Talbros Automotive Components Limited · NSE:TALBROAUTO
Talbros Automotive Components — Investor Presentation (May 2019)
36 slides from Talbros Automotive Components's investor presentation, May 29, 2019
Slide 1: Investor Presentation May 2019
1 INVESTOR PRESENTATION May 2019 1
Slide 2: Safe Harbour
Safe Harbour This presentation and the accompanying slides (the “Presentation”), which have been prepared by Talbros Automotive Components Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscrib
Slide 3: Talbros Automotive Components Ltd (TACL) - Group
Talbros Automotive Components Ltd (TACL) - Group Product Portfolio Entities TACL Group Turnover*(Rs. Crs) FY18 FY19 TACL Standalone 292 333 Gaskets Nippon Lealkless Talbros Pvt Ltd 118 122 Forgings TACL Standalone 115 166 FY18 FY19 675 803 Magneti Marelli Talbros Chassis Chassis Components 109 130 S
Slide 4: TACL Group – Corporate Structure
TACL Group – Corporate Structure Figures in Rs. Crores FY18^ FY19^ Talbros Auto Components Limited – Group Turnover Gaskets 292 333 Talbros Automotive Components Ltd. Forgings 115 166 FY18 FY19 40% 50% 50% 675 803 Nippon Leakless Talbros Pvt Magneti Marelli Talbros Talbros Marugo Rubber Pvt Ltd.* Ch
Slide 5: Vision 2020
Vision 2020 Group Turnover# EBITDA# Margin 11.8% 11.9% 12.0% - 13.0% Previous Target Revised Target FY18^ FY19^ FY20 FY20 FY18 FY19 FY20e In view of 675 803 850 - 950 850 - 900 multiple Adjusted PAT^ headwinds faced Previous Target Revised Target by the Auto Sector, our 32 - 35 30-32 targets for 26
Slide 6: Consolidated FY19 Highlights
Consolidated FY19 Highlights FY19 Record Profitability in FY19 Total Income from Operations^ Commenting on the performance Mr. Anuj Talwar, Jt. Managing Director, 23% Rs 490 Crs Talbros Automotive Components Limited said: “We have delivered record performance in FY19. Our capabilities across product
Slide 7: New Order wins Fuel Growth in Business
New Order wins Fuel Growth in Business Talbros Marugo Rubber New orders worth Rs. 5-8 Crs p.a. from existing customers Forgings New orders worth Rs. 8 Crs p.a. from existing customers Magneti Marelli Talbros Chassis Systems New order from a Domestic OEM for Lower Control Arm worth Rs. 10 Crs p.a. Su
Slide 8: Consolidated FY19 Performance Highlights
Consolidated FY19 Performance Highlights Rs. Crores Total Income from Operations^ EBIDTA^ Adjusted PAT +23% +23% +28% 490.0 58.1 26.4 399.3 47.1 20.7 FY18 FY19 FY18 FY19 FY18* FY19 EBITDA Margin^ Adjusted PAT Margin +6 bps +20 bps 11.8% 11.9% 5.20% 5.40% FY18 FY19 FY18* FY19 As per Ind AS ^ Includes
Slide 9: FY19 JV’s Performance Highlights
FY19 JV’s Performance Highlights Nippon Leakless Talbros Pvt Ltd* Magneti Marelli Talbros Chassis Systems Talbros Marugo Rubber Pvt Ltd* Pvt Ltd* Total Income from Operations Total Income from Operations Total Income from Operations +4% +19% +27% 117.9 122.1 129.7 52.0 109.0 40.8 FY18 FY19 FY18 FY19
Slide 10: Consolidated Q4 FY19 Performance Highlights
Consolidated Q4 FY19 Performance Highlights Rs. Crores Total Income from Operations^ EBIDTA^ PAT -3% -13% -20% 112.2 108.9 14.9 7.6 13.0 6.1 Q4FY18 Q4FY19 Q4FY18 Q4FY19 Q4FY18 Q4FY19 As per Ind AS ^ Includes other income 10
Slide 11: Q4 FY19 JV’s Performance Highlights
Q4 FY19 JV’s Performance Highlights Nippon Leakless Talbros Pvt Ltd Magneti Marelli Talbros Chassis Systems Talbros Marugo Rubber Pvt Ltd Pvt Ltd Total Income from Operations Total Income from Operations Total Income from Operations -5% -12% +10% 29.6 28.2 32.9 11.4 12.5 29.0 Q4FY18 Q4FY19 Q4FY18 Q4
Slide 12: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement Particulars (Rs. In crores) Q4 FY19 Q4 FY18 Y-o-Y Q3 FY19 Q-o-Q FY19 FY18 Y-o-Y Revenue from Operations (Net of Excise) 106.2 110.2 125.1 482.8 393.0 Other Income 2.6 2.1 2.7 7.1 6.3 Total revenue from Operation 108.9 112.2 -3.0% 127.8 -14.8% 490.0 399.3 22.7% Ra
