Talbros Automotive Components Limited · NSE:TALBROAUTO
Talbros Automotive Components — H1 FY2025 Earnings Presentation
33 slides from Talbros Automotive Components's earnings presentation, Nov 14, 2024
Slide 1: Talbros Automotive Components Ltd. – Exchange Filing Cover Letter
talb r@3 Talbros Automotive Components Ltd. www.talbros.com 14" November, 2024 Listing Department Listing Department BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, Plot No. C/1, Dalal street G Block, Bandra Kurla Complex, Mumbai- 400 001 Bandra (East)
Slide 2: Q2 & H1 FY25 Investor Presentation
Q 2 & H1 F Y 2 5 I N V ESTOR P R ES EN TATI ON November 2024
Slide 3: Talbros Automotive Components Ltd (TACL) - Group
Talbros Automotive Components Ltd (TACL) - Group Product Portfolio Entities TACL Group Turnover*(Rs. Crs.) H1 FY24 H1 FY25 Gaskets & Heat TACL Standalone 252 277 Shields Forgings TACL Standalone 132 154 H1 FY24 H1 FY25 567 632 Chassis 136 Marelli Talbros Chassis Systems Pvt Ltd 121 + 11 % Components
Slide 4: Q2 & H1 FY25 Consolidated Performance Highlights
Q2 & H1 FY25 Consolidated Performance Highlights Total Income from Operations^ EBITDA^ Profit After Tax* 15.6% 16.9% 10.2% 10.6% +12% +21% +17% 220.2 37.3 23.4 196.6 20.0 Q2 FY25 30.8 Q2FY24 Q2FY25 Q2FY24 Q2FY25 Q2FY24 Q2FY25 15.3% 16.7% 9.8% 10.3% +12% +23% +18% 429.4 71.9 44.0 381.9 H1 FY25 58.6 3
Slide 5: Q2 FY25 Consolidated Performance Highlights
Q2 FY25 Consolidated Performance Highlights Gasket & Heat Forgings MTCS TMR Shield +11% +13% +5% 0% 144.2 77.1 64.0 67.2 33.2 33.2 Revenues 129.8 68.0 Q2FY24 Q2FY25 Q2FY24 Q2FY25 Q2FY24 Q2FY25 Q2FY24 Q2FY25 +25% +10% +21% +250% 25.6 12.8 10.4 5.6 11.6 EBITDA 20.4 8.6 1.6 Q2FY24 Q2FY25 Q2FY24 Q2FY25
Slide 6: H1 FY25 Consolidated Performance Highlights
H1 FY25 Consolidated Performance Highlights Gasket & Heat Forgings MTCS TMR Shield +10% +17% +13% +2% 276.9 153.6 136.3 63.1 64.5 Revenues 251.6 131.5 120.8 H1FY24 H1FY25 H1FY24 H1FY25 H1FY24 H1FY25 H1FY24 H1FY25 +26% +15% +29% +84% 46.8 26.2 20.2 8.3 22.8 EBITDA 37.0 15.6 4.5 H1FY24 H1FY25 H1FY24 H
Slide 7: Across varied segments…
Across varied segments… 11% 13% 14% Domestic Breakup* 19% 17% 22% 13% 2 & 3 Wheelers 10% 13% Passenger Vehicle FY23 FY24 H1 FY25 HCV & LCV Agri & Off Loaders 24% 34% Others 26% 28% 34% 22% 8% 9% 8% 4% 4% 3% Breakup (Type of OEM Market)* Exports 25% FY23 25% FY24 26% H1 FY25 After Market 63% 63% 63%
Slide 8: Strong Balance Sheet
Strong Balance Sheet Return on Capital Employed (RoCE) Return on Equity (RoE) Debt / Equity 20.4% 20.2% 0.24 19.8% 18.3% 16.5% 16.6% 0.16 0.14 FY23 FY24 H1 FY25 FY23 FY24 H1 FY25 Mar-23 Mar-24 Sep-24 RoE = PAT / Avg. Equity ; RoCE = EBIT / Avg. Capital Employed (Equity + Total Debt) (Excl proceeds f
Slide 9: New Multi year orders secured in FY24 and Apr-24
New Multi year orders secured in FY24 and Apr-24 Execution of Below Order Book to be implemented from FY25 July 2023 November 2023 April 2024 Received new multi year orders Received new multi years orders Received new multi years orders worth ~Rs 400 crores from worth ~Rs. 580 crores from both, wort
Slide 10: Q2 & H1 FY25 Consolidated Profit & Loss Statement
Q2 & H1 FY25 Consolidated Profit & Loss Statement Particulars (Rs. In crores) Q2 FY25 Q2 FY24 Y-o-Y Q1FY25 QoQ H1 FY25 H1 FY24 YoY Revenue from Operations 215.4 194.0 11% 204.3 5% 419.7 376.9 11% Other Income 4.8 2.6 4.9 9.7 5.1 Total revenue from Operation 220.2 196.6 12% 209.2 5% 429.4 381.9 12% R
Slide 11: Consolidated Balance Sheet
Consolidated Balance Sheet ASSETS Sep-24 Mar-24 EQUITY AND LIABILITIES Sep-24 Mar-24 Non-current assets Equity Property, plant and equipment 217.0 209.0 Equity Share capital 12.3 12.3 Other equity 582.9 524.8 Capital work in progress 19.7 7.3 Shareholders' funds 595.3 537.2 Investment property 2.5 2
Slide 12: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement Cash Flow Statement (Rs. Crs.) Sep-24 Sep-23 Net Profit Before Tax 56.4 47.4 Adjustments For: Non - Cash Items / Other Investment Or Financial Items 9.7 9.3 Operating Profit Before Working Capital Changes 66.1 56.7 Changes In Working Capital -13.7 -15.4 Cash Generate
