Spr Auto Technologies Ltd · NSE:SHRIPISTON
Spr Auto Technologies — Shriram Pistons & Rings — Q1 FY25 Earnings Presentation
46 slides from Spr Auto Technologies's earnings presentation, Jul 27, 2024
Slide 1: Cover letter to NSE on Investor Presentation
July 27, 2024 National Stock Exchange of India Limited Exchange Plaza, 5th Floor, Plot No. C/1, G Block, Bandra Kurla Complex, Bandra (East) Mumbai – 400051 ISIN: INE526E01018 Company Symbol: SHRIPISTON Subject: Investor Presentation on Un-audited Financial Results for the Quarter ended on June 30,
Slide 2: Investor Presentation Q1FY25
Investor Presentation Q1FY25 July 2024 NSE : SHRIPISTON | www.shrirampistons.com
Slide 3: Safe Harbor
Safe Harbor This Presentation and the accompanying slides (the “presentation”), have been prepared by Shriram Pistons & Rings Limited (the “Company”), solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall
Slide 4: Table of contents
Table of contents 1 Quarterly Financial Highlights 2 Company Overview 3 Industry Overview 4 Annual Financial Highlights 5 Annexures 3
Slide 5: Quarterly Financial Highlights
Quarterly Financial Highlights 4
Slide 6: Q1FY25 Key Financial Metrics
Q1FY25 Key Financial Metrics (Rs Million) Total Income EBITDA * & EBITDA Margin (%) PAT & PAT Margin (%) 22.5% 22.2% 13.8% 13.6% +17 % YoY 8,634 +16 % YoY +15 % YoY Consolidated 7,355 1,918 1,172 1,652 1,015 Q1 Q1 Q1 FY24 FY25 FY24 FY25 FY24 FY25 +7 % YoY 22.7% 23.0% 14.1% 14.6% Standalone 7,855 +9
Slide 7: Q1FY25 P&L Statement - Consolidated
Q1FY25 P&L Statement - Consolidated (Rs Million) Particulars Q1FY25 Q1FY24 YoY FY24 FY23 YoY Revenue from Operations 8,371 7,164 16.8% 30,893 26,093 18.4% Other Income 263 191 853 467 Total Income 8,634 7,355 17.4% 31,746 26,560 19.5% Total Operating Expenses 6,716 5,703 24,473 21,490 EBITDA* 1,918
Slide 8: Q1FY25 P&L Statement - Standalone
Q1FY25 P&L Statement - Standalone (Rs Million) Particulars Q1FY25 Q1FY24 YoY FY24 FY23 YoY Revenue from Operations 7,612 7,139 6.6% 29,537 26,050 13.4% Other Income 243 184 813 462 Total Income 7,855 7,322 7.3% 30,351 26,513 14.5% Total Operating Expenses 6,048 5,664 23,237 21,416 EBITDA* 1,807 1,65
Slide 9: Company Overview
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Slide 10: Shriram Pistons & Rings: At a Glance
Shriram Pistons & Rings: At a Glance Shriram Pistons & Rings Limited (SPRL) is the leading manufacturer of Pistons, Piston Pins, Piston Rings, and Engine Valves in India, with the exceptional lineage of the Shriram Group - one of the most reputed Industrial houses in the country. Its products are ma
Slide 11: Why Shriram Pistons & Rings?
