Ppap Automotive Limited · NSE:PPAP
Ppap Automotive — Q4 FY2019 Earnings Presentation
33 slides from Ppap Automotive's earnings presentation, May 25, 2019
Slide 1: PPAP Automotive Limited filing cover letter
PPAP Automotive Limited CIN No. L74899DL1995PLC073281 B-206A, Phase-II, Naida - 201305, Uttar Pradesh, India Tel: +91-120-2462552/53, Fax: +91-120-2461371 Email : info@ppapco.com, Website : www.ppapco.in zs" May, 2019 The Listing Departm The Listing Department BSE Limited National Stock Exchange of
Slide 2: Investor Presentation May 2019
Investor Presentation MAY 2019 PPAP Automotive Limited TAKING CHALLENGES, TOGETHER
Slide 3: Quarterly Financial Highlights (Qtr on Qtr)
QUARTERLY FINANCIAL HIGHLIGHTS (QTR ON QTR) ………. ………. Revenue from Operations • Revenue from operations increased by 6% and Part sales by 127.62 93.52 99.13 2.6% • PAT grew by 18.8% at ₹ 7.06 cr 0.17 • EBITDA at ₹17.21cr, 17.4% of sales 30.86 0.66 0.66 2.17 5.39 • EPS stands at ₹ 5.04 • Started supp
Slide 4: Annual Financial Highlights
ANNUAL FINANCIAL HIGHLIGHTS Revenue from operations ………. ………. 397.62 410.98 2.64 6.82 • Part sales grew by 9.4% at 388.62 cr 15.54 39.86 • Revenue from operations increased by 3.4% at ₹ 410.98 cr • PAT at ₹ 33.42 cr • EPS at ₹ 23.87, Final dividend at ₹ 2.50 per share • Started supplies for New Hond
Slide 5: Our Evolution
OUR ……….EVOLUTION ………. Our Mission “TO BE A GLOBAL COMPANY WITH AN INSPIRING WORK CULTURE FOR SERVING CUSTOMERS AND THE SOCIETY BY EXCEEDING THE EXPECTATIONS OF ALL ITS STAKEHOLDERS” Certification of ISO 50001 Established owned Incorporation of Technological tie up with Certification of TS 16949 Add
Slide 6: Who We Are
WHO ……….WE ARE ………. • Over 30 years of experience in Automotive Industry Rich Legacy • Identified as India’s leading manufacturer of Automotive Sealing Systems, Interior and Exterior Injection parts • Integrated operations from Print to Build Market Leadership • One stop shop for full range of Autom
Slide 7: Key Management
KEY ……….MANAGEMENT ………. Mr. Ajay Kumar Jain, Chairman & Managing Director Bachelor of Commerce from Shri Ram College of Commerce, Delhi University Associated with the Company since inception with experience of over 40 years in polymer processing industry and over 30 years in the automotive industry
Slide 8: Technology Partners
TECHNOLOGY ………. PARTNERS ………. NISSEN CHEMITEC CORPORATION, JAPAN TOKAI KOGYO CO. LTD., JAPAN Established: 1951 Established: 1947 Global Presence: USA, Thailand, Indonesia, Global Presence: USA, Thailand, Indonesia, Singapore China, Mexico, Vietnam AUTOMOTIVE EXTERIOR & SEALING PRODUCTS AUTOMOTIVE IN
Slide 9: Core Strengths
CORE ………. STRENGTHS ………. Leadership Position Strong Customer Base Strong R&D Facilities India’s leading manufacturer Leading OEM manufacturers in Capability from Design to Print of Automotive Sealing Systems Indian Market are customers State-of-the-art Access to Global Technology Healthy Financials
Slide 10: Strategic Growth Levers
