Minda Corporation Ltd (CRD4) - Business...
Transcript of Minda Corporation Ltd (CRD4) - Business...
1 M
inda
Cor
pora
tion
– Q
2 F
Y20
16 E
arni
ngs
Pre
sent
atio
n
Saf
ety,
Sec
urit
y an
d R
estr
aint
Sys
tem
s
Dri
ver
Info
rmat
ion
and
Tel
emat
ics
Sys
tem
s
Inte
rior
Sys
tem
sIn
teri
or S
yste
ms
Dri
ver
I Infnfnfnf
orm
atition
a andndndnd
T T Telelel
emememematatat
icicics s s
Sy
Sy
Sys
tem
s
Q2
FY
2016
Con
soli
dat
ed E
arn
ings
Pre
sen
tati
on
Nov
emb
er 0
4, 2
015
Min
da
Cor
por
atio
n L
imit
ed
(NS
E: M
IND
AC
OR
P; B
SE
: 538
962)
Lea
din
g au
tom
otiv
e co
mp
onen
t an
d f
lags
hip
com
pan
y of
Sp
ark
Min
da,
Ash
ok M
ind
a G
rou
p
2 M
inda
Cor
pora
tion
– Q
2 F
Y20
16 E
arni
ngs
Pre
sent
atio
n
Thi
s pr
esen
tati
on c
onta
ins
stat
emen
ts t
hat
cont
ain
“for
war
d lo
okin
g st
atem
ents
” in
clud
ing,
but
wit
hout
lim
itat
ion,
sta
tem
ents
rel
atin
g to
the
im
plem
enta
tion
of s
trat
egic
ini
tiat
ives
, an
d ot
her
stat
emen
ts r
elat
ing
to M
inda
Cor
pora
tion
Lim
ited
(“M
inda
Cor
p” o
r th
e C
ompa
ny)
futu
re b
usin
ess
deve
lopm
ents
and
econ
omic
per
form
ance
.
Whi
le t
hese
for
war
d lo
okin
g st
atem
ents
ind
icat
e ou
r as
sess
men
t an
d fu
ture
exp
ecta
tion
s co
ncer
ning
the
dev
elop
men
t of
our
bus
ines
s, a
num
ber
of r
isks
,
unce
rtai
ntie
s an
d ot
her
unkn
own
fact
ors
coul
d ca
use
actu
al d
evel
opm
ents
and
res
ults
to d
iffe
r m
ater
iall
y fr
om o
ur e
xpec
tati
ons.
The
se f
acto
rs i
nclu
de,
but
are
not
lim
ited
to,
gen
eral
mar
ket,
mac
ro-e
cono
mic
, go
vern
men
tal
and
regu
lato
ry t
rend
s, m
ovem
ents
in
curr
ency
exc
hang
e an
d
inte
rest
ra
tes,
co
mpe
titi
ve
pres
sure
s,
tech
nolo
gica
l de
velo
pmen
ts,
chan
ges
in
the
fina
ncia
l co
ndit
ions
of
th
ird
part
ies
deal
ing
wit
h us
, le
gisl
ativ
e
deve
lopm
ents
, and
oth
er k
ey f
acto
rs th
at c
ould
aff
ect o
ur b
usin
ess
and
fina
ncia
l per
form
ance
.
Min
da C
orp
unde
rtak
es n
o ob
liga
tion
to p
ubli
cly
revi
se a
ny f
orw
ard
look
ing
stat
emen
ts to
ref
lect
futu
re/ l
ikel
y ev
ents
or
circ
umst
ance
s.
Imp
orta
nt
Not
ice
Con
fere
nce
Dia
l-In
Nu
mb
ers:
Nov
emb
er 0
5, 2
015
(Th
urs
day
) at
03.
30 P
M I
ST
Pri
mar
y N
umbe
r +
91
22 3
938
1028
Sec
onda
ry N
umbe
r +
91
22 6
746
8328
The
num
bers
list
ed a
bove
are
uni
vers
ally
acc
essi
ble
from
all
net
wor
ks a
nd a
ll c
ount
ries
Inte
rnat
iona
l
Tol
l Fre
e N
umbe
r
US
A: 1
866
746
213
3
UK
: 0 8
08 1
01 1
573
Sin
gapo
re: 8
00 1
01 2
045
Hon
g K
ong:
800
964
448
3 M
inda
Cor
pora
tion
– Q
2 F
Y20
16 E
arni
ngs
Pre
sent
atio
n
Fin
anci
al H
igh
ligh
ts
§T
otal
Rev
enue
inc
reas
ed b
y 27
.2%
Y-o
-Y t
o R
s. 6
,162
mill
ion
§E
BIT
DA
inc
reas
ed b
y 30
.4%
Y-o
-Y t
o R
s. 6
38 m
illio
n; M
argi
ns g
rew
26
bps
§P
rofi
t aft
er T
ax i
ncre
ased
by
33.7
% t
o R
s. 2
91 m
illio
n, M
argi
ns e
xpan
ded
by 2
3 bp
s
H1
FY
2016
vs.
