Ppap Automotive Limited · NSE:PPAP
Ppap Automotive — FY2023 Earnings Presentation
40 slides from Ppap Automotive's earnings presentation, May 19, 2023
Slide 1: Exchange filing cover letter
19th May, 2023 The Listing Department The Listing Department BSE Limited The National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, Dalal Street, Bandra Kurla Complex, Mumbai – 400001 Bandra (E), Mumbai - 400051 Symbol: 532934 Symbol: PPAP Subject: Analysts and Investors
Slide 2: PPAP Automotive Limited Investor presentation – May 2023
PPAP Automotive Limited PPAP Automotive Limited TAKING CHALLENGES, TOGETHER Investor presentation – May 2023
Slide 3: Safe Harbour
Safe Harbour This presentation and the accompanying slides (the “Presentation”), which have been prepared by PPAP Automotive 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 secu
Slide 4: Financial Highlights
Financial Highlights 7 A V/A
Slide 5: Key Highlights
Key Highlights FY23 Performance • The standalone revenue grew by 20.4% to Rs 492.3 crores against corresponding period last year on account of supplying parts to newer models across OEMs • The company witnessed an EBITDA growth of 16.7% to Rs 45.6 crores on a YoY basis due to improved capacity utili
Slide 6: Management Commentary
Management Commentary Commenting on the results and performance for Q4 & FY23, Mr. Ajay Kumar Jain, Chairman & MD of PPAP Automotive Ltd said: “FY23 is marked as the first normalized year post Covid, witnessing a significant rebound in the overall economy. We are delighted to report a revenue growth
Slide 7: Key Highlights - Standalone
Key Highlights - Standalone INR Cr Revenue EBITDA PAT +20% +17% 492.3 45.6 +48% 6.8 Performance 409.1 39.1 Yearly 4.6 FY22 FY23 FY22 FY23 FY22 FY23 Revenue EBITDA PAT +2% +19% +300% Performance 124.8 127.1 11.2 1.2 Quarterly 9.4 0.3 Q3FY23 Q4FY23 Q3FY23 Q4FY23 Q3FY23 Q4FY23 6
Slide 8: Segmental Breakup
Segmental Breakup 7.6% 6.3% FY22 Q4FY22 92.4% 93.7% 6.6% 5.6% FY23 Q4FY23 93.4% 94.4% Parts Tools & Others 7
Slide 9: Standalone P&L – Q4 & FY23
Standalone P&L – Q4 & FY23 Particulars (INR Cr) Q4 FY23 Q4 FY22 Y-o-Y (%) Q3 FY23 Q-o-Q (%) FY23 FY22 Y-o-Y (%) Revenue from operations 127.1 115.4 10.2% 124.8 1.9% 492.3 409.1 20.4% COGS 77.0 70.0 78.0 300.8 247.1 Gross Profit 50.1 45.4 10.3% 46.8 7.0% 191.5 162.0 18.2% Gross Profit Margin 39.4% 39
Slide 10: Standalone Balance Sheet
Standalone Balance Sheet Liabilities (INR Cr) Mar-23 Mar-22 Assets (INR Cr) Mar-23 Mar-22 Equity Non Current Assets Equity Share capital 14.0 14.0 Property, Plant and Equipment 292.6 261.4 Capital work-in-progress 8.9 20.8 Other Equity 302.5 298.8 Other Intangible Asset 0.9 1.1 Non Controlling Inter
Slide 11: Standalone Cash Flow
Standalone Cash Flow Particulars (INR Cr) Mar-23 Mar-22 Net Profit Before Tax 9.0 6.1 Adjustments for: Non Cash Items / Other Investment or Financial Items 36.5 32.5 Operating profit before working capital changes 45.5 38.7 Changes in working capital -3.9 5.2 Cash generated from Operations 41.6 43.9
Slide 12: Consolidated P&L – Q4 & FY23
Consolidated P&L – Q4 & FY23 Particulars (INR Cr) Q4 FY23 Q4 FY22 Y-o-Y (%) Q3 FY23 Q-o-Q (%) FY23 FY22 Y-o-Y (%) Revenue from operations 132.3 122.6 7.9% 127.1 4.1% 511.1 421.9 21.1% COGS 82.3 75.5 78.8 313.6 255.8 Gross Profit 49.9 47.1 6.0% 48.3 3.4% 197.5 166.1 18.9% Gross Profit Margin 37.8% 38
Slide 13: Consolidated Balance sheet
Consolidated Balance sheet Liabilities (NR Cr) Mar-23 Mar-22 Assets (NR Cr) Mar-23 Mar-22 Equity Non Current Assets Equity Share capital 14.0 14.0 Property, Plant and Equipment 309.7 273.9 Other Equity 280.7 289.9 Capital work-in-progress 9.0 20.8 Other Intangible Asset 8.3 8.8 Non Controlling Inter
Slide 14: Consolidated Cash Flow
Consolidated Cash Flow Particulars (INR Cr) Mar-23 Mar-22 Net Profit Before Tax -5.1 0.1 Adjustments for: Non Cash Items / Other Investment or Financial Items 49.0 37.7 Operating profit before working capital changes 43.8 37.8 Changes in working capital 3.4 -6.2 Cash generated from Operations 47.3 3
Slide 15: Company Overview
