Gabriel India Limited · NSE:GABRIEL
Gabriel India — Q4 FY24 Earnings Presentation
57 slides from Gabriel India's earnings presentation, May 23, 2024
Slide 1: Exchange filing cover letter
Date: May 23, 2024 BSE Limited National Stock Exchange of India Limited 25th Floor, P. J. Towers, Exchange Plaza, Bandra Kurla Complex, Dalal Street, Bandra (E), MUMBAI – 400 001 MUMBAI – 400 051 (Company Code: 505714) (Company Code: GABRIEL) Sub: Disclosure under Regulation 30(2) of SEBI (Listing O
Slide 2: Gabriel India Ltd. Investor Presentation May 2024
Gabriel India Ltd. Investor Presentation May 2024 Gabriel India Ltd. | www.anandgroupindia.com/gabrielindia/ 1
Slide 3: Safe Harbor
SAFE HARBOR This presentation and the accompanying slides (the “Presentation”), has been prepared by Gabriel India Limited (the “Company”), solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form th
Slide 4: Table of Contents
TABLE OF CONTENTS 1 Q4 & FY24 Result Update 2 Corporate Overview 3 Business Overview 4 Strategy Going Forward Gabriel India Ltd. | www.anandgroupindia.com/gabrielindia/ 3
Slide 5: Q4 & FY24 Result Update
Q4 & FY24 Result Update Gabriel India Ltd. | www.anandgroupindia.com/gabrielindia/ 4
Slide 6: Financial Highlights – Q4 FY24
FINANCIAL HIGHLIGHTS – Q4 FY24 Q4 FY24 Revenue EBITDA PBT Rs. 769 Mn Rs. 700 Mn Rs. 8,586 Mn 9.0% 8.1% Q3 FY24 Rs. 8,138 Mn Q3 FY24 Rs. 720 Mn / 8.8% Q3 FY24 Rs. 593 Mn / 7.3% Q2 FY24 Rs. 8,644 Mn Q2 FY24 Rs. 753 Mn / 8.7% Q2 FY24 Rs. 630 Mn / 7.3% Q1 FY24 Rs. 8,058 Mn Q1 FY24 Rs. 690 Mn / 8.6% Q1 F
Slide 7: Financial Highlights – Q4 FY24
FINANCIAL HIGHLIGHTS – Q4 FY24 Revenue EBITDA PBT Rs. 8,586 Mn Rs. 769 Mn (9.0%) Rs. 700 Mn (8.1%) as compared to Rs. 7,370 Mn in as compared to Rs. 524 Mn in as compared to Rs. 450 Mn Q4 FY23 [+16.5%] Q4 FY23 [+46.8%] Q4 FY23 [+55.5%] Balance Sheet Cash Flow Capex Net Cash position of Rs. 2,995 Mn
Slide 8: Financial Highlights – FY24
FINANCIAL HIGHLIGHTS – FY24 Revenue EBITDA PBT Rs. 33,426 Mn Rs. 2,930 Mn (8.8%) Rs. 2,500 Mn (7.5%) as compared to Rs.29,717 Mn as compared to Rs. 2,137 Mn in as compared to Rs. 1,779 Mn in FY 23 YoY [12.5%] FY 23 YoY [37.1%] in FY 23 YoY [40.5%] Balance Sheet Cash Flow Capex Net Cash position of R
Slide 9: Financial Track Record
FINANCIAL TRACK RECORD P&L (Rs. Mn) Q4 FY24 Q4 FY23 YoY Q3 FY24 QoQ FY24 FY23 YoY Revenue from Operations 8,586 7,370 16.5% 8,138 5.5% 33,426 29,717 12.5% Gross Margin (%) 24.9% 23.8% 1.1% 25.5% -0.6% 25.1% 23.7% 1.4% EBITDA Margin (%) 9.0% 7.1% 1.9% 8.8% 0.2% 8.8% 7.2% 1.6% Net Margin (%) 6.1% 4.6%
Slide 10: Quarterly Performance Trend
QUARTERLY PERFORMANCE TREND Revenue (Mn) Margins 33,426 8.6% 8.7% 8.8% 9.0% 7.7% 8.1% 29,717 7.0% 7.3% 7.1% 7.4% 7.2% 7.1% 6.9% 8,586 5.5% 5.1% 6.7% 6.1% 7,370 5.0% 5.3% 5.4% 5.3% 4.6% 2.7% 4.6% 4.6% 4.5% 23,320 4.2% 4.2% 3.9% 4.1% Q2FY21 Q3FY21 Q4FY21 Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY2
Slide 11: Yearly Performance Trend
YEARLY PERFORMANCE TREND Revenue (Mn) 10.0% Margins 8.8% 7.4% 7.2% 8.0% 6.0% 6.3% 33,426 6.0% 29,717 4.0% 5.5% 4.5% 4.5% 3.6% 3.8% 23,320 2.0% 0.0% 20,765 FY20 FY21 FY22 FY23 FY24 18,699 EBITDA % PAT % 14,305 18,332 16,948 15,206 8,000 14,441 ROCE(%) 35.5% 7201 40.0% 7,000 31.3% 5834 26.1% 6,000 30.
