Talbros Automotive Components Limited · NSE:TALBROAUTO
Talbros Automotive Components — Q4 FY2023 Earnings Presentation
30 slides from Talbros Automotive Components's earnings presentation, May 2023
Slide 1: Q4 & FY23 Investor Presentation
Q 4 & F Y 2 3 I N V ESTOR P R ES EN TATI ON May 2023
Slide 2: Talbros Automotive Components Ltd (TACL) - Group
Talbros Automotive Components Ltd (TACL) - Group Product Portfolio Entities TACL Group Turnover*(Rs. Crs.) FY22 FY23 Gaskets & TACL Standalone 382 434 Heat Shields Nippon Leakless Talbros Pvt Ltd 74 89 Forgings TACL Standalone 204 219 FY22 FY23 879 1,037 Chassis 210 Marelli Talbros Chassis Systems P
Slide 3: New Multi year orders worth over Rs. 1000 crores received
New Multi year orders worth over Rs. 1000 crores received TACL has received new multi years orders over Rs. 1,000 crores from both, domestic and overseas customers across its business divisions, product segments and JVs. These orders are to be executed over a period of next 5 years covering the comp
Slide 4: Q4 & FY23 Consolidated Performance Highlights
Q4 & FY23 Consolidated Performance Highlights Total Income from Operations^ EBITDA^ Profit After Tax* +18% +17% +34% 176.9 26.8 16.9 Q4 FY23 149.9 22.8 12.6 Q4FY22 Q4FY23 Q4FY22 Q4FY23 Q4FY22 Q4FY23 +12% +12% +24% 653.4 93.5 55.6 584.9 83.2 44.9 FY23 FY22 FY23 FY22 FY23 FY22 FY23 Rs. Crores ^ Includ
Slide 5: Q4 FY23 Consolidated Performance Highlights
Q4 FY23 Consolidated Performance Highlights Gasket & Heat Forgings MTCS NLT TMR Shield +17% +22% +11% +8% +68% 118.7 58.9 54.5 20.1 28.8 18.6 Revenues 101.6 49.3 48.1 17.1 Q4FY22 Q4FY23 Q4FY22 Q4FY23 Q4FY22 Q4FY23 Q4FY22 Q4FY23 Q4FY22 Q4FY23 +13% +29% +27% +14% +144% 16.9 10.2 6.2 4.1 3.9 15.0 3.6 E
Slide 6: FY23 Consolidated Performance Highlights
FY23 Consolidated Performance Highlights Gasket & Heat Forgings MTCS NLT TMR Shield +14% +7% +27% +19% +55% 434.2 218.7 209.6 88.6 84.8 203.7 Revenues 381.8 74.2 164.6 54.7 FY22 FY23 FY22 FY23 FY22 FY23 FY22 FY23 FY22 FY23 +12% +14% +34% +19% +196% 59.9 33.8 21.8 19.1 7.1 53.5 29.6 16.0 EBITDA 16.3
Slide 7: Across varied segments…
Across varied segments… 4% 8% 11% Domestic Breakup* 11% 22% 10% 26% 13% 2 & 3 Wheelers 37% Passenger Vehicle 22% FY21 FY22 FY23 HCV & LCV Agri & Off Loaders 28% 26% 28% Others 28% 26% 6% 8% 8% 5% 5% 4% Breakup (Type of OEM Market)* 25% Exports FY21 23% FY22 25% FY23 After Market 64% 64% 63% Others *
Slide 8: Strong Balance Sheet
Strong Balance Sheet Return on Equity (RoE) Return on Capital Employed (RoCE) Debt / Equity + 20 bps + 30 bps 16.3% 16.5% 16.3% 16.6% 0.29 0.24 FY22 FY23 FY22 FY23 FY22 FY23 RoE = PAT / Avg. Equity ; RoCE = EBIT / Avg. Capital Employed (Equity + Total Debt) 8
Slide 9: Q4 & FY23 Consolidated Profit & Loss Statement
Q4 & FY23 Consolidated Profit & Loss Statement Particulars (Rs. Crores) Q4 FY23 Q4 FY22 Y-o-Y FY23 FY22 YoY Revenue from Operations 174.9 148.0 18% 647.2 577.2 12% Other Income 1.9 1.9 6.2 7.7 Total Revenue from Operation 176.9 149.9 18% 653.4 584.9 12% Raw Material 96.9 77.6 351.1 306.5 Employee Co
Slide 10: Consolidated Balance Sheet
Consolidated Balance Sheet ASSETS (Rs. Cr.) Mar-23 Mar-22 EQUITY AND LIABILITIES (Rs. Crs.) Mar-23 Mar-22 Non-current assets Equity Property, plant and equipment 168.0 153.3 Equity Share capital 12.3 12.3 Capital work in progress 4.8 3.3 Other equity 355.2 289.5 Investment property 2.8 3.0 Sharehold
