results press release, result presentation for march 31, 2016 [result]

Earnings release for immediate publication

Motherson Sumi Systems Ltd. crosses INR 10,000 Cr Quarterly revenues benchmark and posts Q4 net profit of Rs. 414 crore, up by 22%.

Noida, Uttar Pradesh – 17 May 2016 – Motherson Sumi Systems Limited (MSSL) today announced financial results for its fiscal 2015-2016 fourth quarter, which ended on 31 March 2016, as well as results for the fiscal year 2015-16.

Q4 FY15-16

Strong performance across the board leads to new Q4 company records

MSSL posted record consolidated quarterly revenues of INR 10,068 crores and consolidated quarterly profit after taxes (PAT) of INR 414 crores or Rs 3.13 per share, as against a revenue of INR 9,322 crores and PAT of INR 340 crores or Rs 2.57 per share in the same quarter in the previous year. It is the first time in the company history that it achieved revenues of more than INR 10,000 crore in a quarter. MSSL standalone revenues for the quarter grew by almost 14%.

“ We are very grateful for the trust our customer have reposed in us which has helped us in setting up a new benchmark of more than INR 10,000 crores in revenues in a quarter”, said Vivek Chaand Sehgal, MSSL’s Chairman.

Highlights Q4 FY15-16 Highlights 12M FY15-16

• PAT up by 22% on account of overall performance by all business divisions

• Revenues up by 8% due to healthy growth in Indian & global businesses

• EBITDA up by 14% backed by strong continued improvement in SMR

• PAT up by 48%

• Revenues up by 10%

• EBITDA up by 19%

• Consolidated ROCE is at 27% • All time high ROCE for Standalone at 43%,

SMR at 42%, achieved more than 40% ROCE for the

first time • New orders worth Rs. 66,000 crores approx. during

the year at SMRP BV (including Rs. 46,000 crores

approx. orders declared earlier during the year) • Total order book of Rs. 100,000 crores approx. at

SMRP BV


Q4 FY15-16 CONSOLIDATED FINANCIAL PERFORMANCE

INR Crore Q4

FY15 FY16 Growth (%)

Revenue 9,322 10,068 8% EBITDA 932 1,061 14% PBT 620 652 5% Net Profit 340 414 22% EPS 2.6 3.1 22%

12M FY15-16

Strong performance sets company on track to achieve 2020 targets

For the whole fiscal year 2015-16, MSSL posted consolidated revenues of INR 38,033 crores and a consolidated PAT of INR 1,274 crores or Rs 9.63 per share, as against a revenue of Rs INR 34,490 crores and PAT of INR 862 crores or Rs 6.52 per share for the previous financial year.

“It has been a good year to further enhance our performance. We are seeing huge capacity expansion at SMP at the request of customers. Operational improvements have been put in place and we have an exciting innovation pipeline, across MSSL companies”, said Vivek Chaand Sehgal, MSSL’s Chairman.

Standalone revenues crossed INR 5,000 crores in a year at INR 5,234 crores. SMR posted revenues of EUR 1.46 billion, up by 14% compared to previous year.

“We are thrilled with SMR’s achievement of 42% ROCE”, said Vivek Chaand Sehgal, MSSL’s Chairman. “To go from a negative ROCE in March 2009, when we took over the company to 42% today is an unbelievable performance by the team and demonstrates the value of the Motherson philosophy”.

The cash flows have been very strong – the company has funded capex of INR 2,024 crores from internal accruals – the balance sheet is healthier with net debt at 1.16 times of annual EBITDA, in-spite weakening of INR against Euro as at year end.

Overall, the results show that MSSL has strengthened its foundations, in this first year of its 5th five-year plan for 2020. Consolidated results as well as standalone, SMP and SMR results show that MSSL is on strong footing. Growth is strong and operational improvements are paying off.


