Slide 1: Minda Corporation Limited Investor Presentation
Minda Corporation Limited Driver Information (NSE: MINDACORP; BSE: 538962) And Telematics System Investor Presentation Safety, Security And Restraint System January 2018 Interior System Instrument Clusters Wiring Harness Locks Door Handles Starter Motors Al & Zn Casting Parts Plastic Component
Slide 2: Table of Contents
Table of Contents 1. Company and Business 2. Consolidated Performance 3. Future Growth Areas 4. Company Background 5. Our Team 6. Annexures Investor Presentation 2
Slide 3: Minda Corporation Limited (‘Minda Corp’)
Minda Corporation Limited (‘Minda Corp’) One of the leading auto component companies Listed on BSE and NSE H1 FY18 Turnover Rs. 12,783 mn (US$ 202 mn) Market Capitalisation* Approx. Rs. 44,583 mn (US$ 704 mn); Promoter Holding – 70.2% No. of Employees ~16,000 No of Plants India (28 plants), Europe (
Slide 4: Minda Corporation at a glance
Minda Corporation at a glance Group Businesses of Minda Corporation Minda Corp (Consolidated) Minda Management Services Limited (Corporate) Safety Security and Driver Information and Interior System After Market Restraint system Telematics System • Minda Corporation Ltd • Minda SAI Ltd. • Minda KTSN
Slide 5: Safety, Security and Restraint System
Safety, Security and Restraint System Companies Product Portfolio Key Customers & No of Plants • Bajaj Auto • TVS Minda Corp • Ashok Leyland 10 (Standalone) Complete Lock Lock for Off road Steering and Pannier Latches Gear Shift Compressor Housing Intake • Yamaha Kit Vehicles Glove Box Locks Lock Ma
Slide 6: Driver Information and Telematics System
Driver Information and Telematics System Companies Product Portfolio Key Customers & No of Plants • M&M • HMSI Minda SAI* • TVS 9 • Ashok Leyland Wiring Harness Solutions Terminals Battery Terminals Connectors Plastic Interiors • Hero Moto Corp • Maruti Suzuki Minda Furukawa • Renault-Nissan 3 • Hon
Slide 7: Interior Systems
Interior Systems Companies Product Portfolio Key Customers & No of Plants Minda KTSN Plastic Solution GmbH & Co. KG Steering Structural (Germany) Oil Sump Quick Connectors Middle Arm Rest Seat Panel Glove Box Ash Tray Cup Holder Column Parts Minda KTSN Plastic & Tooling • VW Group (Audi and Porsche
Slide 8: After Market
After Market Company Product Portfolio Door Handles Sensor Clutch Plates Control Cables 2/3W Locks Minda Automotive Solutions Ltd Wiper Blades Glow Plug Brake Shoe Wiring Harnesses Instrument Cluster Filters • Aftermarket sales contributes about 8% to the total revenues • Sales from Aftermarket is i
Slide 9: Key Markets
Key Markets Manufacturing facilities strategically located globally providing support to OEMs South East Asia Driver Europe 6.0% Safety and Information and Interior 25.0% Location Security System Telematics System System India 13 15 Europe 3 North America 1 India South East Asia 2 69.0% Total 15 15
Slide 10: Key Customers
Key Customers 2-3 Wheelers Passenger Vehicles Commercial & Off Others Highway Vehicles Revenue Breakdown by End Market (H1 FY2018) After Market 10.0% Passenger Vehicles 20.0% 2-3 Wheelers 38.0% Commercial & Off Highway Vehicles 32.0% Investor Presentation 10
Slide 11: Consolidated Performance
Consolidated Performance Investor Presentation 11
