Ppap Automotive Limited · NSE:PPAP
Ppap Automotive — FY2024 Earnings Presentation
46 slides from Ppap Automotive's earnings presentation, May 19, 2024
Slide 1: Exchange filing cover letter
19th May, 2024 The Listing Department The Listing Department BSE Limited The National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, Dalal Street, Bandra Kurla Complex, Mumbai – 400001 Bandra (E), Mumbai - 400051 Symbol: 532934 Symbol: PPAP Subject: Analysts and Investors
Slide 2: PPAP Automotive Limited Investor Presentation – May 2024
PPAP Automotive Limited PPAP Automotive Limited TAKING CHALLENGES, TOGETHER INVESTOR PRESENTATION – MAY 2024
Slide 3: Safe Harbour
Safe Harbour This presentation and the accompanying slides (the “Presentation”), which have been prepared by PPAP Automotive Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any secu
Slide 4: PPAP at a Glance
PPAP at a Glance 45+ 5 50+ Years Of Legacy Varied Technologies Diversified Customers No. 1 Market Leader in Plastic sealing 5 2,600+ 5+ systems Business Segments No. of SKUs Electric Vehicles 10 225k 250+ Pan-India Operating SKUs Under Parts Shipped Per Day Facilities Development 3
Slide 5: Industry Highlights
Industry Highlights 1 • Total Domestic Passenger vehicle sales increased by 8.4% to 42.2 lakh units in FY24 compared to FY23, there was a notable increase of 25.8% in utility vehicle sales Passenger Vehicles • Out of the Passenger vehicles, Passenger cars sales declined by 11.4% in FY24 vs FY23 to 1
Slide 6: Financial Highlights
Financial Highlights 5
Slide 7: Management Commentary
Management Commentary Commenting on the results and performance for Q4 & FY24, Mr. Ajay Kumar Jain, Chairman & MD of PPAP Automotive Ltd said: “In FY24, our strategic initiatives yielded promising results, with revenue witnessing an increment from Rs. 492.3 crores in FY23 to Rs. 503.9 crores in FY24
Slide 8: Key Operational Highlights for the Year
Key Operational Highlights for the Year Won Overall Excellence award from MSIL Initiated export of Aftersales products 500+ new products launched in Aftermarket 74% Capacity Utilization Recommended dividend of Rs 1.25/Share for FY24 7
Slide 9: Standalone Performance Highlights Q4 and FY24
Standalone Performance Highlights Q4 and FY24 Revenue Operating EBIDTA PBT 8.8%` 9.1% 9.4% 1.9 127.1 132.3 12.4 119.7 11.2 10.9 1.5 0.2 Q4 FY23 Q3 FY24 Q4 FY24 Q4 FY23 Q3 FY24 Q4 FY24 Q4 FY23 Q3 FY24 Q4 FY24 9.3% 8.7% 9.0 492.3 503.9 45.6 43.8 3.2 FY23 FY24 FY23 FY24 FY23 FY24 8
Slide 10: Standalone Profit and Loss Statement
Standalone Profit and Loss Statement Particulars (INR cr) Q4FY24 Q4FY23 Y-o-Y (%) Q3FY24 Q-o-Q (%) FY24 FY23 Y-o-Y (%) Revenue from operations 132.3 127.1 4.1% 119.7 10.5% 503.9 492.3 2.3% COGS 78.1 77.0 70.1 299.1 300.8 Gross Profit 54.2 50.1 8.3% 49.6 9.3% 204.8 191.5 7.0% Gross Profit Margin 41.0
Slide 11: Standalone Balance Sheet
Standalone Balance Sheet Liabilities (INR cr) FY24 FY23 Assets (INR cr) FY24 FY23 Equity Non-Current Assets Property, Plant and Equipment 284.8 292.6 Equity Share capital 14.0 14.0 Capital work-in-progress 14.7 8.9 Other Equity 399.0 302.5 Other Intangible Asset 8.7 7.5 Non-Controlling Interest 0.0
Slide 12: Standalone Cashflow Statement
Standalone Cashflow Statement Particulars (INR cr) FY24 FY23 Net Profit Before Tax 3.2 9.0 Adjustments for: Non-Cash Items / Other Investment or Financial Items 42.5 35.9 Operating profit before working capital changes 45.7 44.9 Changes in working capital -7.5 -3.9 Cash generated from Operations 38.
Slide 13: Consolidated Profit and Loss Statement
Consolidated Profit and Loss Statement Particulars (INR cr) Q4FY24 Q4FY23 Y-o-Y (%) Q3FY24 Q-o-Q (%) FY24 FY23 Y-o-Y (%) Revenue from operations 135.7 132.3 2.6% 122.4 10.9% 522.9 511.1 2.3% COGS 80.0 82.3 71.5 312.9 313.6 Gross Profit 55.7 49.9 11.6% 50.9 9.5% 210.0 197.5 6.3% Gross Profit Margin 4
Slide 14: Consolidated Balance Sheet
Consolidated Balance Sheet Liabilities (INR cr) FY24 FY23 Assets (INR cr) FY24 FY23 Equity Non-Current Assets Equity Share capital 14.0 14.0 Property, Plant and Equipment 300.3 309.7 Capital work-in-progress 14.8 9.0 Other Equity 268.9 280.7 Other Intangible Asset 9.3 8.3 Non-Controlling Interest 0.
