Samvardhana Motherson International Limited · NSE:MOTHERSON
Samvardhana Motherson International — Motherson Sumi Systems — Q3 FY2018-19 Earnings Presentation
34 slides from Samvardhana Motherson International's earnings presentation, Feb 11, 2019
Slide 1: Exchange filing cover letter for Q3 results
C-14 A&B, Sector-1, Naida - 201301 Distt. Gautam Budh Nagar. (U.P.) India Tel: +91-120-6752100, 6752278 Fax: +91-120-2521866, 2521966 Website: www.motherson com Motherson Sumi Systems Limited CIN - L34300MH1986PLC284510 February 11, 2019 National Stock Exchange of India Limited SSE Limited Exchange
Slide 2: Presentation on Results Q3 FY 2018-19
Proud to be part of. Presentation on Results Q3 FY 2018-19 11th of February 2019
Slide 3: • Financial Highlights • Results Q3 FY18 vs Q3 FY19 • Results 9M FY18
• Financial Highlights • Results Q3 FY18 vs Q3 FY19 • Results 9M FY18 vs 9M FY19 • Debt status • Facilities status 2
Slide 4: Key Highlights
Key Highlights • Revenues by 14%, EBITDA by 13%, EPS by 7% • Revenues Outside India by 16% • SMP plant at Tuscaloosa(USA) has begun operations during the quarter Commenting on the results, Mr. V C Sehgal, Chairman, MSSL said “All of our operating businesses have performed well under current market c
Slide 5: • Financial Highlights • Results Q3 FY18 vs Q3 FY19 • Results 9M FY18
• Financial Highlights • Results Q3 FY18 vs Q3 FY19 • Results 9M FY18 vs 9M FY19 • Debt status • Facilities status 4
Slide 6: Change in Accounting Standards Ind AS 115 - Impact
Change in Accounting Standards Ind AS 115 - Impact • Ministry of Company Affairs has notified “New Accounting Standard – IND AS 115” (Revenues from contracts with customers) on 28th March 2018 applicable from 1st April 2018. • These results, being the first financial year after implementation of new
Slide 7: Impact of IND AS on Q3 Revenue
Impact of IND AS 115 on Q3 Revenue Consolidated Standalone SMP Revenues Revenues Revenues 17,548 23% 1,315 ^ # 14,271 # 1% 1,777 1,123 1,201* 1,760 63 * 94 ^ 25% 130^ # 897 139* # 16,234 # # 13,070 1,697 1,683 993 758 (Rs. in Crores) (Rs. in Crores) (Euro in Million) Q3 FY 17-18 Q3 FY 18-19 Q3 FY 17
Slide 8: MSSL Consolidated: Q3 FY18 vs Q3 FY19
MSSL Consolidated : Q3 FY18 vs Q3 FY19 (Rs. in Crores) Revenues EBITDA 14% 16,234 13% 14,271 1,376 1,415 - 127 14% 13% 14,494 12,534 1,415 1,249 1,737 1,740 Q3 FY 2017-18 Q3 FY 2018-19 Q3 FY 2017-18 Q3 FY 2018-19 Within India Outside India Reported EBITDA Start up cost PBT* PAT (Concern Share) 905 2
Slide 9: MSSL Standalone: Q3 FY18 vs Q3 FY19
MSSL Standalone : Q3 FY18 vs Q3 FY19 (Rs. in Crores) Revenues EBITDA 1,760 1,683 313 200 231 276 1,560 1,452 Q3 FY 2017-18 Q3 FY 2018-19 Q3 FY 2017-18 Q3 FY 2018-19 Domestic Exports PBT PAT 400 -10% 262 -19% 236 175 142 - Q3 FY 2017-18 Q3 FY 2018-19 Q3 FY 2017-18 Q3 FY 2018-19 8
Slide 10: SMRPBV: Q3 FY18 vs Q3 FY19
SMRPBV : Q3 FY18 vs Q3 FY19 (In Euro Terms**) (In Million Euro) Revenues EBITDA 8% € 1,390 € 1,289 € 111 2% € 96 € - € 17 8% 2% € 1,267 € 1,357 € 94 € 96 € 22 € 33 Q3 FY 2017-18 Q3 FY 2018-19 Q3 FY 2017-18 Q3 FY 2018-19 Within India Outside India EBITDA Start up cost PBT PAT (Concern Share) € 75 € 1
Slide 11: SMR: Q3 FY18 vs Q3 FY19
SMR : Q3 FY18 vs Q3 FY19 (In Euro Terms**) (In Million Euro) Revenues EBITDA 2% €392 €398 2% €371 €380 € 47 € 46 €21 €18 Q3 FY 2017-18 Q3 FY 2018-19 Q3 FY 2017-18 Q3 FY 2018-19 Within India Outside India 10 ** Please refer to Note on last slide.
