Presentation on Results Q1 FY 2015-16 · PDF filePresentation on Results Q1 FY 2015-16 06th...

Presentation on Results Q1 FY 2015-16

06th August 2015

Proud to be!part of !a bigger!plan!

MSSL Presentation on Results Q1 FY15-16

Overview

• Highlights

• MSSL performance

• SMRPBV performance

• New/Upcoming facilities

• Debt status

2


Highlights Q1 FY 15-16

3

MSSL Consolidated

Total Sales

12%

EBITDA

14%

22%

PBT

62%

PAT *

MSSL: Motherson Sumi Systems Ltd; SMRP BV : Samvardhana Motherson Automotive Systems Group BV, SMR: Samvardhana Motherson Reflectec; SMP: Samvardhana Motherson Peguform

* Exceptional expenses of Rs.25 crores provided

MSSL Standalone

Total Sales*

1%

EBITDA

2%

37%

PBT

45%

PAT

*Despite the fall in JPY & reduction in copper prices



4

Sales

25%

EBITDA

24%

33%

PBT

225%

PAT (concern share)

SMRP BV raised 10 years Bonds of Euro 100 millions @3.7% pa in June 2015

Sales

24%

EBITDA

22%

Sales

25%

EBITDA

28%

MSSL: Motherson Sumi Systems Ltd; SMRP BV : Samvardhana Motherson Automotive Systems Group BV, SMR: Samvardhana Motherson Reflectec; SMP: Samvardhana Motherson Peguform

SMRP BV (in Euro Terms) SMR & SMP (In Euro Terms)


• 14 pre declared plants under different stages of completion.

• 6 New plants / expansions initiated

• Nominated in the Volkswagen Group Procurement Strategic Partners http://www.tuner-tv.de/tuning/volkswagen-group-award-2015-vergeben.html

Comments by Mr. V.C. Sehgal, Chairman, Motherson Sumi Systems Limited

“We are thankful to our customers for always reposing their trust in us and giving us opportunities to partner with them globally. We are strengthening our base to service the requirements of our customers and in line with the 2020 targets. The facilities that we are creating would form the foundation of our growth over the coming 5 years.”

• The standalone net debt stands at Rs. 275

crores as on 30th June 2015, lower by Rs. 112 crores compare to March 2015.

• Bonus Issue The bonus shares issued by the company in the ratio of 1 shares against 2 held have been admitted for trading on 05th August 2015

5

Other highlights On the Growth track



Overview

• Highlights




• Debt status

6


MSSL Consolidated : Q1 FY 2015-16 vs. Q1 FY 2014-15

(Rs. Crores) Q1 2014-15

Q1 2015-16

Exchange Loss / ( Gain ) on Long Term Loans 12 8

Exceptional expenses- on Bond Issue 46 25

Notes :

1,248 1,304

7,048 7,948

8,296

9,252

-

2,000

4,000

6,000

8,000

10,000

Q1 FY 2014-15 Q1 FY 2015-16

Within India Outside India Total

739 841

8.9% 9.1%

0%

2%

4%

6%

8%

10%

12%

400

600

800

1,000

Q1 FY 2014-15 Q1 FY 2015-16

EBITDA % of Sales

462 563

164

266

-

100

200

300

400

500

600

Q1 FY 2014-15 Q1 FY 2015-16

PBT PAT

(Rs.

in C

rore

s)

(Rs.

in C

rore

s)

(Rs.

in C

rore

s)

{# concern share after exchange loss/(gain)exceptional expenses} {* Before exchange loss/ (Gain) and excep8onal expenses/(income)}

Sales EBITDA* / % to Sales PBT * & PAT#

7

12%

14%

22% 62%

SMRP BV has grown by 25%

in real terms (Euro)


MSSL Standalone : Q1 FY 2015-16 vs. Q1 FY 2014-15

Notes :

(Rs.

in C

rore

s)

(Rs.

in C

rore

s)

(Rs.

in C

rore

s)

{* Before exchange loss/ (Gain) and excep8onal expenses/(income)}

Sales EBITDA* / % to Sales PBT * & PAT

217 221

18.1% 18.2%

0%

4%

8%

12%

16%

20%

50

100

150

200

250

Q1 FY 2014-15 Q1 FY 2015-16 EBITDA % of Sales

165

226

110

159

-

50

100

150

200

250

Q1 FY 2014-15 Q1 FY 2015-16 PBT PAT

1,003 1,018

198 198

1,201

1,216

-

300

600

900

1,200

1,500

Q1 FY 2014-15 Q1 FY 2015-16 Domestic Exports

(Rs. Crores) Q1 2014-15

Q1 2015-16

Exchange Loss / ( Gain ) on Long Term Loans 3 8

8

Inspite of the above, the revenues have grown by 1% with improved results.

