#1UNO MINDA 60 GLORIOUS YEARS UNO MINDA GROUP MINDA INDUSTRIES LIMITED Investor Presentation February 2018#2Safe Harbor UNO MINDA This presentation and the accompanying slides (the "Presentation"), has been prepared by Minda Industries Limited (the "Company"), solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with any contract or binding commitment whatsoever. No offering of securities of the Company will be made except by means of a statutory offering document containing detailed information about the Company. This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded. Certain matters discussed in this Presentation may contain statements regarding the Company's market opportunity and business prospects that are individually and collectively forward-looking statements. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and assumptions that are difficult to predict. These risks and uncertainties include, but are not limited to, the performance of the Indian economy and of the economies of various international markets, the performance of the auto ancilliary industry in India and world-wide, competition, the company's ability to successfully implement its strategy, the Company's future levels of growth and expansion, technological implementation, changes and advancements, changes in revenue, income or cash flows, the Company's market preferences and its exposure to market risks, as well as other risks. The Company's actual results, levels of activity, performance or achievements could differ materially and adversely from results expressed in or implied by this Presentation. The Company assumes no obligation to update any forward-looking information contained in this Presentation. Any forward-looking statements and projections made by third parties included in this Presentation are not adopted by the Company and the Company is not responsible for such third party statements and projections. UNO MINDA GROUP 2#3UNO MINDA 0000000000 000000000 0000000 0000000 60 GLORIOUS UNO MINDA GROUP 00000000 000000000 00000 0000 ดดดดด ดอก ดดออก 00000 Quarterly Updates K 00 000 YEARS UNO MINDA GROUP 3#4UNO MINDA Q3 FY18 Result Highlights Revenue (Rs. Cr) EBITDA (Rs. Cr) +26% 1,056 +27% 126 Consolidated Revenue growth of 26% YoY driven by: MKAWL Additional Sales YoY MIL Standalone 838 99 99 MJCL MDSL MSBPL Rinder Q3 FY17* Q3 FY18 Q3 FY17 Q3 FY18 44 PAT *(Rs. Cr) Q3 FY17 +37% Margins (%) -EBITDA -PAT * 59 11.9% 12.0% Q3 FY18 6.0% 5.8% Q3 FY17 Q3 FY18 * Revenues net of Excise Duty, * PAT (concern share before OCI) Q3FY18 (* Cr) 62 51 22 22 12 11 Standalone business grew by ~15.5% Y-o-Y (net of battery business, which is hived off to MSBL) Consol. EBITDA Margin expanded by 11 bps to 12%: Lower RMC on consolidated basis Higher capacity utilization in new businesses UNO MINDA GROUP#5UNO MINDA 24.0% 15.9% Revenue* - Q3FY17 Switches 26.0% * Revenues net of Excise Duty Q3 Division Wise Revenue 27.8% 34.1% Revenue-Q3FY18 16.5% 25.9% Lighting Acoustics Others 29.8% UNO MINDA GROUP LO 5#6UNO MINDA 29.3% 13.1% EBITDA-Q3FY17 Switches 27.3% Q3 Division Wise EBITDA 30.3% 36.3% EBITDA-Q3FY18 12.6% Lighting Acoustics Others 20.5% 30.7% UNO MINDA GROUP 6#7UNO MINDA Q3 FY18 End User Revenue Distribution Geography-wise Breakup Channel-wise Breakup Segment -wise Breakup India International 18% 82% OEM Replacement 16% 84% 12Wheeler 4Wheeler 42% 58% UNO MINDA GROUP 7#8UNO MINDA Consolidated Profit & Loss Statement