Why Shriram Pistons & Rings? Established Market Player Global Reach More than 5 decades of Industry presence backed by Presence in 45+ countries across 5 strong leadership continents Leading manufacturer of pistons, piston pins, piston Preferred choice of global automotive rings & engine valves cust
Slide 12: Our Journey of over 5 decades
Our Journey of over 5 decades 1972 1978 1989 1993 1993 Dr. Charat Ram, a leading Industrialist Technology tie-up Technology tie-up Technology tie-up with took over Shama Pistons & Rings Ltd. Engine Valves with Riken with Honda Fuji Oozx, Japan; and renamed it to Shriram Pistons & manufacturing comme
Slide 13: Exceptional lineage of the Shriram Group
Exceptional lineage of the Shriram Group, one of the most reputed Industrial houses Founded by Dr. Charat Ram, a pillar, visionary and the face of the Indian business sector, who played a significant role in shaping the Indian industry. Driven by his relentless pursuit of excellence, he meticulously
Slide 14: State-of-the-art Facilities
State-of-the-art Facilities Manufacturing Facilities Under SPRL Under SEL SPR EMF Innovations SPR Takahata Precision Pvt. Ltd. India Pvt. Ltd. Ghaziabad, Pathredi, Bulandshahr Road, Pithampur, Coimbatore, Neemrana, Uttar Pradesh Rajasthan Uttar Pradesh Madhya Pradesh Tamil Nadu Rajasthan • Pistons •
Slide 15: Achieving Design Excellence Through Our Ultra Modern Tech Centre
Achieving Design Excellence Through Our Ultra Modern Tech Centre SPRL Tech Centre is fully equipped to provide complete and comprehensive solutions, catering to the exacting needs of the hi-tech, new generation engines Mr. S. Krishnakumar, Managing Director & CEO: “At SPRL, we have always focused on
Slide 16: Leading player in Pistons, Piston Pins, Piston Rings & Engine Valves
Leading player in Pistons, Piston Pins, Piston Rings & Engine Valves ❖ Catering to wide range of new generation BS VI 2/3 wheelers, Passenger Cars, GDI & MPFI Forged KS Lite Crown Anodizing Piston & engines, etc Thin walled Piston Pins ❖ Capability to build Pistons from scratch with extensive use of
Slide 17: Long-standing Technology Partnerships with Global Majors
Long-standing Technology Partnerships with Global Majors Since 1972 Since 1978 Since 1989 Since 1993 PISTONS RINGS PISTONS ENGINE VALVES Riken Corporation Honda Foundry FUJIFujiOOZX Oozx Kolbenschmidt Germany Japan Japan Japan 21.3% Holding in SPRL ❖ Ranks among the 100 biggest auto ❖ Founded in 192
Slide 18: Leading supplier in the Domestic Market
Leading supplier in the Domestic Market Assembly Units located in: Domestic Revenue (Rs Million) Gurugram, 23,901 20,758 Haryana 16,224 13,128 12,918 Karsanpura, Gujarat FY20 FY21 FY22 FY23 FY24 Sahibabad, Uttar Pradesh 5 1,200+ Assembly Units Business Partners Hosur, Pune, Tamil Nadu ❖ 5 Assembly U
Slide 19: Strong Domestic Market Presence across Product Segments
Strong Domestic Market Presence across Product Segments Commercial Passenger Two- Tractors Off-Highway, Vehicles Vehicles wheelers Industrials & Gensets In addition to the above-mentioned product segments, we also cater to Indian Railways (for Engines) and Defence applications 18
Slide 20: Well established player with Customer base across Geographies
Well established player with Customer base across Geographies Export Revenue Key Exports Destinations (FY24) (Rs Million) 2% 12% 37% Europe 5,182 4,841 South America 4,010 12% Revenue Middle East 2,650 2,798 Break-Up North America Asia Pacific 16% FY20 FY21 FY22 FY23 FY24 Africa 22% #1 5 45+ Exporte
Slide 21: Diversifying Portfolio for Future Readiness
Diversifying Portfolio for Future Readiness SPR (through its 100% subsidiary SPR Engenious Ltd.) acquired SPR (through its 100% subsidiary SPR Engenious Ltd.) acquired 62% 66.42% stake in SPR EMF Innovations Pvt. Ltd. stake in SPR Takahata Precision India Pvt. Ltd. ❖SPR EMF Innovations (EMFi) is a y
Slide 22: EMFi – Product Portfolio
EMFi – Product Portfolio Low Voltage Motor - Controller System 48V – 96V High Voltage Motor - Controller System 330V – 800V 250W - 4.0kW 3.3kW - 6.0kW 7.5kW - 13.0kW 15.0kW - 35.0kW 60.0kW - 120.0kW 15.0kW - 60.0kW 3:1 Power Train for Passenger Car Hub Motor : 250W to 4000W (48V to 72V System) LTV ,
Slide 23: Takahata – Product Portfolio
