Ppap Automotive Limited · NSE:PPAP
Ppap Automotive — Q1 FY2018 Earnings Presentation
36 slides from Ppap Automotive's earnings presentation, 2017
Slide 1: PPAP Automotive Limited
PPAP Automotive Limited Taking Challenges, Together
Slide 2: Index
INDEX Quarterly Highlights Company Overview Core Strengths & Growth Strategy Our Products Facilities & Customers Awards Financial Overview 2
Slide 3: Quarterly Highlights
QUARTERLY HIGHLIGHTS 80.66 *Total Income 95.50 ₹ Crore 82.09 100.00 Highlights of results of Q1FY18 compared with Q1FY17 0.94 0.01 7.16 0.69 Total Income increase by 1.76% 5.33 70.00 Part Sales increase by 11% 12.17 EBITDA Margin increase by 4% 40.00 EBITDA increase by 27.8% PAT Margin inc
Slide 4: Index
INDEX Quarterly Highlights Company Overview Core Strengths & Growth Strategy Our Products Facilities & Customers Awards Financial Overview 4
Slide 5: Brief Profile and Management Profile
BRIEF PROFILE MANAGEMENT PROFILE Mr. Ajay Kumar Jain PPAP Automotive Limited (PPAP) is a leading manufacturer of Automotive Sealing Systems, Interior and Exterior Injection parts in India Chairman & Managing Director •Commerce graduate from the Shri Ram College of Commerce, University of Delhi •Asso
Slide 6: General Information
GENERAL INFORMATION SHARE HOLDING AS ON 30TH JUNE 2017 1.61 1.14 2.55 22.22 8.93 63.55 Promoters Bodies Corporate Individuals Foreign Companies Foreign Portfolio Investor (Corporate) Others 6
Slide 7: Company Focus
COMPANY FOCUS TO BE A DOMINANT SUPPLIER OF BODY SEALING, INTERIOR & EXTERIOR PARTS TO BE OUR CUSTOMERS' NO. 1 SUPPLIER TRUSTWORTHINESS MUTUAL RESPECT CREATIVITY COOPERATION EXCELLENCE FOUNDATION ON STRONG HUMAN CAPITAL DEVELOPMENT 7
Slide 8: Journey
JOURNEY 1978 1985 1989 1996 2002 •Company Incorporated •Start of the Automotive •Technological tie up with •Established Plant - I •Certification of TS 16949 Business Tokoi Kogyo Co., Japan (Noida) and ISO 140001 •Added Maruti Suzuki as •Added Honda Cars as customer customer 2007 2006 2005 2004 2003
Slide 9: Technology Partners
TECHNOLOGY PARTNERS NISSEN CHEMITEC CORPORATION, JAPAN Established: 1951 TOKAI KOGYO CO. LTD, JAPAN Global Presence: USA, Thailand, Indonesia, Established: 1947 Singapore Global Presence: USA, Thailand, Indonesia, China, Mexico, Vietnam AUTOMOTIVE EXTERIOR & SEALING PRODUCTS AUTOMOTIVE INTERIOR PROD
Slide 10: Index
INDEX Quarterly Highlights Company Overview Core Strengths & Growth Strategy Our Products Facilities & Customers Awards Financial Overview 10
Slide 11: Core Strengths
CORE STRENGTHS Leadership Position Strong Customer Base India’s leading Leading OEM manufacturer of manufacturers in Indian Automotive Sealing Market are customers Systems Access to Global Technology State-of-the-art manufacturing facilities Relationship with Focus on Kaizen towards Japanese Technol
Slide 12: Development Strategy
DEVELOPMENT STRATEGY 1 2 Improve Operational Efficiency Optmization of Asset Utilization • International Benchmarking Impossible for • Our Mantra - "Every Paisa Counts" • Improve margin realization driven • Improve OEE (Overall Equipment Efficiency) Competition to by cost optimization & operating le