Rs. Cr Revenue from Operations (Net of Excise) Raw Material Employee Cost Other Expenses EBITDA EBITDA Margin Other Income Depreciation EBIT Q3 FY18 1,056.2 Q3 FY17 838.4 YoY % 26% 9M FY18 9M FY17 YoY % 3,099.7 2,489.5 25% 647.3 516.4 1,917.9 1,560.7 141.4 117.7 410.3 332.8 141.1 104.8 407.2 326.9 126.4 99.4 27% 364.3 269.1 35% 11.97% 11.86% 11 bps 11.75% 10.81% 94 bps 7.7 7.6 21.0 10.6 42.0 36.1 116.0 100.2 92.1 70.9 30% 269.3 179.6 50% EBIT Margin 8.72% 8.46% 26 bps 8.69% 7.21% 148 bps Finance Cost 7.0 8.6 21.2 32.0 Profit before Share of Profit/Loss of JVs and Tax 85.1 62.4 36% 248.1 147.6 68% PBT Margin 8.05% 7.44% 61 bps 8.00% 5.93% 208 bps Tax 24.3 12.5 75.2 34.6 Profit before Share of Profit/Loss of JVs 60.8 49.9 22% 172.9 113.0 53% 5.3 2.1 18.0 9.3 66.1 52.0 27% 190.9 122.3 56% Share of Profit/Loss of JVs PAT PAT attributable to: Owners of MIL PAT Margin % - Non Controlling Interests Other Comprehensive Income Total Comprehensive Income for MIL TCI Margin % 59.5 43.5 37% 174.7 108.9 60% 5.63% 5.19% 44 bps 5.64% 4.37% 126 bps 6.6 8.5 16.2 13.4 -2.8 1.5 -1.0 2.1 56.7 45.1 26% 173.7 110.9 57% 5.37% 5.37% -1 bps 5.61% 4.46% 115 bps Total Comprehensive Income for Non Controlling Interests 6.6 8.7 16.2 14.4 UNO MINDA GROUP 8#9UNO MINDA Particulars ASSETS Consolidated Balance Sheet 30th Sept, 2017 Particulars EQUITY AND LIABILITIES 30th Sept, 2017 Non-current assets Property, plant and equipment 896.9 Capital work-in-progress 138.9 Other intangible assets 40.0 Equity Equity Share capital Non Controlling Interest Other equity 17.3 130.0 Investments in subsidiaries, associates and joint ventures 116.8 1,140.0 Sub-total-Shareholders' funds 1,287.3 Financial assets LIABILITIES Investments 0.1 Non-current liabilities Loans 14.0 Financial liabilities Other financial assets 20.9 Borrowings Income Tax assets (net) 5.7 Other financial liabilities Deferred tax assets (net) 24.7 Provisions Other non-current assets 55 Income tax liabilities (net) 124.6 39.3 62.3 0.8 Sub-total - Non-Current Assets 1,313.5 Other non-current liabilities Sub-total - Non-current liabilities 227.0 Current assets Current liabilities Inventories 279.5 Financial liabilities Financial assets Borrowings 236.0 Trade receivables 682.0 Trade payables 627.9 Cash and cash equivalents 230.2 Other financial liabilities 149.6 Bank balances other than Cash and Cash equivalents above 14.8 Other current liabilities 78.2 Other financial assets 18.9 Provisions 11.5 Other current assets 94.2 Current tax liabilities (net) 15.5 Sub-total Current Assets TOTAL ASSETS 1,319.5 - Sub-total Current liabilities 1,118.7 2,633.0 TOTAL - EQUITY AND LIABILITIES 2,633.0 UNO MINDA GROUP 9#10UNO MINDA Group Consolidation Group Consolidation Update: Group Consolidation Status: (Cr) MRPL will become subsidiary of MIL w.e.f. from January 01, 2018 Sr. Company No. Effective Date Consideration Revenue O MRPL is a leader 4W switching Systems FY15 FY16 FY17 FY17 with over 51% market share 1 ASEAN (51%) Jul 2015 26 147 О JV partner: Tokai Rika, Japan 2 MJCL (50%) Aug 2015 14 203 O Purchase consideration: Rs. 95 Cr 3 Kosei Minda Mar 2016 12 193 O FY 17: Sales - Rs. 635 Cr O PAT Rs.37.6 Cr 4 Minda TG Mar 2016 19 35 Denso Ten Minda (49%) and Minda D Ten (51%) is being consolidated will MIL- with effect from January 01, 2018 5 Roki Minda Oct 2016 43 135 6 ASEAN* (49%) Apr 2017 29 O JV Partner: Denso Ten, Japan 7 MI Torica Apr2018 . 