Cie Automotive India Ltd · NSE:CIEINDIA
Cie Automotive India — Mahindra CIE Automotive — Q1 CY2021 Earnings Presentation
28 slides from Cie Automotive India's earnings presentation, Apr 29, 2021
Slide 1: Exchange filing cover letter
Mahindra CIE Automotive Limited Suite F9D, Grand Hyatt Plaza (Lobby Level), Off Western, Express Highway, Santacruz (E), Mumbai- 400 055, India Tel: +91 22 62411031 Fax: +91 22 62411030 www.mahindracie.com mcie.investors@cie-india.com SEC/2021/048 29th April, 2021 BSE Limited National Stock Exchange
Slide 2: Q1 CY2021 Results
Q1 CY2021 Results 29 APRIL 2021 I MUMBAI
Slide 3: Disclaimer
Mahindra CIE Disclaimer Mahindra CIE Automotive Limited, herein referred to as MCAL provides a wide array of presentations and reports, with the contributions of various professionals. These presentations and reports are for informational purposes and private circulation only and do not constitute a
Slide 4: Index
Index 1 Overview 2 Q1 CY2021 Results 3 Market Update 4 SEBI Results 3
Slide 5: Overview
1 OVERVIEW CIE Automotive
Slide 6: Overview: Legal Structure
OVERVIEW LEGAL STRUCTURE MVML (M&M Subsidiary) and CIE through it’s subsidiaries 60.18% Promoter Group 11.44% 100% 100% 100% 100% 100% BF Precision Bill Forge de Aurangabad CIE Galfor Stokes Group Private Mexico S de Electricals S.A. Limited* Limited RL de CV Limited 100% 100% 99.96% 100% Mahindra U
Slide 7: Q1 CY2021 Results
2 Q1 CY2021 RESULTS CIE Automotive
Slide 8: MCIE India Q1 CY2021 Results
MCIE INDIA Q1 CY2021 RESULTS FINANCIAL UPDATE MARKET UPDATE (INR MIO) JAN-MAR 2021 CHANGE JAN-MAR 2020 OCT-DEC 2020 JAN-MAR 2021 JAN-MAR 2021 v/s v/s SALES 10,488 41% 7,440 9,702 JAN-MAR 2020 OCT-DEC 2020 <6T 22.8% -0.8% EBITDA* 1,621 67% 970 1,483 MHCV 95.9% 50.5% EBITDA% 15.5% 13.0% 15.3% Tractors
Slide 9: MCIE Europe Q1 CY2021 Results
MCIE EUROPE Q1 CY2021 RESULTS FINANCIAL UPDATE MARKET UPDATE (INR MIO) JAN-MAR 2021 CHANGE JAN-MAR 2020 OCT-DEC 2020 JAN-MAR 2021 JAN-MAR 2021 SALES 10,375 21% 8,593 8,951 v/s v/s JAN-MAR 2020 OCT-DEC 2020 EBITDA* 1,441 60% 901 1,066 <6T -0.3% -10.7% MHCV* 5.6% -5.2% EBITDA% 13.9% 10.5% 11.9% EBIT*
Slide 10: MCIE Consolidated Q1 CY2021 Results
MCIE CONSOLIDATED Q1 CY2021 RESULTS (INR MIO) JAN-MAR 2021 CHANGE JAN-MAR 2020 OCT-DEC 2020 SALES 20,863 30% 16,033 18,653 EBITDA* 3,062 64% 1,871 2,549 EBITDA% 14.7% 11.7% 13.7% EBIT* 2,179 106% 1,056 1,668 EBIT% 10.4% 6.6% 8.9% EBT* 2,037 133% 874 1,612 EBT% 9.8% 5.4% 8.6% (*) EBITDA: Net Operatin
Slide 11: Other Details
OTHER DETAILS OTHER OPERATING REVENUE, OTHER INCOME AND EXCHANGE RATES For Q1 CY2021 (INR Mio) INDIA EUROPE CONSOLIDATED Other Operating Revenue 656 375 1,031 Other Income 97 96 193 EXHANGE RATES PERIOD INR/ EURO Average for Q1 CY21 88.05 Average for Q4 CY20 88.05 As on 31 Mar’ 2021 86.05 10
Slide 12: Tax Adjustment Effect in Q1C21 - Goodwill
TAX ADJUSTMENT EFFECT IN Q1C21 - GOODWILL The Finance Act, 2021 has introduced an amendment to section 32 of the Income Tax Act, 1961, whereby Goodwill of a business will not be considered as a depreciable asset and depreciation on goodwill will not be allowed as deductible expenditure effective Apr
Slide 13: Market Update
3 MARKET UPDATE CIE Automotive
Slide 14: Short Term Perspectives - India
SHORT TERM PERSPECTIVES - INDIA India is facing the second wave of CoViD infections. This wave is more severe than the one last year. However, the demand scenario remains optimistic END DEMAND ▪ Potential short term demand push back. Lost volumes recovery expected before the end of the year ▪ Rural
Slide 15: India Market: Key Segments Update - Quarterly
INDIA MARKET: KEY SEGMENTS UPDATE - QUARTERLY MARKET PRODUCTION NUMBERS <6T Vehicles** MHCV Tractors Two Wheelers PERIOD Million Units Δ% Units Δ% Units Δ% Units Δ% Q1 CY2021 1.17 22.8 87,565 95.9 295,301 52.9 5,649,204 29.0 Q4 CY2020 1.18 23.1 58,198 15.5 291,169 62.1 5,884,063 17.7 Q3 CY2020 0.96
Slide 16: Market Outlook - India