Slide 13: Index
INDEX Quarterly Highlights Company Overview Core Strengths & Growth Strategy Our Products Facilities & Customers Awards Financial Overview 13
Slide 14: Product - Milestones
PRODUCT - MILESTONES 1989 – Start of technology partnership with Tokai Kogyo 2007 – Start of technology • Injection Molded Parts – partnership with Nissen Chemitech Interior, Exterior – Door 2016 Lining Assembly 2012 – Start of JV Company - PTI 2014 • Injection Molded Parts – Interior, Exterior & Un
Slide 15: Sealing Systems
SEALING SYSTEMS ROOF MOULDING TRIM DOOR OPENING BACK DOOR / TRUNK SEAL MOULDING WINDSHEILD DOOR OPENING SEAL AIR SPOILER GLASS RUN PVC CHANNEL TPO OUTER BELT SLIDE RAIL PRODUCTS MADE INNER BELT EPDM BLACK/BRIGHT BY PTI (JV) 15
Slide 16: Injection Molding Products
INJECTION MOLDING PRODUCTS CTR-PILLAR RR -PILLAR PARTITION REAR TRAY FR-PILLAR UNDER HOOD PRODUCTS LINING RR PANEL IN CABIN PRODUCTS SIDE PROTECTORS 16 SPLASH GUARD DOOR LINING FENDER INNER TRUNK LINING
Slide 17: Index
INDEX Quarterly Highlights Company Overview Core Strengths & Growth Strategy Our Products Facilities & Customers Awards Financial Overview 17
Slide 18: Business Share as on 30/06/2017
BUSINESS SHARE AS ON 30/06/2017 NISSAN OTHER TATA 9% S 3% 3% TKML 7% MSIL HCIL 51% 27% 19
Slide 19: Parts Developed by PPAP in Following Models
PARTS DEVELOPED BY PPAP IN FOLLOWING MODELS 19
Slide 20: Development Infrastructure
DEVELOPMENT INFRASTRUCTURE DESIGN TOOL MANUFACTURING VALIDATION • Product Design • Tool Design In House manufacturing of : • Checking Fixture Design Extrusion Parts - Dies & Tools Raw Material Testing • Design Validation Checking Fixtures Part Performance Testing • Special Purpose Machines Special P
Slide 21: Manufacturing Infrastructure
MANUFACTURING INFRASTRUCTURE PLASTIC EXTRUSION RUBBER EXTRUSION INJECTION MOLDING JV COMPANY – PPAP TOKAI INDIA RUBBER PRIVATE LIMITED 35 Machines PVC / TPO MATERIAL EPDM & TPV MATERIAL 2 locations 2 Locations; 10 Extrusion Lines 1 Kneader Mixing Plant (2nd Mixing) Range: 60 Tons – 2500 Tons 1 separ
Slide 22: Index
INDEX Quarterly Highlights Company Overview Core Strengths & Growth Strategy Our Products Facilities & Customers Awards Financial Overview 22
Slide 23: Customer Appreciation
CUSTOMER APPRECIATION ACCOLADES FOR 2017 23
Slide 24: Customer Appreciation
CUSTOMER APPRECIATION TOYOTA MOTOR CORPORATION HONDA CARS INDIA LIMITED 24 TOYOTA KIRLOSKAR MOTOR INDIA PVT LIMITED MARUTI SUZUKI INDIA LIMITED
Slide 25: Index
INDEX Quarterly Highlights Company Overview Core Strengths & Growth Strategy Our Products Facilities & Customers Awards Financial Overview 25
Slide 26: Summary
SUMMARY 22.00% 21.26% 90.00 19.13% 17.00% 15.23% 15.22% 70.00 In ₹ Crore 12.51% 12.00% 9.15% 8.71% 50.00 7.22% 7.00% 4.39% 80.66 95.50 82.09 30.00 2.00% Q1FY17 Q4FY17 Q1FY18 TOTAL INCOME EBITDA MARGIN EBIT MARGIN PAT MARGIN Q1FY18 and Q1FY17 results are IND AS based. Q4FY17 results are IGAAP based.
