UNO Minda Limited — Investor Presentation 2019

Feb 6, 2019

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Minda Industries Ltd. Result Update Presentation – Q3FY19

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Safe Harbor

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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 not be all inclusive and not contain all the that consider material. may may of information you may 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

Financial Highlights

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4/12
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Revenue (Rs. Cr)

EBITDA (Rs. Cr)

PAT* (Rs. Cr)

Margin (%)

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Quarter 3
+39% +43% +31% EBITDA
PAT
1,470 180 79 12.0% 12.3%
61
1,056 126
5.8%
5.4%
Q3 FY18 Q3 FY19 Q3 FY18 Q3 FY19 Q3 FY18 Q3 FY19 Q3 FY18 Q3 FY19
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9M +43% +48% +41%
EBITDA
540
4422
PAT
244 12.2%
11.8%
3100 364
173
5.6% 5.5%
9M FY18 9M FY19 9M FY18 9M FY19 9M FY18 9M FY19 9M FY18 9M FY19
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• PAT = Net profit/(loss) before share of profit/(loss) of associates / joint ventures/minority

Revenue Bridge

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5/12
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1,470
110
7
59
24 8
27
179
1,056
Q3 FY18 MRPL (SW) MIL Standalone MKAWL (OTH) MJCL (OTH) Rinder(L) MDSL MITIL + OTH Q3 FY19
( SW + L)
4,422
199
61
115
49
105
182
611
3,100
9M FY18 MRPL (SW) MIL Standalone MKAWL (OTH) MJCL (OTH) Rinder(L) MDSL MITIL + OTH 9M FY19
( SW + L)
Quarter 3
9M
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Improving Dividend Profile

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6/12
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Dividend as % of Face Value (Adjusted for Bonus)

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47% Interim
Dividend
37%
23% 23%
20%
10% 10%
FY13 FY14 FY15 FY16 FY17 FY18 FY19
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Board of Directors has declared an Interim dividend of Rs. 0.45 per share (Post Bonus) v/s Rs. 0.40 of Interim Dividend per share in FY 17-18

Q3 Division Wise Revenue & EBITDA Mix

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Q3 FY18
27.2% 29.5%
15.5%
27.8%
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Revenue
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EBITDA Q3 FY18
23.7%
45.3%
19.6%
11.4%
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7/12
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Q3 FY19
36.3%
29.3%
Switches
11.5% Lighting
22.9%
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Q3 FY19
33.3%
40.9%
18.8%
7.0%
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Acoustics
Others
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9M Division Wise Revenue & EBITDA Mix

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Revenue 9M FY18 9M FY19
26.3%
30.8% 27.5% 39.0%
12.0%
15.6%
27.3% 21.5%
EBITDA 9M FY18 9M FY19
24.9%
36.8%
38.7%
44.6%
20.2%
7.4%
10.3% 17.1%
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9M FY19
27.5%
39.0%
Switches
12.0%
Lighting
21.5%
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Acoustics
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Others
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Revenue Mix – Q3 & 9M FY19

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Geography-wise Breakup
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Channel-wise Breakup
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Quarter 3
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13%
87%
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15%
85%
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OEM Replacement

India International

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16%
84%
9M
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11%
89%
OEM Replacement
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India International

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9/12
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Segment -wise Breakup
50%
50%
2/3 W 4 W
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47%
53%
2/3 W 4 W
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10/12

Consolidated Profit & Loss Statement

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Particulars(Rs. Cr)	Q3 FY19	Q3 FY18	YoY %	Q2 FY19	QoQ %	9M FY19	9M FY18	YoY %
Revenue from Operations(Net of Excise)	1,470.1	1,056.2	39%	1521.7	-3%	4421.6	3099.7	43%
Raw Material Employee Cost Other Expenses	903.4	647.3 141.4 141.1		937.6		2723.5	1917.9 410.3 407.2
	204.9			195.3		588.8
	181.4			199.5		569.5
EBITDA EBITDA Margin	180.4	126.4 11.97%	43%	189.3	-5%	539.8	364.3 11.75%	48%
	12.27%			12.44%		12.21%
Other Income Depreciation	2.7	7.7 42.0		4.8		14.0	21.0 116.0
	60.8			56.1		166.2
EBIT EBIT Margin	122.3	92.1 8.72%	33%	138.0	-11%	387.6	269.3 8.69%	44%
	8.32%			9.07%		8.77%
Finance Cost	14.5	7.0		15.1		42.7	21.2
Profit before Share of Profit/Loss of JVs and Tax PBT Margin	107.8 7.33%	85.1 8.05%	27%	123.0 8.08%	-12%	344.9 7.80%	248.1 8.00%	39%
Tax	28.3	24.3		38.7		100.7	75.2
Profit before Share of Profit/Loss of JVs	79.4	60.8	31%	84.2	-6%	244.2	172.9	41%
Share of Profit/Loss of JVs	1.9	5.3		4.6		10.5	18.0
Net profit/(loss) after share of profit/(loss) of associates / joint ventures (A) PAT Margin %	81.3 5.53%	66.1 6.26%	23%	88.8 5.83%	-8%	254.7 5.76%	190.9 6.16%	33%
PAT attributable to:
- Owners of MIL	69.4	59.5	17%	72.7	-5%	212.1	174.7	21%
- Non Controlling Interests Other Comprehensive Income	12.0	6.6 -2.8		16.1		42.6	16.2 -1.0
	-3.5			4.4		3.3
Total Comprehensive Income for MIL TCI Margin %	65.8	56.7 5.37%	16%	77.1	-15%	215.4	173.8 5.61%	24%
	4.48%			5.07%		4.87%
Total Comprehensive Income for Non ControllingInterests	11.9	6.6		16.2		42.7	16.2

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Consolidated Balance Sheet (30[th] September 2018)

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 Other current 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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For further information, please contact:

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