Menon Bearings Limited · NSE:MENONBE
Menon Bearings — Q3 FY2025 Earnings Presentation
37 slides from Menon Bearings's earnings presentation, Jan 24, 2025
Slide 1: Exchange filing cover letter
24th January, 2025 To, To, The Manager (CRD) The Manager – Listing Department BSE Limited, National Stock Exchange of India Ltd., Phiroze Jeejeebhoy Towers, Exchange Plaza, Bandra Kurla Complex, Dalal Street, Fort Bandra (East), Mumbai – 400001 Mumbai – 400051 Scrip Code: 523828 Symbol: MENONBE Dear
Slide 2: Menon Bearings Limited Investor Presentation Q3 & 9MFY25
INDIA’S LEADING ENGINE BEARINGS COMPANY MENON BEARINGS LIMITED INVESTOR PRESENTATION Q3 & 9MFY25
Slide 3: Deploying Critical Technology for High End Products
DEPLOYING CRITICAL TECHNOLOGY FOR HIGH END PRODUCTS MASTERS IN NON FERROUS ALLOYS LIKE ALUMINIUM SILICON COPPER, MAGNESIUM & PROCESSES LIKE SINTERING & COLD CLADDING INVESTOR PRESENTATION 2
Slide 4: Safe Harbour
SAFE HARBOUR This presentation and the accompanying slides (the “Presentation”), which have been prepared by Menon Bearings 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 secur
Slide 5: Table of Contents
TABLE OF CONTENTS 1. Key Performance Highlights 2. Way Forward 3. About Us 4. Annual Financials 5. Annexure INVESTOR PRESENTATION 4
Slide 6: Key Performance Highlights
KEY PERFORMANCE HIGHLIGHTS INVESTOR PRESENTATION 5
Slide 7: Key Highlights - Q3 & 9M FY25
KEY HIGHLIGHTS - Q3 & 9M FY25 (CONSOLIDATED) Revenue (Rs. In Crs) EBITDA (Rs. in Crs) PAT (Rs. in Crs) 175.46 31.91 31.49 18.33 18.73 157.14 58.39 59.39 9.75 11.50 9.51 5.47 6.70 5.47 51.49 Q3FY25 Q2FY25 Q3FY24 9MFY25 9MFY24 Q3FY25 Q2FY25 Q3FY24 9MFY25 9MFY24 Q3FY25 Q2FY25 Q3FY24 9MFY25 9MFY24 EBITD
Slide 8: Product Wise Highlights - Q3 & 9M FY25
PRODUCT WISE HIGHLIGHTS - Q3 & 9M FY25 (CONSOLIDATED) Bimetal (Rs. In Crs) Alkop (Rs. In Crs) Braking Systems (Rs. In Crs) 119.74 6.16 107.20 49.56 46.86 3.07 39.25 40.98 17.10 2.03 2.10 2.12 34.36 16.31 15.02 Q3FY25 Q2FY25 Q3FY24 9MFY25 9MFY24 Q3FY25 Q2FY25 Q3FY24 9MFY25 9MFY24 Q3FY25 Q2FY25 Q3FY24
Slide 9: Revenue Breakup - Q3 & 9M FY25
REVENUE BREAKUP - Q3 & 9M FY25 (CONSOLIDATED) Product Wise Channel Wise 3.5% 3.5% 4.1% 3.5% 2.0% 9.2% 8.8% 9.1% 8.3% 14.3% 8.1% 7.5% 8.3% 7.0% 29.3% 27.5% 29.2% 28.3% 29.8% 7.3% 29.5% 27.9% 28.0% 29.8% 31.0% 67.2% 69.0% 66.7% 68.2% 68.2% 53.2% 55.7% 52.8% 56.8% 47.5% Q3FY25 Q2FY25 Q3FY24 9MFY25 9MFY
Slide 10: Income Statement – Q3 & 9M FY25 (Consolidated)
INCOME STATEMENT – Q3 & 9M FY25 (CONSOLIDATED) Particulars (Rs. in Crs) Q3FY25 Q2FY25 Q3FY24 YoY (%) 9MFY25 9MFY24 YoY (%) Revenue from Operations 58.39 59.39 51.49 13.38 175.46 157.14 11.66 Operating Expenses 34.50 34.27 29.75 15.93 102.74 89.87 14.31 Employee Cost 10.20 10.46 9.23 10.56 30.79 27.1
Slide 11: Way Forward
WAY FORWARD INVESTOR PRESENTATION 10
Slide 12: Current Capacity & Capex
CURRENT CAPACITY & CAPEX Bi-Metals Capacity Alkop Capacity Brake Capacity (in lakhs) (in MT) (FY24) (lac pcs) Capex Done in 9MFY25 (up to 31 Dec 2024) Bi-Metal Division 486 1440 1440 1440 15 Rs. 19.55 Cr 465 Capex Completed 456 to cater to increased market demand 2.4 FY22 FY23 FY24 FY22 FY23 FY24 Br
Slide 13: Way Forward
WAY FORWARD Expand New Capitalise on Focus on high Target growth in Capacities Segment strong network Margin products export markets Planned capex of ₹ 30-40 Cr in Entering in to EV segment Leveraging the existing No Constraint to expand With growth in Exports at FY25 on Plant & Machinery – in Alkop
Slide 14: About Us
