Rane (madras) Limited · NSE:RML
Rane (madras) — Q2 FY21 Earnings Presentation
35 slides from Rane (madras)'s earnings presentation, Nov 11, 2020
Slide 1: Exchange filing cover letter: Earnings Presentation
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Slide 2: Rane Group Earnings Presentation | Q2 FY21
Rane Group Earnings Presentation | Q2 FY21 N o v e m b e r 2 0 2 0 www.ranegroup.com Not to be copied or distributed without permission of Rane Holdings Limited 1
Slide 3: Outline
Outline › Industry Performance Review – Q2 FY21 › Rane Group Performance Review – Q2 FY21 › Group Companies Performance Highlights – Q2 FY21 Not to be copied or distributed without permission of Rane Holdings Limited 2
Slide 4: Industry Performance Review (Q2 FY21)
Industry Performance Review (Q2 FY21) Production YoY Rane Group Sales Growth Rane Group Revenue Vehicle Segment Growth# in % YoY in % (India OEM) Split * (India OEM) Passenger Cars (PC) -11% -7% 44% Utility Vehicles (MUV) 18% 21% 18% Vans -19% -8% 1% - Total Passenger Vehicle -3% 0% 63% Small Commer
Slide 5: Outline
Outline › Industry Performance Review – Q2 FY21 › Rane Group Performance Review – Q2 FY21 › Group Companies Performance Highlights – Q2 FY21 Not to be copied or distributed without permission of Rane Holdings Limited 4
Slide 6: Group Aggregate Performance Review (Q2 FY21)
Group Aggregate Performance Review (Q2 FY21) Total Revenue (Rs cr.) EBITDA (Rs cr.) PBT (Rs cr.) 1.4% 9.4% 1,087.4 1,072.9 7.7% -3.2% 14.8 1.3% 19.1% Q2 FY2020 Q2 FY2021 100.3 84.2 143.1% -34.3 Q2 FY2020 Q2 FY2021 Q2 FY2020 Q2 FY2021 › Total Revenue dropped by 1.3% from Rs. 1,087.4 Cr in Q2 FY20 to
Slide 7: RHL Consolidated Performance Review (Q2 FY21)
RHL Consolidated Performance Review (Q2 FY21) Total Revenue (Rs cr.) EBITDA (Rs cr.) PBT* (Rs cr.) 9.6% 7.5% 2.5% 50.3 13.2 -2.8% 551.7 524.0 5.0% 20.9% 41.6 Q2 FY2020 185.1%Q2 FY2021 -15.5 Q2 FY2020 Q2 FY2021 Q2 FY2020 Q2 FY2021 * PBT includes net profit from JV › Total Revenue decreased by 5% from
Slide 8: Group Aggregate Performance Review (YTD)
Group Aggregate Performance Review (YTD) Rs Cr 6M FY20 6M FY21# Total Revenue 2,340.3 1,387.0 EBITDA 177.7 24.1 EBITDA Margin 7.6% 1.7% PBT Before Exceptional Items 39.3 (104.4) Exceptional Expenses * (51.8) (21.6) PBT (12.5) (126.0) PBT Margin -0.5% -9.1% PAT (12.0) (97.1) PAT Margin -0.5% -7.0% To
Slide 9: RHL Consolidated Performance Review (YTD)
RHL Consolidated Performance Review (YTD) Rs Cr 6M FY20 6M FY21# Total Revenue 1,135.2 718.1 EBITDA 85.4 4.0 EBITDA Margin 7.5% 0.6% PBT Before Share of profit/ (loss) of JV & Exceptional Items (2.9) (78.2) Share of profit/ (loss) of JV (Net of Exceptional items & 1.8 (13.9) Tax) Exceptional Expense
Slide 10: Outline
Outline › Industry Performance Review – Q2 FY21 › Rane Group Performance Review – Q2 FY21 › Group Companies Performance Highlights – Q2 FY21 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 (Q2 FY21) Market Environment By Market (%) › Strong recovery in demand across vehicle segments particularly Farm Tractors Intl OEM, 23 India segment; Shift in preference to UV among Passenger Vehicles continued OEM&OES, 61 › Robust deman
