Menon Bearings Limited · NSE:MENONBE
Menon Bearings — Q4 FY24 Earnings Presentation
35 slides from Menon Bearings's earnings presentation, May 14, 2024
Slide 1: Cover letter to stock exchanges
14th May, 2024 To, To, The Manager (CRD) The Manager – Listing Department BSE Limited, National Stock Exchange of India Ltd., Phiroze Jeejeebhoy Towers, Exchange Plaza, Bandra Kurla Complex, Dalal Street, Fort Bandra (East), Mumbai – 400001 Mumbai – 400051 Scrip Code: 523828 Symbol: MENONBE Dear Sir
Slide 2: Menon Bearings Limited Investor Presentation Q4 & FY24
Menon Bearings Limited Investor Presentation Q4 & FY24 1
Slide 3: Safe Harbour
Safe Harbour to purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with any contract or binding commitment whatsoever. No offering of securities of the Company will be made except by means of a statutory offering document containing detailed informat
Slide 4: Table of Contents
TABLE OF CONTENTS 01 Key Performance Highlights 02 Way Forward 03 About Us 04 Annual Financials 05 Annexure 3
Slide 5: Key Performance Highlights
Key Performance Highlights 4
Slide 6: Key Performance Highlights
Key Performance Highlights Revenue (Rs. in Crs) EBITDA (Rs. in Crs) PAT (Rs. in Crs) 216.94 32.72 206.25 50.53 42.18 25.69 13.72 9.18 53.87 49.38 52.18 9.50 10.53 5.59 6.47 Q4FY23 Q3FY24 Q4FY24 FY23 FY24 Q4FY23 Q3FY24 Q4FY24 FY23 FY24 Q4FY23 Q3FY24 Q4FY24 FY23 FY24 EBITDA Margin (%) PAT Margin (%) 2
Slide 7: Product Wise Highlights Q4&FY24
Product Wise Highlights Q4&FY24 Bimetal (Rs. In Crs) Alkop (Rs. In Crs) Braking Systems (New Segment) Rs. In Crs 63.09 159.57 57.37 4.51 143.16 2.12 16.23 1.43 39.89 34.36 35.96 13.98 15.02 Q4FY23 Q3FY24 Q4FY24 FY23 FY24 Q4FY23 Q3FY24 Q4FY24 FY23 FY24 Q3FY24 Q4FY24 FY24 Capacity Utilisation Capacity
Slide 8: Revenue Breakup Q4&FY24
Revenue Breakup Q4&FY24 Product Wise Channel Wise 0.0% 4.1% 2.7% 0.0% 2.1% 8.6% 8.8% 12.1% 8.6% 9.3% 7.1% 7.5% 6.4% 7.3% 26.0% 26.4% 8.3% 29.2% 30.3% 29.9% 27.0% 27.9% 29.9% 28.0% 28.1% 74.0% 73.6% 67.9% 66.7% 67.1% 57.4% 55.7% 51.5% 55.1% 55.4% Q4FY23 Q3FY24 Q4FY24 FY23 FY24 Q4FY23 Q3FY24 Q4FY24 FY
Slide 9: Standalone Income Statement Q4FY24
Standalone Income Statement Q4FY24 Particulars (Rs. in Crs) Q4FY24 Q3FY24 Q4FY23 YoY (%) QoQ (%) FY24 FY23 YoY (%) Revenue from Operations 52.18 49.38 53.87 -3.13 5.68 206.25 216.94 -4.93 Operating Expenses 28.80 28.34 28.77 0.08 1.63 116.73 122.85 -4.98 Employee Cost 8.90 8.81 8.06 10.42 1.04 35.23
Slide 10: Way Forward
02 Way Forward
Slide 11: Current Capacities & Capex Plan
Current Capacities & Capex Plan Bi-Metals Capacity Alkop Capacity Brake Capacity (lac pcs) (in lakhs) (in MT) (FY24) till FY25 15 Bi-Metal Alkop Division Division 40% 60% 486 486 1440 1440 1440 2.4 456 FY22 FY23 FY24 FY22 FY23 FY24 Brake Brake Lining Shoes Capacity Utilisation Capacity Utilisation C
Slide 12: Way Forward
Way Forward Expand New Capitalise on Focus on high Target growth in Capacities Products strong network margin products export markets 11
Slide 13: About Us
About Us 12
Slide 14: About Us
About Us Operates in 3 key business areas 151 160 143 1.Bimetal Products 110 2.Alkop (Aluminium Die Casting) 3.Braking Systems (Brake Lining & Brake Shoes) 57 63 38 45 Catering to industries not impacted by advent of EVs 4.5 1.Light & Heavy Commercial Vehicle Engines FY21 FY22 FY23 FY24 2.OTRs & Tra
Slide 15: Key Annual Financial Highlights
Key Annual Financial Highlights 1 2 3 Net Debt / Equity EBITDA Margins ROE 43% 32% 24% 20-22% 4 5 0.03 ROCE Dividend Payout 14
Slide 16: Key Business Highlights
Key Business Highlights 6 Units M&HCV , OTR ,Tractor, Industrial Oligopoly 24+ Countries / 30% Revenue 15
Slide 17: Board of Directors
Board of Directors Nitin Menon R. D. Dixit Arun Aradhye Executive Chairman Managing Director Whole Time Director & CFO Mr. Nitin Menon is an Mr. Dixit has worked with the Mr. Aradhye is associated with industrialist and has rich and Menon Group for more than the company for more than 12 varied exper
Slide 18: Diversified Marquee Clientele across Industries
Diversified Marquee Clientele across Industries Industry diversified revenue thereby reducing dependency on any Industry Engine & Commercial Electrical & Industrial Vehicle Tractors Exports Applications (HCVs & LCVs) No single customer contributes more than 10-12% of business The Brand Names mention
Slide 19: State of the Art Manufacturing Facilities
State of the Art Manufacturing Facilities 5 Plants in Kolhapur In-House Strategically located manufacturing Design & Development Facilities facilities in Kolhapur, Maharashtra, spread over an area of 27 acres Alloy Powder Manufacturing Warehouse & an Office Strip Manufacturing in Indianapolis, USA.
