Ppap Automotive Limited · NSE:PPAP
Ppap Automotive — Q3 FY24 Earnings Presentation
42 slides from Ppap Automotive's earnings presentation, Feb 12, 2024
Slide 1: Exchange filing cover letter
12th February, 2024 The Listing Department The Listing Department BSE Limited The National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, Dalal Street, Bandra Kurla Complex, Mumbai – 400001 Bandra (E), Mumbai - 400051 Symbol: 532934 Symbol: PPAP Subject: Analysts and Inve
Slide 2: PPAP Automotive Limited Investor Presentation February 2024
PPAP Automotive Limited PPAP Automotive Limited TAKING CHALLENGES, TOGETHER INVESTOR PRESENTATION – FEBRUARY 2024
Slide 3: Safe Harbour
Safe Harbour This presentation and the accompanying slides (the “Presentation”), which have been prepared by PPAP Automotive Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any secu
Slide 4: PPAP at a Glance
PPAP at a Glance 45+ 5 50+ Years Of Legacy Varied Technologies Diversified Customers No. 1 Market Leader in Plastic sealing 5 2,600+ 5+ systems Business Segments Skus Electric Vehicles 10 225k 250+ Pan-india Operating Skus Under Parts Shipped Per Day Facilities Development 3
Slide 5: Industry Highlights
Industry Highlights 1 • Passenger vehicle sales increased by 7% YoY to 11.8 lac units in Q3FY24 compared with the Passenger Vehicles same period last year, there was a notable increase of 26% in utility vehicle sales • Passenger vehicle sales grew by 6.7% to 35.9 lac units in 9MFY24 vs 9MFY23 2 • Th
Slide 6: Financial Highlights
Financial Highlights 5
Slide 7: Management Commentary
Management Commentary Commenting on the results and performance for Q3 & 9M FY24, Mr. Ajay Kumar Jain, Chairman & MD of PPAP Automotive Ltd said: “During the quarter gone by, our standalone revenue dipped by 4% to Rs 119.7 crore as compared to Rs 124.8 crore in the corresponding period last year. EB
Slide 8: Key Operational Highlights for the Quarter
Key Operational Highlights for the Quarter Won QCC award from TKML in North Zone Initiated export of Aftersales products 202 new products launched in Aftermarket 70% Capacity Utilization Growth from multiple revenue streams to diversify risk 7
Slide 9: Standalone Performance Highlights Q3FY24
Standalone Performance Highlights Q3FY24 Revenue • The sequential decline in sales is attributed to industry characteristics, particularly maintenance and shutdown activities conducted in December Rs. 119.7 Crs • The Parts contributed 95% of the total revenues while Tools & Others contributed 5% of
Slide 10: Standalone Profit and Loss Statement
Standalone Profit and Loss Statement Particulars (INR cr) Q3FY24 Q3FY23 Y-o-Y (%) Q2FY24 Q-o-Q (%) 9M FY24 9M FY23 Y-o-Y (%) Revenue from operations 119.7 124.8 -4.0% 140.5 -14.8% 371.6 365.2 1.7% COGS 70.1 78.0 83.9 221.0 223.8 Gross Profit 49.6 46.8 6.0% 56.6 -12.3% 150.6 141.4 6.5% Gross Profit M
Slide 11: Consolidated Profit and Loss Statement
Consolidated Profit and Loss Statement Particulars (INR cr) Q3FY24 Q3FY23 Y-o-Y (%) Q2FY24 Q-o-Q (%) 9MFY24 9MFY23 Y-o-Y (%) Revenue from operations 122.4 127.1 -3.7% 148.4 -17.5% 387.2 378.8 2.2% COGS 71.5 78.8 90.3 232.9 231.3 Gross Profit 50.9 48.3 5.3% 58.1 -12.4% 154.3 147.6 4.6% Gross Profit M
Slide 12: Segmental Overview
Segmental Overview 11
Slide 13: Business Segments
Business Segments Commercial Tool Industrial Products Li-on Battery Automotive Parts Aftermarket Room Business Business Core competence in developing Development of Plastic Injection Extension of core competence of 100% owned subsidiary of PPAP Development and sales of spare Automotive Bod
Slide 14: Segmental Revenue Breakup
