Investor
Investor
Investor
Interior System
Instrument Clusters Sensors Wiring Harness Locks Door Handles Starter Motors Al & Zn Cutting Parts Plastic Component
Agenda
• Strategic Overview
• Business Overview and Financials
• Marketing and Technology
2
“Transform and Rise”
Minda Corporation is a leading automotive component supplier to Indian and Global OEM’s
Growth Drivers
#1 #2 #3 #4
5
We Will Continue to Focus on
Enhancing Shareholders’
Wealth
6
Agenda
• Strategic Overview
7
One of India’s Leading Automotive Component Companies
with Global Footprint
Diversified product portfolio, global customers, strong Revenue Breakdown 9M FY2019
manufacturing, and advanced R&D with six decades of
automotive experience By Geography By End Market
2-3
Ashok Leyland, Bajaj Auto, CNH, Daimler, Wheelers
Hero Moto Corp, , Honda Motorcycle and India 38.2%
Scooter India, Mahindra & Mahindra, Maruti 69.1%
Key Customers
Suzuki, Suzuki Motorcycle, TVS Motor, Tata
Motors, VE Commercial Vehicles, By Business Segment
Volkswagen, Yamaha Motor
Inerior
Manufacturing 34 Manufacturing facilities strategically Systems
Facilities located globally providing support to OEMs 20.8%
Safety
Security &
Advanced Engineering Centre of Electronics Restraint
R&D Capabilities & Mechatronics in Pune and multiple Systems
specialised R&D Centre across India Driver 45.9%
Informatio
n&
Market Capitalisation Approx. Rs. 33,500 mn Telematics
(as of 31st December 2018) Systems…
1,671
30,411 2,920
2,729 1,417
25,934 1,284
23,206
2,102
20,598
1,887
1,021
10.5%
9.2% 9.6% 9.1%
5.4% 5.4% 5.5%
4.9%
FY17 FY18 LTM Dec 19 9M FY19 FY17 FY18 LTM Dec 19 9M FY19 FY17 FY18 LTM Dec 19 9M FY19
Notes:
• Revenue including Minda Corp Subsidiaries and Joint Ventures for LTM Dec 19 is Rs. 41,592 million
• IND-AS are applicable to Minda Corporation from 1st April 2017 with transition date of 1st April 2016
9
Business Vertical Performance
Rs. mn
Safety Security & Restraint System Driver Information & Telematics System Interior System
14,148
12,158 9,941
10,330 10,662 6,321
8,327
7,710 5,449
4,834
6120 4148
12.0% 12.3%
10.4% 11.1%
9.3% 9.8% 10.2% 9.9%
10.2%
6.3%
3.2%
0.6%
FY17 FY18 LTM Dec-18 9M FY19 FY17 FY18 LTM Dec-18 9M FY19 FY17 FY18 LTM Dec-18 9M FY19
Notes:
1. IND-AS are applicable to Minda Corporation from 1st April 2017 with transition date of 1st April 2016
2. The above are indicative figures
10
Strong Balance Sheet with Steady Returns
0.95x
17.2% 0.81x
15.9%
13.9%
0.38x
Note:
• IND-AS are applicable to Minda Corporation from 1st April 2017 with transition date of 1st April 2016
11
Consistent Dividend Payout and Ratings Upgrade
20%
A+
10% 10% 10%
12.5% 12.5%
Stable
FY2015 FY2016 FY2017 FY2018 FY2019*
Interim Dividend
12
Agenda
• Scheme of Merger
13
Scheme of Merger of Domestic subsidiaries (WoS)
Present scheme of merger will not result in expansion of equity capital or change in shareholding pattern of MCL
14
Current Group Operating Structure
15
Agenda
16
European Auto Industry Facing Challenges
EU Car Registrations down Month on Month
In December 2018, the EU passenger car market declined for the fourth month in a row. Last
month registrations fell by 8.4%, continuing the downward trend that started with the
introduction of WLTP in September. With the exception of Italy (+2.0%), all major EU markets
saw demand for cars contract during the last month of the year.
