Rane (madras) Limited · NSE:RML
Rane (madras) — Q3 FY19 Earnings Presentation
35 slides from Rane (madras)'s earnings presentation, Feb 13, 2019
Slide 1: Exchange filing cover letter
Registe.ecl ûff¡ce ïel : 91 44 ?811 2472 M¿]il,rr. . gr 44' jt,,1 ¿tÁg 'll? Cathedral RÐrd . al ;, chennâ; 600 tÌ8t, u(t ¡{ww taneg'ôLtp coî, ¡¡'dia. re C¡Sl : L€5993Tþ¡:t04 Pl C*5?å55 Kæne {}V?adras} fr-årmited //Online Submission// RML / SE / llg 12018-19 February 13, 201 g Dear Sir / Madam, sub:
Slide 2: Rane Group Earnings Presentation Q3 FY19
Rane Group Earnings Presentation | Q3 FY19 F e b r u a r y 2 0 1 9 www.ranegroup.com Not to be copied or distributed without permission of Rane Holdings Limited 1
Slide 3: Outline
Outline › Industry Performance Review – Q3 FY19 › Rane Group Performance Review – Q3 FY19 › Group Companies Performance Highlights – Q3 FY19 Not to be copied or distributed without permission of Rane Holdings Limited 2
Slide 4: Industry Performance Review (Q3 FY19)
Industry Performance Review (Q3 FY19) Production YoY Rane Group Sales Growth Rane Group Revenue Vehicle Segment Growth# in % YoY in % (India OEM) Split * (India OEM) Passenger Cars (PC) -9% -6% 40% Utility Vehicles (MUV) -13% -7% 18% - Total Passenger Vehicle -10% -6% 58% Vans (MPV) 23% 28% 1% Small
Slide 5: Outline
Outline › Industry Performance Review – Q3 FY19 › Rane Group Performance Review – Q3 FY19 › Group Companies Performance Highlights – Q3 FY19 Not to be copied or distributed without permission of Rane Holdings Limited 4
Slide 6: Group Aggregate Performance Review (Q3 FY19)
Group Aggregate Performance Review (Q3 FY19) Total Net Revenue (Rs cr.) EBITDA (Rs cr.) PBT* (Rs cr.) 12.7% 7.8% 8.4% 1,310.9 156.3 96.7 3.3% 1,231.7 6.4% 55.2% 29.9% 109.6 43.3 Q3 FY2018 Q3 FY2019 Q3 FY2018 Q3 FY2019 Q3 FY2018 Q3 FY2019 * PBT before exceptional items › Total Net Revenue increased b
Slide 7: RHL Consolidated Performance Review (Q3 FY19)
RHL Consolidated Performance Review (Q3 FY19) Total Net Revenue (Rs cr.) EBITDA (Rs cr.) PBT* (Rs cr.) 11.8% 11.3% 9.9% 5.5% 70.4 67.1 638.8 63.3 595.6 10.0% 47.4% 7.2% 35.3 Q3 FY2018 Q3 FY2019 Q3 FY2018 Q3 FY2019 Q3 FY2018 Q3 FY2019 * PBT before exceptional items and includes profits from JV › Tota
Slide 8: Group Aggregate Performance Review (YTD)
Group Aggregate Performance Review (YTD) Rs Cr 9M FY18 9M FY19 Growth Total Net Revenue 3,404.8 4,025.4 18.2% EBITDA 415.6 400.6 -3.6% EBITDA Margin 12.2% 10.0% -225 bps PBT Before Exceptional Items 236.2 208.2 -11.8% *Exceptional (Expenses) / Income 32.11 - PBT 268.3 208.2 -22.4% PBT Margin 7.9% 5.
Slide 9: RHL Consolidated Performance Review (YTD)
RHL Consolidated Performance Review (YTD) Rs Cr 9M FY18 9M FY19 Growth Total Net Revenue 1,650.2 1,929.3 16.9% EBITDA 189.9 186.3 -1.9% EBITDA Margin 11.5% 9.7% -185 bps PBT Before Exceptional Items 164.2 143.6 -12.5% *Exceptional (Expenses) / Income 15.7 - PBT 179.9 143.6 -20.2% PBT Margin 10.9% 7.
