UNO Minda Limited — Investor Presentation 2018

Nov 13, 2018

Minda Industries Ltd.

Corporate Office

Ref.No. Z-IV /R-39/D-2/NSE/207 & 174 Date : 13/11/2018

UNOE]mlJ

NK MINDA GROUP

THINK . INSPIRE . FLOURISH

Ref.No. Z-IV /R-39/D-2/NSE/207 & 174 Date : 13/11/2018 NK MINDA GR THINK . INSPIRE . F	Ref.No. Z-IV /R-39/D-2/NSE/207 & 174 Date : 13/11/2018 NK MINDA GR THINK . INSPIRE . F
National Stock Exchange of India Ltd. Listing Deptt., Exchange Plaza, Bandra Kurla Complex, Bandra (E), Mumbai - 400 051 BSE Ltd. Regd. Ofce: Floor - 25, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai-400 001.
NSE Scrip: MINDAIND	BSE Scrip: 532539

Subject: Intimation of Schedule of Analyst / Institutional Investor meetings under the SEBI (isting Obligations and Disclosure Requirements), Regulations 2015

Dear Sirs,

Pursuant to the relevant prov1s10ns of SEBI (Listing Obligations and Disclosure Requirements), Regulations 2015, we would like to inform you that the officials of the Company will be attending the following Conference of Institutional Investors.

			Date		Or�anised by	Place
13th	to	15th	November	2018	Macquarie Capital Securities (India) Private Limited	Mumbai

The copy of Investor Presentation - November 2018. which will be shared with Investors at the Conference is attached herewith and is also available on website of the Company at www.unominda.com

This information is submitted to you pursuant to Regulation 30(6) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements), Regulations, 2015

Kindly note that changes may happen due to exigencies on the part of Host / Company.

Thanking you,

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MINDA INDUSTRIES LTD. (Corporate Office) Village Nawada Fatehpur, P.O. Sikanderpur Bodda, Manesar, Distt. Gurgaon, Haryana - 122004, INDIA. Tel.: +91 124 2290427/28, 2290693/94/96 Fax: +91 124 22906 76/95 Emailinfa@mindagroup.com,www.mindagroup.com Regd. Office: B-64/1, Wazirpur Industrial Area, Delhi-110052, CIN: L74899DL1992PLC050333

Investor Presentation November 2018

This presentation and the accompanying slides (the “ Presentation”), has been prepared by Minda Industries 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 the basis or be relied on in connection with any contract or binding commitment whatsoever. No offering of securities of the Company will be made except by means of a statutory 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 may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded.

Certain matters discussed in this Presentation may contain statements regarding the Company’s market opportunity and business prospects that are individually and collectively forward-looking statements. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and assumptions that are difficult to predict. These risks and uncertainties include, but are not limited to, the performance of the Indian economy and of the economies of various international markets, the performance of the auto ancilliary industry in India and world-wide, competition, the company’s ability to successfully 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 exposure to market risks, as well as other risks. The Company’s actual results, levels of activity, performance or achievements could differ materially and adversely from results expressed in or implied by this Presentation. The Company assumes no obligation to update any forward-looking information contained in this Presentation. Any forward-looking statements and projections made by third parties included in this Presentation are not adopted by the Company and the Company is not responsible for such third party statements and projections.

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Quarterly Update Presentation

3

Revenue^ (Rs. Cr)

EBITDA (Rs. Cr)

PAT* (Rs. Cr)

Margin (%)

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Quarter 2
+39% +39% +26% EBITDA
PAT
1,522 189 84 12.4% 12.4%
67
1,098 137
6.1%
5.5%
Q2 FY18 Q2 FY19 Q2 FY18 Q2 FY19 Q2 FY18 Q2 FY19 Q2 FY18 Q2 FY19
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+44% +51% EBITDA
H1 +47%
PAT
2,952 359 165 12.2%
11.6%
2,044 238 112
5.5% 5.6%
H1 FY18 H1 FY19 H1 FY18 H1 FY19 H1 FY18 H1 FY19 H1 FY18 H1 FY19
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1,522
45
25
33
16
21
61
223
1,098
Q2 FY18 MRPL (SW) MIL Stand. (SW+L) MKAWL (OTH) MJCL (OTH) Rinder (L) MDSL MITIL + OTH Q2 FY19
2,952
89
54
56
41
81
155
432
2,044
H1 FY18 MRPL (SW) MIL Stand. (SW+L) MKAWL (OTH) MJCL (OTH) Rinder (L) MDSL MITIL + OTH H1 FY19
Quarter 2
H1
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Revenue Q2 FY18 Q2 FY19
26.3% 26.7%
31.2%
39.8%
Switches
11.8%
15.2%
Lighting
27.3%
21.7%
EBITDA Q2 FY18 Q2 FY19 Acoustics
28.1%
40.4%
34.6%
42.8%
Others
19.3%
5.8%
9.8% 19.2%
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Q2 FY19 Acoustics
40.4%
34.6%
Others
5.8%
19.2%
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Revenue H1 FY18
24.9%
31.5%
16.3%
27.3%
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EBITDA H1 FY18
29.5%
39.4%
20.0%
11.2%
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H1 FY19
24.7%
40.8%
Switches
12.8%
Lighting
21.7%
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H1 FY19 Acoustics
34.4% 41.3%
Others
7.9%
16.4%
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7
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Quarter 2
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H1
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Geography-wise Breakup
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Channel-wise Breakup
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Segment -wise Breakup
10%
16%
44%
56%
84%
90%
India International OEM Replacement 2/3 W 4 W
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10%
90%
OEM Replacement
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16%
84%
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46%
54%
2/3 W 4 W
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India International

