Ppap Automotive Limited · NSE:PPAP
Ppap Automotive — Q3 FY23 Earnings Presentation
36 slides from Ppap Automotive's earnings presentation, Feb 4, 2023
Slide 1: Exchange filing cover letter
4th February, 2023 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 Inves
Slide 2: PPAP Automotive Limited Investor presentation – February 2023
PPAP Automotive Limited PPAP Automotive Limited TAKING CHALLENGES, TOGETHER Investor presentation – February 2023
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: Financial Highlights
Financial Highlights 7 A V/A
Slide 5: Key Highlights
Key Highlights 9MFY23 Performance • The standalone revenue grew by 24.4% to Rs 365.2 crores against corresponding period last year on account of supplying parts to newer models across OEMs • The company witnessed an EBITDA growth of 27.5% to Rs 34.4 crores on a YoY basis due to improved capacity uti
Slide 6: Management Commentary
Management Commentary Commenting on the results and performance for Q3 & 9MFY23, Mr. Ajay Kumar Jain, Chairman & MD of PPAP Automotive Ltd said: “The automobile sector is growing steadily on the back of rise in sales, premiumization of cars and ease of semi-conductor chip shortage. The launch of new
Slide 7: Key Highlights
Key Highlights INR Cr Revenue EBITDA PAT +234% +24% 365.2 +27% 34.4 5.6 293.7 27.0 1.7 9MFY22 9MFY23 9MFY22 9MFY23 9MFY22 9MFY23 6
Slide 8: Segmental Breakup
Segmental Breakup 8.1% 12.4% 9MFY22 Q3FY22 87.6% 91.9% 6.9% 11.0% 9MFY23 Q3FY23 89.0% 93.1% Parts Tools & Others 7
Slide 9: Standalone P&L – Q3 & 9M FY23
Standalone P&L – Q3 & 9M FY23 Particulars (INR Cr) Q3 FY23 Q3 FY22 Y-o-Y (%) Q2 FY23 Q-o-Q (%) 9M FY23 9M FY22 Y-o-Y (%) Revenue from operations 124.8 111.2 12.2% 124.2 0.5% 365.2 293.7 24.4% COGS 78.0 68.3 75.6 223.8 177.1 Key Performance Highlights: Gross Profit 46.8 43.0 9.0% 48.6 -3.7% 141.4 116
Slide 10: Consolidated P&L – Q3 & 9M FY23
Consolidated P&L – Q3 & 9M FY23 Particulars (INR Cr) Q3 FY23 Q3 FY22 Y-o-Y (%) Q2 FY23 Q-o-Q (%) 9M FY23 9M FY22 Y-o-Y (%) Revenue from operations 127.1 114.6 10.9% 128.5 -1.1% 378.8 299.3 26.6% COGS 78.8 70.5 77.5 231.3 180.3 Gross Profit 48.3 44.1 9.5% 51.0 -5.4% 147.6 119.0 24.0% Gross Profit Mar
Slide 11: Company Overview
Company Overview 7 A V/A
Slide 12: Business – at a Glance
Business – at a Glance Automotive Parts Business • Core competence in developing Automotive Body Sealing systems and Interior and Exterior Injection molded parts. • All products are engine agnostic products • Enhancing per car contribution by adding more products and increasing the customer base in
Slide 13: Company Ethos
Company Ethos Vision Statement To be our customer’s No. 1 supplier Mission Statement Our Values To be a global level excellence company, with an inspiring work culture, • Trustworthiness for serving our customers and our society, • Mutual Respect by exceeding the expectations, • Creativity of all ou
Slide 14: Journey Towards Excellence…
Journey Towards Excellence… 1990-2002 2008-2014 2018-2020 • Established Plant - V (Vallam Vadgal) • Conversion of partnership • Listed on BSE and NSE and Plant VI (Ukhlod) firm to private company • Established Plant - III (Surajpur) and Plant - IV (Pathredi) • VW, Hyundai & Kia added as • Establishe
Slide 15: Board of Directors