Slide 12: SMP (including SMRC): Q3 FY18 vs Q3 FY19
SMP (including SMRC): Q3 FY18 vs Q3 FY19 (In Euro Terms**) (In Million Euro) Revenues EBITDA € 993 € 897 11% 11% 4% €69 €54 €17 €0 4% €52 €54 Q3 FY 2017-18 Q3 FY 2018-19 Q3 FY 2017-18 Q3 FY 2018-19 Reported EBITDA** Startup Cost Adjusted EBITDA {** After Start up cost for greenfield/ brownfield plan
Slide 13: PKC: Q3 FY18 vs Q3 FY19
PKC : Q3 FY18 vs Q3 FY19 (In Euro Terms**) (In Million Euro) Revenues EBITDA 8% € 292 € 271 € 25 47% 8% 47% € 17 Q3 FY 2017-18 Q3 FY 2018-19 Q3 FY 2017-18 Q3 FY 2018-19 PBT PAT (Concern Share) € 16 € 11 100% 83% €6 €8 100% 83% Q3 FY 2017-18 Q3 FY 2018-19 Q3 FY 2017-18 Q3 FY 2018-19 ** Please refer t
Slide 14: • Financial Highlights • Results Q3 FY18 vs Q3 FY19 • Results 9M FY18
• Financial Highlights • Results Q3 FY18 vs Q3 FY19 • Results 9M FY18 vs 9M FY19 • Debt status • Facilities status 13
Slide 15: Impact of IND AS on 9M Revenue
Impact of IND AS 115 on 9M Revenue Consolidated Standalone SMP Revenues Revenues Revenues 49,548 22% 3,898^ # 40,576 5,873 3,172* # 3,012 5,240 12% 283^ 18% # 388^ 193* 2,556 363* # 45,650 (Euro in Million) (Rs. in Crores) (Rs. in Crores) # 37,404 5,590 # 5,047 2,624 2,193 9M FY 17-18 9M FY 18-19 9M
Slide 16: MSSL Consolidated: 9M FY18 vs 9M FY19
MSSL Consolidated : 9M FY18 vs 9M FY19 (Rs. in Crores) Revenues EBITDA 13% 45,650 40,576 4,410 3,960 13% 283 313 40,063 13% 13% 35,470 4,127 3,647 5,106 5,587 9M FY 2017-18 9M FY 2018-19 9M FY 2017-18 9M FY 2018-19 Within India Outside India Reported EBITDA Start up cost PBT* PAT (Concern Share) 7%
Slide 17: MSSL Standalone: 9M FY18 vs 9M FY19
MSSL Standalone : 9M FY18 vs 9M FY19 (Rs. in Crores) Revenues EBITDA 7% 5,240 5,590 727 988 970 599 7% 4,641 4,863 9M FY 2017-18 9M FY 2018-19 9M FY 2017-18 9M FY 2018-19 Domestic Exports EBITDA PBT PAT 2% 1,200 -5% 885 902 800 637 603 400 - 9M FY 2017-18 9M FY 2018-19 9M FY 2017-18 9M FY 2018-19 16
Slide 18: SMRPBV: 9M FY18 vs 9M FY19
SMRPBV : 9M FY18 vs 9M FY19 (In Euro Terms**) (In Million Euro) Revenues EBITDA 2% € 3,723 € 3,804 € 307 € 297 2% € 42 € 35 € 3,664 € 3,720 € 265 € 262 € 59 -1% € 84 9M FY 2017-18 9M FY 2018-19 9M FY 2017-18 9M FY 2018-19 Within India Outside India EBITDA Start up cost PBT PAT (Concern Share) € 199
Slide 19: SMR: 9M FY18 vs 9M FY19
SMR : 9M FY18 vs 9M FY19 (In Euro Terms**) (In Million Euro) Revenues EBITDA 1% €1,168 €1,182 1% 2% €1,111 €1,125 2% € 130 € 132 €57 €57 9M FY 2017-18 9M FY 2018-19 9M FY 2017-18 9M FY 2018-19 Within India Outside India 18 ** Please refer to Note on last slide.