8

Group Consolidation Status: (₹ Cr)

Group Consolidation Update:

• TG Minda has become a Joint venture company by September 28, 2018.

• TG Minda is among leading players in Air Bag business in India.

• MIL‘s 2 wheeler lighting business has been hived off to Rinder India Private Limited (100% subsidiary) with effect from 30th June 2018,.

• Hence higher growth in Rinder India Sales

i-SYS RTS Acquistion Update:

• Acquisition completed on September 12, 2018. It is now as Subsidiary of MIL, has been consolidated in this quarter for 18 days

Sr. No.	Company	Effective Date	Consideration	Consideration	Consideration	Consideration	Revenue
			FY16	FY17	FY18	FY19	FY18
1	ASEAN (51%)	Jul 2015	26	-	-	-	206
2	MJCL (50%)	Aug 2015	14	-	-	-	274
3	Kosei Minda (30%)	Mar 2016	12	-	-	-	216
4	Minda TG (51%)	Mar 2016	19	-	-	-	52
5	Roki Minda (49%)	Oct 2016	-	43	-	-	342
6	ASEAN (49%)	Apr 2017	-	-	29	-	-
7	MI Torica (60%)	Apr2018	-	-	8	-	253
8	MRPL (24%)	Jan 2018	-	-	95	-	728
9	D 10 Minda (50%)	Jan 2018	-	-	26	-	343
10	TG Minda (48%)	Oct-2018			20	137	481
Total			71	43	178	137	2,895

Group Consolidation is ~90% completed, remaining to be completed in FY 2018-19

9

2 Wheelers Alloy Wheels ➢ A new Project for alloy wheel has been approved to be set up for 2 Wheeler OEMs ➢ The expected outlay for the first phase of the project is Rs300 cr ➢ The first line is targeted to achieve the SOP by end of FY2019-20 ➢ The plant will be located in Maharashtra ➢ Capacity: 300,000 wheels per month ➢ Rationale ✓ Import Substitution opportunity: ~60% of the industry requirement is imported. ✓ Imports not attractive due to duty 15% on imports and appreciating USD ✓ Need for localization for improved reliability

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Controller & Telematics
➢ A new Project for controller and telematics for
a total outlay Rs 80 cr over next 12 months
➢ This will be business division of MIL and will
operate in tandem with i-SYS to maximize
synergies
➢ The Project is expected to be commissioned in
end of 2019-20
➢ Rationale
✓ The notification making AIS 140 regulation
mandatory for all public transport and
commercial vehicles has been advanced by
three months i.e., with effect from January 01,
2019.
✓ Controllers will witness increased demand
with rise in electronic content &
premiumization
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Particulars (Rs. Cr)	Q2 FY19	Q2 FY18 YoY %	Q1 FY19	QoQ %	H1 FY19	H1 FY18 YoY %
Revenue from Operations (Net of Excise)	1,521.7	1,098.4 39%	1,429.8	6%	2,951.5	2,043.5 44%
Raw Material Employee Cost Other Expenses	937.6	686.3 138.5 137.0	882.5 188.6 188.7		1,820.1	1,270.6 268.9 266.1
	195.3				383.9
	199.5				388.2
EBITDA EBITDA Margin	189.3	136.6 39% 12.4% 1bps	170.1 11.9%	11% 55bps	359.4	238.0 51% 11.6% 53bps
	12.4%				12.2%
Other Income Depreciation	4.8	4.4 38.3	6.5 49.3		11.3	13.3 74.0
	56.1				105.4
EBIT EBIT Margin	138.0	102.8 34% 9.4% -29bps	127.3 8.9%	8% 17bps	265.3	177.2 50% 8.7% 31bps
	9.1%				9.0%
Finance Cost	15.1	6.3	13.2		28.2	14.2
Profit before Share of Profit/Loss of JVs and Tax PBT Margin	123.0	96.5 27% 8.8% -70bps	114.1 8.0%	8% 10bps	237.1	163.1 45% 8.0% 5bps
	8.1%				8.0%
Tax	38.7	29.7	33.6		72.3	50.9
Profit before Share of Profit/Loss of JVs	84.2	66.8 26%	80.5	5%	164.7	112.2 47%
Share of Profit/Loss of JVs	4.5	6.5	4.1		8.7	12.7
Net profit/(loss) after share of profit/(loss) of associates / joint ventures (A) PAT Margin%	88.8	73.3 21% 6.7% -84bps	84.6 5.9%	5% -8bps	173.4	124.8 39% 6.1% -23bps
	5.8%				5.9%
PAT attributable to: - Owners of MIL - Non Controlling Interests Other Comprehensive Income		67.4 8% 5.9 1.4	70.1 14.6 2.5	4%		115.3 24% 9.6 1.8
	72.7				142.8
	16.1				30.6
	4.4				6.8
Total Comprehensive Income for MIL TCI Margin %	77.1	68.9 12% 6.3% -120bps	72.5 5.1%	6% -1bps	149.6	117.1 28% 5.7% -66bps
	5.1%				5.1%
Total Comprehensive Income for Non Controlling Interests	16.2	17.3	14.6		30.8	9.6

