Samvardhana Motherson International Limited · NSE:MOTHERSON

Samvardhana Motherson International — Motherson Sumi Systems — Q2 FY2021-22 Earnings Presentation

28 slides from Samvardhana Motherson International's earnings presentation, Nov 12, 2021

  1. Slide 1: Exchange filing cover letter for Q2 FY22 results

    Motherson Sumi Systems Limited Head Office: C-14 A & B, Sector 1, Noida – 201301 Distt. Gautam Budh Nagar, U.P. India Tel: +91-120-6752100, 6752278, Fax: +91-120-2521866, 2521966, Website: www.motherson.com November 12, 2021 National Stock Exchange of India Limited BSE Limited Exchange Plaza, 5th Fl

  2. Slide 2: Motherson Sumi Systems Ltd. Financial Performance Q2 FY 2021-22

    Proud to be part of. Motherson Sumi Systems Ltd. (MSSL) Financial Performance Q2 FY 2021-22

  3. Slide 3: Key Highlights

    • Key Highlights • Results Q2 FY21 vs Q2 FY22 • Reorganisation Update • Financial Highlights of Subsidiaries / JVs of SAMIL • Appendix

  4. Slide 4: Key Highlights 1/2. Financial Highlights (Q2FY22)

    Key Highlights 1/2. Recovery in India operations though global industry headwinds continue. Revenues of 14,881 crores and EBITDA of Rs 1,208 crores for Q2 Financial Highlights (Q2FY22). Consolidated SMRP BV • Quarterly revenues of Rs. 14,881 crores • EBITDA of Euro 71 million at 6.5% margin • Quarte

  5. Slide 5: Key Highlights 2/2. Operational Updates, Other Update

    Key Highlights 2/2. Operational Updates. Other Update. • Cost controls along with partial revenue recovery in India • Awaiting NCLT approval for next steps of (including SAMIL subsidiaries and JVs) have led to a proposed re-organization. strong operating performance despite headwinds. • Announced ac

  6. Slide 6: Diversification has helped limit the drop in revenues

    1 Diversification (3CX10) has helped limit the drop in revenues given the sharp declines in volumes across key geographies. Key Passenger Vehicle Markets Western Europe United States -22% QoQ -23% QoQ Consolidated revenues -11% QoQ 3.07 4.43 2.38 3.4 Jun-21 Sep-21 Jun-21 Sep-21 (Rs in Crores) 16,712

  7. Slide 7: Cost control measures and partial recovery in India have limited impact on consolidated profitability

    2 Cost control measures and partial recovery in India have limited impact on consolidated profitability. (Rs in Crores) Q2 impacted by OEM production Cost control disruptions and measures and EBITDA. higher partial recovery in logistics costs India have limited the overall adverse 11.4% 11.2% impact

  8. Slide 8: Controlled capex and improved efficiency helped generate free cash

    3 Controlled capex and improved efficiency helped generate free cash. (Rs in Crores) Annualized H1 EBITDA 5,532 in excess of 5,395 Capex control 5,015 Rs 5,000 crores with limited need despite multiple of incremental headwinds growth capex despite partial bunching up 2,685 in H1 2,670 2,194 1,932 Ca

  9. Slide 9: Leverage levels remain under control despite increase in Q2

    4 Leverage levels remain under control despite increase in Q2. (Rs in Crores) Net Debt to EBITDA (LTM) has increased due 14,00 0 1.8 to higher working capital and 1. 8 payout of Higher 12,00 0 1.5 working capital FY21 dividend 1. 6 1.3 requirements due to irregular 1. 4 10,00 0 1.2 1,251 OEM product

  10. Slide 10: Order Book remains robust with a rising share of EVs

    5 Order Book remains robust with a rising share of EVs. € 15.6 bn € 15.3 bn Share of EVs in closing order book* at 27% as EV product actions intensify. € 2.1 bn (€ 2.4 bn) Robust and stable Order Book as on SOP New Orders Order Book as on order pipeline 31.03.2021 H1 FY22 H1 FY22 30.09.2021 * Order

  11. Slide 11: Results Q2 FY21 vs Q2 FY22

    • Key Highlights • Results Q2 FY21 vs Q2 FY22 • Reorganisation Update • Financial Highlights of Subsidiaries / JVs of SAMIL • Appendix

