Ppap Automotive Limited · NSE:PPAP
Ppap Automotive — Q3 FY25 Earnings Presentation
45 slides from Ppap Automotive's earnings presentation, Feb 10, 2025
Slide 1: Exchange filing cover letter
10th February, 2025 The Listing Department The Listing Department BSE Limited The National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, Dalal Street, Bandra Kurla Complex, Mumbai – 400001 Bandra (E), Mumbai - 400051 Symbol: 532934 Symbol: PPAP Subject: Analysts and Inve
Slide 2: PPAP Automotive Limited – Investor Presentation February 2025
PPAP Automotive Limited PPAP Automotive Limited Let’s Grow Together INVESTOR PRESENTATION – February 2025
Slide 3: Safe Harbour
Safe Harbour This presentation and the accompanying slides (the “Presentation”), which have been prepared by PPAP Automotive Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any secu
Slide 4: PPAP at a Glance
PPAP at a Glance 45+ 5 50+ Years Of Legacy Varied Technologies Diversified Customers No. 1 Market Leader in 5 2,600+ 5+ Plastic sealing systems Business Segments No. of SKUs Electric Vehicles 10 225k 250+ Pan-India Operating SKUs Under Parts Shipped Per Day Facilities Development 3
Slide 5: Q3 & 9M FY25 Highlights
Q3 & 9M FY25 Highlights 4
Slide 6: Management Commentary
Management Commentary Commenting on the results and performance for Q3 & 9MFY25, Mr. Ajay Kumar Jain, Chairman & MD of PPAP Automotive Ltd said: “We are pleased to report a stronger consolidated financial performance for Q3 and 9M FY25, demonstrating a sustained growth momentum. Revenue in Q3FY25 gr
Slide 7: Industry Highlights
Industry Highlights 1 • Total Domestic Passenger vehicle sales increased by 1.8% to 31.4 lakh units in 9MFY25 compared to 9MFY24, there was a notable increase of 12.6% in utility vehicle sales Passenger Vehicles • Out of the Passenger vehicles, Passenger cars sales declined by 15.4% in 9MFY25 vs 9MF
Slide 8: Key Operational Highlights – 9MFY25
Key Operational Highlights – 9MFY25 Order book stands at lifetime value of ₹192.8 crore Initiated export of Aftersales products 150+ new products launched in Aftermarket 73% Capacity Utilization Started supplying auto components for MG Windsor and Honda AMAZE 7
Slide 9: Standalone Performance Highlights Q3 and 9M FY25
Standalone Performance Highlights Q3 and 9M FY25 (INR Cr) Revenue Operating EBIDTA PAT 2.4% 11.1% 3.3 9.1% 15 135.3 119.7 10.9 0.2% 0.2 Q3FY24 Q3FY25 Q3FY24 Q3FY25 Q3 FY24 Q3FY25 Revenue Operating EBIDTA PAT 11.4% 2.6% 371.6 395.3 44.9 10.3 8.5% 31.5 0.4% 1.3 9MFY24 9MFY25 9MFY24 9M FY25 9M FY24 9M
Slide 10: Consolidated Performance Highlights Q3 and 9M FY25
Consolidated Performance Highlights Q3 and 9M FY25 (INR Cr) Revenue Operating EBIDTA PAT 10% 139.2 8% 14 122.4 1.2% 9.8 1.6 -2.2% Q3FY24 Q3FY25 Q3FY24 Q3FY25 -2.7 Q3 FY24 Q3 FY25 Revenue Operating EBIDTA PAT 10.4% 1.1% 387.2 406.8 42.2 4.6 7.3% 28.2 -1.3% 9MFY24 9MFY25 9M FY24 9M FY25 -4.9 9M FY24 9
Slide 11: Consistent Growth in EBITDA & PAT Margins - Standalone
Consistent Growth in EBITDA & PAT Margins At Record High - Standalone (INR Cr) 22 12.7% 14. 0% 11.1% 10.1% 12. 0% 9.4% 9.4% 17 9.1% 18 10. 0% 12 15 13 12 8.0 % 12 7 11 6.0 % 4.0 % 2 2.0 % -3 Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 0.0 % EBITDA EBITDA Margin(%) 8 6 1.9% 0.2% 4 -4.5% 2 0 1 3 6
Slide 12: Consistent Growth in EBITDA & PAT Margins - Consolidated
Consistent Growth in EBITDA & PAT Margins At Record High - Consolidated (INR Cr) 11.3% 19 12. 0% 9.6% 17 10.0% 10. 0% 15 8.2% 8.5% 16 8.0% 14 13 8.0 % 12 12 11 9 12 10 6.0 % 7 4.0 % 5 3 2.0 % 1 Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 -1 0.0 % EBITDA EBITDA Margin(%) 4 0.4% -2.2% 0.1% 2.0% 1.
