Cie Automotive India Ltd · NSE:CIEINDIA
Cie Automotive India — Mahindra CIE Automotive — Q3 2022 Earnings Presentation
32 slides from Cie Automotive India's earnings presentation, Oct 18, 2022
Slide 1: Filing cover letter to BSE and NSE
Mahindra CIE Automotive Limited Suite F9D, Grand Hyatt Plaza (Lobby Level), Off Western, Express Highway, Santacruz (E), Mumbai - 400 055, India Tel: +91 22 62411031 Fax: +91 22 62411030 www.mahindracie.com mcie.investors@cie-india.com SEC/2022/132 18th October, 2022 BSE Limited National Stock Excha
Slide 2: Q3 & 9 Months CY2022 Results
Q3 & 9 Months CY2022 Results 18 Oct 2022 I MUMBAI
Slide 3: Disclaimer
Mahindra CIE Disclaimer Mahindra CIE Automotive Limited, herein referred to as MCAL provides a wide array of presentations and reports, with the contributions of various professionals. These presentations and reports are for informational purposes and private circulation only and do not constitute a
Slide 4: Index
Index 1 OVERVIEW 2 Q3 CY2022 RESULTS 3 9M CY2022 RESULTS 4 MARKET UPDATE 5 SEBI RESULTS 3
Slide 5: Overview
T OVERVIEW CIE Automotive
Slide 6: Overview: Legal Structure
OVERVIEW LEGAL STRUCTURE CIE through it’s subsidiaries M&M 9.25% 65.71% 100% 100% 100% 100% 100% 100% BF Bill Forge Stokes Aurangabad CIE Galfor Precision de Mexico CIE Hosur Group Electricals S.A. Private S de RL de Limited Limited Limited* Limited CV 100% 100% 99.96% 100% Mahindra UAB ClE LT CIE L
Slide 7: Q3 CY2022 Results
2 Q3 CY2022 RESULTS CIE Automotive
Slide 8: MCIE India Q3 CY2022 Results
MCIE INDIA Q3 CY2022 RESULTS FINANCIAL UPDATE MARKET UPDATE (₹ MIO) JUL-SEP 2022 CHANGE JUL-SEP 2021 APR-JUN 2022 JUL-SEP 2022 JUL-SEP 2022 v/s v/s SALES 14,294 34% 10,682 12,794 JUL-SEP 2021 APR-JUN 2022 <6T 33.1% 8.3% EBITDA* 2,148 33% 1,616 1,911 MHCV 17.7% 11.1% EBITDA% 15.0% 15.1% 14.9% Tractor
Slide 9: MCIE Europe Q3 CY2022 Results
MCIE EUROPE Q3 CY2022 RESULTS FINANCIAL UPDATE MARKET UPDATE (₹ MIO) JUL-SEP 2022 CHANGE JUL-SEP 2021 APR-JUN 2022 JUL-SEP 2022 JUL-SEP 2022 SALES 11,632 28% 9,119 12,816 v/s v/s JUL-SEP 2021 APR-JUN 2022 EBITDA* 1,159 1% 1,143 1,487 <6T 19.6% -9.8% MHCV* 6.0% -10.2% EBITDA% 10.0% 12.5% 11.6% EBIT*
Slide 10: MCIE Consolidated Q3 CY2022 Results
MCIE CONSOLIDATED Q3 CY2022 RESULTS FINANCIAL UPDATE (₹ MIO) JUL-SEP 2022 CHANGE JUL-SEP 2021 APR-JUN 2022 SALES 25,927 31% 19,801 25,609 EBITDA* 3,307 20% 2,759 3,398 EBITDA% 12.8% 13.9% 13.3% EBIT* 2,435 27% 1,924 2,505 EBIT% 9.4% 9.7% 9.8% EBT* 2,272 27% 1,790 2,475 EBT% 8.8% 9.0% 9.7% (*) EBITDA
Slide 11: 9M CY2022 Results
3 9M CY2022 RESULTS CIE Automotive
Slide 12: MCIE India 9M CY2022 Results
MCIE INDIA 9M CY2022 RESULTS FINANCIAL UPDATE MARKET UPDATE (₹ MIO) JAN-SEP 2022 CHANGE JAN-SEP 2021 JAN-SEP 2022 v/s SALES 39,109 31% 29.904 JAN-SEP 2021 <6T 23.7% EBITDA* 5,873 32% 4,450 MHCV 21.0% EBITDA% 15.0% 14.9% Tractors -8.6% Two Wheelers 3.8% EBIT* 4,384 41% 3,098 Source: <6T is from IHS G
Slide 13: MCIE Europe 9M CY2022 Results