Slide 10: Outline
Outline › Industry Performance Review – Q3 FY19 › Rane Group Performance Review – Q3 FY19 › Group Companies Performance Highlights – Q3 FY19 Not to be copied or distributed without permission of Rane Holdings Limited 9
Slide 11: Rane (Madras) Ltd. (RML)
Rane (Madras) Ltd. (RML) Not to be copied or distributed without permission of Rane Holdings Limited 10
Slide 12: RML Standalone – Operational Performance Review
RML Standalone – Operational Performance Review Business Split (Q3 FY19) Market Environment By Market (%) › Indian automotive industry witnessed softening of demand particularly passenger Intl OEM, 23 India vehicle segment experienced decline in volumes OEM&OES, 64 › Lower offtake on served models f
Slide 13: RML Standalone – Financial Performance Review
RML Standalone – Financial Performance Review Total Net Revenue (Rs cr.) EBITDA (Rs cr.) PBT* (Rs cr.) 12.0% 6.2% 4.3% 10.4% 19.8 319.7 341.4 38.5 7.5% 26.0% 6.8% 35.6 14.6 Q3 FY2018 Q3 FY2019 Q3 FY2018 Q3 FY2019 Q3 FY2018 Q3 FY2019 * PBT before exceptional items › Total Net Revenue increased by 6.8
Slide 14: RML – Standalone Financials (YTD)
RML – Standalone Financials (YTD) Rs Cr 9M FY18 9M FY19 Growth Total Net Revenue 868.4 1,045.0 20.3% EBITDA 94.7 115.1 21.6% EBITDA Margin 10.9% 11.0% 11 bps PBT Before Exceptional Items 35.7 55.0 54.1% Exceptional (Expenses) / Income - - PBT 35.7 55.0 54.1% PBT Margin 4.1% 5.3% 115 bps PAT 25.3 38.
Slide 15: RML Consolidated – Financial Performance Review
RML Consolidated – Financial Performance Review Total Net Revenue (Rs cr.) EBITDA (Rs cr.) PBT* (Rs cr.) 9.7% 3.6% 7.5% 35.4 13.1 364.0 387.2 18.5% 6.4% 28.9 78.0% 0.7% 2.9 Q3 FY2018 Q3 FY2019 Q3 FY2018 Q3 FY2019 Q3 FY2018 Q3 FY2019 * PBT before exceptional items › Total Net Revenue increased by 6.4
Slide 16: RML – Consolidated Financials (YTD)
RML – Consolidated Financials (YTD) Rs Cr 9M FY18 9M FY19 Growth Total Net Revenue 1,005.2 1,185.2 17.9% EBITDA 95.3 101.1 6.1% EBITDA Margin 9.5% 8.5% -95 bps PBT Before Exceptional Items 25.6 27.0 5.2% Exceptional (Expenses) / Income - - PBT 25.6 27.0 5.2% PBT Margin 2.6% 2.3% -27 bps PAT 15.2 10.
Slide 17: Rane Engine Valve Ltd. (REVL)
Rane Engine Valve Ltd. (REVL) Not to be copied or distributed without permission of Rane Holdings Limited 16
Slide 18: REVL – Operational Performance Review
REVL – Operational Performance Review Business Split (Q3 FY19) Market Environment By Market (%) › Though there is demand softening, ramp up in supplies and start of new programs Intl Aftermarket, 9 India helped to post strong growth in Indian OE segment Aftermarket, 8 › Ramp up in supplies to key In
Slide 19: REVL – Financial Performance Review
REVL – Financial Performance Review Total Net Revenue (Rs cr.) EBITDA (Rs cr.) PBT* (Rs. cr.) Q3 FY2018 Q3 FY2019 3.0% (5.1) 4.8% 4.2% -4.8% (5.3) 107.5 32.7% 5.2 93.1 3.9 15.5% -5.7% Q3 FY2018 Q3 FY2019 Q3 FY2018 Q3 FY2019 * PBT before exceptional items › Total Net Revenue increased by 15.5% from R
Slide 20: REVL – Financials (YTD)
REVL – Financials (YTD) Rs Cr 9M FY18 9M FY19 Growth Total Net Revenue 276.2 318.4 15.3% EBITDA 13.7 11.9 -13.2% EBITDA Margin 5.0% 3.7% -123 bps PBT Before Exceptional Items (13.0) (18.1) -39.7% Exceptional (Expenses) / Income - - PBT (13.0) (18.1) -39.7% PBT Margin -4.7% -5.7% -100 bps PAT (8.3) (
Slide 21: Rane Brake Lining Ltd. (RBL)
Rane Brake Lining Ltd. (RBL) Not to be copied or distributed without permission of Rane Holdings Limited 20
Slide 22: RBL – Operational Performance Review
RBL – Operational Performance Review Business Split (Q3 FY19) Market Environment By Market (%) › Strong demand for 2W Disc pads in Indian market Intl OEM, 3 India OEM&OES, › Moderate demand from Aftermarket segment; Drop on account of high base in Q3 58 FY18 India Aftermarket, 39 Operational Highlig
Slide 23: RBL – Financial Performance Review
