Uno Minda Limited · NSE:UNOMINDA
Uno Minda — Minda Industries — Q4 FY2022 Earnings Presentation
32 slides from Uno Minda's earnings presentation, May 24, 2022
Slide 1: Transforming the Present, Reimagining the Future
TRANSFORMING THE PRESENT, REIMAGINING THE FUTURE. INVESTOR PRESENTATION Q4 FY 2022 May 24, 2022 1
Slide 2: Safe Harbor
SAFE HARBOR This presentation and the accompanying slides (the “Presentation”), has been prepared by Minda Industries 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
Slide 3: Content
CONTENT 01. Industry Landscape 04 02. Key Operational Highlights 05 03. Financial Highlights 07 04. Strategic Business Update 22 05. Annexures 25 06. Overview: Uno Minda Group 27 3
Slide 4: Industry Highlights
INDUSTRY HIGHLIGHTS Government Initiatives: Strong PV Demand amidst Budget announcement with increase in sluggish 2W Demand: Budgeted Capex Investments in FY23 by Domestic 2Ws volumes continued to remain weak on ~35% Y-o-Y back of lower demand due to frequent price hike and decreasing purchasing pow
Slide 5: Key Operational Highlights for the Quarter
KEY OPERATIONAL HIGHLIGHTS FOR THE QUARTER Production Linked Incentive Increased stake in MKA to (PLI) Scheme: 77.35%, 4 Partnership firm Uno Minda Group was granted approval for consolidated : under Component Champion incentive scheme MIL enhanced its take in Minda kosei from 70% to under PLI on 22
Slide 6: Financial Information & Recent Updates
FINANCIAL INFORMATION & RECENT UPDATES 6
Slide 7: Key Financial Highlights for the Quarter
KEY FINANCIAL HIGHLIGHTS FOR THE QUARTER Revenues increased by 8% Y-o-Y and 10.7% Q-o-Q EBIDTA higher by 17.4% Q-o-Q to Rs 275 Cr to Rs 2,415 Cr for the quarter however lower on Y-o-Y basis as for the quarter in spite of supply side constraints the input cost pressure persists. adversely impacting a
Slide 8: Key Financial Highlights for the Year
KEY FINANCIAL HIGHLIGHTS FOR THE YEAR Revenues increased by 31% Y-o-Y to EBIDTA higher by ~22% Y-o-Y to Rs 8,313 Cr Rs 885 Cr in spite of covid waves and supply side constraints adversely impacting auto industry volumes EBIDTA margin remained stable PAT increased by 72% on Q-o-Q basis to at 10.7% Rs
Slide 9: Consolidated Financial Highlights – Q4FY22
CONSOLIDATED FINANCIAL HIGHLIGHTS – Q4FY22 Revenue (Rs. Cr) EBITDA (Rs. Cr) 303 276 100 110 15 13 2,415 190 175 2,238 Q4 FY21 Q4 FY22 Q4 FY21 Q4 FY22 PBT** Interest Depreciation MIL PAT^ (Rs. Cr) Margin (%) 13.6% 11.4% 140 144 6.3% 6.0% Q4 FY21 Q4 FY22 Q3 FY21* Q3 FY22 MIL Consol EBITDA PAT^ *Restat
Slide 10: Consolidated Financial Highlights – FY22
CONSOLIDATED FINANCIAL HIGHLIGHTS – FY22 Revenue (Rs. Cr) EBITDA (Rs. Cr) 885 727 392 375 62 8,313 6,374 74 325 494 FY21 FY22 FY21 FY22 PBT** Interest Depreciation MIL PAT^ (Rs. Cr) Margin (%) 11.4% 10.7% 356 207 3.2% 4.3% FY21 FY22 FY21 FY22 MIL Consol EBITDA PAT^ *Restated on account of Harita Mer
Slide 11: Division-wise Revenue Mix
DIVISION-WISE REVENUE MIX Q4 FY21 (%) Others Q4 FY22 (%) Others 14% 13% Seatings Switches 9% 30% Quarter Switches Seatings 33% 11% Castings 17% Castings 13% Acoustics Lighting Acoustics Lighting 22% 8% 9% 21% Others FY22 (%) 14% Others FY21 (%) Seatings Switches 12% 11% 29% Seatings Switches 11% 33%
Slide 12: Financial Indicators
FINANCIAL INDICATORS Building Shareholder Value year on year… 400 0.14 5000 22.2% 21.8% 0.25 12.1% 12.0% 16.0% Dividend 350 Profile 11.2% ROCE 0.12 4000 0.2 300 9.3% 8.1% 0.1 13.1% 13.1% 250 3000 0.15 0.08 200 2000 0.1 150 0.06 100 0.04 1000 0.05 50 310 286 155 207 356 0.02 2,056 2,697 2,967 3,076 3
Slide 13: Business Review
BUSINESS REVIEW SWITCHES LIGHTING ACOUSTICS SEGMENTS SEATING CASTINGS OTHERS AFTER MARKET 13
Slide 14: Switching Systems
SWITCHING SYSTEMS India Growth Drivers Key Developments • Premiumization /increased adoption of switches • Continued order supplies for new gen switches like • Product innovation like side stand switch sunroof, cruise control, paddle switches, Vehicle stability switches etc. • Focused export led gro
Slide 15: Lighting Systems
LIGHTING SYSTEMS India Growth Drivers Key Developments • New order win with augmented technical capabilities • Received large order for Tail Centre Position Lamp post Delvis acquisition. from a key Indian OEM • New plant at Gujarat to cater to increased demand. • Sizeable Order wins in the LED lamps
Slide 16: Acoustic Systems
ACOUSTIC SYSTEMS India Growth Drivers Key Developments • Shift in trend from traditional horn to electrical horns • Received order for speakers and tweeter from an • Recovery in European markets. Indian OEM • Increase in SoB with OEMs • European Operations took a rebound during the quarter and regis
Slide 17: Castings