STRATEGIC ………. GROWTH LEVERS ………. •Improve OEE (Overall Equipment Efficiency) Optimum utilization of Assets •International benchmarking •Our mantra “Every Paisa Counts” •Focus on cost optimization & operating leverage Continuous Improvement Levers of Optimization of sustainable of Operational Invest
Slide 11: Product Roadmap – Our Comprehensive Product Offering
PRODUCT ………. ROADMAP – OUR COMPREHENSIVE PRODUCT OFFERING ………. ROOF MOULDING GLASS RUN CHANNEL INNER BELT BACK DOOR / TRUNK MOULDING SEAL - PRODUCTS WINDSHIELD MADE BY PTI (JV) TRIM DOOR OPENING - PRODUCTS MADE BY PTI (JV) AIR SPOILER OUTER BELT BLACK / BRIGHT DOOR OPENING SEAL - PRODUCTS MADE BY PT
Slide 12: Product Roadmap – Our Comprehensive Product Offering
PRODUCT ………. ROADMAP – OUR COMPREHENSIVE PRODUCT OFFERING ………. UNDER HOOD PRODUCTS FR-PILLAR CTR-PILLAR RR-PILLAR PARTITION REAR TRAY LINING RR PANEL SIDE PROTECTORS TRUNK LINING IN CABIN PRODUCTS FENDER INNER DOOR LINING SPLASH GUARD 10
Slide 13: Pan India Presence
PAN ……….INDIA PRESENCE ………. 7 Plants 4 Locations 2 JV Plants EXTRUSION FACILITIES Noida, Uttar Pradesh (Plant I & II) Vallam Vadagal, Tamil Nadu (Plant V) 3 1 Viramgam, Gujarat 1 (Plant VII) INJECTION FACILITIES Surajpur, Uttar Pradesh 1 2 (Plant III) Pathredi, Rajasthan (Plant IV) Viramgam, Gujarat
Slide 14: Customer Base & Export Countries
CUSTOMER ………. BASE & EXPORT COUNTRIES ………. CKD EXPORTS JAPAN USA Brazil Mexico Venezuela Thailand United Kingdom South Africa Argentina 12
Slide 15: Customer Base: Our Presence in New Models
CUSTOMER ………. BASE OUR PRESENCE IN NEW MODELS ………. CUSTOMER CONTRIBUTION MG Hector New Honda Civic TWO… OTHERS , 4% HYUNDAI, 0% TATA, 3% TKML, 5% MSIL + SMG, 48% NISSAN , 7% Renault Nissan Kicks New Maruti Alto HCIL, 31% 13
Slide 16: Competitive Edge – State of the Art Manufacturing Facility
COMPETITIVE ………. EDGE – STATE OF THE ART MANUFACTURING FACILITY ………. PPAP’s Plastic Rubber Injection Engineering Extrusion Extrusion Molding Expertise EPDM & TPV MATERIAL PP / ABS / POM PVC / TPO / PP MATERIAL 2 Location: 3 Locations: 4 Locations; 11 Extrusion Lines 2 EPDM extrusion lines,1 TPV 41 M
Slide 17: Plastic Extrusion Plant, Injection Molding Plant
CONTD…… ………. ………. Plastic Extrusion Plant Injection Molding Plant 15
Slide 18: Customer Appreciation - Accolades
CUSTOMER ………. APPRECIATION - ACCOLADES ………. ACCOLADES FOR FY 2019 OVERALL PERFORMANCE SHIELD - MARUTI ZERO DEFECT SUPPLIES - TOYOTA KIRLOSKAR ACHIEVING TARGETS IN QUALITY - TOYOTA KIRLOSKAR APPRECIATION AWARD - HYUNDAI MOTOR INDIA LIMITED FIRST RUNNER UP AWARD IN NATIONAL LEVEL QUALITY CIRCLE COMPET
Slide 19: Summary
SUMMARY ………. ………. 140.00 127.62 120.00 118.64 22.5% 21.3% 99.13 100.00 20.4% 19.9% 93.52 90.22 • Revenue from operations registered a 80.00 17.6% 17.4% growth of 6% from ₹ 93.52 cr in Q3FY19 17.1% to ₹ 99.13 cr in Q4FY19 ₹ Cr. 15.0% 15.1% 60.00 13.7% • PAT stood at ₹ 7.06 cr in Q4FY19 11.0% 11.1% 40
Slide 20: Major Expense (₹ Cr.)