17
Minda KTSN Europe
Snapshot Minda KTSN Product Portfolio
Manufactures Interior Plastic Products-
Cupholder, Glovebox, steering column
shrouds etc
Marquee Customers including VW, Audi,
BMW, Daimler, Porsche and Tier 1 suppliers Steering Column Cup Holder
Challenges
Impacted by WLTP emission norms, general
Industry slowdown, customer concentration
High Breakeven point, Increasing input
cost, constraint in passing on raw material Glove Box Seat Panel
cost to customer
Countermeasures
To diversify Customer base
Focus on cost reduction program
Converting fixed cost to variable/semi-
Middle Arm Rest
variable Oil Sump
Strengthening the management team
18
Agenda
• Strategic Overview
• Business Overview and Financials
19
Diversified Customer Portfolio
Volvo
JLR
BMW
VW
Group
Yamaha
Piaggio
M&M
Maruti
Suzuki
Bajaj
TVS
Ford
Tata
Motors
Harley
Davidson Ashok
Leyland
Renault
Hero Nissan Honda
20
Growth Factors / Key Focus Areas / Inorganic
21
Guiding Force - Automotive Mission Plan 2026
22
Outperforming the Industry Growth
Source : SIAM
23
Revenue Breakdown 9M FY2019
Passenger
South East After Market
Vehicles
Asia 9.7%
20.8%
4.8%
Europe &
North
America Commercial
26.0% Vehicles
31.4%
Safety
Security &
Restraint
Systems
45.9%
Driver
Information &
Telematics
Systems
33.2%
24
Exports Long Term Focus
Existing
1. Aluminum
Castings 1. 2W & ATV 1. Europe
2. W/H & Connector 2. Tractors & Farm Equipment 2. North America
3. Starters & 3. Tier 1 3. ASEAN
Alternators
4. Security Systems New
LTM Dec 18
Rs. 240 Cr.
1. Turkey
CAGR 30%
Market Leader for Wiring Harness in CV, 2W and Tractor segment in India
(>30% Market Share each)
26
Future Market Situation (Content per Vehicle) – Domestic
2X
2X
Segment Wise
Movement Technology
Roadmap
1.5X
4X
2X
2W 3W CV PV TRACTOR
FY18 FY22
27 Note: Content Per Vehicle are illustrative and based on assumption that all products manufactured by the Group are supplied to a vehicle in India
Agenda
• Technology
28
Mega Trends Leading to Opportunities
Electronification ( Implementation )
Regulatory ( Push )
SW as a differentiator Vehicle Emission BSVI
31
Evolution of vehicle access technology
BLE
Immobilizer Gesture based Artificial
Key less entry System Intelligence
With Remote / Smart access
Ignition Key Key Entry ( PEPS )
32
Evolution of vehicle access technology
Smart Key
2w
Two Types of Smart Key Systems developed – Knob Type and
Automatic
Content per Vehicle Knob Type : 3X & Automatic :6X
5 Programs acquired, 1st SOP from Oct 2019
Reliability Reliability
Basic Features Enhanced Features
34
Wiring Harness : Technology & complexity increase
by ~
2.5X
needed •Shielded cables Special Circuits
• Motorized linear
travel
• RTD elements • Perfect replacement
• PT1000 , PT 200 option for cable latch
• Hall / MR based systems
• PM sensor –
• Direction • Rated life 100k
Platinum impedance
• NTC • NTC + WIF + detection cycles for std force
sensor
• VR and Hall Heater • Linear output
• OBD checks
• Wire wound / • Key on response • Capacitive , Reed
TFR • Self check type
Advanced sensing and actuation applications, Group is prepared well to address Regulatory,
Technological and Future requirements, e.g., 2W-EFI system, BS6 emissions, etc.
