Ppap Automotive Limited · NSE:PPAP
Ppap Automotive — Q2 FY2017 Earnings Presentation
44 slides from Ppap Automotive's earnings presentation
Slide 1: PPAP Automotive Limited
PPAP Automotive Limited (Formerly Precision Pipes & Profiles Company Limited) Taking Challenges, Together
Slide 2: Index
INDEX Quarterly Highlights Company Overview Core Strengths & Growth Strategy Our Products Facilities Overview Customer Profile Awards Financial Overview 2
Slide 3: Quarterly Highlights
QUARTERLY HIGHLIGHTS All figures in ₹ Crore 80.67 81.97 15.15 5.27 14.66 4.55 Q2FY16 Q2FY17 Q2FY16 Q2FY17 Q2FY16 Q2FY17 Total Income EBITDA PAT Q2FY17 Income includes Tool sales of ₹ 1.23 crore vs. ₹ 0.73 crore of Q2FY16 EBITDA Margin is at 18.48% Interim dividend of 12.5% (Rs. 1.25 per share)
Slide 4: Index
INDEX Quarterly Highlights Company Overview Core Strengths & Growth Strategy Our Products Facilities Overview Customer Profile Awards Financial Overview 4
Slide 5: Brief Profile
BRIEF PROFILE PPAP Automotive Limited (PPAP) is a leading manufacturer of Automotive Sealing Systems, Interior and Exterior Injection parts in India State of the art manufacturing facilities located at Noida (UP), Greater Noida (UP), Chennai (Tamil Nadu) and Pathredi (Rajasthan). All the plants are
Slide 6: General Information
GENERAL INFORMATION SHARE HOLDING 1.61 1.14 2.76 22.12 8.91 63.46 Promoters Bodies Corporate Individuals Foreign Companies Foreign Portfolio Investor (Corporate) Others 6
Slide 7: Management Profile
MANAGEMENT PROFILE Ajay Kumar Jain - Chairman & Managing Director • Commerce graduate from the Shri Ram College of Commerce, University of Delhi • Has been associated with the company since inception • Experience of over 40 years in the Polymer processing industry • Experience of over 30 years in th
Slide 8: Mission, Vision & Values
MISSION, VISION & VALUES (CeAD) MISSION TO BE A DOMINANT SUPPLIER OF BODY | SEALING, INTERIOR & EXTERIOR PARTS VISION | TO BE OUR CUSTOMERS' NO. 1 SUPPLIER | VALUES * TRUSTWORTHINESS * MUTUAL RESPECT * CREATIVITY * COOPERATION * EXCELLENCE
Slide 9: Journey
JOURNEY 1978 1985 1989 1996 2002 •Company •Start of the •Technological tie up •Established Plant - I •Certification of TS Incorporated Automotive Business with Tokoi Kogyo (Noida) 16949 and ISO •Added Maruti Suzuki Co., Japan •Added Honda Cars as 140001 as customer customer 2007 2006 2005 2004 2003
Slide 10: Technology Partners
TECHNOLOGY PARTNERS NISSEN CHEMITEC CORPORATION, JAPAN Established: 1951 TOKAI KOGYO CO. LTD, JAPAN Global Presence: USA, Thailand, Indonesia, Established: 1947 Singapore Global Presence: USA, Thailand, Indonesia, China, Mexico, Vietnam AUTOMOTIVE SEALING SYSTEM INJECTION MOLDED PRODUCTS RELATIONSHI
Slide 11: Index
INDEX Quarterly Highlights Company Overview Core Strengths & Strategy Our Products Facilities Overview Customer Profile Awards Financial Overview 11
Slide 12: Core Strengths
CORE STRENGTHS Leadership Position Strong Customer Base India’s leading manufacturer Leading OEM manufacturers in of Automotive Sealing Systems Indian Market are customers Access to Global Technology State-of-the-art manufacturing facilities Relationship with Japanese Focus on Kaizen towards Technol
Slide 13: Growth Strategy
GROWTH STRATEGY 1 2 Improve Operational Efficiency Optmization of Asset Utilization • International Benchmarking • Impossible for • Our Mantra - "Every Paisa Counts" • Improve margin realization • Improve OEE (Overall Equipment Efficiency) Competition to driven by cost optimization & operating lever
Slide 14: Index
INDEX Quarterly Highlights Company Overview Core Strengths & Growth Strategy Our Products Facilities Overview Customer Profile Awards Financial Overview 14