CASTINGS India Growth Drivers Key Developments • Increased penetration of Alloy wheels in both 2W and • 30K line out total 60K commissioned at PV. MKA Bawal.. Remaining Capex at both • Increasing demand for Alloy Wheels in Replacement Gujarat and Bawal Plant for 4W underway Sector • Increased revenu
Slide 18: Seatings
SEATINGS India Growth Drivers Key Developments • Synergies post merger with Minda industries • Received order from a leading EV Bus OEM • Strengthening 2W segment leveraging on group OEMs • Robust export sales from Suspended seats in relations Europe • Revival of CV segment • Launch in after-market
Slide 19: Others
OTHERS India Growth Drivers Key Developments • Premiumization and regulation catalyst for growth in • Received order for accelerator pedal position Sensors and controllers sensor from 2W American OEM • Growth in Blow Moulding business • Incremental Orders for chargers from traditional EV OEMs Rs. In
Slide 20: Revenue Breakups
REVENUE BREAKUPS International Aftermarket 16% 12% Quarter 2W 45% 4W 55% India OEM 84% 88% International Aftermarket 15% 12% 2W Year 47% 4W 53% India OEM 85% 88% 20 Geography-wise Breakup Channel-wise Breakup Segment -wise Breakup
Slide 21: Aftermarket - Expanding B2C Business
AFTERMARKET- EXPANDING B2C BUSINESS 50,000+ Key Highlights Retailers • 25% Growth Y-o-Y • Leadership position in major products categories 150,000+ Workshops • Strong brand recall with loyal customer base • Continuous expansion of existing Product portfolio & Addition of new product lines - Alloys,
Slide 22: Strategic Business Update
STRATEGIC BUSINESS UPDATE Merger of HFRL and demerger of Minda iConnect: domestic business of MSBPL with Merger of Subsidiary MIL Shareholders and Unsecured Creditors have approved the scheme. The Scheme is now pending Scheme of arrangement for amalgamation of with NCLT for final approval. Hearing s
Slide 23: Capex Announcements
Capex Announcements Expansion in Indonesia Mindarika Expansion MIVCL has received from Italian 2W Expanding its 4W Switch Plant under OEM for blinkers and tail lamps. Mindariks Private Ltd at Chennai It is proposed to expand our MIVCL to serve new order received from plant in Hanoi to serve this ord
Slide 24: Moving from Components to Systems
Moving from Components to Systems UNO Minda is the first in India to certify an Intelligent Transport System as per BIS 16833 Anx D Expanding - R&D centre in Gurugram and Hosur Adding 100+ engineers in Embedded Electronics & SW MOBITS is a full system and 100% Localized Added new labs in ADAS,
Slide 25: Annexures
ANNEXURES 25
Slide 26: Consolidated Profit & Loss Statement
CONSOLIDATED PROFIT & LOSS STATEMENT Rs. Crs Particulars (Rs. Crores) Q4 FY22 Q4 FY21 Y-o-Y% Q3 FY22 QoQ% FY22 FY21 Y-o-Y% Revenue from Operations (Net of Excise) 2,415.1 2,238.3 8% 2,181.4 11% 8,313.0 6,373.7 30% Raw Material 1,547.5 1,404.4 1,402.0 5,272.0 3,919.3 Employee Cost 332.5 296.5 295.4 1
Slide 27: About Uno Minda
ABOUT UNO MINDA TRANSFORMING THE PRESENT, REIMAGINING THE FUTURE. 27
Slide 28: About Uno Minda
ABOUT UNO MINDA • Minda Industries Limited is one of the leading manufacturers of auto components domestically with leadership across key product segments. With 20+ Product Lines, 1000+ Business Partners and over 23,000 employees, covering 50,000+ touch points, the company has 6 decades of experienc
Slide 29: Global & Domestic Presence - Uno Minda
GLOBAL & DOMESTIC PRESENCE - UNO MINDA Strategically located plants across all major auto hubs Overseas 6 Plants 7 Sales Offices 4 Design Centers North and South America Europe Asia (w/o India) Mexico France Indonesia (Queretaro) (Epernon) (Karawang) India Colombia Italy Taiwan (Turin) (Tainan) (Man
Slide 30: Uno Minda's EV Product Portfolio (2W & 3W)
UNO MINDA’s EV PRODUCT PORTFOLIO (2W & 3W) Low Voltage EV Products (48V to 72V) Motor Controller Smart Plug Battery Management System On-Board Charger DC-DC Converter Body Control Module (BCM) Battery Pack Telematics Off Board Acoustic Vehicle Charger Alert System RCD Cable 30
Slide 31: Environment, Social and Governance (ESG) Initiatives
Environment, Social and Governance (ESG) Initiatives Environmental Social Corporate Governance • Group has taken various initiatives which are expected • Vision to enable and empower every member of the • Mission to continually enhance the stakeholders’ value to have environmental benefits and reduc
Slide 32: Thank You
THANK YOU. Corporate Office For further information, please contact Minda Industries Ltd. Company Investor Relations Advisors Village Nawada Fatehpur, P.O. Minda Industries Ltd. Strategic Growth Advisors Pvt. Ltd. Sikanderpur Badda, Manesar, Gurgaon – 122004, India. Mr. Ankur Modi Mr. Jigar Kavaiya