JTEKT INDIA LlMITED - Amazon S3

JT~KT

JTEKT INDIA LlMITED (Formerly known a.<> Sona Koyo Steering System~ Untitcd)

The BSE Limited Department of Corporate Services Floor 1, New Trading Ring Rotunda Building. P.J. Towers

Dalal Street, Fort Mumbai 400 001. Scrip Code - 520057

Head Office: M3M Cosmopolitan, 1st Floor, Sector-66, Ramgarh Road, (Adjacent to Golf Com~c Exlemiion Road), Gurugram - 122 002, Haryana, India. Tel : +91124 478 3100, Fax : +91124 478 ::1199.

National Stock Exchange of India Ltd. Exchange Plaza, 5th Floor, Plot No. C/1, G Block Bandra - Kurla Complex Bandra (E) Mumbai 400 051. Symbol - JTEKTINOIA; Series - EQ

JT-EKT Koyo f iD1

21st May, 2019

Sub : Presentation for Analyst and Institutional Investors for the fourth quarter/ year ended ended 31st March, 2019.

Dear Sir,

Pursuant to applicable regulations of SEBI (Listing Obligations and Disclosure Requirements) Regulations,

2015, enclosed please find herewith a presentation that shall be shared with the Analyst and Institutional Investors with respect to the Audited Financial Results for the fourth quarter I year ended 31st March, 2019.

This is for your information and record.

Thanking you,

Yours faithfully,

For JTEKT INDIA LIMITED

~ NITIN SHARMA COMPANY SECRETARY

Regd. Office : UGF·6, Indra Prakash 21, Barakhamba Road, New Delhi - 110 001, India. Tel : +91 11 2331 1924 I 2332 7205, Telefax : +91 11 2:~32 7205 CJN : L2911'.lDL1984PLC018415, Website : www.jtekt.co.in

Works : 38/6, Delhi.Jaipur Road, NH-8, Gurugram -122 001, Haryana, India. Tel : +91 124 468 5000, Fax: +91124 410 4611 I 4104621.

JTEKT India LtdInvestor Presentation – May 2019

PROPERITY & CONFIDENTIAL JTEKT India Limited 1


1 Performance Review - Standalone 4

2 Performance Review - Merged Financials 6

3 Performance Review - Consolidated 8

4 Key Ratios -Impact of Merger on Financials 9

4 Operational Highlights 11

5 Financial Statements 12

6 About Us 14

Performance Review-Standalone

PROPERITY & CONFIDENTIAL JTEKT India Limited

3205 3487

1207812928

0

2000

4000

6000

8000

10000

12000

14000

Q-4 (F-18) Q-4 (F-19) FY-18 FY-19

221251

625645

7%7%

5% 5%

0%

1%

2%

3%

4%

5%

6%

7%

8%

9%

10%

0

100

200

300

400

500

600

700

Q-4 (F-18)Q-4 (F-19) FY-18 FY-19

144 155

308

492

4.5% 4.4%

2.6%

3.8%

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

8.0%

0

100

200

300

400

500

600

Q-4 (F-18) Q-4 (F-19) FY-18 FY-19

Revenue Operating Profit & Margin PAT & PAT Margin

Standalone FY19

7%

YOY

60%

YOY3.3%

YOY

� Total Revenue increased 7% YOY in FY19 at 12078 Mn compared to Rs. 12928 mn in FY19.

� Operating Profit at Rs. 625 mn in FY18 compared to Rs. 645 mn in FY19 :

Margin improved due to increase in revenue.

� PAT at Rs. 308 mn in FY18, up 60% compared to Rs. 492mn (includes dividend of Rs. 99 mn

received from subsidiary and associate)

On account of reduced finance charges by 26.02% and reduced Depreciation expense by 13.23%


Performance Review- Merged

Financials



Merged Financials FY19

4261 4810

1525316159

17731

0

2000

4000

6000

8000

10000

12000

14000

16000

18000

20000

Qtr-4 Qtr-4 FY-18

(Effective

Date of

Control)

FY-18

(Full)

FY-19

239 234 561 601 684

5.6%

4.9%

3.7% 3.7% 3.9%

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

8.0%

9.0%

0

100

200

300

400

500

600

700

800

Qtr-4 Qtr-4 FY-18

(Effective

Date of

Control)

