Gabriel India Limited · NSE:GABRIEL
Gabriel India — Q4 FY17 Earnings Presentation
26 slides from Gabriel India's earnings presentation, December 2017
Slide 1: Gabriel India Ltd. Result Update Presentation – Q4 FY17
Gabriel India Ltd. Result Update Presentation – Q4 FY17
Slide 2: Safe Harbour
Safe Harbour 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 t
Slide 3: Consistent Performance continues in FY17
Consistent Performance continues in FY17 Revenue EBITDA EBITDA Margin % Rs 15,291 Mn Rs. 1,440 Mn 9.4% +6.3% +9.7% +30 bps PBT Net Profit Rs. 1,108 Mn Rs. 816 Mn +16% +8.5% Note: FY17 compared with FY16 3
Slide 4: Strong Performance continues in Q4 FY17
Strong Performance continues in Q4 FY17 Revenue EBITDA EBITDA Margin % Rs. 3,912 Mn Rs. 369 Mn 9.4% +6.8% +10.8% +30 bps PBT Net Profit Rs. 278 Mn Rs. 221 Mn +9.5% +5.5% Note: Q4 FY17 compared with Q4 FY16 4
Slide 5: Key Highlights
Key Highlights 01 Revenue led by Higher Volumes in Passenger cars and commercial vehicles segment Raw Material cost negotiations, 02 commodity price corrections and segment/product mix have helped to control RMC. Cost Efficiency and Lower Interest 03 Payouts enabling EBITDA and PBT margins improveme
Slide 6: Improving dividend profile
Improving dividend profile Dividend Per Share (Rs.) 1.3 1.2 • Continuous Dividend 1.05 since 1998 0.85 • Stable Payout Ratio 0.75 • Declared Final Dividend 0.5 0.5 of Rs. 0.85 per share, amounting to 85% of Face Value • Total Dividend of Rs. 1.30 FY11 FY12 FY13 FY14 FY15 FY16 FY17 per share of Re. 1
Slide 7: Revenue Mix
Revenue Mix Revenue Mix Segment – Mix Channel – Mix 4% 4% 11% 13% 13% 13% 31% 32% 83% 83% 58% 55% FY16 FY17 FY16 FY17 Commercial Vehicles Exports Passenger Car Replacement 2W OE 7
Slide 8: Profit & Loss Highlights
Profit & Loss Highlights Rs. Mn FY17 % of revenue FY16 % of revenue YoY% Q4 FY17 % of revenue Q4 FY16 % of revenue YoY% Revenue 15,291 100.0% 14,382 100.0% 6.3% 3,912 100.0% 3,662 100.0% 6.8% Raw Material 10,844 70.9% 10,267 71.4% 2,761 70.6% 2,623 71.6% Employee Expenses 1,279 8.4% 1,150 8.0% 329 8
Slide 9: Margin Expansion Continues- Yearly
Margin Expansion Continues- Yearly EBITDA Margin % PBT Before Exceptional Item Margin % 9.4% 7.4% 9.1% +30 bps 6.7% +70 bps 8.1% 5.8% 7.1% 6.7% 4.3% 3.4% FY13 FY14 FY15 FY16 FY17 FY13 FY14 FY15 FY16 FY17 9
Slide 10: Quarterly Performance Trend
Quarterly Performance Trend Quarterly Performance Trend Revenue EBITDA EBITDA Margin % 3,938 3,912 376 369 9.5% 9.5% 9.4% 353 9.2% 9.2% 3,704 3,737 336 342 3,662 Q4 Q1 Q2 Q3 Q4 Q4 Q1 Q2 Q3 Q4 Q4 Q1 Q2 Q3 Q4 FY16 FY17 FY17 FY17 FY17 FY16 FY17 FY17 FY17 FY17 FY16 FY17 FY17 FY17 FY17 PBT Before Excepti
Slide 11: Balance Sheet
Balance Sheet EQUITY & LIABILITIES (Rs. Mn) Mar-17 Mar-16 ASSETS (Rs. Mn) Mar-17 Mar-16 Shareholder’s Fund 4,505 3,799 Non-current assets 3,155 2,997 Share capital 144 144 Fixed assets 2,904 2,746 Reserves & Surplus 4,361 3,656 Long-term loans and advances 251 236 Non-current liabilities 335 258 Cur
Slide 12: Strong Balance Sheet
Strong Balance Sheet D:E Ratio ROIC* (%) 0.31 27.8% 27.7% 26.7% 0.23 19.9% 18.0% 0.04 0.03 0.02 FY13 FY14 FY15 FY16 FY17 FY13 FY14 FY15 FY16 FY17 * Invested capital excluding Cash & Bank balances, Mutual Fund investments and returns thereon 12
Slide 13: Reduction in borrowings