12M FY15-16 CONSOLIDATED FINANCIAL PERFORMANCE

INR Crore Financial Year

FY15 FY16 Growth (%)

Revenue 34,490 38,033 10% EBITDA 3,195 3,803 19% PBT 1,974 2,435 23% Net Profit 862 1,274 48% EPS 6.5 9.6 48%

About Motherson Sumi Systems Limited

Motherson Sumi Systems Limited (MSSL) is one of the world’s fastest growing specialised automotive component manufacturing company for OEMs. MSSL is the flagship company of the Samvardhana Motherson Group, established in 1986. It is a joint venture between Samvardhana Motherson Group and Sumitomo Wiring Systems (Japan). MSSL is a focused, dynamic and progressive company providing customers with innovative and value-added products, services and solutions. The acquisition of mirror business from Visiocorp (now renamed as Samvardhana Motherson Reflectec) and Peguform (now named Samvardhana Motherson Peguform) has helped MSSL evolve as one of the world’s leading manufacturers of automotive rear view mirrors and a leading manufacturer of instrument panels, bumpers and door trims in Europe. With a diverse global customer base comprising of almost all leading automobile manufacturers globally, the company has a presence in 25 countries across six continents. MSSL is currently the largest auto ancillary in India and also ranked 55th in global auto component suppliers. For any details, please visit http://www.motherson.com (CIN-L34300DL1986PLC026431)

Note – all the numbers in the press statement are consolidated, unless stated otherwise

For more details on earnings, please refer to http://www.motherson.com/financial-‐results.html For other details on Motherson Sumi Systems Limited, please contact: Mr. G. N. Gauba Mr. Pankaj Mital CFO, Motherson Sumi Systems Limited COO, Motherson Sumi Systems Limited Telephone – 0120- 6679500 Telephone – 0120- 6679500 Email - [email protected] Email - [email protected] Mr. Dharmanshu Chaturvedi / Mr. Rahul Deep Corporate Communications, Motherson Sumi Systems Limited Telephone – 9873662460 / 9910085201 Email - [email protected]; [email protected]

Mr Saurabh Saxena / Ms. Ramita Khurana Adfactors PR Pvt. Ltd. Mobile – 09810233370 / 09999798730 Email - [email protected]

Proud to be part of.

Presentation on Results Q4 & 12 Months FY 2015-16

17th May 2016

MSSL Presentation on Results Q4 & 12M FY15-16 2

• Highlights & Results Q4 vs Q4

• Highlights & Results FY15-16 vs FY 14-15

• Debt status

MSSL Presentation on Results Q4 & 12M FY15-16

Highlights Q4 FY15-16 vs Q4 FY14-15

3

Standalone Consolidated

Total Sales

8%

PBT

5%

Sales (outside India)

7%

EBITDA

14%

PAT

22%

Sales (within

India)

15%

Total Sales

14%

PBT

38%


15%

EBITDA

16%

PAT

61%

Sales (within

India)

13%

MSSL: Motherson Sumi Systems Ltd; SMRP BV : Samvardhana Motherson Automotive Systems Group BV, SMR: Samvardhana Motherson Reflectec; SMP: Samvardhana Motherson Peguform


Highlights Q4 FY15-16 vs Q4 FY14-15

4

EBITDA

14%

Total Sales

4%

2%

PAT

24%

EBITDA

26%

Sales

7%

EBITDA

20%

Sales

2% 2%

PBT

20%



MSSL Consolidated : Q4 FY 2015-16 vs. Q4 FY 2014-15

932 1,061

10.0% 10.5%

14%

400

600

800

1,000

Q4 FY 2014-15 Q4 FY 2015-16

EBITDA % of Sales

(Rs.

in C

rore

s)

(Rs.

in C

rore

s)

(Rs.

in C

rore

s)

{* Before exchange loss} {# concern share after exchange loss}

Sales EBITDA* / % to Sales PBT * & PAT#

5

620 652

340 414 5%

22%

-

100

200

300

400

500

600

700

800

900

1,000

Q4 FY 2014-15 Q4 FY 2015-16

PBT PAT

1,356 1,553

7,966 8,515

9,322

8%

-

2,000

4,000

6,000

8,000

10,000

Q4 FY 2014-15 Q4 FY 2015-16

Within India Outside India Total

10,068

Record sales of over

Rs.10,000 crores in a quarter Sales

within India

15%

Sales outside India

7% (Rs. Crores) Q4

2014-15 Q4

2015-16

Exchange Loss / ( Gain ) on Long Term Facilities (5) 1

* Note


1,070 1,212

182 210

1,252 1,422

14%

-

300

600

900

1,200

1,500

Q4 FY 2014-15 Q4 FY 2015-16

Domestic Exports Total

MSSL Standalone : Q4 FY 2015-16 vs. Q4 FY 2014-15 (R

s. in

Cro

res)

