CIE Automotive India Ltd · NSE:CIEINDIA
CIE Automotive India — Mahindra CIE Automotive — Q3 FY16 Earnings Presentation
32 slides from CIE Automotive India's earnings presentation, Feb 22, 2016
Slide 1: Update Q3FY16 / 9 months CY15
Update Q3FY16/ 9 months CY15 Mahindra CIE Automotive 22 Feb 2016 │ Mumbai 1
Slide 2: Mahindra CIE: Overview
Mahindra CIE: Overview Listed on the Indian Stock Exchanges viz. NSE/BSE; 323 Million Shares CIE Automotive Ltd, Spain 53.2% (CIE’s holds this through PIA2 of Spain) Mahindra CIE Automotive Ltd, India Forgings India (Original Mahindra CIE) MVML^ + 21.7% Foundry India (formerly M Hinoday) 25.1% Publi
Slide 3: Mahindra CIE: Products (Forgings)
Mahindra CIE : Products Technology: Forgings Vertical: MCIE India Product Specialisation: Crankshafts & Steering Knuckles – Forged & Machined (All Ferrous) Segment Focus: Cars & UVs Vertical: Mahindra Forgings Europe [MFE] (Germany + UK) Product Specialisation: Front Axle Beams, Steel Pistons, Pitma
Slide 4: Mahindra CIE: Products (Gears, Composites)
Mahindra CIE : Products Technology: Gears Vertical: MCIE India Product Specialisation: Engine Gears, Timing Gears, Transmission Gears, Transmission Drive Shafts Segment Focus: Tractors, Uvs, LCVs, Exports Vertical: Metalcastello [MC] (Italy) Product Specialisation: Engine Gears, Transmission Drive s
Slide 5: Mahindra CIE: Products (Stampings, Foundry, Magnetics)
Mahindra CIE: Products Technology: Stampings Vertical: MCIE India Product Specialisation: Body –In-White & Sheet Metal Assembly Parts Segment Focus: UVs, LCVs Technology: Foundry Vertical: MCIE India Product Specialisation: Turbocharger Housings, Axle & Transmission Parts [All SG Iron] Segment Focus
Slide 6: Mahindra CIE: Technologies
Mahindra CIE : Technologies 9 Months CY15 Consolidated Revenue: INR 38,612 Mn / EUR 539 Mn Magnetics Composites 2.5% 1.5% Castings, 7.5% Gears, 9.5% Stampings, 12.5% Forgings, : INR 13,085 mn 66.5% : INR 25,527 mn 6
Slide 7: Mahindra CIE: Locations
Mahindra CIE: Locations Germany + UK Spain + Lithuania (Mahindra Forgings Europe) (CIE Forgings) Revenue Distribution* 32% 35% 6% 27% India Italy (Metalcastello) * For FY 15 7
Slide 8: Mahindra CIE: Business Overview and Concentration
Mahindra CIE : Business Overview India Europe Germany + UK Italy Spain + Lithuania Others Others, Cars, 14% Truck 11% 14% Other, 17% Key Segments Off- 15% Truck, Road, 4% 16% Cars, 4% MHCV 10% UV's, 33% Earth Moving Agri Cars, LCV's, , 25% Truck M/c, 83% 16% 85% 53% Exports Out of India Out of Europ
Slide 9: Key Highlights - CY 2015
Key Highlights - CY 2015 New India: Stampings New Products Plant at • Forging: Balancer Shaft Zaheerabad • Foundry: Gear Carrier, Bearing Carrier, Turbo Manifold • Stampings: Assembled Cabin, Cargo Body, Fuel Tank, Lower control arm and Semi Trailing Arm Strategy Highlights: • New Stampings plant at
Slide 10: India Market - Trends
India Market - Trends Growth in all segments lower than expected in the last two years Market - Production Numbers Cars + UV’s CV’s Tractors 3,500,000 900000 800000 800000 700000 3,000,000 700000 600000 2,500,000 600000 500000 2,000,000 500000 400000 1,500,000 400000 300000 300000 1,000,000 200000 2
Slide 11: India Market Update – CY15