Slide 13: Hedged Portfolio…
Hedged Portfolio… H1 FY25 - Revenue Contribution Heatshields Segments Product Portfolio Market Exposure 4% TMR ▪ Gaskets ▪ 2 Wheelers ▪ OEMs 6% ▪ Heat Shields ▪ 3Wheelers ▪ After Market MTCS 13% ▪ Passenger Vehicles ▪ Forgings ▪ Exports Forgings ▪ Commercial Vehicles ▪ Chassis Systems ▪ Others 28% ▪
Slide 14: Having Diversified Customer base - Top 10 Customers
Having Diversified Customer base - Top 10 Customers FY24 H1 FY25 01 Maruti Suzuki India 14% 01 Maruti Suzuki India 16% 02 TATA Motors 9% 02 TATA Motors 9% 03 Bajaj Auto 6% 03 Jaguar Land Rover 8% 04 Jaguar Land Rover 6% 04 Bajaj Auto 8% 05 TATA CUMMINS 6% 05 TATA CUMMINS 7% 06 HERO MOTOCORP 5% 06 BM
Slide 15: Gasket Business
Gasket Business ▪ ~50% Market share in Gaskets 3x the nearest competitor Total Income ▪ Market Leader in – Two-Wheeler, Agri & Off Loaders, HCV & LCV 515 segment 433 382 ▪ Single Source Supplier for 5 of our customers 265 287 277 ▪ Signed up exclusive contract with SANWA for Light Weight Aluminium H
Slide 16: Forgings Business
Forgings Business ▪ One stop solution for Hot Forging (750 to 2,500 Ton Press) Total Income ▪ Strong presence in Overseas Market & Supplier to Top Tier I companies ▪ One Stop Solution for Die Design, Machine parts and Heat treatment 277 (Normalizing and Carbohydrizing) 220 204 ▪ Moving towards heavi
Slide 17: Strong Global Partnerships - Joint Ventures
Strong Global Partnerships - Joint Ventures Marelli Talbros Chassis Systems Pvt Ltd (MTC) Talbros Marugo Rubber Pvt. Ltd. (TMR) ✓ Magneti Marelli S.p.a (Milano) - A Fiat group company with annual ✓ Marugo Rubber Industries Ltd (Japan) - Global leader in supply of revenue of over € 6 Bn Anti-Vibratio
Slide 18: Venturing into EV
Venturing into EV FORGINGS o Marelli Talbros is working on new RFQ’s for several Supplying parts for Plug-in hybrid Indian and global OEM’s for supporting Electric Vehicles to OEMs globally development of future EV’s o Marelli Talbros Supplies Critical Suspension Components to EV’s Increased Focus o
Slide 19: JV's Performance Highlights - Total Income from Operations
JV’s Performance Highlights - Total Income from Operations Marelli Talbros Chassis Systems Talbros Marugo Rubber 260.2 122.7 209.6 84.8 164.6 136.8 136.3 64.5 124.3 54.7 45.8 41.0 FY20 FY21 FY22 FY23 FY24 H1 FY25 FY20 FY21 FY22 FY23 FY24 H1 FY25 4% 45% 19% 75% 6% 51% OEM Exports Others OEM Exports O
Slide 20: Capex Plans - TACL
Capex Plans - TACL Addl. Capex to reach Utilization Levels (FY24) Revenues of FY27e Gasket & Heat Shield 85% Rs. 50 Crores To be funded by Internal Accruals Capex of Rs. 25-30 Crs. Forgings 80% Rs. 60 Crores per annum Marelli Talbros Chassis Systems* 75% Rs. 80 Crores These amounts will (MTCS) be fu
Slide 21: Talbros 2.0 – The Way Forward
Talbros 2.0 – The Way Forward Increased Export Increased Comfortable Debt Higher Returns Sales Margins Profile 25% in FY23 EBITDA Margins Total Debt to to increase from RoCE to increase to remain under ~14% to to 20% + going 35% + in ~15-16% by Rs. 100 ahead FY27e crores FY27e D R I V I N G F U T U
Slide 22: About Us
About Us Over 6 Decades of experience in Auto Component manufacturing Diversified Auto Component Player Across Two Wheelers, PVs, CVs Off -Highway and Farm Equipments One of the Electric Vehicles – Supply to EV’s (Major OEM’s globally) Most Hedged Diversified Product Portfolio – Gasket & Heat Shield
Slide 23: Leadership Team driving Growth & Profitability
Leadership Team driving Growth & Profitability Anuj Talwar – Joint Managing Director Is a Bachelor in Business Administration from college of William & Mary, Virgina, USA and Master of Business Administration from Boston University Graduate School of Management. He has been associated with the Compa
Slide 24: Strong Board of Directors
Strong Board of Directors Mr. Naresh Talwar Mr. Umesh Talwar Mr. Varun Talwar Mr. Anuj Talwar Mr. Navin Juneja Mr. Vidur Talwar Chairman Vice Chairman & MD Joint Managing Joint Managing Director & Group CFO Non-Executive Director Director Director Mr. Deepak Jain Mr Rakesh Vohra Mr. Rajat Verma Mr.