Takahata – Product Portfolio FI- Components Throttle Unit Brake Unit Brake Unit FI- Components ECU Air Bag Door Lock FI- Connectors Steering Steering 22
Slide 24: Seasoned Board Of Directors Providing Expert Oversight
Seasoned Board Of Directors Providing Expert Oversight Mr. Pradeep Dinodia Mr. Hari S. Bhartia Ms. Ferida Chopra Ms. Meenakshi Dass Chairman Independent Director Independent Director Non-Executive Director (Non-Executive Non- Independent Director) ❖ On the board since 2003 ❖ On the board since 2009
Slide 25: The Visionary Leaders Who Drive SPRL
The Visionary Leaders Who Drive SPRL Mr. Krishnakumar Mr. Sandeep Agrawal Mr. Devendra Mishra Srinivasan Mr. Rajan Nanda Mr. Sandeep Kalia Executive Director & Executive Director Executive Director - Executive Director - Managing Director & CMO Pathredi CEO Ghaziabad ❖ 37+ Years of ❖ 33+ Years of ❖
Slide 26: Huge Focus on Sustainability (1/2)
Huge Focus on Sustainability (1/2) Environmental Social Governance ❖ Implemented ISO 14001 Environmental ❖ Utmost importance to the Health and Safety of ❖ Steering Committee on ESG under chairmanship Management Systems at both manufacturing sites workers at the plant/factory of our MD & CEO ❖ Three
Slide 27: Huge Focus on Sustainability (2/2)
Huge Focus on Sustainability (2/2) Environmental Initiatives Social Initiatives Governance Initiatives ❖ 20% Increase in mix of ❖ 10% Reduction in Attrition Rate ❖ Voluntary disclosure of BRSR Renewable Energy ❖ #2 days trainings on average ❖ Strong commitment of Board ❖ 30% Increase in use of Recyc
Slide 28: Industry Overview
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Slide 29: Indian Auto Components Industry: A Promising Future
Indian Auto Components Industry : A Promising Future Indian Auto Components Industry Size and Growth Component Sales By Category (FY23) Auto Components Exports – Size and Growth (USD Bn) (USD Bn) CAGR 14% CAGR 15% Others, 30 200 31% Engine Components, 25% Drive 19 20 Transmission & 117 Steering, 15
Slide 30: India's Thriving Automotive Industry
India’s Thriving Automotive Industry Indian Auto Industry Size (Volumes) Automobile Exports (Volumes) (Million) (Millions) Production Domestic Sales 5.6 28.4 26.4 25.9 4.8 4.8 22.7 23.0 23.9 4.5 21.6 21.2 4.1 18.6 17.6 FY20 FY21 FY22 FY23 FY24 FY20 FY21 FY22 FY23 FY24 Source: SIAM Why is India favou
Slide 31: Electric Vehicles: An Evolving Segment
Electric Vehicles: An Evolving Segment EV Sales (in Thousand) & EV Penetration (%) in India EV Sales (in Thousand) & EV Penetration (%) EV Sales Forecast* (in Million) by Vehicle Category in India Low Adoption Medium Adoption High Adoption 0.7% 1.8% 4.8% 6.4% 0.2% 5.0% 22.6% 54.3% 0.2% 2.1% 0.2% 3.4
Slide 32: Internal Combustion (IC) Engines: Alternate Fuel Solutions
Internal Combustion (IC) Engines…….: Alternate Fuel Solutions Hybrid Hydrogen LNG Industrial CNG Flex 31
Slide 33: Internal Combustion (IC) Engines: Growth Story will continue
Internal Combustion (IC) Engines : Growth Story will continue While the EV Industry is witnessing a boom, it is facing numerous challenges and still has a long way to go. In the meanwhile, Internal Combustion (IC) Engines will continue to grow with the growing Automotive Industry. Insufficient Power
Slide 34: All Segments expected to Grow
All Segments expected to Grow EV Penetration not expected EV Penetration expected Includes Exports, Aftermarket, Commercial Vehicles, Tractors, Off- Includes Passenger Vehicles & 2/3 Wheelers highway, Industrials and Gensets, Railway and Defence Presence across diverse segments positions SPRL in a c
Slide 35: Annual Financial Highlights
Annual Financial Highlights 34
Slide 36: Key Financial Metrics over the years
Key Financial Metrics over the years (Rs Million) Total Income EBITDA & EBITDA Margin (%) PAT & PAT Margin (%) FY24 vs FY23 Growth: 14% 40% 51% 12.4% 14.5% 15.9% 19.2% 23.4% 4.5% 5.5% 7.8% 11.1% 14.7% 7,114 4,468 30,351 26,513 5,097 20,939 2,956 16,266 16,162 3,337 2,351 1,636 2,018 888 730 FY20 FY2
Slide 37: Key Ratios over the years
Key Ratios over the years Debt-to-Equity Ratio (x) Interest Coverage Ratio (x) 0.24 29.2 28.3 0.22 26.2 0.16 18.7 16.3 0.13 0.13 FY20 FY21 FY22 FY23 FY24 FY20 FY21 FY22 FY23 FY24 Net Working Capital Cycle (Days) ROE & ROCE (%) 29.2% ROE ROCE 71 68 68 23.8% 22.9% 58 54 19.3% 16.9% 13.0% 10.5% 8.3% 7.
