UNO Minda Limited — Investor Presentation 2020

Jan 13, 2020

Mincla Industries Ltd.

THINK INSPIRE FLOURISH MINDA [ l llJl(•l

Ref. No: Z-IV/R-39/D-2/174 & 207 Date : 13/01/2020

BSE Ltd. Regd. Office: Floor - 25, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai-400 001. BSE Scrip: 532539	National Stock Exchange of India Ltd. Lisling Depll., Exchange PlaLa, Bandra Kurla Complex, Bandra (E), Mumbai - 400 051. NSE Scrip:MINDAIND

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

Dear Sirs,

Pursuant to the relevant prov1s1ons of SEBI (Listing Obligations and Disclosure Requirements), Regulations 2015, we would like to inform you that the officials of the Company will be participating in a Non-Deal Roadshow (NDR) to meet Investors. Following are the details:

Date 14thand 15thJanuary 2020 16thJanuary 2020		Organised by Place	Organised by Place
		Ambit Capital	Singapore Hong Kong

The copy of Investor Presentation - November 2019 which will be shared with Investors at the Non­ Deal Roadshow is attached herewith and is also available on website of the Company at www.unominda.com

No unpublished price sensitive information (UPSI) is intended to be discussed during the interactions.

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 Organizer/ Company.

Thanking you, For MINDA INDUSTRIES LTD. tr, o}s - $" -o Del Tarun Kumar Srivastava Company Secretary & Complia

Encl: Investor Presentation

MINDA INDUSTRIES LTD. (Corporate) Village Nawada Fatehpur, P.O. Sikanderpur Bodda, Manesar, Distt. Gurgaon, Haryana - 122004, INDIA. T: +91 124 2290427/28, 2290693/94/96 F: +91 124 2290676/95 Email: info@mindogroup.com, www.unominda.com Regd. Office: B-64/1, Wazirpur Industrial Area, Delhi-110052 CIN No for Corporate: L7 4899DL 1992PLC050333[-]

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Minda Industries Ltd Investor Presentation – November 2019

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 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

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Performance Highlights for the Quarter

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Favourable Factors Un-Favourable Factors
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• Improved profit contribution from Associates and • Volumes impacted due to depressed demand. JV

• Cost Management and Austerity measures kept overheads in check.

• Lower capacity utilization

• New Products have started contributing to the top line

• Benefit from corporate Tax reduction

Business Review

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Secured additional Business from MSIL new Model
Switches 01
HBA business is restructured with one 2W OEM
Got additional business in Renault and MSIL (S-Presso)
Lighting 02
Sales in line with OE, Maintained EBIDTA Y-o-Y
Domestic business maintained despite volume cuts by OEM
Acoustics 03
Clarton Horn volume is lower on account of tepid European market
Better operational efficiency & New orders from MSIL and M&M
Light Metal Technology 04
Highest rating ( Purple) accorded to MKA from M&M for QCDD performance
RPAS (TTE DAPS) has Turned around
Others 05
iSYS , Katolec and KPIT have contributed to top line growth.
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Consolidated Financial Highlights

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Revenue (Rs. Cr)
EBITDA (Rs. Cr)
-11% -16%
189
1,522 1,360 Adjusted growth 162
(9.7)% 56
(27) Cr HBA 15 74
restructuring
24
118
64
Q2 FY19 Q2 FY20 Q2 FY19 Q2 FY20
PBT Interest Depreciation
PAT (Rs. Cr) Margin (%)
12.44%
11.89%
-32%
73
49
4.78%
3.64%
Q2 FY19 Q2 FY20 Q2 FY19 Q2 FY20
EBITDA PAT
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• PAT = PAT ( MIL Share )

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Revenue Bridge – Q2 FY20 7 / 467/6
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1,523 48 (21)
(18) (53)
(121)
1.360
Q2 FY19 Lighting Others Acoustics Light Metal Switches Q2 FY20
Technology
Quarter 2
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(28)
95
(86)
2,955
24
(162)
2,799
H1 FY19 Lighting Others Acoustics Switches H1 FY20
H1
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Business wise Revenue Mix

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Revenue – Q2FY19
Revenue – Q2FY20
Others
Others
10%
14%
Switches
Switches
39%
36%
LMT
17%
LMT
15%
Acoustics
Acoustics
12%
12%
Lighting
Lighting
23%
22%
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Business wise EBITDA Mix