8 198 MIL to hive off two wheeler lighting business to Rinder India Private Limited (100% subsidiary) at Book Value with effect from 1st April 2018 MI Torica to be consolidated with effect from Q1 2018-19 8 MRPL Jan 2018 I 95 635 9 D 10 Minda Jan 2018 26 309 Total 71 43 158 * Bought Additional 49% stake in ASEAN in April 2017 UNO MINDA GROUP 10#11UNO MINDA "Re-Aligning" Group Structure... Unified Uno Minda Multiple Group Companies Multiple Joint Ventures Multiple Product Lines Simplify Group Structure Consolidate product lines across UNO MINDA Group under MIL Rationale: Creation of single entity with better financial strength resulting in improved competitive position of the businesses of combined entity Help in cost optimization / operating leverage Enable company to optimize resources resulting in elimination of overlapping activities Appointed KPMG to work on scheme to simplify corporate structure in tax efficient manner ■ Phase-1 Completed Phase -2 underway (to be completed by March 2018) UNO MINDA GROUP 11#12UNO MINDA K 0000000000 000000000 0000000 0000000 00000000 000000000 00000 0000 ดดดดด ดดด ดดออก 00000 About Us 00 000 60 GLORIOUS YEARS UNO MINDA GROUP UNO MINDA GROUP 12#13UNO MINDA Driving Excellence; backed by a winning product portfolio ...... Geographies Operations across 4 Continents Manufacturing Facilities 32 Plants in India Customers Over 50 OEMs served in India and Overseas across 4W, 2/3W and Off Road segments Products Over 20 products supplied to leading OEMS R&D Across the Globe 5 R&D Centres; 14 Design Centres Intellectual Property 145+ Product patents filed/registered 165+ Design Registrations Experience 6 Decades in the Automotive Industry Partnerships with Technology Leaders 10 Joint Venture Partners UNO MINDA GROUP 13#14UNO MINDA An Industry Leader 1 Strong R&D Capabilities UNO MINDA has R&D centres across six locations globally enabling the Company to develop products for OEMs. 2 Strategic Manufacturing Locations Strategically located in all automotive hubs in India Global Presence with acquisition of Clarton Horn, Rinder and consolidation of PTMA & SAM Global Leading from the front 3 5 Long Standing Relationships with OEMs MIL has focused on building multi-year relationships with OEMs resulting in a preferred supplier status 4 Strategic & technology Driven Alliances MIL enjoys strong technological alliances with global leaders like Tokai Rika, Emer, Toyoda Gosei, Kyoraku, Torica, Kosei among others Pervasive Distribution Network including Aftermarket More than 700 business partners and 10,000 touch points ensure that its products reach the farthest corners of India UNO MINDA GROUP 14#15Proven Product Leadership UNO MINDA Automotive Horns Automotive Switches 1 Automotive Lighting World's 2nd largest Horns Player (post acquisition of Clarton Horns) 2 India's largest Switch Player, diversified across the 2W and 4W segments Present in 4W Switches through a JV with Tokai Rika 3 India's 3rd largest Automotive Lighting Player, post-acquisition of Rinder Group. UNO MINDA GROUP 15#16UNO MINDA Staying Ahead of The Curve 1 Focused R&D to Ensure technology readiness 2 Manufacturing Excellence & Capability Building 3 Building Human Capital for a Future Ready Organization Patents 147 - • Strong Process Capabilities: • Design registrations - 168 ⚫ 5 DSIR registered R&D Centres & 14 Design Centres ✓ State of the art SMT Lines & EMS facilities Proven expertise / capability to localize a product at good