1% 2% 37%

45%

Average Q1 2014-15

Q1 2015-16 %

USD - JPY 102 121 19 %

LME Copper(USD/ton) 6800 6055 11 %

Rs to Euro 82.04 70.22 14 %


Overview

• Highlights




• Debt status

9


SMRPBV: Q1 FY 2015-16 vs. Q1 FY 2014-15 (In Euro Terms**)

Notes :

(In M

illio

n Eu

ro)

(In M

illio

n Eu

ro)

(In M

illio

n Eu

ro)

{* Before exchange loss/ (Gain) and excep8onal expenses/(income)}

Sales EBITDA* / % to Sales PBT * & PAT#

(In Million Euro) Q1 2014-15

Q1 2015-16

Exceptional expenses towards bonds issuance 5.58 3.5

Exchange Loss / (Gain) on Long Term Loans

1.14 -

{# concern share}

59 73

7.1% 7.2%

0%

2%

4%

6%

8%

-

20

40

60

80


11 12

815 1,019

826

1,031

-

200.00

400.00

600.00

800.00

1,000.00

1,200.00

Q1 FY 2014-15 Q1 FY 2015-16 Within India Outside India Total

31.9

42.5

3.6

11.7

-

10.0

20.0

30.0

40.0

50.0

Q1 FY 2014-15 Q1 FY 2015-16 PBT PAT- Concern Share

Rs.516 cr. Rs.481 cr. Rs. 6,775 cr. Rs. 7,239 cr. Rs.298 cr.

Rs.262 cr.

Rs.30 cr.

Rs.82 cr.

10

•  Closely keeping a watch in market conditions in China.

25% 24% 33%

225%

** Please refer to Note on Slide no 23


SMR : Q1 FY 2015-16 vs. Q1 FY 2014-15 (In Euro Terms**)

Sales EBITDA* / % to Sales

27 33

9.1% 9.0%

0%

2%

4%

6%

8%

10%

-

10

20

30

40


11 12

284 353

295 365

-

50.00

100.00

150.00

200.00

250.00

300.00

350.00

400.00

Q1 FY 2014-15 Q1 FY 2015-16

Within India Outside India Total

*At exchange rate used for translation

Sales

24%

EBITDA

22%

11

(in M

illio

n Eu

ro)

Rs. 2,418 cr. Rs. 2,565 cr. Rs. 219 cr. Rs. 230 cr.

(in M

illio

n Eu

ro)



SMP : Q1 FY 2015-16 vs. Q1 FY 2014-15 (In Euro Terms**)

Sales EBITDA* / % to Sales

(in M

illio

n Eu

ro)

(in M

illio

n Eu

ro)

*At exchange rate used for translation Sales

25%

EBITDA

28%

531 666

-

200

400

600

800

Q1 FY 2014-15 Q1 FY 2015-16

Rs. 4,357 cr.

32 41

6.0% 6.2%

0%

2%

4%

6%

8%

-

5

10

15

20

25

30

35

40

45

50


Rs. 4,678 cr. Rs. 262 cr. Rs. 290 cr.

12



Overview

• Highlights




• Debt status

13


Status of upcoming facilities – Americas (USA+ Mexico+ Brazil)

§  Company: SMR §  Location: Marysville, USA §  Type: New plant and significant capacity expansion §  Products: Exterior mirrors §  Status : Schedule to start by Q4 FY 2015-16

§  Company: SMP §  Location: Zitlaltepec, Mexico §  Type: Greenfield plant §  Products: Bumpers, rocker panels, wheel covers, roof

spoilers §  Status : Schedule to start by Q1 FY 2016-17

USA

MEXICO

Q2 FY14-15! Q1 FY15-16!

Q2 FY14-15! Q1 FY15-16!

§  Company: SMP §  Location: Tuscaloosa (USA) §  Type: Greenfield plant §  Products: Bumpers & Door Panels §  Status : Schedule to start by FY 2018-19

New Development

14


Status of upcoming facilities – Europe

§  Company: SMP §  Location: Oldenburg (Germany) §  Type: New Painting facility §  Products: Bumpers & Rocker Panels §  Status : Started during Q3 FY 2014-15

§  Company: SMP §  Location: Schierling (Germany) §  Type: Greenfield Plant §  Products: Bumpers §  Status : Started during Q3 FY 2014-15

Germany

§  Company: SMP §  Location: Boetzingen (Germany) §  Type: Brownfield Expansion §  Products: Door Panels based on natural fibre plastic §  Status : Schedule to start by Q3 FY 2015-16

Q2 FY14-15! Q1 FY15-16!

Q1 FY15-16!Q2 FY14-15!