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EBITDA – Q2 FY19 EBITDA - Q2 FY20
Others Others
11% 10%
Switches
Switches
35%
38%
LMT
26% LMT
32%
Acoustics
Lighting Lighting
7%
Acoustics
18% 17%
7%
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Revenue Mix – Q2 FY20

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Geography-wise Breakup

Channel-wise Breakup Segment -wise Breakup

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India International OEM Replacement 2Wheeler 4Wheeler

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17%
83%
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10%
90%
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46%
54%
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Diversification across Categories and Geographies

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Merger Status Update

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Harita Seating Sytems Merger	Shareholder and creditor meeting is being convened by NCLT Delhi on November 19, 2019
Merger of 4 WOS	Shareholder and creditor meeting is being convened by NCLT Delhi in the second week of December 2019 and on 16th December by NCLT Mumbai
DELVIS Acquisition	Expected to be completed by December 2019

Consolidated Profit & Loss Statement

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Particulars(Rs. Cr)	Q2 FY20	Q2 FY19	YoY %	Q1 FY20	QoQ %	FY19
Revenue from Operations(Net of Excise)	1,359.58	1,521.72	-11%	1,439.75	-6%	5,908.09
Raw Material Employee Cost Other Expenses	814.71	937.62 195.28 199.48		872.16		3,622.48
	208.39			215.13		791.29
	174.86			180.26		769.14
EBITDA EBITDA Margin	161.62	189.34 12.44%	-15% (56)bps	172.2	-6% (61)bps	725.18
	11.89%			11.96%		12.27%
Other Income Depreciation	5.07	4.76 56.09		6.92		27.03
	73.95			71.2		234.38
EBIT EBIT Margin	92.74	138.01 9.07%	-33% (225)bps	107.92	-14% (67)bps	517.83
	6.82%			7.50%		8.76%
Finance Cost	23.84	15.05		23.81		63.15
Profit before Share of Profit/Loss of JVs and Tax PBT Margin	68.9	122.96 8.08%	-44% (301)bps	84.11	-18% (77)bps	454.68
	5.07%			5.84%		7.70%
Exceptional Item
Tax	17.16	38.73		27.68		134.07
Profit before Share of Profit/Loss of JVs	51.74	84.23	-39%	56.43	-8%	320.61
Share of Profit/Loss of JVs	6.35	4.55		5.9		18.87
Net profit/(loss) after share of profit/(loss) of associates / joint ventures (A) PAT Margin %	58.09	88.78 5.83%	-35% (156)bps	62.33	-7% (6)bps	339.48
	4.27%			4.33%		5.75%
PAT attributable to: - Owners of MIL - Non Controlling Interests Other Comprehensive Income		72.72 16.06 4.5244	-32%		-8%
	49.44			53.48		285.62
	8.65			8.85		53.86
	-2.66			-0.47		-0.68
Total Comprehensive Income for MIL TCI Margin %	47.07	77.09 5.07%	-39% (160)bps	52.97	-11% (22)Bps	284.91
	3.46%			3.68%		4.82%
Total Comprehensive Income for Non ControllingInterests	8.36	16.21		8.89		53.89

