Rane (madras) Limited · NSE:RML
Rane (madras) — Q3 FY21 Earnings Presentation
35 slides from Rane (madras)'s earnings presentation, Feb 9, 2021
Slide 1: Stock exchange cover letter: Earnings Presentation
Rcgistcrccl Officc: Iel .91 44 2811 2472 " Maithri " URL ; www.ranegroup.conì 132, Catheclral Roarl, Chennai 600 086. lndia. CIN : Lti59931 N2004PLC052856 Rane (Madras) Limited // Online submission // RML/SE/63t2020-21 February 09,2021 BSE Limited National Stock Exchange of lndia Ltd. Listing Centre
Slide 2: Rane Group Earnings Presentation | Q3 FY21
Rane Group Earnings Presentation | Q3 FY21 F e b r u a r y 2 0 2 1 www.ranegroup.com Not to be copied or distributed without permission of Rane Holdings Limited 1
Slide 3: Outline
Outline › Industry Performance Review – Q3 FY21 › Rane Group Performance Review – Q3 FY21 › Group Companies Performance Highlights – Q3 FY21 Not to be copied or distributed without permission of Rane Holdings Limited 2
Slide 4: Industry Performance Review (Q3 FY21)
Industry Performance Review (Q3 FY21) Production YoY Rane Group Sales Growth Rane Group Revenue Vehicle Segment Growth# in % YoY in % (India OEM) Split * (India OEM) Passenger Cars (PC) 23% 20% 43% Utility Vehicles (MUV) 21% 12% 18% Vans 63% 39% 1% - Total Passenger Vehicle 23% 18% 62% Small Commerc
Slide 5: Outline
Outline › Industry Performance Review – Q3 FY21 › Rane Group Performance Review – Q3 FY21 › Group Companies Performance Highlights – Q3 FY21 Not to be copied or distributed without permission of Rane Holdings Limited 4
Slide 6: Group Aggregate Performance Review (Q3 FY21)
Group Aggregate Performance Review (Q3 FY21) Total Revenue (Rs cr.) EBITDA (Rs cr.) PBT* (Rs cr.) 10.9% 149.8 4.3% 1,368.4 8.2% 58.9 1,088.1 89.2 25.8% -1.4% 67.9% -15.7 Q3 FY2020 Q3 FY2021 Q3 FY2020 Q3 FY2021 Q3 FY2020 Q3 FY2021 * PBT includes Exceptional items › Total Revenue increased by 25.8% fr
Slide 7: RHL Consolidated Performance Review (Q3 FY21)
RHL Consolidated Performance Review (Q3 FY21) Total Revenue (Rs cr.) EBITDA (Rs cr.) PBT* (Rs cr.) 11.5% 9.6% 8.1% -0.9% * PBT includes net profit/loss from JV and Exceptional items › Total Revenue increased by 23.4% from Rs. 546 Cr in Q3 FY20 to Rs. 673.6 Cr in Q3 FY21 › EBITDA increased by 75.2% f
Slide 8: Group Aggregate Performance Review (YTD)
Group Aggregate Performance Review (YTD) Rs Cr 9M FY20 9M FY21# Total Revenue 3,428.5 2,755.3 EBITDA 266.9 173.9 EBITDA Margin 7.8% 6.3% PBT Before Exceptional Items 59.8 (19.6) Exceptional Income / (Expenses) (88.1) (47.4)* PBT (28.3) (67.0) PBT Margin -0.8% -2.4% PAT (21.4) (61.0) PAT Margin -0.6%
Slide 9: RHL Consolidated Performance Review (YTD)
RHL Consolidated Performance Review (YTD) Rs Cr 9M FY20 9M FY21# Total Revenue 1,681.2 1,391.7 EBITDA 129.7 81.8 EBITDA Margin 7.7% 5.9% PBT Before Share of profit/ (loss) of JV & Exceptional Items (2.7) (39.9) Share of profit/ (loss) of JV (Net of Exceptional items & (3.6) (11.4) Tax) Exceptional I
Slide 10: Outline
Outline › Industry Performance Review – Q3 FY21 › Rane Group Performance Review – Q3 FY21 › Group Companies Performance Highlights – Q3 FY21 Not to be copied or distributed without permission of Rane Holdings Limited 9
Slide 11: Rane (Madras) Ltd. (RML)
Rane (Madras) Ltd. (RML) Not to be copied or distributed without permission of Rane Holdings Limited 10
Slide 12: RML Standalone – Operational Performance Review
RML Standalone – Operational Performance Review Business Split (Q3 FY21) Market Environment By Market (%) › Strong demand across vehicle segments in Indian market India Intl OEM, 27 OEM&OES, 58 › Strong demand from International customers for Steering products › Robust demand in Indian Aftermarket s
