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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
PROPERITY & CONFIDENTIAL JTEKT India Limited 2
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
Page 3
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%
PROPERITY & CONFIDENTIAL JTEKT India Limited 4
Page 5
Performance Review- Merged
Financials
PROPERITY & CONFIDENTIAL JTEKT India Limited
Revenue Operating Profit & Margin PAT & PAT Margin
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%
PROPERITY & CONFIDENTIAL JTEKT India Limited 6
Page 7
Performance Review-
Consolidated
PROPERITY & CONFIDENTIAL JTEKT India Limited
Revenue Operating Profit & Margin PAT & PAT Margin
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.
PROPERITY & CONFIDENTIAL JTEKT India Limited 8
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)
FY-18 Full Year FY-19
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)
FY-18 Full Year FY-19
10%
YOY
Page 9
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
Standalone Merged Entity
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
Standalone Merged Entity
2.96 3.27 3.52
-
1.00
2.00
3.00
4.00
5.00
6.00
FY-18 FY-19 FY-19
Standalone Merged Entity
Fixed Assets Turnover RatioOperating Profit
PROPERITY & CONFIDENTIAL JTEKT India Limited
Page 10
Operational Highlights
PROPERITY & CONFIDENTIAL JTEKT India Limited
Product Wise Sales Mix* Geographic Sales Mix Product Revenue Breakup
Product Wise & Geographic Sales Mix
PROPERITY & CONFIDENTIAL JTEKT India Limited
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
Page 12
Financial Statements
PROPERITY & CONFIDENTIAL JTEKT India Limited
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%
Page 14
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.
PROPERITY & CONFIDENTIAL JTEKT India Limited14
Page 15
About JTEKT Corporation Japan
PROPERITY & CONFIDENTIAL JTEKT India Limited15
Page 16
� 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
Page 17
The Journey Begins Now