Slide 13: Segmental Revenue Breakup
Segmental Revenue Breakup 9MFY24 9MFY25 Revenue Mix by Client for 9MFY25 12.0% 6.0% 9% 6.0% 37.0% 11.0% 3.0% 3.0% 94.0% 91% 10.0% 3.0% 15.0% Maruti Tata Honda Parts Tools & Others SMG MG Motors Toyota Hyundai Renault + Nissan others 12
Slide 14: Standalone Profit and Loss Statement
Standalone Profit and Loss Statement Particulars (INR Cr) Q3FY25 Q3FY24 Y-o-Y (%) Q2FY25 Q-o-Q (%) 9MFY25 9MFY24 Y-o-Y (%) Revenue from operations 135.3 119.7 13.0% 141.3 -4.2% 395.3 371.6 6.4% Comments: COGS 77.3 70.1 79.7 224.1 221.0 Revenue at ₹395.3 Cr, +6.4% YoY, supported by a strong order p
Slide 15: Consolidated Profit and Loss Statement
Consolidated Profit and Loss Statement Particulars (INR Cr) Q3FY25 Q3FY24 Y-o-Y (%) Q2FY25 Q-o-Q (%) 9MFY25 9MFY24 Y-o-Y (%) Revenue from operations 139.2 122.4 13.8% 144.9 -3.9% 406.8 387.2 5.1% COGS 79.7 71.5 81.8 230.9 232.9 Gross Profit 59.5 50.9 17.1% 63.0 -5.5% 175.9 154.3 14.0% Gross Profit M
Slide 16: Way Forward
Way Forward 15
Slide 17: Strategic Priorities
Strategic Priorities Automotive Parts Business: • Focus on increasing content per vehicle through development of value-added products that will command higher margins • Timely execution of a robust order book over next 5 years • To increase exports which has commenced to USA and further, exploring f
Slide 18: Guidance and Roadmap to Margin Expansion
Guidance and Roadmap to Margin Expansion Growth Drivers for Margin Expansion FY24 FY25E FY26E Sweating of Existing Assets and New Investments Revenue Rs 523 Cr Rs 550 to 575 Cr Rs 600 to 660 Cr Softening of Raw Material Prices EBITDA Rs 40 Cr Rs 60 to 65 Cr Rs 75 to 80 Cr Improving Material Yield Ra
Slide 19: Company Overview
Company Overview 18
Slide 20: Journey Towards Excellence
Journey Towards Excellence 2023-2024 1978 – 1990 2002 – 2007 o Listed on BSE and 2015 – 2016 NSE o Established Plant - III o Established Plant - V (Surajpur) and Plant - (Vallam Vadgal) and o Conversion of IV (Pathredi) Plant VI (Ukhlod) partnership firm to o M&M, Renault Nissan o VW, Hyundai & Kia
Slide 21: Manufacturing Facilities
Manufacturing Facilities Noida, UP Plastic Extrusion Greater Noida, UP PVC / TPO / PP MATERIAL Chennai, TN Viramgam, GJ • 4 Locations; 15 Extrusion Lines • Bending technology, Welding technology, Chrome SUS extrusion and Notching technology Rubber Extrusion Noida, UP EPDM & TPV MATERIAL Greater Noid
Slide 22: Operating Locations Pan India Presence
Operating Locations Pan India Presence Note –Map not to scale. All data, information, and maps are provided “as is” without warranty or any representation of accuracy, timeliness or completeness. 21
Slide 23: Product Portfolio – 4W Parts
Product Portfolio – 4W Parts 22
Slide 24: Product Portfolio – 4W Parts
Product Portfolio – 4W Parts 23
Slide 25: Product Portfolio – 2W/3W Parts
Product Portfolio – 2W/3W Parts 24
Slide 26: Esteemed Clientele
Esteemed Clientele Passenger Vehicle Commercial Wheeler Vehicle Two- V Non Automotive Energy Storage Solutions Content per vehicle for Key OEMs Up to INR 3000 UP TO INR 6000 UP TO INR 5000 UP TO INR 8000 UP TO INR 2500 25
Slide 27: Business Segments
Business Segments Commercial Tool Industrial Products Li-on Battery Automotive Parts Aftermarket Room Business Business Core competence in developing Development of Plastic Injection Extension of core competence of 100% owned subsidiary of PPAP Development and sales of spare Automotive Bod
Slide 28: Business Segments – Commercial Tool Room
Business Segments – Commercial Tool Room Key Highlights Glove Box State of the art Manufacturing facility for development of global level plastic injection molds Capacity to make mold up to 1.8 mtr Develop of molds for Automotive, Electrical, White Goods and Medical sector Reinforcement & C Pi
Slide 29: Business Segment – Industrial Product
Business Segment – Industrial Product Key Highlights Plastic Extrusion Leveraging the use of existing plastic and rubber extrusion along with injection molding Started Export during last quarter 70+ product developed, 10+ under development Focus on developing the Sealings, Gaskets, Hoses and
Slide 30: Business Segments – Li-on Battery
Business Segments – Li-on Battery Key Highlights E2W/E3W Battery Pack State of art assembly facility AIS 156 Certified Battery Pack – 2 / 3 Wheeler application Leveraging the growth of Electric Vehicles, Solar Energy, Energy Storage systems Launched more than 10 products since launch Desig
