Gabriel India Limited · NSE:GABRIEL
Gabriel India — Q3 FY24 Earnings Presentation
56 slides from Gabriel India's earnings presentation, Feb 8, 2024
Slide 1: Regulation 30(2) disclosure cover letter to stock exchanges
Date: February 08, 2024 BSE Limited National Stock Exchange of India Limited 25th Floor, P. J. Towers, Exchange Plaza, Bandra Kurla Complex, Dalal Street, Bandra (E), MUMBAI – 400 001 MUMBAI – 400 051 (Company Code: 505714) (Company Code: GABRIEL) Sub: Disclosure under Regulation 30(2) of SEBI (List
Slide 2: Gabriel India Ltd. Investor Presentation February 2024
Gabriel India Ltd. Investor Presentation February 2024 Gabriel India Ltd. | www.anandgroupindia.com/gabrielindia/ 1
Slide 3: Safe Harbor
SAFE HARBOR 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 th
Slide 4: Table of Contents
TABLE OF CONTENTS 1 Q3 & 9M FY24 Result Update 2 Corporate Overview 3 Business Overview 4 Strategy Going Forward Gabriel India Ltd. | www.anandgroupindia.com/gabrielindia/ 3
Slide 5: Q3 & 9M FY24 Result Update
Q3 & 9M FY24 Result Update Gabriel India Ltd. | www.anandgroupindia.com/gabrielindia/ 4
Slide 6: Financial Highlights – Q3 FY24
FINANCIAL HIGHLIGHTS – Q3 FY24 Q3 FY24 Revenue EBITDA PBT Rs 720 Mn Rs. 593 Mn Rs. 8,138 Mn 8.8% 7.3% Q2 FY 24 Rs 8,644 Mn Q2 FY 24 Rs 753 Mn/8.7% Q2 FY 24 Rs 630 Mn/7.3% Q1 FY 24 Rs .8058 Mn Q1 FY 24 Rs 690 Mn /8.6% Q1 FY 24 Rs 577 Mn/ 7.2% Q4 FY 23 Rs 7,370 Mn Q4 FY 23 Rs 524 Mn/ 7.1% Q4 FY 23 Rs
Slide 7: Financial Highlights – Q3 FY24
FINANCIAL HIGHLIGHTS – Q3 FY24 Revenue EBITDA PBT Rs. 8,138 Mn Rs. 720 Mn (8.8%) Rs. 593 Mn (7.3%) Q3 FY’23: 7,110 Mn (+14.6%) Q3 FY’23: 514 Mn (+40.08%) Q3 FY’23: 392 Mn (+51.2%) Q2 FY’24: 753 Mn (-4.38%) Q2 FY’24: 630 Mn (-5.8%) Q2 FY’24: 8,644 Mn (-5.8%) Balance Sheet Cash Flow Capex Net Cash pos
Slide 8: Financial Highlights – 9M FY24
FINANCIAL HIGHLIGHTS – 9M FY24 Revenue EBITDA PBT Rs. 24,840 Mn Rs. 2,162 Mn (8.7%) Rs. 1,800 Mn (7.2%) As compared to Rs. 22,348Mn As compared to Rs. 1,613 Mn As compared to Rs. 1329 Mn in 9M FY23 (Y-o-Y 11.1%) in 9M FY23 (Y-o-Y 34.0%) in 9M FY23 (Y-o-Y 35.4%) Balance Sheet Cash Flow Capex Net Cash
Slide 9: Financial Track Record
FINANCIAL TRACK RECORD P&L (Rs. Mn) Q3 FY24 Q3 FY23 YoY Q2 FY24 QoQ FY23 FY22 YoY Revenue from Operations 8,138 7,110 14.5% 8,644 -5.9% 29,717 23,320 27.4% Gross Margin (%) 25.5% 24.4% 1.1% 24.7% 0.8% 23.7% 23.4% 0.3% EBITDA Margin (%) 8.8% 7.2% 1.6% 8.7% 0.1% 7.2% 6.3% 0.9% Net Margin (%) 5.3% 4.1%
Slide 10: Quarterly Performance Trend
QUARTERLY PERFORMANCE TREND Revenue (Mn) Margins 8.6% 8.7% 8.8% 8.0% 7.7% 7.7% 8.1% Revenue 29,717 7.3% 6.9% 7.1% 7.4% 7.2% 7.1% 6.6% 7.1% 7.0% 5.1% 5.5% 6.3% 6.7% 7,370 5.3% 5.4% 5.3% 4.3% 3.9% 3.9% 4.6% 5.0% 2.7% 4.2% 4.2% 3.9% 4.6% 4.6% 4.1% 4.5% 23,320 Q1FY20 Q2FY20 Q3FY20 Q4FY20 Q2FY21 Q3FY21 Q
Slide 11: Profit & Loss Statement
PROFIT & LOSS STATEMENT Particulars (Rs. Mn) Q3 FY24 Q3 FY23 YoY Q2 FY24 Q-o-Q FY23 FY22 Y-o-Y Revenue from Operations 8,138 7,110 14.5% 8,644 -5.9% 29,717 23,320 27.4% Raw Material 6,066 5,377 6,507 22,688 17,863 Employee Expenses 522 473 542 1,831 1,597 Other Expenses 830 745 843 3,061 2,401 EBITD
Slide 12: Financial Track Record
