Ppap Automotive Limited · NSE:PPAP
Ppap Automotive — Q2 FY24 Earnings Presentation
43 slides from Ppap Automotive's earnings presentation, Nov 16, 2023
Slide 1: Exchange filing cover letter
16th November, 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 Inve
Slide 2: PPAP Automotive Limited – Investor presentation November 2023
PPAP Automotive Limited PPAP Automotive Limited TAKING CHALLENGES, TOGETHER Investor presentation – November 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: PPAP at a glance
PPAP at a glance 45+ 5 5 50 + 10+ Years of Legacy Diversified Business Diversified Diversified Electric Vehicle segments Technologies Customers Customer 10 2600 250 K 300+10 No. 1 + Pan India SKUs Parts SKUs Market Leader for Operating Facilities Shipped per day Shipped per day Under development Pla
Slide 5: Financial Highlights
Financial Highlights 7 A V/A
Slide 6: Management Commentary
Management Commentary Commenting on the results and performance for Q2 & H1FY24 “The quarter gone by witnessed a standalone topline growth of 13% YoY to Rs 140.5 crore. The growth is driven by higher sales especially towards new models. The automobile industry is facing mix bag performance in terms
Slide 7: Key Standalone Highlights – H1FY24
Key Standalone Highlights – H1FY24 Total Income • The overall performance is driven by attributable to higher sales towards new models Rs. 254.1 Cr. • The Parts contributed 94% of the total revenues while Tools & Others contributed 6% of the revenues • The capacity utilization stood at 80% EBITDA Rs
Slide 8: Key Highlights
Key Highlights INR Cr Revenue EBITDA PAT 140.5 13.2 2.7 12.5 2.5 124.2 111.4 7.4 -1.6 Q2FY23 Q1FY24 Q2FY24 Q2FY23 Q1FY24 Q2FY24 Q2FY23 Q1FY24 Q2FY24 7
Slide 9: Segmental Breakup
Segmental Breakup Q2FY23 Q2FY24 Q2FY24 2.5% 9.4% 2.0% 5.0% 14.0% 97.5% 90.6% 4.0% 52.0% Parts 4.0% 0.0% Tools & Others 1.0% H1FY23 H1FY24 8.0% 4.8% 6.4% 2.0% Maruti+SMG MG Motors Hyundai Renault + Nissan Tata Honda Kia Volkswagen+Skoda Mahindra Toyota 95.2% 93.6% 8
Slide 10: Standalone P&L – Q2 & H1 FY24
Standalone P&L – Q2 & H1 FY24 Particulars (INR Cr) Q2FY24 Q2FY23 Y-o-Y (%) Q1FY24 Q-o-Q (%) H1FY24 H1FY23 Y-o-Y (%) Revenue from operations 140.5 124.2 13.1% 111.4 26.1% 251.8 240.5 4.7% COGS 83.9 75.6 67.0 150.9 145.9 Gross Profit 56.6 48.6 16.4% 44.4 27.5% 101.0 94.6 6.7% Gross Profit Margin 40.3%
Slide 11: Standalone Balance Sheet
Standalone Balance Sheet Liabilities (INR Cr) Sep-23 Mar-23 Assets (INR Cr) Sep-23 Mar-23 Equity Non Current Assets Equity Share capital 14.0 14.0 Property, Plant and Equipment 287.7 292.6 Capital work-in-progress 16.0 8.9 Other Equity 303.6 302.5 Other Intangible Asset 6.6 7.5 Non Controlling Inter
Slide 12: Standalone Cash Flow
Standalone Cash Flow Particulars (INR Cr) Sep-23 Sep-22 Net Profit Before Tax 1.1 7.2 Adjustments for: Non Cash Items / Other Investment or Financial Items 20.5 17.8 Operating profit before working capital changes 21.6 25.0 Changes in working capital -4.8 -8.2 Cash generated from Operations 16.8 16.
