august 2 0 1 8 - sandhar technologiesinvestor presentation 2 this presentation and the accompanying...
Post on 11-Mar-2020
5 Views
Preview:
TRANSCRIPT
AUGUST 2 0 1 8
Investor Presentation
INVESTOR PRESENTATION 2
This presentation and the accompanying slides (the “Presentation”), which have been prepared by Sandhar TechnologiesLtd. (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendationor invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with anycontract or binding commitment whatsoever. No offering of securities of the Company will be made except by means of astatutory offering document containing detailed information about the Company.
This Presentation has been prepared by the Company based on information and data which the Company considers reliable,but the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on,the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation maynot be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of thecontents of, or any omission from, this Presentation is expressly excluded. Certain matters discussed in this Presentationmay contain statements regarding the Company’s market opportunity and business prospects that are individually andcollectively forward-looking statements. Such forward looking statements are not guarantees of future performance and aresubject to known and unknown risks, uncertainties and assumptions that are difficult to predict. These risks anduncertainties include, but are not limited to, the performance of the Indian economy and of the economies of variousinternational markets, the performance of the tire industry in India and world-wide, competition, the company’s ability tosuccessfully implement its strategy, the Company’s future levels of growth and expansion, technological implementation,changes and advancements, changes in revenue, income or cash flows, the Company’s market preferences and its exposureto market risks, as well as other risks. The Company’s actual results, levels of activity, performance or achievements coulddiffer materially and adversely from results expressed in or implied by this Presentation. The Company assumes noobligation to update any forward-looking information contained in this Presentation. Any forward-looking statements andprojections made by third parties included in this Presentation are not adopted by the Company and the Company is notresponsible for such third party statements and projections.
Safe Harbour
INVESTOR PRESENTATION 3
Sandhar Technologies – Overview
Incorporated in 1987 by a first generation entrepreneur, supported by a qualified management team, Historyof PE investment
Customer-centric component supplier, largely focused on vehicular safety and security systems with a pan-India presence and growing international footprint
Scalable business model with high technological capabilities through in-house R&D, global tie-ups andacquisitions
79 Indian and global automotive OEM customers with leading names like Honda, TVS, Tata Motors, Hero –shares relationship with Hero for 30 years
21 product categories catering to various industry segments with leadership position in core products andfocus on increasing customer spend per vehicle
34 manufacturing facilities in India, 2 in Spain, 1 in Mexico and 3 in the process of getting commissioned
FY18 consolidated revenue of INR 1988 Crs. , EBITDA of INR 213 Crs and PAT of INR 65.61 Crs - Standalonebusiness drives most of it
Growth led by Organic and Inorganic means – 4 Acquisitions; Technology diversification, Businessdiversification and customer acquisition
INVESTOR PRESENTATION 4
Diversified Product Portfolio
Entry into high value-added products -which enables it to achieve significant scale to overcome entry barriers
Integral part of customers’ supply chains offering multiple products, thus increasing its share in their costs of production
Expanded product portfolio over the years beginning from 100% Sheet metal components in 1987
Locking Systems (22.4%)
Vision Systems ( 11.9%)
Al Die Casting (14.9%)
Sheet Metal Components ( 12.7%)
Cabins & Fabrication ( 9.9%)
2 Wheeler59%
PV/CV13.8%
OHV, Tractors9.9%
Tier-114.5%
Non-Auto3%
21 product lines
Auto Electronics New
INVESTOR PRESENTATION 5
Diverse Product Portfolio Across Various End-User Segments
Locks, Vision, Handles & Switches
Wheels & Handle Bar Assemblies
Sheet Metal parts for Auto & OHV
Aluminium & Zinc PDC
Cabins, Canopies for OHVs
Plastic Injection Moulding
Tools & Dies
Upto Rs. 3,800 worth of partsGone up from Rs.3200 in 2015
Upto Rs. 11,750 worth of partsGone up from Rs. 10,881in 2015
Over 2,400 Part & Component Nos.