Slide 12: Regulatory Changes – Ind AS
Regulatory Changes – Ind AS Significant Changes on account of Ind AS • The company has adopted IND – AS w.e.f. April 01, 2017 and accordingly results for the previous period have been re-grouped / re-classified • Moved from line by line consolidation to equity method of accounting consolidation:- •
Slide 13: Consolidated Performance: Q2 FY2017-18 vs Q2 FY2016-17
Consolidated Performance Consolidated Financial Performance: Q2 FY2017-18 vs Q2 FY2016-17 Total revenues from operations increased by 10.9% y-o-y to Rs. 6,550 million (US$ 103 mn) EBITDA margins increased to 11.5% from 8.9% in the same period last year EBITDA increased by 43.2% y-o-y to Rs. 75
Slide 14: Consolidated Performance
Consolidated Performance Q2 y-o-y Q1 q-o-q Half Year Ended y-o-y (Rs. Million) FY2018 FY2017 Growth (%) FY2018 Growth (%) FY2018 FY2017 Growth (%) Revenue from Operations 6,550 5,908 10.9% 6,233 5.1% 12,783 11,137 14.8% Other Income 22 82 25 47 111 EBITDA 750 524 43.2% 443 69.3% 1,194 1,012 18.0% Ma
Slide 15: Revenue, EBITDA and Net Profit Commentary
Consolidated Performance Commentary – Q2 FY2017-18 vs. Q2 FY2016-17 6,550 5,908 Revenue • The revenues increased by 11% y-o-y in Q2 FY2017-18 on account of steady growth across business systems Q2 FY17 Q2 FY18 • EBITDA margin increased by 260 bps • Increased volumes across business systems 750 • Bet
Slide 16: Consolidated Sales of Key Subsidiaries H1 FY2018
Consolidated Performance Consolidated Sales for H1 FY2018 of Key Subsidiaries (In Rs. mn)* US$ 70 mn US$ 67 mn US$ 44 mn US$ 19 mn US$ 11 mn US$ 8 mn 4,421 4,264 2,788 1,174 680 515 Minda Corporation Minda SAI Minda KTSN Minda Automotive Asean Business Minda Autoelektrik Solutions Sales breakup for
Slide 17: Consolidated Annual Financial Performance Trend
Consolidated Annual Financial Performance Trend Revenue (Rs. mn) EBITDA (Rs. mn) US$ 252 mn US$ 311 mn US$ 386 mn US$ 467 mn US$ 25 mn US$ 33 mn US$ 35 mn US$ 31 mn 29,620 2,082 2,234 24,455 1,981 19,706 1,561 15,939 FY2014 FY2015 FY2016 FY2017 FY2014 FY2015 FY2016 FY2017 PAT (Rs. mn) US$ 13 mn US$
Slide 18: Consolidated Leverage Position
Consolidated Leverage Position Particulars (Rs. million) 30 Sept. 17 Long Term Borrowings 2,829 (US$ 45 mn) Short Term Borrowings 4,800 (US$ 76 mn) Total Debt 7,629 (US$ 120 mn) Less: Cash & Cash Equivalents 884 (US$ 14 mn) Net Debt 6,745 (US$ 106 mn) Net Worth 6,838 (US$ 108 mn) Net Debt / Net Wort
Slide 19: Operational Updates
Operational Updates Significant Orders Booked – Approx Rs. 12,000 mn Safety, Security and Driver Information and Interior Restraint System Telematics System System (Lifetime order worth approx. Rs. 6000 mn) (Lifetime order worth approx. Rs. 3600 mn) (Lifetime order worth approx. Rs. 2400 mn) • Addit
Slide 20: Future Growth Areas
Future Growth Areas Investor Presentation 20
Slide 21: Exports – Key Focus Area
Exports – Key Focus Area • Total Group Exports are expected to reach Rs. 500 Crores by FY2019-20. Growth in exports are majorly being witnessed in the legacy products under Safety, Security and Restraint System • The Group has approx. 30 satisfied customers in more than 20 countries including BorgWa
Slide 22: Acquisition of EI Labs, a connected mobility and IoT solutions Co.
