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Proud to be part of. Presentation on Interim Unaudited Consolidated Financial Results For the period ended December 31, 2016 The presentation has been prepared from interim unaudited consolidated financial statements for nine months ended Dec 31, 2016, prepared in accordance with International Financial Reporting Standards (“IFRS”) as adopted by the European Union (“IFRS EU”)

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Page 1: Presentation on Interim Unaudited Consolidated Financial ...€¦ · Proud to be part of. Presentation on Interim Unaudited Consolidated Financial Results For the period ended December

Proud

to be

part of.

Presentation on Interim Unaudited

Consolidated Financial Results

For the period ended December 31, 2016

The presentation has been prepared from interim unaudited consolidated financial statements for nine months ended Dec 31, 2016, prepared in accordance with International Financial Reporting Standards (“IFRS”) as adopted by the European Union (“IFRS EU”)

Page 2: Presentation on Interim Unaudited Consolidated Financial ...€¦ · Proud to be part of. Presentation on Interim Unaudited Consolidated Financial Results For the period ended December

2

Key highlights

• On January 02, 2017 SMRP BV through its subsidiaries acquired 100% of

the issued share capital of Kobek Siebdruck GmbH & Co. KG (hereinafter

‘Kobek’).

• The total purchase consideration amounts to € 1.6Mio as follows–

€ 1.5Mio - 100% shares of Kobek Siebdruck GmbH & Co. KG

acquired for

€ 0.1Mio - certain machinery and equipment from the erstwhile

owner which were leased to Kobek Siebdruck GmbH & Co. KG

before acquisition

Recent developmentsAcquisition of Kobek Siebdruck GmbH & Co. KG

Kobek –Specialist in lighting

• Specialist in silk-screen printing and forming to three-dimensional items

• Expertise in the lighting for automotive industry application

• Solution provider from CAD data processing to turnkey printed products

Investment rationale

• SMRP BV would be able to leverage the potentials of the unique lighting

technology of Kobek combined with it’s product portfolio to add value and

provide innovative solutions to its customers

• SMP Group through one of its subsidiaries already delivers illuminated/non-

illuminated interior in-mold decoration parts for some of the Global platforms.

• This acquisition will enhance product portfolio with more value addition and

increased vertical integration.

Products and Technology

LED Solutions

• Unique LED-based solution that provides

shadow-free and uniform diffused lighting

over an entire slim-mount panel

Acrylic Glass

• Processing of Plexiglas or other plastics

including dust-free printing, scratchproof

coatings and precise milling or laser

cutting.

Silk-Screen Printing

• Shaping and forming of Plexiglas in a

downstream process for design applications

• Painted or powder-coated instrument panels

• Labels and manufacturer's nameplates

• Self-adhesive front foils and membrane

keyboards on the basis of high-precision

plotting

Lightning

• Realization of individual lightning items for

living with a design partner.

Kobek Siebdruck

Page 3: Presentation on Interim Unaudited Consolidated Financial ...€¦ · Proud to be part of. Presentation on Interim Unaudited Consolidated Financial Results For the period ended December

3

• CEFA was treated as a joint venture in the consolidated financial statements

of the Company prior to December 20, 2016 and accounted for using equity

method.

• With effect from December 20, 2016, being the date of acquisition of control,

the assets and liabilities of CEFA have been consolidated.

• The assets and liabilities of CEFA have been consolidated using provisional

amounts as the exercise for determining fair valuation of the assets and

liabilities (other than cash) was still in progress as on the date of issue of

these interim unaudited condensed consolidated financial statements.

• There were no significant revenue transaction from Dec 20, 2016 to Dec 31,

2016 and therefore income statement has not been consolidated from Dec

20, 2016 to Dec 31, 2016.

Key highlights

• SMRPBV Group (hereinafter ‘the Company’) holds 50% shareholding in

Celulosa Fabril (Cefa) S.A. (hereinafter ‘CEFA’). On Dec 20, 2016, the

Company through its subsidiaries acquired majority control over the board of

directors of CEFA.

• As a result of above event, the Company through its subsidiaries is regarded

parent of CEFA and accordingly CEFA along with its subsidiary Modulos

Ribera Alta S.L.U. (MRA) is treated as a subsidiary of the Company with

effect from December 20, 2016.

• The acquisition of additional control did not involve payment of any further

purchase consideration.