H1
FY
2015
(Con
solid
ated
)
Q2
FY
2016
vs.
Q2
FY
2015
(Con
solid
ated
)
§T
otal
Rev
enue
inc
reas
ed b
y 21
.4%
Y-o
-Y t
o R
s. 1
1,44
3 m
illio
n
§E
BIT
DA
inc
reas
ed b
y 22
.5%
Y-o
-Y t
o R
s. 1
,140
mill
ion
§P
rofi
t aft
er T
ax i
ncre
ased
by
26.0
% t
o R
s. 4
93 m
illio
n, M
argi
ns e
xpan
ded
by 1
6 bp
s
§N
et D
ebt
of R
s. 4
,524
mill
ion
(FY
2015
: R
s. 4
,577
mill
ion)
§N
et D
ebt
/ Equ
ity r
atio
of
0.87
x (F
Y20
15:
0.98
x)
§T
otal
Rev
enue
inc
reas
ed b
y 6.
5% Y
-o-Y
to
Rs.
1,8
28 m
illio
n
§P
rofi
t bef
ore
Tax
inc
reas
ed b
y 38
.1%
Y-o
-Y t
o R
s. 2
13 m
illio
n; M
argi
ns i
ncre
ased
by
266
bps
§P
rofi
t aft
er T
ax i
ncre
ased
by
44.8
% t
o R
s. 1
53 m
illio
n, M
argi
ns e
xpan
ded
by 2
22 b
ps
Q2
FY
2016
vs.
Q2
FY
2015
(Sta
nd
alon
e)
4 M
inda
Cor
pora
tion
– Q
2 F
Y20
16 E
arni
ngs
Pre
sent
atio
n
Man
agem
ent
Com
men
tary
Str
ivin
g to
war
ds
bu
sin
ess
and
fin
anci
al e
xcel
len
ce
Mr.
D.C
Sh
arm
a
Gro
up C
FO
“I
am p
leas
ed t
o pr
esen
t ou
r Q
2 F
Y20
16 r
esul
ts w
ith
a se
nse
of p
ride
and
opt
imis
m.
The
sen
se o
f pr
ide
stem
s fr
om t
he r
obus
t im
prov
emen
t ac
ross
all
fin
anci
al m
etri
cs.
Dur
ing
the
quar
ter,
we
achi
eved
a t
opli
ne
grow
th o
f 27
.2%
y-o
-y w
ith
the
back
drop
of
only
a m
argi
nal
sale
s de
-gro
wth
of
(0.4
)% r
egis
tere
d by
the
dom
esti
c au
tom
obil
e in
dust
ry.
Our
con
tinu
ed f
ocus
on
valu
e ad
ded
prod
ucts
cou
pled
wit
h th
e on
goin
g co
st
opti
miz
atio
n in
itia
tive
s re
sult
ed in
an
even
str
onge
r P
AT
grow
th o
f 33.
7%.
My
sens
e of
opt
imis
m c
omes
fro
m t
he r
ecen
t bu
sine
ss d
evel
opm
ents
whi
ch a
re e
xpec
ted
to b
ear
frui
t in
the
futu
re.
Our
ong
oing
foc
us o
n be
ing
ahea
d on
the
tec
hnol
ogy
curv
e he
lped
us
laun
ch n
ew p
rodu
cts
and
proc
ure
new
ord
ers
from
glo
bal
OE
Ms.
We
also
com
plet
ed t
he group’s
reo
rgan
izat
ion
effo
rts
wit
h th
e
succ
essf
ul a
cqui
siti
on o
f M
inda
Sto
neri
dge
Inst
rum
ents
whi
ch h
elps
cre
ate
a st
rong
er o
pera
ting
str
uctu
re
wit
h fo
cuse
d bu
sine
ss v
erti
cals
.