36
Electric Mobility Solutions
37
Spark Minda : EV Products Strategy ( Non-legacy )
Motor : 600W – 3 kW
Battery Charger
Peak Speed : 25km – 80 km
Products ≤ 3 KW
Motor Controller
38
Evolution of EV in India : 2W / 3W solutions
Content Per Vehicle
~ INR 5150
Battery Charger
Battery Charger : 190V-270V AC
DC-DC Converter
DC-DC Converter : 12V, 120 & 240 W OEM acquisition
Project Status ongoing, Likely SOP
from Dec 2019
Project Status Vol. ramp-up in 2019
Motor Controller
Telematics
Motor Controller: 600 W - 3KW Telematics
39
Evolution of EV in India : Entry level PC solutions
Content Per Vehicle
~ INR 20000
Battery Charger
Telematics
Battery Charger : 190V-270V AC
Telematics
Project Status Launch by M’2020
Additional customer
Project Status acquisition in EV
ongoing
DC-DC Converter
Product Developed & in Mass Production
DC-DC Convertor : 12V, 1-1.5KW
40
Connected Mobility
Solutions
41
Connected Mobility Solutions
Driver SOP
LOI Behavior
Fleet
Service Manage-
Alert ment
Remote
Services Anti
e-Call
FMS Theft SOP
SOP
Shared
Mobility Women
Safety
Fuel
Data Pilferage
SOP Analytics POC
LOI : Letter of Indent
SOP: Start of production
POC : Proof of concept ready
AIS140 certified
Group has developed various IP’s and use cases which are moving to SOP
42
Integrated Tracking System (ITS 1.0)
Features
TBCU Store up to 150 routes with 150 stops in each route
GPS
GPS location synchronization
Synchronized Audio and Visual information inside bus
Multi Lingual display with display intensity control
User friendly software to download / modify / create
Smart Phone route data in the console through PC
Interface with
the Console
unit for route
upload Single Console Unit
USP’s
synchronization to Single console unit with built in audio amplifier
four display boards
Smart Phone Interface
Telematics Integrated vehicle / bus tracking device
Multiple audio announcement option
Single console
unit with built in Integrated display board ( 4 Nos )
audio amplifier
Multiple audio
Spark Minda is engaged with leading
announcement commercial vehicle OEM, Product launch by
option Nov’ 2019
Cost effective solution being worked out to disrupt the todays market
43
Electronification &
Regulatory Solutions
44
Commercial Vehicles : Regulatory Driven Solutions
AIS-135 standard
AIS-140 standard
Reverse Parking & driver assistance systems
AIS-145 standard RFQ’s received from OEM’s
Spark Minda is working to deploy various new tech. products by Nov 2019
45
Two Wheeler : Electronification Solutions
Instrument Cluster
Smart Key with ESCL
Body Control Module
Answer Back System
BT based Navigation device
Content per 2w :
Integrated Starter Generator System
Immobilizer
~ INR 7000
Development in progress
Ready to engage with OEM
46
Tractor : Electronification Solutions
Digital RSAS
EHPTO
Clusters
Blue-eye
Flasher
Safety Controller
Various Sensors
•
Hitch Level
•
• EGT (BS-VI)
Fuel level (BS-VI)
Content per
BCM VCU • Ambient Air Temperature vehicle
(BS-VI) INR 10,400
Development in progress
Ready to engage with OEM
47
Passenger Cars : Electronification Solutions
Instrument Cluster
ESCL
Body Control Module
RPAS
iRIS 1.5 / 2.0 Content per vehicle
~ INR 6,500
Immobilizer
Development in progress Ready to engage with OEM
48
Executive Summary
2 Identify the opp. in EV and Connected Mobility and be the front runner
Spark Minda is exploring the strong partnership with OEM’s for the
futuristic and new technology products
49
“Transform and Rise”
While these forward looking statements indicate our assessment and future expectations concerning the development of our business, a number of
risks, uncertainties and other unknown factors could cause actual developments and results to differ materially from our expectations.
These factors include, but are not limited to, general market, macro-economic, governmental and regulatory trends, movements in currency
exchange and interest rates, competitive pressures, technological developments, changes in the financial conditions of third parties dealing with
us, legislative developments, and other key factors that could affect our business and financial performance.
Minda Corp undertakes no obligation to publicly revise any forward looking statements to reflect future / likely events or circumstances.
Corporate Office:
INVESTOR RELATIONS CONTACT
Plot No: 404-405, 5th Floor, Udyog Vihar, Phase-III
Sector - 20, Gurugram - 122016 Bikash Dugar Ravi Gothwal / Vikas Luhach
Tel: +91 124 469 8400 • Fax: +91 124 469 8450 Lead-Investor Relations Churchgate Partners
Minda Corporation minda@churchgatepartners.com
Registered Office: Bikash.dugar@minda.co.in +91 22 6169 5988
Town Hall - Presentation
A–15, Ashok Vihar, Phase – 1, Delhi – 110 052 +91 124 469 8485
51