Slide 13: Consolidated P&L – Q2 & H1 FY24
Consolidated P&L – Q2 & H1 FY24 Particulars (INR Cr) Q2FY24 Q2FY23 Y-o-Y (%) Q1FY24 Q-o-Q (%) H1FY24 H1FY23 Y-o-Y (%) FY23 Revenue from operations 148.4 128.5 15.5% 116.5 27.4% 264.9 251.7 5.2% 511.1 COGS 90.3 77.5 71.1 161.4 152.5 313.6 Gross Profit 58.1 51.0 13.8% 45.4 28.0% 103.4 99.3 4.2% 197.5
Slide 14: Consolidated Balance sheet
Consolidated Balance sheet Liabilities (NR Cr) Sep-23 Mar-23 Assets (NR Cr) Sep-23 Mar-23 Equity Non Current Assets Equity Share capital 14.0 14.0 Property, Plant and Equipment 304.2 309.7 Other Equity 278.6 280.7 Capital work-in-progress 16.0 9.0 Other Intangible Asset 7.3 8.3 Non Controlling Inter
Slide 15: Consolidated Cash Flow
Consolidated Cash Flow Particulars (INR Cr) Sep-23 Sep-22 Net Profit Before Tax -3.5 1.6 Adjustments for: Non Cash Items / Other Investment or Financial Items 22.8 24.4 Operating profit before working capital changes 19.3 26.0 Changes in working capital 3.5 3.4 Cash generated from Operations 22.8 29
Slide 16: Company Overview
Company Overview 7 A V/A
Slide 17: 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 18: Company Ethos
Company Ethos Mission Statement Vision Statement Our Values To be a global level excellence company, • Trustworthiness with an inspiring work culture, • Mutual Respect To be our customer’s • Creativity for serving our customers and our society, No. 1 supplier • Co-operation by exceeding the expectat
Slide 19: Journey Towards Excellence…
Journey Towards Excellence… 1990-2002 2008-2014 2018-2023 • 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 20: Business Overview
Business Overview Commercial Tool Business Industrial Product Business • Development of Plastic Injection tools up to • Extension of core competence of Plastic and Automotive Parts Business 1.5m * 1.0m Rubber processing to neighboring industries • Established in 2020 as a separate profit other than
Slide 21: Passenger Vehicle Products
Passenger Vehicle Products PPAP SUPPLY PTI SUPPLY GROWING PRESENCE IN ELECTRIC VEHICLES 20
Slide 22: Passenger Vehicle Products
Passenger Vehicle Products A /C Pillar Garnish with SUS applique 21
Slide 23: Two Wheeler Products
> Two Wheeler Products (CPAP) Molded Seat Base Shield, Cover Handle, Battery Pack for Fender Rear, Electric Vehicles Upper > & fo) a iin Fender Rear, “a Lower ~~ Air Connecting Tube : \Cover Leg, Shield Cover,Under 4 » | | Foot board’ y ' eR Injection Moulding Leg Shield . * y/ Shield Leg Lower -- U
Slide 24: Commercial Tool Room - Some Unique parts developed this FY
Commercial Tool Room - Some Unique parts developed this FY • PLASTIC INJECTION TOOLING • MULTI CAVITY • HIGH SPEED MACHINING • UPTO 1.8 meter LONG TOOL 23
Slide 25: Commercial Tool Room - Some Unique parts developed this FY
Commercial Tool Room - Some Unique parts developed this FY Reinforcement & FR, CTR & Glove- Box C Pillar Trim Parts RR Pillar Parts Segment: Automotive Segment: Automotive Segment: Automotive Uniqueness: Uniqueness: Uniqueness: • New Technology Tooling – 2K • High accuracy parts • Key Parts of Instr
Slide 26: Industrial Products
Industrial Products Plastic parts for Machines / Robots Plastic profiles for Construction Rubber profiles for Construction Plastic Storage Containers Sealing for containers Battery Packs for Storage 25
Slide 27: Battery Packs – Storage and Mobility
Battery Packs – Storage and Mobility AIS 156 Certified Battery Pack – 2 / 3 Wheeler application Solar back up application Customized mobility application Customized industrial application Energy storage application 26
Slide 28: After Market Products
After Market Products Spare Parts Distribution Network • 700 + products • 120 + distributors • Pan India Presence Car Accessories Shopelpis.com • Premium Car accessories • Interior • Phone holder • Rear tray • Charger sockets • Perfumes • Steering Covers • Range of self use cleaning products • Glass
Slide 29: Aftermarket Business at a Glance
Aftermarket Business at a Glance Addition from FY 22-24 Aftermarket Growth Strategies SKU’s Distributors 703 Business opportunity mapping in our segment 123 497 106 Continues Increase in part list 71 277 Increase in sales network - Distributor, Dealer, and Retailers up to Tier 2 FY22 FY23 FY24 FY22
Slide 30: Operating Locations Pan India Presence
Operating Locations Pan India Presence Note –Map not to scale. All data, information, and maps are provided “as is” without warranty or any representation of accuracy, timeliness or completeness.