  12. Slide 12: MSSL Consolidated: Q2FY21 vs Q2FY22

    MSSL Consolidated : Q2FY21 vs Q2FY22. (Rs in Crores) Revenues. 15,557 EBITDA. 14,881 10.0% 8.1% 1,553 1,208 Q2 FY 2020-21 Q2 FY 2021-22 Q2 FY 2020-21 Q2 FY 2021-22 PBT. PAT (Concern Share). (before exceptional items) 701 341 337 217 Q2 FY 2020-21 Q2 FY 2021-22 Q2 FY 2020-21 Q2 FY 2021-22 11 11

  13. Slide 13: MSSL Standalone: Q2FY21 vs Q2FY22

    MSSL Standalone : Q2FY21 vs Q2FY22. (Rs in Crores) Revenues. 2,207 EBITDA. 1,714 29% 16.3% 15.0% 332 279 Q2 FY 2020-21 Q2 FY 2021-22 Q2 FY 2020-21 Q2 FY 2021-22 PBT. PAT. (before exceptional items) 453 191 378 214- -112% -149% 214 262 152 Q2 FY 2020-21 Q2 FY 2021-22 Q2 FY 2020-21 Q2 FY 2021-22 Divid

  14. Slide 14: Domestic Wiring Harness (DWH): Q2FY21 vs Q2FY22

    Domestic Wiring Harness (DWH): Q2FY21 vs Q2FY22. (Rs in Crores) Revenues. EBITDA. 1,377 28% 13.5% 1,075 11.3% 186 121 Q2 FY 2020-21 Q2 FY 2021-22 Q2 FY 2020-21 Q2 FY 2021-22 PBT. 300 PAT. 30 0 (before exceptional items) 250 25 0 200 20 0 153 150 15 0 100 10 0 90 50 114 50 66 - - Q2 FY 2020-21 Q2 FY

  15. Slide 15: SMRPBV (In Euro Terms): Q2FY21 vs Q2FY22

    SMRPBV (In Euro Terms) : Q2FY21 vs Q2FY22. (In Million Euros) Revenues. EBITDA. 8.6% € 1,265 35%40. 0% € 1,089 6.5% 35. 0% 30. 0% € 109 25. 0% 20. 0% € 71 15. 0% 10. 0% 5. 0% 0. 0% Q2 FY 2020-21 Q2 FY 2021-22 Q2 FY 2020-21 Q2 FY 2021-22 PBT. PAT (Concern Share). (before exceptional items) € 40 90% 9

  16. Slide 16: SMP & SMR (In Euro Terms): Q2FY21 vs Q2FY22

    SMP & SMR (In Euro Terms) : Q2FY21 vs Q2FY22. (In Million Euros) SMP Revenues. SMP EBITDA. € 915 € 801 7.2% 23% 12% 6.4% € 66 € 51 Q2 FY 2020-21 Q2 FY 2021-22 Q2 FY 2020-21 Q2 FY 2021-22 SMR Revenues. SMR EBITDA. €350 €289 56. 0% 55. 0% 13.4% 54. 0% 53. 0% 52. 0% 51. 0% 50. 0% 49. 0% 48. 0% 47. 0% 4

  17. Slide 17: PKC (In Euro Terms): Q2FY21 vs Q2FY22

    PKC (In Euro Terms) : Q2FY21 vs Q2FY22. (In Million Euros) Revenues. EBITDA. € 283 € 263 8.7% 8% 286% 3.9% € 23 € 11 Q2 FY 2020-21 Q2 FY 2021-22 Q2 FY 2020-21 Q2 FY 2021-22 PBT. PAT (Concern Share). 100% 163% € 11 €8 (€ 3) (€ 5) Q2 FY 2020-21 Q2 FY 2021-22 Q2 FY 2020-21 Q2 FY 2021-22 16 16

  18. Slide 18: Debt Status

    Debt Status. A. Net Debt. Net Debt. Rs. In Mar-20 Sep-20 Mar-21 Jun-21 Sep-21 Crores 7,627 Gross Debt 11,770 13,102 10,745 10,445 11,060 7,496 6,897 6,158 Cash & Bank 4,873 5,606 5,938 4,287 3,433 4,807 (Rs. in Crores) Net Debt 6,897 7,496 4,807 6,158 7,627 B. Lease liabilities (not included in net