Slide 15: Consolidated Cashflow Statement
Consolidated Cashflow Statement Particulars (INR cr) FY24 FY23 Net Profit Before Tax -8.1 -5.1 Adjustments for: Non-Cash Items / Other Investment or Financial Items 49.1 48.6 Operating profit before working capital changes 41.1 43.5 Changes in working capital 1.3 -11.2 Cash generated from Operations
Slide 16: Segmental Overview
Segmental Overview 15
Slide 17: Business Segments
Business Segments Commercial Tool Industrial Products Li-on Battery Automotive Parts Aftermarket Room Business Business Core competence in developing Development of Plastic Injection Extension of core competence of 100% owned subsidiary of PPAP Development and sales of spare Automotive Bod
Slide 18: Segmental Revenue Breakup
Segmental Revenue Breakup FY23 FY24 Revenue Mix by Client for FY24 6.6% 5.5% 1.0% 6.0% 14.0% 2.0% 93.4% Parts 94.5% 3.0% Parts 0.0% Tools & Others Tools & Others 1.0% 57.0% 7.0% Q4 FY23 Q4 FY24 3.0% 5.5% 3.9% Maruti MG Motors Hyundai Renault + Nissan Tata Honda Kia Volkswagen+Skoda 94.5% Parts 96.1%
Slide 19: Product Portfolio – 4W Parts
Product Portfolio – 4W Parts PPAP SUPPLY PTI SUPPLY 18
Slide 20: Product Portfolio – 4W Parts
Product Portfolio – 4W Parts 19
Slide 21: Product Portfolio – 2W/3W Parts
Product Portfolio – 2W/3W Parts 20
Slide 22: Business Segments – Commercial Tool Room
Business Segments – Commercial Tool Room Key Highlights Glove Box State of the art Manufacturing facility for development of global level plastic injection molds Capacity to make mold up to 1.8 mtr Develop of molds for Automotive, Electrical, White Goods and Medical sector Reinforcement & C Pi
Slide 23: Business Segment – Industrial Product
Business Segment – Industrial Product Key Highlights Plastic parts for Machines / Robots Leveraging the use of existing plastic and rubber extrusion along with injection molding Started Export during last quarter 70+ product developed, 10+ under development Focus on developing the Sealings,
Slide 24: Business Segments – Li-on Battery
Business Segments – Li-on Battery Key Highlights AIS 516 Certified Battery for 2/3W State of art assembly facility AIS 156 Certified Battery Pack – 2 / 3 Wheeler application Leveraging the growth of Electric Vehicles, Solar Energy, Energy Storage systems Launched more than 10 products since
Slide 25: Business Segments – Aftermarket
Business Segments – Aftermarket Key Highlights 900+ SKUs Focus on expanding the domestic network as well as international market currently available under the categories of Started export in quarter 3 Interior and Exterior Accessories and Parts Launched 550+ more products in aftermarket in FY2
Slide 26: Product Portfolio – Aftermarket
Product Portfolio – Aftermarket Spare Parts Available Across Car Accessories • Premium Car accessories • Interior • Phone holder • Rear tray • Charger sockets • Perfumes • Steering Covers • Range of self use cleaning products • Glass cleaners • Wax polish • Touch up products 25
Slide 27: Esteemed Clientele
Esteemed Clientele Passenger Vehicle Commercial Wheeler Vehicle Two- V Wheelers Battery EV Two Systems Storage Battery Pack: Pack: VV Containers Tooling Pail Content per vehicle for Key OEMs Up to INR 3000 UP TO INR 6000 UP TO INR 5000 UP TO INR 8000 UP TO INR 2500 26
Slide 28: Company Overview
Company Overview 27
Slide 29: Board of Directors
Board of Directors Ajay Jain Abhishek Jain Deepak Kumar Sethi Vinay Kumari Jain Celine George Rohit Rajput Chairman and CEO and Independent Director Non-Executive Director Independent Director Independent Director Managing Director Managing Director • Bachelor of Commerce • Bachelor of Science in •
Slide 30: Journey Towards Excellence
Journey Towards Excellence 2023-2024 1978 – 1990 2002 – 2007 o Listed on BSE and 2015 – 2016 NSE o Established Plant - III o Established Plant - V (Surajpur) and Plant - (Vallam Vadgal) and o Conversion of IV (Pathredi) Plant VI (Ukhlod) partnership firm to o M&M, Renault Nissan o VW, Hyundai & Kia
Slide 31: Manufacturing Facilities
Manufacturing Facilities Noida, UP Plastic Extrusion Greater Noida, UP PVC / TPO / PP MATERIAL Chennai, TN Viramgam, GJ • 4 Locations; 15 Extrusion Lines • Bending technology, Welding technology, Chrome SUS extrusion and Notching technology Rubber Extrusion Noida, UP EPDM & TPV MATERIAL Greater Noid
