Cie Automotive India Ltd · NSE:CIEINDIA
Cie Automotive India — Mahindra CIE Automotive — Q1 CY2020 Earnings Presentation
30 slides from Cie Automotive India's earnings presentation, Apr 23, 2020
Slide 1: Cover letter to stock exchanges
Mahindra CIE Automotive Ltd Mahindra Towers, 1st Floor, Dr. G. M. Bhosale Marg, Worli, Mumbai 400 018, India Tel: +91 22 24931449 Fax: +91 22 24915890 www.mahindracie.com mcie.investors@ cie-india.com 23rd April, 2020 BSE Limited National Stock Exchange of India Limited Corporate Relationship Depart
Slide 2: Q1 CY2020 Results
Q1 CY2020 Results 23rd April 2020│ Mumbai 1
Slide 3: Disclaimer
Disclaimer Mahindra CIE Automotive Limited, herein referred to as MCAL provides a wide array of presentations and reports, with the - contributions of various professionals. These presentations and reports are for informational purposes and private circulation only and do not constitute a prospectus
Slide 4: Index
INDEX 1. BACKGROUND 2. Q1 CY2020 RESULTS 3. MARKET & FORECASTS 4. COVID-19 IMPACT 5. SEBI RESULTS 3
Slide 5: 1. Background
G CIE Automotive 4 Mahindra CIlE
Slide 6: MCIE Overview
MCIE OVERVIEW BACKGROUND MVML (M&M Subsidiary) and Promoter Group 11.44% — Mahindra ClE <— CIE through it’s subsidiaries 56.28% 100% 100% 100% 100% 100% BF Precision Bill Forge de Aurangabad Stokes CIE Galfor ore 6 S.A Private Mexico S de Electricals Group _ Limited RL de CV Limited Limited* 100% 10
Slide 7: Key Highlights of the Quarter
KEY HIGHLIGHTS OF THE QUARTER BACKGROUND • MCIE India plants shut from March 23rd 2020 due to the fight against COVID-19 virus in accordance with directions from the state governments where they are located • Metalcastello (Italy) was also closed from March 23rd 2020 as per orders of the Italian gov
Slide 8: 2. Q1 CY2020 Results
2. Q1 CY2020 RESULTS 7
Slide 9: MCIE India Q CY Results
MCIE INDIA Q 1 C Y 2 0 2 0 R E S U LT S Financial Update Market Update (Production) (INR Mio) Jan-Mar Change Jan-Mar Oct-Dec Jan-Mar 2020 Jan-Mar 2020 2020 2019 2019 v/s v/s Jan-Mar 2019 Oct-Dec 2019 Sales 7,440 -5% 7,840 8,269 (without Excise) Pass Cars -18.4% 3.2% EBITDA (*) 970 -25% 1,296 1,040 L
Slide 10: MCIE Europe Q CY Results
MCIE EUROPE Q 1 C Y 2 0 2 0 R E S U LT S Financial Update Market Update (Production) (INR Mio) Jan-Mar Change Jan-Mar Oct-Dec 2020 2019 2019 Source: IHS Global Sales 8,593 -33% 12,844 8,361 Jan-Mar 2020 Jan-Mar 2020 (without Excise) v/s v/s Jan-Mar 2019 Oct-Dec 2019 EBITDA (*) 901 -46% 1,677 1,068 P
Slide 11: MCIE Consolidated Q CY Results
MCIE CONSOLIDATED Q 1 C Y 2 0 2 0 R E S U LT S (INR Mio) Jan-Mar 2020 Change Jan-Mar 2019 Oct-Dec 2019 Sales 16,034 -22% 20,684 16,632 (without Excise) EBITDA (*) 1,871 -37% 2,974 2,109 EBITDA% 11.7% 14.4% 12.7% EBIT (*) 1,056 -53% 2,233 1,321 EBIT % 6.6% 10.8% 7.9% EBT 455 -79% 2,130 1,215 EBT% 2.8
Slide 12: Other Details
OTHER DETAILS OTHER OPERATING REVENUE, OTHER INCOME AND EXCHANGE RATES For Q1 CY20 (INR Mio) India Europe Consolidated Other Operating Revenue 379 214 593 Other Income 35 13 48 Exchange Rates Period INR/ Euro Average for Q1 CY20 80.01 Average for Q4 CY19 78.77 As on 31 Mar’ 2020 82.38 11
Slide 13: 3. Market Forecasts
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Slide 14: Market Outlook - India
MARKET OUTLOOK - INDIA • Passenger Vehicles ₋ Light Vehicles (less than 6 Tons – European Classification) Short Term: IHS forecasts growth at a –24.7% between CY2019-CY 2020 Long term: IHS forecasts growth at a CAGR of 9.6% over a period of 2020-2025 “CRISIL Research expects domestic PV sales to dec
Slide 15: Market Outlook - Europe
MARKET OUTLOOK - EUROPE • EU – Light Vehicles: ‒ IHS Global has forecasted that the Passenger Vehicle production will decline in CY20 by 24.4% ‒ But will grow at a pace of 5.5% CAGR between C20 to C25 • EU – MHCV’s: ‒ IHS Global has forecasted that the Western and Central Europe MHCV sales will decl
Slide 16: 4. COVID-19 Impact
G CIE Automotive 1s Mahindra Cle
Slide 17: Measures Against COVID-19 at Our Plants
