Slide 1: Gabriel India Ltd. Result Update Presentation – FY16
Gabriel India Ltd. Result Update Presentation – FY16
Slide 2: Disclaimer
This presentation and the accompanying slides (the “Presentation”), has been prepared by Gabriel India 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 not form the basis or b
Slide 3: Consistent Performance Continues in FY16
Consistent Performance Continues in FY16 Revenue EBITDA EBITDA Margin*% Rs. 14,382 Mn Rs. 1,296 Mn 9% -0.4% +11% 81 bps PBT PAT ROIC % Rs. 961 Mn Rs. 752 Mn 27.8% +14% +25% 110 bps Note: All comparison are Year on Year *Adjusted for one time items of royalty reversal Rs 21 millions and bonus provisi
Slide 4: Strong Performance Continues in Q4 FY16
Strong Performance Continues in Q4 FY16 Revenue EBITDA EBITDA Margin*% Rs. 3,662 Mn Rs. 331 Mn 9% 5% +16% 78 bps PBT PAT Cash PAT Rs. 255 Mn Rs. 209 Mn Rs. 290 Mn +26% +62% +41% Note: All comparison are Year on Year * Adjusted for one time bonus provision of Rs 4.86 million in quarter ended March 20
Slide 5: Margin Expansion Continues
Margin Expansion Continues EBITDA Margin % PBT Before Exceptional Item Margin % 9.0% 6.7% 8.1% +81 bps 5.8% + 85 bps 7.1% 6.7% 4.3% 3.4% FY13 FY14 FY15 FY16* FY13 FY14 FY15 FY16 * EBITDA adjusted for one time items of royalty reversal Rs 21 million and provision towards bonus of Rs. 41.12 million (i
Slide 6: Strong Balance Sheet
Strong Balance Sheet D:E Ratio ROIC* (%) 0.31 27.8% 26.7% 0.23 19.9% 18.0% 0.04 0.03 FY13 FY14 FY15 FY16 FY13 FY14 FY15 FY16 6
Slide 7: Key Highlights
Key Highlights Revenue led by Higher Volumes in PC, CV segment and 1 Aftermarket Channel , partially compensated decline in 2W Volumes Improved Product Mix and falling commodity prices led to 2 reduction in RMC Costs Cost Efficiency and Lower Interest Payouts enabling 3 EBITDA and PBT margins improv
Slide 8: Revenue Mix
Revenue Mix (Rs. Mn) Segment – Mix Channel – Mix 14,441 14,382 14,441 14,382 4% 4% 9% 11% 11% 13% 28% 31% 85% 83% 63% 58% FY15 FY16 FY15 FY16 Commercial Vehicles Exports Passenger Car Replacement 2W OE 8
Slide 9: Improving Dividend Profile
Improving Dividend Profile Dividend Per Share (Rs.) 1.2 • Continuous Dividend 1.05 since 1998 0.85 • Stable Payout Ratio 0.75 • Declared Final Dividend 0.5 0.5 of Rs. 0.75 per share, amounting to 75% of Face Value. • Total Dividend of Rs.1.20 FY11 FY12 FY13 FY14 FY15 FY16 per share of Re.1 each 15%
Slide 10: Profit & Loss Highlights
Profit & Loss Highlights Rs. Mn FY16 % of Sales FY15 % of Sales YoY% Q4 FY16 % of Sales Q4 FY15 % of Sales YoY% Revenue 14,382 100.0% 14,441 100.0% (0.4%) 3,662 100.0% 3,484 100.0% 5% Raw Material 10,282 71.5% 10,434 72.3% 2,628 71.8% 2,494 71.6% Employee Expenses* 1,150 8.0% 1,077 7.5% 279 7.6% 277
Slide 11: Balance Sheet Highlights
Balance Sheet Highlights Rs. Mn Mar-16 Mar-15 Rs. Mn Mar-16 Mar-15 Shareholder’s Fund 3,799 3,254 Non-current assets 2,997 2,958 Share capital 144 144 Fixed assets 2,746 2,708 Reserves & Surplus 3,656 3,111 Long-term loans and advances 236 226 Non-current liabilities 277 260 Other non-current assets
Slide 12: Quarterly Performance Trend
Quarterly Performance Trend (Rs. Mn) Revenue EBITDA EBITDA Margin% 3,752 350 9.9% 3,662 329 331 3,484 3,548 8.8% 9.0% 3,419 284 283 8.2% 8.3% Q4 Q1 Q2 Q3 Q4 Q4 Q1 Q2 Q3 Q4 Q4 Q1 Q2 Q3 Q4 FY15 FY16* FY16 FY16** FY16** FY15 FY16* FY16 FY16** FY16** FY15 FY16* FY16 FY16** FY16** PBT Before Exceptional
Slide 13: Reduction in borrowings