Slide 15: Product - Milestones
PRODUCT - MILESTONES 1989 – Start of technology partnership with Tokai Kogyo 2007 – Start of technology • Injection Molded Parts – partnership with Nissen Chemitech Interior, Exterior – Door Lining Assembly 2012 – Start of JV Company - PTI 2014 • Injection Molded Parts – Interior, Exterior & Under 2
Slide 16: Sealing Systems
SEALING SYSTEMS ROOF MOULDING TRIM DOOR OPENING BACK DOOR / TRUNK SEAL MOULDING WINDSHEILD PVC TPO EPDM DOOR OPENING SEAL AIR SPOILER GLASS RUN CHANNEL OUTER BELT INNER BELT SLIDE RAIL PRODUCTS MADE BY PTI (JV) 16 BLACK/BRIGHT
Slide 17: Injection Molding Products
INJECTION MOLDING PRODUCTS FR-PILLAR CTR-PILLAR RR -PILLAR REAR TRAY PARTITION UNDER HOOD PRODUCTS IN CABIN PRODUCTS LINING RR PANEL SIDE PROTECTORS 17 SPLASH GUARD DOOR LINING FENDER INNER TRUNK LINING
Slide 18: Index
INDEX Quarterly Highlights Company Overview Core Strengths & Growth Strategy Our Products Facilities Overview Customer Profile Awards Financial Overview 18
Slide 19: Manufacturing Facilities
MANUFACTURING FACILITIES CERTIFICATIONS HUMAN RESOURCE TS 16949 ISO 14001 TEAM STRENGTH : 1716 I OHSAS 18001 Pplanm E E 23% DIRECT INDIRECT 77% PLANT IV PLANT I PLANT II PATHREDI, 2014 NOIDA,1996 NOIDA,2003 INDIRECT 23% E PLASTIC EXTRUSION R I NO OF TEAM MEMBERS I INJECTION DESIGN & DEVELOPMENT 45 R
Slide 20: Design and Development
DESIGN AND DEVELOPMENT Product Design Tool Design Checking Fixture Design Design Validation Special Purpose Machines Design & Manufacturing 20
Slide 21: Extrusion Infrastructure
EXTRUSION INFRASTRUCTURE PVC / TPO MATERIAL EPDM & TPV MATERIAL 13 Extrusion Lines 1 Kneader Mixing Plant (2nd Mixing) Flocking Lines 1 EPDM Line Assembly Lines 1 TPV Line JV COMPANY – PPAP TOKAI INDIA RUBBER PRIVATE LIMITED 21
Slide 22: Injection Molding Infrastructure
INJECTION MOLDING INFRASTRUCTURE 32 machines including 8 Gas-assisted Range: 60 tons – 2,500 tons Make: Toshiba, Nissei, JSW, Fanuc, Toyo, Mitsubishi 22
Slide 23: Tool & Machine Manufacturing
TOOL & MACHINE MANUFACTURING IN HOUSE TOOL ROOM CNC Machines • Wire Cut (Sodick) • EDM • CNC Lathe • CNC Milling Outsourcing of Toolings from:– • Local • China • Taiwan 23
Slide 24: Testing and Validation
TESTING AND VALIDATION Raw Material Testing Part Performance Testing Test Machines • Universal Testing Machine • Impact Strength Testing Machine (Izod/ Charpy) • Hardness Tester • Specific Gravity • MFI Testing Machine • Muffle Furnace for Ash Content • Viscosity Meter • Heat / Cold Conditioning Cha
Slide 25: Index
INDEX Quarterly Highlights Company Overview Core Strengths & Growth Strategy Our Products Facilities Overview Customer Profile Awards Financial Overview 25
Slide 26: Models
MODELS & 2) MS AB 9. 2 at ¥- satietiet 0 1 26
Slide 27: Customers
CUSTOMERS INDIA EUROPE BUSINESS SHARE > 20 YRS > 15 YRS > 01 YRS TATA OTHERS 1% 1% GM TKML 1% 4% NISSAN MEXICO 9% > 10 YRS MSIL 45% THAILAND > 01 YRS HCIL > 04 YRS 39% JAPAN > 03 YRS > 01 YRS > 04 YRS > 03 YRS > 02 YRS MSIL HCIL TKML GM TATA NISSAN OTHERS > 9 YRS > 02 YRS 27 > 02 YRS > 03 YRS
Slide 28: Index
INDEX Quarterly Highlights Company Overview Core Strengths & Growth Strategy Our Products Facilities Overview Customer Profile Awards Financial Overview 28
Slide 29: Awards
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Slide 30: Customer Appreciation
CUSTOMER APPRECIATION TOYOTA MOTOR CORPORATION HONDA CARS INDIA LIMITED 30 TOYOTA KIRLOSKAR MOTOR INDIA PVT LIMITED MARUTI SUZUKI INDIA LIMITED
Slide 31: Index
INDEX Quarterly Highlights Company Overview Core Strengths & Growth Strategy Our Products Facilities Overview Customer Profile Awards Financial Overview 31