(Rs.

in C

rore

s)

(Rs.

in C

rore

s)

Sales EBITDA* / % to Sales

6

PBT * & PAT

205

283

146 235

38% 61%

-

50

100

150

200

250

300

350

Q4 FY 2014-15 Q4 FY 2015-16 PBT PAT

260 301

20.8% 21.2%

16%

50

150

250

350

Q4 FY 2014-15 Q4 FY 2015-16

EBITDA % of Sales

{* Before exchange loss}

Sales within India

13%

Sales outside India

15%

(Rs. Crores) Q4 2014-15

Q4 2015-16

Exchange Loss / ( Gain ) on Long Term Facilities (5) 2

* Note


€ 76 € 87

7.5% 8.3%

14%

€ -

€ 10

€ 20

€ 30

€ 40

€ 50

€ 60

€ 70

€ 80

€ 90

€ 100

Q4 FY 2014-15 Q4 FY 2015-16

EBITDA % of Sales

€ 45

€ 54

€ 17 € 21

20% 24%

€ -

€ 10

€ 20

€ 30

€ 40

€ 50

€ 60

€ 70

Q4 FY 2014-15 Q4 FY 2015-16 PBT PAT- Concern Share

SMRPBV : Q4 FY 2015-16 vs. Q4 FY 2014-15 (In Euro Terms**)

(In M

illio

n Eu

ro)

(In M

illio

n Eu

ro)

(In M

illio

n Eu

ro)


€1,015 €1,053

4%

€ 0

€ 200

€ 400

€ 600

€ 800

€ 1,000

€ 1,200

Q4 FY 2014-15 Q4 FY 2015-16

PBT * & PAT#

7

** Please refer to Note on last slide.

{* Before exchange loss} {# concern share}

(In Million Euro) Q4 2014-15

Q4 2015-16

Exchange Loss / ( Gain ) on Long Term Facilities 0.03 (0.11)

Impairment of Brazil - 11.35

* Note


SMR : Q4 FY 2015-16 vs. Q4 FY 2014-15 (In Euro Terms**)


€ 39 € 49

26%

10.6%

12.5%

€ -

€ 10

€ 20

€ 30

€ 40

€ 50

€ 60

Q4 FY 2014-15 Q4 FY 2015-16

EBITDA % of Sales

€12 €19

€354 €372

€366 €391

7%

€ -

€ 50

€ 100

€ 150

€ 200

€ 250

€ 300

€ 350

€ 400

Q4 FY 2014-15 Q4 FY 2015-16

Within India Outside India Total

(in M

illio

n Eu

ro)

(in M

illio

n Eu

ro)


8

Highest ever EBITDA since

acquisition


Q4 2015-16

Exchange Loss / ( Gain ) on Long Term Facilities - (0.55)


€650 €662

2%

€ -

€ 100

€ 200

€ 300

€ 400

€ 500

€ 600

€ 700

€ 800

Q4 FY 2014-15 Q4 FY 2015-16

SMP : Q4 FY 2015-16 vs. Q4 FY 2014-15 (In Euro Terms**)

Sales EBITDA / % to Sales

9

(in M

illio

n Eu

ro)

(in M

illio

n Eu

ro)


€ 38 € 38

€ 2 € 10 € 40

€ 48 6.1%

7.3%

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

8.0%

9.0%

€ 15

€ 20

€ 25

€ 30

€ 35

€ 40

€ 45

€ 50

€ 55

Q4 FY 2014-15 Q4 FY 2015-16 Reported EBITDA** Startup Cost Adjusted EBITDA % to sales