value proposition • • Strong Leadership for Focussed Scalability, Growth & Profitability Strong Thrust on creating future leaders in association with Deloitte UNO MINDA GROUP 16#17UNO MINDA Pioneer in localization of Auto Components: Through Joint Ventures We have partnered with global technology leaders in the respective product segments B TOKAI RIKA JV with Tokai Rika (Japan) for 4W Switches • JV with Toyoda Gosei (Japan) for Hoses 元 TOYODA GOSEI • JV with Roki Co. for Air Filters JV with Kyoraku for Blow Moulding THE FILTRATION COMPANY ROKI Co., Ltd. KYORAKU CHALLENGE FOR THE BETTER 1992 2001 2008 JV with Emer (Italy) for CNG Kits emer A WESTROW COMPANY JV with Onkyo (Japan) for Infotainment (Sound Amplifier Systems) ONKYO JV with TTE (Taiwan) for Driving Assistance Systems & Products (DAPS) Tung Thih Electroni TTE 同致电子集团 2011 2012 2015 2016 2017 JV with Torica (Subsidiary of Tokai Rika) for procurement of raw materials JV with Kosei (Japan) for Alloy Wheels ser JV with Katolec Japan for Printed Circuit Boards (PCB) and Box Build Assemblies Ka KATOLEC TORICA JV with Fujitsu Ten (Japan) for Car Infotainment Systems FUJITSU TEN UNO MINDA GROUP 17#18UNO MINDA Hedged presence in end user segments Geography-wise Breakup FY17 Channel-wise Breakup FY17 Segment -wise Breakup FY17 India International 19% OEM Replacement 14% 81% 86% 12Wheeler 4Wheeler 39% 61% UNO MINDA GROUP 18#19UNO MINDA Building Shareholder Value year on year... Sales Growth % 38% FY'15 13% FY'16 39% FY'17 Growth without stressing the Balance Sheet... 472 365 Net Worth (Rs. In Crs.) 727 FY15 FY16 FY17 Note: Consolidated Data Acquisitions: Rinder Clarton Horn Strengthening our Balance Sheet 21% 19% 12% EBITDA % ROCE % FY15 FY16 FY17 1033 697 420 Net Fixed Assets (Rs. In Crs) FY15 FY16 FY17 + Joint Ventures: Kosei, Onkyo, TTE, Katolec, TG, Tokarika Debt:Equity 11% 9% 7% FY15 FY16 FY17 0.7 0.6 0.6 FY15 FY16 FY17 + Group Realignment UNO MINDA GROUP 19#20UNO MINDA 0000000000 000000000 0000000 0000000 60 GLORIOUS UNO MINDA GROUP 00000000 000000000 00000 0000 ดดดดด ดดด ดดออก 00000 Business Overview K 00 000 YEARS UNO MINDA GROUP 20#21UNO MINDA Key Milestones for MIL Strategic focus & Excellence Leap 30% Revenue CAGR FY05-FY15 New Products: Blow Molding, Hoses Batteries, Air Filtration Systems Aluminum Die-Casting Fuel Caps Acquisition: Clarton Horns (Horns, Spain) Joint Venture: JV With Kosei Aluminum for Alloy Wheels 39% Revenue growth FY16-FY17 Group Business Consolidation Acquisition: Rinder Group (Lighting, Spain) New Joint ventures: JV with Onkyo Japan (Infotainment) JV with Katolec Japan (Printed Circuit Boards) Going Forward ... Complete realignment of our group structure Invest in the latest technology, focus on R&D and work with the best people Continue our hedged status by being a prominent player in the 2W/3W, 4W segments and Off road Achieve market leadership within each product category Keep pace with increasing electronic content in vehicles (JV with TTE, step in this direction) UNO MINDA GROUP 21 21#22UNO MINDA 3 4 5 2 1 Strong Drivers for Growth Regulatory Norms BS-VI expected implementation by 2020 Indian Passenger Vehicles Segment India's low vehicle penetration (32 vehicles per 1000 people in 2015) currently makes it one of the world's most attractive auto markets. Inflow of Global Investment India becoming a hub for Global OEMs for sourcing and manufacturing and to leverage India's competitive advantage