Board of Directors A Fellow Member of the Institute Bachelor of Commerce from B.E. (Mech.) from I.I.T. Roorkee of Chartered Accountants of India Shri Ram College of and M.B.A. from IIM, Ahmedabad Commerce, Delhi University Managing Partner of K.S. Gupta Has a rich and diverse top Co., Chartered Acco
Slide 16: Operating Locations…
Operating Locations… The Company’s state of the art manufacturing facilities are strategically located across the PVs automotive hubs in Northern, Southern and Western India JAMMU & KASHMIR LADAKH HIMACHAL PRADESH PUNJAB UTTARANCHAL HARYANA SIKKIM ARUNACHAL DELHI PRADESH UTTAR RAJASTHAN PRADESH ASSA
Slide 17: Manufacturing Facilities…
Manufacturing Facilities… Part & Tool Plastic Extrusion PVC / TPO / PP MATERIAL Design Manufacturing • 4 Locations; 15 Extrusion Lines • Bending technology, Welding technology, Chrome SUS extrusion and Notching technology Rubber Extrusion EPDM & TPV MATERIAL • 2 Locations; 3 EPDM extrusion lines, 1
Slide 18: Passenger Vehicle Products
Passenger Vehicle Products PPAP offers a diverse range of products that are applicable to both EV and non-EV vehicles SUN ROOF/ ROOF MOULDING DRAIN HOSE BACK DOOR MOULDING OPENING WINDSHIELD WAIST SEAL OUTER SLIDE RAIL CTR UPPER WEATHERSTRIP INNER AIR SPOILER GLASS RUN CHANNEL Hood Seal DAM WINDSHIE
Slide 19: Passenger Vehicle Products
Passenger Vehicle Products PPAP offers a diverse range of products that are applicable to both EV and non-EV vehicles REAR TRAY REAR PILLAR TAIL GATE Commercial Vehicle Product DOOR PARTITION DOOR MOULDING CABIN INSTRUMENT PANEL TRUNK LINING GRILLE LOWER LNG REAR PANEL FRONT BUMPER BODY SIDE MOULDIN
Slide 20: Two Wheeler Products
Two Wheeler Products PPAP offers a diverse range of products that are applicable to both EV and non-EV vehicles Molded Seat Base Fender Rear, Upper Shield, Leg Front Cover Handle, Front Fender Rear, Lower Air Connecting Tube Cover Leg, Shield Cover, Under Foot board Leg Shield Injection Moulding Shi
Slide 21: EV Components – High Growth Market
EV Components – High Growth Market PPAP intends to manufacture a variety of electric vehicle components in order to meet the growing demand for EVs Molded Seat Base Battery Pack for Shield, Leg Front Fender Rear, Upper Cover Handle, Front Electric Vehicles Fender Rear, Lower Air Connecting Tube Cove
Slide 22: Diversified Product Mix
Diversified Product Mix Plastic Injection Tools Battery Pack for Back up power Pail Containers Application : Solar Street Light Mobile Towers UPS Tonnage – Upto 850 Tons The battery packs are used in Containers for storing fertilizers, Size – 1500 (L) x 1000 (W) x 850 (H) multiple products for provi
Slide 23: Aftermarket – A Large Opportunity
Aftermarket – A Large Opportunity • The Company has ventured into development of parts and accessories for aftermarket. • The products are sold through the wholly owned subsidiary Elpis Components Distributors Private Limited • Currently, this segment contributes 3% of revenue and is expected to inc
Slide 24: Esteemed Clientele
Esteemed Clientele Passenger Vehicle Battery Packs – Two Wheeler Tooling EV Two Wheelers EV Customer Battery Packs – Storage System EV Customer Commercial Vehicle Pail Containers Note - The Brand Names mentioned are the property of their respective owners and are used here for identification purpose
Slide 25: Growth Roadmap – Explore, Expand & Excel
