Minda Corp. Ltd. · NSE:MINDACORP
Minda — Q1 FY2025 Earnings Presentation
32 slides from Minda's earnings presentation, Aug 8, 2024
Slide 1: Exchange filing cover letter for earnings presentation
August 08, 2024 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: MIN
Slide 2: Minda Corporation Earnings Presentation August 2024
Minda Corporation EARNINGS PRESENTATION August 2024 w w w. s p a r k m i n d a . c o m
Slide 3: Minda at a Glance
Minda at a Glance A significant player in the global automotive industry for over six decades Vision ₹ 4,651 Cr ₹ 514 Cr 28 17,000+ Be a Dynamic, Innovative and Profitable global automotive FY24 Group Revenue FY24 EBITDA Manufacturing Plants Workforce organization to emerge as the preferred supplier
Slide 4: Indian Automotive Industry Performance
Indian Automotive Industry Performance Production Volumes in Millions Q1 FY25 Growth (Y-o-Y) Q1 FY25 Growth (Q-o-Q) 15.5% 2.6% 7.81 7.61 7.81 19.6% 6.1% 6.76 5.86 5.86 5.52 4.90 5.8% 10.3% 1.0% (1.4%) 9.4% 19.7% 13.4% 1.4% 1.14 1.20 1.34 1.20 0.26 0.26 0.25 0.25 0.21 0.23 0.22 0.26 0.29 0.25 0.24 0.
Slide 5: Q1FY25 Business Performance Key Strategic Developments
Q1FY25 Business Performance Key Strategic Developments Revenue growth of 11.0% YoY despite challenging macro-economic scenario EBITDA margin stood at 11.1% for Q1FY25, growth of 38bps YoY Total Lifetime Order-book exceeded INR 2,100 crores Signed Joint Venture agreement with HCMF for Automatic Sunro
Slide 6: New Age Products for PV: Sunroofs and Closure System
New Age Products for PV: Sunroofs and Closure System Signed Joint Venture Agreement Signed 50:50 JV agreement with HCMF (Taiwan), one of the leading player in the manufacture of automotive sunroof and closure systems. HCMF operates via its 29 Sales, technical and manufacturing facilities spread acro
Slide 7: Q1 FY25 Financial Snapshot
Q1 FY25 Key Performance Highlights Q1 FY25 Financial Snapshot Operating Revenue EBITDA PBT PAT INR 1,192 crores INR 132 crores INR 84 crores INR 64 crores 11% YoY 15% YoY 33% YoY 42% YoY Gross Margin EBITDA Margin PBT Margin PAT Margin 37.3% 11.1% 7.0% 5.3% 16 Bps YoY 38 Bps YoY 114 Bps YoY 115 Bps
Slide 8: Q1 FY25 Financial Highlights Growth Momentum Continues
Q1 FY25 Financial Highlights Growth Momentum Continues Rs. In Crores Revenue EBITDA PAT YoY YoY YoY 11% 15% 42% 1,215 1,192 71 139 1,075 132 64 115 45 11.4% 11.1% 5.8% 5.3% 10.7% 4.2% Q1 FY24 Q4 FY24 Q1 FY25 Q1 FY24 Q4 FY24 Q1 FY25 Q1 FY24 Q4 FY24 Q1 FY25 EBITDA EBITDA Margin (%) PAT PAT Margin (%)
Slide 9: Business Vertical Performance
Business Vertical Performance Rs. In Crores Mechatronics, Aftermarket and Others: Information & Connected Systems: YoY YoY 12% 10% 625 617 590 575 562 513 Die Casting Wiring Harness Safety Solutions Instrument Cluster Q1 FY24 Q4 FY24 Q1 FY25 Q1 FY24 Q4 FY24 Q1 FY25 o Strong demand in domestic 2W and
Slide 10: Revenue Break-Up
Revenue Break-Up By Products By Geography By End Market SE Asia Europe & North Q1 FY24 Q1 FY25 Others America 6% 10% 8% 2-3 Wheelers DCD WH 15% 35% 48% 47% Q1 Q1 FY24 FY24 Clusters 15% Commercial Vehicles Lockset India 25% 86% 28% 28% SE Asia Europe & North After Market Others America 5% 7% 12% 10%
Slide 11: Strategic Priorities To Deliver Strong Growth
Strategic Priorities To Deliver Strong Growth Focus On Innovation And Electric Vehicle Strengthening Enhancing The Core Technology Growth Opportunity Passenger Vehicle Offerings
Slide 12: Well Diversified Product Range
Well Diversified Product Range Expanding Core Verticals to Fuel Future Growth Driver 2W Information Vehicle System Access ADAS 4W iRAS Vehicle Sensor Access Starter Motor & Smart Alternator Electronics Sunroof & EV Mobility Power Lift ITS Gate 2W / 3W / 4W Fuel EV Motor EV Wiring Pump Housing Harnes
Slide 13: Strong Relationship With Marquee Customers Across Segments
Strong Relationship With Marquee Customers Across Segments 2-3-Wheeler Commercial & Off Highway Vehicles Passenger Vehicles Other Market Page 12
Slide 14: Strategic Priorities To Deliver Strong Growth
Strategic Priorities To Deliver Strong Growth Focus On Innovation And Electric Vehicle Strengthening Enhancing The Core Technology Growth Opportunity Passenger Vehicle Offerings
Slide 15: Innovation & Engineering for New Age Solutions
Innovation & Engineering for New Age Solutions R&D Expenditure (% of Revenue) Engineering Capabilities 3.0% Electronics Hardware 1.4% 1.3% 1.4% FY21 FY22 FY23 FY24 Mechatronics Engineering Transforming from mechatronics to advance technology provider 2 280+ 750+ Advanced Engineering Patents Filed En
Slide 16: Business Segments Transforming Current Business Lines
