Samvardhana Motherson International Limited · NSE:MOTHERSON
Samvardhana Motherson International — Motherson Sumi Systems — Q2 FY2020-21 Earnings Presentation
34 slides from Samvardhana Motherson International's earnings presentation, Nov 10, 2020
Slide 1: Cover letter to stock exchanges on Q2 results
motherson di November 10, 2020 National Stock Exchange oflndia Limited BSE Limited Exchange Plaza,5th Floor 1st Floor,New Trading Ring Plot No.C/1, G-Block Rotunda Building Bandra-Kurla Complex P.J. Towers, Dalal Street Bandra (E) Fort MUMBAI - 400051,India MUMBAI - 400001,India Scrip Code : MOTHERS
Slide 2: Financial Performance Q2 FY 2020-21
Proud to be part of. Motherson Sumi Systems Ltd. (MSSL) Financial Performance Q2 FY 2020-21
Slide 3: Agenda
• Key Highlights • Order Book • Results Q2 FY20 vs Q2 FY21 • Debt & Liquidity status • Results H1 FY20 vs H1 FY21 • Status of reorganisation • Appendix : Financial Highlights- • DWH • Subsidiaries / JVs of SAMIL
Slide 4: Highlights (1/2)
Highlights (1/2). Strong industrial recovery and operational improvements globally helped us to post improved Q2 performance, says Motherson Sumi Systems Ltd Operational Highlights Reorganisation Highlights • Improvements in global operations in post COVID world. • All activities are as per original
Slide 5: Highlights (2/2)
Highlights (2/2). Strengthened balance sheet profile Financing Highlights Funds raised of over Rs. 3,000 crores at substantially lower cost versus the current borrowing costs • 6.65% NCD issuance which was upsized from Rs 1,500 crores to Rs. 2,130 crores using green-shoe option due to overwhelming d
Slide 6: Order Book
• Key Highlights • Order Book • Results Q2 FY20 vs Q2 FY21 • Debt & Liquidity status • Results H1 FY20 vs H1 FY21 • Status of reorganisation • Appendix : Financial Highlights- • DWH • Subsidiaries / JVs of SAMIL
Slide 7: Order book status at SMRP BV level
Order book status at SMRP BV level. Total Order book of Rs. 113,234 crores (Euro 13.1 billion) (€ 13.6 bn) (€ 13.1 bn) at SMRP BV level for 117,555 113,234 H1 FY20-21 New Orders worth (€ 1.7 bn) Rs. 14,694 crores (Euro 1.7 billion) 14,694 received H1 FY20-21 19,016 Orders worth (€ 2.2 bn) Rs. 19,016
Slide 8: Results Q2 FY20 vs Q2 FY21
• Key Highlights • Order Book • Results Q2 FY20 vs Q2 FY21 • Debt & Liquidity status • Results H1 FY20 vs H1 FY21 • Status of reorganisation • Appendix : Financial Highlights- • DWH • Subsidiaries / JVs of SAMIL
Slide 9: MSSL Consolidated: Q2FY20 vs Q2FY21
MSSL Consolidated : Q2FY20 vs Q2FY21. (Rs in Crores) Revenues. EBITDA. 15,828 15,557 10.0% 12. 0% 8.8% 10. 0% 8. 0% 1,553 6. 0% 1,390 4. 0% % of Revenue 2. 0% 0. 0% Q2 FY 2019-20 Q2 FY 2020-21 Q2 FY 2019-20 Q2 FY 2020-21 PBT. 13% PAT (Concern Share). (before exceptional items) 701 621 -12% 385 372 3
Slide 10: MSSL Standalone: Q2FY20 vs Q2FY21
MSSL Standalone : Q2FY20 vs Q2FY21. 20. 0% (Rs in Crores) Revenues. EBITDA. 19. 0% 1,714 1,642 4% 18. 0% 16.3% 17. 0% 15.8% 16. 0% 15. 0% 259 279 % of Revenue 14. 0% 13. 0% Q2 FY 2019-20 Q2 FY 2020-21 Q2 FY 2019-20 Q2 FY 2020-21 PBT. PAT. (before exceptional items) 14% 218 214- -13% 167 Exceptional
Slide 11: SMRPBV (In Euro Terms): Q2FY20 vs Q2FY21
SMRPBV (In Euro Terms) : Q2FY20 vs Q2FY21. (In Million Euros) Revenues. EBITDA. € 1,407 € 1,265 8.6% 10. 0% 9. 0% 6.0% 8. 0% 7. 0% € 109 6. 0% 5. 0% 4. 0% € 85 3. 0% % of Revenue 2. 0% 1. 0% 0. 0% Q2 FY 2019-20 Q2 FY 2020-21 Q2 FY 2019-20 Q2 FY 2020-21 PBT. PAT (Concern Share). (before exceptional i
Slide 12: SMR & SMP (In Euro Terms): Q2FY20 vs Q2FY21
SMR & SMP (In Euro Terms) : Q2FY20 vs Q2FY21. (In Million Euros) SMR Revenues. SMR EBITDA. 13.4% €390 14. 0% €350 11.5% 13. 0% 12. 0% 11. 0% 10. 0% € 47 9. 0% € 45 8. 0% 7. 0% 6. 0% 5. 0% 4. 0% % of Revenue 3. 0% 2. 0% 1. 0% 0. 0% Q2 FY 2019-20 Q2 FY 2020-21 Q2 FY 2019-20 Q2 FY 2020-21 SMP Revenues.
