Post on 30-Mar-2018
MSSL Presentation on Results Q1 FY15-16
Overview
• Highlights
• MSSL performance
• SMRPBV performance
• New/Upcoming facilities
• Debt status
2
MSSL Presentation on Results Q1 FY15-16
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
MSSL Presentation on Results Q1 FY15-16
Highlights Q1 FY 15-16
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)
MSSL Presentation on Results Q1 FY15-16
• 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
Highlights Q1 FY 15-16
MSSL Presentation on Results Q1 FY15-16
Overview
• Highlights
• MSSL performance
• SMRPBV performance
• New/Upcoming facilities
• Debt status
6
MSSL Presentation on Results Q1 FY15-16
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 Presentation on Results Q1 FY15-16
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 %
MSSL Presentation on Results Q1 FY15-16
Overview
• Highlights
• MSSL performance
• SMRPBV performance
• New/Upcoming facilities
• Debt status
9
MSSL Presentation on Results Q1 FY15-16
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
Q1 FY 2014-15 Q1 FY 2015-16 EBITDA % of Sales
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.
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• Closely keeping a watch in market conditions in China.
25% 24% 33%
225%
** Please refer to Note on Slide no 23
MSSL Presentation on Results Q1 FY15-16
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
Q1 FY 2014-15 Q1 FY 2015-16 EBITDA % of Sales
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)
** Please refer to Note on Slide no 23
MSSL Presentation on Results Q1 FY15-16
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
Q1 FY 2014-15 Q1 FY 2015-16 EBITDA % of Sales
Rs. 4,678 cr. Rs. 262 cr. Rs. 290 cr.
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** Please refer to Note on Slide no 23
MSSL Presentation on Results Q1 FY15-16
Overview
• Highlights
• MSSL performance
• SMRPBV performance
• New/Upcoming facilities
• Debt status
13
MSSL Presentation on Results Q1 FY15-16
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
MSSL Presentation on Results Q1 FY15-16
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!
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Q2 FY14-15! Q1 FY15-16!
MSSL Presentation on Results 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!
MSSL Presentation on Results Q1 FY15-16
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!
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MSSL Presentation on Results Q1 FY15-16
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!
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MSSL Presentation on Results Q1 FY15-16
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!
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* Also adding R&D Centre
MSSL Presentation on Results Q1 FY15-16
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
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MSSL Presentation on Results Q1 FY15-16
Overview
• Highlights
• MSSL performance
• SMRPBV performance
• New/Upcoming facilities
• Debt status
21
MSSL Presentation on Results Q1 FY15-16
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
MSSL Presentation on Results Q1 FY15-16
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
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