Upto Rs. 3300 worth of partsGone up from Rs. 2500 in 2015
Upto Rs. 2500 worth of partsGone up from Rs. 400 in 2015
Upto Rs. 314,000 worth of partsGone up from Rs.300,000 in 2015
INVESTOR PRESENTATION 6
7%
11%
8%
5%
3%
AutoSector
STLRevenue
2W PV ConstructionEquipment
Long-standing and Growing Relationships with Major OEMs
Relationship with 79 OEMsspread across India, East andWest Europe, and NAFTAregions
Outperformance vs. Auto Market(1)
(1) CAGR from FY13-18
2 Wheelers
4 Wheelers
Off - Highway Vehicles (OHV) / Tractors
Tier I
Long standing relationship with quality and timely delivery
Successfully able to qualifythrough stringent selectionprocedures of OEM customers
Expanded customer basethrough new products,segments and acquisitions
29% 21% 8%
5%4.4%
Top 7 Customers: 75.7% Contribution
INVESTOR PRESENTATION 7
Manufacturing Locations in Close Proximity to Automobile Hubs
Scalability and flexibility
Risk mitigation
Reduced volatility of sales
Timely response to customers
“BE GLOCAL”
Taking Production to Customers
Technology Platforms High Precision Sheet Metal stamping / Fabrication Non-Ferrous Die Casting ( Zinc- Aluminium- Magnesium) Plastic Moulding Surface Treatment ( Nickel-Chrome) Robotic Paint Shop
Adjacent to Customers
Gurugram (Hero) Chennai (Royal Enfield) Bengaluru, Nalagarh (TVS)
Spain (Western Europe) Poland (Eastern Europe) Mexico (NAFTA) Dedicated facilities for few
customers ( Honda, JCB)
Driven by Customer Needs – Increase in Customer Stickiness
INVESTOR PRESENTATION 8
Innovation through In-house R&D and Technical Collaborations
Recognition by DSIR* 31 engineers
R&D projects across segments viz. Security system, mirror,
evaporator products, electronics, and safety systems
Registered 14 patents, filed 2 trademark applications
Most manufacturing facilities have own engineering
departments
TC agreements with Honda Locks and JEM Techno, and 6 JVs with
established players
* Department of Scientific & Industrial Research, Government of India
Sandhar Center for Innovation & Development (SCID)
PRODUCT
DESIGN
IMPROVEMENTNEW PRODUCT
DESIGNING
END-TO-END
RESEARCH
CAPABILITIESPRODUCT
BENCHMARKING
DESIGN
ANALYSIS AND
SIMULATIONRAPID
PROTOTYPING
CENTRALIZED
PRODUCT DATA
MANAGEMENT
THROUGH PLM
SOFTWARE
VALIDATION TO
IPR FILING
AND PROTECTION
PRODUCT
TESTING
INVESTOR PRESENTATION 9
List of Patents
Segment Category Patent
2W
Leadership
Three-point locking mechanism
Anti–theft bike stand lock
Magnetically operated handle lock cum ignition switch for two and three-wheeler vehicles
A cable actuated fuel tank cap with compact locking mechanism for motorcycles
Magnetically operated handle lock cum ignition switch for two and three-wheeler vehicles
Simultaneous braking (front / rear) system for foot brake operated two-wheelers
Simultaneous braking (front / rear) system for only hand brake operated two-wheelers
Futuristic
Roll over valve for motorcycles or two-wheeler vehicles
A replaceable roll over valve fitted with fuel filler cap of motorcycle
A fuel tank cap with inbuilt carbon canister for two-wheelers
Two-wheelers front turn indicator on Mirror housing / Frame
4W Futuristic
Electrically triggered inside rear-view dimming mirror
Integrated steering lock cum ignition switch with fuel tank cap and seat latch actuator
Fuel tank cap assembly
INVESTOR PRESENTATION 10
Experienced Management Team Backed by Good GovernanceStandards
Executive Management Team
Jayant Davar
Co-Chairman and Managing Director
First generation entrepreneur with 3 decades of experience in auto componentssector
Mechanical engineer and alumnus of Harvard Business School
Arvind Joshi