Recent developmentsAcquisition of control in Celulosa Fabril (Cefa) S.A

Products and Technology

• CEFA, Celulosa Fabril SA, produces polymer-based parts for

Passenger Cars, Commercial Vehicles and Light Trucks.

• CEFA’s portfolio is focused in interiors, being Instrument

Panels, Door Panels, Floor Consoles and Trunk Trims.

Accounting Implication

CELULOSA

FABRIL S.A.

Módulos Ribera

Alta S.L.U

Page 4: Presentation on Interim Unaudited Consolidated Financial ...€¦ · Proud to be part of. Presentation on Interim Unaudited Consolidated Financial Results For the period ended December

4

SMRP BV Group Structure

Corporate Structure as at February 14, 2017 and is not a legal structure

Samvardhana Motherson Global Holdings Ltd Cyprus

Samvardhana Motherson Polymers LtdIndia

Motherson Sumi Systems Limited

Kobek Siebdruck GmbH & Co. KG

100%

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5

Global Presence

23,400+ Workforce.

Module

Centers.

Countries.18

48 Manufacturing

Plants.

11

Above information is as at December 31, 2016

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6

Q3 15-16 Q3 16-17

44

.8

51

.8

6.6%6.8%

Q3 15-16 Q3 16-17

37

.9

46

.3

10.7%

11.4%

Q3 15-16 Q3 16-17

1,0

36

.2

1,1

63

.2

Q3 15-16 Q3 16-17

68

1.7

75

6.8

Q3 15-16 Q3 16-17

35

5.2

40

7.0

Revenue & EBITDA For the quarter ended Dec 31, 2016

SMRP BV.+12 %

Adjusted EBITDA*

€ Mio.% to Revenue.

SMP. SMR.+11 % +15 %

+19 % +16 % +22 %

* Refer slide 8 for details

Q3 15-16 Q3 16-17

82

.7

98

.1

8.0%

8.4%

Revenue.€ Mio.

Page 7: Presentation on Interim Unaudited Consolidated Financial ...€¦ · Proud to be part of. Presentation on Interim Unaudited Consolidated Financial Results For the period ended December

7

9M 15-16 9M 16-17

97

.5

11

4.8

9.5%

9.9%

9M 15-16 9M 16-17

12

4.3

15

0.8

6.4%

6.9%

9M 15-16 9M 16-17

22

1.8

26

5.6

7.5%

8.0%

9M 15-16 9M 16-17

1,9

42

.0

2,1

75

.8

9M 15-16 9M 16-17

1,0

29

.7

1,1

55

.4

9M 15-16 9M 16-17

2,9

70

.1

3,3

29

.5

SMRP BV.+12 %

Adjusted EBITDA*

€ Mio.% to Revenue.

SMP. SMR.+12 % +12 %

+20 % +21 % +18 %

* Refer slide 8 for details

Revenue.€ Mio.

Revenue & EBITDA For nine months ended Dec 31, 2016

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Adjusted EBITDA overview

1. Start-up cost incurred for new plants & facilities under construction 2. Net gain/(loss) recognised on final settlement of insurance claim resulting from business interruption at SMP’s paint facility in Polinya, Spain

For the quarter ended Dec’ 31.

For nine months ended Dec’ 31.

Income Statement

€ millions SMRPBV SMP SMR SMRPBV SMP SMR

Revenue 1,036.2 681.7 355.2 1,163.2 756.8 407.0

EBITDA 76.4 38.5 37.9 91.5 45.2 46.3

% to Revenue 7.4% 5.6% 10.7% 7.9% 6.0% 11.4%

Startup cost for greenfield1 (6.3) (6.3) - (6.6) (6.6) -

Adjusted EBITDA 82.7 44.8 37.9 98.1 51.8 46.3

% to Revenue 8.0% 6.6% 10.7% 8.4% 6.8% 11.4%

3M ended Dec 31, 20163M ended Dec 31, 2015

Income Statement

€ millions SMRPBV SMP SMR SMRPBV SMP SMR

Revenue 2,970.1 1,942.0 1,029.7 3,329.5 2,175.8 1,155.4

EBITDA 209.5 112.0 97.5 249.1 134.3 114.8

% to Revenue 7.1% 5.8% 9.5% 7.5% 6.2% 9.9%

Startup cost for greenfield1 (12.9) (12.9) - (16.5) (16.5) -

Net gain/(loss) Insurance Claim2 0.6 0.6 - - - -

Adjusted EBITDA 221.8 124.3 97.5 265.6 150.8 114.8

% to Revenue 7.5% 6.4% 9.5% 8.0% 6.9% 9.9%

9M ended Dec 31, 2015 9M ended Dec 31, 2016

Page 9: Presentation on Interim Unaudited Consolidated Financial ...€¦ · Proud to be part of. Presentation on Interim Unaudited Consolidated Financial Results For the period ended December

