Gabriel India Limited · NSE:GABRIEL
Gabriel India — Q1 FY24 Earnings Presentation
56 slides from Gabriel India's earnings presentation, Aug 16, 2023
Slide 1: Stock exchange disclosure letter
Date: August 14, 2023 BSE Limited National Stock Exchange of India Limited 25th Floor, P. J. Towers, Exchange Plaza, Bandra Kurla Complex, Dalal Street, Bandra (E), MUMBAI – 400 001 MUMBAI – 400 051 (Company Code: 505714) (Company Code: GABRIEL) Sub: Disclosure under Regulation 30(2) of SEBI (Listin
Slide 2: Gabriel India Ltd. Investor Presentation
Gabriel India Ltd. Investor Presentation 16th August 2023 Gabriel India Ltd. | www.anandgroupindia.com/gabrielindia/ 1
Slide 3: Safe Harbor
SAFE HARBOR This presentation and the accompanying slides (the “Presentation”), has been prepared by Gabriel India Limited (the “Company”), solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form th
Slide 4: Table of Contents
TABLE OF CONTENTS 1 Q1 FY24 Result Update 2 Corporate Overview 3 Business Overview 4 Strategy Going Forward Gabriel India Ltd. | www.anandgroupindia.com/gabrielindia/ 3
Slide 5: Q1 FY24 Result Update
Q1 FY24 Result Update Gabriel India Ltd. | www.anandgroupindia.com/gabrielindia/ 4
Slide 6: Financial Highlights – Q1 FY24
FINANCIAL HIGHLIGHTS – Q1 FY24 Q1 FY24 Revenue EBITDA PBT Rs. 690 Mn Rs. 577 Mn Rs. 8,058 Mn 8.6% 7.2% Q4 FY23 Rs. 7,370 Mn Q4 FY23 Rs. 524 Mn / 7.1% Q4 FY23 Rs. 450 Mn / 6.1% Q1 FY23 Rs. 7,209 Mn Q1 FY23 Rs. 509 Mn / 7.1% Q1 FY23 Rs. 445 Mn / 6.2% Gabriel India Ltd. | www.anandgroupindia.com/gabrie
Slide 7: Financial Highlights – Q1 FY24
FINANCIAL HIGHLIGHTS – Q1 FY24 Revenue EBITDA PBT Rs. 8,058 Mn Rs. 690 Mn (8.6%) Rs. 577 Mn (7.2%) Q1 FY’23: 7,209 Mn (+11.8%) Q1 FY’23: 509 Mn (+35.7%) Q1 FY’23: 445 Mn (+29.7%) Q4 FY’23: 7,370 Mn (+9.3%) Q4 FY’23: 524 Mn (+31.8%) Q4 FY’23: 450 Mn (+28.2%) Balance Sheet Cash Flow Capex Net Cash pos
Slide 8: Financial Track Record
FINANCIAL TRACK RECORD P&L (Rs. Mn) Q1 FY24 Q1 FY23 YoY Q4 FY23 QoQ FY23 FY22 YoY Revenue from Operations 8,058 7,209 11.8% 7,370 9.3% 29,717 23,320 27.4% Gross Margin (%) 25.2% 23.5% 1.7% 23.8% 1.4% 23.7% 23.4% 0.3% EBITDA Margin (%) 8.6% 7.1% 1.5% 7.1% 1.5% 7.2% 6.3% 0.9% Net Margin (%) 5.3% 4.6%
Slide 9: Quarterly Performance Trend
QUARTERLY PERFORMANCE TREND Revenue (Mn) Margins 29,717 8.6% 8.0% 7.7% 7.7% 8.1% 7.1% 7.0% 7.3% 7.1% 7.4% 7.2% 7.1% 6.6% 6.9% 5.1% 5.5% 7,370 6.3% 6.7% 23,320 5.3% 4.6% 5.0% 2.7% 4.6% 4.6% 4.3% 4.2% 4.2% 4.1% 4.5% 3.9% 3.9% 3.9% 20,765 Q1FY20 Q2FY20 Q3FY20 Q4FY20 Q2FY21 Q3FY21 Q4FY21 Q1FY22 Q2FY22 Q
Slide 10: Profit & Loss Statement
PROFIT & LOSS STATEMENT Particulars (Rs. Mn) Q1 FY24 Q1 FY23 YoY Q4 FY23 Q-o-Q FY23 FY22 Y-o-Y Revenue from Operations 8,058 7,209 11.8% 7,370 9.3% 29,717 23,320 27.4% Raw Material 6,026 5,517 5,612 22,688 17,863 Employee Expenses 497 441 462 1,831 1,597 Other Expenses 845 743 773 3,061 2,401 EBITDA
Slide 11: Financial Track Record
FINANCIAL TRACK RECORD Revenue (Rs Mn) EBITDA (Rs Mn) & EBITDA Margin (%) PAT 29,717 2,500 9.0% 9.3% 7.2% 10.0% 1,324 8.6% 8.1% 2,137 942 950 847 895 23,320 9.6% 7.4% 752 2,000 1,713 1,778 8.0% 827 20,765 6.0% 6.3% 603 18,331 18,699 1,461 600 14,305 1,500 1,293 1,376 6.0% 16,948 1,168 1,459 +10.4% 1
Slide 12: Key Ratios
