UNO Minda Limited — Investor Presentation 2021

Feb 4, 2021

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Minda Industries Ltd Investor Presentation – February 2021

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Safe Harbor

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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Macro Trends in Automotive

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Group Products – For EV’s

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EV Products Under Development

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Quarterly Update Presentation

Performance Highlights for the Q3 2021

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Favourable Factors Favourable Demand Environment Commercial Sales from 2 W Alloys plant

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Un-Favourable Factors Rise in Commodity prices Delay in getting approvals for merger of Harita Seatings

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Consolidated Financial Highlights

Revenue (Rs. Cr)

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36%
1,802
1,327
Q3 FY20 Q3 FY21
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PAT* (Rs. Cr)

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142%
108
45
Q3 FY20 Q3 FY21
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EBITDA (Rs. Cr)

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62%
264
163
91
19
75
22 154
67
Q3 FY20 Q3 FY21
PBT Interest Depreciation
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Margin (%)

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14.67%
12.31%
6.02%
3.37%
Q3 FY20 Q3 FY21
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**EBITDA PAT ***

• PAT = PAT ( MIL Share )

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Revenue Bridge

Rs. Crs

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1,802
30
54
85
122
1,327 184
Q3 FY20 Switch Lighting Light Metal Others Acoustics Q3 FY21
Quarter 3
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4,126
-232
-48
-109 26 -74 3,684
9MFY20 Switch Lighting Light Metal Others Acoustics 9MFY21
Nine Months
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Business wise Revenue Mix

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Revenue – Q3FY20

Revenue – Q3FY21

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Others Others
17% 16%
Switches
Switches
34%
35%
LMT
LMT
15%
14%
Acoustics
Acoustics
10%
12%
Lighting Lighting
24% 24%
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Business Review

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2W Switch: Acquired new customer John Deere
4W: New orders received for Steering Wheel Switch,
Switches 01 second gear switch driver side switch, Power window
,Sunroof Switches, Audio and panel switches from Indian
OEMs
Lighting 02 2W Lighting: LED light order from Yamaha
Acoustics 03 Clarton Horn received new orders Ford , KIA, FCA and Hyundai
2W alloy wheel 3 [rd] Line also got operational
Light Metal Technology 04
Commercial sales started and New Orders received from OEM
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Others 05 Sensor Business - Started Manufacturing and supply of Wheel speed Sensor for Korea MKL- Received new Business from MSIL

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Revenue Mix – Q3 FY21

Geography-wise Breakup

India International

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17%
83%
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Channel-wise Breakup

OEM Replacement

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14%
86%
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Segment -wise Breakup

2Wheeler 4Wheeler

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52%
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Diversification across Categories and Geographies

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Group Consolidation update

Board has approved dilution of 1.10% stake in Minda TG Rubber India Private Limited (“MTG”) by issuance of shares to Toyoda Gosei (TG), Japan JV partner

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As a corporate restructuring, MTG will merge with Toyoda Gosei Minda India Private Limited (TGMIN). The Board has already, at its previous Board meeting held on 10[th] November, 2020, approved the said merger of MTG with TGMIN

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• It was agreed that post merger of MTG with TGMIN, the shareholding of the JV Partner in TGMIN would be 50.10% . In

• order to enable the JV partner to have 50.10% stake post merger it was earlier considered that the Company would sell certain shares of MTG to TG. However, now it is proposed that MTG will issue new equity shares to TG only on Preferential allotment basis and the Company will not sell any of its shares.

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Strategic Business Update

NCLT, Delhi has approved the merger however, we are awaiting copy of the final orders

Harita Seating Sytems Merger NCLT, Chennai - Awaiting date for announcement of final decision; the hearings have been completed

Acquisition-cum- Received approval of merger scheme from SEBI and Stock Exchanges Merger of Minda Application filling to NCLT in process iConnect

Capex for Green field plan for Blow moulded parts at new location to enhance overall capacity and setting up in house paint shop facility

MKL Capex

Moving existing facility to Bangalore for further expansion

Consolidated Profit & Loss Statement

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Particulars(Rs. Cr)	Q3 FY21	Q3 FY20	YoY%	Q2 FY21	QoQ %	9MFY21	9MFY20	YoY%
Revenue from Operations(Net of Excise)	1,801.62	1,326.85	36%	1,465.04	23%	3,683.77	4,126.17	-11%
Raw Material Employee Cost Other Expenses	1,078.95	795.36 208.88 159.24		881.33		2,201.99	2,482.23
	246.51			204.06		616.88	632.4
	211.91			164.21		456.7	514.36
EBITDA EBITDA Margin	264.25	163.37 12.31%	62%	215.44	23%	408.2	497.18	-18%
	14.67%			14.71%		11.08%	12.05%
Other Income Depreciation	10.11	11.30 75.06		12.53		26.37	23.29
	91.04			81.02		240.27	220.21
EBIT EBIT Margin	183.32	99.61 7.51%	84%	146.95	25%	194.3	300.26	-35%
	10.18%			10.03%		5.27%	7.28%
Finance Cost	19.41	21.58		18.11		57.1	69.23
Profit before Share of Profit/Loss of JVs and Tax PBT Margin	163.91	78.03 5.88%	110%	128.84	27%	137.2	231.03	-41%
	9.10%			8.79%		3.72%	5.60%
Exceptional Item	-	-5.17				-	-5.17
Tax	43.15	19.40		44.36		50.7	64.24
Profitbefore Share of Profit/Loss of JVs	120.76	53.46	126%	84.48	43%	86.50	161.62	-46%
Share of Profit/Loss of JVs	8.87	1.00		10.02		2.68	13.25
Net profit/(loss) after share of profit/(loss) of associates / joint ventures (A) PAT Margin%	129.63	54.46 4.10%	138%	94.5	37%	89.18	174.87	-49%
	7.20%			6.45%		2.42%	4.24%
PAT attributable to: - Owners of MIL - Non Controlling Interests Other ComprehensiveIncome		44.73 9.72 -0.31	142%		34%			-52%
	108.4			80.83		70.9	147.65
	21.23			13.68		18.28	27.22
	3.7			-10.6		6.1	-3.44
Total Comprehensive Income for MIL TCI Margin%	111.82	44.39 3.35%	152%	69.76	60%	76.28	144.43	-47%
	6.21%			4.76%		2.07%	3.50%
TotalComprehensiveIncomefor NonControllingInterests	21.51	9.75		14.15		19	27

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Contact Us

For further information, please contact:

Company : Investor Relations Advisors : Minda Industries Ltd. Strategic Growth Advisors Pvt. Ltd. CIN : L74899DL1992PLC050333 CIN : U74140MH2010PTC204285 Mr. Ankur Modi Mr. Jigar Kavaiya Head Treasury and Investor Relation +91 99206 02034 amodi@mindagroup.com jigar.kavaiya@sgapl.net www.unominda.com www.sgapl.net