Slide 1: Minda Industries Ltd Investor Presentation – June 2020
1/4 Minda Industries Ltd Investor Presentation – June 2020
Slide 2: Safe Harbor
Safe Harbor 2 / 43 2/6 2/49 This presentation and the accompanying slides (the “Presentation”), has been prepared by Minda Industries Limited (the “Company”), solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, an
Slide 3: Quarterly Update Presentation
3 / 43 3/6 3/49 Quarterly Update Presentation
Slide 4: Impact of COVID-19
Impact of COVID-19 4 / 43 4/6 4/49 Supply Chain & Vendor Impact on Operations Financial Position Employees Management India Operations •Currently in comfortable liquidity •Suppliers and trade partners have •Most of our staff have been working •Suspended post lockdown announced position to meet its f
Slide 5: Safety Measures taken by the company
Safety Measures taken by the company 5 / 43 5/6 5/49 Temperature Checks at the Entrance Meetings by ensuring safe Sanitizing station defined before distancing and in small groups entry in Plant 1.5 m Social distancing marking die makers Increased the space between Canteen Area with Social distancing
Slide 6: Performance Highlights for the Q4 2020
Performance Highlights for the Q4 2020 6 / 43 6/6 6/49 Favourable Factors Un-Favourable Factors • Improved performance from leading 4W OEM’s in Lockdown due to COVID-19 Pandemic January and February 2020 . Lower capacity utilization due to weak demand Delvis has been consolidated for the full quarte
Slide 7: Consolidated Financial Highlights
Consolidated Financial Highlights 7 / 43 7/6 7/49 Revenue (Rs. Cr) EBITDA (Rs. Cr) -10% -34% 1,486 185 Adjusted EBIDTA 1,339 Adjusted growth 122 (7.2%) for Forex 68 *(40) Cr HBA (127 Cr.) restructuring 20 82 97 21 19 Q4 FY19 Q4 FY20 Q4 FY19 Q4 FY20 PBT Interest Depreciation PAT* (Rs. Cr) Margin (%)
Slide 8: Revenue Bridge – Q4 FY & FY20
Revenue Bridge – Q4 FY & FY20 8 / 43 8/6 8/49 1,486 Rs. Crs (43) (53) (43) (61) 1,339 (31) 29 Quarter 4 Q4 FY19 Switch Light Metal Light Horn Others Q4 FY20 Technology 5,908 (261) (127) 5,465 (70) (64) 79 12 Months FY19 Switch Light Metal Light Horn Others FY20 Technology
Slide 9: Business Review
Business Review 9 / 43 9/6 9/49 2W Switch: Secured orders from leading American OEMs Switches 01 4W : Mindarika to supply switches to Hyundai in Turkey and Indonesia All the plants are now operational 2W lamps –Lamps for TVS EV platform, LED lamps for Honda Dio Lighting 02 4W business has been award
Slide 10: Business wise Revenue Mix
Business wise Revenue Mix 10 /10/6 43 10/49 Revenue – Q4FY19 Revenue – Q4FY20 Others Others 13% 16% Switches 37% Switches 39% LMT 14% LMT 13% Acoustics Acoustics 12% 13% Lighting Lighting 23% 21%
Slide 11: Revenue Mix – Q4 FY20
Revenue Mix – Q4 FY20 11 /11/6 43 11/49 Geography-wise Breakup Channel-wise Breakup Segment -wise Breakup India International OEM Replacement 2Wheeler 4Wheeler 18% 13% 48% 52% 82% 87% Diversification across Categories and Geographies
Slide 12: Mergers & Acquisitions: Status Update
Mergers & Acquisitions: Status Update 12 /12/6 43 12/49 Acquisition completed on December 12, 2019. It has been consolidated for full DELVIS Acquisition quarter in Q4 2020 Harita Seating Sytems Merger NCLT final hearing is scheduled July 23, 2020. All approvals in place Merger of 4 WOS Completed. Re
Slide 13: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement 13 /13/6 43 13/49 Particulars (Rs. Cr) Q4 FY20 Q4 FY19 YoY % Q3 FY20 QoQ % Revenue from Operations (Net of Excise) 1,338.97 1,486.46 -10% 1,326.84 1% Raw Material 801.91 898.97 795.36 Employee Cost 214.37 202.52 208.88 Other Expenses 200.7 199.6 159.24 EBITDA 121