FINANCIAL TRACK RECORD Revenue (Rs Mn) EBITDA (Rs Mn) & EBITDA Margin (%) PAT 2,500 9.0% 9.6% 9.3% 8.6% 10.0% 8.1% 2,137 2,163 1,324 1324 29,717 7.4% 8.7% 8.7% 942 950 2,000 1,713 1,778 8.0% 827 847 603 895 6.0% 6.3% 600 752 1,461 1,376 1,459 24,840 1,500 1,293 6.0% 23,320 1,168 20,765 +10.4% +9.4%
Slide 13: Key Ratios
KEY RATIOS Return on Equity (%) Return on Assets (%) Fixed Asset Turnover (x) 10.4 9.8 9.3 18.0 16.1 15.2 8.8 8.8 13.8 5.9 5.8 6.6 13.0 5.1 5.4 11.7 6.6 5.7 5.1 4.4 8.7 FY18 FY19 FY20 FY21 FY22 FY23 9M FY18 FY19 FY20 FY21 FY22 FY23 9M FY18 FY19 FY20 FY21 FY22 FY23 9M FY24 FY24 FY24 Current Ratio (x)
Slide 14: Revenue Mix (Inc. Trading)
REVENUE MIX (INC. TRADING) Segment Mix Channel Mix Aftermarket 2% 4% 4% 4% 3% 2% 2% 2% 2% 1% 2% 12% 12% 10% 11% 12% 16% 12% 12% 13% 11% 12% 8% 11% 12% 13% 13% 13% 15% 9% 8% 9% 10% 7% 22% 23% 22% 24% 24% 36% 37% 38% 37% 35% 37% 83% 84% 84% 87% 86% 81% 65% 63% 65% 61% 61% 42% 43% 43% 44% 43% 41% FY20
Slide 15: Balance Sheet
BALANCE SHEET Assets (Rs. Mn.) Dec-23 Sep-23 Mar-23 Mar-22 Equity and Liabilities (Rs. Mn.) Dec-23 Sep-23 Mar-23 Mar-22 Non-current assets 5,386 5,180 4,857 4,458 Equity 9,560 9,347 8,703 7,668 Current assets 9,635 10,122 9,423 9,073 Non-Current Liabilities 514 346 384 403 Current liabilities 4,947
Slide 16: Cash Flows
CASH FLOWS Cash Flow from Operations (Rs. Mn) Cash Flow used in Investing (Rs. Mn) Cash Flow used in Financing (Rs. Mn) 2,039 1,701 464 1,201 1,364 983 962 1,038 261 278 337 928 980 704 241 950 217 428 FY 19 FY 20 FY 21 FY 22 FY23 9M FY24 FY 19 FY 20 FY 21 FY 22 FY23 9M FY24 FY 19 FY 20 FY 21 FY 22
Slide 17: Core 90 (Cost Reduction in 90 Days)
CORE 90 (COST REDUCTION IN 90 DAYS) CORE 90 COST REDUCTION DRIVE Gabriel India Ltd. | www.anandgroupindia.com/gabrielindia/ 16
Slide 18: Vision 2025
VISION 2025 Exports Domestic Dominance Mergers & Acquisitions Technology Gabriel India Ltd. | www.anandgroupindia.com/gabrielindia/ 17
Slide 19: Our Strategic Business Drivers: Exports
OUR STRATEGIC BUSINESS DRIVERS Exports Gabriel India Ltd. | www.anandgroupindia.com/gabrielindia/ 18
Slide 20: Creating Global Presence Through Exports
CREATING GLOBAL PRESENCE THROUGH EXPORTS Export Sales - Quarter ➢ Leveraging ➢ Resource in Europe for ➢ Export order from DAF 303 290 286 316 relationship with 276 exploring Netherlands, VW 251 237 232 219 208 228 218 Global OEMs in India opportunities in 204 Russia commenced to penetrate their Over
Slide 21: Our Strategic Business Drivers: Domestic Dominance
OUR STRATEGIC BUSINESS DRIVERS Domestic Dominance Gabriel India Ltd. | www.anandgroupindia.com/gabrielindia/ 20
Slide 22: YTD Segment Performance – 2W & 3W (incl. AM)
YTD SEGMENT PERFORMANCE – 2W&3W (INCL. AM) Performance • The main drivers of growth included initiatives to enhance market share with key customers like TVS , Bajaj and EV OEM, increased focus on developing new products in EV and premium category, and the notable acceptance of end products in the ma
Slide 23: Gabriel India: Well-Entrenched Amongst All 2W/3W EV Players
GABRIEL INDIA LTD: WELL– ENTRENCHED AMONGST ALL 2W/3W EV PLAYERS Top Selling Models GIL Presence 1. Ola S1 Pro 2. TVS iQube 3. Bajaj Chetak 4. Ather 450x 5. Ampere Magnus EX 6. Hero Vida V1 Pro 7. Joy e-bike Glob Source: zecat.in/ev-sales-report-december-2023 21.37% 73% 7% 40% 60% Highest EV Sales i
