Wheels India Limited · NSE:WHEELS
Wheels India — Investor Presentation (June 2023)
21 slides from Wheels India's investor presentation, June 2023
Slide 1: Wheels India Limited Investor Presentation June'23
Wheels India Limited Investor Presentation June’23 111
Slide 2: TSF Group Overview
TSF Group Overview • Companies part of the T S Santhanam family ~$2.7 Bn. Consolidated with lineage from the erstwhile TVS Group Turnover FY22 • Diversified portfolio across Auto components, Dealerships & Distribution and Financial 1936 services Since 15 36+ Business • Global supply chain partner wi
Slide 3: TSF Group Companies
TSF Group Companies TSF Group Auto Components Auto Distribution & Dealerships Finance and Insurance Brakes India Sundaram Finance India Motor Parts & Accessories Wheels India Limited Royal Sundaram General Insurance Turbo Energy Sundaram Motors Sundaram Home Finance Axles India Madras Auto Sundaram
Slide 4: Promoters & Value system of TSF
Promoters & Value system of TSF Wheels India Limited (WIL) is part of the TSF Group and was established in 1960 WIL is a listed Company, wherein Promoters hold 58.73 % of the equity capital . Value systems of WIL are customer centricity, Integrity , respect for the people & team work and excel
Slide 5: Wheels India Ltd - Company Profile
Wheels India Ltd - Company Profile Tractor & Earth mover wheels Automotive - Steel & Aluminium Wheels 1960 Establishment Components for energy sector Air suspension & Lift axles 10 Units Manufacturing plants Fab Sector Hydraulic Cylinders $ 530 Million $ 120 Million (Exports) Preferred Railways WIL
Slide 6: Journey of Wheels
Journey of Wheels WIL RENEWABLE BAWAL PLANT- FABRICIATION ESTABLISHED ENERGY PLANT, CHASSIS AND HARYANA, PLANT, AT PADI, CONSTRUCTION EARTHMOVER PANTNAGAR THERVOYKANDI SUSPENSION FORGED NAMACHIVAYAP CHENNAI, PASSENGER EQUIPMENT WHEELS PLANT, GAI, TAMIL PRODUCTS ALLUMINIUM URAM, TAMIL TAMIL NADU CAR
Slide 7: Accreditations/Awards
Accreditations/Awards General Motors Supplier Quality Caterpillar Supplier Excellence Overall Performance award Excellence Award 2020 Award 2022 by MSIL ISO 14001: 2015 & IATF 16949 Certification ISO 9001:2015 CERTIFICATION ISO 45001:2018 Certification 77
Slide 8: Manufacturing Capability
Manufacturing Capability Passenger Car / UV Car / UV Wire Wheels CV – Tube type Commercial Vehicle CV - Tubeless Forged Aluminium Wheels Aluminium Wheels Cast Aluminium Wheels Off Road & Tractor Wheels Tractor Earth Mover wheels Construction wheels Air Air Suspension Suspension Lift Axles Fab & Fabr
Slide 9: Plant Locations
Plant Locations CV, TR, LP, EM, AS, WW,FAW, EEPD CV , LP , EM & TR -Rampur CV, TR & LP- Pune Chennai EM, SPDC & AS - Sriperumbudur FAB -Namachivayapuram EEPD - Pukkathurai LAS - Mambakkam CAW - Thervoy Kandigai 1 EEPD, RPD and Small components - Machining plant - Thervoy Kandigai 2 Irungattukottai 9
Slide 10: Key Customers
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Slide 11: Business Overview
Business Overview WIL a leader in automotive wheels business , operates in two business segments , namely automotive products and industrial products . WIL has the following businesses in its fold ; Automotive wheels division Construction & Mining division comprising wheels, fabrication and hydr