India Market Update – CY15 Cars+ UVs, CVs: Improving; Tractors : Remains a Concern Market - Production Numbers Cars + Utility Vehicles Commercial Vehicles Tractors Period 2015 2014 Change 2015 2014 Change 2015 2014 Change CY 3,19,235 2,989,793 6.8% 747,681 682,666 9.5% 557,150 667,623 -16.5% Apr - D
Slide 12: Key Customer Update
Key Customer Update Our key customers have shown flat growth Production Numbers for Key Customers (Mahindra & Mahindra + Tata Motors) Period 2015 2014 Change CY 1,183,291 1,214,425 -2.6% Apr-Dec 882,216 888,890 -0.8% Oct-Dec 288,647 280,119 3.0% Jul-Sep 300,596 310,132 -3.1% Apr-Jun 292,973 298,639
Slide 13: Indian Market - Forecast
Indian Market - Forecast Outlook • Cars+ UVs: “Growth in the domestic passenger vehicle industry is expected to accelerate to 9-11% in 2015-16 vis a vis a subdued 3.8% growth in 2014-15 and a flat (-0.4%) compound annual growth rate (CAGR) over the past 4 years. In 2016-17, we expect demand for pass
Slide 14: European Market - Trends
European Market - Trends Growth has returned but only marginally Passenger Vehicles Commercial Vehicles Tractor and Agri Machinery Europe Europe Germany Production (Mn Units) Registration (Mn Units) Revenues (Bn Euro) 25 3.00 9 8 2.50 20 7 2.00 6 15 5 1.50 4 10 1.00 3 5 2 0.50 1 0 0.00 0 Source: VDM
Slide 15: Europe Market Update - Quarterly
Europe Market Update - Quarterly Low single digit growth for Pass Vehicles and Comm Vehicles in CY15 Production Numbers Passenger Vehicles (Mn Units) Commercial Vehicles (>6T) Period 2015 2014 Change Period 2015 2014 Change CY 20.69 19.84 4.3% CY 564,668 552,621 2.2% Apr-Dec 15.32 14.68 4.3% Apr-Dec
Slide 16: EU Market - Forecast
EU Market - Forecast Outlook • EU – Automotive Market: “For 2016 ACEA anticipates a much more modest sales increase for both passenger cars and commercial vehicles. We expect car sales to go up by around 2%, reaching roughly 14 million units.” – ACEA Press Release 21 Jan 2016 • EU – Cars: ‒ “We also
Slide 17: Note on method of tracking Europe CV Market
Note on method of tracking Europe CV Market Explanation of the change in presentation of CV market data Europe CV Market Data presented earlier Data presented in this presentation Registrations (source: ACEA) Production (source: IHS) Period Units Change Period Units Change Q4 CY15 560,848 13.0% Q4 C
Slide 18: Mahindra CIE Strategy: Status Update (1/2)
Mahindra CIE Strategy: Status Update (1/2) Strategy remains unchanged from what was stated in May 2015 INDIA – Forgings, Stampings, Foundry, Magnetic Products, Gears and Composites Market Outlook Strategy Status Our Key Customers • Continue vigil on costs in face • Focus on cost management has helpe
Slide 19: Mahindra CIE Strategy: Status Update (2/2)
Mahindra CIE Strategy: Status Update (2/2) Strategy remains unchanged from what was stated in May 2015 EUROPE – CV Forgings, Car Forgings, Gears Market Outlook Strategy Status European CVs are • Phase 1: Focus on cost • Phase 1 completed in Dec’14 expected to show reduction through a • Phase 2 Restr
Slide 20: Q3 F16 Performance
Q3 F16 Performance Standalone Consolidated Subsidiaries Parameter Oct.- Oct.- Change Oct.- Oct.- Change Oct.- Oct.- Change Dec. 15 Dec. 14 Dec. 15 Dec. 14 Dec. 15 Dec. 14 Revenue 3,965 3,782 4.8% 12,679 12,542 1.1% 8,714 8,760 -0.5% EBITDA 283 280 0.9% 1012 1198 -15.6% 729 918 -20.6% EBITDA% 7.1% 7.