Slide 24: YTD Segment Performance – Passenger Vehicles (incl. AM)
YTD SEGMENT PERFORMANCE – PASSENGER VEHICLES(INCL. AM) Performance • Growth in UV/Van segment at 34 % against market growth of 26% • Degrowth in Passenger car segment at 5% against market degrowth of -17% 25% % to Total Sales 24% Market Share New Program • Maruti Suzuki: Jimny • Stellantis : Electri
Slide 25: Gabriel Presence: Utility Vehicles
GABRIEL PRESENCE: UTILITY VEHICLES • Manufacturing Facility: Chakan & Khandsa • R&D Centre: Pune • Product Portfolio: McPherson struts, Gas Shock Absorbers, Volkswagen Steering Dampers Taigun Skoda Kushaq Toyota Hyryder • Commenced the technology of FSD (Frequency Selective Damping) in damper suppli
Slide 26: YTD Segment Performance – Commercial Vehicles
YTD SEGMENT PERFORMANCE – COMMERCIAL VEHICLES (INCL. AM & RAILWAYS) Performance • CV segment grew by in Q3 FY24 as compared to Q3 FY23 New Program 11% % to Total Sales 89% Market Share Mahindra – UPP -G1 , E Jeeto & 3W , TML – Coral , 55T (High Damping force Dampers) , VECV Titan LCV EV Dampers , TV
Slide 27: Gabriel Presence – Railways
GABRIEL PRESENCE- RAILWAYS Damper for Various Bogie of Railroad ▪ Manufacturing Facility: Chakan, Pune ▪ R&D Centre: Pune ▪ Product Portfolio: Damper for Rajdhani/Shatabdi Coach, ICF Conventional coach, EMU/MEMU Coach & Diesel Locomotive ▪ 1st Indigenous Company to develop damper for Rajdhani/ Shata
Slide 28: Aftermarket
AFTERMARKET Strong Brand Extensive Distribution Recent Widest Presence Through Equity Network Highlights Product Range Allied Products • Achieved 3% growth over Q3 22- • Only Company present in all • Brand “Gabriel” • 10 CFA locations & 700+ • Leveraging Brand synonymous with dealer network 23. Sale
Slide 29: Our Strategic Business Drivers: Merger & Acquisition
OUR STRATEGIC BUSINESS DRIVERS Merger & Acquisition Gabriel India Ltd. | www.anandgroupindia.com/gabrielindia/ 28
Slide 30: Merger & Acquisition
MERGER & ACQUISITION Product diversification is one of the important levers in both de-risking our business and also improving shareholders value • Gabriel India is the flagship of the ANAND Group. From being a single-product company in • Founded in the Netherlands in 1946, with over 1961, Gabriel I
Slide 31: IGSSPL Plant Readiness
IGSSPL PLANT READINESS Plant View Assembly Line PU Line Gabriel India Ltd. | www.anandgroupindia.com/gabrielindia/ 30
Slide 32: Our Strategic Business Drivers: Technology
OUR STRATEGIC BUSINESS DRIVERS Technology Gabriel India Ltd. | www.anandgroupindia.com/gabrielindia/ 31
Slide 33: Gabriel Europe Engineering Centre (GEEC)
GABRIEL EUROPE ENGINEERING CENTRE (GEEC) • Competence Centre for knowledge transfer and training • Centre of Excellence aiming to become Best in Class on Global Suspension Market • Joint development of Gabriel Next Generation Technologies with GIL R&D and global external partners • Located at Thor P
Slide 34: Gabriel Pune Tech Centre: IGBC Certified Green Building
GABRIEL PUNE TECH CENTRE: “IGBC” CERTIFIED GREEN BUILDING Gabriel India Ltd. | www.anandgroupindia.com/gabrielindia/ 33
Slide 35: Gabriel Tech Centre: Powering Our Future, Driving Possibilities