Slide 12: P&L Q4 FY23
P&L Q4 FY 23 Values in INR Cr / % Quarter ended Particulars Q4 FY23 % Q4 FY22 % YOY% Gross Revenues 1,173.06 100.00 1,108.06 100.00 5.9% EBIDTA 75.50 6.45 78.92 7.12 -4.3% Depreciation 17.13 1.46 24.09 2.17 -28.9% PBIT 58.37 4.99 54.83 4.95 6.5% Interest 26.46 2.26 17.68 1.60 49.7% PBT 31.91 2.73 37
Slide 13: Sales growth & Export Sales Growth
Sales growth & Export Sales Growth Values in INR Cr Sales growth 4355.56 3701.07 3188.84 2438.72 2215.94 2018-19 2019-20 2020-21 2021-22 2022-23 Export Sales growth 1000.65 976.20 609.67 566.01 487.75 19.12% 20.00% 25.54% 27.04% 22.41% 2018-19 2019-20 2020-21 2021-22 2022-23 Export Sales % on total
Slide 14: FY23 Summary Financials
FY 23 Summary Financials Values in INR Cr / % Key Financials 31-03-2023 31-03-2022 GOLY% Gross revenues 4,355.56 3,701.07 17.7% EBITDA 243.84 264.63 -7.9% Interest 92.10 63.10 46.0% Depreciation 66.22 95.02 -30.3% PBT 85.52 106.51 -19.7% PAT 65.17 79.79 -18.3% EBITDA % 5.60% 7.15% PBT% 1.96% 2.88% 1
Slide 15: Segment Revenue FY23
Segment Revenue FY23 Values in INR Cr / % Segmental Revenue 22-23 21-22 GoLY FY23 Automotive components 3,607 2,935 23% Industrial components 725 752 -4% Revenue from operations 4,332 3,687 18% Segmental EBIT 22-23 21-22 GoLY FY23 Automotive components 178.66 134.76 33% Industrial components -1.04 3
Slide 16: Capex
Capex Values in INR Cr 200.81 200.00 192.92 144.17 129.63 111.86 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24 (Est) Major Capex spent recently Cast aluminium wheel plant was set up in 2020-21, at a cost of Rs 200 crs in Thervoykandigai, Tiruvallur in Tamil Nadu . Machining plant to cater the wind
Slide 17: Debt profile
Debt profile Values in INR Cr Particulars 31.03.2023 31.03.2022 Long term loan 109.98 179.58 Working capital loan 380.60 427.73 Public deposits 230.97 203.75 Total debt in books 721.55 811.06 Bills discounting 409.35 399.26 Total 1,130.90 1,210.32 17
Slide 18: Debt metrics: Debt Equity, Debt to EBITDA, DSCR, ISCR
DEBT metrics Values in INR Cr/Percentage DEBT Debt Equity 1.20 811.06 1.02 721.55 0.96 578.40 609.17 0.80 1.01 452.88 2018-19 2019-20 2020-21 2021-22 2022-23 2018-19 2019-20 2020-21 2021-22 2022-23 During FY23 debt has declined by Rs 90 crs Debt equity will decline below 1 in FY24 Debt to EBITDA DSC
Slide 19: Free Cash Flow (FCF)
Free Cash Flow (FCF) Values in INR Cr Particulars 2019-20 2020-21 2021-22 2022-23 FCF 117.81 Profit after Tax 54.1 6.8 79.7 65.2 Add: Depreciation 70.2 80.6 95.0 66.2 Add: Provision for Tax -10.4 3.5 27.0 20.5 Cash Profit from Operations 113.9 90.9 201.7 151.9 -29.86 Add/-Less : -104.11 Change in WC
Slide 20: Key strategies & focus areas; ROCE & RONW
Key strategies & focus areas, going forward …. Percentage ROCE & RONW Growing exports across automotive wheels, construction & earth moving wheels and energy equipment products Ramp-up aluminium wheels business and invest on aluminium wheel capacities progressively Ramp-up the new facility for
Slide 21: Thank you
Thank you 21