Consolidated Balance Sheet	Consolidated Balance Sheet	Consolidated Balance Sheet	13/6 13 / 46 13/46	13/6 13 / 46 13/46	13/6 13 / 46 13/46
ASSETS As at 30-Sep-2019 As at 31-Mar-2019 1. Non-current assets Property, Plant and Equipment 1,583.89 1,629.40 Capital work-in-progress 184.2 131.52 Right-of-use assets 122.54 0.00 Intangible Assets 79.34 66.84 Intangible Assets Under Development 25.32 18.61 Goodwill on Consolidation 164.92 164.92 Financial Assets (i) Investments 367.5 355.58 (ii) Loans 20.54 21.21 (iii) Others 8.66 9.66 Deferred tax assets (net) 7.42 0.00 Other Tax Assets 22.74 33.05 Other Non-current Assets 120 67.10 Sub-total - Non-Current Assets 2,707.07 2,497.89 2. Current Assets Inventories 536.63 560.97 Financial Assets (i) Trade receivables 776.81 899.22 (ii) Cash and cash equivalents 114.97 92.77 (iii) Bank balance other than those included in cash and cash equivalents 35.16 17.29 (iv) Loans 1.82 2.01 (v) Others Current Financial Assets 30.92 22.00 Other current assets 130.92 138.48 Sub-total - Current Assets 1,627.23 1,732.74 TOTAL - ASSETS 4,334.30 4,230.63			LIABILITIES As at 30-Sep-2019 As at 31-Mar-2019 EQUITY AND LIABILITIES Equity Equity share capital 52.44 52.44 Other Equity 1727.57 1,651.72 Equity attributable to owners of the Company 1780.01 1704.16 Non-ControllingInterest 268.61 266.71 Total Equity 2048.62 1,970.87 LIABILITIES 1. Non-current liabilities Financial Liabilities (i) Borrowings 625.95 606.34 (ii) Lease liabilities 101.21 0.00 (iii) Other financial liabilities 79.98 75.58 Provisions 116.71 99.64 Deferred tax liabilitynet - 0.62 Total- Non current liabilities 923.85 782.18 2. Current Liabilities Financial Liabilities (i) Borrowings 275.84 349.15 (ii) Lease liabilities 12.21 0.00 (iii) Trade payables (a) Total outstanding dues of micro & small enterprises 54.88 64.61 (b) Total outstanding dues of creditors other than micro & small enterprises 680.85 733.21 (iv) Other financial liabilities 226.69 231.15 Other current liabilities 87.53 77.90 Provisions 23.83 21.56 Total- Current liabilities 1361.83 1,477.59 TOTAL Equity and Liabilities 4,334.30 4,230.63
ASSETS	As at 30-Sep-2019	As at 31-Mar-2019	LIABILITIES	As at 30-Sep-2019	As at 31-Mar-2019
1. Non-current assets Property, Plant and Equipment Capital work-in-progress Right-of-use assets 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	1,583.89 184.2 122.54 79.34 25.32 164.92 367.5 20.54 8.66 7.42 22.74 120	1,629.40 131.52 0.00 66.84 18.61 164.92 355.58 21.21 9.66 0.00 33.05 67.10	EQUITY AND LIABILITIES Equity Equity share capital Other Equity	52.44 1727.57	52.44 1,651.72
			Equity attributable to owners of the Company	1780.01	1704.16
			Non-ControllingInterest	268.61	266.71
			Total Equity	2048.62	1,970.87
			LIABILITIES 1. Non-current liabilities Financial Liabilities (i) Borrowings (ii) Lease liabilities (iii) Other financial liabilities Provisions Deferred tax liabilitynet	625.95 101.21 79.98 116.71 -	606.34 0.00 75.58 99.64 0.62
			Total- Non current liabilities	923.85	782.18
Sub-total - Non-Current Assets	2,707.07	2,497.89
			2. Current Liabilities Financial Liabilities (i) Borrowings (ii) Lease liabilities (iii) Trade payables (a) Total outstanding dues of micro & small enterprises (b) Total outstanding dues of creditors other than micro & small enterprises (iv) Other financial liabilities Other current liabilities Provisions	275.84 12.21 54.88 680.85 226.69 87.53 23.83	349.15 0.00 64.61 733.21 231.15 77.90 21.56
2. Current Assets Inventories Financial Assets (i) Trade receivables (ii) Cash and cash equivalents (iii) Bank balance other than those included in cash and cash equivalents (iv) Loans (v) Others Current Financial Assets Other current assets	536.63 776.81 114.97 35.16 1.82 30.92 130.92	560.97 899.22 92.77 17.29 2.01 22.00 138.48
Sub-total - Current Assets	1,627.23	1,732.74	Total- Current liabilities	1361.83	1,477.59
TOTAL - ASSETS	4,334.30	4,230.63	TOTAL Equity and Liabilities	4,334.30	4,230.63

Consolidated Balance Sheet

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Consolidated Cash Flow Statement

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Particulars (Rs in Cr)	30-Sep-2019	30-Sep-2018
PBT	153.01	237.07
Adjustments
Operating profit before working capital changes	349.28	372.94
Changes in working capital	91.01	-200.56
Cash generated from operations	440.29	172.38
Direct taxes paid (net of refund)	-42.64	-61.32
Net Cash from Operating Activities	397.65	111.06
Net Cash from Investing Activities	-294.23	-420.63
Net Cash from Financing Activities	-81.84	273.81
Net Change in cash and cash equivalents	21.58	-35.76

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About Us

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Vision

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Leadership Team

BOARD OF DIRECTORS

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Mr. Nirmal K Minda Chairman & Managing Mr. Anand K Minda Director

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Dr. Chandan Chowdhary

Mr. Satish Sekhri

Mr. K K Jalan

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Ms. Paridhi Minda Mrs. Pravin Tripathi

Note: The above represents the Board of the flagship company, Minda Industries Limited

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TOP MANAGEMENT TEAM

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Mr. Anand K Minda ED & CEO – Aftermarket Domain

Mr. Sunil Bohra ED & Group CFO

Mr. Rajiv Kapoor ED & Group HR Head

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Mr. Ravi Mehra Mr. Kundan K Jha ED & CEO , Interior, ED & CEO, Light Controls & Safety Metal Technology Domain Domain

Mr. J.K. Menon Mr. Pradeep Tiwari ED & CEO , Electrical ED & CEO ,Group & Electronics Domain International Buss.

