1. Corporate Presentation | MINDA Industries Limited
a BRIGHT FUTURE ahead
August 2010

2. Contents
03 About the Group
13 Growth over the last five years
15 Industry Outlook
24 Business Review
30 Key Strengths
32 After Sales Network
35 Shareholding Pattern - Group
37 Resurgence
40 Financials

3. ABOUT THE
GROUP

4. ABOUT THE GROUP
Group Structure
Minda Investments Ltd + NKM + Family
Minda Minda Minda PT Minda Jindal Soft Minda
Minda Tokairika
Industries Mindarika Emer Acoustic Asean Italia Vietnam
Autogas Minda India
Ltd(BSE/N Pvt Ltd Technologi Ltd Automotive Seating Company
Ltd Pvt Ltd
SE Listed) es Ltd Ltd Pvt. Ltd Ltd
2W Switches 4W Switches Pressure Pressure Horns Lock Sets Seat Switches Seat Belts
Regulator Regulator Assembly
Handle Bar PWS Panel Locks
Assembly Gas Air Gas Air Switches
OPS
Mixture Mixture
Levers & Brake
HVAC
Holders Gas ECU Gas ECU Switches
Mirrors
Electronics- Fuel Control Fuel Control Handle Bar
ECU Valve Valve Switches
Lightings
Battery
Blow
Moulding
04

5. ABOUT THE GROUP
A brief introduction
A diversified, customer oriented, multi-product and multi-location organisation
Products include lighting, batteries, horn – 2/3/4 wheelers, switches – 4 wheelers and
CNG/ LPG Kits
Formed in 1958 by the founder Chairman late Mr S L Minda
The group has grown multifold under the dynamic leadership of Mr N K Minda who took
over as the Managing Director since 1995
Annual turnover of Rs. 1313 cr. ($ 297Mn.) in 2009-10
21 manufacturing facilities in India
16 Marketing and design offices across 9 cities in India
Greenfield manufacturing facilities at Indonesia and Vietnam
JV’s with global technology leaders
Innovative design solutions
05

6. ABOUT THE GROUP
Rs.1313 cr. ($ 297 Mn.) Annual turnover in 2009-10
34 Patents awarded
54 Design registrations
3% R&D spend as a proportion of annual turnover
15 Product lines
5850 Employee strength
52 Senior Management strength
33 Average age of employee
06

7. ABOUT THE GROUP
Shared Values & Vision
MINDA Values MINDA Vision
Customer is Supreme Group to be Global
Benchmark in QPCDSM by
Focus on Quality 2012-13 and pioneer in
Respect for an Individual Technology by 2014 - 15
Respect for Work Place ethics
Encourage creativity &
innovation to drive people,
processes and products
“Not the words but how honestly values are followed and
respected makes a key differentiator”
07

8. ABOUT THE GROUP
Design capabilities
Fully integrated design cell
Automotive styling capability
‘Class A’ surface modeling
Hand and digital sketching
Clay modeling
Mock-up generation
Rapid prototyping
Simulations – Thermal/ Optical / Others
Involvement with customer right from initial stage
Mechanism Dynamic Option for Simulation (MDO)
08

9. ABOUT THE GROUP
JV’s and collaborations
Partner Head office Product range
Tokai Rika Japan • Automotive switches
• Outer rear view mirrors
TYC Taiwan • Automotive lighting
Soft Italy • Seating
Kyoraku Japan • Engine rooms, interior and exterior parts
• Energy absorbing parts
Fiamm Italy • Starter batteries
• Stand-by batteries
Emer Italy • Alternate fuel kits – CNG/LPG
• Alternative fuel components
09

10. ABOUT THE GROUP
Manufacturing Nalagarh
locations in Sonepat
Haridwar
India Manesar
Pantnagar
The group also has Aurangabad
manufacturing locations in Mumabi
Indonesia and Vietnam Pune
Bangalore
Hosur
Mysore
Manufacturing
10