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ASSETS	**30th Sept., 2018 **	31st Mar., 2018
Non-current assets Property, plant and equipment Capital work-in-progress Other intangible assets Intangible assets under development Goodwill on Consolidation Financial assets (i) Investments (ii) Loans (iii) Others Deferred tax assets (net) Other tax assets Other non-current assets
	1,426.0	1,199.4
	134.3	192.1
	46.5	39.3
	22.5	18.7
	166.1	111.8
	334.6	155.2
	17.6	14.5
	4.3	16.8
	7.4	18.6
	32.8	31.2
	63.8	40.4
Sub-total - Non-Current Assets	2,255.9	1,838.0
Current assets Inventories Financial assets (i) Trade receivables (ii) Cash and cash equivalents (iii) Bank balances other than Cash and Cash equivalents above (iv) Loans (v) Other financial assets Othercurrent assets
	570.1	417.5
	983.0	789.7
	100.7	125.6
	8.9	33.9
	4.0	1.6
	34.3	18.0
	153.3	140.7
Sub-total -Current Assets	1,854.2	1,527.1
TOTAL -ASSETS	4,110.1	3,365.1

EQUITY AND LIABILITIES	30th Sept., 2018	31st Mar., 2018
Equity Equity Share capital Other equity Non-ControllingInterest
	52.4	17.4
	1,535.2	1,374.3
	243.5	211.0
Sub-total - Shareholders' funds	1,831.1	1,602.7
LIABILITIES Non-current liabilities Financial liabilities (i) Borrowings (ii) Other financial liabilities Provisions
	437.9	240.0
	81.0	51.5
	74.6	103.8
Sub-total - Non-current liabilities	593.5	395.3
Current liabilities Financial liabilities (i) Borrowings (ii) Trade payables (iii) Other financial liabilities Other current liabilities Provisions Current tax liabilities(net)
	404.2	302.8
	979.5	798.4
	184.4	155.4
	96.6	91.8
	20.9	14.8
	-	3.8
Sub-total - Current liabilities	1,685.5	1,367.1
TOTAL - EQUITY AND LIABILITIES	4,110.1	3,365.1

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About Us

13

Vision

Key Words

To be a Sustainable Global organization that enhances value for all its Stakeholders attains , Technology Leadership and cares for its people like

Sustainable Global Stakeholders Technology Leadership Family

a Family

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14

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MIL Turnover
2018
Rs. 4,504
Group Turnover crore
Rs. 6,915
crore
MIL Turnover
2017
Rs. 3,400
Group Turnover crore
Rs. 5,616
crore
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Regulatory,
Emission Norms
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Premiumization
and Kit Value
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Premiumization

Indian Automobile market is likely to undergo premiumization of vehicles and UNO MINDA is Poised to strongly benefit.

Regulatory Norms

BS-VI expected implementation by 2020 will benefit UNO MINDA as it ready with products which are likely to see strong demand

1. LEDs replacing convention lamps

2. Advanced Driving Assistance System (ADAS)

3. Sensors ( BS VI) and Engine related Sensors in association with Sensata, US

4. Alloy Wheels

5. Infotainment System

6. Advance Filtration and Canisters

7. Telematics

8. On Board Diagnostics (OBD)

9. Wireless Chargers

10. Seat Belts

11. AMT

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Electronification
and Electric
Vehicles (EVs)
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Enhanced safety
Norms
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Electronification & EVs

Enhanced Safety

UNO MINDA has set up CREAT for Advanced research engineering and advanced technologies focused to capture

NCAP and Crash Test Norms are ensuring a swift migration to a safe car.