Slide 13: Focused Measures at Greenfield Plants to improve performance in FY21
Focused Measures at Greenfield Plants taken to improve performance in FY21 Financial Performance of Greenfield Plants* Key Improvements – Tuscaloosa (USA) (€ Mn) Operations • Post stabilisation of plant, teams focussed on bringing in cost and price actualisation of all engineering changes done durin
Slide 14: PKC (In Euro Terms): Q2FY20 vs Q2FY21
PKC (In Euro Terms) : Q2FY20 vs Q2FY21. (In Million Euros) Revenues. EBITDA. € 310 € 263 11.9% 8.7% € 37 % of Revenue € 23 Q2 FY 2019-20 Q2 FY 2020-21 Q2 FY 2019-20 Q2 FY 2020-21 PBT. PAT (Concern Share). € 26 € 19 € 11 €8 Q2 FY 2019-20 Q2 FY 2020-21 Q2 FY 2019-20 Q2 FY 2020-21 13 13
Slide 15: Debt & Liquidity status
• Key Highlights • Order Book • Results Q2 FY20 vs Q2 FY21 • Debt & Liquidity status • Results H1 FY20 vs H1 FY21 • Status of reorganisation • Appendix : Financial Highlights- • DWH • Subsidiaries / JVs of SAMIL
Slide 16: Net Debt
A. Net Debt. 30.09.2019 30.06.2020 30.09.2020 Rs. In Crores Standalone Consolidated Standalone Consolidated Standalone Consolidated Gross Debt 1,529 11,784 1,692 13,218 4,763 13,118 Cash & Bank 143 2,992 232 4,135 1,235 5,607 Net Debt 1,386 8,792 1,460 9,083 3,528 7,512 Standalone Consolidated 8,792
Slide 17: Liquidity: Strong Position
Liquidity : Strong Position. Total Liquidity : Rs. 10,037 crores Total Liquidity : Rs. 11,629 crores As on 30th June 2020 As on 30th Sep 2020 6,022 5,607 5,902 345 567 1,326 4,135 (Rs. In crores) 4,970 (Rs. In crores) 1,282 4,565 3,046 2,621 1,235 770 707 - 232 - Undrawn limits Cash and bank balance
Slide 18: Results H1 FY20 vs H1 FY21
• Key Highlights • Order Book • Results Q2 FY20 vs Q2 FY21 • Debt & Liquidity status • Results H1 FY20 vs H1 FY21 • Status of reorganisation • Appendix : Financial Highlights- Subsidiaries / JVs of SAMIL
Slide 19: MSSL Consolidated: H1FY20 vs H1FY21
MSSL Consolidated : H1FY20 vs H1FY21. (Rs in Crores) Revenues. EBITDA. 12. 0% 32,519 10. 0% 8.3% 23,988 8. 0% 32,519 2,693 6. 0% 23,988 4.0% % of Revenue 4. 0% 968 2. 0% H1 FY 2019-20 H1 FY 2020-21 H1 FY 2019-20 H1 FY 2020-21 PBT. PAT (Concern Share). (before exceptional items) 1,138 -162% 716 -166%
Slide 20: MSSL Standalone: H1FY20 vs H1FY21
MSSL Standalone : H1FY20 vs H1FY21. 30. 0% (Rs in Crores) Revenues. EBITDA. 3,469 25. 0% 20. 0% 2,145 17.0% 15. 0% % of Revenue 588 8.2% 10. 0% 176 5. 0% H1 FY 2019-20 H1 FY 2020-21 H1 FY 2019-20 H1 FY 2020-21 PBT. PAT (before exceptional items) 467 -93% -92% 346 35 Exceptional costs 346 41 15 PAT 2
Slide 21: SMRPBV (In Euro Terms): H1FY20 vs H1FY21
SMRPBV (In Euro Terms) : H1FY20 vs H1FY21. (In Million Euros) Revenues. EBITDA. € 2,889 5.4% € 1,996 6. 0% 5. 0% 2.8% 4. 0% € 156 3. 0% % of Revenue 2. 0% € 56 1. 0% H1 FY 2019-20 H1 FY 2020-21 0. 0% H1 FY 2019-20 H1 FY 2020-21 PBT. PAT (Concern Share). (before exceptional items) € 21 Exceptional co
Slide 22: SMR & SMP (In Euro Terms): H1FY20 vs H1FY21
SMR & SMP (In Euro Terms) : H1FY20 vs H1FY21. (In Million Euros) SMR Revenues. SMR EBITDA. €793 €530 11.2% 12. 0% 7.9% 10. 0% 8. 0% 6. 0% % of Revenue € 89 4. 0% € 42 2. 0% 0. 0% H1 FY 2019-20 H1 FY 2020-21 H1 FY 2019-20 H1 FY 2020-21 SMP Revenues. SMP EBITDA. € 2,095 3.4% 4.0% 3.5% € 1,466 3.0% 2.5
Slide 23: PKC (In Euro Terms): H1FY20 vs H1FY21