{** Before Start up cost for greenfield/ brownfield plants, charged to P&:L}

20%


Q4 2015-16

Exchange Loss / ( Gain ) on Long Term Facilities 0.03 0.45




• Debt status


Highlights FY 15-16 vs FY 14-15

11


Standalone Consolidated

Total Sales

10%

PBT

23%


11%

EBITDA

19%

PAT

48%

Sales (within

India)

9%

Total Sales

6%

PBT

30%


7%

EBITDA

10%

PAT

38%

Sales (within

India)

6%


Highlights FY 15-16 vs FY 14-15

12

EBITDA

23%

Sales

14%

EBITDA

37%

Sales

18%

EBITDA

23%

Total Sales

17%

PAT

44%

PBT

31%



MSSL Consolidated : 12M FY 2015-16 vs. 12M FY 2014-15 (R

s. in

Cro

res)

(Rs.

in C

rore

s)

(Rs.

in C

rore

s)


13

PBT * & PAT#

5,259 5,711

29,231 32,322

34,490 38,033

10%

-

5,000

10,000

15,000

20,000

25,000

30,000

35,000

40,000

FY 2014-15 FY 2015-16 Within India Outside India Total

3,195

3,803 9.3%

10.0%

19%

400

900

1,400

1,900

2,400

2,900

3,400

3,900

FY 2014-15 FY 2015-16

EBITDA % of Sales

1,974

2,435

862

1,274

23%

48%

-

250

500

750

1,000

1,250

1,500

1,750

2,000

2,250

2,500

2,750

FY 2014-15 FY 2015-16

PBT PAT

(Rs. Crores) 12M 2014-15

12M 2015-16

Exchange Loss / ( Gain ) on Long Term Facilities 32 67

Exceptional expenses- on Bond Issue and acquisition expenses

165 29

* Note

{# concern share after exchange loss}

Sales within India

9%

Sales outside India

11%

{* Before exchange loss}


MSSL Standalone : 12M FY 2015-16 vs. 12M FY 2014-15 (R

s. in

Cro

res)

(Rs.

in C

rore

s)

(Rs.

in C

rore

s)


14

PBT * & PAT

4,171 4,434

749 800 4,920 5,234

6%

- 500

1,000 1,500 2,000 2,500 3,000 3,500 4,000 4,500 5,000 5,500

FY 2014-15 FY 2015-16

Domestic Exports Total

934 1,023

19.0% 19.5%

10%

50 150 250 350 450 550 650 750 850 950

1,050 1,150

FY 2014-15 FY 2015-16 EBITDA % of Sales

745

971

515

712

30% 38%

50

150

250

350

450

550

650

750

850

950

1,050

FY 2014-15 FY 2015-16 PBT PAT

First time Standalone

revenues crossed RS 5,000 crores

(Rs. Crores) 12M 2014-15

12M 2015-16

Exchange Loss / ( Gain ) on Long Term Facilities 21 26

* Note

Sales within India

6%

Sales outside India

7%


€ 256 € 315

23%

7.3% 7.7%

€ -

€ 50

€ 100

€ 150

€ 200

€ 250

€ 300

€ 350

€ 400

FY 2014-15 FY 2015-16

EBITDA Growth

€ 143

€ 188

€ 39 € 56

31% 44%

€ -

€ 50

€ 100

€ 150

€ 200

FY 2014-15 FY 2015-16 PBT PAT- Concern Share

SMRPBV : 12M FY 2015-16 vs. 12M FY 2014-15 (In Euro Terms**)

(In M

illio

n Eu

ro)

(In M

illio

n Eu

ro)

(In M

illio

n Eu

ro)


17%

€ 3,498

€ 4,086

€ - € 400 € 800

€ 1,200 € 1,600 € 2,000 € 2,400 € 2,800 € 3,200 € 3,600 € 4,000 € 4,400

FY 2014-15 FY 2015-16

PBT * & PAT#

15


New Orders worth Euro 8.8 Billion during FY16 ̂

(In Million Euro) 12M 2014-15

12M 2015-16

Exceptional expenses towards bonds issuance 16.10 4.02

Exchange Loss /(Gain) on Long Term Facilities 1.38 5.67

Net Gain / (Loss) recognised on final settlement of Insurance Claim

(5.11) -

Impairment of Brazil - 18.57

{# concern share after exchange loss}

* Note

{* Before exchange loss} ^ including the Euro 2.2 billion approx. order from Daimler