KEY RATIOS Return on Equity (%) Return on Assets (%) Fixed Asset Turnover (x) 18.0 10.4 9.8 9.3 6.6 16.1 15.2 8.8 5.9 5.8 13.0 5.1 5.7 11.7 6.6 4.4 8.7 5.1 FY18 FY19 FY20 FY21 FY22 FY23 FY18 FY19 FY20 FY21 FY22 FY23 FY18 FY19 FY20 FY21 FY22 FY23 Current Ratio (x) Debt : Equity Ratio Dividend* (Rs/sh
Slide 13: Revenue Mix (Inc. Trading)
REVENUE MIX (INC. TRADING) Segment Mix Channel Mix Aftermarket 2% 2% 4% 4% 4% 3% 4% 2% 2% 1% 12% 12% 10% 12% 16% 10% 11% 12% 12% 13% 13% 15% 12% 13% 13% 9% 8% 8% 7% 10% 21% 22% 22% 23% 24% 36% 37% 38% 35% 37% 83% 81% 84% 84% 83% 67% 65% 63% 65% 61% 42% 43% 43% 44% 41% FY21 FY22 FY23 Q1 FY 23 Q1 FY 2
Slide 14: Balance Sheet
BALANCE SHEET Assets (Rs. Mn.) Mar-23 Mar-22 Mar-21 Equity and Liabilities Mar-23 Mar-22 Mar-21 (Rs. Mn.) Non-current assets 4,857 4,458 4,175 Equity 8,703 7,668 6,963 Current assets 9,423 9,073 7,780 Non-Current Liabilities 384 403 429 Total Assets 14,280 13,531 11,955 Current liabilities 5,193 5,4
Slide 15: Cash Flows
CASH FLOWS Cash Flow from Operations (Rs. Mn) Cash Flow used in Investing (Rs. Mn) Cash Flow used in Financing (Rs. Mn) 2,039 1,701 1,364 337 1,201 962 1,038 261 278 928 980 241 950 217 428 FY 19 FY 20 FY 21 FY 22 FY23 FY 19 FY 20 FY 21 FY 22 FY23 FY 19 FY 20 FY 21 FY 22 FY23 3,500 80 6,000 150 3,00
Slide 16: CORE 90 Cost Reduction Drive
CORE 90 (COST REDUCTION IN 90 DAYS) CORE 90 COST REDUCTION DRIVE Gabriel India Ltd. | www.anandgroupindia.com/gabrielindia/ 15
Slide 17: Vision 2025
VISION 2025 Exports Domestic Dominance Mergers & Acquisitions Technology Gabriel India Ltd. | www.anandgroupindia.com/gabrielindia/ 16
Slide 18: Our Strategic Business Drivers: Exports
OUR STRATEGIC BUSINESS DRIVERS Exports Gabriel India Ltd. | www.anandgroupindia.com/gabrielindia/ 17
Slide 19: Creating Global Presence Through Exports
CREATING GLOBAL PRESENCE THROUGH EXPORTS 303 290286316 Export Sales - Quarter 276 251 Leveraging 219 208 228218 Resource in Europe for Export order from DAF 204 relationship with exploring Netherlands, VW Global OEMs in India opportunities in Russia commenced 122119 125 to penetrate their Over
Slide 20: Our Strategic Business Drivers: Domestic Dominance
OUR STRATEGIC BUSINESS DRIVERS Domestic Dominance Gabriel India Ltd. | www.anandgroupindia.com/gabrielindia/ 19
Slide 21: YTD Segment Performance – 2W & 3W (Incl. AM)
YTD SEGMENT PERFORMANCE – 2W&3W (INCL. AM) Performance • Growth was primarily driven by efforts in terms of improving market share with key customers, higher efforts in terms of developing new 61% % to Total Sales 32% Market Share products and on account of strong acceptance of end products in the m
Slide 22: Brand Gabriel: Well-Entrenched Amongst All 2W/3W EV Players
BRAND GABRIEL: WELL– ENTRENCHED AMONGST ALL 2W/3W EV PLAYERS Top Models GIL presence 1. Okinawa praise 2. Ampere Magnus-ex 3. Hero optima 4. Ola S1 pro 5. Ather 450x 6. TVS iQube 7. Simple energy 20.94% 73% 8% 112% 38% Highest EV Sales in GIL growth in EV-2W GIL growth in EV-3W GIL SOB in 2W sales G
Slide 23: E-Bike Fork Business
E-BIKE FORK BUSINESS MTB Front fork MEETING THE NEEDS OF SPECIFICATIONS- 29“ version 100 mm and 130mm travel option Tapered steerer Coil Spring and Oil Damper TAIGAR 1 Attribute By Gabriel and Spur Mountainbikes ISO MTB Approved ✔ 35mm Stanchion ✔ Apple Air Tag Mount ✔ Clearance for large ti
Slide 24: YTD Segment Performance – Passenger Vehicles (Incl. AM)
