Minda Corp. Ltd. · NSE:MINDACORP
Minda — Q2 & H1 FY2024 Earnings Presentation
24 slides from Minda's earnings presentation, Nov 2, 2023
Slide 1: Exchange filing cover letter
November 02, 2023 The Officer-In-Charge (Listing) Head - Listing Operations, Listing Department BSE Limited, National Stock Exchange of India Ltd., P.J. Towers, Dalal Street, Fort, Exchange Plaza, Bandra Kurla Complex, Mumbai – 400 001 Bandra (East), Scrip Code: 538962 Mumbai - 400 051 Scrip Code: M
Slide 2: Q2 & H1 FY2024 Earnings Presentation
Q2 & H1 FY2024 EARNINGS PRESENTATION Adding Differentiating Value to the Auto Sector November 2023 w w w. s p a r k m i n d a . c o m
Slide 3: Contents
CONTENTS Company Overview Financial Overview Strategic Pillars of Growth ESG, CSR and Awards
Slide 4: One of India's Leading Automotive Component Company
One of India’s Leading Automotive Component Company (INR Cr) Business Verticals Particulars FY21 FY22 FY23 H1FY24 Revenue 2,368 2,976 4,300 2,270 EBITDA 217 295 461 246 Information & Plastics & Spark Minda Mechatronics Connected Systems Interiors Aftermarket Green Mobility Margin% 9.2% 9.9% 10.7% 10
Slide 5: Key Performance Highlights – Q2 & H1FY2024
Key Performance Highlights – Q2 & H1FY2024 Highest ever quarterly revenue of Rs. 1,196 crores with growth better than the industry Outperforming performance industry growth with consistently growing revenue and double- digit EBITDA margins Consistent performance with double digit EBITDA margin at 11
Slide 6: Minda Corp. Signs Partnership with HCMF for Sunroof & Closure Systems
Minda Corp. Signs Partnership with HCMF for Sunroof & Closure Systems HSIN Chong Machinery Works (HCMF) Sunroof Hsin Chong Group is a global manufacturer of automotive parts and systems, with mechatronics design expertise, supply chain excellence and high-quality products. HCMF and its subsidiaries
Slide 7: Business Highlights – Q2 FY2024
Business Highlights – Q2 FY2024 Smart Key Order ICE 2W Multiple orders of PV Vehicle Access Solutions Won lifetime order worth more than Rs. 450 Crores from one of the largest Strategic order win for Electronic 2W OEM for one of their largest selling steering column lock from multiple ICE models lea
Slide 8: Financial Overview
Financial Overview
Slide 9: Indian Auto Industry at the Cusp of a Multi-Year Upcycle
Indian Auto Industry at the Cusp of a Multi-Year Upcycle (Production Volumes in Mn) Q2 FY24 Growth (Y-o-Y) Commentary Auto Industry (1.5)% • Q2FY23 saw uptick in demand across most segments, 0.2% mainly driven by improved consumer sentiments and 5.6% 7.66 7.68 increased demand on the back of festive
Slide 10: Superior Financial Performance & Return Ratios
Superior Financial Performance & Return Ratios Rs. In Cr. REVENUE EBITDA PAT YoY YoY YoY 7% 6% 2% 58 59 Q2 FY24 131 1,196 124 115 1,117 ** 1,075 45 11% 15% 30% 10.8% 10.7% 11.0% 5.0% 4.2% 4.9% Q2FY23 Q1FY24 Q2FY24 Q2FY23 Q1FY24 Q2FY24 Q2FY23 Q1FY24 Q2FY24 EBITDA EBITDA Margin (%) PAT PAT Margin (%)
Slide 11: Consolidated Performance – Q2 & H1 FY2024
Consolidated Performance – Q2 & H1 FY2024 Particulars (Rs. Crores) Q2FY24 Q2FY23 Y-o-Y (%) Q1FY24 Q-o-Q (%) H1FY24 H1FY23 Y-o-Y (%) Operating Revenue 1,196 1,117* 7.1% 1,075 11.3% 2,270 2,127* 6.7% EBITDA 131 124 6.0% 115 14.5% 246 230 6.7% Margin (%) 11.0% 10.8% 18 bps 10.7% 31 bps 10.8% 10.7% 15 b
Slide 12: Truly Diversified Revenue Model
Truly Diversified Revenue Model By Geography By End Market By Products South East Asia After Market Passenger Vehicles Others 5% 11% 14% Europe & North 10.0% America WH Clusters 7% 35.0% 16.0% 10% 12% 14% 9% 7% 16% 36% 29% DCD 15% Commercial 45% 15.0% 83% Vehicles*, 29% 24% India 2-3 Wheelers 88% 46