MARKET OUTLOOK - INDIA • Passenger Vehicles ₋ Light Vehicles (less than 6 Tons – European Classification) Short Term: IHS forecasts production growth at a 30.7% between CY2020-CY 2021 Long term: IHS forecasts production growth at a CAGR of 11.0% over a period of 2020-2025 • MHCVs: Short Term: IHS* f
Slide 17: Europe Market: Key Segments Update - Quarterly
EUROPE MARKET: KEY SEGMENTS UPDATE - QUARTERLY MARKET PRODUCTION NUMBERS <6T Vehicles MHCV PERIOD Million Units Δ% Units Δ% Q1 CY2021 4.60 -0.3 122,918* 5.6 Q4 CY2020 5.15 1.6 129,636 -25.3 Q3 CY2020 4.27 -6.9 104,877 -34.3 Source: IHS Global Δ % - means comparison of Quarter volumes of this financi
Slide 18: Market Outlook - Europe
MARKET OUTLOOK - EUROPE • EU – Light Vehicles: ‒ IHS Global has forecasted that the Light Vehicle production will grow in CY21 by 12.8% as compared to CY20 ‒ and will grow at CAGR of 5.0% between CY20 to CY25 albeit on a lower base • EU – MHCV’s: ‒ IHS Global has forecasted* that the Europe MHCV pro
Slide 19: SEBI Results
4 SEBI RESULTS CIE Automotive
Slide 20: Statement of Profit & Loss Accounts - Consolidated
STATEMENT OF PROFIT & LOSS ACCOUNTS-CONSOLIDATED Rs. in M illion Consolidated Quarter Ended Year Ended Particulars 31 M arch, 2021 31 December, 2020 31 M arch, 2020 31 December, 2020 Un Audited Un Audited Un Audited Audited I Revenue from operations 21,894 19,576 16,627 60,501 II Other Income 194 74
Slide 21: Statement of Profit & Loss Accounts - Consolidated Cont'd
STATEMENT OF PROFIT & LOSS ACCOUNTS-CONSOLIDATED CONT’D Rs. in M illion Consolidated Quarter Ended Year Ended Partic ulars 31 M arc h, 2021 31 Dec ember, 2020 31 M arc h, 2020 31 Dec ember, 2020 Un Audited Un Audited Un Audited Audited VII Profit after tax (V-VI) 101 1,119 627 1,066 Disc ontinued op
Slide 22: Statement of Profit & Loss Accounts - Standalone
STATEMENT OF PROFIT & LOSS ACCOUNTS-STANDALAONE Rs. in Million Standalone Quarter Ended Year Ended Particulars 31 M arch, 2021 31 December, 2020 31 M arch, 2020 31 December, 2020 Un Audited Un Audited Un Audited Audited I Revenue from operations 8,529 7,565 5,786 21,448 II Other Income 27 37 78 197
Slide 23: Statement of Profit & Loss Accounts - Standalone Cont'd
STATEMENT OF PROFIT & LOSS ACCOUNTS-STANDALONE CONT’D Rs. in Million Standalone Quarter Ended Year Ended Particulars 31 March, 2021 31 December, 2020 31 March, 2020 31 December, 2020 Un Audited Un Audited Un Audited Audited VII Profit/(Loss) after tax (VII-VIII) (761) 598 324 740 VIII Other Comprehe
Slide 24: Segment Revenue Results
SEGMENT REVENUE RESULTS Rs. in M illion CONSOLIDATED Quarter Ended Year Ended 31 Dec ember, 31 Dec ember, 31 M arc h, 2021 31 M arc h, 2020 2020 2020 Un Audited Un Audited Un Audited Audited Partic ulars (Refer Note 8) 1 Segment Revenue a) India 11,320 10,384 7,952 29,704 b) Europe 10,750 9,305 8,80
Slide 25: Notes
NOTES Notes: 1 The statement has been prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2015 (Ind AS) prescribed under Section 133 of the Companies Act, 2013 and other recognized accounting practices and policies to the extent applicable. 2 In September 2018, the Board o
Slide 26: Notes Cont'd
NOTES CONT’D … 6 The subsidiaries and associate companies forming part of consolidated financial results of Mahindra CIE Automotive Limited (MCIE) are listed in "Annexure A" annexed herewith the statement. 7 The Consolidated and Standalone results for the quarter ended December 31, 2020 are the deri
Slide 27: Annexure A - Subsidiaries and Associate Companies
NOTES CONT’D … Annexure A - Subsidiaries forming part of the M ahindra CIE Automotive Limited (M CIE) Group and its Associate Companies S. No. Name of the entity Relationship % of Holding Country of Incorporation 31 March, 2021 1 Stokes Group Limited (SGL) Subsidiary of M CIE 100% UK 2 Stokes Forgin
Slide 28: Thank You
Mahindra CIlE Thank You mahindracie.com > CIE Automotive G
Mahindra CIE Automotive — Q1 CY2021 Earnings Presentation on 6ix