YTD SEGMENT PERFORMANCE – PASSENGER VEHICLES(INCL. AM) Performance • Passenger vehicle segment crossed 2 million units in the 24% % to Total Sales 24% Market Share first half of the Calander year for the first time New Program • Maruti Suzuki: Jimny • Stellantis : Electric Citroen C3 Market Update •
Slide 25: Gabriel Presence: Utility Vehicles
GABRIEL PRESENCE: UTILITY VEHICLES • Manufacturing Facility: Chakan & Khandsa • R&D Centre: Pune • Product Portfolio: McPherson struts, Gas Shock Absorbers, Volkswagen Steering Dampers Taigun Skoda Kushaq Toyota Hyryder • Commenced the technology of FSD (Frequency Selective Damping) in damper suppli
Slide 26: YTD Segment Performance – Commercial Vehicles
YTD SEGMENT PERFORMANCE – COMMERCIAL VEHICLES (INCL. AM & RAILWAYS) Performance 13% % to Total Sales 89% Market Share • Moderate growth coming back slowly reflecting in better production volumes by OEMs New Program Mahindra – UPP ( G1 & G2 ) & 3Whlr , TML – Coral , 55T (High Damping force Dampers) ,
Slide 27: Gabriel Presence – Railways
GABRIEL PRESENCE- RAILWAYS Damper for Various Bogie of Railroad Manufacturing Facility: Chakan, Pune R&D Centre: Pune Product Portfolio: Damper for Rajdhani/Shatabdi Coach, ICF Conventional coach, EMU/MEMU Coach & Diesel Locomotive 1st Indigenous Company to develop damper for Rajdhani/ Shata
Slide 28: Aftermarket
AFTERMARKET Strong Brand Extensive Distribution Recent Widest Presence Through Equity Network Highlights Product Range Allied Products • Achieved 14% growth over Q1 • Only Company present in all • Leveraging Brand • Brand “Gabriel” • 10 CFA locations & 700+ 22-23. Sale Q1 (23-24) – 1119 the segments
Slide 29: Our Strategic Business Drivers: Merger & Acquisition
OUR STRATEGIC BUSINESS DRIVERS Merger & Acquisition Gabriel India Ltd. | www.anandgroupindia.com/gabrielindia/ 28
Slide 30: Merger & Acquisition
MERGER & ACQUISITION Product diversification is one of the important levers in both de-risking our business and also improving shareholders value • Gabriel India is the flagship of the ANAND Group. From being a single-product company in • Founded in the Netherlands in 1946, with over 1961, Gabriel I
Slide 31: Inalfa Gabriel Sunroof Systems Pvt Ltd (IGSSPL)
INALFA GABRIEL SUNROOF SYSTEMS PVT LTD (IGSSPL) Market update: Sunroof Sold in Calendar Year 2022 : ~ 1 Mio Nos. Every 4th Car is sold with Sunroof @ 28% is Panaromic type and balance 72% are TVS type Market share : SUV : 52% cars have Sunroof Other Passenger Cars : 15% Cars use Sunroofs. Majority o
Slide 32: Glimpses of IGSSPL Plant at Chennai
GLIMPSES OF IGSSPL PLANT AT CHENNAI Gabriel India Ltd. | www.anandgroupindia.com/gabrielindia/ 31
Slide 33: Our Strategic Business Drivers: Technology
OUR STRATEGIC BUSINESS DRIVERS Technology Gabriel India Ltd. | www.anandgroupindia.com/gabrielindia/ 32
Slide 34: Gabriel Europe Engineering Centre (GEEC)
GABRIEL EUROPE ENGINEERING CENTRE (GEEC) • Competence Centre for knowledge transfer and training • Centre of Excellence aiming to become Best in Class on Global Suspension Market • Joint development of Gabriel Next Generation Technologies with GIL R&D and global external partners • Located at Thor P
Slide 35: Gabriel Pune Tech Centre: IGBC Certified Green Building
GABRIEL PUNE TECH CENTRE: “IGBC” CERTIFIED GREEN BUILDING Gabriel India Ltd. | www.anandgroupindia.com/gabrielindia/ 34