GABRIEL TECH CENTRE: POWERING OUR FUTURE, DRIVING POSSIBILITIES ➢ In-house facility for customers for ride tuning of vehicles ➢ Advanced damper technology for the enhanced user experience ➢ CO2 footprint reduction through product light weighting and use of green technologies ➢ Virtual analysis for s
Slide 36: Achieving Engineering Excellence
ACHIEVING ENGINEERING EXCELLENCE Laser Welding Technology, Friction Designed & Developed Remote Welding Technology, Water based Canister Shock Absorber Autophoretic Paint System Adjustable Electronic-Hydraulic Shock Absorbers with Shock Absorber for a leading SUV Floating Piston vehicle in Aftermark
Slide 37: Awards and Accolades
AWARDS AND ACCOLADES Award from Bajaj for Platinum Rating for Delivery and Quality Gabriel India Ltd. | www.anandgroupindia.com/gabrielindia/ 36
Slide 38: Awards and Accolades
AWARDS AND ACCOLADES Won CII TCM Award in “Manufacturing Champion” Won CII TCM Award in “Sustainability Champion” Merit Merit Category Category Gabriel India Ltd. | www.anandgroupindia.com/gabrielindia/ 37
Slide 39: Corporate Overview
Corporate Overview Gabriel India Ltd. | www.anandgroupindia.com/gabrielindia/ 38
Slide 40: Gabriel at a Glance
GABRIEL AT A GLANCE Corporate Profile • Incorporated in 1961 • Pioneer of Ride Control Products in India with state-of-the-art integrated operations • Strong R&D focus, employing 60 specialists, highest in the industry • Experienced, professional management team and Board of Directors • Marquee clie
Slide 41: Strategic Manufacturing Footprint
STRATEGIC MANUFACTURING FOOTPRINT Khandsa - PC Parwanoo - 2W,CV,AM Dewas - CV,3W Sanand – 2W Nashik – 2W Chennai IGSSPL Plant (100% Subsidiary) Chakan – PC,CV,3W GIL Plants GIL Satellite Locations IGSSPL, Chennai - Sunroofs *Maps not to scale. All data, information, and maps are provided "as is" wit
Slide 42: Strategic Manufacturing Footprint
STRATEGIC MANUFACTURING FOOTPRINT Chakan 2010/ Sanand Volkswagen, M&M, Toyota, Tata Motors, Bajaj 1997 Tata Motors, HMSI, 2019 Auto, Piaggio, DAF & Indian Railways . Dewas Hosur Khandsa Tata Motors, M&M, 1992 TVS, HMSI, Royal 1997 2007 Maruti Suzuki, Honda Cars Daimler, Force Motors, Enfield, Ashok
Slide 43: Competitive Advantages
COMPETITIVE ADVANTAGES Strong Parentage of Quality at Competitive Anand Group Price • Flagship company of ANAND Group, a one-stop • 7 state-of-the-art facilities in proximity to OEMs solution provider for customers ensures just-in-time supply as per demand while • Leverage partnerships, systems, pro
Slide 44: Relationships with Marquee OEM Customer Base
RELATIONSHIPS WITH MARQUEE OEM CUSTOMER BASE 2/3 Wheelers Passenger Cars CV & Railways Gabriel India Ltd. | www.anandgroupindia.com/gabrielindia/ 43
Slide 45: Safety Focus
SAFETY FOCUS ❖ Collaboration for training with British Safety Council ❖ Dexterity Centre for induction training ❖ App Based abnormality reporting ❖ Online work permit monitoring Safety House Standardization: Communication Training & Skill Continual Technology R&R and Consequence Development Improvem
Slide 46: Human Resources
HUMAN RESOURCES In-depth sectoral knowhow Mar' Mar’ Mar’ Mar’ Mar’ Key Metrics Seasoned Resources 23 22 21 20 19 Revenue per employee 0.66 0.61 0.43 0.51 0.53 (Rs Cr) Strong employee Average employee connect experience 8.0 8.0 9.0 8.0 7.0 (person years) Investment in training programmes 1.94 1.05 0.