MAJOR ………. EXPENSE (₹ Cr.) ………. Materials Employee Benefits 53.5% 18.5% 18.3% 51.9% 51.3% 52.0% 17.4% 49.7% 17.0% 48.1% 15.6% 14.1% 43.42 68.28 49.54 61.52 47.99 51.50 15.37 17.94 17.33 18.56 17.28 18.15 Q3FY18 Q4FY18 Q1FY19 Q2FY19 Q3FY19 Q4FY19 Q3FY18 Q4FY18 Q1FY19 Q2FY19 Q3FY19 Q4FY19 Value % to R
Slide 21: Interest & Earnings (₹ Cr.)
INTEREST ………. & EARNINGS (₹ Cr.) ………. INTEREST EBITDA 22.5% 21.3% 19.9% 20.4% 17.1% 17.4% 1.2% 1.0% 1.1% 0.9% 0.9% 0.8% 19.26 28.68 19.88 24.15 15.96 17.21 1.07 0.99 1.05 1.31 0.84 0.85 Q3FY18 Q4FY18 Q1FY19 Q2FY19 Q3FY19 Q4FY19 Q3FY18 Q4FY18 Q1FY19 Q2FY19 Q3FY19 Q4FY19 Value % to Revenue Value % to
Slide 22: EPS, Book Value, Market Capitalization (BSE)
EPS, ……….BOOK VALUE, MARKET CAPITALIZATION (BSE) ………. EPS 10.06 Net Worth 210.79 204.08 202.97 8.26 198.97 192.65 6.32 181.46 5.84 5.04 4.24 22.81 26.72 28.81 30.49 28.89 23.87 254.05 269.71 278.56 285.72 284.15 295.11 Q3FY18 Q4FY18 Q1FY19 Q2FY19 Q3FY19 Q4FY19 Q3FY18 Q4FY18 Q1FY19 Q2FY19 Q3FY19 Q4FY
Slide 23: Key Ratios
KEY ……….RATIOS ………. Net Worth Working Capital 29.9% 58.40 51.41 53.14 20.9% 22.0% 45.48 43.25 44.97 18.8% 17.4% 16.2% 12.9% 12.7% 13.7% 12.2% 9.6% 8.4% 254.05 269.71 278.56 285.72 284.15 295.11 44.97 55.64 58.05 56.23 50.24 62.18 Q3FY18 Q4FY18 Q1FY19 Q2FY19 Q3FY19 Q4FY19 Q3FY18 Q4FY18 Q1FY19 Q2FY19
Slide 24: Annual Performance Summary
ANNUAL ………. PERFORMANCE SUMMARY ………. 397.62 410.98 Revenue from Operations (₹ Cr.) 397.62 410.98 26.72 21.3% 2.64 6.82 23.87 15.54 18.8% 39.86 15.5% 12.7% 9.4% 8.1% 355.12 388.62 FY18 FY19 FY18 FY19 FY18 FY19 Parts Tools Others REVENUE FROM OPERATIONS (₹ Cr.) FY18 FY19 EBITDA MARGIN EBIT MARGIN EPS
Slide 25: Annual Performance Summary
ANNUAL ………. PERFORMANCE SUMMARY ………. Debt Fixed Asset (Gross Block) Net worth 269.71 295.11 272.12 300.19 2.30 29.60 11.83 12.10 20.5% 24.60 10.48 16.4% 13.9% 11.3% 285.79 249.81 4.52 3.68 0.11 0.08 FY 2018 FY 2019 FY 2018 FY 2019 FY 2018 FY 2019 Debt Net Worth RONW ROCE Tangible Assets Intangible A
Slide 26: Result Summary – PPAP Tokai India Rubber Pvt Ltd. FY 2018-19
RESULT SUMMARY – PPAP TOKAI INDIA RUBBER PVT LTD. FY 2018-19 (₹ Cr.) ………. ………. PARTICULARS FY 2017-18 FY 2018-19 % Change CUSTOMER CONTRIBUTION OTHERS EXPORTS 1% TKML 2% INCOME 62.95 74.31 18.0% 3% EBITDA 6.24 5.23 -16.2% HCIL 30% PAT 3.80 .65 -83% EPS RS. .39 .07 -83% NET WORTH 96.99 97.63 0.7% MSI