1. Air Bags & Seat belts

2. Reverse parking Sensors

3. Cockpit Electronics

4. Combi Braking Systems

5. Body Exterior & advanced Lighting Air Bags & Seat belts

6. Controllers and Sensors

7. EV technologies

16

Geographies

Operations across 5 Continents

Products

Over 20 products supplied to leading OEMs

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Manufacturing Facilities

56 Plants in Globally

Customers

Over 50 OEMs served in India and Overseas across 4W, 2/3W and Off Road segments

R&D Across the Globe

5 R&D Centres; 14 Design Centres

Intellectual Property

180+ Product patents filed/registered 192+ Design Registrations

Experience

Over 6 Decades in the Automotive Industry

Partnerships with Technology Leaders

14 Joint Ventures and Associations

17

1

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Strong R&D Capabilities

UNO MINDA has R&D centres across six locations globally enabling the Company to develop products for OEMs.

Strategic Manufacturing Locations

2

Strategically located in all automotive hubs in India

Global Presence with acquisition of Clarton Horn, Rinder and consolidation of PTMA & SAM Global

Long Standing Relationships with OEMs

3

MIL has focused on building multi-year relationships with OEMs resulting in a preferred supplier status

Strategic & technology Driven Alliances

4

MIL enjoys strong technological alliances with global leaders like Tokai Rika, Emer, Toyoda Gosei, Kyoraku, Torica, Kosei among others

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5
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Pervasive Distribution Network including Aftermarket

More than 700 business partners and 30,000 touch points ensure that its products reach the farthest corners of India

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Automotive
Switches
Alloy Wheel
Horns
Automotive
Air bags
Automotive
Filters
Lighting
• India's largest & World’s 2nd
largest Horns Player (post
acquisition of Clarton Horns)
• India’s Second Largest in Air
Bags for PVs
•
India’s Second largest player 1
in filtration
2 3
• India’s largest Switch Player,
diversified across the 2W, 4W
& CV segments
• India Largest in Alloy wheel for
PVs by capacity installed
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• India’s 3rd largest
Automotive Lighting Player,
post-acquisition of Rinder
Group.
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1

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Focused R&D to Ensure
technology readiness
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• Patents – 180 & Design registrations - 192

• 5 DSIR registered R&D Centres & 14 Design Centres

• Advanced Electronics Centre (CREAT) is being Set up to ensure self reliance & leadership in electronics components like ADAS, embedded electronics, EV technologies , telematics & Lighting

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2
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Manufacturing Excellence
& Capability Building
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• Strong Process Capabilities : ✓ State of the art SMT Lines & EMS facilities

• Proven expertise / capability to localize a product at good value proposition

• Strong delivery Capabilities and supply chain

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3
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Building Human Capital
for a Future Ready
Organization
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• Strong Leadership for Focussed Scalability, Growth & Profitability

• Strong Thrust on creating future leaders in association with Deloitte

• Leadership programs like Transfor-M and M – Leap launched to groom leaders for tomorrow

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20

We have partnered with global technology leaders in the respective product segments

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Geography-wise Breakup

India International

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18%
82%
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Channel-wise Breakup

OEM Replacement

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12%
88%
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Segment -wise Breakup

2Wheeler 4Wheeler

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56%
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Note: Data for FY18

22

Building Shareholder Value year on year…

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23%
21%
39% 19%
32%
Sales
Growth % 13%
ROCE %
FY16 FY17 FY18 FY16 FY17 FY18
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12%
11%
9%
EBITDA %
FY16 FY17 FY18
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Growth without stressing the Balance Sheet…

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0.8
1,450
1,392
993
1,059 0.4 0.4
714
Net Worth Debt:Equity
482 Net Fixed Assets
(Rs. In Crs.)
(Rs. In Crs)
FY16 FY17 FY18
FY16 FY17 FY18 FY16 FY17 FY18
Acquisitions: Joint Ventures:
Group
Clarton Horn,
Kosei, Onkyo, TTE, Consolidation
Rinder, iSys
Katolec, TG, Tokarika
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Note: Consolidated Data

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Business Overview

24

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Controllers
The evolution continues…
Speakers &
Infotainment
Hoses
2017-18 -
2015-16-
Fuel Caps
EMS Services
2010-14
Alloy Wheels DAPS
Blow Moulding
Aluminum Die
Sensors
Casting
2001-08- Air Filtration
Systems
Batteries
Automotive
Lighting
CNG/LPG Kits
1950-2000
Automotive
Horns Organic
Automotive Diversification
Switches
Joint Ventures &
Associations
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25