Company Overview 7 A V/A
Slide 16: Business – at a Glance
Business – at a Glance Automotive Parts Business • Core competence in developing Automotive Body Sealing systems and Interior and Exterior Injection molded parts. • All products are engine agnostic products • Enhancing per car contribution by adding more products and increasing the customer base in
Slide 17: Company Ethos
Company Ethos Vision Statement To be our customer’s No. 1 supplier Mission Statement Our Values To be a global level excellence company, with an inspiring work culture, • Trustworthiness for serving our customers and our society, • Mutual Respect by exceeding the expectations, • Creativity of all ou
Slide 18: Journey Towards Excellence…
Journey Towards Excellence… 1990-2002 2008-2014 2018-2020 • Established Plant - V (Vallam Vadgal) • Conversion of partnership • Listed on BSE and NSE and Plant VI (Ukhlod) firm to private company • Established Plant - III (Surajpur) and Plant - IV (Pathredi) • VW, Hyundai & Kia added as • Establishe
Slide 19: Board of Directors
Board of Directors Ajay Kumar Jain : Chairman & Managing Director Bhuwan Kumar Chaturvedi : Independent Director • B.E. (Mech.) from I.I.T. Roorkee and M.B.A. from IIM, Ahmedabad • Bachelor of Commerce from Shri Ram College of Commerce, Delhi University • Has a rich and diverse top management experi
Slide 20: Operating Locations…
Operating Locations… The Company’s state of the art manufacturing facilities are strategically located across the PVs automotive hubs in Northern, Southern and Western India JAMMU & KASHMIR LADAKH HIMACHAL PRADESH PUNJAB UTTARANCHAL HARYANA SIKKIM ARUNACHAL DELHI PRADESH UTTAR RAJASTHAN PRADESH ASSA
Slide 21: Manufacturing Facilities…
Manufacturing Facilities… Part & Tool Plastic Extrusion PVC / TPO / PP MATERIAL Design Manufacturing • 4 Locations; 15 Extrusion Lines • Bending technology, Welding technology, Chrome SUS extrusion and Notching technology Rubber Extrusion EPDM & TPV MATERIAL • 2 Locations; 3 EPDM extrusion lines, 1
Slide 22: Passenger Vehicle Products
Passenger Vehicle Products PPAP offers a diverse range of products that are applicable to both EV and non-EV vehicles SUN ROOF/ ROOF MOULDING DRAIN HOSE BACK DOOR MOULDING OPENING WINDSHIELD WAIST SEAL OUTER SLIDE RAIL CTR UPPER WEATHERSTRIP INNER AIR SPOILER GLASS RUN CHANNEL Hood Seal DAM WINDSHIE
Slide 23: Passenger Vehicle Products
Passenger Vehicle Products PPAP offers a diverse range of products that are applicable to both EV and non-EV vehicles REAR TRAY REAR PILLAR TAIL GATE Commercial Vehicle Product DOOR PARTITION DOOR MOULDING CABIN INSTRUMENT PANEL TRUNK LINING GRILLE LOWER LNG REAR PANEL FRONT BUMPER BODY SIDE MOULDIN
Slide 24: Two Wheeler Products
Two Wheeler Products PPAP offers a diverse range of products that are applicable to both EV and non-EV vehicles Molded Seat Base Fender Rear, Upper Shield, Leg Front Cover Handle, Front Fender Rear, Lower Air Connecting Tube Cover Leg, Shield Cover, Under Foot board Leg Shield Injection Moulding Shi
Slide 25: EV Components – High Growth Market
EV Components – High Growth Market PPAP intends to manufacture a variety of electric vehicle components in order to meet the growing demand for EVs Molded Seat Base Battery Pack for Shield, Leg Front Fender Rear, Upper Cover Handle, Front Electric Vehicles Fender Rear, Lower Air Connecting Tube Cove
Slide 26: Diversified Product Mix
Diversified Product Mix Plastic Injection Tools Battery Pack for Back up power Pail Containers Application : Solar Street Light Mobile Towers UPS Tonnage – Upto 850 Tons The battery packs are used in Containers for storing fertilizers, Size – 1500 (L) x 1000 (W) x 850 (H) multiple products for provi
Slide 27: Aftermarket – A Large Opportunity
Aftermarket – A Large Opportunity • The Company has ventured into development of parts and accessories for aftermarket. • The products are sold through the wholly owned subsidiary Elpis Components Distributors Private Limited • Currently, this segment contributes 3% of revenue and is expected to inc
Slide 28: Esteemed Clientele