Slide 27: Total Income (Net of Excise)
Total Income (Net of Excise) (₹ crore) 100.00 80.66 95.50 82.09 0.94 7.16 0.01 0.69 5.33 12.17 70.00 40.00 68.48 87.41 76.08 10.00 Q1FY17 Q4FY17 Q1FY18 Parts Tools Others Q1FY18 and Q1FY17 results are IND AS based. Q4FY17 results are IGAAP based. 27
Slide 28: Major Expenses
Major Expenses (₹ crore) Materials Employee Benefits 43.80 47.53 40.01 14.41 14.26 12.58 49.77% 54.29% 15.09% 17.37% 48.74% 15.60% Q1FY17 Q4FY17 Q1FY18 Q1FY17 Q4FY17 Q1FY18 Other Expenses Depreciation 12.00 13.26 12.12 6.22 6.42 5.96 13.89% 14.88% 14.76% 6.51% 7.82% 7.39% Q1FY17 Q4FY17 Q1FY18 Q1FY17
Slide 29: Interest & Earnings
Interest & Earnings(₹ crore) Interest EBITDA 1.23 12.29 20.30 15.71 1.75 1.17 21.26% 2.17% 19.13% 1.23% 1.49% 15.23% Q1FY17 Q4FY17 Q1FY18 Q1FY17 Q4FY17 Q1FY18 EBIT Profit after Tax 7.02 14.53 10.27 3.54 8.74 5.93 9.15% 15.22% 7.22% 12.51% 8.71% 4.39% Q1FY17 Q4FY17 Q1FY18 Q1FY17 Q4FY17 Q1FY18 Q1FY18
Slide 30: EPS & Market Capitalization (BSE)
EPS & MARKET CAPITALIZATION(BSE) 11.32 17.08 18.76 6.24 4.23 2.53 Q1FY17 Q4FY17 Q1FY18 EPS TTM ₹ EPS ₹ 321.37 502.53 219.03 358.95 229.55 156.45 Q1FY17 Q4FY17 Q1FY18 Market Cap ( ₹ in crores) Share Price ₹ Q1FY18 and Q1FY17 results are IND AS based. Q4FY17 results are IGAAP based. 30
Slide 31: Financial Performance Snapshot (Previous 3 years)
FINANCIAL PERFORMANCE SNAPSHOT (Previous 3 years) ₹ Crs. Operating Income Fixed Assets (Gross Block) 306.64 320.88 349.62 318.50 302.75 342.70 3.18 1.81 0.21 0.45 19.20 0.15 2.33 30.44 18.38 16.69 35.12 7.81 283.23 292.61 310.45 289.74 302.05 327.24 FY 2015 FY 2016 FY 2017 FY 2015 FY 2016 FY 2017 Pa
Slide 32: Financial Performance Snapshot (Previous 3 years)
FINANCIAL PERFORMANCE SNAPSHOT (Previous 3 years) ₹ Crs. EBITDA 40.36 52.06 64.46 PAT 12.03 15.27 23.91 18.81% 17.20% 6.98% 12.67% 5.04% 3.78% FY 2015 FY 2016 FY 2017 FY 2015 FY 2016 FY 2017 PAT Margin EBITDA Margin Earning Per Share (₹) Market Capitalization (BSE) 126.14 218.40 321.40 235.60 8.59 1
Slide 33: Consolidated Financial Performance FY 2017
CONSOLIDATED FINANCIAL PERFORMANCE FY 2017 ₹ Crs. Operating Income Fixed Assets (Gross Block) 366.10 348.73 382.00 318.63 6.40 1.86 1.21 20.42 2.34 30.36 19.36 7.76 328.16 355.18 308.53 333.88 FY 2016 FY 2017 FY 2016 FY 2017 Parts Tools Others Tangilbe Asstes Intangible Assets CWIP Net Worth Debt 22
Slide 34: Consolidated Financial Performance FY 2017
CONSOLIDATED FINANCIAL PERFORMANCE FY 2017 ₹ Crs. EBITDA PAT 14.02 26.21 52.97 68.89 7.16% 18.82% 16.63% 4.40% FY 2016 FY 2017 FY 2016 PAT Margin FY 2017 EBITDA Margin Market Capitalization (BSE) Earning Per Share (₹) 126.14 218.40 321.40 10.02 18.72 235.60 229.57 185.00 135.01 156.00 122.10 90.10 8
Slide 35: Disclaimer
DISCLAIMER Certain statements in this communication may be ‘forward looking statements’ within the meaning of applicable laws and regulations. These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those s
Slide 36: Contact details
Mr. Manish Dhariwal (Chief Financial Officer) PPAP Automotive Limited Ph: +91-120-2462552 / 53 Email: manish.dhariwal@ppapco.com Mr. Parin Narichania / Ms. Ruchi Bhadra Concept Investor Relations Mo: +91 9930025733 / 9867637838 Email: parin@conceptir.com / ruchi.bhadra@conceptpr.com Website : www.pp