Whole time Director, Chief Financial Officer, Company Secretary
CA, CS and LLB with over 20 years of experience
Over 2 decades of experience in managing corporate finance, legal, and commercial functions across diverse businesses and companies in India and overseas
Strong Corporate Governance Standards with 6 Independent Directors on the Board
ArvindKapur
Independent Director
(Since 2005)
MLBhagat
Independent Director
(Since 1993)
Arjun Sharma
Independent Director
(Since 2016)
Ravinder Nagpal
Independent Director
(Since 2001)
KLChugh
Independent Director
(Since 2003)
DharmendarNath Davar
Chairman
Gaurav Dalmia
Nominee Director
(Since 2012)
Monica Davar
Director
(Since 1987)
Well Qualified Workforce
Awards, Recognitions and Certifications
OHSAS 18001,
ISO 14001
GoldenPeacock National Quality
Award2012
Winners Award at the CII
Preliminary Quality Circle Convention
2014
Chapter Quality Concepts, National Chapter – 7 awardspar excellence & 7
excellence2016
Special Recognition
Award at the CII National 5S Excellence
Award2017
Supplier Performance
Award for excellence in cost
2017
Total Workforce
7,744
Engineers~27%
Technical Diploma~25%
Other Professionals~8%
Associates
5,381
Employees
2,363
INVESTOR PRESENTATION 11
Business Structure
Business Divisions Subsidiaries Joint Ventures
Sandhar Automotives
Locking Systems Vision Systems Door Handles Latches Hinges Relays
Sandhar Components
Sheet Metal Stampings Plastic Injection Moldings Aluminium PDC Zinc PDC *
Sandhar Automach
Steel Wheel Rims and Assemblies
Handle Bar Assemblies Clutch Assemblies Fender Assemblies Brake Panel Assembly
Cabin & Fabrication
Sheet Metal Fabrications Operator cabins
Sandhar Technologies Barcelona [100%]*
Vehicle Restraint Systems Windscreen Wiper Systems, Anti-
vibration System & Suspension Systems
Sandhar Tooling [80%]
Plastic Moulds / Zinc & Aluminium PDC Dies
Sandhar Strategic Systems [100%]
Indo Tooling
Stamping Tools
Sandhar Han Sung Tech
AVN & Switches assemblies
Jinyoung Sandhar Mechatronics Technologies
High precision press parts
HCIL Division
Locking Systems Handles, Vision systems Mg Die Casting
Sandhar Daewha Automotives
Fuel Pumps & Oil/Air Filters
Sandhar Amkin IndustriesCorporate Support Functions
Strategic Planning, Projects, Finance, Legal, Procurement, Maintenance, Human Resources, Business
Development, Corporate Communications, Research & Development, Information Technologies and CSR
Sandhar Technologies MexicoSandhar Technologies Poland
Breniar Projects SL
Helmets
Sandhar Technologies
New
New
New
New
New
INVESTOR PRESENTATION 12
Management Organisation Chart
Mr. Arvind Joshi
Wholetime Director, CFO & CS
Mr. Jayant Davar
Co-chairman & Managing Director
Mr. Rajesh Agarwal
New Projects
Mr. Sanjay Goel
Internal Audit
Mr. Ramesh Chauhan
Central Maintenance
Division
Mr. Rajeev Bhattacharya
Central Procurement
Division
Ms. CharuKhatri
Resource Mobilisation
& Legal
Mr. NarendraDogra
Accounts Controller
Mr. ChandanSengupta
Human Resources
Mr. DilipKumar Naik
Research & Development
Mr. Sanjay Maindiratta
Information Technology
Ms. Vinita shaw
Parking Sensors Division
Mr. PrabodhKumar
Honda Cars Division
Mr. Y.S. Chauhan
SneetMetals & Tooling
Mr. G. J. Singh
Cabins & Fabrication
Mr. Juan Vilar
Aluminium Diecasting -
overseas operations
Mr. D.K. Ashok
Automach
Mr. NirajHans
Automotive & Relay Division
Mr. Ajay Raghav
AluminiumDiecasting -
Indian operations
Mr. R.K. Malik
Polymers Division
CORPORATE
BUSINESS
INVESTOR PRESENTATION 13
In-house Capabilities and Best Practices
Centralised Procurement Division (CPD)
Harness synergies in purchasing
Development of vendor base