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Mr. Amit Jain ED & CEO – Adv. Electronics Domain & Group Chief Technology Officer

Mr. Naveesh Garg ED & Group Chief Strategy & Mktg. Officer

Mr. Rajeev Gandotra ED & CEO , Body & Structure Domain

Mr. Amit Gupta President, Group Business Excellence

Strategy for Growth

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

2. Advance Filtration and Canisters

3. On Board Diagnostics (OBD)

4. Seat Belts

Enhanced Safety

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

1. Air Bags & Seat belts

2. Reverse parking Sensors 3. Combi Braking Systems

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Enhanced safety
Norms
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Electronification
and Electric
Vehicles (EVs)
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Premiumization

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

1. LEDs replacing convention lamps

2. Advanced Driving Assistance System (ADAS)

3. Alloy Wheels

4. Infotainment System

5. Telematics

6. Wireless Chargers

7. AMT

Electronification & EVs

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

1. Cockpit Electronics

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

3. Controllers and Sensors

4. EV technologies

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Mobility Change Drivers – Global and India 19 / 4619/6
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GLOBAL INDIA
COMFORT & SAFETY &
CONNECTED AUTONOMOUS CONNECTED
CONVINIENCE SECURITY
GREEN
SHARED MOBILITY ELECTRIC SHARED MOBILITY REGULATIONS TECHNOLOGY
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Change Drivers - India

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COMFORT & SAFETY & GREEN
CONNECTED CONVINIENCE SECURITY SHARED MOBILITY REGULATIONS TECHNOLOGY
Fleet Management, Larger Displays, Collision Warning & Car Sharing, Bike BS-6 : Emission Hybrid Electric Vehicle
Apps, UBI Infotainment Avoidance Sharing, On Demand Standards- Bharat Stage
Ride VI ( BS-6)
Telematics, FOTA, eCall Fully Automatic Emergency Braking, Cost & ownership Model AIS 140, ITS Battery Electric Vehicle
Temprature Control, Lane Keeping, Blindspot
TPMS, HUD
V2X, V2I, Gateway, Around View Monitor, Airbag, ESP Durable components & Pedestrian Protection, Charing Infrastructure
Smart Home Ultrasonic Sensor faster replacement Collision Protection
ABS
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Future Technology Areas for UNOMINDA

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Body, Exterior and Safety Technologies	Body, Exterior and Safety Technologies	Body, Exterior and Safety Technologies	Cockpit Electronics and Advanced Technologies	Cockpit Electronics and Advanced Technologies	Cockpit Electronics and Advanced Technologies
Controllers	Lighting	Advanced Driver Assist	Infotainment & Connectivity	Telematics & IOT	Electric Vehicle Technologies
Distributed & Integrated Body	Digital Lamps	Parking Systems	Android Infotainment	Smart City Solutions	Power Management Controllers
Controllers	Adaptive Front Lighting	Collision Avoidance	Deep Thinking &	3G/4G TCU	Brushless Motor
Multi Function Controllers	Sequential Lighting	Around View	Interactive Voice Rear Seat	Flash Over the Air	Controllers DC DC Converters
Wireless Chargers	Ambient Lighting	Aug reality HUD	Entertainment	Smart Antenna	On Board Chargers
		Smart city Brake Support System		Data Analytics	Battery Packs

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Group Technical Centre Overview

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• First Flagship Technical Center of UNOMINDA Group

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Group
• Located in Pune, Phase II in Gurgaon
• 170+ Engineers
• Center of Competency for Hardware & Software
• Electronics Lab functional since Oct 2018
CREAT: Manpower Mix
Software Hardware, Software Center of
44% AssuranceProduct & Test Excellence
3%
• Hardware & Software for existing
Material Sciences, Optics, Surface
Tech Sales products
Coating, EMI/EMC
/ NPC • New Products end to end
Mechanical
2%
11%
Adminstrati…
Hardware
12%
Captive & New Products Captive
Design
16%
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Pioneer in localization: Through JVs & Associations