Slide 21: 9 months CY15 (Apr-Dec'15) Performance
9 months CY15 (Apr-Dec’15) Performance Standalone Consolidated Subsidiaries Parameter Apr-Dec. Apr-Dec. Change Apr-Dec. Apr-Dec. Change Apr-Dec. Apr-Dec. Change 15 14 15 14 15 14 Revenue 12,036 12,285 -2.0% 38,612 39,139 -1.3% 26,576 26,854 -1.0% EBITDA 1008 1078 -6.5% 3780 3520 7.4% 2772 2442 13.5%
Slide 22: Balance Sheet as on 31-Dec-15
Balance Sheet as on 31-Dec-15 Standalone Consolidated Particulars 31-Dec-15 31-Mar-15 31-Dec-15 31-Mar-15 SHAREHOLDERS' FUNDS 23,462 23,085 20,107 19,020 Non- Current Liabilities 821 686 10,834 16,978 Current Liabilities 3,406 3,581 20,992 13,841 Total Equity and Liabilities 27,689 27,352 51,934 49,
Slide 23: Financial Performance – Summary
Financial Performance – Summary − Q3F16 vs. Q3F15 Standalone - Revenue Growth: 4.8%, Change in EBITDA% : -0.3% Subsidiaries – Revenue Growth: -0.5%, Change in EBITDA%* - 2.1% Consolidated - Revenue Growth : 1.1%, Change in EBITDA%* - 1.6% − Apr-Dec’15 vs. Apr-Dec ‘14 Standalone - Revenue Growth:
Slide 24: Mahindra CIE: Differentiators
Mahindra CIE: Differentiators Adoption of CIE Business Model differentiates Mahindra CIE CIE Automotive : 9months CY15 (Jan – Sept’15) Results Note: 1.Extracted from CIE’s Mid Term Financial Report, 30-Sept-2015 2. Nos. reported on this page are as per IFRS . MCIE reporting (elsewhere in the present
Slide 25: Annexure: Results Declared to SEBI
Annexure : Results Declared to SEBI 25
Slide 26: SEBI - Results
SEBI - Results MAHINDRA CIE AUTOMOTIVE LIMITED Regd. Office : M ahindra Towers, P.K. Kurne Chowk, Worli, M umbai - 400 018. CIN: L27100M H1999PLC121285 Tel: +91 2135 663300 Fax: +91 2135 663407 Website: www.mahindra-cie.com E-mail: mcie.investors@mahindra.com “STATEMENT OF STANDALONE & CONSOLIDATED
Slide 27: SEBI - Results
SEBI - Results MAHINDRA CIE AUTOMOTIVE LIMITED Regd. Office : M ahindra Towers, P.K. Kurne Chowk, Worli, M umbai - 400 018. CIN: L27100M H1999PLC121285 Tel: +91 2135 663300 Fax: +91 2135 663407 Website: www.mahindra-cie.com E-mail: mcie.investors@mahindra.com “STATEMENT OF STANDALONE & CONSOLIDATED
Slide 28: SEBI - Results
M AHINDRA CIE AUTOM OTIVE LIM ITED Regd. Office : M ahindra Towers, P.K. Kurne Chowk, Worli, M umbai - 400 018. SEBI - Results CIN: L27100M H1999PLC121285 Tel: +91 2135 663300 Fax: +91 2135 663407 Website: www.mahindra-cie.com E-mail: mcie.investors@mahindra.com STATEMENT OF STANDALONE & CONSOLIDATE
Slide 29: SEBI - Results
SEBI - Results M AHINDRA CIE AUTOM OTIVE LIM ITED Regd. Office : M ahindra Towers, P.K. Kurne Chowk, Worli, M umbai - 400 018. CIN: L27100M H1999PLC121285 Tel: +91 2135 663300 Fax: +91 2135 663407 Website: www.mahindra-cie.com E-mail: mcie.investors@mahindra.com Segment wise Revenue, Results and Cap
Slide 30: SEBI - Results (Notes)
SEBI - Results MAHINDRA CIE AUTOMOTIVE LIMITED Regd. Office : Mahindra Towers, P.K. Kurne Chowk, Worli, Mumbai - 400 018. CIN: L27100MH1999PLC121285 Tel: +91 2135 663300 Fax: +91 2135 663407 Website: www.mahindra-cie.com E-mail: mcie.investors@mahindra.com “STATEMENT OF STANDALONE & CONSOLIDATED AUD
Slide 31: Thank you
Thank you visit us at mahindracie.com BSE: 532756 NSE: MAHINDCIE ISIN: INE536H01010 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 info
Slide 32: Mahindra Cle
Mahindra Cle
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