  19. Slide 19: MSSL Consolidated: H1FY21 vs H1FY22

    50,000 MSSL Consolidated : H1FY21 vs H1FY22. (Rs in Crores) Revenues. 31,594 EBITDA. 8.5% 25,000 23,988 32% 2,670 4.0% 968 - H1 FY 2020-21 H1 FY 2021-22 H1 FY 2020-21 H1 FY 2021-22 PBT. PAT (Concern Share). (before exceptional items) 949 506 (473) (705) H1 FY 2020-21 H1 FY 2021-22 H1 FY 2020-21 H1 F

  20. Slide 20: MSSL Standalone: H1FY21 vs H1FY22

    MSSL Standalone : H1FY21 vs H1FY22. (Rs in Crores) Revenues. 4,030 EBITDA. 88% 14.8% 2,145 8.2% 597 176 H1 FY 2020-21 H1 FY 2021-22 H1 FY 2020-21 H1 FY 2021-22 PBT. PAT. (before exceptional items) - 678 558 -1837% -1967% 27 35 - H1 FY 2020-21 H1 FY 2021-22 H1 FY 2020-21 H1 FY 2021-22 19 19 27

  21. Slide 21: Reorganisation Update

    • Key Highlights • Results Q2 FY21 vs Q2 FY22 • Reorganisation Update • Financial Highlights of Subsidiaries / JVs of SAMIL • Appendix

  22. Slide 22: Indicative Timelines for Scheme Execution

    Indicative Timelines for Scheme Execution. Record date and Listing and Appointed Proposal Tentative Issue of MSWIL trading of date for approved by NCLT MSWIL Announcement Demerger 1 shareholders approval Shares and MSSL Shares 2 shares 2nd July 1st April 29th April (T) (T+1 Month) (T+2 Months) 2020

  23. Slide 23: Financial Highlights of Subsidiaries / JVs of SAMIL

    • Key Highlights • Results Q2 FY21 vs Q2 FY22 • Reorganisation Update Financial Highlights of Subsidiaries / JVs of SAMIL • Appendix

  24. Slide 24: Proforma Financials

    200 8. 0% 150 6. 0% 100 4. 0% Proforma Financials* 3 50 2. 0% 0 0. 0% FY 20 FY 21 Q2FY21 Q1FY22 Q2FY22 All amounts in INR Crores SAMIL Business (ex MSSL ex.SMRP BV) Revenue EBITDA EBITDA % Margin Net Debt 2,800 2,651 13.2% 13.2% Aggregate 13.3% 11.6% 1,399 400 9.1% 14. 0% 1,290 1,260 Basis 1,192 350

  25. Slide 25: Appendix

    • Key Highlights • Results Q2 FY21 vs Q2 FY22 • Reorganisation Update • Financial Highlights of Subsidiaries / JVs of SAMIL • Appendix

  26. Slide 26: Summary Proforma Financials

    Summary Proforma Financials* (Rs in Crores) Financials (INR Crores) MSWIL MSSL MSSL Standalone ex Consolidated ex DWH Business SAMIL^(c) Combined (b+c) DWH (a) DWH(b) Q2 FY21 Q2 FY22 Q2 FY21 Q2 FY22 Q2 FY21 Q2 FY22 Q2 FY21 Q2 FY22 Q2 FY21 Q2 FY22 Revenue from operation 1,079 1,400 1,004 1,287 14,965

  27. Slide 27: Reference Rates, Notes & Safe Harbor

    Reference Rates, Notes & Safe Harbor. Copper Rates. Notes. Average Q2 2020-21 Q2 2021-22 % Change 1. This presentation has been prepared from the unaudited financial results for the quarter ended on 30th September 2021. Explanatory notes have been added with additional LME Copper (USD / MT ) 6,521 9

  28. Slide 28: Thank you

    motherson Thank you. Proud to be part of samvardhana motherson fl

Motherson Sumi Systems — Q2 FY2021-22 Earnings Presentation on 6ix