Slide 14: About Us
14 /14/6 43 14/49 About Us
Slide 15: UNO MINDA: A Leading Auto Components Player
UNO MINDA: A Leading Auto Components Player 15 /15/6 43 15/49 15/49 ₹ 72B 62 17 5 ($ 1.0 B) Joint Ventures/ Group Turnover (FY20) Plants Globally Associations Acquisitions 10+ 20+ 260+ 250+ R&D Centers Design Globally Product Lines Product Patents Registrations ₹ 75B *($ 1 B) 75+ 22000+ MIL Market C
Slide 16: Vision and Values
Vision and Values 16 /16/6 43 16/49 16/49 To be a Sustainable Global organization that enhances value for Customer is all its Stakeholders, attains Technology Supreme Live Quality Leadership and cares for its people like Encourage a Family. Creativity and Innovation to drive Respect for Respect for
Slide 17: UNOMINDA: Uniquely Positioned
UNOMINDA : Uniquely Positioned 17 /17/6 43 17/49 17/49 Long Standing Relationships with OEMs 6 Decades of Preferred Supplier status with Major OEMs across all segments Strategic Manufacturing Locations Located in all Automotive hubs in India, Growing Global Presence Strategic & Technology Driven All
Slide 18: The Leadership Team
The Leadership Team 18 /18/6 43 18/49 Board of Directors* Top Management Team Mr. Nirmal K Minda Mr. Anand K Minda Mr. Satish Sekhri Mr. Sunil Bohra Mr. Anand K Minda Mr. Rajiv Kapoor Mr. Pradeep Tiwari Chairman & Managing ED & Group CFO ED & CEO – Aftermarket ED & Group HR ED & CEO, EU and Americas
Slide 19: Strategy for Growth
Strategy for Growth 19 /19/6 43 19/49 Regulatory Norms Premiumization BS-VI expected implementation by Indian Automobile market is likely to 2020 will benefit UNO MINDA as it undergo premiumization of vehicles and ready with products which are likely UNO MINDA is Poised to strongly benefit. to see s
Slide 20: Mobility Change Drivers – Global and India
Mobility Change Drivers – Global and India 20 /20/6 43 20/49 GLOBAL INDIA COMFORT & SAFETY & CONNECTED AUTONOMOUS CONNECTED CONVINIENCE SECURITY GREEN SHARED MOBILITY ELECTRIC SHARED MOBILITY REGULATIONS TECHNOLOGY
Slide 21: Change Drivers - India
Change Drivers - India 21 /21/6 43 21/49 COMFORT & SAFETY & GREEN CONNECTED CONVINIENCE SECURITY SHARED MOBILITY REGULATIONS TECHNOLOGY Fleet Management, Larger Displays, Collision Warning & Car Sharing, Bike BS-6 : Emission Hybrid Electric Vehicle Apps, UBI Infotainment Avoidance Sharing, On Demand
Slide 22: Future Technology Areas for UNOMINDA
Future Technology Areas for UNOMINDA 22 /22/6 43 22/49 Body, Exterior and Safety Technologies Cockpit Electronics and Advanced Technologies Lighting Advanced Infotainment & Telematics Electric Vehicle Controllers Driver Assist Connectivity & IOT Technologies Power Management Distributed & Digital La
Slide 23: Engineering & Technology
Engineering & Technology 23 /23/6 43 23/49 Global Technical Centers 700 + 12 Product Engineers Engineering Centers 260+ Patents 75 + R&D 250+ Technology Projects Design Registrations Pune, India Munich, Germany Organization Embedded Electronics | Design Studio Embedded Electronics | Engineering Serv
Slide 24: Group Technical Center Overview
Group Technical Center Overview 24 /24/6 43 24/49 24/49 Center for Research, Engineering and Advance Technologies • Flagship Technology Center of UNO MINDA Group Hardware, Software & Testing Center of Excellence • Located in Pune • 145+ Engineers • Connectivity, Electrification, • Material Sciences,
Slide 25: Central Creative Design Studio
Central Creative Design Studio 25 /25/6 43 25/49 • UNO MINDA’s Central Design Studio Design Research Human Factors Vehicle Design • Located in Pune with state-of the art facilities, equipment and skills. • User study • Ergonomics • Vehicle Exterior • 25+ Creative Design Specialists • Usability analy