We
are
wit
ness
ing
a gr
adua
l rec
over
y in
the
glo
bal a
utom
obil
e m
arke
ts. H
owev
er, t
he g
row
th v
arie
s ac
ross
geog
raph
ies
and
diff
eren
t se
gmen
ts.
Whi
le
the
dom
esti
c pa
ssen
ger
car
sale
s m
aint
aine
d it
s gr
owth
mom
entu
m,
the
2 W
heel
er s
egm
ent
show
ed s
igns
of
stag
nati
on w
ith
a m
argi
nal
de-g
row
th o
f (1
.3)%
. A
s
Eur
opea
n m
arke
ts s
how
enc
oura
ging
sig
ns,
we
look
for
war
d to
an
incr
ease
d sh
are
of b
usin
ess
from
tha
t
regi
on.
Our
str
ong
fina
ncia
l po
siti
on a
nd r
obus
t bu
sine
ss m
odel
mak
es u
s w
ell
posi
tion
ed t
o ta
ke a
dvan
tage
of
an
expe
cted
upt
ick
in g
loba
l au
tom
obil
e m
arke
ts i
n th
e ne
ar t
erm
. T
his
wil
l en
sure
tha
t w
e co
ntin
ue t
o cr
eate
valu
e fo
r al
l our
sta
keho
lder
s.”
5 M
inda
Cor
pora
tion
– Q
2 F
Y20
16 E
arni
ngs
Pre
sent
atio
n
Cor
por
ate
Soc
ial
Res
pon
sib
ilit
y: S
par
k M
ind
a F
oun
dat
ion
(S
PV
for
Gro
up
CS
R a
ctiv
itie
s)
Oth
er S
ign
ific
ant
Dev
elop
men
ts
Bu
sin
ess
Inte
grat
ed
•P
artn
ered
wit
h Y
erw
ada
Jail
for
on
the
job
trai
ning
of
inm
ates
•A
fter
the
1st in
itia
tive
at T
ihar
Jai
l by
Min
da F
uruk
awa,
this
is th
e 2nd
PP
P m
odel
prog
ram
in I
ndia
n A
utom
obil
e In
dust
ry
•S
take
hold
ers –
Min
da S
AI,
Yer
wad
a Ja
il, M
ahin
dra
& M
ahin
dra
•30
inm
ates
wor
king
pre
sent
ly
Soc
ieta
l Lev
el
•A
akar
shan
: Suc
cess
ful o
peni
ng o
f ne
w c
ente
rs
oP
antn
agar
, Utt
rakh
and:
Com
pute
r tra
inin
g, E
ngli
sh a
nd T
ailo
ring
oP
une,
Mah
aras
htra
: Bea
uty
cult
ure
trai
ning
for
wom
en
oT
amil
Nad
u: C
utti
ng &
Tai
lori
ng a
nd S
poke
n E
ngli
sh
•A
akar
shan
: Con
voca
tion
to e
ncou
rage
lear
ners
oG
reat
er N
oida
: 93
lear
ners
gra
duat
ed; 3
00 le
arne
rs ti
ll d
ate
oP
antn
agar
: 80
lear
ners
gra
duat
ed; 1
87 le
arne
rs ti
ll d
ate
§L
aunc
hed
new
adv
ance
d pr
oduc
t li
ne f
or 2
whe
eler
s an
d 4
whe
eler
s. T
his
new
lin
e in
clud
es h
igh
valu
e pr
oduc
ts s
uch
as O
il D
ipp
ed r
eady
to
inst
all c
lutc
h pl
ates
,
Bra
ke s
hoe
for
2 w
heel
ers
and
auto
mot
ive
filt
ers
§P
rodu
ctio
n st
arte
d fo
r do
or h
andl
es o
f ne
w m
odel
s of
Mar
uti
Suz
uki
§O
rder
win
for
sup
ply
of ‘
Air
Ven
ts’
for
BM
W’s
sel
ecte
d se
ries
for
thei
r E
urop
ean
and
Am
eric
an v
olum
es t
hrou
gh C
ompa
ny’s
Eur
opea
n fa
cili
ties
§O
rder
win
for
man
ufac
turi
ng o
f A
BS
wir
ing
harn
ess
for
com
mer
cial
veh
icle
s O
EM
§M
inda
SA
I (a
100
% s
ubsi
diar
y of
Min
da C
orpo
rati
on)
acqu
ired
51%
equ
ity
of M
inda
Sto
neri
dge
Inst
rum
ents
Ltd
. Wit
h th
is, M
inda
Cor
pora
tion
com
plet
es G
roup
’s
reor
gani
zati
on i
niti
ativ
es
Rec
ent
Cor
por
ate
Dev
elop
men
ts
6 M
inda
Cor
pora
tion
– Q
2 F
Y20
16 E
arni
ngs
Pre
sent
atio
n
Ind
ust
ry O
verv
iew
Pas
sen
ger
& C
omm
erci
al V
eh. –
Eu
rop
ean
Sal
es
Sour
ce:
•D
omes
tic:
SIA
M
•E
urop
e: A
CE
A
4.9%
4.
