Precision Camshafts Ltd. · NSE:PRECAM
Precision Camshafts — Q3 FY2020 Earnings Presentation
40 slides from Precision Camshafts's earnings presentation, Feb 13, 2020
Slide 1: Submission of Investor Presentation to stock exchanges
® www.pclindia.in s info@pclindia.in where Passion ft +91 217 2357645 meets Performance ^^ +91 9168646531/32/33 PRECISION oh L24231PN1992PLC067126 Date: February 13, 2020 SEC/FEB/SE/N&B/2020 National Stock Exchange of India Limited, BSE Limited, "Exchange Plaza" 5th Floor, Phiroze Jeejeebhoy Towers,
Slide 2: Investor Presentation February 2020
Investor Presentation February 2020
Slide 3: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Precision Camshafts 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 s
Slide 4: Q3 & 9M FY20 Performance
Q3 & 9M FY20 Performance
Slide 5: Commenting on the results, Mr Yatin Shah, CMD
Commenting on the results, Mr Yatin Shah, CMD “ We continue to grow in international market by increasing our export sales, particularly machined camshafts wherein our entire proceeds of IPO has been invested into setting up of the machine shop.” This has resulted into increased profitability as Mac
Slide 6: Strong Performance
Strong Performance 9MFY20 Standalone 9MFY20 Consolidated 12% Total Income 15% Total Income YOY Rs. 351 Cr YOY Rs. 584 Cr 24% EBITDA 15% EBITDA YOY Rs. 92 Cr YOY Rs. 102 Cr 126% PAT 254% PAT Rs. YOY Rs. 51 Cr YOY 33 Cr 5
Slide 7: Standalone Q3FY20 Performance
Standalone Q3FY20 Performance Total Income (in Rs. Crores) EBITDA (in Rs. Crores) Includes Other Income Includes Other Income +4.9% +32.7 118.5 % 35.3 112.9 26.6 Q3FY19 Q3FY20 Q3FY19 Q3FY20 EBITDA Margins PAT (in Rs. Crores) +620 bps +206% 29.8% 24.8 23.6% 8.1 Q3FY19 Q3FY20 Q3FY19 Q3FY20 6
Slide 8: Standalone 9MFY20 Performance
Standalone 9MFY20 Performance Total Income (in Rs. Crores) EBITDA (in Rs. Crores) Includes Other Income Includes Other Income +12% +24% 351.1 91.8 314.7 73.9 9MFY19 9MFY20 9MFY19 9MFY20 EBITDA Margins PAT (in Rs. Crores) +260 bps +126% 23.5% 26.1% 50.6 22.4 9MFY19 9MFY20 9MFY19 9MFY20 7
Slide 9: Machined Camshafts volumes continues to improve
Machined Camshafts volumes continues to improve Machined Camshafts Volumes Camshaft Castings Volumes Total Camshaft Volumes (In Thousand Units) (In Thousand Units) (In Thousand Units) +27% ‐1% +9% 1,899 3,979 5,861 3,963 5,471 1,492 9MFY19 9MFY20 9MFY19 9MFY20 9MFY19 9MFY20 9MFY19 Volume 9MFY20 Volu
Slide 10: Standalone Q3FY20 Profit & Loss
Standalone Q3FY20 Profit & Loss Profit and Loss (in Rs. Crs) Q3FY20 Q3FY19 YoY Q2FY20 QoQ 9M FY20 9M FY 19 YOY Revenue from Operations 110.5 108.5 1.9% 108.1 2.2% 333.9 300.8 11.0% Other Income 7.9 4.5 4.7 17.3 13.9 Total Income 118.5 112.9 4.9% 112.8 5.0% 351.1 314.7 11.6% Cost of Goods Sold 30.4 3
Slide 11: Consolidated Q3FY20 Performance
Consolidated Q3FY20 Performance Total Income (in Rs. Crores) EBITDA (in Rs. Crores) Q3FY20 Revenue from Operations Includes Other Income Includes Other Income (in Rs. Crores) +7% +14% 197.8 38.1 197 184.6 33.3 25 44 Q3FY19 Q3FY20 Q3FY19 Q3FY20 118 10 EBITDA Margins PAT (in Rs. Crores) From continuin
Slide 12: Consolidated 9MFY20 Performance
Consolidated 9MFY20 Performance Total Income (in Rs. Crores) EBITDA (in Rs. Crores) 9MFY20 Revenue from Operations Includes Other Income Includes Other Income (in Rs. Crores) +14.5% +15% 584.5 102.5 584 510.5 89 74 129 9MFY19 9MFY20 9MFY19 9MFY20 351 30 EBITDA Margins PAT (in Rs. Crores) From contin
Slide 13: Domestic – Exports Mix – An Advantage
Domestic – Exports Mix – An Advantage 9MFY20 Standalone Revenue 9MFY20 Consolidated Revenue Geographic Break‐Up Geographic Break‐Up 28% 38% India India Outside India Outside India 62% 72% Our International Presence has helped us to be less affected from the ongoing auto slowdown especially the one o
Slide 14: Consolidated Q3FY20 Profit & Loss
