Amber Enterprises India Ltd Investor Presentation : May 2018
Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Amber Enterprises India Limited (the “Company”), have been prepared 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 what so ever. 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 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. Leadership through Innovation 2
Performance Snapshot* ₹ Crs 7.5% 12.7% -3.5% 624 61 29 602 56 26 Q1FY18 Q1FY19 Q1FY18 Q1FY19 Q1FY18 Q1FY19 PAT Operating EBIDTA Revenue • Unseasonal rains in April & May has • We delivered a 103 bps increase in resulted in Inventory build up across brands which has led to dip in revenue • PAT was up by 12.7% on Y-o-Y basis EBIDTA margins on Y-o-Y basis • However on the full year outlook we • Growth in Components business will with 68 bps increase in margins taking have a robust order book further expand the margins for the total PAT to Rs. 29 Crores • Our AC Components & Non AC quarters to come Components grew by 8% & 31% respectively on Y-o-Y basis Leadership through Innovation *Data are on standalone basis 3
Growth across Segments Value Growth Standalone Revenues (in. Crs) Particulars Q1 FY19 Q1 FY18 % Change Air Conditioner’s 466 512 -9.0% AC Components 53 49 8.1% Non AC Components 83 63 31.1% Total 602 624 -3.5% Consolidated Revenues (in. Crs) Particulars FY14 FY15 FY16 FY17 FY18 CAGR (%) Air Conditioner’s 525.62 699.41 699.48 1,251.83 1,524.94 31% AC Components 186.15 211.52 210.13 189.27 293.24 12% Non AC Components 261.61 319.34 179.42 210.76 309.90 4% Total 973.38 1,230.27 1,089.03 1,651.86 2,128.08 22% *FY14, FY15 & FY16 Figures are as per IGAAP Leadership through Innovation 4 FY17 & FY18 Figures are as per IND-AS
Revenue mix across segment* Q1 FY18 Revenue Mix across Segments Q1 FY19 Revenue Mix across Segments 10.2% 13.8% 7.8% 8.8% 77.4% 82.2% Air Conditioner's AC Components Non AC Components Air Conditioner's AC Components Non AC Components Leadership through Innovation *Data on standalone basis 5
Outperforming the Industry^ Amber’s Growth* # (V Amber Growth* # (Value) (Volu olume) ₹ Crs Units in ‘000 570 624 549 602 Q1 FY18 Q1 FY19 Q1 FY18 Q1 FY19 1,910 1,923 +23.07% +26.2% +23.11% +38.7% 1,514 1,562 1,082 978 838 800 684 516 FY14 FY15 FY16 FY17 FY18 FY14 FY15 FY16 FY17 FY18 *Quarterly data on Standalone basis ^FY14, FY15 & FY16 Figures are as per IGAAP Leadership through Innovation 6 # Full year data on Standalone basis ^FY17 & FY18 Figures are as per IND-AS
Profit & Loss Statement* Standalone Particulars (Rs in. Crs) Q1 FY19 Q1 FY18 % Change Revenue from Operations 602.09 651.00 Less: Excise duty 0.00 26.90 Total Revenue 602.09 624.10 -3.53% Raw Material 502.11 531.11 Employee Expenses 11.47 9.41 Other Expenses 27.88 27.19 Total Expenses 541.46 567.71 Operating EBITDA 60.63 56.39 7.52% EBIDTA % 10.07% 9.04% 103 bps Depreciation & Amortisation 12.00 10.40 Other Income -4.60 # 2.09 EBIT 44.03 48.08 -8.42% Finance Cost 2.88 12.60 PBT 41.15 35.48 15.98% Tax 12.28 9.86 PAT 28.87 25.62 12.69% PAT % 4.79% 4.11% 68 bps EPS 9.18 9.89 # Other income includes loss of Rs. 5.66 Crs on account of forex, of which Rs. 4.21 Crs is *Data on Standalone basis Leadership through Innovation 7 realized loss and Rs. 1.45 Crs is unrealized loss
Strategic Priorities
Strategic Priorities 2018-2020 Geography Expansion Product Expansion Customer Expansion ▪ Special focus on new models of IOT based Inverter RAC ▪ ▪ Add RAC components such as Increase wallet share per Customer ▪ brushless DC Motor, Resin-core Increase customer acceptance of ▪ motors & inverter controllers to Pre-empt market dynamics & our products in international achieve greater backward improve customer offerings markets integration ▪ ▪ ▪ New critical components added in Design higher energy efficient Initiate exports to Middle East, the basket by takeover of PCB models South East Asia & Europe largest manufacturing companies in India Economies of scale operating Focus on integration & in-house Profitable Growth leverage to play out processing Leadership through Innovation 9
The Leadership Company
Leading Integrated Solution Provider for RAC… Incorporated in 1990, Amber has emerged as a market leader in Indian Room AC OEM/ODM industry Comprehensive product portfolio - Room AC, Reliable Critical Components with long approval cycle One of the Largest Manufacturer & Supplier of critical components of RAC & other consumer durables like heat exchangers, PCB’s, motors, sheet metal, case liner etc 55.4% market share in RAC OEM/ODM; 19.1% market share in overall RAC market in India (FY17)* High degree of backward integration and strong R&D capabilities , resulting in high proportion of ODM Marquee customer base - 8 out of top 10 RAC brands; serving majority of customers for over 5 years 11 manufacturing facilities strategically located close to customers, enabling faster turnaround *Source: Frost & Sullivan Reports Leadership through Innovation 11
…with 3 decades of History Acquisition of Acquisition of PICL Incorporated in Jalandhar, IL JIN Started Noida Ecotech Unit Punjab Dehradun Unit 5 Dehradun Unit 6 Jhajjhar Unit Exit to Green India IPO Started Dehradun Unit 4 established established establsihed Venture Fund 2012 2012 2013 2017 2018 2008 2009 2010 2010 2011 2012 1990 1994 2004 2006 2008 Commenced Investment by Green Investment by Reliance First Factory established manufacturing of Heat India Venture Fund Alternative IF in Rajpura Exchangers Manufacturing of Kasna, Kala Amb & Investment by Ascent; exit Microwaves ovens Pune Unit establsihed to Reliance through purchase by Ascent Acquisition Investments Leadership through Innovation 12
Our facilities are Strategically located near Customers… PCBs for Air Conditioners & RAC (IDU, ODU &WAC), other Consumer durable Heat Exchangers, System products like washing tubing, Plastic molding & machine, microwave etc. Sheet metal parts Dehradun 3 units Greater Noida, IL JIN RAC (IDU & ODU), R & D Lab, Tool Heat exchangers, room & sheet metal Plastic molding and parts Rajpura Jhajjar Washing Machine tub assembly Greater Noida, Faridabad, Sheet metal parts Kasna PICL Electrical motors for AC, refrigerator, for RAC and microwave, water commercial AC tank Pune Greater Noida, Ecotech AC ODU, Sheet Inner case & plastic metal parts extruded sheet Map not to scale. All data, information and maps are provided “as is” without warranty or any representation of Leadership through Innovation accuracy, timeliness or completeness. 13
…having facilities across 7 locations Dehradun Unit 4 Dehradun Unit 5 Dehradun Unit 6 IL JIN Unit Jhajjar Unit Ecotech Unit Kasna Unit Rajpura Unit Pune Unit PICL Unit Leadership through Innovation 14
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