S. No		Product Lines	Company Name	Technologies	Technologies	Technologies	Technologies
				BS VI	PEV	BEV
			Approximate timelines	Apr-20	2022-25	2025-2030
1	Engine & Transmission Parts	Alternate Fuel Systems	METL	✓	X	X
2		Air Filtration Systems	Roki Minda	D	D	X
3		Canisters	Roki Minda	D	D	X
4		Brake Hoses	Minda TG	✓	✓	D
5		Fuel Hoses	Minda TG	✓	✓	X
6	Safety Parts	AlloyWheels	Minda Kosei	✓	✓	✓
7		Seat Belts	TRMN	✓	✓	✓
8
		Cameras	MFTL,Minda TTE	✓	✓	✓
9		EA Pad	MKL	✓	✓	✓
10		SteeringWheel with Airbags	TGMN	✓	✓	✓
11		Fuel Caps	TGMN	✓	✓	X
12	Body Parts	Lamps	MIL-LtgDiv	✓	D	D
13		Air Ducts & Washer Bottle	MKL	✓	✓	✓
							✓
14		Spoiler	MKL	✓	✓	✓
15		Body Sealings	TGMN	✓	✓	✓	D
16	Comfort & Convenience Parts	4WSwitches& HVAC	MRPL	✓	D	D
							X
17		Cigar Lighters & Chargers	MRPL	✓	✓	✓
18		Wheel Covers	MRPL	✓	✓	✓
19		Shifters	TRMN	✓	✓	X
20		Infotainment Systems (CD Tuners, Display Audio & Audio VideoNavigations)	Minda D Ten	✓	✓	✓
21		Speakers	Minda Onkyo	✓	✓	✓
22		Reverse Parking Aid Systems & Advanced Driver Assistance Products and Systems	Minda TTE	✓	✓	✓
23		Sensors	MIL-SACDiv	D	D	D
24		Actuators	MIL-SACDiv	✓	✓	✓
25		Controllers	MIL-SACDiv	✓	D	D
26		End to End Telematics & Connected CarSolutions	MIL	✓	✓	✓
27		Horns	MIL-AccousticsDiv	✓	D	D
28	Others	Batteries-LeadAcid	MIL-BatteryDiv	✓	D	D

Legend

✓ To continue as it is D To continue with changes X Obsolete Positively Impacted

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Handle Bar Assemblies
Horns
Sensors
Filter/ Canisters
Lamps
Battery
Switches.
Die Casting
Noise Suppresser Cap
Equalizer Assembly
Components
Switch business Horns business Light business Others
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6,801
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5,162

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4,572

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4,308
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Economy Executive Premium Scooter Up to 110 CC 110 -135 CC > 135 CC All scooters

2,750

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Moped

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All Mopeds

*Contribution from Group Companies which are not yet consolidated is not included in the Kit Value

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PWS Auto HVAC
Spoiler
Headlamp levelling
motor
Fuel cap
Electronic Horn
CNG Kit
LED lamps
Hoses
Alloy wheels
Electronic accelerator Batteries
pedal module
Switch business Horns business Light business Others
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75,879
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63,683
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Values in INR

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44,064

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32,906 19,893

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A B C D Up to Rs. 2.2 Lacs Rs. 2.21 - 4.5 Lacs Rs. 4.5 - 8.3 Lacs Rs.8.4 -16 Lacs

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3,378

E & MUV

E & MUV Tractor >Rs 16 lacs Off Road

*Contribution from Group Companies which are not yet consolidated is not included in the Kit Value

*Potential is calculated on basis that all products manufactured by the group is supplied in the vehicle.

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Revenue - FY18

EBITDA – FY18

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34.6%
24.2%
32.6% 35.2%
15.7%
10.7%
21.4%
25.5%
Switches Lighting Acoustics Others
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Note: Consolidated Data

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Switching Systems
4W 2W Bajaj
Auto
Others
35%
22%
MSIL
55%
Others
HCIL 41% TVS
4% 8%
TML
HMSI
5%
M&M TKML Hero 8%
6% 8% 4% Royal Enfield
4%
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Acoustics Systems

Lighting Systems

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Daimler Hyundai
9% 7% PSA
3%
Bajaj Auto
3%
TVS
3%
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Others Auto 9% 7% PSA
35% 3%
22% MSIL
Others
MSIL 29%
45% Bajaj Auto
55%
3%
Others
HCIL 41% TVS TVS
4% 8% 3%
Tata
M&M
TML Motors Others
HMSI 10%
5% 4% 75%
M&M TKML Hero 8% Royal
6% 8% 4% Royal Enfield Enfield Toyota Boshoku Auto7%
5%
4%
Maximize Customer Value
Blow Molding
Die Casting
Alloy Wheels (MKA)
optimum (MJ Casting) Others
product mix Hedged Suzuki 22% MSIL
to maximize across Motors… WABCO India16% 23%
content per segments
vehicle
M&M
4%
MSIL
strengthening our 90% M&M Honda
5% TVS Motors HMSI
focus on customer Crs India TKML
25% 59%
relationships 9% 27%
Suzuki
Motors
Note: Consolidated Data 14%
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Note: Consolidated Data