RBL – Financial Performance Review Total Net Revenue (Rs cr.) EBITDA (Rs cr.) PBT* (Rs cr.) 19.6% 15.3% 11.1% 15.3% 25.2 18.5% 19.7 24.0% 128.5 4.6% 134.5 20.6 14.9 Q3 FY2018 Q3 FY2019 Q3 FY2018 Q3 FY2019 Q3 FY2018 Q3 FY2019 * PBT before exceptional items › Total Net Revenue increased by 4.6% from R
Slide 24: RBL – Financials (YTD)
RBL – Financials (YTD) Rs Cr 9M FY18 9M FY19 Growth Total Net Revenue 341.8 378.9 10.9% EBITDA 60.3 49.2 -18.4% EBITDA Margin 17.6% 13.0% -466 bps PBT Before Exceptional Items 44.0 32.3 -26.6% Exceptional (Expenses) / Income - - PBT 44.0 32.3 -26.6% PBT Margin 12.9% 8.5% -435 bps PAT 29.8 22.4 -24.8
Slide 25: Rane TRW Steering Systems (RTSS)
Rane TRW Steering Systems (RTSS) Not to be copied or distributed without permission of Rane Holdings Limited 24
Slide 26: RTSS – Operational Performance Review
RTSS – Operational Performance Review Business Split (Q3 FY19) Market Environment By Market (%) › There was sudden drop in Indian Commercial Vehicle volumes impacting steering gear India OEM&OES, products 63 Intl OEM, 34 › Indian Passenger vehicle market remained weak resulting in significant drop i
Slide 27: RTSS – Financial Performance Review
RTSS – Financial Performance Review Total Net Revenue (Rs cr.) EBITDA (Rs cr.) PBT* (Rs cr.) 14.0% 10.5% 10.6% 31.9 335.3 42.6 7.1% 304.0 10.3% 16.5% 35.6 25.1% 23.9 Q3 FY2018 Q3 FY2019 Q3 FY2018 Q3 FY2019 Q3 FY2018 Q3 FY2019 * PBT before exceptional items › Total Net Revenue increased by 10.3% from
Slide 28: RTSS – Standalone Financials (YTD)
RTSS – Standalone Financials (YTD) Rs Cr 9M FY18 9M FY19 Growth Total Net Revenue 808.2 998.0 23.5% EBITDA 105.9 115.0 8.5% EBITDA Margin 13.1% 11.5% -159 bps PBT Before Exceptional Items 75.6 81.1 7.2% Exceptional (Expenses) / Income - - PBT 75.6 81.1 7.2% PBT Margin 9.4% 8.1% -123 bps PAT 50.9 53.
Slide 29: Rane NSK Steering Systems (RNSS)
Rane NSK Steering Systems (RNSS) Not to be copied or distributed without permission of Rane Holdings Limited 28
Slide 30: RNSS – Operational Performance Review
RNSS – Operational Performance Review Business Split (Q3 FY19) Market Environment By Market (%) › EPS: Higher off-take from served models in passenger vehicle segment Intl OEM, 1 India OEM&OES, › MSC: Higher volumes on served programs 99 Operational Highlights By Vehicle Segment (%) › Successfully c
Slide 31: RNSS – Financial Performance Review
RNSS – Financial Performance Review Total Net Revenue (Rs cr.) EBITDA (Rs cr.) PBT* (Rs cr.) 15.9% 12.5% 51.3 6.0% 321.7 336.6 60.6% 40.2 79.4% 4.6% 2.5% 20.2 8.3 Q3 FY2018 Q3 FY2019 Q3 FY2018 Q3 FY2019 Q3 FY2018 Q3 FY2019 * PBT before exceptional items › Total Net Revenue increased by 4.6% from Rs.
Slide 32: RNSS – Financials (YTD)
RNSS – Financials (YTD) Rs Cr 9M FY18 9M FY19 Growth Total Net Revenue 925.7 1,093.3 18.1% EBITDA 142.4 125.1 -12.2% EBITDA Margin 15.4% 11.4% -394 bps PBT Before Exceptional Items 107.4 90.0 -16.2% *Exceptional (Expenses) / Income 32.11 - PBT 139.5 90.0 -35.5% PBT Margin 15.1% 8.2% -683 bps PAT 94.
Slide 33: Thank You
Thank You Rane Corporate Centre For further information, please contact: “Maithri" 132, Cathedral Road, investorservices@ranegroup.com or dpingle@christensenir.com Chennai - 600 086, India www.ranegroup.com Not to be copied or distributed without permission of Rane Holdings Limited 32
Slide 34: Glossary of Abbreviations
Glossary of Abbreviations Abbreviation Expansion Abbreviation Expansion AF Asbestos Free M&HCV Medium & Heavy Commercial Vehicles bps Basis point, 100 bps equal to 1% MSC Manual Steering Column CV Commercial Vehicles OE Original Equipment EBITDA Earnings Before Interest, Tax and Depreciation & OEM O
Slide 35: Disclaimer
Disclaimer This presentation contains certain forward looking statements concerning Rane’s future business prospects and business profitability, which are subject to a number of risks and uncertainties and the actual results could materially differ from those in such forward looking statements. The