Slide 12: Profit & Loss Statement
PROFIT & LOSS STATEMENT Particulars (Rs. Mn) Q4 FY24 Q4 FY23 YoY Q3 FY24 Q-o-Q FY24 FY23 Y-o-Y Revenue from Operations 8,586 7,370 16.5% 8,138 5.5% 33,426 29,717 12.5% Raw Material 6,452 5,612 6,066 25,051 22,688 Raw Material % to Sales 75.1% 76.1% 74.5% 74.9% 76.3% Employee Expenses 501 462 522 2,0
Slide 13: Cash Flows
CASH FLOWS Cash Flow from Operations (Rs. Mn) Cash Flow used in Investing (Rs. Mn) Cash Flow used in Financing (Rs. Mn) 2,039 1,701 523 1,889 1,364 1,197 1,201 980 962 1,038 337 928 950 278 261 241 428 217 FY 19 FY 20 FY 21 FY 22 FY23 FY24 FY 19 FY 20 FY 21 FY 22 FY 23 FY24 FY 19 FY 20 FY 21 FY 22 F
Slide 14: Balance Sheet
BALANCE SHEET Assets (Rs. Mn.) Mar-24 Mar-23 Mar-22 Equity and Liabilities Mar-24 Mar-23 Mar-22 (Rs. Mn.) Non-current assets 5,577 4,857 4,458 Equity 10,086 8,703 7,668 Current assets 10,543 9,423 9,073 Non-Current Liabilities 356 384 403 Total Assets 16,120 14,280 13,531 Current liabilities 5,678 5
Slide 15: Financial Track Record
FINANCIAL TRACK RECORD Revenue (Rs Mn) EBITDA (Rs Mn) & EBITDA Margin (%) PAT 3,500 9.0% 9.6% 9.3% 10.0% 29,717 33,426 8.6% 1852 8.1% 8.8% 3,000 7.4% 7.2% 8.0% 23,320 6.3% 20,765 2,500 6.0% 18,332 18,699 2,930 1,324 14,305 6.0% 16,948 2,000 1,713 1,778 2,137 950 14,441 15,206 1,461 1,376 1,459 827 9
Slide 16: Key Ratios
KEY RATIOS Return on Equity (%) Return on Assets (%) Fixed Asset Turnover (x) 11.2 10.6 11.5 19.8 10.4 18.4 18.1 18.0 18.4 9.7 9.8 7.2 16.1 8.8 9.3 15.2 6.6 5.9 5.8 13.0 11.7 6.6 5.3 5.2 5.2 5.1 5.7 4.4 8.7 5.1 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY 24 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY2
Slide 17: Revenue Mix (Inc. Trading)
REVENUE MIX (INC. TRADING) Segment Mix Channel Mix Aftermarket 2% 2% 2% 2% 2% 1% 12% 12% 12% 12% 11% 16% 10% 11% 12% 12% 12% 12% 11% 11% 10% 8% 8% 9% 13% 15% 12% 9% 10% 7% 21% 22% 23% 25% 27% 25% 35% 36% 37% 36% 37% 36% 83% 81% 84% 86% 85% 87% 67% 65% 63% 61% 62% 59% 42% 43% 43% 42% 43% 44% FY21 FY2
Slide 18: Vision 2025
VISION 2025 Exports Domestic Dominance Mergers & Acquisitions Technology Gabriel India Ltd. | www.anandgroupindia.com/gabrielindia/ 17
Slide 19: Our Strategic Business Drivers: Exports
Our Strategic Business Drivers Exports Gabriel India Ltd. | www.anandgroupindia.com/gabrielindia/ 18
Slide 20: Creating Global Presence Through Exports
CREATING GLOBAL PRESENCE THROUGH EXPORTS Export Sales - Quarter Leveraging Resource in Europe for Export order from DAF 316 relationship with 303 290 286 exploring Netherlands, VW 276 Global OEMs in India opportunities in 251 237 232 234 Russia commenced 219 208 228 218 to penetrate their Over
Slide 21: Our Strategic Business Drivers: Domestic Dominance
Our Strategic Business Drivers Domestic Dominance Gabriel India Ltd. | www.anandgroupindia.com/gabrielindia/ 20
Slide 22: YTD Segment Performance – 2W & 3W (incl. AM)
YTD SEGMENT PERFORMANCE – 2W&3W (INCL. AM) Performance • Q4 FY24 vs Q4 FY23 growth was 22%. This growth was contributed by good sales performance in OLA, TVS and Suzuki where we have high SOB. Recent Launches 61% %in toFY24Total Sales 31% Market in FY24 Share • Ather - Rizta [32% in FY23] [63% in FY
Slide 23: Gabriel India Ltd: Well-Entrenched Amongst All 2W/3W EV Players
GABRIEL INDIA LTD: WELL– ENTRENCHED AMONGST ALL 2W/3W EV PLAYERS Top Selling Models GIL Presence 1. Ola S1 Pro 2. TVS iQube 3. Ather 450X 4. Bajaj Chetak 5. Ampere Magnus EX 6. Okinawa Praise 7. Hero Electric Optima Source: smev.in/fy-23-24 19.05% 70% 7% 20% 27% Highest EV Sales in GIL SOB GIL SOB G