Slide 36: Gabriel Tech Centre: Powering Our Future
GABRIEL TECH CENTRE: POWERING OUR FUTURE, DRIVING POSSIBILITIES In-house facility for customers for ride tuning of vehicles Advanced damper technology for the enhanced user experience CO2 footprint reduction through product light weighting and use of green technologies Virtual analysis for s
Slide 37: R&D, Innovation and Technology
R&D, INNOVATION AND TECHNOLOGY: ESSENTIAL COMPONENTS FOR STRATEGIC EVOLUTION At Gabriel India, our constant endeavors towards investing in R&D, innovation and technology are considered integral to our continuous improvement process. Our R&D technology centres at Hosur and Chakan ( recently launched)
Slide 38: Achieving Engineering Excellence
ACHIEVING ENGINEERING EXCELLENCE Laser Welding Technology, Friction Designed & Developed Remote Welding Technology, Water based Canister Shock Absorber Autophoretic Paint System Adjustable Electronic-Hydraulic Shock Absorbers with Shock Absorber for a leading SUV Floating Piston vehicle in Aftermark
Slide 39: Corporate Overview
Corporate Overview Gabriel India Ltd. | www.anandgroupindia.com/gabrielindia/ 38
Slide 40: Gabriel at a Glance
GABRIEL AT A GLANCE Corporate Profile • Incorporated in 1961 • Pioneer of Ride Control Products in India with state-of-the-art integrated operations • Strong R&D focus, employing 60 specialists, highest in the industry • Experienced, professional management team and Board of Directors • Marquee clie
Slide 41: Strategic Manufacturing Footprint
STRATEGIC MANUFACTURING FOOTPRINT Khandsa - PC Parwanoo - 2W,CV,AM Dewas - CV,3W Sanand – 2W Nashik – 2W Chennai IGSSPL Plant (100% Subsidiary) Chakan – PC,CV,3W GIL Plants GIL Satellite Locations IGSSPL, Chennai - Sunroofs *Maps not to scale. All data, information, and maps are provided "as is" wit
Slide 42: Strategic Manufacturing Footprint
STRATEGIC MANUFACTURING FOOTPRINT Chakan 2010/ Sanand 1997 Volkswagen, M&M, Toyota, Tata Motors, Bajaj 2019 Tata Motors, HMSI, Auto, Piaggio, DAF & Indian Railways . Dewas Hosur Khandsa Tata Motors, M&M, 1992 TVS, HMSI, Royal 1997 2007 Maruti Suzuki, Honda Cars Daimler, Force Motors, Enfield, Ashok
Slide 43: Competitive Advantages
COMPETITIVE ADVANTAGES Strong Parentage of Quality at Competitive Anand Group Price • Flagship company of ANAND Group, a one-stop • 7 state-of-the-art facilities in proximity to OEMs solution provider for customers ensures just-in-time supply as per demand while • Leverage partnerships, systems, pro
Slide 44: Relationships with Marquee OEM Customer Base
RELATIONSHIPS WITH MARQUEE OEM CUSTOMER BASE 2/3 Wheelers Passenger Cars CV & Railways Gabriel India Ltd. | www.anandgroupindia.com/gabrielindia/ 43
Slide 45: Safety Focus
SAFETY FOCUS Collaboration for training with British Safety Council Dexterity Centre for induction training App Based abnormality reporting Online work permit monitoring Safety House Standardization: Communication Training & Skill Continual Technology R&R and Consequence Development Improvem
Slide 46: Human Resources
HUMAN RESOURCES In-depth sectoral knowhow Mar' Mar’ Mar’ Mar’ Mar’ Key Metrics Seasoned Resources 23 22 21 20 19 Revenue per employee 0.66 0.61 0.43 0.51 0.53 (Rs Cr) Strong employee Average employee connect experience 8.0 8.0 9.0 8.0 7.0 (person years) Investment in training programmes 1.94 1.05 0.