Slide 11: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement Particulars (Rs. Crores) FY23 FY22 PBT 70.3 56.4 Adjustments 22.1 26.5 Operating profit before working capital changes 92.4 82.8 Changes in working capital -20.5 -12.7 Cash generated from operations 71.9 70.1 Direct taxes paid (net of refund) -15.4 -18.4 Net Cash fro
Slide 12: MDs Comments
MDs Comments Commenting on the performance Mr. Anuj Talwar, Jt. Managing Director, Talbros Automotive Components Limited said: “FY23 has been a strong year at Talbros Automotive Components Limited. At a group level including the JVs, the Company has achieved revenues of Rs. 1,037 crore, a growth of
Slide 13: Hedged Portfolio…
Hedged Portfolio… FY23 - Revenue Contribution Segments Product Portfolio Market Exposure TMR 5% ▪ 2 Wheelers ▪ Gaskets ▪ OEMs NLK 4% ▪ 3Wheelers ▪ Heat Shields ▪ After Market MTCS ▪ Passenger Vehicles ▪ Forgings ▪ Exports 13% ▪ Commercial Vehicles ▪ Chassis Systems ▪ Others Forgings ▪ Anti vibration
Slide 14: Having Diversified Customer base - Top Customers
Having Diversified Customer base - Top 10 Customers FY22 FY23 01 Maruti Suzuki India Limited 10% 01 Maruti Suzuki India Limited 13% 02 Bajaj Auto 9% 02 TATA Motors Limited 8% 03 TATA Cummins 8% 03 Jaguar Land Rover Limited 7% 04 Hero Motocorp Limited 7% 04 Bajaj Auto 7% 05 Tata Motors Limited 7% 05
Slide 15: Gasket Business
Gasket Business ▪ ~50% Market share in Gaskets 3x the nearest competitor Total Income ▪ Market Leader in – Two-Wheeler, Agri & Off Loaders, HCV & LCV segment 434 382 ▪ Single Source Supplier for 5 of our customers 333 265 287 ▪ Signed up exclusive contract with SANWA for Light Weight Aluminium Heat
Slide 16: Forgings Business
Forgings Business ▪ One stop solution for Hot Forging (750 to 2,500 Ton Press) Total Income ▪ Strong presence in Overseas Market & Supplier to Top Tier I companies ▪ One Stop Solution for Die Design, Machine parts and Heat treatment (Normalizing 219 and Carbohydrizing) 204 166 170 ▪ Moving towards h
Slide 17: Strong Global Partnerships - Joint Ventures
Strong Global Partnerships - Joint Ventures Nippon Leakless Corporation (NLK) Marelli Talbros Chassis Systems Pvt Ltd (MTC) Talbros Marugo Rubber Pvt. Ltd. (TMR) ✓ Nippon Leakless Corporation (Japan) - One ✓ Magneti Marelli S.p.a (Milano) - A Fiat group ✓ Marugo Rubber Industries Ltd (Japan) - Globa
Slide 18: JV's Performance Highlights - Total Income from Operations
JV’s Performance Highlights - Total Income from Operations Nippon Leakless Talbros Marelli Talbros Chassis Systems Talbros Marugo Rubber 122.1 209.6 84.8 106.0 164.6 83.4 88.6 74.2 129.7 136.8 52.0 54.7 124.3 45.8 41.0 FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21 FY22 FY23 8% 43%
Slide 19: Venturing into EV
Venturing into EV FORGINGS o Marelli Talbros is working on new RFQ’s for several Supplying parts for Plug-in hybrid Indian and global OEM’s for supporting Electric Vehicles to OEMs globally development of future EV’s o Marelli Talbros Supplies Critical Suspension Components to EV’s Increased Focus o
Slide 20: Capex Plans - TACL
Capex Plans - TACL Utilization Levels Addl. Capex to reach (FY23e) Revenues of FY27e Gasket & Heat Shield 85% Rs. 50 Crores To be funded by Internal Accruals Capex of Rs. 25-30 Crs. Forgings 77% Rs. 60 Crores per annum Marelli Talbros Chassis Systems* 73% Rs. 80 Crores (MTCS) These amounts will be f
