PPAP Automotive Limited. Taking Challenges, Together

Transcription

1 PPAP Automotive Limited Taking Challenges, Together

2 INDEX Quarterly Highlights Company Overview Core Strengths & Growth Strategy Our Products Facilities & Customers Awards Financial Overview 2

3 QUARTERLY HIGHLIGHTS Highlights of results of Q3FY18 compared with Q3FY17 Part Sales increased by 17.85% EBITDA increased by 15.27%, EBITDA Margin increased by 8.36% PAT increased by 22.91%, PAT Margin increase by 15.54% EPS is at 5.84 Started supplies for New swift Certification for Energy Management System *Total Income Crore Q3FY17 Q2FY18 Q3FY18 Parts Tools Others *Net of Excise duty EBITDA Profit after Tax EPS 19.70% 21.56% 21.34% 7.85% 9.45% 9.07% Q3FY17 Q2FY18 Q3FY18 Q3FY17 Q2FY18 Q3FY18 Q3FY17 Q2FY18 Q3FY18 3

4 INDEX Quarterly Highlights Company Overview Core Strengths & Growth Strategy Our Products Facilities & Customers Awards Financial Overview 4

5 BRIEF PROFILE PPAP Automotive Limited (PPAP) is a leading manufacturer of Automotive Sealing Systems, Interior and Exterior Injection parts in India State of the art manufacturing facilities located at Noida (UP), Greater Noida (UP), Chennai (Tamil Nadu) and Pathredi (Rajasthan). All the plants are TS 16949, ISO and OHSAS certified Technical partnership with :- Tokai Group for Automotive Sealing System (Plastic) and Toolings JV with Tokai Group for Automotive Sealing System (EPDM Rubber and TPV) Ichimiya Group for Injection Molded Products Over 500 different products manufactured and targets to achieve zero failure ppm in Quality and Delivery performance MANAGEMENT PROFILE Mr. Ajay Kumar Jain Chairman & Managing Director Commerce graduate from the Shri Ram College of Commerce, DU Associated with the company since inception with experience of over 40 years in the Polymer processing industry and over 30 years in the Automotive industry President of Toyota Kirloskar Supplier Association Director of Automotive Component Manufacturers Association of India Mr. Abhishek Jain CEO & Managing Director Bachelor of Science in Industrial Engineering from Purdue University (USA) Responsible for conducting the operations of the Business Member of Executive Committee of Honda Suppliers Club Mr. Manish Dhariwal Chief Financial Officer Graduated with a degree in B.Com (Hons.) from Delhi University & Member Integrated operations from Print to Build. Challenging spirit and focus on Continuous Improvement. Strong and committed workforce aligned to achieve Company s Targets. of ICAI Work experience over two decades Has worked with Lazard India, IL&FS and Group Mega 5

6 GENERAL INFORMATION SHARE HOLDING AS ON 31ST DEC Promoters Individuals Foreign Portfolio Investor (Corporate) Bodies Corporate Foreign Companies Others 6

7 COMPANY FOCUS TO BE A DOMINANT SUPPLIER OF BODY SEALING, INTERIOR & EXTERIOR PARTS TO BE OUR CUSTOMERS' NO. 1 SUPPLIER TRUSTWORTHINESS MUTUAL RESPECT CREATIVITY COOPERATION EXCELLENCE FOUNDATION ON STRONG HUMAN CAPITAL DEVELOPMENT 7

8 JOURNEY Company Incorporated Start of the Automotive Business Added Maruti Suzuki as customer Technological tie up with Tokoi Kogyo Co., Japan Established Plant - I (Noida) Added Honda Cars as customer Certification of TS and ISO Technological tie up with Nissen Chemitec Corporation, Japan Added Tata Motors as customer Added Toyota as customer Certification of OHSAS Added General Motors as customer Established Plant - II (Noida) Listed on BSE/NSE Established Plant - III (Greater Noida) Added M&M as customer Added Renault Nissan and Ford India as customer Established Plant V (Chennai) Established Plant IV (Pathredi) Technological tie up with Tokoi Seiki Co., Japan Added Isuzu Motors as customer 2016 Entered into LCV business - SML Isuzu. Entered into two-wheeler business - Suzuki Motorcycle 9

9 TECHNOLOGY PARTNERS TOKAI KOGYO CO. LTD, JAPAN Established: 1947 Global Presence: USA, Thailand, Indonesia, China, Mexico, Vietnam NISSEN CHEMITEC CORPORATION, JAPAN Established: 1951 Global Presence: USA, Thailand, Indonesia, Singapore AUTOMOTIVE EXTERIOR & SEALING PRODUCTS TECHNOLOGY PARTNERSHIP - PPAP SINCE 1989 JOINT VENTURE PTI SINCE 2014 AUTOMOTIVE INTERIOR PRODUCTS TECHNOLOGY PARTNERSHIP -PPAP SINCE

10 INDEX Quarterly Highlights Company Overview Core Strengths & Growth Strategy Our Products Facilities & Customers Awards Financial Overview 10