Control variations in purchase prices across various units
Development of a better understanding of costing across items and units
Centralised Maintenance, Capital Asset Management
Management of assets across all manufacturing facilities in India
Optimization of repairs and maintenance expenses
Energy conservation
Creation of a safe production environment
IT Systems
Implementation of ERP system in 2009
IT systems aiding in design, development and prototyping
Product lifecycle management system
ISO certifications for security, systems and business continuity management systems
Human Resource
No supply disruptions or union issues in the history
No labour unions in any manufacturing facility but 8 where long-term agreements with trade unions have been signed
Careful Risk Mitigation Providing Internal Strength
INVESTOR PRESENTATION 14
Key Strategies
Expansion of customer base
Increasing wallet share from existing
OEM customers
Enhance innovation and
design capabilities
Ensure efficiency and cost
optimization
Inorganic growth through strategic acquisitions
Product portfolio expansion through
investments
INVESTOR PRESENTATION 15
Demand Drivers vs. our Preparedness
Changes in Safety Norms
Government of India has proposed to make certain safety features mandatory in near future
Rear-parking sensors
ABS, CBS
Tyre-pressure monitor
Helmets
Cabins
Auto Fuels and Emission Norms
Successful implementation of BS IV
BS VI to be introduced in April 2020
Consumer Preferences
Consumers preferring new technologies for comfort, entertainment
Growing customer preference for safety and convenience features e.g. Smart Locks
Increasing demand for auto electronics
Developing Global Sourcing hub
India developing as global sourcing hub for major OEMs
Expanding exports portfolio
Joint Ventures Technical
Collaborations In-house R&D
INVESTOR PRESENTATION 16
Expansion to Adjacent Industry Segments
Addition of operatorcabins through acquisitionof Mag Engineering inFY13
Acquisition of cabinbusiness of Arkay Fabsteelin FY15
Leadership in 2W/4W Segments
Leader in 2W lockingsystems market in India
Largest supplier of CV rearview market in India
One of the two largestsuppliers of CV lockingsystems in India
One of the two largestsuppliers of 2W rear viewmirrors in India
Largest player in excavatorcabins market
One of the two largestmanufacturers of operatorcabins in India
Entry into Construction Equipments
Marked Presence in CE Segment
INVESTOR PRESENTATION 17
Jinyong Sandhar Mechatronics Pvt. Ltd
AVN Panel Assemblies
LWR Switch
Switches
Remocon Switch Center Fascia Switch
Capability AVN Panel Assemblies and Switches
Location: Chennai
Customer: Hyundai Mobis
This is a Joint Venture with Jinyong Electro-Mechanics.
INVESTOR PRESENTATION 18
Sandhar Daewha Automotive Systems Pvt. Ltd.
Wiper Blades
Conventional & hybrid
Electric Fuel Pump Module
(For 2 and 4 wheelers)
Electric Fuel Pump
(EFI for 2 wheeler)
Oil Filter (Spin on type)
for Passenger Cars
Electric Fuel Pump
(EFI for 4 wheeler)
Electric Fuel Pump
Transistor type
Oil Filter (Chromium
Plating) for Motorcycles
Capability Fuel Pumps, Filters and Wiper blades
Location: Manesar (production likely to start by April 2018)
Joint Venture with Daewha Fuel Pump Ind., Ltd.
INVESTOR PRESENTATION 19
Upcoming Projects
Sandhar Whetron T C and Joint Venture
Rear Parking Sensors, Cameras, Automatic Parking, Digital Video Recorders, Blind Spot Detection, Anti- theft Systems, Tyre Pressure Monitoring, Radars, Head-Up-Display, USB Chargers, Battery Management System, Auto Lighting, Door Open Alert, Lane Departure Alert, Rear Cross Traffic Alert etc.