15

Q2 FY14-15! Q1 FY15-16!


Status of upcoming facilities – Europe

§  Company: SMP §  Location: Polinya (Spain) §  Type: New Painting facility §  Products: Bumpers §  Status : Schedule to start by Q3 FY 2015-16

§  Company: SMP §  Location: Kecskemet (Hungary) §  Type: Greenfield Plant §  Products: Bumpers & Door Panels §  Status : Schedule to start by Q4 FY 2017-18

Hungary

Spain

New Development

16

Q1 FY15-16!Q2 FY14-15!


Status of upcoming facilities – Asia Pacific (Excluding India)

§  Company: SMP §  Location: Beijing (China) §  Type: Greenfield Plant §  Products: Door Panels §  Status : Schedule to start by Q1 FY 2016-17

China

§  Company: SMR §  Location: Chongqing (China) §  Type: Greenfield Plant §  Products: Exterior Mirrors §  Status : Started in Q4 FY 2014-15

§  Company: SMP §  Location: Foshan (China) §  Type: Greenfield Plant §  Products: A/B/C pillars §  Status : Started in Q2 FY 2014-15

Q2 FY14-15! Q1 FY15-16!

§  Company: SMR §  Location: Ningbo (China) §  Type: Expansion §  Products: Exterior Mirrors §  Status : Schedule to start by Q4 FY 2015-16

New Development

Q2 FY14-15! Q1 FY15-16!

Q2 FY14-15! Q1 FY15-16!

17


Status of upcoming facilities – Asia Pacific (Excluding India)

§  Company: SMR §  Location: Hyosang Ochang Plant II (South Korea) §  Type: New Plant & capacity expansion §  Products: Exterior Mirrors §  Status : Schedule to start by Q4 FY 2015-16

Thailand §  Company: MSSL WHD §  Location: Thailand §  Type: Expansion §  Products: Wiring Harness §  Status : Started in Q3 FY 2014-15

New Development South

Korea

Q2 FY14-15! Q1 FY15-16!

18


Status of upcoming facilities - India

§  Company: MATE §  Location: Sanand, Gujarat (India) §  Type: Greenfield Plant §  Products: Polymer products §  Status : Schedule to start by Q2 FY 2015-16

India

§  Company: MATE §  Location: Walajabad, Chennai, India §  Type: Greenfield Plant * §  Products: Polymer products §  Status : Schedule to start by Q2 FY 2015-16

§  Company: MSSL WHD §  Location: Noida, (U.P.), India §  Type: Reconstruction of entire plant §  Products: Wiring Harness §  Status : Schedule to start by Q2 FY 2015-16

§  Company: MSSL WHD §  Location: Walajabad, Chennai, India §  Type: Greenfield Plant §  Products: Wiring Harness §  Status : Schedule to start by Q3 FY 2015-16

Q2 FY14-15! Q1 FY15-16!

Q1 FY15-16!Q2 FY14-15! Q2 FY14-15! Q1 FY15-16!

Q2 FY14-15! Q1 FY15-16!

19

* Also adding R&D Centre


Status of upcoming facilities - India

§  Company: MSSL WHD §  Location: Sanand, Gujarat (India) §  Type: Greenfield Plant §  Products: Wiring Harness §  Status : Schedule to start by Q2 FY 2016-17

India

§  Company: SMR §  Location: Noida, (U.P.), India §  Type: New assembly plant & paint shop §  Products: Rear View Mirrors §  Status : Schedule to start by Q1 FY 2016-17

New Development

New Development

20


Overview

• Highlights




• Debt status

21


Debt status

Exchange rate used

Rs/Euro

Rs/USD

31.03.2015

67.06

62.50

30.06.2015

70.90

63.64

Net Debt

387 275

3,239 3,794

31.03.2015 30.06.2015 Standalone Consolidated

22

(Rs. In crores)

SMRP BV raised 10 years Bonds of Euro 100 millions

@3.7% p.a. in June 2015


Safe harbour

This presentation contains forward-looking statements based on the currently held beliefs and assumptions of the management of the Company, which are expressed in good faith and, in their opinion, reasonable. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, financial condition, performance, or achievements of the Company or industry results, to differ materially from the results, financial condition, performance or achievements expressed or implied by such forward-looking statements. Given these risks, uncertainties and other factors, recipients of this presentation are cautioned not to place undue reliance on these forward-looking statements. The Company disclaims any obligation to update these forward-looking statements to reflect future events or developments.

Safe harbour & Note

Note :

**SMRPBV, parent company for SMR & SMP prepares financial statements in Euro currency, hence comparative data is given in Euro terms. These results are consolidated in MSSL by using average exchange rates. The corresponding figures in Rupee terms have also been stated.

Thank you

23

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