Slide 27: Key Takeaways
KEY TAKEAWAYS ………. ………. • Revenue from operations grew by 3.4% at ₹ 410.98 cr • Part revenue grew by 9.4% at 388.62 cr • EBITDA at ₹ 77.2 cr • ROCE at 16.4 % , RONW at 11.3% • A healthy debt equity ratio of .08 demonstrates strong financial position of the company • PPAPs business grew by 9.4% despi
Slide 28: Financial Performance Snapshot (FY2015 – FY2019)
NANCIAL PERFORMANCE SNAPSHOT (FY2015 – FY2019) (₹ Cr.) Revenue from Operations 397.62 410.98 318.5 302.75 345.01 2.65 EBITDA 6.82 21.4% 4.16 39.86 0.15 2.33 15.54 19.3% 18.8% 30.44 17.2% 35.12 7.81 12.7% 388.62 355.12 292.61 310.41 283.23 40.36 52.06 66.61 84.88 77.20 FY 2015 FY 2016 FY 2017 FY 2018
Slide 29: Financial Performance Snapshot (FY2015 – FY2019)
FINANCIAL PERFORMANCE SNAPSHOT (FY2015 – FY2019) (₹ Cr.) Fixed Assets (Gross Block) 272.12 300.19 195.53 224.27 2.30 Working Capital 65.48 11.83 12.10 3.18 55.22 10.48 50.19 51.07 0.45 47.81 8.50 7.68 285.79 62.18 249.81 54.31 55.64 212.59 47.44 187.4 41.72 FY 2016 FY 2017 FY 2018 FY 2019 FY 2015 FY
Slide 30: Consolidated Financial Snapshot (FY 2016 – FY 2019)
CONSOLIDATED FINANCIAL SNAPSHOT (FY 2016 – FY 2019) (₹ Cr.) ………. ………. Earning Per Share (Rs.) 28.08 PAT 24.10 19.97 9.9% 8.1% 8.2% 10.02 4.4% 14.02 27.96 39.31 33.74 4.50 4.50 3.00 2.00 FY 2016 FY 2017 FY 2018 FY 2019 FY 2016 FY 2017 FY 2018 FY 2019 PAT PAT Margin EPS ₹ Dividend Market Capitalizatio
Slide 31: Shareholding Pattern as on 31st March, 2019
SHAREHOLDING PATTERN AS ON 31ST MARCH, 2019 ………. ………. 1.61 2.69 Promoter 8.55 0.73 Individual 22.38 Bodies Corporation 64.04 Foreign Corporation Foreign Portfolio Investor (Corporate) Others MARKET CAPITALIZATION (BSE) ₹ 401.38 CRS. 29
Slide 32: Safe Harbor
SAFE ………. HARBOR ………. Certain statements in this communication may be ‘forward looking statements’ within the meaning of applicable laws and regulations. These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially f
Slide 33: Thank You
For further information please contact: Mr. Manish Dhariwal PPAP Automotive Limited Ph: +91 120 2462552 / 53 Email: manish.dhariwal@ppapco.com Mr. Gaurav Girdhar THANK YOU Concept Investor Relations Ph: +91 7798232425, +91 022 40558934 Email: gaurav.g@conceptpr.com