11. ABOUT THE GROUP
Milestones
1958 1960 1980
Group foundation; Ammeter Switch manufacturing Automotive lighting
manufacturing manufacturing
2001 1995 1993
Switch Unit in Pune JV with Tokairika – ‘First Horn manufacturing
established full fledged base financial JV in Minda Group’
in Western India.
Manufacturing Turning Point
11

12. ABOUT THE GROUP
Milestones (contd.)
2003 2004 2007
Collaboration with TYC Manufacturing plant in Collaboration with Kyoraku,
Brother Industrial Company Indonesia – First Japan; Tie-up with FIAMM;
for lighting technology International Battery manufacturing
manufacturing Plant
2010 2009 2008
Head Light manufacturing Seat belt manufacturing (JV Blow moulding manufacturing
for 4Wheeler for VW with Tokoirika); JV with
EMER spa, Italy for Fuel
Kits; Manufacturing plant in
Vietnam
Manufacturing Turning Point
12

13. GROWTH OVER THE
LAST 5 YEARS

14. Growth of the Company over the
last five years
Turnover (Rs. in million) PAT (Rs. in million) Capital Employed (Rs. in million)
2,838
6,248 229 2,404.2
2,010.8
4,946
4,441 4,591
157 1,668
152
130 135
3,066 1,114
2005-06 2006-07 2007-08 2008-09 2009-10 2005-06 2006-07 2007-08 2008-09 2009-10 2005-06 2006-07 2007-08 2008-09 2009-10
14

15. INDUSTRY OUTLOOK

16. INDUSTRY OUTLOOK
Auto Industry
India is the world’s second largest
manufacturer of two wheelers and seventh Increasing production over
largest car manufacturer and has emerged the years
as one of the favorite investment
destinations for automotive manufacturers Type of vehicle CAGR (2002-09)
The industry recorded the highest ever Passenger vehicle 18.4%
sales of 12.3 million units in 2009-10,
making it the second fastest growing market Commercial vehicle 15.9%
after China Tractors 11.1%
The industry is expected to be worth 2 Wheeler 11%
US$145 billion by 2015-16 form the current
value of US$ 35 billion
It is expected to contribute towards 10% of
India’s GDP and 30-35% of the Industry
GDP by 2016
16

17. INDUSTRY OUTLOOK
OEM presence across India
17

18. INDUSTRY OUTLOOK
Investments by the OEMs In India (%)
OEM Total investments OEM’s market share in India
0.9% 3.3%
1.8%
Hyundai US$ 1 billion 3.1%
3.6%
Nissan-Renault US$ 1 billion
VW US$ 750 million 10.5%
General motors US$ 650 million 46.3%
Ford US$ 500 million
Maruti Suzuki US$ 380 million
Toyota US$ 310 million 30.5%
Honda US$ 250 million
Tata Motors US$ 240 million Maruti Suzuki Hyundai Tata Motors
General motors Honda Ford
Skoda Others
18

19. INDUSTRY OUTLOOK
Auto Component Industry Classification
Auto Segment Component Demand
Two and three-
34 %
Based on technology and quality wheelers
Passenger cars 33 %
Tier 1 consist of MNCs - supply complete systems
Commercial
24 %
Tier 2 - large and medium sized industrial units vehicles
Tractors 9%
Tier 3 - small and unorganized units
Product Range
Unorganized - counterfeit parts
Source: ACMA
19
Based on end user classification 31
OEMs- 67% of sales
12
Exports - 14% (with over 60% of exports to Europe and USA)
7
12
After market-sales 19% of sales 9 10
Engine Parts Drive Transmission & Steering Parts
Suspension & Braking System Body & Chasis
Equipments Electrical Parts Others