11 CORE STRENGTHS Leadership Position India s leading manufacturer of Automotive Sealing Systems Access to Global Technology Relationship with Japanese Technology Partners since 1989 Strong R&D Facilities Capability from Design to Print Strong Customer Base Leading OEM manufacturers in Indian Market are customers State-of-the-art manufacturing facilities Focus on Kaizen towards Technology and Operations. Strategically located manufacturing plants for Customers Healthy Financials Cost sensitive Culture 11

12 DEVELOPMENT STRATEGY 1 2 Improve Operational Efficiency International Benchmarking Our Mantra - "Every Paisa Counts" Improve margin realization driven by cost optimization & operating leverage Optmization of Asset Utilization Improve OEE (Overall Equipment Efficiency) Impossible for Competition to Catch up 3 Focus on increasing customer base Extend leadership position across OEMs Expand product base 4 Optimization of Investments Timing, Efficiency and Best Value Proposition Review Perpetual sustainable development EVERY TEAM MEMBER WORKS BY SELF MANAGEMENT 12

13 INDEX Quarterly Highlights Company Overview Core Strengths & Growth Strategy Our Products Facilities & Customers Awards Financial Overview 13

14 PRODUCT - MILESTONES 1989 Plastic Sealing System <Technology partnership with Tokai Kogyo> New Category parts Injection parts <Technology partnership with Nissen Chemitech> 2012 Rubber Sealing System <JV partnership with Tokai Kogyo> Plastic Sealing Systems TPO parts Plastic Sealing Systems Injection Moulded Parts Interior & Exterior Door Lining Assembly Rubber Sealing Systems TPV Glass Run Channel, EPDM Back Door Opening & Trim Door Opening Bright type Outer, Rail Comp. side door Injection Moulded Parts Interior and Exterior Large parts Introduction of Instrument Panel, Bumper Bright type Body side moulding Injection Moulded Parts Side Protector & Partition CONTINUOSLY SUPPORT CUSTOMER IN VALUE ADDED PRODUCTS & SERVICES 14

15 SEALING SYSTEMS ROOF MOULDING TRIM DOOR OPENING MOULDING WINDSHEILD BACK DOOR / TRUNK SEAL DOOR OPENING SEAL AIR SPOILER PVC TPO EPDM OUTER BELT BLACK/BRIGHT INNER BELT SLIDE RAIL GLASS RUN CHANNEL PRODUCTS MADE BY PTI (JV) 15

16 INJECTION MOLDING PRODUCTS FR-PILLAR CTR-PILLAR RR -PILLAR PARTITION REAR TRAY UNDER HOOD PRODUCTS IN CABIN PRODUCTS LINING RR PANEL SIDE PROTECTORS SPLASH GUARD DOOR LINING FENDER INNER TRUNK LINING 16

17 INDEX Quarterly Highlights Company Overview Core Strengths & Growth Strategy Our Products Facilities & Customers Awards Financial Overview 17

18 TATA 3% TKML 6% BUSINESS SHARE AS ON 31/12/2017 NISSAN 8% HCIL 31% OTHERS 4% MSIL 48% 19

19 PARTS DEVELOPED BY PPAP IN FOLLOWING MODELS 19

20 DEVELOPMENT INFRASTRUCTURE DESIGN TOOL MANUFACTURING VALIDATION Product Design Tool Design Checking Fixture Design Design Validation Special Purpose Machines Design & Manufacturing In House manufacturing of : Extrusion Parts - Dies & Tools Checking Fixtures Special Purpose machines Injection Molds (upto 650 Tons Raw Material Testing Part Performance Testing 20

21 MANUFACTURING INFRASTRUCTURE PLASTIC EXTRUSION RUBBER EXTRUSION INJECTION MOLDING JV COMPANY PPAP TOKAI INDIA RUBBER PRIVATE LIMITED PVC / TPO MATERIAL 2 Locations; 10 Extrusion Lines 1 separate Extrusion line for trials Flocking Lines Assembly Lines New Chennai Facility under Commissioning EPDM & TPV MATERIAL 1 Kneader Mixing Plant (2 nd Mixing) 1 EPDM Line 1 TPV Line New Greater Noida Facility under Commissioning 38 Machines 3 locations Range: 60 Tons 2500 Tons Make: Toshiba, Nissei, JSW, Fanuc, Toyo, Mitsubishi Electric, Hybrid, Gas Assist, Sequential Gate Valve, Hot Runner technology available New Gujarat Facility and brownfield project at Pathredi under Commissioning 21

22 INDEX Quarterly Highlights Company Overview Core Strengths & Growth Strategy Our Products Facilities & Customers Awards Financial Overview 22

23 CUSTOMER APPRECIATION ACCOLADES FOR 2017

24 CUSTOMER APPRECIATION TOYOTA MOTOR CORPORATION HONDA CARS INDIA LIMITED TOYOTA KIRLOSKAR MOTOR INDIA PVT LIMITED MARUTI SUZUKI INDIA LIMITED 24

