Talbros Automotive Components Limited · NSE:TALBROAUTO
Talbros Automotive Components — H1 FY2024 Earnings Presentation
31 slides from Talbros Automotive Components's earnings presentation, November 2023
Slide 1: Q2 & H1 FY24 Investor Presentation
Q 2 & H1 F Y 2 4 I NV ESTOR P RESENTATI ON November 2023
Slide 2: Talbros Automotive Components Ltd (TACL) - Group
Talbros Automotive Components Ltd (TACL) - Group Product Portfolio Entities TACL Group Turnover*(Rs. Crs.) H1FY23 H1FY24 Gaskets & TACL Standalone 212 252 Heat Shields Nippon Leakless Talbros Pvt Ltd 47 49 Forgings TACL Standalone 105 132 H1FY23 H1FY24 501 616 Chassis 121 Marelli Talbros Chassis Sys
Slide 3: New Multi year orders worth over Rs. 1000 crores received
New Multi year orders worth over Rs. 1000 crores received TACL has received new multi years orders over Rs. 1,000 crores from both, domestic and overseas customers across its business divisions, product segments and JVs. These orders are to be executed over a period of next 5 years covering the comp
Slide 4: New Multi year orders worth over Rs. 400 crores received in July-23
New Multi year orders worth over Rs. 400 crores received in July-23 TACL has received new multi year orders worth ~400 crores from Domestic and Overseas Customers across its business divisions, product segments and JVs. These orders are to be executed over a period of next 5-7 years. These orders wi
Slide 5: Q2 & H1 FY24 Consolidated Performance Highlights
Q2 & H1 FY24 Consolidated Performance Highlights Total Income from Operations^ EBITDA^ Profit After Tax* 13.6% 15.6% 8.0% 10.2% +21% +39% +53% 196.6 30.8 20.0 Q2 FY24 162.2 22.1 13.1 Q2FY23 Q2FY24 Q2FY23 Q2FY24 Q2FY23 Q2FY24 13.5% 15.3% 7.9% 9.8% +21% +37% +50% 381.9 58.6 37.4 H1 FY24 316.9 42.9 25.
Slide 6: Q2FY24 Consolidated Performance Highlights
Q2FY24 Consolidated Performance Highlights Gasket & Heat Forgings MTCS NLT TMR Shield +22% +23% +17% +3% +68% 129.8 68.0 64.1 25.5 26.3 33.1 Revenues 55.5 54.8 106.7 19.7 Q2FY23 Q2FY24 Q2FY23 Q2FY24 Q2FY23 Q2FY24 Q2FY23 Q2FY24 Q2FY23 Q2FY24 +39% +55% +51% +13% +62% 20.4 11.6 8.7 6.6 1.6 5.8 EBITDA 1
Slide 7: H1FY24 Consolidated Performance Highlights
H1FY24 Consolidated Performance Highlights Gasket & Heat Forgings MTCS NLT TMR Shield +18% +26% +21% +3% +74% 251.6 131.5 120.8 47.5 49.1 63.1 Revenues 212.3 104.5 100.0 36.3 H1FY23 H1FY24 H1FY23 H1FY24 H1FY23 H1FY24 H1FY23 H1FY24 H1FY23 H1FY24 +28% +62% +52% +14% +143% 37.0 22.8 15.6 11.8 4.5 10.3
Slide 8: Across varied segments…
Across varied segments… 8% 11% 10% Domestic Breakup* 22% 21% 10% 26% 13% 11% 2 & 3 Wheelers Passenger Vehicle FY22 FY23 H1FY24 HCV & LCV Agri & Off Loaders 28% 25% 26% 28% Others 33% 28% 8% 8% 10% 5% 4% 3% Breakup (Type of OEM Market)* Exports 23% FY22 25% FY23 25% H1FY24 After Market 64% 63% 62% Ot
Slide 9: Strong Balance Sheet
Strong Balance Sheet Return on Capital Employed (RoCE) Return on Equity (RoE) Debt / Equity 19.3% 19.2% 0.29 16.3% 16.5% 16.3% 16.6% 0.24 0.19 FY22 FY23 H1FY24* FY22 FY23 H1FY24* Mar-22 Mar-23 Sep-23 RoE = PAT / Avg. Equity ; RoCE = EBIT / Avg. Capital Employed (Equity + Total Debt) *Annualized 9
Slide 10: Q2 & H1 FY24 Consolidated Profit & Loss Statement
Q2 & H1 FY24 Consolidated Profit & Loss Statement Particulars (Rs. Crores) Q2FY24 Q2FY23 Y-o-Y Q1FY24 Q-o-Q H1FY24 H1FY23 Y-o-Y Revenue from Operations 194.0 160.7 21% 182.8 6% 376.9 313.7 20% Other Income 2.6 1.4 2.5 5.1 3.1 Total Revenue from Operation 196.6 162.2 21% 185.3 6% 381.9 316.9 21% Raw
Slide 11: Consolidated Balance Sheet
Consolidated Balance Sheet ASSETS (Rs. Cr.) Sep-23 Mar-23 EQUITY AND LIABILITIES (Rs. Crs.) Sep-23 Mar-23 Non-current assets Equity Property, plant and equipment 178.4 168.0 Equity Share capital 12.3 12.3 Capital work in progress 8.0 4.8 Other equity 437.7 355.2 Investment property 2.7 2.8 Sharehold
Slide 12: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement Particulars (Rs. Crores) Sep-23 Sep-22 PBT 47.4 31.6 Adjustments 9.3 9.9 Operating profit before working capital changes 56.7 41.5 Changes in working capital -15.4 -26.0 Cash generated from operations 41.3 15.5 Direct taxes paid (net of refund) -9.8 -4.9 Net Cash fro