Slide 32: Quarterly Financial Performance
QUARTERLY FINANCIAL PERFORMANCE 85.00 20.00% 18.18% 18.48% 18.00% 80.00 16.00% 15.58% 75.00 14.00% 12.00% 70.00 11.28% 11.56% In ₹ Crore 10.00% 65.00 8.63% 8.00% 5.64% 6.43% 60.00 6.00% 4.40% 4.00% 55.00 2.00% 80.67 80.99 81.97 50.00 0.00% Q2FY16 Q1FY17 Q2FY17 TOTAL INCOME EBITDA MARGIN EBIT MARGIN
Slide 33: Expenses as % of Total Income (Quarterly)
EXPENSES AS % OF TOTAL INCOME (Quarterly) 85.00 53.41% 54.07% 55.00% 51.19% 80.00 81.97 50.00% 80.67 80.99 45.00% 75.00 40.00% 35.00% 70.00 In ₹ Crore 30.00% 65.00 25.00% 20.00% 15.53% 15.87% 60.00 14.47% 15.00% 13.95% 14.81% 14.46% 7.16% 7.41% 7.32% 10.00% 55.00 5.00% 2.66% 2.03% 1.74% 50.00 0.00%
Slide 34: EPS & BVPS (Quarterly)
EPS & BVPS (Quarterly) 14.00 12.00 10.00 8.00 6.00 In. Per Share 4.00 ™ | || Q2FY16 QIFY17 Q2FY17 m= EPS mEPS(TTM) In. Per Share Q2FY16 QUFY17 Q2FY17 ™ Book Value Per Share
Slide 35: Half-Yearly Highlights
HALF – YEARLY HIGHLIGHTS All figures in ₹ Crore 8.84 7.52 FY16' 6M FY17' 6M Total Income EBITDA PAT FY17’ 6M Income included Tool sales of ₹. 13.40 crore vs. ₹ 0.73 crores of FY16’ 6M. EBITDA Margin is at 17.04% Interim dividend of 12.5% (Rs. 1.25 per share) Started supplies for Kwid for Exp
Slide 36: Half Yearly Financial Performance
HALF YEARLY FINANCIAL PERFORMANCE Note - Includes ₹ 13.40 Cr. of Tool Sales in FY17’ 6M, ₹ 0.76 in FY16’ 6M 36
Slide 37: EPS & BVPS (Half-Yearly)
EPS & BVPS (HALF - YEARLY) 11.34 12.00 10.44 10.00 8.00 6.31 6.00 5.37 4.00 2.00 In. Per Share FY16'6M. FY17'6M m= EPS mEPS(TTM) In 8 Per Share FY16'6M FY17'6M ® Book Value Per Share
Slide 38: Financial Performance Snapshot (Last 3 Years)
FINANCIAL PERFORMANCE SNAPSHOT (over last 3 years) 350 20.00% 17.20% 18.00% 300 16.00% 250 14.00% 12.67% 11.26% 12.00% 200 In ₹ Crore 10.11% 10.00% 150 7.21% 6.69% 8.00% 5.04% 6.00% 100 3.78% 4.00% 2.21% 50 2.00% 246.76 318.5 302.75 0 0.00% FY14 FY15 FY16 Total Income EBITDA Margin EBIT Margin PAT M
Slide 39: Expenses as % of Total Income (Last 3 Years)
EXPENSES AS % OF TOTAL INCOME (over last 3 years) 350 70.00% 58.11% 300 60.00% 59.13% 52.95% 250 50.00% 200 40.00% In ₹ Crore 318.5 150 302.75 30.00% 246.76 100 16.27% 15.20% 15.54% 20.00% 14.36% 14.32% 50 12.32% 13.00% 6.76% 10.00% 7.52% 8.00% 2.24% 2.59% 0 0.00% FY14 FY15 FY16 Total Income Materia
Slide 40: Return Ratios and D/E Ratio
RETURN RATIOS AND D/E RATIO 12.00% 10.75% 10.00% 8.16% 8.00% 7.13% 7.26% 6.06% 6.00% 4.00% 2.89% 2.00% 0.00% FY14 FY15 FY16 ROCE ROI 0.45 0.42 0.4 0.35 0.35 0.3 0.25 0.23 0.2 0.15 0.1 0.05 0 FY14 FY15 FY16 Debt/Equity Ratio 40
Slide 41: EPS & BVPS (Last 3 Years)
EPS & BVPS (Over last 3 years) 12.00 10.91 10.00 8.59 In ₹ Per Share 8.00 6.00 3.90 4.00 2.00 0.00 FY14 FY15 FY16 EPS 155.00 150.30 150.00 In ₹ Per Share 145.00 141.80 140.00 134.93 135.00 130.00 125.00 FY14 FY15 FY16 Book Value Per Share 41
Slide 42: Summary of Consolidated FY16 Results
SUMMARY OF CONSOLIDATED FY16 RESULTS PARTICULARS IN ₹ CRORE TOTAL INCOME 319.72 INCOME FROM OPERATIONS 318.63 EBITDA 52.97 PAT 14.03 NET WORTH 205.53 42
Slide 43: Disclaimer
DISCLAIMER Certain statements in this communication may be ‘forward looking statements’ within the meaning of applicable laws and regulations. These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those s
Slide 44: Contact
Mr. Manish Dhariwal (Chief Financial Officer) PPAP Automotive Limited Ph: +91-120-2462552 / 53 Email: manish.dhariwal@ppapco.com Mr. Anand Lalla / Mr. Parin Narichania Concept Investor Relations Mo: +91 7506051178 / 9930025733 Email: anand@conceptir.com / parin@conceptir.com Website : www.ppapco.in