Slide 32: Operating Locations Pan India Presence
Operating Locations Pan India Presence Note –Map not to scale. All data, information, and maps are provided “as is” without warranty or any representation of accuracy, timeliness or completeness. 31
Slide 33: PPAP – Strengths
PPAP – Strengths Strong R&D Capabilities Pioneering innovation, our strong Strategic & Technology R&D capabilities fuel our competitive Strong Distribution and edge, enabling us to shape the Driven Alliances industry landscape and meet Localisation Our commitment to strategic and evolving market dem
Slide 34: Environment, Social and Governance Review
Environment, Social and Governance Review 33
Slide 35: Approach & Strategy
Approach & Strategy Sustainable Strategy Sustainability for Long-Term Governance Structure 34
Slide 36: Sustainability Progress
Sustainability Progress 3268 GJ Renewable 16% CO, reduction 11132 KL 208.42 Tons Recycled Energy (Solar) used from base year 2019 Water saved input material used = nh Certified Great Place to 20.3 Average training 8% Women 125 Beneficiaries impact- Work Certified hours per employee in the workforce
Slide 37: Awards & Accolades
Awards & Accolades CPAP: * mT Sustainable Bronze medal BRSR Back Testing Benchmarking ie Excellence in (Score: 57; amongst ‘Appreciation Award Sronniaten heed Best Quality top 25%) EcoVadis, Institute of Chartered Accountants of India (ICAI) pee Asahi Glass Motor Pvt. Ltd. (yn of Technology ! I i al
Slide 38: Awards & Accolades
Awards & Accolades Quality Circle Bronze Award TKSA-Jan’24 1st Position in Kaizen Competition at TATA-Jan’24 Silver Award for Delivery from HCIL- Mar’24 Overall Performance Award MSIL-Apr’24 37
Slide 39: Historical Financials
Historical Financials 38
Slide 40: Standalone Profit & Loss Statement
Standalone Profit & Loss Statement Particulars (INR cr) FY24 FY23 FY22 Revenue from operations 503.9 492.3 409.1 COGS 299.1 300.8 247.1 Gross Profit 204.8 191.5 162.0 Gross Profit Margin 40.6% 38.9% 39.6% Employee Expenses 90.7 79.0 69.6 Other Expenses 70.2 66.9 53.3 EBITDA 43.8 45.6 39.0 EBITDA Mar
Slide 41: Standalone Balance Sheet
Standalone Balance Sheet Liabilities (INR cr) FY24 FY23 FY22 Assets (INR cr) FY24 FY23 FY22 Equity Non-Current Assets Property, Plant and Equipment 284.8 292.6 261.4 Equity Share capital 14.0 14.0 14.0 Capital work-in-progress 14.7 8.9 20.8 Other Equity 299.0 302.5 298.8 Other Intangible Asset 8.7 7
Slide 42: Standalone Cashflow Statement
Standalone Cashflow Statement Particulars (INR cr) FY24 FY23 FY22 Net Profit Before Tax 3.2 9.0 6.1 Adjustments for: Non-Cash Items / Other Investment or Financial Items 42.5 35.9 31.5 Operating profit before working capital changes 45.7 44.9 37.6 Changes in working capital -7.5 -3.9 6.3 Cash genera
Slide 43: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement Particulars (INR cr) FY24 FY23 FY22 Revenue from operations 522.9 511.1 421.9 COGS 312.9 313.6 255.8 Gross Profit 210.0 197.5 166.1 Gross Profit Margin 40.2% 38.6% 39.4% Employee Expenses 95.2 82.9 72.2 Other Expenses 75.1 70.6 55.2 EBITDA 39.7 43.9 38.6 EBITDA M
Slide 44: Consolidated Balance Sheet
Consolidated Balance Sheet Liabilities (INR cr) FY24 FY23 FY22 Assets (INR cr) FY24 FY23 FY22 Equity Non-Current Assets Equity Share capital 14.0 14.0 14.0 Property, Plant and Equipment 300.3 309.7 273.9 Capital work-in-progress 14.8 9.0 20.8 Other Equity 268.9 280.7 289.9 Other Intangible Asset 9.3
Slide 45: Consolidated Cashflow Statement
Consolidated Cashflow Statement Particulars (INR cr) FY24 FY23 FY22 Net Profit Before Tax -8.1 -5.1 0.1 Adjustments for: Non-Cash Items / Other Investment or Financial Items 49.1 48.6 36.7 Operating profit before working capital changes 41.1 43.5 36.9 Changes in working capital 1.3 -11.2 -5.3 Cash g
Slide 46: For further information, please contact
For further information, please contact Company : Investor Relations Advisors : CIN: L74899DL1995PLC073281 CIN: U74140MH2010PTC204285 Ms. Pankhuri Agarwal Mr. Aakash Mehta / Mr. Rahul Agarwal investorservice@ppapco.com aakash.s.m@sgapl.net / rahul.agarwal@sgapl.net +91 98706 79263 / +91 98214 38864