FY-18

(Full)

FY-19386 404 1031 1088 1102

9.1%8.4%

6.8% 6.7%6.2%

-1.0%

1.0%

3.0%

5.0%

7.0%

9.0%

11.0%

13.0%

15.0%

-100

100

300

500

700

900

1100

1300

1500

Qtr-4 Qtr-4 FY-18

(Effective

Date of

Control)

FY-18

(Full)

FY-19

9.7%

YOY

1.3%

YOY

14%

YOY

Total Revenue increased 9.7% YOY in FY19 at 17731 Mn compared to Rs. 16159 mn in FY19.

Operating Profit at Rs. 1088 mn in FY18 compared to Rs. 1102 mn in FY19 : Margin improved due to increase in revenue.

PAT at Rs. 601 mn in FY18, up 14% compared to Rs. 684mn in FY19

On account of reduced finance charges by 28% and reduced Depreciation expense by 7%


Performance Review-

Consolidated



Consolidated FY19

Total Revenue increased 9% YOY in FY19 at 16099 mn compared to Rs. 17540 mn in FY19.

Operating Profit at Rs. 1225 mn in FY18 compared to Rs. 1257 mn in FY19 : Margin improved due to increase in revenue.

PAT at Rs. 710 mn in FY18, up 10% compared to Rs. 782 mn in FY19

On account of reduced finance charges by 27%.

* FY-18 Effective date of control by JTEKT -22nd Jun 2017 and comparison made with full year which has not published result.


15193

16099

17540

14000

14500

15000

15500

16000

16500

17000

17500

18000

FY-18 (Effective

Date of

Control)

FY-18 Full Year FY-19

9%

YOY

1168 1225 1257

7.7% 7.6%7.2%

3.9%

4.9%

5.9%

6.9%

7.9%

8.9%

9.9%

1120

1140

1160

1180

1200

1220

1240

1260

1280

FY-18

(Effective Date

of Control)


2.6%

YOY

670 710 782

4.4% 4.4%

4.5%

4.4%

4.4%

4.4%

4.4%

4.4%

4.4%

4.4%

4.5%

4.5%

4.5%

600

620

640

660

680

700

720

740

760

780

800

FY-18

(Effective Date

of Control)


10%

YOY

Key Ratios : Impact of Merger on Financials

0.72

0.53

0.33

(0.10)

0.10

0.30

0.50

0.70

0.90

1.10

1.30

FY-18 FY-19 FY-19

Standalone Merged Entity

Debt Equity

3,175 3,550

5,743

-

1,000

2,000

3,000

4,000

5,000

6,000

FY-18 FY-19 FY-19


Net Worth [Rs. in Mn]

625 645

1102

5.2% 5.0%

6.2%

0

200

400

600

800

1000

1200

1400

FY-18 FY-19 FY-19


2.96 3.27 3.52

-

1.00

2.00

3.00

4.00

5.00

6.00

FY-18 FY-19 FY-19


Fixed Assets Turnover RatioOperating Profit


Operational Highlights


Product Wise Sales Mix* Geographic Sales Mix Product Revenue Breakup

Product Wise & Geographic Sales Mix


84%

16%

FY-18

Drivline Steering & Coloumns

86%

14%

FY-19

Drivline Steering & Coloumns

8%

92%

FY-18

Exports Domestic

8%

92%

FY-19

Exports Domestic

Note : Breakup on standalone basis.

11

RPS M, 18%

CEPS, 38%HPS, 10%

Coloumn,

5%

Axle, 9%

Others,

19%

FY-18

RPS M, 18%

CEPS, 40%HPS, 10%

Coloumn,

6%

Axle, 10%

Others, 16%

FY-19

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sonali.rana

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sonali.rana

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sonali.rana

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Financial Statements


Table of content

P&L –Merged (JIN+JSAI)

PROPERITY & CONFIDENTIAL JTEKT India Limited13

Rs/Million

Particulars

Q4 F18 Q4 F19 YOY %

Merged

F-18 (Full

Year)