to set up export-oriented production hubs Government Assistance India's projected production is ~8.7mn PVs per year by 2020, driven by projects like 'Make in India' Reforms such as GST Streamlined taxation and other compliance structures to promote the ease of doing business and simplify the flow of goods across territories UNO MINDA GROUP 22#23UNO MINDA The evolution continues... Automotive Lighting Blow Moulding 1950-2000 Automotive Switches 2001-08 Evolution of Our Product Portfolio Batteries Fuel Caps 2010-14 CNG/LPG Kits Automotive Horns Aluminum Die Casting Air Filtration Systems Hoses 2015-16 Speakers & Infotainment 2017..... EMS Services Alloy Wheels Organic Diversification Joint Ventures DAPS UNO MINDA GROUP 23#24UNO MINDA Evolution of EVs: Our Hedged Product Portfolio S. No Product Lines 234567 1 Engine & Transmission Parts Alternate Fuel Systems Air Filtration Systems Canisters Brake Hoses Fuel Hoses Alloy Wheels Seat Belts METL Roki Minda Roki Minda Minda TG Minda TG Minda Kosei TRMN 8 Cameras Safety Parts MFTL, Minda TTE Technologies Company Name Approximate timelines BS VI Apr-20 PEV 2022-25 BEV 2025-2030 ✓ X Δ A X A A X ✓ ✓ A X ✓ ✓ ✓ ✓ ✓ 9 EA Pad MKL 10 11 Steering Wheel with Airbags Fuel Caps TGMN TGMN 12 Lamps MIL-Ltg Div X A Legend ✓ To continue as it is 13 Air Ducts & Washer Bottle MKL Body Parts 14 Spoiler MKL 15 Body Sealings TGMN 16 4W Switches & HVAC MRPL ✓ ✓ A To continue with changes ✓ X A A Obsolete Positively Impacted 17 Cigar Lighters & Chargers MRPL 18 Wheel Covers MRPL 19 Shifters TRMN ✓ ✓ ✓ ✓ X Infotainment Systems 20 (CD Tuners, Display Audio & Audio MFTL 21 Video Navigations) Speakers Minda Onkyo ✓ ✓ Comfort & Reverse Parking Aid Systems & Convenience Parts 22 22 Advanced Driver Assistance Products Minda TTE and Systems 24 25 322222 Sensors MIL-SAC Div A A A Actuators MIL-SAC Div Controllers MIL-SAC Div ✓ A A 26 27 28 Others End to End Telematics & Connected Car Solutions Minda i-Connect Horns Batteries-Lead Acid MIL-Accoustics Div MIL-Battery Div A A A A UNO MINDA GROUP 24 24#25UNO MINDA TVS BAJAJ Ditty Ahead HONDA YAMAHA Filter/Canisters Battery Group product portfolio - 2 Wheeler Horns Handle Bar Assemblies 70 HONDA BAJAJ Datimally Ahead Sensors Noise Suppresser Cap Equalizer Assembly Die Casting Components HONDA TVS Switch business Horns business Light business Others Lamps BAJAJ Distelly Akend ROYAL ENFIELD Switches. BAJAJ Distinatly head HONDA UNO MINDA GROUP 25#26UNO MINDA 4,572 5,162 Kit Value* – 2 Wheelers 6,801 4,308 2,750 Economy Executive Premium Scooter Moped Up to 110 CC 110-135 CC > 135 CC All scooters All Mopeds *Contribution from Group Companies which are not yet consolidated is not included in the Kit Value UNO MINDA GROUP 26#27UNO MINDA Fuel cap Group product portfolio - 4 Wheeler PWS MARUTI SUZUKI Auto HVAC Spoiler H Headlamp levelling MARUTI SUZUKI CNG Kit LED lamps MARUTI SUZUKI Mahindra Rise. Hoses EN motor Electronic Horn оо W DAIMLER Alloy wheels MARUTI SUZUKI Electronic accelerator pedal module H Switch business Horns business Light business Others MARUTI SUZUKI Mahindra Rise. NO MINDA Batteries ENOMINA UNO MINDA GROUP 27#28UNO MINDA Values in INR 16,393 28,406 Kit Value* - 4 Wheeler PVs & Tractor 38,064 A B C 54,383 66,879 3,378 E & MUV Tractor Up to Rs. 2.2 Lacs Rs. 2.21 4.5 Lacs Rs. 4.5 8.3 Lacs Rs.8.4-16 Lacs >Rs 16 lacs Off Road *Contribution from Group Companies which are not yet consolidated is not included in the Kit