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

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Panel & Control Switches Speakers
Seatbelts Steering Wheels with Air Bags Acquisition Embedded Systems
Gear Shifters Body Sealing
Fuel Caps
Hoses
Acquisition 2W Light
Blow Molding Components TLA for Sensors
Raw Material Trading Acquisition Horns
1995 2010 2011 2012 2013 2016 2017 2018 2019
Car Infotainment Systems
Air Filters, Canisters Printed Circuit Boards(PCB) Acquisition Telematics
Box Build Assemblies Hardware
Alloy Wheels Air Brakes
Acquisition Seating
Driving Assistance
Systems ( under
Systems & Products
Approval)
CNG & LPG Kits (DAPS)
TLA for Automotive Lamps
Acquisition Lighting
Solutions (under Process)
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Shareholding Pattern

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Corp Bodies / Corp Bodies /
Others Others
Retail Retail
5.2% 5.1%
8.5% 7.3%
Insitutions
16.8%
Institutions
15.5%
Mar ‘19 Sep ‘19
Promoters
Promoters
70.8%
70.8%
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Strong Balance Sheet:

Building Shareholder Value year on year…

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Sales Sales Growth
39%
32%
32%
3,386 4,471 5,908
FY17 FY18 FY19
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ROCE Adjusted ROCE EBIDTA EBIDTA %
12%
21% 12%
11%
20%
20%
19%
19% 19%
374 534 725
FY17 FY18 FY19 FY17 FY18 FY19
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Growth without stressing the Balance Sheet…

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Net Worth ROE Net Fixed Assets FATR Net debt to Equity
0.50
3.97
21.5%
20.9%
3.66 0.30
3.58
18.5% 0.12
1,059 1,392 1,704 993 1,450 1,846
FY17 FY18 FY19 FY17 FY18 FY19 FY17 FY18 FY19
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Note: Consolidated Data, * Adjusted ROCE= capital employed less non current Investments in JV and Associates

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Business Overview

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Advent of EVs: Our Hedged Product Portfolio

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Technologies
S. No Product Lines Company Name
BS VI PEV BEV
Approximate timelines Revenue March 19 Apr-20 2022-25 2025-2030
1 Alternate Fuel Systems METL 41  X X
2 Engine & Air Filtration Systems Roki Minda D D X
400
3 Transmission Canisters Roki Minda D D X
4 Parts Brake Hoses Minda TG 92   D
5 Fuel Hoses Minda TG 92   X
6 Alloy Wheels Minda Kosei 600   
7 Cameras MFTL, Minda TTE 16   
8 Safety Parts EA Pad MKL 18   
9 Steering Wheel with Airbags TGMN 496   
10 Fuel Caps MIL 32   X
11 Lamps MIL-Ltg Div 465  D D
12 Air Ducts & Washer Bottle MKL 158   
13 Body Parts Spoiler MKL 158    Legend
14 Body Sealings TGMN 496     To continue as it is
15 4W Switches & HVAC MRPL 801  D D
16 Cigar Lighters & Chargers MRPL 801    D To continue with changes
17 Wheel Covers MRPL 801    X Obsolete
Infotainment Systems Positively Impacted
18 (CD Tuners, Display Audio & Audio Minda D Ten   
Video Navigations) 98
19 Speakers Minda Onkyo 21   
Comfort &
Reverse Parking Aid Systems &
Convenience
20 Advanced Driver Assistance Minda TTE 16   
Parts
Products and Systems
21 Sensors MIL-SAC Div 131 D D D
22 Actuators MIL-SAC Div 131   
23 Controllers MIL-SAC Div 131  D D
End to End Telematics &
24 MIL Controllers 25   
Connected Car Solutions
25 Horns MIL + CH 708  D D
26 Others Batteries-Lead Acid MIL-Battery Div 84  D D
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Group product portfolio – 2 Wheeler 28 / 4628/6
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Horns Handle Bar Assemblies Sensors
Combined Breaking system
Filter/ Canisters
Lamps
Battery Switches
2 W Alloy Wheel
Noise Suppresser Cap Equalizer Assembly Die Casting Brake Hoses
Components
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Kit Value* – 2 Wheelers

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6,801 6,966
5,766
5,209 5,162
4,664
4,572
4,308
3,580
2,750
2018 2019 2018 2019 2018 2019 2018 2019 2018 2019
Economy Executive Premium Scooter Moped
Up to 110 CC 110 -135 CC > 135 CC All scooters All Mopeds
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*Contribution from Group Companies which are not yet consolidated is not included in the Kit Value