Segmental Revenue Breakup 9MFY23 9MFY24 Revenue by Client 6.9% 6.1% 2.0% 4.0% 17.0% 93.1% Parts 93.9% Parts 48.0% Tools & Others Tools & Others 4.0% 4.0% 0.0% Q3FY23 Q3FY24 1.0% 8.0% 11.0% 5.3% 3.0% Maruti+SMG MG Motors Hyundai Renault + Nissan Tata Honda Kia Volkswagen+Skoda 89.0% Parts Mahindra To
Slide 15: Product Portfolio – 4W Parts
Product Portfolio – 4W Parts PPAP SUPPLY PTI SUPPLY 14
Slide 16: Product Portfolio – 4W Parts
Product Portfolio – 4W Parts 15
Slide 17: Product Portfolio – 2W/3W Parts
Product Portfolio – 2W/3W Parts 16
Slide 18: Business Segments – Commercial Tool Room
Business Segments – Commercial Tool Room Key Highlights Glove Box State of the art Manufacturing facility for development of global level plastic injection molds Capacity to make mold up to 1.8 mtr Develop of molds for Automotive, Electrical, White Goods and Medical sector Participating in D
Slide 19: Business Segment – Industrial Product
Business Segment – Industrial Product Key Highlights Plastic parts for Machines / Robots Leveraging the use of existing plastic and rubber extrusion along with injection molding Started Export during last quarter 50+ product developed, 10+ under devlopment Focus on developing the Sealings, G
Slide 20: Business Segments – Li-on Battery
Business Segments – Li-on Battery Key Highlights AIS 516 Certified Battery for 2/3W State of art assembly facility AIS 156 Certified Battery Pack – 2 / 3 Wheeler application Leveraging the growth of Electric Vehicles, Solar Energy, Energy Storage systems A portfolio of 40 products since laun
Slide 21: Business Segments – Aftermarket
Business Segments – Aftermarket Key Highlights 900+ SKUs Focus on expanding the domestic network as well as international market currently available under the categories of Started export in Q3FY24 Interior and Exterior Accessories and Parts Launched 200 more products in aftermarket in last qu
Slide 22: Product Portfolio – Aftermarket
Product Portfolio – Aftermarket Spare Parts Available Across Car Accessories • Premium Car accessories • Interior • Phone holder • Rear tray • Charger sockets • Perfumes • Steering Covers • Range of self use cleaning products • Glass cleaners • Wax polish • Touch up products 21
Slide 23: Esteemed Clientele
Esteemed Clientele Passenger Vehicle Commercial Wheeler Vehicle Two- V Wheelers Battery EV Two Systems Storage Battery Pack: Pack: VV Containers Tooling Pail Content per vehicle for Key OEMs Up to INR 3000 UP TO INR 6000 UP TO INR 5000 UP TO INR 8000 UP TO INR 2500 22
Slide 24: Company Overview
Company Overview 23
Slide 25: Board of Directors
Board of Directors Deepak Kumar Vinay Kumari Pravin Kumar Ajay Jain Abhishek Jain Celine George Rohit Rajput Chairman and CEO and Sethi Jain Gupta Non-Executive Independent Director Independent Director Managing Director Managing Director Independent Director Independent Director Director • Bachelor
Slide 26: Journey Towards Excellence
Journey Towards Excellence 2023-2024 1978 – 1990 2002 – 2007 o Listed on BSE and 2015 – 2016 NSE o Established Plant - III o Established Plant - V (Surajpur) and Plant - (Vallam Vadgal) and o Conversion of IV (Pathredi) Plant VI (Ukhlod) partnership firm to o M&M, Renault Nissan o VW, Hyundai & Kia
Slide 27: Manufacturing Facilities
Manufacturing Facilities Noida, UP Plastic Extrusion Greater Noida, UP PVC / TPO / PP MATERIAL Chennai, TN Viramgam, GJ • 4 Locations; 15 Extrusion Lines • Bending technology, Welding technology, Chrome SUS extrusion and Notching technology Rubber Extrusion Noida, UP EPDM & TPV MATERIAL Greater Noid
Slide 28: Operating Locations Pan India Presence
Operating Locations Pan India Presence Note –Map not to scale. All data, information, and maps are provided “as is” without warranty or any representation of accuracy, timeliness or completeness. 27
Slide 29: PPAP – Strengths