Reduction in borrowings (Rs.Mn) 900 3 800 Public 83 Deposits 700 3 Working capital 600 Term loan 500 Finance lease 551 468 400 Others 300 200 3 1 100 195 2 171 101 59 33 0 Mar '13 Mar '14 Mar '15 Mar '16 Mar '17 The company has stopped accepting public deposits effective November 2015 and the outsta
Slide 14: Capital expenditure trend
Capital expenditure trend Capital Expenditure (Rs. Mn) 692 518 396 388 348 FY13 FY14 FY15 FY16 FY17 14
Slide 15: Working capital improvement
Working capital improvement Net Working Capital Days 33 28 26 25 24 FY13* FY14* FY15* FY16* FY17*# *Debtors including Bills discounted with banks. # FY17 nos. do not include proposed dividend as liability in terms of amendment in Accounting standard adjusted to which net days would be 22 days 15
Slide 16: AWARDS
AWARDS Price Competitiveness Award – Suzuki Motorcycles Gold Quality Award – Lohia UM Motorcycles Zero PPM Quality Award – Toyota Kirloskar Global Supplier Conference at Yamaha Japan 16
Slide 17: Awarded with "GREAT PLACE TO WORK"
Awarded with “GREAT PLACE TO WORK” Ranked among Top 100 Companies to work for 2017 in India Gabriel India Ranked #3 in Auto Component Industry 2016 Rank #70 among Top 100 Companies to work for in India Gabriel India Ranked #2 in Auto Component Industry 2015 Rank #43 among Top 50 Companies to work fo
Slide 18: Business Overview
GABRIEL Business Overview l acym ansysco (/
Slide 19: Introduction
Introduction Incorporated The company, Gabriel India, in 1961 Experienced Pioneers Of Shock Absorber & Professional Management manufacturing in India Innovation Significant Presence in all Strong R&D with over channels of sales 21 patents filed in OE, Aftermarket and Exports Products & Processes Str
Slide 20: Pioneer of Ride Control Products…
Pioneer of Ride Control Products… 2/3 Wheeler Front Hydraulic Shock Gas Shock Forks Absorbers Absorbers Passenger Car Gas Shock McPherson Cartridges Absorbers Struts After Market across all segments CV & Railways Shock Cabin Seat Absorbers Dampers Dampers 20
Slide 21: …with Diversified Revenue-Mix
…with Diversified Revenue-Mix Revenue (Rs. Mn) Segment-Wise: FY17 2/3 +28% Wheelers 15,291 55% 14,441 14,382 Passenger 12,745 cars Commercial 32% 11,960 Vehicles 13% Channel–Wise: FY17 Aftermarket OE 13% 83% FY13 FY14 FY15 FY16 FY17 Exports 4% 21
Slide 22: Strategic Manufacturing Footprint
Strategic Manufacturing Footprint Ashok Leyland SML Isuzu Tata Motors GIL Presence Honda Cars Honda Motorcycles TVS Motors GIL Plants ICML Yamaha India Maruti Suzuki Parwanoo GIL Satellite Locations Suzuki Motorcycles Manesar Khandsa AMW GM Sanand Dewas Tata Motors Hindustan Motors Honda Motorcycles
Slide 23: Strategy Going Ahead
GABRIEL acym awmsysco (/ faurecia @FSPSRAL MOSUL
Slide 24: Strategic Business Unit Approach…
Strategic Business Unit Approach… 2/3 Wheeler CV & Railways • Quality & Process • Product Technology Technology • New Product Devolvement • Capacity Enhancement Aftermarket Passenger Car • Product Development • Product Innovation • Expanding Reach • Improving Market Share To Derive benefits in Custo
Slide 25: … To Drive Growth
… To Drive Growth Sales Growth • Exports Focus • Inorganic Growth • Global Manufacturing Footprint Efficiency Improvement • Customer Focus Technology & Innovation • Debt Reduction • Improvement in quality • Break Even Point (BEP) • R & D Focus Reduction • Sustainable • Simplification of Parts Manufa
Slide 26: 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. Rajendran Arunachalam Mr. Jigar Kavaiya / Ms. Neha Shroff rajendran.arunachalam@gabriel.co.in jigar.kava