Slide 26: Pioneer in localization: Through JVs & Associations
Pioneer in localization: Through JVs & Associations 26 /26/6 43 26/49 We have partnered with global technology leaders in the respective product segments Panel & Control Switches Speakers Seatbelts Steering Wheels with Air Bags Acquisition Embedded Systems Gear Shifters Body Sealing Fuel Caps Hoses
Slide 27: Financials
27 /27/6 43 27/49 Financials
Slide 28: Consolidated Financial Highlights
Consolidated Financial Highlights 28 /28/6 43 28/49 Revenue (Rs. Cr) EBITDA (Rs. Cr) -7% -15% 5,908 5,465 Adjusted growth 725 Adjusted EBIDTA 619 (5.3%) for Forex 234 *(128) Cr HBA (626 Cr.) 63 302 restructuring 90 428 227 FY19 FY20 FY19 FY20 PBT Interest Depreciation PAT* (Rs. Cr) Margin (%) 12.27%
Slide 29: Business wise Revenue Mix
Business wise Revenue Mix 29 /29/6 43 29/49 Revenue – FY19 Revenue – FY20 Others Others 12% 14% Switches 39% Switches 37% LMT 15% LMT 14% Acoustics Acoustics 12% 12% Lighting Lighting 22% 23%
Slide 30: Revenue Mix – FY20
Revenue Mix – FY20 30 /30/6 43 30/49 Geography-wise Breakup Channel-wise Breakup Segment -wise Breakup India International OEM Replacement 2Wheeler 4Wheeler 13% 19% 49% 51% 81% 87% Diversification across Categories and Geographies
Slide 31: Strong Balance Sheet
Strong Balance Sheet: 31 /31/6 43 31/49 Building Shareholder Value year on year… Sales ROCE Adjusted ROCE* EBIDTA EBIDTA % 12.27% 20% 21% 11.94% 19% 19% 11% 11.33% 10% 4,471 5,908 5,465 534 725 619 FY18 FY19 FY20 FY18 FY19 FY20 FY18 FY19 FY20 Growth without stressing the Balance Sheet… Net Worth ROE
Slide 32: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement 32 /32/6 43 32/49 Particulars (Rs. Cr) FY20 FY19 YoY % Revenue from Operations (Net of Excise) 5,465.14 5,908.09 -7% Raw Material 3,284.14 3622.48 Employee Cost 846.77 791.29 Other Expenses 715.06 769.14 EBITDA 619.17 725.18 -15% EBITDA Margin 11.33% 12.27% (95)
Slide 33: Consolidated Balance Sheet
Consolidated Balance Sheet 33 /33/6 43 33/49 Assets As at 30-Mar-2020 As at 30-Mar-2019 EQUITY AND LIABILITIES As at 30-Mar-2020 As at 30-Mar-2019 1. Non Current Assets Equity Equity share capital 52.44 52.44 Property, Plant and Equipment 1,643.36 1,629.40 Other Equity 1,763.28 1,651.72 Capital Work
Slide 34: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement 34 /34/6 43 34/49 Particulars (Rs in Cr) As at 30-Mar-2020 As at 30-Mar-2019 PBT 252.24 454.68 Adjustments 414.76 298.11 Operating profit before working capital changes 667.00 752.79 Changes in working capital 409.31 -223.41 Cash generated from operations 1,076.31 52
Slide 35: Shareholding Pattern
Shareholding Pattern 35 /35/6 43 35/49 Corp Bodies / Corp Bodies / Others Retail Others Retail 5.1% 5.2% 6.5% 8.5% Insitutions 17.6% Institutions 15.5% Mar ‘19 Mar’20 Promoters Promoters 70.8% 70.8%
Slide 36: Business Overview
36 /36/6 43 36/49 Business Overview
Slide 37: Group product portfolio – 2 Wheeler
Group product portfolio – 2 Wheeler 37 /37/6 43 37/49 Horns Handle Bar Assemblies Sensors Combined Breaking system Filter/ Canisters Lamps Battery Switches 2 W Alloy Wheel Noise Suppresser Cap Equalizer Assembly Die Casting Brake Hoses Components
Slide 38: Kit Value – 2 Wheelers
Kit Value* – 2 Wheelers 38 /38/6 43 38/49 Values in INR 11,932 9,275 8,387 6,966 5,766 6,137 5,209 4,664 4,042 3,580 2019 2020 2019 2020 2019 2020 2019 2020 2019 2020 Economy Executive Premium Scooter Moped Up to 110 CC 110 -135 CC > 135 CC All scooters All Mopeds *Contribution from Group Companies
Slide 39: Group product portfolio – 4 Wheeler