ABOUT US INVESTOR PRESENTATION 13
Slide 15: About Us
ABOUT US ▪ India’s Leading Engine Bearing Manufacturer ▪ Operates in 3 key business areas 1.Bimetal Products 2.Alkop (Aluminium Die Casting) 3.Braking Systems (Brake Lining & Brake Shoes) ▪ Catering to industries not impacted by advent of EVs 1.Light & Heavy Commercial Vehicle Engines Revenue Breaku
Slide 16: Key Business Highlights
KEY BUSINESS HIGHLIGHTS M&HCV , OTR ,Tractor, 6 Units Oligopoly 24+ Countries / 30% Revenue Industrial ▪ 5 Plants in Kolhapur, India ▪ Operating in a 4 Player ▪ Segments where we are ▪ Exporting to over 24 across 27 acres. market in India. operating. countries including USA, Brazil, Mexico, Netherla
Slide 17: Board of Directors
BOARD OF DIRECTORS Nitin Menon R. D. Dixit Arun Aradhye (Executive Chairman) (Managing Director) (Whole Time Director & CFO) Mr. Nitin Menon is an industrialist Mr. Dixit has worked with the Menon Mr. Aradhye is associated and has rich and varied experience in Group for more than 60 years and is wit
Slide 18: Diversified Marquee Clientele Across Industries
DIVERSIFIED MARQUEE CLIENTELE ACROSS INDUSTRIES Industry diversified revenue thereby reducing dependency on any Industry Engine & Commercial Vehicle (HCVs & LCVs): Electrical & Industrial Applications: Tractors: No single customer contributes more than 10-12% of business Exports: The Brand Names men
Slide 19: State of the Art Manufacturing Facility
STATE OF THE ART MANUFACTURING FACILITY Among the few companies to have facilities to produce next generation parts through lead-free material to ensure the future emission norms In-House Design & Development Facilities 5 Plants in Kolhapur Strategically located manufacturing facilities in Kolhapur,
Slide 20: Bi-Metal Products
BI-METAL PRODUCTS Applications Bearings ▪ Bearings for Connecting Rods ▪ Bearings for Crank shafts ▪ Flanged Bearings ▪ Trimetal Bearings 30 to 175 mm dia Bushes ▪ Truncated Bushes for Connecting Rods Automotive Engines Compressors Generators ▪ Ball Indented Bushes ▪ Bushes for Connecting Rods ▪ Cam
Slide 21: Alkop (Aluminium Die Casting)
ALKOP (ALUMINIUM DIE CASTING) Applications Aluminum Products with wide range of applications High Pressure Aluminum Die Cast & Machined Component Automotive Engines Compressors Oil & Gas Gravity/ Tilt Gravity Aluminum Die Cast & Machined Components 2W / 3W Pumps Safety Equipment INVESTOR PRESENTATIO
Slide 22: Braking Systems
BRAKING SYSTEMS (NEW PRODUCTS) Brake Lining & Brake Shoes Eco-antifriction (asbestos free) materials and products like Brake Lining & Brake Shoes Asbestos Free – Environment friendly Eco-friendly brake friction materials are formulated without asbestos, copper, lead, tin, antimony trisulfide to mini
Slide 23: In-House Engineering and Development
IN-HOUSE ENGINEERING AND DEVELOPMENT In house Machine Building Capability 01 Engineering Department to Design SPM, Tooling, Gauges & Fixtures using Solid Works & Auto CAD which ensures First Time Right Samples and minimum development time 02 In-House Tool Room for faster Development In-house Tool Ro
Slide 24: Quality Assurance
QUALITY ASSURANCE Inspection & Testing Quality is an online & continuous activity integrating people, communication, process controls, designing, engineering, production & inspection departments Usage of sophisticated equipment's in inspection Testing technology calibrated to world standards Quality
Slide 25: Formidable Reach & Brand Equity in the After-Market