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Group product portfolio – 4 Wheeler 30 / 4630/6
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Air Duct
PWS Controllers Auto HVAC
Headlamp levelling
Spoiler
motor
Fuel cap
Horns
CNG Kit
Speakers
RPAS
Batteries
Alloy Wheel
Hoses Steering Wheels with Air bags Electronic accelerator Air Filter LED lamps
pedal module
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Kit Value* – 4 Wheeler PVs & Tractor

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75,879 80,934
68,801
63,683
Values in INR
50,452
43,596 44,064
32,906
25,924
19,893
3,378
3,450
2018 2019 2018 2019 2018 2019 2018 2019 2018 2019 2018 2019
A B C D E & MUV Tractor
Up to Rs. 2.2 Lacs Rs. 2.21 - 4.5 Lacs Rs. 4.5 - 8.3 Lacs Rs.8.4 -16 Lacs >Rs 16 lacs Off Road
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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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MSIL 23%

Customer led and Customer Oriented: Customer Mix ( FY 2019)

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Switching Systems Lighting Systems Acoustics Systems
4W 2W Bajaj BMW
MSIL Auto Others 13%
42% 34% 29%
VW
Others MSIL
32% Tata 32% 13%
Others Motors Others
40% 6% 52% HYUNDAI
TVS
9%
11%
Renault M&M
TGMI TKML HMSI 9% 12%
4% TML M&M 10% Yamaha3% Royal Enfield 9% Toyota DAIMLER8%
6% 6% 3% 12% AUDI
5%
Maximize Customer Value
Die Casting Blow Molding
Alloy Wheels (MKA)
(MJ Casting) Others
optimum
product mix Hedged M&M 20%
to maximize across 22% WABCO India18%
content per segments Mahindra MSIL
vehicle
3% 23%
Honda
strengthening our 9%
focus on customer MSIL HMSI
relationships 78% 55% TKML
TVS Motors Suzuki 24%
27% Motors
7%
Note: Consolidated Data
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Switching Systems

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Rs. In Crs
12.6%
2600 11.9% 13.0%
2100
11.0%
9.8%
1600
9.0%
1100
1,211 1,475 2,237
600 7.0%
FY17 FY18 FY19
Revenue EBIDTA Margin %
HMSI, Bajaj, HMCL, TVS , REML & Yamaha
2W Switches Handle Bar
Assembly
Off road Switches
Manufacturing Facilities
2W switch: 4W switch:
• Manesar ASEAN(2W) • Indonesia: • Manesar
• Pune • Vietnam • Pune
• Pantnagar • Chennai
• Hosur • Gujarat 4W Switches HVAC Panels
• Aurangabad
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Indian’s Largest Manufacturer

• World leader in 2W Switches by Volume.

• 2W switches Market Share in India ~65%

• Independent in-house R&D

• Exports to USA, France, Italy, Austria and others contributing ~6% to Switch sales in FY19

• Minda Rika ( 4W SW):Market share India 55%

End User Segment

• 2/3 Wheeler & Off-road

• 4 Wheeler (Minda Rika)

• Key Customers:

• 2W /3W/OR- HMSI, Bajaj, HMCL, TVS , REML & Yamaha

• 4W – MSIL, TKML, M&M, TML & HCIL

Note: Consolidated Data

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Lighting Systems

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 FY19

• R&D Base for 2W in Spain and 4 W in India

End Use Segment

• 2/3 Wheeler,

• 4Wheeler

• Off-road

• Key Customers:

• 4W: Maruti Suzuki, Bajaj, TVS , REML , Renault

• 2W: Bajaj, RE, Triumph, KTM

Manufacturing Facilities

• 2 W Facilities (India):

• Pantnagar

• • Sonepat • Chakan & Pimpriin Pune • Haridwar • Bahadurgargh • Chennai 2 W Facilities (Overseas):

• Chakan & Pimpriin Pune

• • Bahadurgargh

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Rs. In Crs.
1500 9.8% 10.2% 11.0%
9.1%
9.0%
1000
7.0%
5.0%
500
3.0%
1,024 1,159 1,293
0 1.0%
FY17 ^ FY18 FY19
Revenue EBIDTA Margin %
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^ Consolidation of Rinder

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• Columbia

• Design Centre in Spain

Note: Consolidated Data

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Acoustic Systems

One of India’s Largest Players in Horns

• With 47% market share in India

• Strong in-house R&D capabilities

• Clarton Horn, a wholly owned subsidiary of MIL is technology leader in Horns and No 2 in market share globally.