Slide 47: Great Place to Work – Five Consecutive Years
“GREAT PLACE TO WORK” – FIVE CONSECUTIVE YEARS 2019 • Rank #90 among Top 100 Companies to work for in India 2018 • Rank #89 among Top 100 Companies to work for in India 2017 • Ranked in Top 25 workplaces in manufacturing in India • Ranked #2 in Auto & Auto Component Industry • Rank #52 among Top 100
Slide 48: Sustainability Mission
SUSTAINABILITY MISSION CUSTOMER VALUE Mission TO BE CARBON & WATER NEUTRAL BY 2025 WITH ZERO WASTE TO LANDFILL Gabriel India Ltd. | www.anandgroupindia.com/gabrielindia/ 47
Slide 49: Sustainability: Gabriel Carbon Footprint
Gabriel Carbon Footprint SUSTAINABILITY 45 0.56 GHG (kg) Production (nos) 0.70 MILLIONS 0.60 GHG/shox 0.60 0.61 0.60 39.1M 40 0.54 0.60 35.3M 34.0M 0.50 35 32.8M 31.4M 31.6M 29.6M 0.50 30 25 23.4M 0.40 21.1M 20.7M 19.8M CUSTOMER 20 17.7M 0.30 VALUE 15.9M 15.9M 15 0.20 10 0.10 5 0 0.00 2017-18 2018-1
Slide 50: Annual Report 2022-23 BRSR
Annual Report 2022-23 BRSR Gabriel India Reports its first BRSR in its Annual Report for 2022-23 Considering, reporting of company’s performance on sustainability related factors as vital as reporting on financial and operational performance, SEBI vide its circular SEBI/HO/CFD/CMD-2/P/CIR/2021/562 d
Slide 51: CSR Initiatives 2022-23
CSR INITIATIVES 2022-23 Focus Area Parwanoo Gurugram Dewas Jawai Nashik Rewari Scholarships: Ten girls (3- MEDHAVI Provide education to 350+ school 7yrs.) to pursue education Scholarships: Support 11 students from govt./low grade at ANAND School matriculate girls to complete private schools who are
Slide 52: Board of Directors
BOARD OF DIRECTORS Anjali Singh Manoj Kolhatkar Atul Jaggi Jagdish Kumar Executive Chairperson Managing Director Deputy Managing Director Group President & Group CFO Gabriel India Gabriel India Gabriel India ANAND Group Pradeep Banerjee Matangi Gowrishankar Pallavi Joshi Bakhru Mahua Acharya Non-Exe
Slide 53: Executive Leadership
EXECUTIVE LEADERSHIP Manoj Kolhatkar Managing Director Atul Jaggi Amitabh Srivastava Deputy Managing Director Rishi Luharuka Vinod Razdan Koen Reybrouck Chief Operating Officer, Chief Financial Officer Head- Human Chief Technical Railways and Aftermarket and Resource Advisor Business Unit Head- Stra
Slide 54: Customer Awards & Accolades
CUSTOMER AWARDS & ACCOLADES Special Award by Volvo ZERO KM PPM and Quality MSES-A Level Award Eicher Commercial Vehicles certification by Toyota Kirloskar by Mahindra & Limited Motor Mahindra Award for Pre "C" VA activity by Honda Motorcycle and Scooter Periodic Cost Reduction Award By Supplier Samr
Slide 55: Industry Awards & Accolades
INDUSTRY AWARDS & ACCOLADES Quality Excellence Award in 9th FICCI 45th International Convention Gabriel Gold in Manufacturing Excellence in Very Quality System excellence awards for India, Nashik received Platinum Award Large Category by Automotive Industry and National Conference by ICQCC Dhaka Com
Slide 56: 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. Nilesh Jain Mr. Jigar Kavaiya / Pratik Shah secretarial@gabriel.co.in jigar.kavaiya@sgapl.net / p.s.shah