MCIE EUROPE 9M CY2022 RESULTS FINANCIAL UPDATE MARKET UPDATE (₹ MIO) JAN-SEP 2022 CHANGE JAN-SEP 2021 JAN-SEP 2022 SALES 36,871 22% 30,164 v/s JAN-SEP 2021 EBITDA* 3,911 -4% 4,086 <6T -4.2% MHCV* -3.5% EBITDA% 10.6% 13.5% EBIT* 2,770 -2% 2,834 Source: IHS Global EBIT% 7.5% 9.4% * MHCV data is based
Slide 14: MCIE Consolidated 9M CY2022 Results
MCIE CONSOLIDATED 9M CY2022 RESULTS FINANCIAL UPDATE (₹ MIO) JAN-SEP 2022 CHANGE JAN-SEP 2021 SALES 75,980 26% 60,068 EBITDA* 9,785 15% 8,535 EBITDA% 12.9% 14.2% EBIT* 7,154 21% 5,932 EBIT% 9.4% 9.9% EBT* 6,877 24% 5,525 EBT% 9.1% 9.2% (*) EBITDA: Net Operating Income + Depreciation , EBIT: Net Oper
Slide 15: Other Details
OTHER DETAILS OTHER OPERATING REVENUE, OTHER INCOME AND EXCHANGE RATES For Q3 CY2022 For 9M CY2022 (₹ Mio) INDIA EUROPE CONSOLIDATED INDIA EUROPE CONSOLIDATED Other Operating Revenue 1,017 288 1,305 2,791 1,241 4,032 Other Income 93 45 138 261 516 777 EXCHANGE RATES PERIOD ₹/€ Average for Q3 CY22 80
Slide 16: Market Update
5 MARKET UPDATE CIE Automotive
Slide 17: India Market: Key Segments Update - Quarterly
INDIA MARKET: KEY SEGMENTS UPDATE - QUARTERLY MARKET PRODUCTION NUMBERS <6T Vehicles** MHCV Tractors Two Wheelers PERIOD Million Units Δ% Units Δ% Units Δ% Units Δ% 9M CY2022 3.84 23.7 259,791 21.0 780,305 -8.6 14,932,473 3.8 Q3 CY2022 1.34 33.1 78,873 17.7 304864 -1.6 5,650,212 7.7 Q2 CY2022 1.24 3
Slide 18: Market Outlook - India
MARKET OUTLOOK - INDIA • Passenger Vehicles ₋ Light Vehicles (less than 6 Tons – European Classification) Short Term: IHS forecasts production growth at a 20.8% between CY2021-CY 2022 Long term: IHS forecasts production growth at a CAGR of 1.8% over a period of 2022-2027 • MHCVs: Short Term: IHS* fo
Slide 19: Europe Market: Key Segments Update - Quarterly
EUROPE MARKET: KEY SEGMENTS UPDATE - QUARTERLY MARKET PRODUCTION NUMBERS <6T Vehicles MHCV PERIOD Million Units Δ% Units Δ% 9M CY2022 11.15 -4.2 368,575* -3.5 Q3 CY2022 3.48 19.6 111,961 6.0 Q2 CY2022 3.86 -4.9 124,666 -9.7 Q1 CY2022 3.82 -18.4 131,948 -4.5 Source: IHS Global Δ % - means comparison
Slide 20: Market Outlook - Europe
MARKET OUTLOOK - EUROPE • EU – Light Vehicles: ‒ IHS Global has forecasted that the Light Vehicle production will decrease in CY22 by -2.4% as compared to CY21 ‒ and will grow at CAGR of 2.9% between CY22 to CY27. • EU – MHCV’s: ‒ IHS Global has forecasted* that the Europe MHCV production will grow
Slide 21: SEBI Results
6 SEBI RESULTS CIE Automotive
Slide 22: Standalone - Statement of Profit & Loss
MCIE STANDALAONE - STATEMENT OF PROFIT & LOSS Rs. in Million Standalone Quarter Ended Nine M onths Ended Year Ended Particulars 30 September, 30 June, 2022 30 September, 30 September, 30 September, 31 December, 2022 2021 2022 2021 2021 Unaudited Unaudited Unaudited Unaudited Unaudited Audited I Reve
Slide 23: Standalone - Statement of Profit & Loss (Cont'd)
MCIE STANDALAONE - STATEMENT OF PROFIT & LOSS (CONT’D) Rs. in Million Standalone Quarter Ended Nine M onths Ended Year Ended Particulars 30 September, 30 June, 2022 30 September, 30 September, 30 September, 31 December, 2022 2021 2022 2021 2021 Unaudited Unaudited Unaudited Unaudited Unaudited Audit