Slide 13: Consolidated Balance Sheet
Consolidated Balance Sheet ASSETS Mar-19 Mar-18 EQUITY AND LIABILITIES Mar-19 Mar-18 Non-current assets Equity Equity Share capital 12.3 12.3 Property, plant and equipment 139.7 124.3 Non Controlling Interest Capital work-in-progress 6.4 2.4 Other equity 186.4 167.1 Intangible assets 1.1 0.7 Sub-tot
Slide 14: Standalone Profit & Loss Statement
Standalone Profit & Loss Statement Particulars (Rs. In crores) Q4 FY19 Q4 FY18 Y-o-Y Q3 FY19 Q-o-Q FY19 FY18 Y-o-Y Revenue from Operations (Net of Excise) 106.2 110.2 125.1 482.8 393.0 Other Income 3.8 2.8 3.9 11.9 9.4 Total revenue from Operation 110.1 113.0 -2.6% 129.0 -14.7% 494.8 402.4 23.0% Raw
Slide 15: Standalone Balance Sheet
Standalone Balance Sheet ASSETS Mar-19 Mar-18 EQUITY AND LIABILITIES Mar-19 Mar-18 Non-current assets Equity Equity Share capital 12.3 12.3 Property, plant and equipment 139.7 124.3 Non Controlling Interest - - Capital work-in-progress 6.4 2.4 Other equity 171.9 157.2 Intangible assets 1.1 0.7 Sub-t
Slide 16: Business Confirmations & Strategy
Business Confirmations & Strategy Gaskets Standalone Nippon Leakless JV* New Orders in Q4FY19: ▪ Export Order from an European OEM worth Rs. 5 Cr p.a. ▪ To supply Integrated Wire Harness Gasket to an OEM worth Rs. 15-20 Crs +10% +5% 333 47 49 p.a. Supplies to start from Q1FY21 292 44 267 42 252 Stra
Slide 17: Business Confirmations & Strategy
Business Confirmations & Strategy Magneti Marelli Talbros Chassis Systems Pvt Ltd (MMT)* ▪ New order from a Domestic OEM for Lower Control Arm worth Rs. 10 65 Crs p.a. Supplies to start from Q1FY21 +28% ▪ Order from an OEM in UK worth ~Rs. 35+ Crores per annum 54 43 ▪ Order from Maruti Suzuki to sup
Slide 18: Leadership Team driving Growth & Profitability
Leadership Team driving Growth & Profitability Joint Managing Director Director & Group CFO Anuj Talwar Navin Juneja Is a Bachelor in Business Is a B.Sc. (Mathematics) and Administration from college of Chartered Accountant (FCA). He is William & Mary, Virgina, USA and working as Finance Head of Tal
Slide 19: One of the Most Hedged Auto Component Players
About Us Over 6 Decades of experience in Auto Component manufacturing One of the Diversified Auto Component player with presence across Two Wheelers, Passenger, Commercial Vehicles and Farm Equipment's Most Hedged Auto Wide client base, ~40% revenue from top 5 clients Component Businesses across OEM
Slide 20: Diversified Portfolio
Diversified Portfolio FY19 - Revenue Contribution Segments Product Portfolio Market Exposure TMR 4% ▪ 2 Wheelers ▪ Gaskets ▪ OEMs NLK 8% ▪ 3Wheelers ▪ Heat Shields ▪ After Market MMT ▪ Passenger Vehicles ▪ Forgings ▪ Exports 10% ▪ Chassis Systems ▪ Commercial Vehicles ▪ Others Forgings ▪ Anti vibrat
Slide 21: Growth Strategy
Growth Strategy 21
Slide 22: Strong Global Partnerships - Joint Ventures
Strong Global Partnerships - Joint Ventures Joint Ventures About the JV Products Customers ▪ Nippon Leakless Corporation (Japan) - One of the ▪ Hero Motor Corp largest global manufacturers of gaskets and a ▪ HMSI major Supplier for Honda Gaskets ▪ India Yamaha ▪ Honda Car India ▪ Established in 2005
Slide 23: Strong Tailwinds…
Strong Tailwinds… Stricter environmental Norms ▪ BS-VI expected implementation by 2020 Jump towards BS VI ▪ Developing new products such as Heat Shields under Technical Licensing Agreement with 01 SANWA Packaging Huge Potential of Indian Passenger Vehicles Segment Joint Ventures increasing ▪ India’s
Slide 24: The Automotive Opportunities