Esteemed Clientele Passenger Vehicle Battery Packs – Two Wheeler Tooling EV Two Wheelers EV Customer Battery Packs – Storage System EV Customer Commercial Vehicle Pail Containers Note - The Brand Names mentioned are the property of their respective owners and are used here for identification purpose
Slide 29: Growth Roadmap – Explore, Expand & Excel
Growth Roadmap – Explore, Expand & Excel Strengthen and grow Automotive Parts business ▪ Development of value-added parts that will command higher prices and 01 contribute to higher margins ▪ Increase per car value for existing customers and continue to add new customers To Strengthen & Market Place
Slide 30: Why Trust PPAP… at a glance
Why Trust PPAP… at a glance 01 01 02 03 04 Continuous improvement Portfolio approach to Organic growth Sound financials giving of operational efficiency margin-rich blended complemented by adding headroom to fund its product mix new clients and geographies growth • Cost sensitive working • The Compa
Slide 31: ESG Initiatives
ESG Initiatives Environment • PPAP is dedicated to reducing the environmental footprint through an efficient and process-oriented approach • PPAP has been taking initiatives for reducing energy consumption and GHG emissions by installing rooftop solar and introducing various energy efficient technol
Slide 32: Robust Governance Framework
Robust Governance Framework Governance Board of Directors • PPAPs philosophy for governance aims to achieve the highest standards of corporate governance, accountability, sustainability and compliance of all the laws in the letter and spirit Committees • PPAP strongly believes that effective and goo
Slide 33: Historical Financials
Historical Financials 7 A V/A
Slide 34: Standalone P&L
Standalone P&L Particulars (INR Cr) FY23 FY22 FY21 FY20 Revenue from operations 492.3 409.1 321.2 360.0 COGS 300.8 247.1 182.6 195.9 Gross Profit 191.5 162.0 138.5 164.1 Gross Profit Margin 38.9% 39.6% 43.1% 45.6% Employee Expenses 79.0 69.6 61.2 66.1 Other Expenses 66.9 53.3 43.6 47.3 EBITDA 45.6 3
Slide 35: Standalone Balance sheet
Standalone Balance sheet Liabilities (INR Cr) Mar-23 Mar-22 Mar-21 Mar-20 Assets (INR Cr) Mar-23 Mar-22 Mar-21 Mar-20 Equity Non Current Assets Property, Plant and Equipment 292.6 261.4 230.6 221.7 Equity Share capital 14.0 14.0 14.0 14.0 Capital work-in-progress 8.9 20.8 20.1 7.9 Other Equity 302.5
Slide 36: Standalone Cash Flow
Standalone Cash Flow Particulars (INR Cr) Mar-23 Mar-22 Mar-21 Mar-20 Net Profit Before Tax 9.0 6.1 6.3 23.1 Adjustments for: Non Cash Items / Other Investment or Financial Items 36.5 31.5 27.0 27.8 Operating profit before working capital changes 45.5 38.7 33.3 50.9 Changes in working capital -3.9 5
Slide 37: Consolidated P&L
Consolidated P&L Particulars (INR Cr) FY23 FY22 FY21 FY20 Revenue from operations 511.1 421.9 322.2 359.5 COGS 313.6 255.8 183.0 195.2 Gross Profit 197.5 166.1 139.2 164.3 Gross Profit Margin 38.6% 39.4% 43.2% 45.7% Employee Expenses 82.9 72.2 62.2 66.2 Other Expenses 70.6 55.2 44.1 47.4 EBITDA 43.9
Slide 38: Consolidated Balance sheet
Consolidated Balance sheet Liabilities (INR Cr) Mar-23 Mar-22 Mar-21 Mar-20 Assets (INR Cr) Mar-23 Mar-22 Mar-21 Mar-20 Equity Non Current Assets Equity Share capital 14.0 14.0 14.0 14.0 Property, Plant and Equipment 309.7 273.9 234.9 221.7 Other Equity 280.7 289.9 292.2 289.2 Capital work-in-progre
Slide 39: Consolidated Cash Flow
Consolidated Cash Flow Particulars (INR Cr) Mar-23 Mar-22 Mar-21 Mar-20 Net Profit Before Tax -5.1 0.1 3.2 22.0 Adjustments for: Non Cash Items / Other Investment or Financial Items 49.0 37.7 28.6 28.7 Operating profit before working capital changes 43.8 37.8 31.9 50.7 Changes in working capital 3.4
Slide 40: For further information, please contact
For further information, please contact Company : Investor Relations Advisors : CIN: L74899DL1995PLC073281 CIN: U74140MH2010PTC204285 Ms. Pankhuri Agarwal Mr. Aakash Mehta / Mr. Rahul Agarwal investorservice@ppapco.com aakash.s.m@sgapl.net / rahul.agarwal@sgapl.net +91 98706 79263 / +91 98214 38864