Value *Potential is calculated n basis that all products manufactured by the group is supplied in the vehicle. UNO MINDA GROUP 28#29UNO MINDA Others 26%. Horns 17% Revenue FY17* Rs. 3,505 Crs. Switches 32% Product Mix Others 32% EBIDTA FY17* Rs. 384 Crs. Switches 30% Lighting 22% Horns 17%. Lighting 25% Note: Consolidated Data * Financials as per IGAAP - UNO MINDA GROUP 29#30UNO MINDA Customer led and Customer Oriented Maximize Customer Value Switching Systems Continuously striving towards an optimum product mix to maximize content per vehicle Hedged across segments and improved operating levers due to our Technology Tie ups and acquisitions Constant focus on strengthening our customer relationships to enhance profitability Note: Consolidated Data Others 52% MSIL Bajaj Auto 28% Others 40% Lighting Systems Acoustics Systems Daimler MSIL 19% 9% Hyundai 7% PSA 4% Bajaj TVS Auto 7% HMSI 7% Toyota Boshoku Automotive 5% Bajaj 4% Auto TVS Others 16% Motors 73% 3% M&M TVS Motors Hero 3% Royal Enfield 3% 7% 13% Alloy Wheels (MKA) Suzuki Motors... 90% M&M 5% TVS Motors 22% Die Casting (MJ Casting) WABCO India 10% Others 30% Blow Molding MSIL 23% Honda HMSI 68% TKML Crs India 23% 9% Renault Nissan 15% UNO MINDA GROUP 30#31UNO MINDA Indian's Largest Manufacturer • Market Share of ~67% • • Independent in-house R&D Exports to USA, France, Italy, Austria and others contributing ~6% to Switch sales in FY17 End Use Segment • 2/3 Wheeler & Off-road • Present in 4W switches through associate company (MRPL) Switching Systems Key Customers: HMSI, Bajaj, HMCL, TVS, REML & Yamaha Manufacturing Facilities * Financials as per IGAAP Note: Consolidated Data • Manesar • Pune • • ASEAN Entities: Pantnagar Hosur Aurangabad • Indonesia • Vietnam 1200 9.4% 1000 Rs. In Crs 9.8% 10.0% 9.0% 800 8.0% 1035 1167 600 7.0% FY16* FY17* Revenue EBIDTA Margin % 2W Switches Handle Bar Assembly Offroad Switches UNO MINDA GROUP 31#32UNO MINDA Leading automotive lighting Systems • . • Strong R&D capabilities with Design centre in Taiwan and Technical Arrangement with Korean Company Exports to Italy, Indonesia, France, Japan and others Contributing 8% to Lighting Sales in FY16 Access to R&D Base of Rinder in Spain End Use Segment • 2/3 Wheeler, • 4Wheeler • Off-road Key Customers: Lighting Systems Maruti Suzuki, Bajaj, TVS, REML, Renault Manufacturing Facilities * Financials as per IGAAP Note: Consolidated Data Pantnagar Sonepat Haridwar Chennai Rinder's Facilities (India): • Chakan & Pimpri in Pune Bahadurgargh Rinder's Facilities (Overseas): Columbia Design Centre in Spain Rs. In Crs. 9.1% 1000 7.5% 9.0% 800 7.0% 600 400 5.0% 200 3.0% 439 927 0 1.0% FY16* FY17 ^* Revenue EBIDTA Margin % ^ Consolidation of Rinder UNO MINDA GROUP 32#33UNO MINDA One of India's Largest Players in Horns With 47% market share . Strong in-house R&D capabilities - Developed • technology with FIAMM, Italy Acquired Clarton Horn which has Revenue of Rs. 396 Crs in FY17 End Use Segment . 