Slide 13: RML Standalone – Financial Performance Review
RML Standalone – Financial Performance Review Total Revenue (Rs cr.) EBITDA (Rs cr.) PBT (Rs cr.) 3.3% 10.2% 8.6% 282.4 285.7 29.3 1.2% 24.2 21.0% 0.9% 261.5% 9.4 2.6 Q2 FY2020 Q2 FY2021 Q2 FY2020 Q2 FY2021 Q2 FY2020 Q2 FY2021 › Net sales increased by 8% from Rs. 257.8 cr in Q2 FY20 to Rs. 277.3 Cr
Slide 14: RML – Standalone Financials (YTD)
RML – Standalone Financials (YTD) Rs Cr 6M FY20 6M FY21# Total Revenue 579.6 382.0 EBITDA 49.7 16.8 EBITDA Margin 8.6% 4.4% PBT Before Exceptional Items 7.5 (22.7) Exceptional Expenses - - PBT 7.5 (22.7) PBT Margin 1.3% -5.9% PAT 5.9 (15.5) PAT Margin 1.0% -4.1% Total Comprehensive Income 5.6 (13.3)
Slide 15: RML Consolidated – Financial Performance Review
RML Consolidated – Financial Performance Review Total Revenue (Rs cr.) EBITDA (Rs cr.) PBT (Rs cr.) 331.2 322.1 5.1% Q2 FY2020 Q2 FY2021 4.5% -10.8 35.2% -7.0 2.8% 10.8% 14.8 16.4 -2.2% -3.3% Q2 FY2020 Q2 FY2021 Q2 FY2020 Q2 FY2021 › Total Revenue decreased by 2.8% from Rs. 331.2 Cr in Q2 FY20 to Rs
Slide 16: RML – Consolidated Financials (YTD)
RML – Consolidated Financials (YTD) Rs Cr 6M FY20 6M FY21# Total Revenue 677.4 436.4 EBITDA 31.3 (11.6) EBITDA Margin 4.6% -2.7% PBT Before Exceptional Items (19.4) (59.1) Exceptional Expenses - - PBT (19.4) (59.1) PBT Margin -2.9% -13.6% PAT (21.0) (51.9) PAT Margin -3.1% -11.9% Total Comprehensive
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 (Q2 FY21) Market Environment By Market (%) › Lower production of Diesel engines affected sales to Passenger Vehicle segment India Aftermarket, 7 › Increase in share of business in Two Wheeler and Commercial Vehicle segment › New orders from Export
Slide 19: REVL – Financial Performance Review
REVL – Financial Performance Review Total Revenue (Rs cr.) EBITDA (Rs cr.) PBT (Rs. cr.) 4.7% Q2 FY2020 Q2 FY2021 4.6% -5.7 7.0% 94.6 83.4 4.5 13.9% 11.9% 3.9 -5.3 Q2 FY2020 Q2 FY2021 -6.3% Q2 FY2020 Q2 FY2021 -6.0% › Total Revenue declined by 11.9% from Rs. 94.6 Cr in Q2 FY20 to Rs. 83.4 Cr in Q2 F
Slide 20: REVL – Financials (YTD)
REVL – Financials (YTD) Rs Cr 6M FY20 6M FY21# Total Revenue 198.6 113.9 EBITDA 7.8 (12.7) EBITDA Margin 3.9% -11.1% PBT Before Exceptional Items (12.2) (29.6) Exceptional Expenses * - (0.8) PBT (12.2) (30.4) PBT Margin -6.1% -26.7% PAT (7.9) (19.8) PAT Margin -4.0% -17.4% Total Comprehensive Income
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 (Q2 FY21) Market Environment By Market (%) Intl OEM & After › Demand recovered across key served segments Market, 6 India OEM&OES, › Lower demand from Aftermarket customers as STUs/Bus operators yet to operate at 56 pre-covid level India Aftermarke
Slide 23: RBL – Financial Performance Review
RBL – Financial Performance Review Total Revenue (Rs cr.) EBITDA (Rs cr.) PBT (Rs cr.) 21.0% 15.5% 112.1 8.0% 107.7 13.6% 16.7 22.6 3.9% 48.7% 87.6% 15.2 8.9 Q2 FY2020 Q2 FY2021 Q2 FY2020 Q2 FY2021 Q2 FY2020 Q2 FY2021 › Total Revenue decreased by 3.9% from Rs. 112.1 Cr in Q2 FY20 to Rs. 107.7 Cr in