Slide 24: Notes to Accounts - Standalone
NOTES TO ACCOUNTS - STANDALONE Notes: 1 The statement has been prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2015 (Ind AS) prescribed under Section 133 of the Companies Act, 2013 and other recognized accounting practices and policies to the extent applicable. 2 The a
Slide 25: Consolidated Statement of Profit & Loss
MCIE CONSOLIDATED STATEMENT OF PROFIT & LOSS Rs. in Million Consolidated Quarter Ended Nine Months Ended Year Ended Particulars 30 September, 30 June, 2022 30 September, 30 September, 30 September, 31 December, 2022 2021 2022 2021 2021 Unaudited Unaudited Unaudited Unaudited Unaudited Audited Restat
Slide 26: Consolidated Statement of Profit & Loss - Cont'd
MCIE CONSOLIDATED STATEMENT OF PROFIT & LOSS - CONT’D Rs. in Million Consolidated Quarter Ended Nine M onths Ended Year Ended Particulars 30 September, 30 June, 2022 30 September, 30 September, 30 September, 31 December, 2022 2021 2022 2021 2021 Unaudited Unaudited Unaudited Unaudited Unaudited Audi
Slide 27: Consolidated Statement of Profit & Loss - Cont'd
MCIE CONSOLIDATED STATEMENT OF PROFIT & LOSS - CONT’D Rs. in Million Consolidated Quarter Ended Nine M onths Ended Year Ended Particulars 30 September, 30 June, 2022 30 September, 30 September, 30 September, 31 December, 2022 2021 2022 2021 2021 Unaudited Unaudited Unaudited Unaudited Unaudited Audi
Slide 28: Consolidated - Segment Result
MCIE CONSOLIDATED – SEGMENT RESULT Rs. in Million CONSOLIDATED Quarter Ended Nine Months Ended Year Ended 30 September, 30 September, 30 September, 30 September, 31 December, 30 June, 2022 2022 2021 2022 2021 2021 Particulars Unaudited Unaudited Unaudited Unaudited Unaudited Audited 1 Segment Revenu
Slide 29: Consolidated - Segment Assets & Liabilities
MCIE CONSOLIDATED – SEGMENT ASSETS & LIABILITIES Rs. in Million CONSOLIDATED Quarter Ended Nine Months Ended Year Ended 30 September, 30 September, 30 September, 30 September, 31 December, 30 June, 2022 2022 2021 2022 2021 2021 Particulars Unaudited Unaudited Unaudited Unaudited Unaudited Audited 0.
Slide 30: Notes to Accounts - Consolidated
NOTES TO ACCOUNTS - CONSOLIDATED Notes: 1 The statement has been prepared in ac c ordanc e with the Companies (Indian Ac c ounting Standards) Rules, 2015 (Ind AS) presc ribed under Sec tion 133 of the Companies Ac t, 2013 and other rec ognized ac c ounting prac tic es and polic ies to the extent app
Slide 31: Notes Cont'd: Subsidiaries and Associate Companies
NOTES CONT’D … Annexure A - Subsidiaries forming part of the M ahindra CIE Automotive Limited (M CIE) Group and its Associate Companies S. No. Name of the entity Relationship % of Holding Country of Incorporation 30 September, 2022 1 Stokes Group Limited (SGL) Subsidiary of M CIE 100% UK 2 BF Precis
Slide 32: Thank You
Mahindra CIlE Thank You mahindracie.com
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