20. INDUSTRY OUTLOOK
Auto Component Industry Classification
Foreign Foreign Indian Indian Captive
OEMs suppliers OEMs suppliers Suppliers • Delphi
• Minda
General Bosch Tata Bharat Forge Kunal Engineering
• Sono Koyo Steering
Motors Motors (HH) • Denso
• Shriram Pistons
BMW Valeo Maruti Sundaram Napino (HH)
Suzuki Fastners
Mercedes Eaton M&M Shriram Delhi-Gurgaon-Manesar
Benz Piston
Volvo Arvin Bajaj Auto Rico Auto
Meritor Jamshedpur
Volkswagen Motherson TVS Sona Koyo Kolkata
Sumi Motors Steering Halol
• Amtek India
Fiat Continental Hero Rane Group • International Auto
Honda • Bharat Forge Pune-Nasik Forgings
• SKF bearings Aurangabad • JMT
Cummins Delphi Ashok Lucas TVS Endurance(BAL) • Tata Johnson
Leyland • Endurance
Ford Visteon HM TACO Varrock (BAL)
Toyota Denso Atul Auto Amtek Auto Chennai Bangalore Hosur
Nissan TRW Munjal Showa • Sundaram Fasteners
• Visteon
Exide • Rane TRW
• Lucas TVS
Minda • Bosch
Industries
Jai Ushin
20

21. INDUSTRY OUTLOOK
Auto Component Industry
Minda has significant scope for growth in the OEM market given its expertise in
replacement market
7%
6%
Minda’s revenues share
87% Replacement Market
Original Equipment
Export market
21

22. INDUSTRY OUTLOOK
Auto Component Industry
Parts manufactured in the Indian auto component industry
7% 9%
Electrical Parts
10%
Engine Parts
31% Drive transmission & Steering Parts
12%
Body & Chasis
Suspension & Braking Parts
12%
Equipments
19%
Others
22

23. INDUSTRY OUTLOOK
Growth Drivers
Growing middle class
Changing life style
Demographics
Rising per capita income
Increase in rural demand
Improvement in road infrastructure
Low penetration rate of cars (8/1000)
Low cost of skilled manpower and design capability
Increasing Government support in terms of infrastructure improvement and allowing
foreign investments in the sector
The entry of new generation vehicles and the resultant demand for genuine spare parts
23

24. Business review

25. BUSINESS REVIEW
Products and their
competitive positioning
Switch Market leader in India with 60% market share.
Lights In top 3 with fully integrated manufacturing facilities, except Bulb & WH.
Battery New entrant, Huge market, strong technology backup.
Blow moulding New entrant, strong technology backup.
Auto gas First OEM supplier in India with In-house assembly & testing facilities.
Horns Supplies to all auto segment including 2/3/4 wheeler both to OEMs & after
market.
25

26. BUSINESS REVIEW
Products Profile Source : Based on data received from Marketing Department
SWITCHES Used in 2 wheelers BATTERIES Used in 2 wheelers and 4 wheelers
Share in the Market – 66% Share in the Market – 7% in 2 wheeler batteries
• Largest manufacturer of 2W/3W 2% in 4 wheeler batteries
switches in India • Largest manufacturer of 2W/3W switches
• Contributes ~ 75% of the total revenues in India
of MIL. • Contributes ~ 75% of the total revenues
• Key customers ~ Bajaj, TVS, Hero of MIL.
Honda • Key customers ~ Bajaj, TVS, Hero Honda
• Revenue Break-up • Revenue Break-up
– OEMs - 90%, exports 5%, after- – OEMs - 90%, exports 5%, after-
market - 1% market - 1%
LIGHTING Used in 4 wheelers BLOW MOULDING Used in 4 wheelers
Share in the Market – 7% Share in the Market – 3%
• Head lights, lights for 2/3/4 wheelers • Set recently with an investment of Rs. 150mn
• Technical assistance agreement with • Technical assistance from Kayoraku, Japan
TYC Brothers, Taiwan • Servicing Toyota Kirloskar for “Innova” Model.
• Contributes ~ 20% of the revenue • Products include Air ducts, Duct defrosters, Duct heater, Deck
• Key customers ~ Tata Motors, M&M, Board, reservoir tanks, Spoliers and Arm Rest
maruti and VW (recent addition)
• Revenue Break-up
– OEMs - 90%, exports 4%,
after-market - 7-8%
26