Slide 38: P&L Statement
P&L Statement (Rs Million) Particulars FY20 FY21 FY22 FY23 FY24 Revenue from Operations 16,068 15,966 20,647 26,050 29,537 Other Income 198 196 292 462 813 Total Income 16,266 16,162 20,939 26,513 30,351 Total Expenses 14,248 13,811 17,602 21,416 23,237 EBITDA 2,018 2,351 3,337 5,097 7,114 EBITDA Ma
Slide 39: Balance Sheet
Balance Sheet (Rs Million) Assets FY23 FY24 Equity & Liabilities FY23 FY24 Non-Current Assets Equity Share Capital 220 441 Other Equity 15,075 19,058 Property, Plant & Equipment 5,374 5,235 Total Equity 15,296 19,499 Capital Work in Progress 46 94 Liabilities Goodwill & Other Intangible Assets 229 2
Slide 40: Abridged Cash Flow Statement
Abridged Cash Flow Statement (Rs Million) Cash Flow Statement FY23 FY24 Cash Flow from Operating Activities Profit Before Tax 3,969 5,989 Adjustment for Non-Operating Items 726 426 Operating Profit before Working Capital Changes 4,695 6,415 Changes in Working Capital 335 (196) Cash Generated from Op
Slide 41: Annexures
Annexures 40
Slide 42: SPRL Group Structure
SPRL Group Structure Products are marketed to almost all OEMs and Aftermarkets under brands SPR and USHA (100% Subsidiary of SPRL) (62% Stake) (66.42% Stake) SPR Takahata Precision India Private Limited (TPI) SPR EMF Innovations Private Limited (EMFi) (formerly Takahata Precision India Private Limit
Slide 43: Creating value for our Shareholders
Creating value for our Shareholders Shareholding as on 30th June 2024 Share Information as on 30th June 2024 Others 15.0% NSE Ticker SHRIPISTON Shares Outstanding (Million) 44.0 Promoters Market Cap (Rs. Million) 84,195 Bodies 46.8% Corporate (incl. % Free Float 53.2% overseas) Free Float Market Cap
Slide 44: Awards and Accolades
Awards and Accolades ❖ From Automotive Component Manufacturers Assn. Of India (ACMA) ❖ 'The Golden Peacock Award’ for "Excellence in ➢ Atmanirbhar Excellence Award For Exports (Very Large Category) Corporate Governance - 2022” from Institute of ➢ Excellence in New Product Design, Development & Local
Slide 45: Committed to Giving Back to the Society
Committed to Giving Back to the Society Awards from Rajasthan Govt. Annual CSR Spend Govt. Girls Sr. Sec. School, Tijara Adop. of Village Kunheda, Ghaziabad (Rs Millions) 51.95 29.73 30.90 Before After Environment Mobile Medical Van, Pathredi Dispensary in Tapukara Dispensary In Bhiwadi FY22 FY23 FY
Slide 46: Thank You
Thank You Contact Us Shriram Pistons & Rings Ltd. Prem Rathi Executive Director & CFO prem.rathi@shrirampistons.com Pankaj Gupta Dy. Executive Director, Head Legal & Company Secretary pankaj.gupta@shrirampistons.com Ernst & Young LLP Rohit Anand / Riddhant Kapur / Anubhav Khandelwal rohit.anand4@in.
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