MEASURES AGAINST COVID-19 AT OUR PLANTS MEASURES ✓ A humanitarian crisis first, an economic disaster later ✓ Employees provided with masks and sanitizers while working at the plants, with periodic sanitizing of workspaces ✓ Manufacturing Operations shutdown in last fortnight of March 2020, as per ap
Slide 18: Managing the Impact on Business
MANAGING THE IMPACT ON BUSINESS I M PA C T ✓ Toughest situation in years • Problem on both supply and demand side – customers can't buy, and manufactures can't make. Will take time to correct ✓ Uncertainty in near future • April sales will be close to zero in all regions • May and June still uncerta
Slide 19: MCIE Is in a Secure Position
MCIE IS IN A SECURE POSITION, OPTIMISTIC AND WILL EMERGE STRONGER POSITION ✓ Completely focused on managing a complex problem • Capex being reviewed and only the most urgent and important will be approved • Inventory being drawn down • Outsourced activities being reviewed for insourcing • Overtime b
Slide 20: 5. SEBI Results
5. SEBI RESULTS 19
Slide 21: Statement of Profit & Loss Accounts - Consolidated
S TAT E M E N T O F P R O F I T & L O S S A C C O U N T S - C O N S O L I D AT E D STATEM ENT OF STANDALONE AND CONSOLIDATED UNAUDITED RESULTS FOR THE QUARTER ENDED M ARCH 31, 2020. Rs. in M illion CONSOLIDATED Quarter Ended Year Ended Partic ulars M arc h 31, 2020 Dec ember 31, 2019 M arc h 31, 201
Slide 22: Statement of Profit & Loss Accounts - Consolidated Cont'd
S TAT E M E N T O F P R O F I T & L O S S A C C O U N T S - C O N S O L I D AT E D C O N T ’ D . STATEM ENT O F STANDALO NE AND CO NSO LIDATED UNAUDITED RESULTS FO R THE Q UARTER ENDED M ARCH 31, 2020. Rs. in M illion CONSOLIDATED Q uarter Ended Year Ended Partic ulars M arc h 31, 2020 Dec ember 31,
Slide 23: Statement of Profit & Loss Accounts - Standalone
S TAT E M E N T O F P R O F I T & L O S S A C C O U N T S - S TA N D A L O N E STATEM ENT OF STANDALONE AND CONSOLIDATED UNAUDITED RESULTS FOR THE QUARTER ENDED M ARCH 31, 2020. Rs. In M illion STANDALONE Quarter Ended Year Ended M arch 31, 2020 December 31, 2019 M arch 31, 2019 December 31, 2019 Pa
Slide 24: Statement of Profit & Loss Accounts - Standalone Cont'd
S TAT E M E N T O F P R O F I T & L O S S A C C O U N T S - S TA N D A L O N E C O N T ’ D . . STATEM ENT OF STANDALONE AND CONSOLIDATED UNAUDITED RESULTS FOR THE QUARTER ENDED M ARCH 31, 2020. Rs. In M illion STANDALONE Quarter Ended Year Ended M arc h 31, 2020 Dec ember 31, 2019 M arc h 31, 2019 D
Slide 25: Segment Revenue Results
S E G M E N T R E V E N U E R E S U LT S All Companies within the M ahindra CIE Group belong to the same business segment (Automotive) and two geographical segments, India and Europe as presented below: Rs. in M illion CONSOLIDATED Q uarter Ended Year Ended M arc h 31, 2020 Dec ember 31, 2019 M arc
Slide 26: Notes
STATEM ENT OF STANDALONE AND CONSOLIDATED UNAUDITED RESULTS FOR THE QUARTER ENDED M ARCH 31, 2020. NOTES Notes: 1 The statement has been prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2015 (Ind AS) prescribed under Section 133 of the Companies Act, 2013 and other reco
Slide 27: Notes Cont'd
NOTES CONT’D… Notes: 5 During the year 2019, Bill Forge Private Limited was amalgamated with the Company with an appointed date of April 1, 2018 under a Scheme of Amalgamation approved by the Hon'ble NCLT Mumbai vide order dated November 4, 2019 and effective date November 15, 2019 (being the date o
Slide 28: Notes Cont'd
NOTES CONT’D… Notes: 9 The subsidiaries and associate companies forming part of consolidated financial results of Mahindra CIE Automotive Limited (MCIE) are listed in "Annexure A" annexed herewith the statement. 10 The Consolidated and Standalone results for the quarter ended December 31, 2019 are t
Slide 29: Annexure A - Subsidiaries and Associate Companies
NOTES CONT’D… STATEM ENT OF STANDALONE AND CONSOLIDATED UNAUDITED RESULTS FOR THE QUARTER ENDED M ARCH 31, 2020. Annexure A - Subsidiaries forming part of the M ahindra CIE Automotive Limited (M CIE) Group and its Associate Companies S. No. Name of the entity Relationship % of Holding Country of Inc
Slide 30: Mahindra CIE
Mahindra ClE
Mahindra CIE Automotive — Q1 CY2020 Earnings Presentation on 6ix