Reduction in borrowings 1400 1300 1,251 1200 1100 288 1000 900 813 800 83 670 700 600 671 500 551 468 400 300 200 139 112 276 100 171 195 101 59 0 Mar '12 Mar '13 Mar '14 Mar '15 Mar '16 Public Deposits Working capital Term loan Finance lease Others Total • Company stopped accepting Public Deposits
Slide 14: Working Capital Improvement
Working Capital Improvement Net Working Capital Days 34 33 28 26 24 FY12* FY13* FY14* FY15* FY16* *Debtors including Bills discounted with banks. Company accumulated Cash Surplus of Rs 362 Millions as on 31st March 2016 as a consequence of better working capital management and improved margins 14
Slide 15: Capital Expenditure Trends
Capital Expenditure Trends Capital Expenditure (Rs. Mn) 800 692 700 600 500 396 388 400 348 300 200 100 0 FY 13 FY 14 FY 15 FY 16 15
Slide 16: Business Overview
Business Overview Head Office, Pune, India16
Slide 17: An Introduction
An Introduction Incorporation of Company, Gabriel India, in 1961 No “OE” accounts for more than 20% of Pioneer of Ride Control Products in the country sales Established significant presence in all channels of automotive sale, OE, Aftermarket and Exports Well diversified OEM Customer Base in every au
Slide 18: Pioneer of Ride Control Products…
Pioneer of Ride Control Products… 2/3 Passenger Commercial Vehicle & Wheeler Car Railways Front Forks McPherson Struts Shock Absorbers Hydraulic Shock Gas Shock Absorbers Cabin Dampers Absorbers Gas Shock Absorbers Cartridges Seat Dampers AFTER MARKET ACROSS ALL SEGMENTS 18
Slide 19: ... With Diversified Revenue-Mix
... With Diversified Revenue-Mix Sales (Rs. Mn) Segment - Wise – FY16 CAGR +13% 2/3 14,441 14,382 Wheelers 58% 12,745 11,960 11,153 9,617 Passenger Commercial cars Vehicles 31% 11% 6,883 Channel - Wise - FY16 Aftermarket OE 13% 83% FY10 FY11 FY12 FY13 FY14 FY15 FY16 Exports 4% 19
Slide 20: Strategic Manufacturing Footprint
Strategic Manufacturing Footprint Ashok Leyland SML Isuzu Honda Cars GIL Presence Tata Motors Honda Motorcycles TVS Motors GIL Plants ICML Yamaha India Parwanoo Maruti Suzuki GIL Satellite Locations Suzuki Motorcycles Khandsa AMW Sanand Dewas GM Tata Motors Nashik Hindustan Motors Honda Motorcycles
Slide 21: Industry Accolades
Industry Accolades “Overall Cost Reduction” Award from Suzuki Motorcycles for 2015-16 Recognized by CII for “Strong Commitment to HR Excellence” at the 6th National HR Excellence Conclave to Gabriel, Chakan 21
Slide 22: Going Ahead
Going Ahead Head Office, Pune, India 22
Slide 23: Strategy to grow…
Strategy to grow… - Debt Reduction - BEP Reduction - Simplification TECHNOLOGY & - Automation INNOVATION EFFICIENCY IMPROVEMENT - R & D Focus - Sustainable Manufacturing - Innovation Culture SALES GROWTH - Exports Focus - In Organic Growth - Global Manufacturing Footprint - Customer Focus 23
Slide 24: …With SBU Approach
…With SBU Approach SBU Structure for focused approach • Created Strategic Business Units for each automotive segment : 2Wheelers/ 3Wheelers, Passenger Cars & Commercial Vehicles / Railways and After-Market Channel • To derive benefits in • Customer & Product Focus • Export Push • After market expans
Slide 25: For further information, please contact:
For further information, please contact: Company : Investor Relations Advisors : Gabriel India Ltd. Strategic Growth Advisors Pvt. Ltd. CIN : L34101PN1961PLC015735 CIN : U74140MH2010PTC204285 Mr. Rajendran Arunachalam Ms. Sanjita Ghosh / Mr. Shogun Jain rajendran.arunachalam@gabriel.co.in gsanjita@s