Slide 47: Great Place to Work – Five Consecutive Years
“GREAT PLACE TO WORK” – FIVE CONSECUTIVE YEARS 2019 • Rank #90 among Top 100 Companies to work for in India 2018 • Rank #89 among Top 100 Companies to work for in India 2017 • Ranked in Top 25 workplaces in manufacturing in India • Ranked #2 in Auto & Auto Component Industry • Rank #52 among Top 100
Slide 48: Sustainability Mission
SUSTAINABILITY MISSION CUSTOMER VALUE Mission TO BE CARBON & WATER NEUTRAL BY 2025 WITH ZERO WASTE TO LANDFILL Gabriel India Ltd. | www.anandgroupindia.com/gabrielindia/ 47
Slide 49: Sustainability: Gabriel Carbon Footprint
SUSTAINABILITY Gabriel Carbon Footprint 45 0.60 GABRIEL CARBON FOOTPRINT GHG (kg) 0.61 0.62 MILLIONS 0.60 39.1M 0.60 40 0.60 35.3M 34.0M 35 32.8M 0.56 31.4M 29.6M 0.58 30 CUSTOMER 25 23.4M 0.56 0.55 VALUE 21.1M 0.54 20.7M 19.8M 20 17.7M 0.54 15.9M 15 10.7M 0.52 10 5.9M 0.50 5 0 0.48 2017-18 2018-19
Slide 50: Annual Report 2022-23 BRSR
Annual Report 2022-23 BRSR Gabriel India Reports its first BRSR in its Annual Report for 2022-23 Considering, reporting of company’s performance on sustainability related factors as vital as reporting on financial and operational performance, SEBI vide its circular SEBI/HO/CFD/CMD-2/P/CIR/2021/562 d
Slide 51: CSR Initiatives 2022-23
CSR INITIATIVES 2022-23 Focus Area Parwanoo Gurugram Dewas Jawai Nashik Rewari Scholarships: Ten girls (3- MEDHAVI Provide education to 350+ school 7yrs.) to pursue education Scholarships: Support 11 students from govt./low grade at ANAND School matriculate girls to complete private schools who are
Slide 52: Board of Directors
BOARD OF DIRECTORS Anjali Singh Manoj Kolhatkar Atul Jaggi Jagdish Kumar Executive Chairperson Managing Director Deputy Managing Director Group President & Group CFO Gabriel India Gabriel India Gabriel India ANAND Group Pradeep Banerjee Matangi Gowrishankar Pallavi Joshi Bakhru Mahua Acharya Non-Exe
Slide 53: Executive Leadership
EXECUTIVE LEADERSHIP Manoj Kolhatkar Managing Director Atul Jaggi Amitabh Srivastava Deputy Managing Director Rishi Luharuka Vinod Razdan Koen Reybrouck Chief Operating Officer, Chief Financial Officer Head- Human Chief Technical Railways and Aftermarket and Resource Advisor Business Unit Head- Stra
Slide 54: Customer Awards & Accolades
CUSTOMER AWARDS & ACCOLADES Special Award by Volvo ZERO KM PPM and Quality MSES-A Level Award Eicher Commercial Vehicles certification by Toyota Kirloskar by Mahindra & Limited Motor Mahindra Award for Pre "C" VA activity by Honda Motorcycle and Scooter Periodic Cost Reduction Award By Supplier Samr
Slide 55: Industry Awards & Accolades
INDUSTRY AWARDS & ACCOLADES Quality Excellence Award in 9th FICCI 45th International Convention Gabriel Gold in Manufacturing Excellence in Very Quality System excellence awards for India, Nashik received Platinum Award Large Category by Automotive Industry and National Conference by ICQCC Dhaka Com
Slide 56: For further information, please contact
For further information, please contact: Company : Investor Relations Advisors : Gabriel India Ltd. Strategic Growth Advisors Pvt. Ltd. CIN : L34101PN1961PLC015735 CIN : U74140MH2010PTC204285 Mr. Nilesh Jain Mr. Jigar Kavaiya / Pratik Shah secretarial@gabriel.co.in jigar.kavaiya@sgapl.net / p.s.shah