Bharat Forge Ltd · NSE:BHARATFORG
Bharat Forge — Investor Presentation (February 2020)
17 slides from Bharat Forge's investor presentation, Feb 10, 2020
Slide 1: Bharat Forge - Exchange Filing Cover Letter
BHARAT FORGE February 10, 2020 To, BSE Limited, National Stock Exchange of India Limited 1st Floor, New Trading Ring, 'Exchange Plaza', Rotunda Building, P.J. Towers, Bandra-Kurla Complex, Bandra (East) Dalal Street, Fort, Mumbai- 400 051 Mumbai - 400 001 Symbol: BHARATFORG BSE SCRIP CODE - 500493 S
Slide 2: Investor Presentation February 2020
INVESTOR PRESENTATION FEBRUARY 2020 1
Slide 3: Bharat Forge Overview
Bharat Forge Overview GLOBAL VERTICALLY ROBUST MANUFACTURING 10 locations across INTEGRATED FINANCIALS 5 countries ‐ With end‐to‐end Consolidated Revenue US, Germany, Sweden, capabilities US$ 1.6 B France and India MARQUEE GLOBAL CUSTOMERS LEADERSHIP Leading Automotive LARGEST In Powertrain OEMs & T
Slide 4: Standalone Numbers – 9M FY 2020
Standalone Numbers – 9M FY 2020 (INR Million) Domestic Sales EBITDA 20,882 Export Sales Profit Before Tax 13,911 15,223 8,918 (27.1)% 27,632 (35.9)% 21,605 11,717 (21.8)% 6,574 9M FY20 9M FY19 9M FY20 9M FY19 (43.9)% 9M FY20 9M FY19 9M FY20 9M FY19 4
Slide 5: Segmental Breakup - Standalone
Segmental Breakup ‐ Standalone (INR Million) Commercial Vehicles Passenger Vehicles Industrials 43 % 17 % 40 % of total revenues of total revenues of total revenues 9M FY 2020: 14,520 9M FY 2020: 5,657 9M FY 2020: 13,634 9M FY 2019 : 20,461 9M FY 2019 : 5,221 9M FY 2019 : 19,584 (29.0)% 8.4% (30.4)%
Slide 6: Geographical Breakup - Standalone
Geographical Breakup ‐ Standalone (INR Million) India USA Europe Rest of World 41 % 42 % 15 % 2% of total revenues of total revenues of total revenues of total revenues 9M FY 2020: 15,223 9M FY 2020: 15,286 9M FY 2020: 5,400 9M FY 2020: 919 9M FY 2019 : 20,882 9M FY 2019 : 18,948 9M FY 2019 : 7,679
Slide 7: Strong Balance Sheet
Strong Balance Sheet (INR Million) Particulars December 31, 2019 March 31, 2019 Long Term Debt 19,080 15,722 WC & Bill Discounting 13,634 16,220 Equity 56,975 53,982 Cash 19,303 17,252 D/E 0.57 0.59 D/E (Net) 0.24 0.27 Long Term D/E (Net) (0.00) (0.03) ROCE 11.4% 21.2% RONW 12.8% 19.8% 7
Slide 8: International Operations
International Operations (INR Million) Particulars Jul–Sep 19 Apr–Jun 19 Jul-Sep 18 Total Income 6,324 7,493 7,379 EBITDA 258 367 319 EBITDA % 4.1% 4.9% 4.3% PBT before Exceptional (236) (64) (2) Item Weak underlying demand in the European end markets Strong Al business subdued by weak steel bus
Slide 9: Consolidated Numbers – Q3 FY20
Consolidated Numbers – Q3 FY20 (INR Million) Particulars Q3 FY20 Q2 FY20 Q3 FY19 Particulars December 31, 2019 March 31, 2019 Total Income 18,328 21,581 24,640 Long Term Debt 24,740 19,350 EBITDA 2,361 3,176 4,169 Equity 55,555 54,059 EBITDA % 12.9% 14.7% 16.9% Cash 19,964 18,352 PBT before 980 1,96
Slide 10: De-risking and Growing
De‐risking and Growing Reduced dependence on Auto sector Strong growth in Export Industrials and Passenger Diversified Industrials business across geographies Vehicles FY 2009 FY 2019 Domestic CV 13% 18% 20% 27% Export CV 19% Domestic PV 26% Export PV 34% 17% 7% 7% Domestic 8% Industrials 4% Ex
Slide 11: Resilient Operating Model
Resilient Operating Model FY 2017 FY 2017 28.5% 21.6% DEBT / EBITDA FY 2009 FY 2013 FY 2013 4.05 23.3% 14.2% FY 2013 FY 2009 FY 2009 2.55 21.7% 11.9% FY 2017 1.48 EBITDA MARGINS PBT MARGINS 11
Slide 12: ...Driven by Segmental Diversification
...Driven by Segmental Diversification YEAR YEAR YEAR YEAR YEAR SECTOR FOCUS ON A DE‐ RISKED BUSINESS MODEL 2001 2004 2012 2015 2017 TRUCK GEOGRAPHICAL DIVERSIFICATION PASSENGER CAR CONSTRUCTION & MINING SECTOR DIVERSIFICATION AGRICULTURE OIL & GAS PRODUCT EXPANSION AEROSPACE 12
Slide 13: New Strategic Business
New Strategic Business 1 Light Weighting Center 2 E‐Mobility 3 Transmissions 4 New Technologies 13
Slide 14: Addressing E-Mobility Opportunity
Addressing E‐Mobility Opportunity Develop solutions across the entire spectrum of EV’s from low voltage powertrains in personal mobility to high voltage applications for commercial vehicles Strategic investment in EV Strategic investment in EV R&D facility in UK for powertrain start‐up company
Slide 15: Leveraging our strengths
Leveraging our strengths People Technology & Innovation Future Growth A strong knowledge workforce Steadfast focus on new product We are leveraging all our strengths to development and emerging technologies drive our next leg of growth Capacity Customer Relationship Financials State of the art advan
Slide 16: Disclaimer
Disclaimer This presentation contains certain forward looking statements concerning Bharat Forge’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 statemen
Slide 17: Thank You
BHARAT FORGE KALYANI Thank You 17