Slide 31: Business Segments – Aftermarket
Business Segments – Aftermarket Key Highlights 1200+ SKUs Focus on expanding the domestic network as well as international market currently available under the categories of Started export in quarter 3 Interior and Exterior Accessories and Parts Launched 550+ more products in aftermarket in FY
Slide 32: Product Portfolio – Aftermarket
Product Portfolio – Aftermarket Spare Parts Available Across Body Side Bumper Fender Lining Battery Box Front Lower Grill Mud Flap Moulding Horn Door Visor Grill Glass Double Armed Hook Jimny Power Supply Compound Car Accessories • Premium Car accessories • Interior • Phone holder • Rear tray Smart
Slide 33: PPAP – Strengths
PPAP – Strengths Strong R&D Capabilities Pioneering innovation, our strong Strategic & Technology R&D capabilities fuel our competitive Strong Distribution and edge, enabling us to shape the Driven Alliances industry landscape and meet Localisation Our commitment to strategic and evolving market dem
Slide 34: Environment, Social and Governance Review
Environment, Social and Governance Review 33
Slide 35: Approach & Strategy
Approach & Strategy Sustainable Strategy Sustainability for Long-Term Governance Structure 34
Slide 36: Corporate Sustainability
Corporate Sustainability Sustainability Report Public Disclosure of PPAP FY 23-24 Sustainability (ESG) Targets ➢ Achieve net zero by 2045. Our total renewable 188.37 tCO2 7359 KL water 233.85 ton of ➢ Achieve carbon-neutral energy production of Emission saving via water Recycled input 2912 GJ is eno
Slide 37: Awards & Accolades
Awards & Accolades Overall Performance Zero Defect Supplies Award Annual Supplier –TATA Overall Excellence -MSIL Gold Award - Toyota Vendor Award- MSIL - Toyota MOTORS Delivery Performance Best Performance Regional Contribution Award- Silver Award for Overall, Gold Award - MSIL Award- Asahi India Aw
Slide 38: Historical Financials
Historical Financials 37
Slide 39: Standalone Profit & Loss Statement
Standalone Profit & Loss Statement Particulars (INR cr) FY24 FY23 FY22 Revenue from operations 503.9 492.3 409.1 COGS 299.1 300.8 247.1 Gross Profit 204.8 191.5 162.0 Gross Profit Margin 40.6% 38.9% 39.6% Employee Expenses 90.7 79.0 69.6 Other Expenses 70.2 66.9 53.3 EBITDA 43.8 45.6 39.0 EBITDA Mar
Slide 40: Standalone Balance Sheet
Standalone Balance Sheet Liabilities (INR cr) FY24 FY23 FY22 Assets (INR cr) FY24 FY23 FY22 Equity Non-Current Assets Property, Plant and Equipment 284.8 292.6 261.4 Equity Share capital 14.0 14.0 14.0 Capital work-in-progress 14.7 8.9 20.8 Other Equity 299.0 302.5 298.8 Other Intangible Asset 8.7 7
Slide 41: Standalone Cashflow Statement
Standalone Cashflow Statement Particulars (INR cr) FY24 FY23 FY22 Net Profit Before Tax 3.2 9.0 6.1 Adjustments for: Non-Cash Items / Other Investment or Financial Items 42.5 35.9 31.5 Operating profit before working capital changes 45.7 44.9 37.6 Changes in working capital -7.5 -3.9 6.3 Cash genera
Slide 42: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement Particulars (INR cr) FY24 FY23 FY22 Revenue from operations 522.9 511.1 421.9 COGS 312.9 313.6 255.8 Gross Profit 210.0 197.5 166.1 Gross Profit Margin 40.2% 38.6% 39.4% Employee Expenses 95.2 82.9 72.2 Other Expenses 75.1 70.6 55.2 EBITDA 39.7 43.9 38.6 EBITDA M
Slide 43: Consolidated Balance Sheet
Consolidated Balance Sheet Liabilities (INR cr) FY24 FY23 FY22 Assets (INR cr) FY24 FY23 FY22 Equity Non-Current Assets Equity Share capital 14.0 14.0 14.0 Property, Plant and Equipment 300.3 309.7 273.9 Capital work-in-progress 14.8 9.0 20.8 Other Equity 268.9 280.7 289.9 Other Intangible Asset 9.3
Slide 44: Consolidated Cashflow Statement
Consolidated Cashflow Statement Particulars (INR cr) FY24 FY23 FY22 Net Profit Before Tax -8.1 -5.1 0.1 Adjustments for: Non-Cash Items / Other Investment or Financial Items 49.1 48.6 36.7 Operating profit before working capital changes 41.1 43.5 36.9 Changes in working capital 1.3 -11.2 -5.3 Cash g
Slide 45: For further information, please contact
For further information, please contact Company : Investor Relations Advisors : CIN: L74899DL1995PLC073281 CIN: U74140MH2010PTC204285 Ms. Pankhuri Agarwal Mr. Aakash Mehta / Mr. Rahul Agarwal investorservice@ppapco.com aakash.s.m@sgapl.net / rahul.agarwal@sgapl.net +91 98706 79263 / +91 98214 38864