FORMIDABLE REACH & BRAND EQUITY IN THE AFTER-MARKET ▪ Robust network of 1,000 dealers and distributors ▪ Products present at 10,000+ retail outlets across India ▪ Retail field relationships build & nurtured for over 2 decades ▪ Our aftersales network serves a national community of 30,000+ mechanics
Slide 26: Key Competitive Advantages
KEY COMPETITIVE ADVANTAGES 1. 4. Long Standing Relationship High Entry Barrier Long standing relationships with customers with Higher gestation in product approval cycle among approvals in place suppliers due to technical nature of the products 2. 5. No Capacity Constraint In-house Machine Building
Slide 27: Market Size & Opportunity
MARKET SIZE & OPPORTUNITY 66% 70% 72% Netherlands 100% Revenue (%) 250.0 UK 34% 30% 28% 0% Austria Japan 200.0 -100% 65.2 USA China 59.3 Italy 67.0 -200% Nepal 150.0 Mexico Revenue -300% Bangladesh (Rs. In Crs) 100.0 151.7 151.4 128.4 -400% African UAE Continent India 50.0 -500% FY22 FY23 FY24 Domes
Slide 28: Industry Growth Drivers
INDUSTRY GROWTH DRIVERS Growing per capita income driving demand ▪ Uptrend in per-capita income and breach of $2,480 level by FY24 will trigger auto demand. ▪ Middle class segment is anticipated to grow to constitute ~38% of India’s population by FY31 & drive consumption Policy initiatives to drive
Slide 29: Annual Financials
ANNUAL FINANCIALS INVESTOR PRESENTATION 28
Slide 30: Long Term Performance Highlights
LONG TERM PERFORMANCE HIGHLIGHTS 0.03 20-22% 24% 32% 43% Net Debt / Equity EBITDA Margins ROE ROCE Dividend Payout Continues to stay Our Minimum Target Last 10 years Avg. ROE Last 10 years Average ROCE Average Dividend almost NIL EBITDA Margins expected Payout for last from our key businesses 10 yea
Slide 31: Revenue by Segment, Product Wise - FY24
REVENUE BY SEGMENT, PRODUCT WISE - FY24 Revenue (Rs. in Crs) EBITDA (Rs. in Crs) PAT (Rs. In Crs) 216.94 206.25 50.53 42.18 32.72 25.69 FY23 FY24 FY23 FY24 FY23 FY24 Bimetal (Rs. In Crs) Alkop (Rs. In Crs) Braking Systems (New Segment) (Rs. In Crs) 159.57 143.16 63.09 57.37 4.51 FY23 FY24 FY23 FY24
Slide 32: Income Statement (Consolidated)
INCOME STATEMENT (CONSOLIDATED) Particulars (Rs. in Crs) FY23 FY24 Revenue from Operations 216.94 210.75 Operating Expenses 122.85 120.08 Gross Profit 94.09 90.67 Gross Profit Margin (%) 43.37 % 43.02 % Employee Cost 32.10 35.93 Other Expenses 11.58 13.29 EBITDA 50.41 41.45 EBITDA Margin (%) 23.24 %
Slide 33: Balance Sheet (Consolidated)
BALANCE SHEET(CONSOLIDATED) Equity & Liabilities (Rs. in Crs) FY23 FY24 Assets (Rs. in Crs) FY23 FY24 Share Capital 5.60 5.60 Property Plant & Equipment's 76.45 80.25 Reserves & Surplus 127.72 139.30 Capital Work in Progress 8.30 14.12 Total Equity 133.32 144.90 Investments 1.29 3.69 Financial Liabi
Slide 34: Annexure
ANNEXURE INVESTOR PRESENTATION 33
Slide 35: Customer Recognition Awards & Accolades
CUSTOMER RECOGNITION AWARDS & ACCOLADES INVESTOR PRESENTATION 34
Slide 36: CSR & ESG Initiatives
CSR & ESG INITIATIVES Constructed an Auditorium at Gokul Shirgaon MIDC ▪ For promoting education & employment and enhancing vocational skills among children, working professionals & women Financial Assistance provided ▪ For promotion of rural sports & development of traditional arts and crafts Futur
Slide 37: Thank You
Thank You Menon Bearings Limited CIN: L29130PN1991PLC062352 Mr. Arun Aradhye – WTD & CFO admin@menonbearings.in KAPTIFY® Consulting Strategy & Investor Relations | Consulting (M): +91-845 288 6099 contact@kaptify.in www.kaptify.in