2/3 Wheeler, Acoustic Systems • • 4Wheeler, Off-road and Commercial Vehicles Key Customers: Daimler, Hyundai, Bajaj, TVS, MSIL & REML Manufacturing Facilities * Financials as per IGAAP Note: Consolidated Data Clarton Horns Facilities: Spain Manesar Pantnagar • • Morocco • Mexico Rs. In Crs 700 10.2% 11.0% 9.5% 10.0% 600 9.0% 500 8.0% 400 7.0% 520 623 300 6.0% FY16* FY17* Revenue EBIDTA Margin % UNO MINDA GROUP 33#34UNO MINDA Products India's largest manufacturer of Alloy Wheels for 4Wheelers Other products • Blow Molding . Dye Casting . • Fuel Caps • Speakers & Infotainment . • Air Filtration System Hoses Batteries End Use Segment • 2Wheelers, 4Wheelers, Commercial Vehicle Key Customers: MSIL, HMSI, TVS, Wabco, Mahindra, Toyota Kirloskar Motors & Renault Nissan * Financials as per IGAAP Note: Consolidated Data Other Products Manufacturing Facilities Hosur Die Casting Bawal Filters, Hoses, Allow Wheels, Die Casting, Blow molding Bangalore Blow Molding, Filters . Manesar Fuel Caps, . Chennai & Gujarat - Allow Wheels & Filters Pantnagar( Minda Storage Battery) 1000 800 9.2% 637 Revenue Rs. In Crs 13.0% 933 409 10.0% 600 362 129 400 5.0% 200 92 395 183 0 0.0% FY16* FY17* Others Blow Molding Alloy Wheels& Die Casting EBITDA Margins Alloy Wheels Speaker Blow Molding UNO MINDA POWER a ΠΑ E Hoses POWER Fuel Cap Battery UNO MINDA GROUP 34#35UNO MINDA O Jammu and Kashmir: 8 O Himachal Pradesh: 24 Punjab: 26 O Uttarakhand: 6 Haryana: 41 O Delhi: 33 Rajasthan: 51 O UP: 62 Bihar: 55 MDSL : Strong Presence in Replacement Market Product (Rs.Crs) FY17 % of total After Market After Market Sales * Sales Switches 147 32% Lighting 136 29% Assam: 10 Horns 78 17% O Gujarat: 48 OMP: 45 OJharkhand: 20 Chhattisgarh: 14 O -West Bengal: 51 O Orissa: 24 Maharashtra: 86 O O Telangana: 14 Goa: 1 O O Andhra Pradesh: 25 Karnataka: 45 O Kerala: 23 Tamil Nadu: 52 Maps not to scale. All data, information, and maps are provided "as is" without warranty or any representation of accuracy, timeliness or completeness * Financials as per IGAAP Others 101 22% Revenue* (Rs.Crs) 297 247 CAGR of 16% 438 453 372 FY13 FY 14 FY15 FY16 FY17 UNO MINDA GROUP 35#36UNO MINDA 0000000000 000000000 0000000 0000000 60 GLORIOUS UNO MINDA GROUP 00000000 000000000 00000 0000 ดดดดด ดดด ดดออก 00000 Historical Financials K 00 000 YEARS UNO MINDA GROUP 36#37UNO MINDA Consolidated@ Improving Profitability with Strong Balance Sheet Revenue 27% CAGR 2,527 2,227 1,706 1,340 Rs. Crs EBITDA & EBITDA Margin (%) 500 10.9% 12.0% 3,505 9.4% 400 6.9% 384 8.0% 300 7.0% 5.1% FY13 FY14 FY15# FY16 FY17 0.5 FY13 @Financials as per IGAAP Debt: Equity 0.9 0.7 0.6 0.6 FY14** Notes; FY15 FY16 # FY15 Sales inclusive of 15M Clarton Sales FY17^ * FY14 EBITDA is Adjusted for acquisition related one-time expenses ** FY14 debt increased on account of acquisition related debt ^ Excluding Money raised through QIP - Rs. 300 crores 200 238 100 154 93 88 4.0% 0.0% FY13 FY14* FY15 FY16 FY17 7% 3% ROCE (%) 21% 18% 12% FY13 FY14 FY15 FY16 FY17 UNO MINDA GROUP 37#38UNO MINDA 28 Consolidated PAT* 68 111 168 Strong Cash Flows 95 42 23 Consolidated OCF* 156 146 Rs. Crs 339 FY13 FY14 FY15 FY16 FY17 FY13 FY14* FY15 FY16 FY17 * Financials as per IGAAP UNO MINDA GROUP 38 38#39UNO MINDA Improving Dividend Profile Dividend as % of Face Value 30% 30% 30% 110% Interim Dividend 70% 60% 60% FY12 FY13 FY14 FY15 FY16 FY17 FY18* *Board has recommended Interim Dividend of Re. 1.2 per share (60% of FV) UNO MINDA GROUP 39 39#40UNO MINDA Rs. Crs Sales Other Operating Income Total Operating Income Cost of Material consumed Employee Cost Other Expenses Operating EBITDA Margin Consolidated Profit & Loss Statement [as per IGAAP] FY17 FY16 YOY 3,467 2,506 38 21 3,505 2,527 39% 2,174 1,610 462 326 485 353 384 238 61% 10.94% 9.41% Other Income Interest Depreciation 13 14 39 26 136 93 PBT before exceptional item 222 Margin 6.35% 134 5.28% 67% Exceptional Item** 0 5 PBT Margin 222 6.35% 139 60% 5.49% Tax 49 28 PAT After Minority Interest 168 111 51% Margin 4.80% 4.40% EPS (In Rs.)