Group product portfolio – 4 Wheeler 39 /39/6 43 39/49 Air Duct PWS Auto HVAC Controllers Headlamp levelling Spoiler motor Fuel cap Horns CNG Kit Speakers RPAS Batteries Alloy Wheel Electronic accelerator Air Filter LED lamps Hoses Steering Wheels with Air bags pedal module
Slide 40: Kit Value – 4 Wheeler PVs & Tractor
Kit Value* – 4 Wheeler PVs & Tractor 40 /40/6 43 40/49 Values in INR 1,40,788 80,934 58,528 58,389 50,452 44,545 43,596 25,924 3,450 6,873 2019 2020 2019 2020 2019 2020 2019 2020 2019 2020 A B C E & MUV Tractor Up to Rs. 2.2 Lacs Rs. 2.21 - 4.5 Lacs Rs. 4.5 - 8.3 Lacs >Rs 16 lacs Off Road *Contribut
Slide 41: Customer led and Customer Oriented: Customer Mix (FY 2020)
Customer led and Customer Oriented: Customer Mix ( FY 2020) 41 /41/6 43 41/49 Switching Systems Lighting Systems 4W 2W Bajaj 4W 2W Bajaj MSIL Auto Tata Others Auto 42% 30% Motors 18% 24% Others 29% 6% MSIL 32% Others TVS Others 35% 16% TVS Renault 41% 13% 12% Honda 3% HMSI HMSI TGMI TKML Toyota 9% y
Slide 42: Switching Systems
Switching Systems 42 /42/6 43 42/49 Rs. In Crs Indian’s Largest Manufacturer 12.6% 2600 11.9% 13.00% 2100 • World leader in 2W Switches by Volume. 9.9% 11.00% • 2W switches Market Share in India ~65% 1600 • Independent in-house R&D 9.00% • Exports to USA, France, Italy, Austria and others 1100 contr
Slide 43: Lighting Systems
Lighting Systems 43 /43/6 43 43/49 Rs. In Crs. Leading automotive lighting Systems 9.8% 10.2% 1350 11.00% • Strong R&D capabilities with Design centre in Taiwan 1300 7.7% 9.00% and Technical Arrangement with Korean Company 1250 7.00% • Exports to Italy, Indonesia, France, Japan and others 1200 5.00%
Slide 44: Acoustic Systems
Acoustic Systems 44 /44/6 43 44/49 One of India’s Largest Players in Horns Rs. In Crs 800 11.00% 9.4% • With 47% market share in India 700 10.00% • Strong in-house R&D capabilities 600 8.1% 9.00% 7.2% • Clarton Horn, a wholly owned subsidiary of MIL is 500 8.00% technology leader in Horns and No 2 i
Slide 45: Light Metal Technology
Light Metal Technology 45 /45/6 43 45/49 Products Revenue* Rs. In Crs 1000 28.5% Alloy Wheel 26.7% • Market Leader in PV segment with 45% market share ( 800 26.5% installation ) in India 23.2% 23.4% 600 24.5% • Kosei - Strong Technology Leader as JV partner • Moulding and Tooling Capability for high
Slide 46: Other Products
Other Products 46 /46/6 43 46/49 Products Revenue* Rs. In Crs 1000 10.1% 10.5% Other products 800 10.0% • Blow Molding • Sensors and Controllers 9.4% • Speakers & Infotainment 9.5% 600 • Fuel Caps 8.7% 646 9.0% 400 609 • Air Filtration System 532 8.5% • Hoses 200 • Batteries 8.0% 126 145 149 0 7.5%
Slide 47: MDSL: Strong Presence in Replacement Market
MDSL : Strong Presence in Replacement Market 47 /47/6 43 47/49 Over 50,000 FY20 % of total After Product (Rs. Crs) Jammu and Kashmir: 8 After Market Sales Market Sales Retail Points Himachal Pradesh: 24 Switches 182 33% Punjab: 26 Uttarakhand: 6 Haryana: 41 Lighting 179 32% Delhi: 33 Rajasthan: 51 U
Slide 48: Awards & Recognitions
Awards & Recognitions 48 /48/6 43 48/49 48/49 2019 2019 “Most Promising N K Minda - EY Company of the Year” Entrepreneur of the Indian Business Leader Year (Manufacturing Awards (CNBC TV18) Category) 2020 N K Minda - Best CEO Award (Emerging Category) by Business Today 2020 The Iconic Brand of India
Slide 49: Contact Us
Contact Us 49 /49/6 43 49/49 For further information, please contact: Company : Investor Relations Advisors : Minda Industries Ltd. Strategic Growth Advisors Pvt. Ltd. CIN : L74899DL1992PLC050333 CIN : U74140MH2010PTC204285 Mr. Tripurari Kumar Mr. Jigar Kavaiya GM Finance +91 99206 02034 tripurarik@