Slide 24: YTD Segment Performance – Passenger Vehicles (incl. AM)
YTD SEGMENT PERFORMANCE – PASSENGER VEHICLES(INCL. AM) Performance • Q4 FY24 vs Q4 FY23 growth was 8%. Segment observed growth with new launches within key customers and SUV segment gaining traction New Program 25% %in toFY24Total Sales 23% Market in FY24 Share • Maruti Suzuki: Jimny [23% in FY23] [
Slide 25: Gabriel Presence: Utility Vehicles
GABRIEL PRESENCE: UTILITY VEHICLES • Manufacturing Facility: Chakan & Khandsa • R&D Centre: Pune • Product Portfolio: McPherson struts, Gas Shock Absorbers, Volkswagen Steering Dampers Taigun Skoda Kushaq Toyota Hyryder • Commenced the technology of FSD (Frequency Selective Damping) in damper suppli
Slide 26: YTD Segment Performance – Commercial Vehicles
YTD SEGMENT PERFORMANCE – COMMERCIAL VEHICLES (INCL. AM & RAILWAYS) Performance • Moderate growth coming back slowly reflecting in better production volumes by OEMs 12% %in toFY24Total Sales 89% Market in FY24 Share New Program [12% in FY23] [89% in FY23] Mahindra-UPP-G1, E Jeeto & 3 Wheeler, TML-Co
Slide 27: Gabriel Presence – Railways
GABRIEL PRESENCE- RAILWAYS 2024 2007 2022 2016 2019 1978 2021 Conventional Coach EMU Coach LHB Coach Train 18 Coach Electric Locomotive Vande Bharat Coach Siemens E Loco Shox – 2 Variant Shox – 8 Variant Shox – 6 Variant Shox – 4 Variant Shox – 4 Variant Shox – 4 Variant Shox – 4 Variant 4 Nos / Coa
Slide 28: Aftermarket
AFTERMARKET Strong Brand Extensive Distribution Recent Widest Presence Through Equity Network Highlights Product Range Allied Products • Brand “Gabriel” • 10 CFA locations & 700+ • Achieved 7% growth over Q4 22- • Only Company present in all • Leveraging Brand 23. Sale Q4 (23-24) – 984 MINR the segm
Slide 29: Our Strategic Business Drivers: Merger & Acquisition
OUR STRATEGIC BUSINESS DRIVERS Merger & Acquisition Gabriel India Ltd. | www.anandgroupindia.com/gabrielindia/ 28
Slide 30: Profit & Loss Statement – FY 2023-24 (Subsidiaries)
PROFIT & LOSS STATEMENT – FY 2023-24 Inalfa Gabriel Sunroof Systems Private Limited Gabriel Europe Engineering Centre Particulars (MINR) FY24 % Particulars (MINR) FY24 % Revenue from Operations 599.8 Revenue from Operations 57.6 Raw Material 466.7 77.8% Other Expenses 49.2 85.3% Employee Expenses 59
Slide 31: IGSSPL Plant
IGSSPL PLANT Plant View Assembly Line PU Line Gabriel India Ltd. | www.anandgroupindia.com/gabrielindia/ 30
Slide 32: Our Strategic Business Drivers: Technology
OUR STRATEGIC BUSINESS DRIVERS Technology Gabriel India Ltd. | www.anandgroupindia.com/gabrielindia/ 31
Slide 33: Gabriel Europe Engineering Centre (GEEC)
GABRIEL EUROPE ENGINEERING CENTRE (GEEC) • Competence Centre for knowledge transfer and training • Centre of Excellence aiming to become Best in Class on Global Suspension Market • Joint development of Gabriel Next Generation Technologies with GIL R&D and global external partners • Located at Thor P
Slide 34: Gabriel Pune Tech Centre: IGBC Certified Green Building
GABRIEL PUNE TECH CENTRE: “IGBC” CERTIFIED GREEN BUILDING Gabriel India Ltd. | www.anandgroupindia.com/gabrielindia/ 33
Slide 35: Gabriel Tech Centre: Powering Our Future, Driving Possibilities
GABRIEL TECH CENTRE: POWERING OUR FUTURE, DRIVING POSSIBILITIES In-house facility for customers for ride tuning of vehicles Advanced damper technology for the enhanced user experience CO2 footprint reduction through product light weighting and use of green technologies Virtual analysis for s