The Automotive Opportunities +27.4% +30.5% +9.9% Million Units 10.0 2.4 30.2 20.7 3.8 0.8 FY17 FY21F FY17 FY21F FY17 FY21F Passenger Vehicles Commercial Vehicles 2W & 3W Vehicles Source: IBEF TACL: Domestic Sales Break up FY19 Agri & Off Others, 3% Loaders, 7% 2 & 3 Wheelers, 32% 35% 32% Strong grow
Slide 25: Business Overview
Business Overview 25
Slide 26: Key Milestones
Key Milestones Payen Talbros Technical Agreement •2008 - Technical Agreement JV with Marugo Rubber, incorporated in with Nippon Leakless, with SANWA, Japan Japan for Anti-Vibration collaboration with Japan to manufacture • 2009 – Technical Agreement and Hoses Coopers Payen UK Non-Asbestos Gaskets wi
Slide 27: Board of Directors
Board of Directors Mr. Naresh Talwar Mr. Umesh Talwar Mr. Varun Talwar Chairman Vice Chairman & MD Joint Managing Director Mr. Anuj Talwar Mr. Navin Juneja Mr. Vidur Talwar Joint Managing Director Director Non Executive Director Mr. V Mohan Mr Anil Kumar Mehra Mr. Amit Burman Independent Director In
Slide 28: Executive Management
Executive Management Mr. Manish Khanna Mrs. Seema Narang Chief Financial Officer Company Secretary A Qualified CA and MBA, he has over 17 years of experience with LeeBoy India She has over 22 years of experience in the secretarial department and has worked with Constructions, Doosan Infracore, Escor
Slide 29: Standalone Business - Gaskets
Standalone Business - Gaskets FY19 Revenue Rs 322.9 Crores FY19 OEM Breakup ▪ In – House tool design and manufacturing Others Export ▪ ~40% Market share in Gaskets 3x the 5% 10% After 2 & 3 Wheelers Market 5% nearest competitor 12% 13% Passenger Vehicle 37% ▪ Market Leader in – Two Wheeler, Agri & O
Slide 30: Standalone Business - Forgings
Standalone Business - Forgings FY19 Revenue Rs 164.8 Crores Exports ▪ One stop solution for Hot Forging (750 to 43% 1,600 Ton Press) ▪ In-House tool design and manufacturing Others OEM ▪ Strong presence in Overseas Market & 5% 52% Supplier to top Tier I companies ▪ One Stop Solution for Die Design,
Slide 31: Scope of Joint Ventures
Scope of Joint Ventures Rear Twist Beam Axle Fuel Hose Strut Mount Steering Bush Front Cross Members Engine Mount Suspension Arms Bush Wheel Group + Corner Module Air Hose Control Arms Knuckles Exhaust Hanger MMT MMT TMR TMR Existing Business Planned for Future Existing Business Planned for Future 3
Slide 32: Evolving Product Portfolio
Evolving Product Portfolio JV with Marugo Evolution Rubber Continues... Revenue FY07 JV with Magneti Marelli Hoses Hoses TA with SANWA Anti Vibration Anti Vibration Gasket 100% Acquired Sheet Metal, Products Products Entry into Forgings, JV with NLK - Gaskets Chassis Systems Chassis Systems Chassis
Slide 33: Hedged Customer Base
Diversified Customer - OEM 2 Wheeler Passenger Hedged Customer Base HCV/LCV Agri & Off Loader Agri & Off Loader 33
Slide 34: Manufacturing Facilities
Manufacturing Facilities Forging Gasket Bawal – Haryana Faridabad, Haryana (2 plants & R&D Centre) Pune, Maharashtra & Sitarganj, Uttarakhand Talbros Marugo Rubber Manesar – Gurgaon Nippon Leakless Bawal – Haryana Haridwar – Uttarakhand Magneti Marelli Talbros Faridabad - Haryana 34
Slide 35: Equity
Equity Consistently paying Dividend for the last 50 years In Rs 1.8 1.5 1.5 1.5 1.5 1.2 1.2 1.2 1.2 1.2 1.0 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 Promoter Shareholding 54% 54% 57% 57% 57% 57% 51% 44% 46% 46% 42% 38% Jun-09 Jun-10 Jun-11 Jun-12 Jun-13 Jun-14 Jun-15 Jun-16 Dec-16 Mar-
Slide 36: For further information, please contact:
For further information, please contact: Company : Investor Relations Advisors : Talbros Automotive Components Ltd. Strategic Growth Advisors Pvt. Ltd. CIN: L29199HR1956PLC033107 CIN: U74140MH2010PTC204285 Mr. Navin Juneja – Director & Group CFO Mr. Shogun Jain / Mr. Pratik Shah Email: navinjuneja@q
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