Consolidated Q3FY20 Profit & Loss Profit and Loss (in Rs. Crs) Q3FY20 Q3FY19 YoY Q2FY20 QoQ 9M FY20 9M FY 19 YOY Revenue from Operations 188.9 179.5 5.3% 180.8 4.5% 566.8 495.4 14.4% Other Income 8.9 5.2 4.5 17.8 15.1 Total Income 197.8 184.6 7.1% 185.3 6.7% 584.5 510.5 14.5% Cost of Goods Sold 61.8
Slide 15: Historical Financial Performance
Historical Financial Performance
Slide 16: Standalone Profit & Loss Statement
Standalone Profit & Loss Statement Profit and Loss (in Rs. Crs) FY19 FY18 FY17 FY16 FY15 FY14 Revenue from Operations (Net of Taxes) 424 401 443 436 514 459 Other Income 17 25 31 22 11 12 Total Income 441 425 474 457 525 472 Cost of Goods Sold 125 128 138 131 167 149 Gross Profit 316 297 337 326 358
Slide 17: ROCE of Core Business
ROCE of Core Business Particulars (Standalone) in Rs. Crs. FY19 FY18 FY17 Total Equity = Share Capital + Reserves 602 570 552 Total Debt = Long Term + Short Term 27 22 67 Total Capital Employed (Debt + Equity) 629 592 619 Less ‐ Cash & Bank Balances 78 150 257 Less ‐ Long Term Investments 72 60 13 L
Slide 18: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement JV Financials are consolidated JV Financials are consolidated at profit level from FY16 as line by line item until FY15 Profit and Loss (in Rs. Crs) FY19 FY18 FY17 FY16 FY15 FY14 Revenue from Operations (Net of Taxes) 695 421 442 440 532 467 Other Income 18 25 31
Slide 19: About the Company
About the Company Click Here for Precision Camshafts Corporate Video
Slide 20: Precision Camshafts (PCL) ‐ Snapshot
Precision Camshafts (PCL) ‐ Snapshot MEMCO enjoys long term relationships with marquee global customers like Bosch, Delphi, Endress+Hauser and Giro Leading Products include fuel injection components for conventional & CRDi manufacturers of diesel engines, high precision instrumentation components et
Slide 21: Our Journey
Our Journey Incorporated 100% JV with China based Technical & Financial subsidiary in China Shenglong Automotive Made an IPO to Acquisition of Incorporation JV with G. Glancey, a – PCL (Shanghai) Powertrain Company get listed on MFT & EMOSS of PCL European camshaft Company Ltd. for Foundry Unit BSE
Slide 22: Group Structure
Group Structure Precision Camshafts Limited (Solapur, India) MEMCO Engineering Pvt Ltd PCL (International) Holding B.V., Nashik, India Netherlands Acquired in 2017 100% Holding 100% Holding Emoss Mobile Systems B.V. MFT Motoren und Fahrzeugtechnik GmbH Netherlands Germany Acquired in 2018 Acquired i
Slide 23: Strong & Experienced Board of Directors
Strong & Experienced Board of Directors Mr. Yatin Shah – Chairman & Managing Director Mr. Ravindra Joshi – Whole Time Director & CFO • Holds a B.Com from Bombay University and a MBA from Pune University • Holds a B.Com degree from Bangalore University & a • Over 32 years of experience in the auto co
Slide 24: Team Behind The Wheels
Team Behind The Wheels PCL Mr. Ajitkumar Jain Mr. Achyut Gadre GM, Production GM, Business Development & Projects • Holds a Bachelor of Science in Engineering from • Holds a Bachelor’s degree in production Shivaji University engineering from VJTI, Mumbai • Over 2 decades of work experience in • 21 y
Slide 25: Globally renowned for Camshafts
Globally renowned for Camshafts Product Portfolio Camshafts Camshaft is a critical component that is necessary for the functioning of an engine and its demand is highly dependent on automobiles demand as it is required in all internal combustion engines Chilled Cast Iron Camshaft – 4 cylinder Camsha
Slide 26: Camshafts Industry Overview
Camshafts Industry Overview Global Automotive Camshafts Market The global automotive camshaft market is projected to reach a size of US$ 4,462.2 million by the end of Global Camshafts Market for PV’s 2027, up from an estimated US$ 2,861.2 million in 2018 (in Million Units) The global automotive cams
Slide 27: Manufacturing Capacities