Rear Parking Sensors
USB ChargersTyre Pressure Monitors
Digital Video recorder
Anti Theft System
Sandhar Daeshin Joint Venture
Sandhar Amkin Joint Venture
Helmets – Full Face, Flip Up, Open Face and Moto Cross
Gear Shifters Automatic & Manual and Parking Brake Levers
Gear Shifters Parking Brake Lever
INVESTOR PRESENTATION 20
11,623 12,689
14,873 15,179 16,335
19,888
FY13 FY14 FY15 FY16 FY17 FY18
Strong Track Record of Topline Growth.. (cont’d)
Consistent Revenue Growth…
All figures in INR Mn
Segmental share of auto industry in 2017-18 Automotive component demand trajectory
0.0
5.0
10.0
15.0
20.0
0
5
10
15
FY14 FY15 FY16 FY17 FY18
Passenger vehicles Commercial vehicles
Scooters M/Cycles
(Mn Units) (Mn Units)
1,813 1,954 2,114 2,2622,510
-3%
8% 8%7%
11%
-4%
-2%
0%
2%
4%
6%
8%
10%
12%
0
500
1,000
1,500
2,000
2,500
3,000
FY14 FY15 FY16 FY17 FY18
(INR Bn)
INVESTOR PRESENTATION 21
192 332 384 337 416
656
1.7%
2.6% 2.6%2.2%
2.4%
3.3%
FY13 FY14 FY15 FY16 FY17 FY18
PAT (INR Mn) PAT Margin
954 1,202 1,444 1,460 1,525 2,130
8.2%9.5% 9.7% 9.6% 9.3%
10.7%
FY13 FY14 FY15 FY16 FY17 FY18
EBITDA (INR Mn) EBITDA Margin
..Translating to Healthy Returns.. (cont’d)
Healthy EBITDA Margins.. ..and PAT Margins..
..Along with Efficient Working Capital Cycle.. ..Resulting into Attractive Return Ratios
17% 16%14% 13%
14%16% 16%
14% 13%
18%
FY14 FY15 FY16 FY17 FY18
ROE RoCE
58 5864 63 54
36 42 43 42 44
82 8291 88 85
1217 16 16 13
FY14 FY15 FY16 FY17 FY18
Inventory Days Receivable Days
Payable Days Working Capital Days(1) Inventory Days= Avg Inventory/COGS*365; (2) Receivable Days = Avg Receivables/Net Operating Revenues*365; (3) Payable Days = Avg Payable/COGS*365; (4) Working Capital Days = Inventory Days+Receivable Days-Payable Days
(1) (2)
(3) (4)
(5) (6)
(5) ROE = PAT/Avg Net Worth; (6) RoCE = EBIT/Avg Capital Employed;
Capital Employed = Net Worth + ST Borrowings + LT Borrowings + Current Portion of LT Debt* RoE and RoCE for FY18 have been projected through annualization
INVESTOR PRESENTATION 22
..Through Investments Already in Place
Capital Expenditure(1) Behind Cumulative Addition to Gross Block (2)
1,185
904
1,113 1,075 1,101
1,761
FY13 FY14 FY15 FY16 FY17 FY18
Plant & Equipment
68%
Buildings17%
Land (Freehold + Leasehold)
6%
Intangible4%
Office Equipments
3%
Furniture & fixtures
1%
Vehicles1%
INR5554 Mn*
1) Purchase of Property, plant and equipment including intangible assets, capital work in progress and capital advances2) Change in Gross Block from restated consolidated statement of fixed assets
(FY13-18)(INR Mn)
INVESTOR PRESENTATION 23
Standalone…Profit & Loss (Rs in Crs)
S.N. Q1 FY'19 UAQ4 FY'18 A Q1 FY'18 UAFY '18 A
1 Revenue from operations 493.37 411.61 432.33 1,721.40
2 Other income 0.79 1.45 0.95 4.44
3 Total income (1+2) 494.16 413.05 433.28 1,725.84
4 Expenses
(a) Cost of materials consumed 314.63 245.83 247.39 1,071.48
(b) Changes in inventories of finished goods and work-in-
progress 2.56 (0.63) 3.08 (3.31)
(c) Excise duty - - 37.23 37.23
(d) Employee benefits expense 60.15 54.26 48.24 202.02
(e) Finance costs 3.12 10.16 9.01 38.12
(f) Depreciation and amortization expense 15.71 14.66 13.08 55.13
