PPAP Automotive Limited

Transcription

1 PPAP Automotive Limited (Formerly Precision Pipes & Profiles Company Limited) Taking Challenges, Together

2 AGENDA S.NO. ITEM 1 Company Overview 2 Financial Performance (Q1 FY16 ) 3 Financial Performance (LAST 3 YEARS) DISCLAIMER PPAP AUTOMOTIVE LIMITED may, from time to time, make additional written and oral forward looking statements, including statements contained in the company's filings with Bombay Stock Exchange and National Stock Exchange, and our reports to shareholders. The company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the PPAP AUTOMOTIVE LIMITED. All information contained in this presentation has been prepared solely by PPAP AUTOMOTIVE LIMITED. PPAP AUTOMOTIVE LIMITED does not accept any liability whatsoever for any loss, howsoever, arising from any use or reliance on this presentation or its contents or otherwise arising in connection therewith. Updated 10th August 2015

3 BRIEF PROFILE PPAP Automotive Limited (PPAP) is a leading manufacturer of Automotive Sealing Systems, Interior and Exterior Automotive 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 collaboration with:tokai Kogyo Co, Japan for Automotive Sealing System Nissen Chemitec Corporation, Japan, for Injection Molded Products Tokai Seiki Co, Japan for tooling development Joint Venture with Tokai Kogyo Co, Japan for EPDM Rubber based Sealing System Over 500 different products manufactured and targets to achieve zero failure ppm in Quality and Delivery performance Strong and committed workforce aligned to achieve Company s Targets.

4 GENERAL INFORMATION S.NO DESCRIPTION 1 COMPANY ESTABLISHED START OF AUTOMOTIVE BUSINESS LISTED ON STOCK EXCHANGE (BSE/NSE) 4 5 SHARE HOLDING REMARKS 3,2 24,19 8,56 63, ,9 SHARE CAPITAL 140 MILLION INR Promoters Financial Institutions CERTIFICATIONS TS ISO Bodies Corporate Individuals OHSAS Others

5 MANAGEMENT PROFILE Ajay Kumar Jain - Chairman & Managing Director Commerce graduate from the Shri Ram College of Commerce, University of Delhi Has been associated with the company since inception Experience of over 40 years in the Polymer processing industry Experience of over 30 years in the Automotive industry President of Toyota Kirloskar Supplier Association Mr. Abhishek Jain Executive Director B.E. in Industrial Engineering from Purdue University (USA) Before joining the company has worked in 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 of Institute of Chartered Accountants of India Work experience over two decades Has worked with Lazard India, IL&FS and Group Mega

6 MISSION, VISION & VALUES MISSION TO BE A DOMINANT SUPPLIER OF BODY SEALING, INTERIOR & EXTERIOR PARTS VISION TO BE OUR CUSTOMERS NO. 1 SUPPLIER VALUES TRUSTWORTHINESS MUTUAL RESPECT CREATIVITY COOPERATION EXCELLENCE YEARS EXPERIENCE

7 AUTOMOTIVE SEALING SYSTEMS INJECTION MOLDED PRODUCTS

8 PRODUCT - MILESTONES << JV COMPANY >> GLASS RUN CHANNEL,BACK DOOR OPENING & TRIM DOOR OPENING PARTS INJECTION MOLDED PARTSINTERIOR,EXTERIOR-DOOR LINING ASSEMBLY INJECTION MOLDED PARTSINTERIOR,EXTERIOR-REAR TRAY ASSEMBLY INJECTION MOLDED PARTSINTERIOR,EXTERIOR & UNDER BODY PARTS INJECTION MOLDED PARTS-SIDE PROTECTOR EXTRUSION PARTS

9 SEALING SYSTEMS ROOF MOULDING TRIM DOOR OPENING BACK DOOR / TRUNK SEAL MOULDING WINDSHEILD PVC TPO EPDM DOOR OPENING SEAL GLASS RUN CHANNEL AIR SPOILER OUTER BELT BLACK/BRIGHT INNER BELT SLIDE RAIL

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

11 TECHNOLOGY PARTNERS AUTOMOTIVE SEALING SYSTEM INJECTION MOLDED PRODUCTS TOKAI KOGYO CO. LTD, JAPAN NISSEN CHEMITEC CORPORATION, JAPAN ESTABLISHED : 1947 ESTABLISHED : 1951 GLOBAL PRESENCE : USA, THAILAND, INDONESIA, CHINA, MEXICO,VIETNAM GLOBAL PRESENCE : USA, THAILAND, INDONESIA, SINGAPORE RELATIONSHIP WITH PPAP : 1989 RELATIONSHIP WITH PPAP : 2007