Slide 36: Achieving Engineering Excellence
ACHIEVING ENGINEERING EXCELLENCE Laser Welding Technology, Friction Designed & Developed Remote Welding Technology, Water based Canister Shock Absorber Autophoretic Paint System Adjustable Electronic-Hydraulic Shock Absorbers with Shock Absorber for a leading SUV Floating Piston vehicle in Aftermark
Slide 37: R&D, Innovation and Technology: Essential Components for Strategic Evolution
R&D, INNOVATION AND TECHNOLOGY: ESSENTIAL COMPONENTS FOR STRATEGIC EVOLUTION At Gabriel India, our constant endeavors towards investing in R&D, innovation and technology are considered integral to our continuous improvement process. Our R&D technology centres at Hosur and Chakan ( recently launched)
Slide 38: Core Cost Reduction Drive
CORE 90 CORE 90 COST REDUCTION DRIVE Gabriel India Ltd. | www.anandgroupindia.com/gabrielindia/ 37
Slide 39: Awards & Accolades
Awards & Accolades (New Slide Added) Award from Piaggio for Best Development Support Award from HMSI for Quality Management Gabriel India Ltd. | www.anandgroupindia.com/gabrielindia/ 38
Slide 40: Corporate Overview
Corporate Overview Gabriel India Ltd. | www.anandgroupindia.com/gabrielindia/ 39
Slide 41: Gabriel at a Glance
GABRIEL AT A GLANCE Corporate Profile • Incorporated in 1961 • Pioneer of Ride Control Products in India with state-of-the-art integrated operations • Strong R&D focus, employing 72 specialists, highest in the industry • Experienced, professional management team and Board of Directors • Marquee clie
Slide 42: Strategic Manufacturing Footprint
STRATEGIC MANUFACTURING FOOTPRINT Khandsa - PC Parwanoo - 2W,CV,AM Sanand – 2W Dewas - CV,3W Nashik – 2W Chakan – PC,CV,3W GIL Plants GIL Satellite Locations *Maps not to scale. All data, information, and maps are provided "as is" without warranty or any representation of accuracy, timeliness or com
Slide 43: Strategic Manufacturing Footprint
STRATEGIC MANUFACTURING FOOTPRINT Chakan 2010/ Sanand 1997 Volkswagen, M&M, Toyota, Tata Motors, Bajaj 2019 Tata Motors, HMSI, Auto, Piaggio, DAF & Indian Railways . Dewas Hosur Khandsa Tata Motors, M&M, 1992 TVS, HMSI, Royal 1997 2007 Maruti Suzuki, Honda Cars Daimler, Force Motors, Enfield, Ashok
Slide 44: Competitive Advantages
COMPETITIVE ADVANTAGES Strong Parentage of Quality at Competitive Anand Group Price • Flagship company of ANAND Group, a one-stop • 7 state-of-the-art facilities in proximity to OEMs solution provider for customers ensures just-in-time supply as per demand while • Leverage partnerships, systems, pro
Slide 45: Relationships with Marquee OEM Customer Base
RELATIONSHIPS WITH MARQUEE OEM CUSTOMER BASE 2/3 Wheelers Passenger Cars CV & Railways Gabriel India Ltd. | www.anandgroupindia.com/gabrielindia/ 44
Slide 46: Safety Focus
SAFETY FOCUS Collaboration for training with British Safety Council Dexterity Centre for induction training App Based abnormality reporting Online work permit monitoring Safety House Standardization: Communication Training & Skill Continual Technology R&R and Consequence Development Improvem
Slide 47: Human Resources
HUMAN RESOURCES In-depth sectoral knowhow Mar’ Mar' Mar’ Mar’ Mar’ Key Metrics Seasoned Resources 24 23 22 21 20 Revenue per employee 0.72 0.66 0.61 0.43 0.51 (Rs Cr) Strong employee Average employee experience 8.0 8.0 8.0 9.0 8.0 connect (person years) Investment in training programmes 2.48 1.94 1.