PKC (In Euro Terms) : H1FY20 vs H1FY21. (In Million Euros) Revenues**. EBITDA. € 638 11.1% € 438 € 71 3.4% % of Revenue € 15 H1 FY 2019-20 H1 FY 2020-21 H1 FY 2019-20 H1 FY 2020-21 PBT. PAT (Concern Share). € 47 € 36 -117% (€ 8) -125% (€ 9) H1 FY 2019-20 H1 FY 2020-21 H1 FY 2019-20 H1 FY 2020-21 22
Slide 24: Reference Rates, Notes & Safe Harbor
Reference Rates, Notes & Safe Harbor. Copper Rates. Notes. Average Q2 2019-20 Q2 2020-21 % Change 1. This presentation has been prepared from the unaudited financial results for the quarter LME Copper (USD / MT ) 5,998 6,521 17.0% ended on 30th September 2020. Explanatory notes have been added with
Slide 25: Status of reorganisation
• Key Highlights • Order Book • Results Q2 FY20 vs Q2 FY21 • Debt & Liquidity status • Results H1 FY20 vs H1 FY21 • Status of reorganisation • Appendix : Financial Highlights- • DWH • Subsidiaries / JVs of SAMIL
Slide 26: Scheme Execution Progressing
Scheme Execution Progressing M o n t h s Jul Jan Aug Sep Oct Nov Dec Feb Mar Apr May Jun Jul 2020 2021 Board Approval Filing of scheme with BSE, NSE, SEBI * Scheme uploaded on web-sites of BSE & NSE * * Receipt of BSE, NSE, SEBI approval Filing with NCLT post SEBI approval Shareholders / creditors m
Slide 27: Thank you
motherson Thank you. Proud to be part of samvardhana motherson ll
Slide 28: Appendix: Financial Highlights - DWH
• Key Highlights • Order Book • Results Q2 FY20 vs Q2 FY21 • Debt & Liquidity status • Results H1 FY20 vs H1 FY21 • Status of reorganisation • Appendix : Financial Highlights- • DWH • Subsidiaries / JVs of SAMIL
Slide 29: DWH: Income statement
DWH: Income statement (Rs in Crores) Q2 FY 2020-21 Remark Management DWHU DWH adjusted adjustment Year (a) (b) (c=a+b) Managemet Reported adjustment Revenue from contract with customers 1,075 1,075 Other operating revenue 4 4 Other income 4 4 Total Income 1,083 - 1,083 Expense of DWHU includes raw m
Slide 30: Ex-DWH: Income statement
Ex - DWH: Income statement (Rs in Crores) Q2 FY 2020-21 MSSL SA Remark MSSL SA Management Ex DWH Ex DWHU adjustment adjusted Year (a) (b) (c=a-b) Managemet Reported adjustment Revenue from contract with customers 986 986 Other operating revenue 10 8 18 Management fee INR 8 crore Other income 30 13 4
Slide 31: Subsidiaries / JVs of SAMIL
• Key Highlights • Order Book • Results Q2 FY20 vs Q2 FY21 • Debt & Liquidity status • Results H1 FY20 vs H1 FY21 • Status of reorganisation • Appendix : Financial Highlights- • DWH • Subsidiaries / JVs of SAMIL
Slide 32: SAMIL Key Highlights
SAMIL Key Highlights. Operational Highlights • Strong improvement in revenue and profitability as compared to Q1 on back of pickup in OEM production numbers • Further improvements expected as CV and buses productions likely to pick up in H2 • Gross and Net Debt for the period ended 31st March 2020 a
Slide 33: Proforma Financials
Proforma Financials * 3 SAMIL Business (ex MSSL ex.SMRP BV) (INR Crores) Revenue EBITDA Net Debt 2735 2800 1382 1297 1278 Aggregate 1192 380 372 Basis 675 289 -12 89 FY 19 FY 20 Q1FY21 Q2 FY 21 FY 19 FY 20 Q1FY21 Q2FY21 FY 19 FY 20 Q1FY21 Q2FY21 2056 1347 2044 Proportionate 1233 1219 Basis ** 279 25
Slide 34: Thank you / Safe harbor
Thank you. Safe harbor The contents of this presentation are for informational purposes only and for the reader’s personal non-commercial use. The contents are intended, but not guaranteed, to be correct, complete, or absolutely accurate. This presentation may contain forward-looking statements base
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