32

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Rs. In Crs
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Indian’s Largest Manufacturer
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2100 12.0% 13.0%
1600 11.0%
9.8%
9.4%
1100 9.0%
1,035 1,211 1,580
600 7.0%
FY16 FY17 FY18
Revenue EBIDTA Margin %
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• Market Share of ~65%

• Independent in-house R&D

• Exports to USA, France, Italy, Austria and others contributing ~6% to Switch sales in FY18

• Minda Rika, the 4W switching business has become a subsidiary from Q4FY18, with a revenue of ~Rs. 750 Crs

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End Use Segment Revenue EBIDTA Margin %
• 2/3 Wheeler & Off-road
• 4 Wheeler (Through subsidiary - Minda Rika)
Key Customers:
2W - HMSI, Bajaj, HMCL, TVS , REML & Yamaha
2W Switches Handle Bar
4W – MSIL, TKML, M&M, TML & HCIL
Assembly
Offroad Switches
Manufacturing Facilities
• Manesar
ASEAN Entities:
• Pune • Indonesia
•
Pantnagar • Vietnam
• Hosur
- FY16 Financials as per IGAAP; • Aurangabad 4W Switches HVAC Panels
FY17 & FY18 as per INDAS
Note: Consolidated Data
33
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Leading automotive lighting Systems

• Strong R&D capabilities with Design centre in Taiwan and Technical Arrangement with Korean Company

• Exports to Italy, Indonesia, France, Japan and others Contributing ~9% to Lighting Sales in FY18

• Access to R&D Base of Rinder in Spain

End Use Segment • 2/3 Wheeler, • 4Wheeler • Off-road Key Customers: Maruti Suzuki, Bajaj, TVS , REML , Renault

Manufacturing Facilities

• Pantnagar Rinder’s Facilities (India):

• • Sonepat • Chakan & Pimpri in Pune • Haridwar • Bahadurgargh • Chennai Rinder’s Facilities (Overseas): • Columbia • Design Centre in Spain

• • FY16 Financials as per IGAAP; FY17 & FY18 as per INDAS

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Rs. In Crs.
1500 9.9% 11.0%
9.1%
7.5% 9.0%
1000
7.0%
5.0%
500
3.0%
439 1,024 1,164
0 1.0%
FY16 FY17 ^ FY18
Revenue EBIDTA Margin %
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^ Consolidation of Rinder

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Note: Consolidated Data

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One of India’s Largest Players in Horns

• With 47% market share

• Strong in-house R&D capabilities - Developed technology with FIAMM, Italy

• Clarton Horn, a wholly owned subsidiary of MIL which has a Revenue of Rs. 397 Crs in FY18

End Use Segment

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Rs. In Crs
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800 11.0%
9.7%
9.5%
700 10.0%
600 9.0%
8.0%
500 8.0%
400 7.0%
520 659 717
300 6.0%
FY16 FY17 FY18
Revenue EBIDTA Margin %
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• 2/3 Wheeler,

• 4Wheeler,

• Off-road and Commercial Vehicles

Key Customers: Domestic – MSIL, Bajaj, TVS, Royal Enfield, Yamaha, M&M International – Daimler, Hyundai, Nissan, Mobis, Renault

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Manufacturing Facilities

• Clarton Horns Facilities:

• • Manesar • Pantnagar •• Spain Morocco • Indonesia

• • • FY16 Financials as per IGAAP; • Mexico FY17 & FY18 as per INDAS

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Note: Consolidated Data

35

Products

• India’s largest manufacturer of Alloy Wheels for 4Wheelers

• Other products

• Blow Molding • Fuel Caps

• • Dye Casting • Air Filtration System • Speakers & Infotainment • Hoses • Batteries

End Use Segment

• 2Wheelers, 4Wheelers, Commercial Vehicle

Key Customers:

MSIL, HMSI, TVS, Wabco, Mahindra, Toyota Kirloskar Motors & Renault Nissan

Manufacturing Facilities

• Hosur – Die Casting

• • Bawal – Filters, Hoses, Allow Wheels, Die Casting, Blow molding

• • Bangalore - Blow Molding, Filters • Manesar - Fuel Caps,

• • FY16 Financials as per IGAAP; FY17 & FY18 as per INDAS

• Chennai & Gujarat – Allow Wheels & Filters

• • Pantnagar( Minda Storage Battery)