Slide 20: SMP (including SMRC): 9M FY18 vs 9M FY19
SMP (including SMRC): 9M FY18 vs 9M FY19 (In Euro Terms**) (In Million Euro) Revenues EBITDA 3% € 2,556 € 2,624 3% -4% €186 €173 €42 €35 €144 €138 9M FY 2017-18 9M FY 2018-19 9M FY 2017-18 9M FY 2018-19 Reported EBITDA** Startup Cost Adjusted EBITDA {** After Start up cost for greenfield/ brownfield
Slide 21: PKC: 9M FY18 vs 9M FY19
PKC : 9M FY18 vs 9M FY19 (In Euro Terms**) (In Million Euro) Revenues EBITDA 12% € 863 € 769 € 78 42% 12% € 55 42% 9M FY 2017-18 9M FY 2018-19 9M FY 2017-18 9M FY 2018-19 PBT PAT (Concern Share) € 50 48% € 34 85% € 23 € 27 85% 48% 9M FY 2017-18 9M FY 2018-19 9M FY 2017-18 9M FY 2018-19 ** Please ref
Slide 22: • Financial Highlights • Results Q3 FY18 vs Q3 FY19 • Results 9M FY18
• Financial Highlights • Results Q3 FY18 vs Q3 FY19 • Results 9M FY18 vs 9M FY19 • Debt status • Facilities status 21
Slide 23: Net Debt
Net Debt (Rs. in Crores) 31.03.2018 30.06.2018 30.09.2018 31.12.2018 Rs. In Crores Standalone Consolidated Standalone Consolidated Standalone Consolidated Standalone Consolidated Gross Debt 1,155 10,373 1,190 10,997 1,486 14,193 1,349 12,436 Cash & Bank 102 2,778 202 2,720 82 2,891 92 2,731 Net Debt
Slide 24: • Financial Highlights • Results Q3 FY18 vs Q3 FY19 • Results 9M FY18
• Financial Highlights • Results Q3 FY18 vs Q3 FY19 • Results 9M FY18 vs 9M FY19 • Debt status • Facilities status 23
Slide 25: Facilities Established Globally during the current 5 year plan
Facilities Established Globally during the current 5 year plan● 33 facilities established across 9 countries Germany China 3 5 1 USA 1 1 3 S. Korea Mexico 1 1 1 Thailand 2 8 3 Spain 3 Hungary India Legend Operational Under trial run / (since last update) shifting Operational before Operational durin
Slide 26: Status of facilities – Q3FY19
Status of facilities – Q3FY19● • Our largest plant at Tuscaloosa, USA has started commercial operations during the previous quarter • Construction of 4 plants (3 in India & 1 in Thailand) is almost completed and trial runs/shifting are in progress. These will commence full scale operations as planne
Slide 27: SMP Tuscaloosa - USA (1/2)
SMP Tuscaloosa - USA (1/2)● Q3 FY18-19 Manufacturing underway at SMP Tuscaloosa Certain portions of image has been blurred due Q3 FY15-16 Q1 FY16-17 Q3 FY16-17 Q1 FY17-18 Q3 FY17-18 Q1 FY18-19 to confidentiality agreement with customers Type: Greenfield Plant Product: Bumpers, Door panels, spoilers
Slide 28: SMP Tuscaloosa – USA (2/2)
SMP Tuscaloosa – USA (2/2)● Q3 FY18-19 Inside view of the SMP Tuscaloosa, Certain portions of image has been blurred due Q3 FY15-16 Q1 FY16-17 Q3 FY16-17 Q1 FY17-18 Q3 FY17-18 Q1 FY18-19 to confidentiality agreement with customers Type: Greenfield Plant Product: Bumpers, Door panels, spoilers 27 and
Slide 29: SMP Neustadt – Germany
SMP Neustadt – Germany● Q3 FY18-19 Manufacturing process aided by robots at SMP Neustadt plant Q1 FY17-18 Q3 FY17-18 Q1 FY18-19 Type: Expansion Product: Dashboard, Bumpers, Door Panels 28
Slide 30: Wire Manufacturing– Indore, India
Wire Manufacturing– Indore, India● Q3 FY18-19 Wire manufacturing plant at Indore is under trial run Q3 FY17-18 Q1 FY18-19 Type : Expansion Product : Wires 29
Slide 31: Wiring Harness – Indore, India
Wiring Harness – Indore, India● Q3 FY18-19 Wiring Harness plant at Indore is under trial run Q3 FY17-18 Q1 FY18-19 Type : Expansion Product : Wiring Harness 30
Slide 32: SMR – Chennai, India
SMR – Chennai, India● Q3 FY18-19 Shifting is under process at SMR Chennai plant Q3 FY17-18 Q1 FY18-19 Type : Relocation & New Facilities Product : Exterior & Interior Mirror, Mirror parts (Actuators) 31
Slide 33: Wiring Harness – Thailand
Wiring Harness – Thailand● Q3 FY18-19 Puja ceremony at Thailand plant of wiring harness Q1 FY18-19 Type : Relocation of the plant Product : Wiring Harness 32
Slide 34: Reference Rates, Notes & Safe harbor
Reference Rates, Notes & Safe harbor Copper Rates. Notes : Average Q3 2017-18 Q3 2018-19 % Change 1. This presentation has been prepared from the unaudited financial results for the quarter and nine months ended on 31st December LME Copper (USD / MT ) 6,808 6,168 (9.4%) 2018. Explanatory notes have
Motherson Sumi Systems — Q3 FY2018-19 Earnings Presentation on 6ix