* 21.2 14.0 Cash PAT 304 204 49% Margin 8.67% 8.06% * Face Value of Rs.2 per equity share ** Exceptional item pertaining to profit on sale of land in PT Minda Asean UNO MINDA GROUP 40 40#41UNO MINDA Consolidated Balance Sheet [as per IGAAP] Rs. Crs. Mar-17 Mar-16 Rs. Crs. Mar-17 Mar-16 Shareholder's Fund 727 472 Non-Current Assets 1,158 787 Share capital 16* 19 Fixed assets 1,033 697 Reserves & Surplus 609 452 Goodwill 0 6 Capital reserve on consolidation 103 0 Non Current Investments 55 44 Share application money pending 300 0 allotment Deferred tax asset 13 33 Minority Interest 139 110 Long-term loans and advances 51 25 Non-current liabilities 267 212 Long term borrowings 190 169 Other Non-Current Assets 6 00 8 Other long-term liabilities 8 9 Current assets 1,253 700 Long Term Provisions 69 34 Inventories 251 184 Current liabilities 978 694 Trade receivables 524 364 Short term borrowings 262 184 Cash and bank balances 377 57 Trade Payables 515 321 Short-term loans and advances 89 87 Other current liabilities 184 169 Short-term provisions 17 19 Other current assets 13 8 Total Equity and Liabilities 2,411 1,487 Total Assets 2,411 1,487 * The Parent Company has redeemed 35,00,000 3% cumulative redeemable preference share of Rs.10 each at Face Value during the current quarter. Consequently, an equivalent amount was credited to the Capital Redemption Reserve. UNO MINDA GROUP 41#42UNO MINDA Board Of Directors Leadership Team Mr. Nirmal K Minda Chairman & Managing Director Mr. Sudhir Jain Group CFO Mr. Anand K Minda Mr. Satish Sekhri Mr. Alok Dutta Ms. Renu Challu Mr. J.K. Menon CEO, Electrical & Electronics Domain Top Management Team Mr. Anand K Minda ED & CEO, Battery & Aftermarket Business Mr. Rajeev Kapoor Group Head Human Resources Mr. Pradeep Tiwari CEO, Body & Structure Domain Mr. Ravi Mehra CEO, Interior, Controls & Safety Domain Mr. Kundan K Jha CEO, Light Metal Technology Domain UNO MINDA GROUP 42#43UNO MINDA Group Holding Structure DOMESTIC SUBSIDIARIES Minda Kyoraku (68%) MJ Casting (98%) MACL (100%) MDSL (100%) Minda katolec (51%) MKAWL (70%) Minda TG Rubber (51%) Rinder India (100%) MI Torica (60%) MSBPL (100%) YA Auto (51%) Minda Rika P Ltd (51%) Glossary: OVERSEAS SUBSIDIARIES Sam Global (51%) Minda Vietnam (100%) PT Minda Asean (51%) PT Minda Trading (100%) Global Mazinkert (100%) Light & Systems Technical centre (100%) Clarton Horn (100%) MACL: Minda Auto Component Limited MDSL: Minda Distribution and Services Limited MKAWL: Minda Kosei Aluminum Wheel Private Limited MSBPL: Minda Storage Batteries Private Limited METL: Minda Emer Technologies Limited MNGTL: Minda NextGen Tech Ltd KMAC: Kosei Minda Aluminum Company Pvt Ltd JV & ASSOCIATES MNGTL (26%) KMAC (30%) Auto Component (49%) Yogendra Engineering (49%) Minda Emer Tech. (49%) Rinder Riduco (50%) ROKI Minda Co. (49%) MINDA TTE DAPS (50%) Minda ONKYO (50%) DENSO TEN Minda (50%) UNO MINDA GROUP 43#44UNO MINDA For further information, please contact: Company: Investor Relations Advisors : Minda Industries Ltd. CIN L74899DL1992PLC050333 Mr. Tripurari Kumar DGM Strategy & Finance [email protected] Strategic Growth Advisors Pvt. Ltd. CIN U74140MH2010PTC204285 Mr. Jigar Kavaiya / Mr. Rohan Adhiya +91 99206 02034 / +91 98332 19522 [email protected]/[email protected] www.mindagroup.com www.sgapl.net UNO MINDA GROUP 44