SMR : 12M FY 2015-16 vs. 12M FY 2014-15 (In Euro Terms**)


€ 125

€ 154 23%

9.8% 10.5%

€ -

€ 20

€ 40

€ 60

€ 80

€ 100

€ 120

€ 140

€ 160

€ 180

FY 2014-15 FY 2015-16

EBITDA % of Sales *At exchange rate used for translation

(in M

illio

n Eu

ro)

(in M

illio

n Eu

ro)


€ 46 € 64

€ 1,230 € 1,396

€ 1,276 € 1,460

14%

€ -

€ 200

€ 400

€ 600

€ 800

€ 1,000

€ 1,200

€ 1,400

€ 1,600

FY 2014-15 FY 2015-16 Within India Outside India Total

16

Best Performance ROCE of 42%


€2,222

€2,627

18%

€ -

€ 500

€ 1,000

€ 1,500

€ 2,000

€ 2,500

FY 2014-15 FY 2015-16

SMP : 12M FY 2015-16 vs. 12M FY 2014-15 (In Euro Terms**)

Sales EBITDA / % to Sales

17

(in M

illio

n Eu

ro)


(in M

illio

n Eu

ro)

€ 132 € 163

€ 4

€ 23 € 136

€ 186 6.1%

7.1%

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

€ 20

€ 40

€ 60

€ 80

€ 100

€ 120

€ 140

€ 160

€ 180

€ 200

FY 2014-15 FY 2015-16 Reported EBITDA** Startup Cost Adjusted EBITDA % to sales

{** Before Start up cost for greenfield/ brownfield plants, charged to P&:L}

(In Million Euro) 12M 2014-15

12M 2015-16

Exchange Loss / (Gain) on Long Term Facilities 1.15 4.18

Net Loss / (Gain) recognised on final settlement of Insurance Claim (5.11) -

* Note

37%




• Debt status


Net Debt

19

3,241 3,794

4,566 4,745 4,406

31.03.2015 30.06.2015 30.09.2015 31.12.2015 31.03.2016

Net Debt

Net debt is equivalent to 1.16 X EBITDA

Exchange rate used

Rs/Euro

Rs/USD

31.03.2015

67.06

62.50

30.06.2015

70.86

63.64

30.09.2015

73.30

65.58

31.12.2015

71.84

66.15

31.03.2016

75.38

66.25

(Rs. in crores)


Reference Rates

Copper Rates

Q4 FY15-16

Average Q4 2014-15

Q4 2015-16

% Change

LME Copper (USD / Ton ) 5,815 4,668 -19.7%

Average 12M 2014-15

12M 2015-16

% Change

LME Copper (USD / Ton ) 6,554 5,215 -20.4%

FY15-16

Exchange Rates

Average 12M 2014-15

12M 2015-16

% Change

INR to Euro 77.488 72.284 -6.7%

INR to YEN 0.558 0.546 -2.2%

FY15-16

Currency (equal to Rs.)

Q4 2014-15

Q4 2015-16

% Change

INR to Euro 70.123 74.481 6.2%

INR to YEN 0.522 0.586 12.2%

20

Q4 FY15-16


Safe harbour & Note

Thank you

21

Safe harbour

This presentation contains forward-looking statements based on the currently held beliefs and assumptions of the management of the Company, which are expressed in good faith and, in their opinion, reasonable. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, financial condition, performance, or achievements of the Company or industry results, to differ materially from the results, financial condition, performance or achievements expressed or implied by such forward-looking statements. Given these risks, uncertainties and other factors, recipients of this presentation are cautioned not to place undue reliance on these forward-looking statements. The Company disclaims any obligation to update these forward-looking statements to reflect future events or developments.

Note :

**SMRPBV, parent company for SMR & SMP prepares financial statements in Euro currency, hence comparative data is given in Euro terms. These results are consolidated in MSSL by using average year to-date exchange rates.

results press release, result presentation for march 31, 2016 [result]

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