Slide 31: Manufacturing Facilities
Manufacturing Facilities Plastic Extrusion Noida, UP PVC / TPO / PP/ SUS/ AL MATERIAL Greater Noida, UP • 4 Locations; 15 Extrusion Lines Chennai, TN • Bending technology, Welding technology, Chrome SUS extrusion and Notching technology Viramgam, GJ Rubber Extrusion EPDM & TPV MATERIAL Greater Noida
Slide 32: Esteemed Clientele
Esteemed Clientele Diversified mix • Passenger Vehicle OEMs • 2 Wheeler OEMs • Tier-1 of OEMs • Electric 2 wheeler OEMs • Electric cycle OEMs • Electric 3 wheeler OEMs • Electric Vehicle Charger maker • Electrical lighting maker • Agricultural products maker 31
Slide 33: Awards
Awards MARUTI SUZUKI TOYOTA MARUTI SUZUKI MACHINIST SUZUKI MOTORCYCLE 100+ AWARDS FROM CUSTOMERS 32
Slide 34: Sustainability Report, Global Rating And Awards
Sustainability Report, Global Rating And Awards 33
Slide 35: Sustainability Report, Global Rating And Awards
Sustainability Report, Global Rating And Awards Approach & Strategy 34
Slide 36: Historical Financials
Historical Financials 7 A V/A
Slide 37: Standalone P&L
Standalone P&L Particulars (INR Cr) FY23 FY22 FY21 Revenue from operations 492.3 409.1 321.2 COGS 300.8 247.1 182.6 Gross Profit 191.5 162.0 138.5 Gross Profit Margin 38.9% 39.6% 43.1% Employee Expenses 79.0 69.6 61.2 Other Expenses 66.9 53.3 43.6 EBITDA 45.6 39.0 33.7 EBITDA Margin 9.3% 9.5% 10.5%
Slide 38: Standalone Balance sheet
Standalone Balance sheet Liabilities (INR Cr) Mar-23 Mar-22 Mar-21 Assets (INR Cr) Mar-23 Mar-22 Mar-21 Equity Non Current Assets Property, Plant and Equipment 292.6 261.4 230.6 Equity Share capital 14.0 14.0 14.0 Capital work-in-progress 8.9 20.8 20.1 Other Equity 302.5 298.8 295.8 Other Intangible
Slide 39: Standalone Cash Flow
Standalone Cash Flow Particulars (INR Cr) Mar-23 Mar-22 Mar-21 Net Profit Before Tax 9.0 6.1 6.3 Adjustments for: Non Cash Items / Other Investment or Financial Items 36.5 31.5 27.0 Operating profit before working capital changes 45.5 37.6 33.3 Changes in working capital -3.9 6.3 -2.2 Cash generated
Slide 40: Consolidated P&L
Consolidated P&L Particulars (INR Cr) FY23 FY22 FY21 Revenue from operations 511.1 421.9 322.2 COGS 313.6 255.8 183.0 Gross Profit 197.5 166.1 139.2 Gross Profit Margin 38.6% 39.4% 43.2% Employee Expenses 82.9 72.2 62.2 Other Expenses 70.6 55.2 44.1 EBITDA 43.9 38.6 32.9 EBITDA Margin 8.6% 9.1% 10.2
Slide 41: Consolidated Balance sheet
Consolidated Balance sheet Liabilities (INR Cr) Mar-23 Mar-22 Mar-21 Assets (INR Cr) Mar-23 Mar-22 Mar-21 Equity Non Current Assets Equity Share capital 14.0 14.0 14.0 Property, Plant and Equipment 309.7 273.9 234.9 Other Equity 280.7 289.9 292.2 Capital work-in-progress 9.0 20.8 20.1 Other Intangib
Slide 42: Consolidated Cash Flow
Consolidated Cash Flow Particulars (INR Cr) Mar-23 Mar-22 Mar-21 Net Profit Before Tax -5.1 0.1 3.2 Adjustments for: Non Cash Items / Other Investment or Financial Items 49.3 37.7 28.6 Operating profit before working capital changes 44.2 37.8 31.9 Changes in working capital -11.2 -13.7 -4.4 Cash gen
Slide 43: 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