Slide 13: RML Standalone – Financial Performance Review
RML Standalone – Financial Performance Review Total Revenue (Rs cr.) EBITDA (Rs cr.) PBT (Rs cr.) 12.7% 8.0% 8.8% 1.2% › Total Revenue increased by 42.3% from Rs. 280.2 Cr in Q3 FY 20 to Rs. 398.8 Cr in Q3 FY 21 – Sales to Indian OE customers grew by 37%. Experienced strong demand across vehicle seg
Slide 14: RML – Standalone Financials (YTD)
RML – Standalone Financials (YTD) Rs Cr 9M FY20 9M FY21# Total Revenue 859.8 780.8 EBITDA 74.3 67.6 EBITDA Margin 8.6% 8.7% PBT Before Exceptional Items 11.0 9.0 Exceptional Income / (Expenses) - - PBT 11.0 9.0 PBT Margin 1.3% 1.2% PAT 9.7 6.0 PAT Margin 1.1% 0.8% Total Comprehensive Income 8.9 8.6
Slide 15: RML Consolidated – Financial Performance Review
RML Consolidated – Financial Performance Review Total Revenue (Rs cr.) EBITDA (Rs cr.) PBT (Rs cr.) 9.0% 3.6% 5.7% -2.3% › Total Revenue increased by 35.8% from Rs. 320.5 Cr in Q3 FY20 to Rs. 435.2 Cr in Q3 FY21 – The US subsidiary experienced 13% drop in sales impacted by lower vehicle demand in US
Slide 16: RML – Consolidated Financials (YTD)
RML – Consolidated Financials (YTD) Rs Cr 9M FY20 9M FY21# Total Revenue 997.9 871.6 EBITDA 49.5 27.8 EBITDA Margin 5.0% 3.2% PBT Before Exceptional Items (26.9) (43.4) Exceptional Income / (Expenses) - - PBT (26.9) (43.4) PBT Margin -2.7% -5.0% PAT (28.2) (46.4) PAT Margin -2.8% -5.3% Total Compreh
Slide 17: Rane Engine Valve Ltd. (REVL)
Rane Engine Valve Ltd. (REVL) Not to be copied or distributed without permission of Rane Holdings Limited 16
Slide 18: REVL – Operational Performance Review
REVL – Operational Performance Review Business Split (Q3 FY21) Market Environment By Market (%) › Unserved market growth resulted in lower growth in Indian OE segment India Aftermarket, 6 › Lower offtake from International customers Intl OEM & Aftermarket, 27 India OEM&OES, 67 Operational Highlights
Slide 19: REVL – Financial Performance Review
REVL – Financial Performance Review Total Revenue (Rs cr.) EBITDA (Rs cr.) PBT* (Rs. cr.) 6.0% 23.2% 2.2% -9.2% * PBT includes Exceptional items › Total Revenue increased by 11.6% from Rs. 82.9 Cr in Q3 FY20 to Rs. 92.6 Cr in Q3 FY21 – Sales to Indian OE customers grew by 16%. – Sales to Internation
Slide 20: REVL – Financials (YTD)
REVL – Financials (YTD) Rs Cr 9M FY20 9M FY21# Total Revenue 281.6 206.5 EBITDA 9.6 (7.1) EBITDA Margin 3.4% -3.4% PBT Before Exceptional Items (19.8) (31.6) Exceptional Income / (Expenses) * - 22.7 PBT (19.8) (8.9) PBT Margin -7.0% -4.3% PAT (12.9) (5.6) PAT Margin -4.6% -2.7% Total Comprehensive I
Slide 21: Rane Brake Lining Ltd. (RBL)
Rane Brake Lining Ltd. (RBL) Not to be copied or distributed without permission of Rane Holdings Limited 20
Slide 22: RBL – Operational Performance Review
RBL – Operational Performance Review Business Split (Q3 FY21) Market Environment By Market (%) Intl OEM & After › Robust demand from Indian Auto industry Market, 5 India OEM&OES, › Strong recovery in Aftermarket demand barring from STUs/Bus operators 56 India Aftermarket, 39 Operational Highlights B
Slide 23: RBL – Financial Performance Review
RBL – Financial Performance Review Total Revenue (Rs cr.) EBITDA (Rs cr.) PBT (Rs cr.) 18.7% 14.3% 13.9% 9.2% › Total Revenue increased by 2.3% from Rs. 130.6 Cr in Q3 FY20 to Rs. 133.6 Cr in Q3 FY21 – Sales to OE customer grew by 7% – Sales to Aftermarket customers grew 3%. › EBITDA increased by 36
Slide 24: RBL – Financials (YTD)