25 INDEX Quarterly Highlights Company Overview Core Strengths & Growth Strategy Our Products Facilities & Customers Awards Financial Overview 25

26 In Crore SUMMARY 21.56% 21.34% % 15.63% 15.03% % % 9.45% 9.07% Q3FY17 Q2FY18 Q3FY18 TOTAL INCOME EBITDA MARGIN EBIT MARGIN PAT MARGIN Total Income is net of Excise 26

27 Total Income (Net of Excise) ( crore) Q3FY17 Q2FY18 Q3FY18 Parts Tools Others Total Income is net of Excise 27

28 Major Expenses ( crore) Materials Employee Benefits 49.63% 48.55% 48.13% 15.43% 16.07% 17.03% Q3FY17 Q2FY18 Q3FY Q3FY17 Q2FY18 Q3FY18 Other Expenses Depreciation 15.24% 13.82% 13.49% 7.23% 6.67% 7.01% Q3FY17 Q2FY18 Q3FY Q3FY17 Q2FY18 Q3FY18 28

29 Interest & Earnings( crore) Interest EBITDA 1.76% 1.17% 19.70% 21.56% 21.34% 1.18% Q3FY17 Q2FY18 Q3FY Q3FY17 Q2FY18 Q3FY18 EBIT PAT 13.63% 15.63% 15.03% 7.85% 9.45% 9.07% Q3FY17 Q2FY18 Q3FY Q3FY17 Q2FY18 Q3FY18 29

30 crore Nine Months Performance Income & Major Expenses % 48.43% % 15.32% 14.75% 13.98% 7.26% 7.13% 1.94% 1.27% FY17 FY18 TOTAL INCOME MATERIALS EMPLOYEE COST OTHER EXPENSES DEPRECIATION INTEREST Total Income is net of Excise 30

31 crore Nine Month Performance - Profitability. in Crore Margin % % % % % % 8.64% FY17 FY18 TOTAL INCOME EBITDA EBIT PAT FY17 FY18 TOTAL INCOME EBITDA MARGIN EBIT MARGIN PAT MARGIN Total Income is net of Excise 31

32 EPS & MARKET CAPITALIZATION(BSE) Q3FY17 Q2FY18 Q3FY18 EPS TTM EPS 9MFY17 EPS PERIOD 9MFY Q3FY17 Q2FY18 Q3FY18 Market Cap ( in crores) Share Price 32

33 FINANCIAL PERFORMANCE SNAPSHOT (Previous 3 years) Crs. Operating Income Fixed Assets (Gross Block) Debt FY 2015 FY 2016 FY 2017 Parts Tools Others Net Worth FY 2015 FY 2016 FY 2017 Tangilbe Asstes Intangible Assets CWIP % % 10.29% 8.16% 6.06% 7.26% FY 2015 FY 2016 FY 2017 Debt equity ratio Debt Service Coverage Ratio FY 2015 FY 2016 FY 2017 RONW ROCE 33

34 FINANCIAL PERFORMANCE SNAPSHOT (Previous 3 years) Crs. EBITDA % 18.81% PAT % 12.67% 5.04% 3.78% FY 2015 FY 2016 FY 2017 EBITDA Margin Earning Per Share ( ) FY 2015 FY 2016 FY 2017 PAT Margin Market Capitalization (BSE) FY 2015 FY 2016 FY 2017 Dividend FY 2015 FY 2016 FY 2017 Share Price End of FY Yearly Low Yearly High 34

35 CONSOLIDATED FINANCIAL PERFORMANCE FY 2017 Crs. Operating Income Fixed Assets (Gross Block) Debt FY 2016 FY 2017 Parts Tools Others Net Worth FY 2016 FY 2017 Tangilbe Asstes Intangible Assets CWIP % % 11.41% 6.82% FY 2016 FY 2017 Debt equity ratio Debt Service Coverage Ratio FY 2016 FY 2017 RONW ROCE 35

36 CONSOLIDATED FINANCIAL PERFORMANCE FY 2017 Crs. EBITDA % PAT % 16.63% 4.40% Earning Per Share ( ) FY 2016 FY 2017 EBITDA Margin FY 2016 PAT Margin FY 2017 Market Capitalization (BSE) FY 2016 FY 2017 EPS Dividend Share Price FY 2015 FY 2016 FY 2017 End of FY Yearly Low Yearly High 36

37 DISCLAIMER Certain statements in this communication may be forward looking statements within the meaning of applicable laws and regulations. These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the forward looking statements. Important developments that could affect the Company s operations include changes in the industry structure, significant changes in political and economic environment in India and overseas, tax laws, import duties, litigation and labour relations. PPAP Automotive Ltd. will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances. 37

38 Mr. Manish Dhariwal (Chief Financial Officer) PPAP Automotive Limited Ph: / 53 manish.dhariwal@ppapco.com Mr. Snighter Albuquerque / Ms. Ruchi Bhadra Concept Investor Relations Mo: / snighter@conceptpr.com / ruchi.bhadra@conceptpr.com Website : 36