Revenue* Rs. In Crs

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1200 13.6% 15.8%
15.0%
1000
150
9.2%
800 409 139 10.0%
600
362 129
400 710 5.0%
200 92 395
183
0 0.0%
FY16 FY17 FY18
Others Blow Molding
Alloy Wheels& Die Casting EBITDA Margins
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Alloy Wheels Speaker Hoses Fuel Cap
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Air Bags Blow Molding
Battery
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Note: Consolidated Data

36

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Over 30,000
Jammu and Kashmir: 8
Retail Points
Himachal Pradesh: 24
Punjab: 26
Uttarakhand: 6
Haryana: 41
Delhi: 33
Rajasthan: 51 UP: 62 Assam: 10
Bihar: 55
MP: 45 Jharkhand: 20
Gujarat: 48
Chhattisgarh: 14 West Bengal: 51
Orissa: 24
Maharashtra: 86
Telangana: 14
Goa: 1
Andhra Pradesh: 25
Karnataka: 45
Kerala: 23
Tamil Nadu: 52
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Maps not to scale. All data, information, and maps are provided "as is" without warranty or any representation of accuracy, timeliness or completeness

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FY18 % of total After
Product (Rs.Crs)
After Market Sales * Market Sales
Switches 159 32%
Lighting 160 32%
Horns 82 16%
Others 103 20%
Revenue (Rs.Crs)
504
453
438
372
297
FY14 FY15 FY16 FY17 FY18
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• • Financials as per INDAS

37

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Historical Financials

38

Rs. Cr	FY18	FY17	YoY %
Revenue from Operations(Net of Excise)	4,470.6	3,386.3	32%
Raw Material	2,763.2	2,116.4
Employee Cost	586.8	451.5
Other Expenses	586.8	444.4
EBITDA	533.8	374.0	43%
EBITDA Margin	11.9%	11.0%	90
Other Income	33.4	13.8
Depreciation	164.9	136.2
EBIT	402.3	251.6	60%
EBIT Margin	9.0%	7.4%	157
Finance Cost Exceptional Item	35.1	39.8 0.0
	38.2
Profit before Share of Profit/Loss of JVs and Tax	405.5	211.9	91%
PBT Margin	9.1%	6.3%	281
Tax	97.7	46.5
Profit before Share of Profit/Loss of JVs	307.8	165.4	86%
Share of Profit/Loss of JVs	23.1	19.7
PAT	330.9	185.2	79%
PAT attributable to:
- Owners of MIL PAT Margin %	310.2	165.2 4.9%	88%
	6.9%		206
- Non Controlling Interests Other Comprehensive Income	20.7	20.0 -2.5
	4.8
Total Comprehensive Income for MIL	315.0	162.7	94%
TCI Margin %	7.0%	4.8%	224
Total Comprehensive Income for Non Controlling Interests	21.2	19.3

39

Particulars	31st Mar, 2018	31st Mar, 2017
ASSETS Non-current assets Property, plant and equipment Capital work-in-progress Other intangible assets Intangible assets under development Goodwill on Consolidation Financial assets Investments Loans Other non current financial assets Deferred tax assets (net) Other tax assets Other non-current assets
	1,199	847
	192	117
	39	28
	19	0
	112	9
	155	111
	14	10
	17	8
	19	30
	31	15
	40	20
Sub-total - Non-Current Assets	1,838	1,196
Current assets Inventories Financial assets Trade receivables Cash and cash equivalents Bank balances other than Cash and Cash equivalents above Loans Other financial assets Other current assets
	418	238
	790	500
	126	358
	34	16
	2	1
	18	8
	141	82
Sub-total -Current Assets	1,527	1,202
TOTAL -ASSETS	3,365	2,398

Particulars	31st Mar, 2018	31st Mar, 2017
EQUITY AND LIABILITIES Equity Equity Share capital Share application money pending allotment Other equity Non-ControllingInterest
	17	16
	-	300
	1,374	744
	211	117
Sub-total - Shareholders' funds	1,603	1,176
LIABILITIES Non-current liabilities Financial liabilities Borrowings Other financial liabilities Provisions
	240	177
	51	54
	104	59
Sub-total - Non-current liabilities	395	290
Current liabilities Financial liabilities Borrowings Trade payables Other financial liabilities Other current liabilities Provisions Current tax liabilities(net)
	303	261
	798	486
	155	120
	92	48
	15	9
	4	7
Sub-total - Current liabilities	1,367	931
TOTAL - EQUITY AND LIABILITIES	3,365	2,398

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Rs.Crs
Revenue EBITDA & EBITDA Margin (%)
Consolidated [@]
4,471 600 16.0%
500 11.9%
3,386 11.0% 12.0%
400 9.4%
2,527
2,227 6.9%
300 8.0%
1,706
200 5.1%
4.0%
100
88 154 238 374 534
- 0.0%
FY14 FY15# FY16 FY17 FY18 FY14 FY15 FY16 FY17 FY18
Debt : Equity ROCE (%) 23%
0.9
21%
0.8
19%
0.6
12%
0.4 0.4
3%
FY14 FY15 FY16 FY17^ FY18 FY14 FY15 FY16 FY17^ FY18
Notes;
----- End of picture text -----*