Slide 48: Great Place to Work – Five Consecutive Years
“GREAT PLACE TO WORK” – FIVE CONSECUTIVE YEARS 2019 • Rank #90 among Top 100 Companies to work for in India 2018 • Rank #89 among Top 100 Companies to work for in India 2017 • Ranked in Top 25 workplaces in • Ranked #2 in Auto & Auto manufacturing in India Component Industry • Rank #52 among Top 100
Slide 49: Sustainability Mission
SUSTAINABILITY MISSION Mission TO BE CARBON & WATER NEUTRAL BY 2025 WITH ZERO WASTE TO LANDFILL Gabriel India Ltd. | www.anandgroupindia.com/gabrielindia/ 48
Slide 50: Sustainability
SUSTAINABILITY Reduction in Carbon Footprint 45 0.89 42.7 40 36.0 35.3 0.90 0.78 33.9 35 31.3 31.2 28.1 0.80 30 26.2 26.7 CUSTOMER 0.65 24.9 0.66 25 0.70 VALUE 21.7 21.5 19.5 20.0 20 17.3 15.6 14.1 15.5 13.5 0.49 0.60 0.54 15 0.48 0.47 12.9 0.48 23.4 0.46 15.4 0.50 0.50 10 13.4 12.5 13.3 0.37 12.8 5
Slide 51: Sustainability Report Launch
SUSTAINABILITY REPORT LAUNCH GABRIEL Launches its Second ‘Sustainability Report’ for 2022-23 Pillar Focus Area Ambition Governing Integrity Cyber Security By 2024, all sites to be ISO 27001 certified Ethical Business conduct By 2024, train all employees on Human Rights issues. Abating Environmental
Slide 52: CSR Initiatives 2023-24
CSR INITIATIVES 2023-24 Focus Parwanoo Gurugram Rewari Jawai Dewas Nashik Hosur Area Provide scholarships - - Engage with 09 govt. Engage with 4 govt. Engage with 10 govt. Engage with 02 govt. to ten girls to schools (1K+ schools (400 students) schools (800 students) to schools (300 continue their s
Slide 53: Board of Directors
BOARD OF DIRECTORS Anjali Singh Manoj Kolhatkar Jagdish Kumar Executive Chairperson Managing Director Group President & Group CFO Gabriel India Gabriel India ANAND Group Pradeep Banerjee Matangi Gowrishankar Pallavi Joshi Bakhru Mahua Acharya Non-Executive Non-Executive Non-Executive Non-Executive I
Slide 54: Executive Leadership
EXECUTIVE LEADERSHIP Manoj Kolhatkar Managing Director Amitabh Srivastava Rishi Luharuka Vinod Razdan Koen Reybrouck Anand Sontakke R. Vasudevan Prashant Shah Abdul Wahid Chief Operating Officer, Chief Financial Officer Head- Human Chief Technical Chief Operating Officer - Two Chief Operating Office
Slide 55: Customer Awards & Accolades
CUSTOMER AWARDS & ACCOLADES Special Award by Volvo ZERO KM PPM and Quality MSES-A Level Award Eicher Commercial Vehicles certification by Toyota Kirloskar by Mahindra & Limited Motor Mahindra Award for Pre "C" VA activity by Honda Motorcycle and Scooter Periodic Cost Reduction Award By Supplier Samr
Slide 56: Industry Awards & Accolades
INDUSTRY AWARDS & ACCOLADES Quality Excellence Award in 9th FICCI 45th International Convention Gabriel Gold in Manufacturing Excellence in Very Quality System excellence awards for India, Nashik received Platinum Award Large Category by Automotive Industry and National Conference by ICQCC Dhaka Com
Slide 57: For further information, please contact
For further information, please contact: Company : Investor Relations Advisors : Gabriel India Ltd. Strategic Growth Advisors Pvt. Ltd. CIN : L34101PN1961PLC015735 CIN : U74140MH2010PTC204285 Mr. Nilesh Jain Mr. Jigar Kavaiya / Pratik Shah secretarial@gabriel.co.in jigar.kavaiya@sgapl.net / p.s.shah