End Use Segment

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Rs. In Crs
800 11.0%
9.4%
9.7%
700 10.0%
600 9.0%
8.1%
500 8.0%
400 7.0%
659 671 717
300 6.0%
FY17 FY18 FY19
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

MIL Facilities Clarton Horns Facilities: • Manesar • Spain • Pantnagar • Morocco • Indonesia • Mexico

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Note: Consolidated Data
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Light Metal Technology

• Products

• Alloy Wheel • Market Leader in PV segment with 45% market share ( installation ) in India

• Kosei - Strong Technology Leader as JV partner

• • Moulding and Tooling Capability for high end wheels Aluminium Die Casting

• Manufacturer of performance and non performance parts

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End Use Segment
Key Customers: Capacity
• Alloy Wheel • Alloy Wheel
MSIL, Mahindra, Toyota, Renault 2.7 Mn Wheels p.a.
Nissan and Honda • Aluminium Die Casting
• Aluminium Die Casting 1.32 lacs ton p.a.
HSMI, TVS, Wabco
Manufacturing Facilities
Aluminium Die Casting
Alloy Wheel
• Bawal • Hosur
• Gujarat • Bawal
• Chennai ( JV Plant )
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Revenue Rs. In Crs
1000 23.4% 24.5%
23.2%
800 23.5%
22.5%
600 21.5%
21.5%
400
20.5%
200
19.5%
395 585 908
0 18.5%
FY17 FY18 FY19
Alloy Wheels& Die Casting EBITDA Margins
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Aluminium Die casting
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Alloy Wheels
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Note: Consolidated Data

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Other Products

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Revenue Rs. In Crs
800 12.0%
10%
9% 10.0%
600 8%
8.0%
609
400 532 6.0%
409
4.0%
200
2.0%
114 126 145
0 0.0%
FY17 FY18 FY19
Blow Moulding Others EBITDA Margins
Speaker Hoses Air Bags Fuel Cap
Manufacturing Facilities
• Bawal – Filters, Hoses, Blow molding
• Bangalore -Blow Molding, Filters
• Manesar - Fuel Caps,
• Chennai & Gujarat –Filters
• Pantnagar( Minda Storage Battery) Controllers Blow Molding Battery
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Products
Other products
• Blow Molding • Sensors and Controllers
• Speakers & Infotainment
• Fuel Caps
• Air Filtration System
• Hoses
• Batteries
End Use Segment
• 2Wheelers, 4Wheelers, Commercial Vehicle
Key Customers:
MSIL, HMSI, TVS, Mahindra, Toyota & Renault Nissan
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Note: Consolidated Data
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MDSL : Strong Presence in Replacement Market

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Over 50,000 Product(Rs.Crs) FY19 % of total After
Jammu and Kashmir: 8 After Market Sales Market Sales
Retail Points
Himachal Pradesh: 24 Switches 179 31%
Punjab: 26
Uttarakhand: 6
Lighting 181 32%
Haryana: 41 Delhi: 33
Rajasthan: 51 UP: 62 Assam: 10 Horns 81 14%
Bihar: 55
Gujarat: 48 MP: 45 Jharkhand: 20 Others 132 23%
Chhattisgarh: 14 West Bengal: 51
Orissa: 24 Revenue (Rs.Crs)
Maharashtra: 86
Telangana: 14
573
Goa: 1 504
Andhra Pradesh: 25
438 453
Karnataka: 45
372
Kerala: 23
Tamil Nadu: 52
Maps not to scale. All data, information, and maps are provided "as is" without
warranty or any representation of accuracy, timeliness or completeness
FY15 FY16 FY17 FY18 FY19
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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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Historical Financials

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Consolidated Profit & Loss Statement