Slide 13: MDs Comments
MDs Comments Commenting on the performance Mr. Anuj Talwar, Jt. Managing Director, Talbros Automotive Components Limited said: “ First half of the fiscal year once again, for Talbros Automotive Components Limited, logged strong momentum in business growth and profitability over and above last years
Slide 14: Hedged Portfolio…
Hedged Portfolio… H1FY24 - Revenue Contribution Segments Product Portfolio Market Exposure TMR 6% ▪ 2 Wheelers ▪ Gaskets ▪ OEMs NLK 4% ▪ 3Wheelers ▪ Heat Shields ▪ After Market MTCS ▪ Passenger Vehicles ▪ Forgings ▪ Exports 12% ▪ Commercial Vehicles ▪ Chassis Systems ▪ Others Forgings ▪ Anti vibrati
Slide 15: Having Diversified Customer base - Top 10 Customers
Having Diversified Customer base - Top 10 Customers FY23 H1FY24 01 Maruti Suzuki India Limited 13% 01 Maruti Suzuki India Limited 14% 02 TATA Motors Limited 8% 02 TATA Motors Ltd 8% 03 Jaguar Land Rover Limited 7% 03 Jaguar Land Rover Limited 7% 04 Bajaj Auto 7% 04 Bajaj Auto 7% 05 TATA CUMMINS 6% 0
Slide 16: 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 segment 433 382 ▪ Single Source Supplier for 5 of our customers 333 265 287 ▪ Signed up exclusive contract with SANWA for Light Weight Aluminium Heat
Slide 17: 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 220 (Normalizing and Carbohydrizing) 204 166 170 ▪ Moving towards h
Slide 18: Strong Global Partnerships - Joint Ventures
Strong Global Partnerships - Joint Ventures Nippon Leakless Corporation (NLK) Marelli Talbros Chassis Systems Pvt Ltd (MTC) Talbros Marugo Rubber Pvt. Ltd. (TMR) ✓ Nippon Leakless Corporation (Japan) - One ✓ Magneti Marelli S.p.a (Milano) - A Fiat group ✓ Marugo Rubber Industries Ltd (Japan) - Globa
Slide 19: JV's Performance Highlights - Total Income from Operations
JV’s Performance Highlights - Total Income from Operations Nippon Leakless Talbros Marelli Talbros Chassis Systems Talbros Marugo Rubber 122.1 209.6 84.8 106.0 164.6 63.1 83.4 88.6 74.2 129.7 136.8 52.0 54.7 124.3 120.8 45.8 41.0 49.1 FY19 FY20 FY21 FY22 FY23 H1FY24 FY19 FY20 FY21 FY22 FY23 H1FY24 F
Slide 20: Venturing into EV / Increased Focus on EVs
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 21: Capex Plans - TACL
Capex Plans - TACL Addl. Capex to reach Utilization Levels (FY23) Revenues of FY27e Gasket & Heat Shield 85% Rs. 50 Crores To be funded by Internal Accruals Capex of Rs. 25-30 Crs. Forgings 77% Rs. 60 Crores per annum Marelli Talbros Chassis Systems* 73% Rs. 80 Crores (MTCS) These amounts will be fu
Slide 22: Talbros 2.0 – The Way Forward
Talbros 2.0 – The Way Forward Increased Export Increased Comfortable Debt Higher Returns Sales Margins Profile 25% in FY23e 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 23: 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 Shields
Slide 24: 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 25: 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 Anil Kumar Mehra Mr. Amit Burman
Slide 26: Executive Management
Executive Management Mr. Manish Khanna Mrs. Seema Narang Chief Financial Officer Company Secretary A Qualified CA and MBA, he has over 17 years of experience with LeeBoy India She has over 29 years of experience in the secretarial department and has worked with Constructions, Doosan Infracore, Escor
Slide 27: 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 28: 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 29: Hedged Customer Base
Diversified Customer - OEM 2 Wheeler Passenger Hedged Customer Base HCV/LCV Agri & Off Loader Agri & Off Loader 29
Slide 30: Customer Awards for Best Performances
Customer Awards for Best Performances ACMA Atmanirbhar Award from Jaguar Land Rover Award from Jaguar Land Rover Quality improvement JLKR-Q certificate-2021 Excellence Awards for Gasket Business 2022 for Forgings Business 2022 contest award – 2022 Kirloskar Oil Engines Ltd 2021 Quality improvement A
Slide 31: 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. Harsh Shah seema_narang@talbros.com deven.d
Talbros Automotive Components — H1 FY2024 Earnings Presentation on 6ix