Slide 25: Executive Management
Executive Management Mr. Manish Khanna Mrs. Seema Narang Chief Financial Officer Company Secretary A Qualified CA and MBA, he has over 18 years of experience with LeeBoy India She has over 30 years of experience in the secretarial department and has worked with Constructions, Doosan Infracore, Escor
Slide 26: Scope of Joint Ventures
Scope of Joint Ventures Rear Twist Beam Axle Fuel Hose Strut Mount Steering Bush Front Cross Members Engine Mount Suspension Arms Bush Wheel Group + Corner Module Air Hose Control Arms Knuckles Exhaust Hanger MMT MMT TMR TMR Existing Business Planned for Future Existing Business Planned for Future 2
Slide 27: Evolving Product Portfolio
Evolving Product Portfolio JV with Marugo Evolution Rubber Continues... Revenue FY07 JV with Magneti Marelli Hoses Hoses TA with SANWA Anti Vibration Anti Vibration Gasket 100% Acquired Sheet Metal, Products Products Entry into Forgings, JV with NLK - Gaskets Chassis Systems Chassis Systems Chassis
Slide 28: Hedged Customer Base
Diversified Customer - OEM 2 Wheeler Passenger Hedged Customer Base HCV/LCV Agri & Off Loader Agri & Off Loader 27
Slide 29: Customer Awards for Best Performances
Customer Awards for Best Performances Appreciation Award for Response to New ACMA Atmanirbhar Award from Jaguar Land Rover Quality improvement Overall Performance to Product Development Excellence Awards for Gasket Business 2022 contest award – MTCS - 2023 2023 2022 Kirloskar Oil Engines Ltd 2021 JL
Slide 30: Historical Consolidated Profit & Loss Statement
Historical Consolidated Profit & Loss Statement Particulars (Rs. Crores) FY24 FY23 Revenue from Operations 778.3 647.2 Other Income 12.6 6.2 Total revenue from Operation 790.9 653.4 Raw Material 422.5 351.1 Employee Cost 81.1 70.7 Other Expenses 160.0 138.1 EBITDA 127.2 93.5 EBITDA Margin 16.1% 14.3
Slide 31: Historical Consolidated Balance Sheet
Historical Consolidated Balance Sheet ASSETS (Rs. Cr.) Mar-24 Mar-23 EQUITY AND LIABILITIES (Rs. Crs.) Mar-24 Mar-23 Non-current assets Equity Property, plant and equipment 209.0 168.0 Equity Share capital 12.3 12.3 Capital work in progress 7.3 4.8 Other equity 524.8 355.2 Investment property 2.7 2.
Slide 32: Historical Consolidated Cash Flow Statement
Historical Consolidated Cash Flow Statement Particulars (Rs. Crores) FY24 FY23 PBT 146.7 70.3 Adjustments -23.5 22.1 Operating profit before working capital changes 123.2 92.4 Changes in working capital -33.7 -20.5 Cash generated from operations 89.4 71.9 Direct taxes paid (net of refund) -22.7 -15.
Slide 33: THANK YOU !
THANK YOU ! For further information, please contact: Company : Investor Relations Advisors : Talbros Automotive Components Ltd. Strategic Growth Advisors Pvt. Ltd. CIN: L29199HR1956PLC033107 CIN: U74140MH2010PTC204285 Ms. Seema Narang Mr. Deven Dhruva/ Mr. Deep Hemani seema_narang@talbros.com deven.
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