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Particulars (Rs. Cr)	FY19	FY18	YoY %
Revenue from Operations (Net of Excise)	5,908.09	4,470.56	32%
Raw Material Employee Cost Other Expenses	3,622.48 791.29 767.35	2,763.18 586.8 586.76
EBITDA EBITDA Margin	726.97 12.30%	533.82 11.94%	36% 45bps
Other Income Depreciation	25.24 234.38	33.35 164.85
EBIT EBIT Margin	517.83 8.76%	402.32 9.00%	29% 8bps
Finance Cost	63.15	35.09
Profit before Share of Profit/Loss of JVs and Tax PBT Margin	454.68 7.70%	367.23 8.21%	24% -20bps
Exceptional Item		38.24
Tax	134.07	97.69
Profit before Share of Profit/Loss of JVs	320.61	307.78	4%
Share of Profit/Loss of JVs	18.87	23.08
Net profit/(loss) after share of profit/(loss) of associates / joint ventures (A) PAT Margin %	339.48 5.75%	330.86 7.40%	3% -40bps
PAT attributable to: - Owners of MIL - Non Controlling Interests Other Comprehensive Income	285.62 53.86 -0.68	310.19 20.67 5.31	-8%
Total Comprehensive Income for MIL TCI Margin %	284.91 4.82%	314.99 7.05%	-10% -73bps
Total Comprehensive Income for Non Controlling Interests	53.89	21.18

Consolidated Balance Sheet

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ASSETS 31st March 2019 31st March 2018
Liabilities 31st March 2019 31st March 2018
1. Non-current assets EQUITY AND LIABILITIES
Equity
Property, Plant and Equipment 1,629.40 1,199.39
Equity share capital 52.44 17.41
Capital work-in-progress 131.52 192.11
Other Equity 1651.72 1,374.28
Intangible Assets 66.84 39.32
Equity attributable to owners of the Company 1704.16 1,391.69
Intangible Assets Under Development 18.61 18.68 Non-Controlling Interest 266.71 211.01
Goodwill on Consolidation 164.92 111.79
Total Equity 1970.87 1,602.70
Financial Assets
LIABILITIES
(i) Investments 355.58 155.23 1. Non-current liabilities
(ii) Loans 21.21 14.49 Financial Liabilities
(iii) Others 9.66 16.79 (i) Borrowings 606.34 240.04
Deferred tax assets (net) 0 18.61 (ii) Other financial liabilities 75.58 51.46
Other Tax Assets 33.05 31.18 Provisions 99.64 103.78
Other Non-current Assets 67.1 40.43 Deferred tax liability 0.62
Sub-total - Non-Current Assets 2,497.89 1,838.03 Total- Non current liabilities 782.18 395.28
2. Current Liabilities
2. Current Assets
Financial Liabilities
Inventories 560.97 417.52 (i) Borrowings 349.15 302.81
Financial Assets (ii) Trade payables
(i) Trade receivables 899.22 789.73 (a) Total outstanding dues of micro & small
64.61 6.08
(ii) Cash and cash equivalents 92.77 125.56 enterprises
(iii) Bank balance other than those included in cash 17.29 33.91 (b) Total outstanding dues of crditors other than 733.21 792.33
and cash equivalents micro & small enterprises
(iv) Loans 2.01 1.59 (iii) Other financial liabilities 231.15 155.41
Other current liabilities 77.9 91.84
(v) Others Current Financial Assets 22 18.04
Provisions 21.56 14.83
Other current assets 138.48 140.74
Current tax liabilities (net) 3.83
Sub-total - Current Assets 1,732.74 1,527.08 Total- Current liabilities 1477.58 1,367.13
TOTAL - ASSETS 4,230.63 3,365.11
TOTAL Equity and Liabilities 4,230.63 3,365.11
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Improving Dividend Profile

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12.7%
10.9%
10.4%
165 256 286
FY17 FY18 FY19

PAT Dividend Payout Ratio
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• Dividend payout ratio after considering dividend distribution tax

Awards & Recognitions

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Minda Industries Ltd won the “Most Promising Company of the Year”at the Indian Business Leader Awards

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Mr. N K Minda conferred with EY Entrepreneur of the Year for the year 2018 ( Manufacturing Category)

Awards & Recognitions

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CERTIFICATIONS

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Confidential

RECENT AWARDS: 2018-19

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“Special Support “Delivery Management Award” “Supplier Business
M J Casting Ltd.
Award” Capability Award”
“Comprehensive “ Best QCDDM Performance”
Excellence” – UNO MIL – Switch Division Roki Minda Co. Pvt. Ltd. MIL – Lighting Division
MINDA
“Overall Performance” –
MKL & M DTEN
“Quality Excellence”
MTG & Roki Minda
“National IP Award” in “Quality Excellence” “Exceptional Support
“VA- VE”- MTG
category Top Indian MIL – Lighting Award Quality”
Company for Designs MIL – Lighting Award
Minda Industries Ltd.
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MIL Holding Structure

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Contact Us

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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 GM Finance +91 99206 02034 tripurarik@mindagroup.com jigar.kavaiya@sgapl.net www.unominda.com www.sgapl.net