2%
8.5%
7.
9%
10.1
%
13.2
%
9.4%
13.4
%
10.8
%
8.8%
0.0%
10.0
%
20.0
%
Q3
CY
14
Q4
CY
14
Q1
CY
15
Q2
CY
15
Q3
CY
15
Pas
seng
er C
ars
Com
mer
cial
Veh
icle
s
Pas
sen
ger
Veh
icle
s –
Dom
esti
c S
ales
C
omm
erci
al V
ehic
les –
Dom
esti
c S
ales
2 W
hee
lers
– D
omes
tic
Sal
es
7.3%
2.6%
4.
0%
6.2%
6.
3%
0.0%
5.0%
10.0
%
15.0
%
Q3
CY
14
Q4
CY
14
Q1
CY
15
Q2
CY
15
Q3
CY
15
(3.8
%)
4.6%
5.
5%
3.6%
9.5%
(5.0
%)
0.0%
5.0%
10.0
%
15.0
%
Q3
CY
14
Q4
CY
14
Q1
CY
15
Q2
CY
15
Q3
CY
15
19.0
%
1.4%
(0.2
%)
0.6%
(1
.3%
)
(5.0
%)
(0.0
%)
5.0%
10.0
%
15.0
%
20.0
%
Q3
CY
14
Q4
CY
14
Q1
CY
15
Q2
CY
15
Q3
CY
15
7 M
inda
Cor
pora
tion
– Q
2 F
Y20
16 E
arni
ngs
Pre
sent
atio
n
Con
soli
dat
ed F
inan
cial
Per
form
ance
Hig
hlig
hts
– Q
2 F
Y20
16 v
s. Q
2 F
Y20
15
•T
otal
rev
enue
for
the
qua
rter
inc
reas
ed b
y 27
.2%
y-o
-y t
o R
s. 6
,162
mil
lion
. W
hile
the
Ind
ian
auto
mob
ile
sale
s de
clin
e m
argi
nall
y by
(0.
4)%
, M
inda
Cor
pora
tion
achi
eved
a h
ighe
r gr
owth
on
the
back
of
new
bus
ines
s an
d st
rong
per
form
ance
by
Wir
ing
Har
ness
, Aft
er M
arke
t &
Die
Cas
ting
ope
rati
ons
•Q
2 F
Y20
16 E
BIT
DA
incr
ease
d by
30.
4% o
n a
y-o-
y ba
sis
wit
h m
argi
ns o
f 10
.3%
; M
argi
ns e
xpan
ded
by 2
6 bp
s
•In
tere
st e
xpen
se d
ecre
ased
fro
m R
s. 1
11 m
illi
on i
n Q
2 F
Y20
15 t
o R
s. 9
8 m
illi
on i
n Q
2 F
Y20
16 o
n ac
coun
t of
bet
ter
cash
man
agem
ent,
low
er w
orki
ng c
apit
al
requ
irem
ents
and
rep
aym
ent
of te
rm lo
an
•Q
2 F
Y20
16 P
AT
incr
ease
d by
33.
7%, m
argi
ns e
xpan
ded
by 2
3 bp
s
Q
2 y-
o-y
Q1
q-o-
q H
1 y-
o-y
(Rs.
Mil
lion
) F
Y20
16
FY
2015
G
row
th (
%)
FY
2016
G
row
th (
%)
FY
2016
F
Y20
15
Gro
wth
(%
)
Tot
al R
even
ue
6,16
2 4,
846
27.2
%
5,28
1 16
.7%
11
,443
9,
429
21.4
%
EB
ITD
A
638
489
30.4
%
502
27.0
%
1,14
0 93
0 22
.5%
M
argi
n (%
) 10
.3%
10
.1%
9.5%
10.0
%
9.9%
Pro
fit B
efor
e T
ax (
PB
T)
408
262
55.7
%
279
46.2
%
687
485
41.6
%
M
argi
n (%
) 6.