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25%

8%

12%

10%8%

9%

5%

5%

5%3%

2%8%

Audi25%

Daimler13%

VW10%Seat

8%

Hyundai/Kia8%

BMW7%

Porsche6%

Renault /Nissan5%

Ford5%

GM4%

JLR2%

Others 7%

Revenue Split - By CustomerFor nine months ended Dec’ 31, 2016

Diversified Customer Profile

Moving towards 3CX15.

+ 15%

+12 %

9M 15-16

€2,970.1 Mio

9M 16-17

€3,329.5 Mio

Page 10: Presentation on Interim Unaudited Consolidated Financial ...€¦ · Proud to be part of. Presentation on Interim Unaudited Consolidated Financial Results For the period ended December

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Germany37%

Spain17%UK

3%

Europe (Others)

12%

USA8%

Mexico4%

Brazil2%

China8%

APAC (Excl China)9%

Germany38%

Spain18%

UK4%

Europe (Others)

12%

USA7%

Mexico3%

Brazil2%

China6%

APAC (Excl China)10%

9M 16-17.

Revenue Split - By GeographyFor nine months ended Dec’ 31, 2016

9M 15-16.

Page 11: Presentation on Interim Unaudited Consolidated Financial ...€¦ · Proud to be part of. Presentation on Interim Unaudited Consolidated Financial Results For the period ended December

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Dec 15 Mar 16 Dec 16

Capital Creditors (2) (3) (6)

Trade Payables (41) (49) (44)

Receivables - non current 5 5 7

Trade Receivables 44 45 47

Inventory 16 15 15

13 22 19

Trade Working Capital

€ Millions. No of Days.

Dec 15 Mar 16 Dec 16

Capital Creditors (23.2) (28.6) (69.7)

Trade Payables (447.3) (545.9) (543.0)

Receivables - non current 57.8 57.5 90.3

Trade Receivables 485.3 497.4 572.9

Inventory 174.1 165.1 186.2

145.5 246.7

236.7

Above figures exclude the impact of consolidation of CEFA as at 31st Dec 2016 to facilitate comparison.

Page 12: Presentation on Interim Unaudited Consolidated Financial ...€¦ · Proud to be part of. Presentation on Interim Unaudited Consolidated Financial Results For the period ended December

12

Capital ExpenditureFor nine months ended Dec’ 31, 2016

Expenditure on new facilities/expansion –

€ 117.6 million (approx. 72%)

€ 157 Million

€ 57 Million

Greenfield/Brownfield

€ 141 Million

Approx. 66%

USA32%

Hungary26%

Germany 15%

Mexico10%

China3%

Spain3%

Others11%

€ 214 Millions

USA

47%

Hungary

35%

Mexico

10%

Korea

5%India

2%China

1%

Page 13: Presentation on Interim Unaudited Consolidated Financial ...€¦ · Proud to be part of. Presentation on Interim Unaudited Consolidated Financial Results For the period ended December

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Summary of Cash FlowFor nine months ended Dec’ 31

Statement of Cash Flows (€ millions)April 1, 2015 to

Dec 31, 2015

April 1, 2016 to

Dec 31, 2016

Cash flow from operating activities before changes in

working capital and income tax 204.9 251.8

Changes in working capital (170.7) (157.6)

Income tax paid (47.6) (42.0)

Cash flow from operating activities (13.4) 52.2

Purchase of property, plant and equipment (including Pre-

Payments) (179.2) (171.2)

Others 12.4 (2.2)

Cash flow from investing activities (166.8) (173.4)

Proceeds from issue of bond 100.0 352.3

Net Proceeds/(Repayment) of borrowings/finance

leases 40.8 (51.5)

Interest Paid (18.2) (27.3)

Others (6.2) (11.7)

Cash flow from financing activities 116.4 261.8

Net increase in cash and cash equivalents (63.8) 140.6

Cash and cash equivalents at the beginning of the period 184.1 192.5

Variation in cash and cash equivalents from change in

Cons Group (CEFA/MRA) - 2.4

Variation in cash and cash equivalents from translation

in foreign currencies (1.5) 1.8

Cash and cash equivalents at the end of the period 118.8 337.3

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Cash & Debt Status

Cash.