Slide 21: Talbros 2.0 – The Way Forward
Talbros 2.0 – The Way Forward Increased Export Increased Comfortable Debt Higher Returns Sales Margins Profile 25% in FY23e EBITDA Margins Total Debt to to increase from RoCE to increase to remain under ~14% to to 20% + going 35% + in ~15-16% by Rs. 100 ahead FY27e crores FY27e D R I V I N G F U T U
Slide 22: About Us
About Us Over 6 Decades of experience in Auto Component manufacturing Diversified Auto Component Player Across Two Wheelers, PVs, CVs Off -Highway and Farm Equipments One of the Electric Vehicles – Supply to EV’s (Major OEM’s globally) Most Hedged Diversified Product Portfolio – Gasket & Heat Shield
Slide 23: Leadership Team driving Growth & Profitability
Leadership Team driving Growth & Profitability Anuj Talwar – Joint Managing Director Is a Bachelor in Business Administration from college of William & Mary, Virgina, USA and Master of Business Administration from Boston University Graduate School of Management. He has been associated with the Compa
Slide 24: Strong Board of Directors
Strong Board of Directors Mr. Naresh Talwar Mr. Umesh Talwar Mr. Varun Talwar Mr. Anuj Talwar Mr. Navin Juneja Mr. Vidur Talwar Chairman Vice Chairman & MD Joint Managing Joint Managing Director & Group CFO Non-Executive Director Director Director Mr. Deepak Jain Mr Anil Kumar Mehra Mr. Amit Burman
Slide 25: Executive Management
Executive Management Mr. Manish Khanna Mrs. Seema Narang Chief Financial Officer Company Secretary A Qualified CA and MBA, he has over 17 years of experience with LeeBoy India She has over 29 years of experience in the secretarial department and has worked with Constructions, Doosan Infracore, Escor
Slide 26: Scope of Joint Ventures
Scope of Joint Ventures Rear Twist Beam Axle Fuel Hose Strut Mount Steering Bush Front Cross Members Engine Mount Suspension Arms Bush Wheel Group + Corner Module Air Hose Control Arms Knuckles Exhaust Hanger MMT MMT TMR TMR Existing Business Planned for Future Existing Business Planned for Future 2
Slide 27: Evolving Product Portfolio
Evolving Product Portfolio JV with Marugo Evolution Rubber Continues... Revenue FY07 JV with Magneti Marelli Hoses Hoses TA with SANWA Anti Vibration Anti Vibration Gasket 100% Acquired Sheet Metal, Products Products Entry into Forgings, JV with NLK - Gaskets Chassis Systems Chassis Systems Chassis
Slide 28: Hedged Customer Base
Diversified Customer - OEM 2 Wheeler Passenger Hedged Customer Base HCV/LCV Agri & Off Loader Agri & Off Loader 28
Slide 29: Customer Awards for Best Performances
Customer Awards for Best Performances ACMA Atmanirbhar Award from Jaguar Land Rover Award from Jaguar Land Rover Quality improvement JLKR-Q certificate-2021 Excellence Awards for Gasket Business 2022 for Forgings Business 2022 contest award – 2022 Kirloskar Oil Engines Ltd 2021 Quality improvement A
Slide 30: THANK YOU !
THANK YOU ! For further information, please contact: Company : Investor Relations Advisors : Talbros Automotive Components Ltd. Strategic Growth Advisors Pvt. Ltd. CIN: L29199HR1956PLC033107 CIN: U74140MH2010PTC204285 Ms. Seema Narang Mr. Deven Dhruva/ Ms. Hinal Kothari seema_narang@talbros.com deve
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