6%
5.4%
5.3%
6.0%
5.
1%
Pro
fit A
fter
Tax
(P
AT
) 29
1 21
7 33
.7%
20
2 43
.6%
49
3 39
1 26
.0%
M
argi
n (%
) 4.
7%
4.5%
3.8%
4.3%
4.
1%
Bas
ic E
PS
(R
s.)
1.39
1.
04
33.7
%
0.97
43
.6%
2.
36
1.87
26
.0%
Key
Fin
anci
al S
tati
stic
s
8 M
inda
Cor
pora
tion
– Q
2 F
Y20
16 E
arni
ngs
Pre
sent
atio
n
Con
soli
dat
ed F
inan
cial
Per
form
ance
Rev
enu
e (R
s. m
illi
on)
EB
ITD
A (
Rs.
mil
lion
) an
d M
argi
n (
%)
PB
T (
Rs.
mil
lion
) an
d M
argi
n (
%)
PA
T (
Rs.
mil
lion
) an
d M
argi
n (
%)
4,84
6
6,16
2
9,42
9
11,4
43
Q2
FY
15
Q2
FY
16
H1
FY
15
H1
FY
16
489
638
930
1,14
0
10.1
%
10.3
%
9.9%
10
.0%
Q2
FY
15
Q2
FY
16
H1
FY
15
H1
FY
16
217
291
391
493
4.5%
4.
7%
4.1%
4.3%
Q2
FY
15
Q2
FY
16
H1
FY
15
H1
FY
16
262
408
485
687
5.4%
6.6%
5.1%
6.
0%
Q2
FY
15
Q2
FY
16
H1
FY
15
H1
FY
16
9 M
inda
Cor
pora
tion
– Q
2 F
Y20
16 E
arni
ngs
Pre
sent
atio
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Con
soli
dat
ed R
even
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Met
rics
*Q2
FY
2016
Rev
enu
e B
reak
dow
n b
y P
rod
uct
Cat
egor
y R
even
ue
Bre
akd
own
by
Bu
sin
esse
s
Rev
enu
e B
reak
dow
n b
y G
eogr
aph
y
43%
39
%
40%
41
%
40%
34%
37
%
42%
39
%
43%
23%
24
%
18%
20
%
17%
0%
20%
40%
60%
80%
100%
Q2
FY
15
Q3
FY
15
Q4
FY
15
Q1
FY
16
Q2
FY
16
Saf
ety
Sec
urit
y &
Res
trai
nt S
yste
ms
Dri
ver
Info
rmat
ion
& T
elem
atic
s S
yste
ms
Inte
rior
Sys
tem
s
65%
69
%
68%
70
%
70%
35%
31
%
32%
30
%
30%
0%
20%
40%
60%
80%
100%
Q2
FY
15
Q3
FY
15
Q4
FY
15
Q1
FY
16
Q2
FY
16
Sub
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23%
23
%
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7%
7%
7%
6%
4%
0%
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80%
100%
Q2
FY
15
Q3
FY
15
Q4
FY
15
Q1
FY
16
Q2
FY
16
Indi
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outh
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a
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14%
45%
10%
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Whe
eler
s C
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les
Pas
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ehic
les
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t
Rev
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e B
reak
dow
n b
y E
nd
Use
r M
ark
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10
Min
da C
orpo
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on –
Q2
FY
2016
Ear
ning
s P
rese
ntat
ion
Cap
ital
Str
uct
ure
Net
Deb
t / E
BIT
DA
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& N
et D
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/ Net
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th(x
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RO
CE
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)
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ticu
lars
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mil
lion
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15
31 M
ar 1
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Sho
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3,
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orth
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ploy
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inor
ity I
nter
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E (
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urn
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mpl
oyed
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OC
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or H
1 F
Y20
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ased
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BIT
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ths
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atin
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hort
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m
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ds
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ISIL
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ong-
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m
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ds
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e
2.17
x 2.
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0.98
x 0.