Acquisition of EI Labs, a connected mobility and IoT solutions Co. • Acquired EI Labs India Pvt Ltd in August 2017 • Located in Bangalore, EI Labs India Pvt Ltd delivers interdisciplinary products in the connected mobility, ITS and IoT space • The acquisition will enable the group to • expand into f
Slide 23: Electrification Key Growth Drivers
Key Growth Drivers SMIT, Pune Connected Car Connected Commercial Vehicle / Tractor Connected Cluster Connected Mobility Immobilizer 2W-EFI Electrification 2w-ABS ADAS ISG Electronification Multifunction iRIS 1.0 / 2.0 Smart Key Virtual Key IOT- Genset ECU / BCM Investor Presentation 23
Slide 24: Future Growth Areas: Die Casting Plant and SMIT
Future Growth Areas MCL: Greenfield expansion for Die Casting Plant at Pune • Minda Corp (Die Casting - Pune) commenced commercial operations in Q2 FY2017-18 • Facilities include: • Aluminium Gravity and Low Pressure Die Casting with machining • Separate machine shop with focus on precision parts –
Slide 25: Minda KTSN: Greenfield Plant at Mexico and China JV
Future Growth Areas Minda KTSN: Greenfield Plant at Mexico • Minda KTSN (Interior System - Mexico) commenced commercial production in Q1 FY2017-18 • Total area of the plant is c. 17,320 sqm. • Received orders for the manufacturing of parts including Glove Box, St. Column, End Cap, Hang on parts and
Slide 26: Key Growth Drivers
Key Growth Drivers Focused approach to tap potential growth opportunities Incremental demand of electronics and technological advanced products such as EFI/EMS 1. Systems, ABS and CBS, EGT/EGRT Sensors, ISG, ADAS, connected cars, PM Sensors / Soot, Body Control Modules etc in non legacy product busi
Slide 27: Improvements and Potentials
Improvements and Potentials Improvement plan continues to be undertaken in FY2017-18 S. No Particulars 1 Minda Furukawa action plan for improvement underway 2 Optimization of employee cost 3 Increase in better margin business in export and electronics 4 Margin improvements in Minda KTSN Investor Pre
Slide 28: Annexures
Annexures Investor Presentation 28
Slide 29: Group Operating Structure
Group Operating Structure Minda Corporation Minda Minda Minda KTSN Minda Minda Minda SAI Management Furukawa Plastic Automotive Autoelektrik Ltd Services Electric (51%) Germany** Minda Stoneridge Minda VAST Access Minda KTSN Plastic (51%) Systems (50%) Poland EI Labs India Pvt Ltd Minda KTSN Plastic
Slide 30: Group at a glance
Group at a glance Category Product Portfolio Company End Market * Plant Locations / Offices Group Corp Corporate Office • Minda Management Services Ltd. - Gurgaon 2/3 W, CV, Tractors, Off Aurangabad (2), Greater Noida, • Minda Corporation Ltd. Road Vehicles Noida, Pant Nagar (2), Pune (4) Electronic
Slide 31: Our Team
Our Team Eminent and Experienced Board of Directors Mr. Ashok Minda Chairman and Group CEO Mr. Sudhir Kashyap Mr. R. Laxman Executive Director & CEO Director & Group President, Finance Mr. Avinash P. Mr. Rakesh Chopra Mr. Ashok Kumar Jha Ms. Pratima Ram Gandhi On the Board of GPR On the Board of Set
Slide 32: Our Team
Our Team Senior Management Description Ashok Minda • Over 30 years of experience in the Auto Industry Chairman and Group • Member of various Committees of the Company's Board CEO • The Group under the leadership of Mr. Minda broke new frontiers by joining hands with world renowned companies of USA,
Slide 33: Journey So Far
Journey So Far Our History - Long standing presence of over 5 decades Foundation of Group • Acquired 100% Acquired Sylea Automotive through Minda • JV with Furukawa, Japan to form Minda • Inaugurated the by Late Sh. S.L. equity of ‘Minda Wirelinks Pvt. Ltd. and consolidated as Furukawa Electric Pvt.
Slide 34: Investors Information
Investors Information Market Data (4 Jan 2018) No. of Shareholders 17,505 17,217 16,570 Market Cap. (Rs. mn) 44,583 (US$ 704 mn) 12,047 Outstanding Shares (mn) 209.3 7,951 5,387 5,670 52 week High/Low 229/86.10 4,325 Bloomberg / Reuters Ticker MDA:IN / MINC.NS Dec-15 Mar-16 Jun-16 Sep-16 Dec-16 Mar-
Slide 35: Analyst / Investor Plant Visit
Analyst / Investor Plant Visit Second Annual Plant Visit organized in Pune, Maharashtra for Equity Capital Markets Minda Corporation organized its second annual plant visit on 22nd September 2017 for research analysts and investors The plant visit included group companies – o Minda Stoneridge In
Slide 36: Corporate Social Responsibility
Corporate Social Responsibility Family Planning and Reproductive Health Spark Minda Foundation - Received 4th CSR Impact Award at Program India CSR Summit 2017 Inaugurated New Center and Beauty Culture Program Industrial Academia Partnership - MOU Industrial Academia Partnership - MOU at Aakarshan,
Slide 37: Key Investment Themes
Key Investment Themes High value, technologically advanced products; global presence with 34 plants Technological tie ups with global automotive component manufacturers Well diversified customer base, product portfolio and business segments Low leverage providing significant flexibility for organic
Slide 38: Thank You
Thank You This presentation contains statements that contain “forward looking statements” including, but without limitation, statements relating to the implementation of strategic initiatives, and other statements relating to Minda Corporation Limited (“Minda Corp” or the Company) future business de