Slide 24: RBL – Financials (YTD)
RBL – Financials (YTD) Rs Cr 6M FY20 6M FY21# Total Revenue 231.0 148.9 EBITDA 30.9 19.0 EBITDA Margin 13.4% 12.8% PBT Before Exceptional Items 18.3 6.7 Exceptional Expenses - - PBT 18.3 6.7 PBT Margin 7.9% 4.5% PAT 14.8 4.6 PAT Margin 6.4% 3.1% Total Comprehensive Income 14.3 4.9 # The business ope
Slide 25: Rane TRW Steering Systems Pvt. Ltd. (RTSS)
Rane TRW Steering Systems Pvt. Ltd. (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 (Q2 FY21) Market Environment By Market (%) › Steering business India OEM&OES, – Increase in share of business helped to mitigate significant drop in Indian 54 Intl OEM, 41 Commercial Vehicle volumes – Drop in schedules impacted exports sales › Occ
Slide 27: RTSS – Financial Performance Review
RTSS – Financial Performance Review Total Revenue (Rs cr.) EBITDA (Rs cr.) PBT (Rs cr.) 5.0% 5.1% 9.4% 9.6% 284.3 276.1 1.0% 14.1 14.1 2.9% 26.7 26.5 Q2 FY2020 Q2 FY2021 Q2 FY2020 Q2 FY2021 Q2 FY2020 Q2 FY2021 › Total Revenue decreased by 2.9% from Rs. 284.3 Cr in Q2 FY20 to Rs. 276.1 Cr in Q2 FY21
Slide 28: RTSS – Financials (YTD)
RTSS – Financials (YTD) Rs Cr 6M FY20 6M FY21# Total Revenue 638.0 362.5 EBITDA 50.2 10.9 EBITDA Margin 7.9% 3.0% PBT Before Exceptional Items 23.8 (13.2) Exceptional Expenses - - PBT 23.8 (13.2) PBT Margin 3.7% -3.6% PAT 17.6 (9.8) PAT Margin 2.8% -2.7% Total Comprehensive Income 15.3 (9.4) # The b
Slide 29: Rane NSK Steering Systems Pvt. Ltd. (RNSS)
Rane NSK Steering Systems Pvt. Ltd. (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 (Q2 FY21) Market Environment By Market (%) › Strong growth in Utility Vehicle segment Intl OEM, 1 India OEM&OES, 99 Operational Highlights By Vehicle Segment (%) › Focused on productivity improvement projects to address manpower availability SCV,
Slide 31: RNSS – Financial Performance Review
RNSS – Financial Performance Review Total Revenue (Rs cr.) EBITDA (Rs cr.) PBT (Rs cr.) 11.2% -1.0% -15.3% 9.0% Q2 FY2020 Q2 FY2021 93.2% -2.7 260.0 7.9% 280.5 34.2% 23.4 31.4 -39.8 Q2 FY2020 Q2 FY2021 Q2 FY2020 Q2 FY2021 › Total Revenue increased by 7.9% from Rs. 260.0 Cr in Q2 FY20 to Rs. 280.5 Cr
Slide 32: RNSS – Financials (YTD)
RNSS – Financials (YTD) Rs Cr 6M FY20 6M FY21# Total Revenue 584.9 318.8 EBITDA 58.6 19.3 EBITDA Margin 10.0% 6.1% PBT Before Exceptional Items 31.3 (7.1) Exceptional Expenses * (51.8) (20.8) PBT (20.5) (27.9) PBT Margin -3.5% -8.7% PAT (13.5) (18.4) PAT Margin -2.3% -5.8% Total Comprehensive Income
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 bps Basis point, 100 bps equal to 1% OES Original Equipment Supplier EBITDA Earnings Before Interest, Tax, Depreciation and PBT Profit Before Tax Amortization PAT Profit After Tax EPS Electric Power Steering PC Passenger Car FT
Slide 35: Disclaimer
Disclaimer This presentation may contain 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. T