87x
FY
2015
H
1 F
Y20
16
Net
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t/E
BIT
DA
N
et D
ebt /
Net
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th
23
.4%
2
5.0
%
FY
20
15
H1
FY
20
16
FY
20
15
H
1 F
Y2
01
6
11
Min
da C
orpo
rati
on –
Q2
FY
2016
Ear
ning
s P
rese
ntat
ion
Min
da
Cor
por
atio
n i
s th
e fl
agsh
ip c
omp
any
of S
par
k M
ind
a, A
shok
Min
da
Gro
up
Bu
sin
ess
Ove
rvie
w –
Com
pan
y B
ack
grou
nd
Div
ersi
fied
Bus
ines
s S
egm
ents
C
ater
ing
to E
nd M
arke
t ac
ross
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o
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stry
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ic G
eogr
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c P
rese
nce
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HC
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LC
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rs
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ufac
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acili
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ntat
ive
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ice
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ch R
epub
lic
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nd
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man
y
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a
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tnam
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nesi
a
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n
Rev
enue
bre
ak-u
p fo
r th
e qu
arte
r en
ding
Sep
201
5
2/3
Whe
eler
s
31%
Com
mer
cial
Veh
icle
s
14%
Pas
seng
er
Veh
icle
s
45%
Aft
er M
arke
t
10%
Saf
ety
Sec
urit
y
& R
estr
aint
Sys
tem
s , 4
0%
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ver
Info
rmat
ion
&
Tel
emat
ics
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tem
s, 4
3%
Inte
rior
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tem
s, 1
7%
Indi
a
80%
Eur
ope
16%
Sou
th E
ast A
sia
4%
12
Min
da C
orpo
rati
on –
Q2
FY
2016
Ear
ning
s P
rese
ntat
ion
Bu
sin
ess
Ove
rvie
w –
Pro
du
ct C
ateg
orie
s
Cat
egor
y P
rod
uct
Por
foli
o C
omp
any
Pro
du
cts
Gro
up
Cor
p
Cor
pora
te O
ffic
e •
Min
da M
anag
emen
t S
ervi
ces
Ltd
.
Saf
ety
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uri
ty
and
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trai
nt
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tem
Ele
ctro
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echa
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r
hand
les,
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ting
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ts, L
atch
es,
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r C
heck
er, K
ey (
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hani
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ctro
nic)
, Key
dup
lica
ting
mac
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urit
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inda
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omot
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ver
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rmat
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emat
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oll c
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lect
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tem
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erio
r tr
ims
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ub-s
yste
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emat
ic M
odul
es, S
truc
tura
l
Mod
ules
, Sof
t Tou
ch te
chno
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et
c.
•M
inda
KT
SN
Pla
stic
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utio
n G
mbH
& C
o. K
G
•M
inda
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n P
last
ic &
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ling
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utio
ns S
p Z
o.o,
Pol
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inda
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stic
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utio
ns s
.r.o
., C
zech
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er M
ark
et
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s m
ade
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roup
co.
and
outs
ourc
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rodu
cts
like
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ilte
rs a
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elay
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•M
inda
Aut
omot
ive
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utio
ns L
td.
•P
T M
inda
Tra
ding
, Ind
ones
ia
CS
R
Gro
up C
SR
init
iati
ves
•S
park
Min
da F
ound
atio
n
Div
ersi
fied
Pro
du
ct P
ortf
olio
13
Min
da C
orpo
rati
on –
Q2
FY
2016
Ear
ning
s P
rese
ntat
ion
Min
da
Cor
por
atio
n
Min
da
SA
I
(100
%)
Min
da
Sto
ner
idge
(5
1%)
Alm
igh
ty
Inte
rnat
ion
al P
TE
, S
inga
por
e (1
00%
)
Min
da
Au
tom
otiv
e
(100
%)
Min
da
Man
agem
ent
Ser
vice
s (1
00%
)
Min
da
VA
ST
A
cces
s S
yste
ms
(50%
)
Min
da
Fu
ruk
awa
Ele
ctri
c (5
1%)
Sp
ark
Min
da
Fou
nd
atio
n (
100%
)
Min
da
KT
SN
P
last
ic G
erm
any
(100
%)
Min
da
KT
SN
, P
olan
d (
100%
)
Min
da
KT
SN
, C
zech
(10
0%)
Ove
rsea
s D
omes
tic
Org
anis
atio
n S
tru
ctu
re*
Bu
sin
ess
Ove
rvie
w –
Cor
por
ate
Str
uct
ure
PT
Min
da
Au
tom
otiv
e,
Ind
ones
ia (1
00%
)
Min
da
Vie
tnam
(100
%)
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epre
sent
s M
inda
Cor
pora
tion
’s o
pera
ting
str
uctu
re
14
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da C
orpo
rati
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FY
2016
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ning
s P
rese
ntat
ion
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da
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por
atio
n L
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