(g) Other expenses 66.85 63.49 53.64 227.51
Total expenses 463.02 387.77 411.66 1,628.16
5 31.14 25.28 21.62 97.68
6 - -
7 Profit before tax (3-4) 31.14 25.28 21.62 97.68
8 Tax expenses
(a) Current tax 6.87 7.58 6.63 29.67
(b) Current tax of earlier years - - - -
(c)
Minimum alternate tax (MAT) credit entitlement /
reversal - - - -
(b) Deferred tax (credit) / charge 2.37 (0.00) 0.21 0.28
Total tax expenses 9.24 7.58 6.84 29.95
9 Net profit after tax (5-6) 21.90 17.70 14.78 67.73
10 Other comprehensive income
(0.25) (0.22) (0.22) (0.88)
- - - -
ii) Income tax relating to the above 0.08 0.08 0.08 0.30
Total other comprehensive income for the period (a (i+ii)) (0.16) (0.14) (0.14) (0.58)
11 Total comprehensive income for the period (7+8) 21.74 17.56 14.64 67.15
12 60.19 60.19 51.15 60.19
13 Reserve excluding Revaluation Reserves 563.39
14
(a) Basic 3.64 0.03 2.89 13.21
(b) Diluted 3.64 0.03 2.89 13.21
PARTICULARS
Profit from operations before tax (3-4)
Exceptional items
a) Items that will not be reclassified to profit and loss
i) Loss on remeasurement of defined benefit obligation
Earnings Per Share (EPS) (Face value of Rs 10/- per share)
Paid up equity share capital ( Face value of Rs 10/- per share)
INVESTOR PRESENTATION 24
Standalone…Balance Sheet (Rs in Crs)
Particulars As at
30 June 2018
As at
31 March
2018
Assets
Non-current assets
Property, plant and
equipment
572.27 519.17
Capital work-in-progress 14.29 63.60
Goodwill 5.52 5.52
Other Intangible assets 8.00 8.74
Financial assets - -
- Investments 60.64 49.28
- Loans 8.16 7.67
Income-tax assets 0.99 0.99
Other non-current assets 9.19 13.08
Total non-current assets 679.06 668.06
Current assets
Inventories 135.42 121.96
Financial assets - -
- Loans 3.37 3.14
- Trade receivables 255.74 234.80
- Cash and cash
equivalents
0.32 253.47
- Other bank balances 1.01 1.02
- Other financial assets 9.48 10.29
Other current assets 32.70 28.37
Total current assets 438.04 653.05
Assets held for sale 0.97 0.97
Total assets 1,118.07 1,322.08
Particulars As at
30 June 2018
As at
31 March
2018
Equity and liabilities
Equity
Equity share capital 60.19 60.19
Other equity 585.13 563.39
Total equity 645.32 623.58
Liabilities
Non-current liabilities
Financial liabilities
- Borrowings 0.90 1.00
- Other financial liabilities 0.04 0.04
Government grant - -
Deferred tax liabilities (net) 7.94 5.65
Total non current
liabilities
8.88 6.69
Current liabilities
Financial liabilities
- Borrowings 127.94 73.99
- Trade payables 257.89 289.47
- Other financial liabilities 29.72 291.48
Other current liabilities 20.45 11.58
Income-tax Liabilities 15.39 13.77
Provisions 12.47 11.52
Total current liabilities 463.86 691.81
Total equity and liabilities 1,118.07 1,322.08
INVESTOR PRESENTATION 25
649 (+22) Net Worth ( Rs in Crs)
129 (-200) Borrowings
702 (+68) Gross Block (Rs in Crs)
61(+ 11) Investments
50.0 Cash generated from Operations
33Cash Used in Investing
61/53 Increase in WC / Borrowings
9 Free Cash Flow
Summary …..As on 30th Jun’18
INVESTOR PRESENTATION 26
Particulars As at
31 March
2018
As at
31 March
2017
As at
1 April
2016
Assets
Non-current assets