RBL – Financials (YTD) Rs Cr 9M FY20 9M FY21# Total Revenue 361.6 282.4 EBITDA 49.2 43.9 EBITDA Margin 13.6% 15.6% PBT Before Exceptional Items 30.3 25.8 Exceptional Income / (Expenses) - - PBT 30.3 25.8 PBT Margin 8.4% 9.1% PAT 25.0 17.5 PAT Margin 6.9% 6.2% Total Comprehensive Income 24.4 17.8 # T
Slide 25: Rane TRW Steering Systems Pvt. Ltd. (RTSS)
Rane TRW Steering Systems Pvt. Ltd. (RTSS) Not to be copied or distributed without permission of Rane Holdings Limited 24
Slide 26: RTSS – Operational Performance Review
RTSS – Operational Performance Review Business Split (Q3 FY21) Market Environment By Market (%) › Steering business: Increase in share of business helped to post faster growth India OEM&OES, › Occupant Safety business: Better schedules from export customers helped mitigate Intl OEM, 34 61 lower grow
Slide 27: RTSS – Financial Performance Review
RTSS – Financial Performance Review Total Revenue (Rs cr.) EBITDA (Rs cr.) PBT (Rs cr.) 7.1% 11.5% 37.9 8.3% 3.4% 21.0 80.1% Q3 FY2020 Q3 FY2021 › Total Revenue increased by 30.3% from Rs. 252.6 Cr in Q3 FY20 to Rs. 329.1 Cr in Q3 FY21 – Revenue from steering gear products grew due to strong growth
Slide 28: RTSS – Financials (YTD)
RTSS – Financials (YTD) Rs Cr 9M FY20 9M FY21# Total Revenue 890.6 691.6 EBITDA 71.2 48.7 EBITDA Margin 8.0% 7.0% PBT Before Exceptional Items 32.4 10.1 Exceptional Income / (Expenses) - - PBT 32.4 10.1 PBT Margin 3.6% 1.5% PAT 25.0 7.5 PAT Margin 2.8% 1.1% Total Comprehensive Income 22.6 7.9 # The
Slide 29: Rane NSK Steering Systems Pvt. Ltd. (RNSS)
Rane NSK Steering Systems Pvt. Ltd. (RNSS) Not to be copied or distributed without permission of Rane Holdings Limited 28
Slide 30: RNSS – Operational Performance Review
RNSS – Operational Performance Review Business Split (Q3 FY21) Market Environment By Market (%) › Strong growth in Passenger Vehicle segment Intl OEM, 1 India OEM&OES, – Growth in smaller car segment higher than utility vehicle segment 99 Operational Highlights › Secured new business of Rs. 22 Cr p.
Slide 31: RNSS – Financial Performance Review
RNSS – Financial Performance Review Total Revenue (Rs cr.) EBITDA (Rs cr.) PBT* (Rs cr.) 11.5% 375.6 10.3% 297.3 26.4% -5.0% -6.7% Q3 FY2020 Q3 FY2021 * PBT includes Exceptional items › Total Revenue increased by 26.4% from Rs. 297.3 Cr in Q3 FY20 to Rs. 375.6 Cr in Q3 FY21 – Strong off take from th
Slide 32: RNSS – Financials (YTD)
RNSS – Financials (YTD) Rs Cr 9M FY20 9M FY21# Total Revenue 882.1 694.4 EBITDA 89.2 62.6 EBITDA Margin 10.1% 9.0% PBT Before Exceptional Items 47.6 23.3 Exceptional Income / (Expenses) * (88.1) (70.1) PBT (40.4) (46.8) PBT Margin -4.6% -6.7% PAT (27.2) (30.8) PAT Margin -3.1% -4.4% Total Comprehens
Slide 33: Thank You
Thank You Rane Corporate Centre For further information, please contact: “Maithri" 132, Cathedral Road, investorservices@ranegroup.com or dpingle@christensenir.com Chennai - 600 086, India www.ranegroup.com Not to be copied or distributed without permission of Rane Holdings Limited 32
Slide 34: Glossary of Abbreviations
Glossary of Abbreviations Abbreviation Expansion Abbreviation Expansion Bps Basis point, 100 bps equal to 1% OSD Occupant Safety Division EBITDA Earnings Before Interest, Tax, Depreciation and PAB Passenger Air Bag Amortization PAT Profit After Tax FT Farm Tractors PBT Profit Before Tax FY Financial
Slide 35: Disclaimer
Disclaimer This presentation may contain certain forward looking statements concerning Rane’s future business prospects and business profitability, which are subject to a number of risks and uncertainties and the actual results could materially differ from those in such forward looking statements. T