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13 MANUFACTURING FACILITIES HUMAN RESOURCE I PLANT IV PATHREDI, 2014 CERTIFICATIONS TS ISO OHSAS TEAM STRENGTH : 1517 Pplanm E E PLANT I PLANT II NOIDA,1996 NOIDA,2003 INDIRECT E PLASTIC EXTRUSION I INJECTION R RUBBER EXTRUSION A ASSEMBLY A R I PLANT III SURAJPUR, % NO OF TEAM MEMBERS DESIGN & DEVELOPMENT 40 TOOL MANUFACTURING 8 SPECIAL PURPOSE MACHINE 4 STAFF 265 [PRODUCTION, QUALITY, PURCHASE, ACCOUNTS, MARKETING, HR & IT] ATTRITION PLANT V CHENNAI, 2012 REGISTERED OFFICE MANUFACTURING FACILITY FUTURE PLANNING S NO TYPE FY COMPANY ROLL 4.0 % 2 CONTRACTOR ROLL 9.8 %

14 EXTRUSION INFRASTRUCTURE PVC / TPO MATERIAL 13 EXTRUSION LINES FLOCKING LINES ASSEMBLY LINES EPDM & TPV MATERIAL 1 KNEADER MIXING PLANT (2ND MIXING) 1 EPDM LINE 1 TPV LINE JV COMPANY PPAP TOKAI INDIA RUBBER PRIVATE LIMITED

15 INJECTION MOLDING INFRASTRUCTURE RANGE : 60 TONS 2500 TONS MAKE : TOSHIBA NISSEI JSW FANUC TOYO MITSUBISHI 32 MACHINES INCLUDING 8 GAS ASSISTED

16 TOOL MANUFACTURING IN HOUSE TOOL ROOM TOOLING NEW AND MAINTENANCE CNC MACHINES WIRE CUT (SODICK) EDM CNC LATHE CNC MILLING OUTSOURCING OF TOOLINGS FROM LOCAL CHINA TAIWAN

17 DESIGN AND DEVELOPMENT PRODUCT DESIGN TOOL DESIGN CHECKING FIXTURE DESIGN DESIGN VALIDATION SPECIAL PURPOSE MACHINES DESIGN AND MANUFACTURING

18 TESTING AND VALIDATION TEST MACHIINES RAW MATERIAL TESTING PART PERFORMANCE TESTING Universal Testing Machine Impact Strength Testing Machine ( Izod/ Charpy ) Hardness Tester Specific Gravity MFI Testing Machine Muffle Furnace for Ash Content Viscosity Meter Heat / Cold Conditioning Chambers Salt Spray Tester Profile Projector Abrasion Tester Humidity Chamber up to 95 % RH Heat Stability Machine Low Temperature Impact Testing Machine Salt Spray testing

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20 CUSTOMERS INDIA EUROPE > 20 YRS > 15 YRS > 01 YRS MEXICO > 10 YRS THAILAND > 01 YRS > 04 YRS JAPAN > 03 YRS > 04 YRS > 02 YRS > 9 YRS > 02 YRS > 02 YRS > 03 YRS > 01 YRS > 03 YRS

21 MODELS

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

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26 INCOME Income Sales % % % -26% -26% (Rs. Lakhs) (Rs. Lakhs) % Income VARIANCE Year on Year Q1 FY16 Q1 FY15 Q4 FY VARIANCE Qtr on Qtr Sales Q1 FY16 Q1 FY15 Q4 FY

27 EXPENSES 70% -4% -15% +16% +38% -11% +17% +94% +21% +3% +51% 60% 50% % TO SALES 40% 30% 20% 10% 0% -10% MATERIAL Q1 FY16 Q1 FY15 Q4 FY15 VARIANCE Year on Year VARIANCE Qtr on Qtr 54,76% 57,28% 64,18% EMPLOYEE BENEFIT EXPENSES 14,87% 12,80% 10,77% OTHER EXPENSES FINANCE COST DEPRECIATION 14,45% 16,30% 12,32% 3,10% 1,60% 2,56% 7,84% 7,58% 5,18%

28 PROFIT RATIOS % TO SALES IN RS. CRORE 20% % -7% +46% -19% +23% -37% 18% % +25% +49% +9% +26% -15% 16% 12 14% 10 12% 10% 8 8% 6 6% 4 4% 2 0 Q1 FY16 Q1 FY15 Q4 FY15 VARIANCE Year on Year 2% EBITDA 12,50 10,29 13,50 VARIANCE Qtr on Qtr EBIT 6,82 4,67 8,44 PAT 2,97 2,41 4,74 0% Q1 FY16 Q1 FY15 Q4 FY15 EBITDA 17,25% 13,88% 13,81% EBIT 9,41% 6,30% 8,63% PAT 4,10% 3,25% 4,85%