Property, plant and equipment 66,261.81 58,152.83 51,225.19
Capital work-in-progress 7,189.39 2,924.91 5,524.25
Goodwill 553.30 553.30 553.30
Other Intangible assets 942.30 777.76 776.77
Equity accounted investees 1,006.82 613.33 524.23
Financial assets
- Investments 856.44 359.29 270.99
- Loans 929.42 567.76 429.94
Income-tax assets 133.10 105.67 181.56
Other non-current assets 1,307.95 700.96 793.31
Total non-current assets 79,180.54 64,755.79 60,279.53
Current assets
Inventories 20,568.00 16,182.61 15,689.77
- Investments 576.43 108.18 100.88
- Loans 1,144.57 907.15 795.49
- Trade receivables 26,743.15 20,532.80 16,331.18
- Cash and cash equivalents 25,499.02 567.83 360.47
- Other Bank balances 101.69 102.85 123.44
- Other financial assets 1,029.35 1,178.38 214.86
Other current assets 3,502.89 2,209.42 2,162.13
Total current assets 79,165.09 41,789.20 35,778.22
Assets held for sale 97.17 140.20 -
Total assets 1,58,442.80 1,06,685.19 96,057.75
Particulars As at
31 March
2018
As at
31 March
2017
As at
1 April
2016 Liabilities
Equity
Equity share capital 6,019.07 5,115.46 5,115.46
Other equity 57,405.51 25,096.59 22,165.79
Equity attributable to owners of the Company 63,424.58 30,212.05 27,281.24
Non controlling interest 282.64 222.80 184.83
Total equity 63,707.22 30,434.85 27,466.07
Non-current liabilities
Financial liabilities
- Borrowings 1,282.89 20,916.76 19,441.53
- Other financial liabilities 1,011.86 510.91 575.35
Provisions 86.47 113.10 78.84
Deferred tax liabilities (net) 955.80 856.58 952.29
Total non current liabilities 3,337.02 22,397.35 21,051.01
Current liabilities
- Borrowings 20,799.75 18,208.81 12,330.90
- Trade payables 34,805.82 23,241.31 22,259.08
- Other financial liabilities 31,385.87 9,985.67 11,038.65
Government grant - 3.00 6.00
Other current liabilities 1,874.31 1,262.27 1,003.22
Provisions 2,532.80 1,151.93 902.82
Total current liabilities 91,398.55 53,852.99 47,540.67
Total equity and liabilities 1,58,442.79 1,06,685.19 96,057.75
Detailed Financial Statements: Balance Sheet (1/2)
INVESTOR PRESENTATION 27
New Business Status
Annual - Rs. 47 Crs Annual - Rs. 76CrsAnnual - Rs. 59 Crs
Annual - Rs. 11.15 CrsOthers - Rs. 21.59 CrsOHV - Rs. 81 Crs
INVESTOR PRESENTATION 28
New Business Status- Product category
• Rs.77 CrsLock Assembly
• Rs. 48 CrsSheet Metal components
• Rs 35 CrsMirror Assembly
• Rs. 38 CrsCabins & Fabrication
• Rs 28 Crs Handle Assemblies
• Rs. 30 CrsAluminium Die Casting
• Rs.9 CrsZinc Die Casting parts
• Rs. 11 Crs Plastic Components
Total New Annual Business awarded: Rs. 276 Crs
INVESTOR PRESENTATION 29
Particulars
For the
year ended
31 March
2018
For the
year ended
31 March
2017
Cash Flow from Operating Activities
Profit Before Tax 9,702.12 5,206.83
Adjustments : 11,115.66 9,600.85
Operating Profit before Working Capital Changes 20,817.78 14,807.68
Change in Working Capital -99.07 -4,431.74
(Excluding Cash & Bank Balances)
Cash Generated From Operations 20,718.71 10,375.94
Less : Taxes paid 1,765.15 890.40
Net Cash Flow from Operating Activities (A) 18,953.56 9,485.54
Net Cash Generated/(Used) in Investing Activities (B) -18,734.99 -10,651.78