Growth Roadmap – Explore, Expand & Excel Strengthen and grow Automotive Parts business ▪ Development of value-added parts that will command higher prices and 01 contribute to higher margins ▪ Increase per car value for existing customers and continue to add new customers To Strengthen & Market Place
Slide 26: Why Trust PPAP… at a glance
Why Trust PPAP… at a glance 01 01 02 03 04 Continuous improvement Portfolio approach to Organic growth Sound financials giving of operational efficiency margin-rich blended complemented by adding headroom to fund its product mix new clients and geographies growth • Cost sensitive working • The Compa
Slide 27: ESG Initiatives
ESG Initiatives Environment • PPAP is dedicated to reducing the environmental footprint through an efficient and process-oriented approach • PPAP has been taking initiatives for reducing energy consumption and GHG emissions by installing rooftop solar and introducing various energy efficient technol
Slide 28: Robust Governance Framework
Robust Governance Framework Governance Board of Directors • PPAPs philosophy for governance aims to achieve the highest standards of corporate governance, accountability, sustainability and compliance of all the laws in the letter and spirit Committees • PPAP strongly believes that effective and goo
Slide 29: Historical Financials
Historical Financials 7 A V/A
Slide 30: Standalone P&L
Standalone P&L Particulars (INR Cr) FY22 FY21 FY20 FY19 Revenue from operations 409.1 321.2 360.0 411.0 COGS 247.1 182.6 195.9 210.6 Gross Profit 162.0 138.5 164.1 200.4 Gross Profit Margin 39.6% 43.1% 45.6% 48.8% Employee Expenses 69.6 61.2 66.1 71.3 Other Expenses 53.3 43.6 47.3 51.9 EBITDA 39.0 3
Slide 31: Standalone Balance sheet
Standalone Balance sheet Liabilities (INR Cr) Sep-22 Mar-22 Mar-21 Mar-20 Assets (INR Cr) Sep-22 Mar-22 Mar-21 Mar-20 Equity Non Current Assets Property, Plant and Equipment 254.1 261.4 230.6 221.7 Equity Share capital 14.0 14.0 14.0 14.0 Capital work-in-progress 36.2 20.8 20.1 7.9 Other Equity 302.
Slide 32: Standalone Cash Flow
Standalone Cash Flow Particulars (INR Cr) Sep-22 Mar-22 Mar-21 Mar-20 Net Profit Before Tax 7.2 6.1 6.3 23.1 Adjustments for: Non Cash Items / Other Investment or Financial Items 17.8 31.5 27.0 27.8 Operating profit before working capital changes 25.0 37.6 33.3 50.9 Changes in working capital -8.2 6
Slide 33: Consolidated P&L
Consolidated P&L Particulars (INR Cr) FY22 FY21 FY20 FY19 Revenue from operations 421.9 322.2 359.5 411.0 COGS 255.8 183.0 195.2 210.6 Gross Profit 166.1 139.2 164.3 200.4 Gross Profit Margin 39.4% 43.2% 45.7% 48.8% Employee Expenses 72.2 62.2 66.2 71.3 Other Expenses 55.2 44.1 47.4 51.9 EBITDA 38.6
Slide 34: Consolidated Balance sheet
Consolidated Balance sheet Liabilities (INR Cr) Sep-22 Mar-22 Mar-21 Mar-20 Assets (INR Cr) Sep-22 Mar-22 Mar-21 Mar-20 Equity Non Current Assets Equity Share capital 14.0 14.0 14.0 14.0 Property, Plant and Equipment 267.2 273.9 234.9 221.7 Other Equity 287.9 289.9 292.2 289.2 Capital work-in-progre
Slide 35: Consolidated Cash Flow
Consolidated Cash Flow Particulars (INR Cr) Sep-22 Mar-22 Mar-21 Mar-20 Net Profit Before Tax 0.1 0.1 3.2 22.0 Adjustments for: Non Cash Items / Other Investment or Financial Items 36.7 36.7 28.6 28.7 Operating profit before working capital changes 36.9 36.9 31.9 50.7 Changes in working capital -12.
Slide 36: 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