29 EPS & BVPS IN RS. PER SHARE +23% -37% IN RS. PER SHARE EPS 2,12 1,72 3,39 Q1 FY16 Q1 FY15 Q4 FY15 VARIANCE Year on Year VARIANCE Qtr on Qtr Q1 FY16 Q1 FY15 Q4 FY15 BOOK VALUE 143,92 136,65 141,80

30 SUMMARY KEY RATIOS 120,00 20,00% 18,00% 100,00 17,25% Rs. crore 80,00 16,00% 14,00% 13,88% 13,81% 12,00% ,41% 60,00 8,63% 10,00% 8,00% 40,00 6,30% 6,00% 4,85% 4,10% 4,00% 3,25% 20,00 2,00% - 0,00% FY15 Q1 Total Income FY15 Q4 EBITDA Margins FY16 Q1 EBIT Margins PAT Margins

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32 INCOME TOTAL INCOME (INR CRS.) SALES (INR CRS.) 350,00 350,00 CAGR : % CAGR : % 322,64 300,00 318,50 300,00 250,00 250,00 255,25 246,76 219,59 200,00 200,00 150,00 150,00 100,00 100,00 50,00 50,00-215,43 FY13 FY14 FY15 FY13 FY14 FY15

33 PROFIT RATIOS % TO SALES IN RS. CRORE 16% % % -5% 14% +84% 12% 35 10% % % 6% +911% 15 +8% 8% +609% +10% -15% 4% % 2% 5 0 FY13 FY14 FY15 VARIANCE Year on Year EBITDA 19,74 36,27 44,50 EBIT 1,63 16,52 22,97 PAT 1,54 10,92 12,03 0% FY13 FY14 FY15 EBITDA 9,16% 14,70% 13,97% EBIT 0,76% 6,69% 7,21% PAT 0,71% 4,43% 3,78%

34 RETURN RATIOS IN RS. PER SHARE IN % 8% % 9 +85% 7% +609% +110% 8 6% 7 5% % 5 4% +244% 3% 4 3 2% 2 1% 0% FY13 FY14 FY15 VARIANCE Year on Year 1 0 ROCE 1,36% 3,67% 6,80% ROI 0,84% 2,89% 6,06% FY13 FY14 FY15 EPS 1,10 7,80 8,59

35 OTHER RATIOS IN RS. PER SHARE RATIO 0,45 +86% % 142 0, , ,30 0, % % 134 0, , , , ,00 FY13 FY14 FY15 VARIANCE Year on Year 124 DEBT EQUITY RATIO 0,08 0,23 0,42 FY13 FY14 FY15 BOOK VALUE 131,03 134,93 141,80

36 SUMMARY KEY RATIOS 16,00% ,5 14,00% 14,70% ,97% 12,00% 246, Rs. crore 215,43 10,00% 200 9,16% 7,21% 8,00% 6,69% 150 6,00% 100 4,00% 4,43% 3,78% 50 2,00% 0,76% 0 0,00% 0,71% FY13 FY14 Total Income EBITDA Margin FY15 EBIT Margin PAT Margin* * Before extraordinary item

37 STRATEGY GOING FORWARD IMPROVE OPERATIONAL EFFICIENCY OPTIMIZATION OF ASSET UTILIZATION INTERNATIONAL BENCHMARKING NEW BUSINESS OPPORTUNITIES BEST IN CLASS IMPROVE OEE (OVERALL EQUIPMENT EFFICIENCY) EVERY PAISA COUNTS FOCUS ON INCREASING CUSTOMER BASE EXPAND PRODUCT BASE TO NEW CUSTOMERS EXPAND PRODUCT BASE TO EXISTING CUSTOMERS OPTIMIZATION OF INVESTMENTS TIMING, EFFICIENCY AND BEST VALUE PROPOSITION REVIEW

38 CONTACT PERSON PPAP AUTOMOTIVE LIMITED NAME ADDRESS TELEPHONE NUMBER Mr. Manish Dhariwal (Chief Financial Officer) / 53 CONCEPT NAME ADDRESS TELEPHONE NUMBER Mr. Anand Lalla / Mr. Parin Narichania anand@conceptir.com; parin@conceptir.com / PLEASE SEE OUR WEBSITE FOR COMPLETE INFORMATION :

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