Merged

F-19YOY %

Sales Revenue 4261 4810 13% 16159 17731 10%

Material Cost 2805 3284 17% 10823 12144 12%

Manufacturing Cost 227 248 9% 860 994 16%

Selling Cost 43 49 14% 207 306 48%

Employee Cost 422 462 9% 1747 1836 5%

Administrative Cost 150 136 -9% 458 443 -3%

EBITDA 613 631 3% 2064 2008 -3%

Depreciation 227 227 0% 977 906 -7%

Operating Profit 386 404 5% 1088 1102 1%

Financial Cost 44 41 -7% 216 155 -28%

Other Income 23 28 18% 79 126 59%

PBT from Operations 366 391 7% 951 1073 13%

Profit After Tax 233 241 3% 617 686 11%

PAT after recognising IND AS Impact 239 234 -2% 601 684 14%

* Effective date of control by JTEKT -22nd Jun 2017 & FY-18 full year numbers are not based on published results.

Key Ratios as a % of Total Revenue Q4 F18 Q4 F19

Merged F-

18 (Full

Year)

Merged F-

19

EBIDTA 14.4% 13.1% 12.8% 11.3%

Operating Profit 9.1% 8.4% 6.7% 6.2%

PAT 5.6% 4.9% 3.7% 3.9%

Total Expenditure 86% 87% 87% 89%

Raw Material 65.8% 68.3% 67.0% 68.5%

Staff Cost 9.9% 9.6% 10.8% 10.4%

Other Expenditure 10% 9% 9% 10%

About JTEKT India Limited(Company Background)

� Established in 1984, JTEKT India Limited (formerly known as Sona Koyo Steering Systems

Limited) (JIN) is currently the largest manufacturer of steering systems for the passenger car

and utility vehicle market in India, catering to passenger cars, utility vehicles and light

commercial vehicles. The Company gets its technology from JTEKT Corporation, Japan

(formally known as Koyo Seiko Co. Ltd.), the largest producer of passenger vehicles' steering

systems in the world.

� JIN's customer base includes major vehicle manufactures in India such as Maruti Suzuki,

Toyota, Tata Motors, Mahindra & Mahindra, General Motors, Fiat India, Isuzu Motors, Renault

India and Tier II to Honda and Nissan.

� The Company has operations across India through its 8 Plants (2 plants in Gurgaon, 3 plants in

Dharuhera, 1 plant in Chennai, 1 in Sanand & 1 in Bawal).

� The product portfolio of the company includes High performance Rack and Pinion Manual

Steering Gear, Hydraulic power steering System, Recirculating Ball Screw Assembly, Column

type Electric Power Steering for passenger Vehicle , Tilt & telescopic steering column,

intermediate shaft , Advanced column & telescopic Intermediate shaft for Commercial

Vehicles, Electric Power Assist Module (EPAM) for Off Highway and Farm Sector, Rear Axle

Assy and Driveline products.


About JTEKT Corporation Japan


� JTEKT Corporation was established in January 2006 through the merger of Koyo Seiko Co. Ltd.,a world-class bearing manufacturer, and Toyoda Machine Works, Ltd., a machine toolmanufacturer excelling in world-leading technologies. Combining the most advancedtechnologies and the manufacturing passion of the two companies, JTEKT is now a trustedsystems supplier of automotive components, bearings and machine tools, providing customerswith world-class products.

� They pioneered the successful development and mass production of electric power steeringsystems, and they still hold No.1 share in the global market today. They were also the firstmanufacturer in Japan to develop high-precision, durable bearings capable of reliableperformance in severe environments such as steel rolling mills, where temperatures exceed1,200°C, thereby contributing to the expansion of various industries.

� The JTEKT Group introduced JTEKT Group Vision, a common guideline for its employeesworldwide. By refining the No.1 & Only One technologies and products that they haveproduced to date and providing the products and services sought by their customers, Theycontinue contributing to the realization peoples' happiness and a more affluent society.

� On consolidated basis, the Company had 49,600 employees (as of March 2019) and JTEKTglobally present in 30 countries and having 152 subsidiaries.

� Company Philosophy: Seek to contribute to the happiness of people and the abundance ofsociety through product manufacturing that wins the trust of society.

About JTEKT Corporation(Company Background)

Shaping a Better Future through the spirit of “No. 1 & Only One”16

The Journey Begins Now

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