Business Segments Transforming Current Business Lines as per Technology Trends Vehicle Access Wiring Harness & Clusters, ADAS & Light Weight Die Casting EV Power Electronics Connectors Sensors & Interior Plastic Electrical Distribution Connected & Safe Light Weight & Connected & Safe Intelligent & S
Slide 17: Strategic Priorities To Deliver Strong Growth
Strategic Priorities To Deliver Strong Growth Focus On Innovation And Electric Vehicle Strengthening Enhancing The Core Technology Growth Opportunity Passenger Vehicle Offerings
Slide 18: Comprehensive Solutions for 2W EV
Comprehensive Solutions for 2W EV TFT Instrument Telematics Keyless Entry Cluster System TPMS TMAP Battery Charger Mechanical Lockset Product Under Development: Electronic ▪ Motor Controller Handle Lock EVSE ▪ Charging Gun Vehicle ▪ Body/Chassis Control Module Control Unit Die Casting ▪ Vehicle Cont
Slide 19: Targeting Increased Content Per Vehicle in EV
Targeting Increased Content Per Vehicle in EV Increase in Content for EV; Potential EV Kit Value EV Customers (All amount in INR) 6,000 - 7,000 22,000 - 27,000 8,000 - 10,000 Products under D evelopment** 2,000 - 2,500 2,000 - 3,000 New Product launched by 4,000 - 4,500 Spark Minda* Potential EV Inc
Slide 20: Strategic Priorities To Deliver Strong Growth
Strategic Priorities To Deliver Strong Growth Focus On Innovation And Electric Vehicle Strengthening Enhancing The Core Technology Growth Opportunity Passenger Vehicle Offerings
Slide 21: Comprehensive Solutions for 4W
Comprehensive Solutions for 4W Around view Sunroof Digital Clusters Antenna Interior Plastics EGT Sensor Monitoring System Key Fob Electronic Steering System Power Lift & Cockpit Column Lock Gate System IC CPD DC DC Converter Speed Sensor High voltage wiring EVSE harness connection system Telematics
Slide 22: Comprehensive Solutions for Commercial Vehicle/Bus
Comprehensive Solutions for Commercial Vehicle/Bus Digital/TFT Cluster Air Vent Battery Cables EV Busbars Position Sensor Intelligent Transport System EGT Sensor Immobilizer Soot Module Sensor Die Castings Ignition Switch Cum Steering Lock Cylinder Head Cover Speed Sensor Fuse Box Plastic Oil Pan Te
Slide 23: Schematic Representation of Minda Corporation
Schematic Representation of Minda Corporation Overseas (100% owned) 35.2% ASEAN Group Amalgamated Entities Public & Other ➢ Safety Security Division Shareholding ➢ Die Casting Division ➢ Starter Motors & Alternators Division ➢ Wiring Harness Division ➢ Interior Plastic Division ➢ After Market Divisi
Slide 24: Board of Directors Guiding The Way Forward
Board of Directors Guiding The Way Forward Mr. Ashok Minda Mr. Aakash Minda Chairman & GCEO Executive Director Over 38 years in the automotive component sector; has forged global collaborations and spearheaded ED of Group Finance and Strategy; an honours graduate from sustainable smart mobility proj
Slide 25: Leadership Team Driving Growth
Leadership Team Driving Growth Aakash Minda Vinod Raheja Jane Doe D. Suresh Jane Doe Ajay Singhroha Jane Doe Neeraj Sharma Jane Doe Jane Doe Executive Director Group CFO Group CTO Group CHRO Group Marketing Head Responsible for Over 30yrs of experience Over 27+yrs of global and do 24yrs+ of industry
Slide 26: CSR and ESG
CSR and ESG
Slide 27: ESG Transforming Towards Sustainable Mobility
ESG Transforming Towards Sustainable Mobility Sustainable Responsible Care For People Ethical Business Inclusive Growth Operations Value Chain Formation of Waste 2,352 youth trained on various Grievance redressal policy 5,021 accessible and assistive Total energy consumed from Management team skill
Slide 28: Corporate Social Responsibility
Corporate Social Responsibility Artificial limbs, calipers etc. were Student learning at Aakarshan (skill HP WOW: Digital education provided on the spot, under Saksham development & Livelihood Promotion initiative Scheme Programme) CSR and Sustainability Prison Programme Glimpse of CSR Representatio
Slide 29: Awards & Achievement – Q1 FY2025
Awards & Achievement – Q1 FY2025 Business Vertical – 1 Business Vertical – 2 Business Vertical – 5 (Mechatronics, (Information & (EME & SMGM) won Aftermarkets & others Connected System 11 Awards during division) won 46 awards division) won 37 Awards Q1FY25 during Q1 FY25 during Q1 FY25 ▪ QCFI - 21 A
Slide 30: Annexures
Annexures
Slide 31: Historical Income Statement Consolidated
Historical Income Statement Consolidated Particulars (INR Crores) FY21 FY22 FY23 FY24 Revenue from Operations 2,368 2,976 4,300 4,651 COGS 1,493 1,876 2,777 2,924 Gross Profit 875 1,100 1,523 1,727 Gross Profit Margin 37% 37% 35% 37% EBITDA 217 295 461 514 EBITDA Margin 9.2% 9.9% 10.7% 11.1% Depreci
Slide 32: 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