Net Cash Generated/(Used) from Financing Activities (C ) 24,712.62 1,373.57
Net Change in Cash & cash equivalents 24,931.19 207.34
(A+B+C)
Cash and cash equivalents as at the beginning of year 567.83 360.47
Cash & cash equivalents as at end of the year 25,499.01 567.82
Detailed Financial Statements: Cash Flow Statement (2/2)
INVESTOR PRESENTATION 30
Improving Industry Growth Across Segments
Source: Crisil ReportNote: All graphs are for domestic sales
2-Wheelers Segment
14.8 15.9 16.4 17.620.1
21.522.9
FY14 FY15 FY16 FY17 FY18E FY19E FY20E
(Mn Units)
Passenger Vehicles Segment
2.5 2.52.8 3.0
3.33.7
4.2
FY14 FY15 FY16 FY17 FY18E FY19E FY20E
(Mn Units)
Commercial Vehicles Segment
(‘000 Units)
Construction Equipment Segment
(‘000 Units)
551 533592 616
673727
786
FY14 FY15 FY16 FY17 FY18E FY19E FY20E
36 37
5361
70
2014 2015 2016 2017P 2018P
INVESTOR PRESENTATION 31
Strong Macroeconomic Tailwinds
High Real GDP Growth… …with Declining Inflation
9.4%
5.9%4.9% 4.5% 4.0%
FY14 FY15 FY16 FY17 FY18E
CPI Inflation (YoY)
98 105 114 122 130 177
6.4%7.5% 8.0%
7.1% 7.0%
FY14 FY15 FY16 FY17 FY18P FY22P
GDP (Constant FY12 prices) GDP growth (YoY)
Increase in purchasing power of Indians to drive demand for Automobiles, bolstered by…
Rising Farm Incomes (1) Decreasing Auto Finance Yields
85 8780
87 91
35 35 34 37 38
FY14 FY15 FY16 FY17 FY18E
Kharif production Index Rabi Production Index
15.3 15.3 14.9 14.5 13.9
25.6 25.6 25.1 24.7 24.5
13.3 13.2 12.7 12.2 11.5
FY 14 FY 15 FY 16 FY 17 FY 18E
Passenger Vehicles Commercial Vehicles 2 Wheelers
Source: Crisil Report
(%)
Auto Sector Outlook Anticipated to be Robust
(1) Base of 100 for Index (kharif + rabi) taken for 2008-09. All subsequent year values are relative to this year
(INR Tn)
INVESTOR PRESENTATION 32
Subsidiaries
Sandhar Technologies Barcelona, S L
99.88% Aluminium Spindles Reel Axles acting as
Seat Belt Retractors
Spain (2) Mexico (1) Poland (assembly/
packaging)
Sandhar Tooling 79.92%
Tools, Moulds Dies Jigs Fixtures.
Manesar, Gurugram
Sandhar Strategic Systems
99.99% Defense and
Aerospace Sector Yet to commence
Ownership % Manufacturing Facilities
Business Operations
INVESTOR PRESENTATION 33
MoUs and Technical Collaborations
9 non-binding MoUs for manufacturing products such assmart key systems, fog lamp and shield lamp parts,shark-fin antennas, carbon canisters, and valves, amongothers
Various Players in South Korea,
China, and Malaysia
Use of JEM’s technology to manufacture/assemble automobile relays
10 year term automatically extendable for 3 more yearsJEM Techno
Use of HL’s technology to manufacture/assemble door mirrors, outside door handles, and key sets
6 year term automatically extendable for 1 more yearHonda Lock
MoUs
Technical Collaborations
INVESTOR PRESENTATION 34
[TBU]
Strategy
• To capture new growth opportunities
• To consolidate market around existing portfolio
Technology
• Define long term roadmap
• Strategic positioning in the value chain of product & service
Cost
• Implement lower operating cost base
• Ensure sufficient financing for the upcoming transition
INVESTOR PRESENTATION 35
[TBU]
Thank You
top related