Manufacturing Capacities PCL Foundry India Facility (Solapur) Capacity (4 Foundries) 9 Mn. Units P.A PCL Machine India Facility (Solapur) Capacity (4 Machine Shops) 3.01 Mn. Units P.A Notes 1. Foundry Capacity has been reduced to 9 million per year due to change in product mix, increase in ductile i
Slide 28: Our Marquee Clients
Our Marquee Clients PCL Common MFT Common MEMCO All logos used are property of their respective owners and are used here for identification purpose only 27
Slide 29: EMOSS Clients
EMOSS Clients EMOSS All logos used are property of their respective owners and are used here for identification purpose only 28
Slide 30: Subsidiary Companies
Subsidiary Companies
Slide 31: Acquisitions to Drive Growth at PCL
Acquisitions to Drive Growth at PCL Our Acquisitions are aimed at creating strong alliances with leading global players to manufacture high‐quality products across a wide range of solutions enabling us to fine tune our manufacturing capabilities to improve efficiency and productivity Company 9MFY20
Slide 32: MEMCO
MEMCO PCL acquired 100 % Stake in Nashik based MEMCO Engineering Pvt. Ltd. for Acquisition Nashik Facility Rs. 40.6 Crores. This acquisition was funded through the internal accruals. Details Fuel injection components for conventional & CRDi diesel engines, brake Products components & high precision
Slide 33: Product Portfolio – MEMCO
Product Portfolio – MEMCO MEMCO Products Product Fuel injection components for conventional & CRDi diesel engines, brake components & high precision Portfolio instrumentation components Few Products Nozzle Holder Body Nozzle Retaining Nut Stainless Steel Components for Instrumentation / Equipment Br
Slide 34: MFT
MFT PCL acquired 76% Stake in Germany based MFT in March 2018 for Rs. 25 Acquisition Crores through its WOS ‐ “PCL (International) Holding B.V.” Germany Facility Details This acquisition was funded partly through internal accruals and debt Balancer Shafts, camshafts, bearing caps, engine brackets &
Slide 35: Product Portfolio – MFT
Product Portfolio – MFT MFT Products Product Balancer Shafts, camshafts, bearing caps, engine brackets & several non engine prismatic components Portfolio Few Products Balancer Shafts • Fully machined, hardened and balanced (vertical and horizontal) • Forged, ductile iron Prismatic Components • Vari
Slide 36: EMOSS
EMOSS PCL acquired 51% Stake in Dutch based EMOSS in May 2018 for Rs. 58 Acquisition Crores through its WOS ‐ “PCL (International) Holding B.V.” Netherland Facility Details This acquisition was funded partly through internal accruals and debt EMOSS is a one‐of‐a‐kind business that designs, develops,
Slide 37: Product Portfolio ‐ EMOSS
Product Portfolio - EMOSS ner cityitra Aepurestion HEERLUK, DAT GROENE RUDEN! . Sug ieee | atyeapplications em@ss 80 - 240 kWh « 7.5-27 tons @) 100 - 350 km 120 - 200 kWh + range extender Max. 50 tons 100 km extended range 500+ Digital development Integrated cockpit for all Emoss product Real-time o
Slide 38: Diversifying Client Base with Acquisitions
Diversifying Client Base with Acquisitions Client Base of PCL Standalone Client Base of PCL Group Revenue Contribution Revenue Contribution Endress & Hauser, CNH, 1% 1% General Motors, Others, 4% ESCORTS, 2% Escorts, 1% 17% MUSASHI, 2% PCL is diversifying Musashi, 2% Mahindra, 2% MAHINDRA, 3% its pr
Slide 39: Strategy to strengthen Brand PCL
Strategy to strengthen Brand PCL Explore existing products with 01 Cross Sell Clients added as a part of acquisitions Scale up EMOSS in mature Electric mobility markets across 02 Scale up EV Venture the globe and take a leading advantage Introduce new products to PCL 03 Diversify Product Offerings b
Slide 40: For further information, please contact
For further information, please contact: Company : Precision Camshafts Ltd. CIN ‐L24231PN1992PLC067126 Mrs. Mayuri Kulkarni cs@pclindia.in www.pclindia.in 39
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