PPAP – Strengths Strong R&D Capabilities Pioneering innovation, our strong Strategic & Technology R&D capabilities fuel our competitive Strong Distribution and edge, enabling us to shape the Driven Alliances industry landscape and meet Localisation Our commitment to strategic and evolving market dem
Slide 30: Environment, Social and Governance Review
Environment, Social and Governance Review 29
Slide 31: Approach & Strategy
Approach & Strategy Sustainable Strategy Sustainability for Long-Term Governance Structure 30
Slide 32: Sustainability Progress
Sustainability Progress 3268 GJ Renewable 16% CO, reduction 11132 KL 208.42 Tons Recycled Energy (Solar) used from base year 2019 Water saved input material used = nh Certified Great Place to 20.3 Average training 8% Women 125 Beneficiaries impact- Work Certified hours per employee in the workforce
Slide 33: Awards & Accolades: 100+ Awards from Customers
Awards & Accolades MARUTI SUZUKI TOYOTA MARUTI SUZUKI MACHINIST SUZUKI MOTORCYCLE 100+ AWARDS FROM CUSTOMERS 32
Slide 34: Awards & Accolades
Awards & Accolades CPAP: * mT Sustainable Bronze medal BRSR Back Testing Benchmarking ie Excellence in (Score: 57; amongst ‘Appreciation Award Sronniaten heed Best Quality top 25%) EcoVadis, Institute of Chartered Accountants of India (ICAI) pee Asahi Glass Motor Pvt. Ltd. (yn of Technology ! I i al
Slide 35: Historical Financials
Historical Financials 34
Slide 36: Standalone Profit & Loss Statement
Standalone Profit & Loss Statement Particulars (INR cr) FY23 FY22 FY21 Revenue from operations 492.3 409.1 321.2 COGS 300.8 247.1 182.6 Gross Profit 191.5 162.0 138.5 Gross Profit Margin 38.9% 39.6% 43.1% Employee Expenses 79.0 69.6 61.2 Other Expenses 66.9 53.3 43.6 EBITDA 45.6 39.0 33.7 EBITDA Mar
Slide 37: Standalone Balance Sheet
Standalone Balance Sheet Liabilities (INR cr) Mar-23 Mar-22 Mar-21 Assets (INR cr) Mar-23 Mar-22 Mar-21 Equity Non Current Assets Equity Share capital 14.0 14.0 14.0 Property, Plant and Equipment 292.6 261.4 230.6 Capital work-in-progress 8.9 20.8 20.1 Other Equity 302.5 298.8 295.8 Other Intangible
Slide 38: Standalone Cashflow Statement
Standalone Cashflow Statement Particulars (INR cr) Mar-23 Mar-22 Mar-21 Net Profit Before Tax 9.0 6.1 6.3 Adjustments for: Non-Cash Items / Other Investment or Financial Items 17.8 31.5 27.0 Operating profit before working capital changes 45.5 37.6 33.3 Changes in working capital -3.9 6.3 -2.2 Cash
Slide 39: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement Particulars (INR cr) FY23 FY22 FY21 Revenue from operations 511.1 421.9 322.2 COGS 313.6 255.8 183.0 Gross Profit 197.5 166.1 139.2 Gross Profit Margin 38.6% 39.4% 43.2% Employee Expenses 82.9 72.2 62.2 Other Expenses 70.6 55.2 44.1 EBITDA 43.9 38.6 32.9 EBITDA M
Slide 40: Consolidated Balance Sheet
Consolidated Balance Sheet Liabilities (INR cr) Mar-23 Mar-22 Mar-21 Assets (INR cr) Mar-23 Mar-22 Mar-21 Equity Non Current Assets Property, Plant and Equipment 309.7 273.9 234.9 Equity Share capital 14.0 14.0 14.0 Capital work-in-progress 9.0 20.8 20.1 Other Equity 280.7 289.9 292.2 Other Intangib
Slide 41: Consolidated Cashflow Statement
Consolidated Cashflow Statement Particulars (INR cr) Mar-23 Mar-22 Mar-21 Net Profit Before Tax -5.1 0.1 3.2 Adjustments for: Non Cash Items / Other Investment or Financial Items 49.0 36.7 28.6 Operating profit before working capital changes 43.8 36.9 31.9 Changes in working capital 3.4 -12.3 -4.4 C
Slide 42: For further information, please contact
For further information, please contact Company : Investor Relations Advisors : CIN: L74899DL1995PLC073281 CIN: U74140MH2010PTC204285 Ms. Pankhuri Agarwal Mr. Aakash Mehta / Mr. Rahul Agarwal investorservice@ppapco.com aakash.s.m@sgapl.net / rahul.agarwal@sgapl.net +91 98706 79263 / +91 98214 38864