Net debt & leverage.

Gross debt.

31.12.2015 31.03.16 31.12.16

RCF 1 80.7 58.0 4.0

Finance Lease 13.0 13.4 7.4

Working Capital 37.3 26.7 40.1

Term Loan 11.1 10.7 20.5

HY Bond 585.1 585.7 963.3

694.5

1,035.3

727.2

118.8 192.5

337.3

31.12.2015 31.03.16 31.12.16

608.4

502.0

698.0

2.24

1.77

2.16

31.12.2015 31.03.16 31.12.16

€ Mio. € Mio.

€ Mio.

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52 6 8

867

103

Gross Debt € Million

1 year 1 to 2 years 2 to 4 years 4 to 5 years > 5 years

Liquidity StatusAs at Dec’ 31, 2016

Available Liquidity*.

Leverage Ratio .Maturity profile.

€ in MillionsSanctioned

Limit

Utilised as at

Dec 31, 2016

Liquidity

Available

RCF 1 (including Ancilary facility) 250.0 4.0 246.0

RCF 2 100.0 - 100.0

Cash and Cash Equivalents 337.3

Total Liquidity Available 683.3

* Available liquidity subject to headroom under leverage ratios

Key Ratios# Allowed Dec 31, 2016

Gross Leverage Ratio: Indenture 3.50x 3.18x

Net Leverage Ratio : RCF 3.25x 2.16x

# Computed as per definitions given in Indenture & RCF agreements

Page 16: Presentation on Interim Unaudited Consolidated Financial ...€¦ · Proud to be part of. Presentation on Interim Unaudited Consolidated Financial Results For the period ended December

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Status of upcoming facilitiesTuscaloosa, USA

Company : SMP

Location: Tuscaloosa, AL (USA)

Type: Greenfield Plant

Product: Bumpers, Door panels,

spoilers and other exterior parts

Operational : Q1 FY18-19

Q1 FY15-16

New

Development

Q3 FY15-16 Q1 FY16-17

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Company : SMR

Location: San Luis Potosí, Mexico

Type: Expansion / Paint Shop

Product: Exterior Rear View mirrors

Operational : Q4 FY 16-17 (expansion)

Q1 FY16-17

Status of upcoming facilitiesSan Luis Potosi, Mexico

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Company : SMP

Location: Kecskemet, Hungary

Type: Greenfield plant

Product: Bumpers & Door Panels

Operational : Q4 FY 17-18

Q1 FY15-16

New

Development

Q3 FY15-16 Q1 FY16-17

Status of upcoming facilitiesKecskemet, Hungary

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Company : SMR

Location: Mosonszolnok, Hungary

Type: Expansion / New Paint Shop

Product: Exterior Rear View mirrors

Operational : Q4 FY 17-18

Q1 FY16-17

Status of upcoming facilitiesMosonszolnok, Hungary

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Company : SMR

Location: Incheon city, South Korea

Type: Relocation of plant

Product: Mirror parts, powerfold,

Operational : Q1 FY 17-18

Q1 FY16-17

Status of upcoming facilitiesIncheon city, South Korea

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360 degrees value creation.

Proudto bepart of.

Customerssuccess.

Investorvalue.

Employeelives.

Partnercollaborations.

Communitystrength.

Page 22: Presentation on Interim Unaudited Consolidated Financial ...€¦ · Proud to be part of. Presentation on Interim Unaudited Consolidated Financial Results For the period ended December

22

Safe harbour

Safe harbour

This presentation contains forward-looking statements based on the currently held beliefs and assumptions of the management of the Company, which

are expressed in good faith and, in their opinion, reasonable. Forward-looking statements involve known and unknown risks, uncertainties and other

factors, which may cause the actual results, financial condition, performance, or achievements of the Company or industry results, to differ materially

from the results, financial condition, performance or achievements expressed or implied by such forward-looking statements. Given these risks,

uncertainties and other factors, recipients of this presentation are cautioned not to place undue reliance on these forward-looking statements. The

Company disclaims any obligation to update these forward-looking statements to reflect future events or developments.

Thank you.