Slide 13: Business Verticals Performance – Revenue – Q2 & H1FY2024
Business Verticals Performance – Revenue - Q2 & H1FY2024 Rs. In Cr. Commentary – Q2FY24 YoY YoY 8% 8% 575 1,009 1,088 531 513 Aftermarket and Others Mechatronics and Aftermarket: Mechatronics, • Revenue growth YoY in Q2FY24 supported 12% by robust demand in domestic market, product premiumisation an
Slide 14: Consolidated Leverage Position – H1 FY2024
Consolidated Leverage Position – H1 FY2024 Particulars (Rs. Cr) Sept 30th, 2023 Mar 31st, 2023 Net Worth 1,874 1,591 Long Term Borrowings 236 235 Short Term Borrowings 361 318 Gross Debt 597 553 Less: Cash & Cash Equivalents 129 162 Net Debt 468 391 Net Debt / Net Worth 0.25x 0.25x Capital Employed
Slide 15: Transforming Current Business Lines as per Technology Trends
Transforming Current Business Lines as per Technology Trends Wiring Harness & Clusters, ADAS & Light weight die casting Vehicle Access EV Power Electronics Connectors Sensors & interior plastic Electrical Distribution Light weighting & Plastic Intelligent & Smart Connected & Safe Mobility EV Drive T
Slide 16: Minda Corp is well Poised to Capture the EV Trend
Minda Corp is well Poised to Capture the EV Trend Most of our Products are Electric Vehicle Agnostic Potential EV Kit Value In INR 6,000-7,000 22,000 - 27,000 8000-10,000 2,000-2,500 2,000-3,000 4,000-4,500 Legacy Content in Increase in content Increase in content New Product Products under Potentia
Slide 17: Strategic Pillars of Growth
Strategic Pillars of Growth
Slide 18: Strategic Pillars of Growth
Strategic Pillars of Growth Strategic Pillars of Growth Focus on Innovation and Electric Vehicle Strengthening Passenger Enhancing the Core Technology Growth Opportunity Vehicle Offerings Safety Security System | Wiring In House R&D | JV’s EV Agnostic Products| Increase Control Systems | Sensors | H
Slide 19: Engineering Capabilities
Engineering Capabilities Spark Minda Technical Engineering Capabilities ~550+ Centre, Pune & Bangalore Electronics Hardware Engineering Headcount 257 Embedded Software E&E, WH Connection Systems & digitization Total IPs / Patents Filed 3% 100+ Engineers | WH Design | E&E 140+ Engineers | Digital Clu
Slide 20: ESG, CSR and Awards
ESG, CSR and Awards
Slide 21: ESG Sustainability Framework
ESG Sustainability Framework Driving Long-term Value Creation Through the Integration of Sustainability www.sparkminda.com 20
Slide 22: Corporate Social Responsibility – Q2 FY2024
Corporate Social Responsibility – Q2 FY2024 Prison Employment Programme Training on Behavioral Skills for Visually Impaired Session on Fire and Safety & 5'S‘ MoU Signed and Machines Installed at Sitarganj, Employees Aakarshan Skill Development Centre, Uttarakhand 51 people to be employed at Pune, Ma
Slide 23: Awards & Achievement – Q2 FY2024
Awards & Achievement – Q2 FY2024 Business Vertical – 1 Business Vertical – 2 (Mechatronics, Business Vertical – 5 (Information & Aftermarkets & others (EME & SMGM) won Connected System 36 Awards during division) won 21 awards division) won 31 Awards during Q2FY24 Q2FY24 during Q2FY24 ▪ QCFI - 12 Awa
Slide 24: Disclaimer
Disclaimer This presentation contains statements that contain “forward looking statements” including, but without limitation, statements relating to the implementation of strategic initiatives, and other statements relating to Minda Corporation Limited (“Minda Corp” or the Company) future business d