• FY15 Sales inclusive of 15M Clarton Sales

• @ - Financials for FY17 & FY18 as per INDAS

• FY14 EBITDA is Adjusted for acquisition related one-time expenses

• ** FY14 debt increased on account of acquisition related debt

• ^ Excluding Money raised through QIP – Rs. 300 crores

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Rs. Crs
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Consolidated PAT
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Consolidated OCF
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285
256 258
165
156
146
111
68
42
7
FY14 FY15 FY16 FY17 FY18# FY14 FY15 FY16 FY17 FY18#
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*- Financials for FY17 & FY18 as

per INDAS # Excluding Exceptional Items

42

Dividend as % of Face Value

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The Company has
issued bonus shares in
the ratio of 2:1 in July
2018.
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140%
110%
70%
60%
30% 30% 30%
FY12 FY13 FY14 FY15 FY16 FY17 FY18
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The Total Dividend for FY18 is 140% of Face Value which corresponds to ₹ 2.80 per share including interim dividend of Rs. 1.20 per share

43

Board Of Directors

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Mr. Nirmal K Minda Chairman & Managing Director

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Mr. Anand K Minda

Mr. Satish Sekhri

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Ms. Renu Challu

Mr. Alok Dutta

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Mr. Sunil Bohra ED & Group CFO

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Mr. J.K. Menon Mr. Pradeep Tiwari CEO , Electrical CEO , Body & & Electronics Structure Domain Domain

Top Management Team

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Mr. Anand K Minda CEO , Battery & Aftermarket Business

Mr. Rajeev Kapoor Group Head Human Resources

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Mr. Ravi Mehra CEO , Interior, Controls & Safety Domain

Mr. Kundan K Jha CEO, Light Metal Technology Domain

Mr. Amit Jain CEO, Advanced electronics domain (Infotainment, telematics, CREAT)

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MIL'S SUBSIDIARIES, JOINT VENTURES AND ASSOCIATES
DOMESTIC SUBSIDIARIES OVERSEAS SUBSIDIARIES JOINT VENTURES & ASSOCIATES
MKL (68%) Sam Global (100%) METL (49%)
MIVCL (100%)
MJ Casting (100%) Riduco (50%)
(via LSTC)
PTMA (100%)
MACL (100%)
ROKI (49%)
PTMT (100%)
MDSL (100%)
Global Mazinkert (100%) TTE DAPS (50%)
MKAWL (70%)
LSTC (100%) MNGTL (26%)
Minda TG Rubber (51%)
Clarton Horn, Spain (100%)
Denso Ten Minda (50% )
RIPL (100%)
Clarton Horn, Morocco (100%)
KMAC (30%)
Clarton Horn, Mexico (100%)
MSBPL (100%)
Auto Component (49% )
CH, Signalakustic (100%)
YA Auto (51%)
Yogendra Engineering (49%)
iSYS RTS GmBH (80%)
MRPL (51%) TG Minda(48%)
Glossary:
MITIL (60%)
MIL: Minda Industries Limited LSTC: Light & Systems Technical Centre S.L. Spain
Minda Katolec (51%) MKL: Minda Kyoraku Limited ROKI: ROKI Minda Co. Pvt. Ltd.
MACL: Minda Auto Component Limited METL: Minda Emer Technologies Limited
MDSL: Minda Distribution and Services Limited Riduco: Rinder Riduco, S.A.S., Columbia
MKAWL: Minda Kosei Aluminum Wheel Private Limited MNGTL: Minda NextGen Tech Ltd
RIPL: Rinder India Private Limited MRPL: Mindarika Private Limited
MSBPL: Minda Storage Batteries Private Limited KMAC: Kosei Minda Aluminum Company Pvt Ltd
PTMA: PT Minda Asean Automotive, Indonesia TG Minda: Toyoda Gosei Minda India Private Limited
MIVCL: Minda Industries Vietnam Company Limited PTMT: PT Minda Trading, Indonesia
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45

For further information, please contact:

Company : Investor Relations Advisors : Minda Industries Ltd. Strategic Growth Advisors Pvt. Ltd. CIN : L74899DL1992PLC050333 CIN : U74140MH2010PTC204285 Mr. Tripurari Kumar Ms. Payal Dave / Mr. Jigar Kavaiya DGM Strategy & Finance + 91 98199 16314 / +91 99206 02034 tripurarik@mindagroup.com payal.dave@sgapl.net / jigar.kavaiya@sgapl.net www.unominda.com www.sgapl.net

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