 2W OEM revenues Potential Kit Value (in INR) 136 26,000 78 67 44 23 Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q1FY 24 35,300 Sales to 2W EV 27,300 26,000 Peak Annual Order Value from EV OEM in Rs Crores
Slide 19: Strategic Business Update
Strategic Business Update • MSBPL Demerger and HFRL Merger with Uno Minda Ltd: o NCLT has approved the Scheme vide its order dated 13th July, 2023. o Need to be filed with RoC with 30 days from Order date. Post which the scheme will be effective. • Minda iConnect Pvt Ltd: o Filed revised scheme with
Slide 20: Capital Expansion Update
Capital Expansion Update Total Cost (In Expected Sr Product Line Entity Location Capacity Update Crs) SOP Minda Kosei Commenced and under 1 4W Alloy Wheels 74 Ahmedabad 30k Wheels p.m. Q2 FY24 Aluminum Wheels stabilisation Minda Kosei 2 4W Alloy Wheels 190 Bawal 60k Wheels p.m. Q2 FY25 Project annou
Slide 21: Annexures
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Slide 22: Consolidated Profit & Loss Statement
CONSOLIDATED PROFIT & LOSS STATEMENT Figures in Rs Crores Particulars (Rs. Cr) Q1 FY24 Q4 FY23 QoQ% Q1 FY23 YoY% FY23 Revenue from Operations (Net of Excise) 3,093 2,889 7% 2,555 21% 11,236 Raw Material 1,987 1,860 1,656 7,224 Employee Cost 424 383 341 1,460 Other Expenses 352 327 292 1,310 EBITDA 3
Slide 23: About Uno Minda
ABOUT UNO MINDA T R ANS F OR MING T HE P R E S E NT, R E IMAGINING THE F UT UR E . 22
Slide 24: About Uno Minda
ABOUT UNO MINDA • Uno Minda Limited is one of the leading manufacturers of auto components and systems domestically with leadership across key product segments. With 26+ Product Lines, 73+ Manufacturing facilities, over 29,300 employees, 30+R&D and Engineering Centres and 19+ JV/TLA the company has
Slide 25: Global & Domestic Presence - Uno Minda
GLOBAL & DOMESTIC PRESENCE - UNO MINDA Strategically located plants across all major auto hubs Overseas 6 Plants 6 Sales Offices 6 R&D & E ngg Centers North and South America Europe Asia (w/o India) Mexico France Indonesia (Epernon) India (Queretaro) (Karawang) Colombia Spain Taiwan (Manizales) (La
Slide 26: Global R&D Footprint
GLOBAL R&D Footprint 1022 30 R&D & Engg 55 R&D 104 394 381 Engineers Centers Globally Technology Projects Patent Granted Patent Filed Design Registrations 300 Engineers • Embedded Electronics • Design Studio India (4 Locations) • Pune, Gurugram, Hosur, Chennai Systems GmbH • 75 Engineers • Embedded
Slide 27: Engine agnostic portfolio with potential upside from EV transition
Engine agnostic portfolio with potential upside from EV transition Domains Product Lines BS VI EV 4W Switches & HVAC Charging Sockets Sensors Actuators Controllers Electronic & Control Systems Seat Belts Shifters Infotainment Systems Cameras Telematics & TCU R
Slide 28: Potential Kit Value - Uno Minda
Potential Kit Value - UNO MINDA Kit Value – 2 Wheelers 13,95214,161 14,26114,901 13,910 12,336 12,003 10,661 9,675 9,585 9,231 8,457 8,243 7,110 6,978 7,181 7,324 6,261 4,517 3,611 E conomy E xecutive P remium S cooter Moped 2020 2021 2022 2023 Kit Value – 4 Wheelers 1,97,416 1,46,416 1,40,788 1,20,
Slide 29: Environment, Social and Governance (ESG) Initiatives
Environment, Social and Governance (ESG) Initiatives Environmental Social Corporate Governance More than 90% of plants ISO 14001 & ISO 45001 certified (Environmental & OHS Management System) Vision to enable Employee and Community Well-Being with following organizational goals: • Policies governing
Slide 30: Thank You
THANK YOU. Corporate Office For further information, please contact Uno Minda Ltd Company Investor Relations Advisors (Formerly known as Minda Industries Uno Minda Ltd. Strategic Growth Advisors Pvt. Ltd. Ltd) Village Nawada Fatehpur, P.O. Mr. Ankur Modi Mr. Jigar Kavaiya Sikanderpur Badda, Head Cor