Slide 20: Bi-Metal Products
1. Bi-Metal Products Bearings Bushes Thrust Washers Bearings for Connecting Rods Truncated Bushes for Connecting Rods Washers with Thrust Face Contours Bearings for Crank shafts Ball Indented Bushes Ring Type Thrust Washers Flanged Bearings Bushes for Connecting Rods Trimetal Bearings Cam Shafts, Ro
Slide 21: Alkop (Aluminium Die Casting)
2. Alkop (Aluminium Die Casting) Aluminum Products with wide range of applications High Pressure Aluminum Die Cast & Machined Component Gravity/ Tilt Gravity Aluminum Die Cast & Machined Components Applications Automotive Compressors 2W/3W Oil & Gas Pumps Safety Engines Equipment 20
Slide 22: Braking Systems (new products)
3. Braking Systems (new products) New Product Line in eco-antifriction (asbestos free) materials and products like Brake Lining, Brake Shoes Asbestos Free Environment friendly Focus on M&HCV Segment; Aftermarket Eco-friendly brake friction materials are Company continues to focus on its strong formu
Slide 23: In-House Engineering & Development
In-House Engineering & Development In house Machine Engineering Department to Design 01 SPM, Tooling, Gauges & Fixtures Building Capability using Solid Works & Auto CAD which ensures First Time Right Samples & minimum development time In-House Tool Room In-house Tool Room consist of 02 Turning m/c,
Slide 24: Quality Assurance
Quality Assurance Inspection and Testing Quality Flow 23
Slide 25: Formidable Reach & Brand Equity in the After-Market
Formidable Reach & Brand Equity in the After-Market 24
Slide 26: Key Competitive Advantages
Key Competitive Advantages High Entry Barrier No Capacity Constraint Higher gestation in product approval Land parcel available for future cycle among suppliers due to growth expansion in newer technical nature of the products products segments to capture market growth In-house Machine Building Capa
Slide 27: Market Size & Opportunity
Market Size & Opportunity Domestic market size per annum Revenue (Rs. In Crs) Engine bearings ~Rs 1,000 crores 65.2 59.3 67.0 Aluminium casting products ~Rs 6,000 crores Brake segment ~Rs 2,000 crores 128.4 151.7 151.4 Exporting to 24+ Countries & plans to reach Africa & Latin FY22 FY23 FY24 America
Slide 28: Industry Growth Drivers
Industry Growth Drivers Growing per capita income driving demand Growing investments in Manufacturing Policy initiatives to drive manufacturing 27
Slide 29: Annual Financials
Annual Financials 28
Slide 30: Standalone Income Statement
Standalone Income Statement Particulars (Rs. in Crs) FY22 FY23 FY24 Revenue from Operations 195.40 216.94 206.25 Operating Expenses 116.22 122.85 116.73 Gross Profit 79.17 94.1 89.51 Gross Profit Margin (%) 40.52% 43.37% 43.40% Employee Cost 28.81 32.10 35.23 Other Expenses 10.28 11.46 12.11 EBITDA
Slide 31: Standalone Balance Sheet
Standalone Balance Sheet Equity & Liabilities(Rs. in Crs) FY22 FY23 FY24 Assets (Rs. in Crs) FY22 FY23 FY24 Share Capital 5.60 5.60 5.60 Property Plant & Equipment's 78.71 76.45 72.19 Reserves & Surplus 106.38 127.83 140.75 Capital Work in Progress 0.00 8.30 14.12 Total Equity 111.98 133.44 146.35 I
Slide 32: Annexure
Annexure 31
Slide 33: Customer Recognitions, Awards & Accolades
Customer Recognitions, Awards & Accolades 32
Slide 34: CSR & ESG Initiatives
CSR & ESG Initiatives Constructed an Auditorium at Future Emission Norms Gokul Shirgaon MIDC Facilities to produce next For promoting education & generation LEAD FREE materials employment and enhancing to cater to Future Emission Norms vocational skills among children, working professionals & women
Slide 35: Thank You
Thank You ® Menon Bearings Limited KAPTIFY Consulting CIN: L29130PN1991PLC062352 Strategy & Investor Relations | Consulting Mr. Arun Aradhye WTD & CFO (M):91=845 288 6099 | contact@kaptify.in admin@menonbearings.in www.kaptify.in 34