27. BUSINESS REVIEW
Products Profile Source : Based on data received from Marketing Department
CNG/ LPG KITS Used in 4 wheelers SWITCHES Used in 4 wheelers
Share in the Market – 35% Share in the Market – 46%
• Large player in LPG kit segment
• Relationships with leading component • Largest 4Wswitch manufacturer in India
suppliers Technical collaboration with Tokairika,
• Recent JV with EMER for developing CNG Japan, a Toyota Group Company
kits • Key customers ~ Maruti, Tata Motor,
• Key customers ~ Maruti, Tata Motor, Ford, GM
Toyota • Revenue Break-up
• Revenue Break-up – OEMs - 96%, exports -3%, after-
– Product – 96%, Fitment Charges – 4% market - 1%
HORNS Used in 2 wheelers and 4 wheelers. REPLACEMENT MARKET Switch, Horn,
Share in the Market – 15% in 2 wheeler horns. 15% Lights, Battery
in 4 wheeler horns
• Distribution network of 300 dealers spread across 91 A, B
• Technical Agreement with FIAMM and C category cities
Capacity of over 25 mn horns across 3 • Separate production units in tax exempt zones to reduce
facilities costs
• Key customers ~ Bajaj, TVS,Tata Motors,
FIAMM
• Revenue Break-up
– OEMs - 35%, exports 50%, after-
market - 15%
27

28. BUSINESS REVIEW
Revenues (Rs. in million) Proportion of Total Revenue (%)
12000 120
10000 100
8000 80
6000 60
4000
40
2000
20
0
0
2005-06 2006-07 2007-08 2008-09 2009-10 2010-11
(E) 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11
(E)
Horns Auto Gas Blow Moulding Battery Lights Switch Horns Auto Gas Blow Moulding Battery Lights Switch
28

29. BUSINESS REVIEW
Investments in Capacity Creation over
the last 5 years Rs. In lacs
2005-06 2006-07 2007-09 2008-09 2009-10
Switch 1690 2431 977 1079 1695
Lights 1744 2062 897 519 6951
Battery N.A. 1847 2626 485 553
Blow moulding N.A. N.A. 683 219 29
Auto gas 6 100 167 229 101
Horns 3019 959 42 740 88
29

30. Key Strengths

31. KEY STRENGTHS
Key Strengths
Presence across 2W, 3W and 4W segments, Tractors & Off Road Vehicles.
Rich product portfolio
Leaders in 2W, 3W and 4W wheeler switches space and amongst top three in lighting and horns
business
Strong customer relationships
Excellent vendor base
Fully integrated manufacturing units
Marketing network all across India and the world
Joint ventures and collaborations with global leaders
Dedicated R&D Team of more than 40 Engineers
Large number of design patents
Rich talent pool
Professional management 31

32. After sales network

33. AFTER SALES NETWORK
Product Basket
2500 spare parts and components procured from 15 countrywide supply points
Distributor Reach
250 dealers spread across 91 cities
40 Missionary Sales Representatives for grass roots level demand generation.
36 Sales officers and Area Manager located in the key markets
18 depots in all major states of the country
33

34. AFTER SALES NETWORK
Revenue growth over
the last 5 years
Revenues (Rs. in million)
266 268
246
231
214
73%
2005-06 2006-07 2007-08 2008-09 2009-10 CAGR
34

35. Shareholding Pattern -
Group

36. GROUP SHAREHOLDING
29%
N K M Group N K M Group
71%
100% 100%
N K M Group Public
Minda Industries Ltd Minda Acoustics Ltd Minda Autogas Ltd
5% 14%
26%
35%
60% 50% 50%
60%
N K M Group Tokairika Sumitomo N K M Group Emer N K M Group Jindal Soft Italia
Minda Industries Ltd Minda Emer Technologies Ltd Jindal Soft Italia Seating Pvt. Ltd.
30%
50% 50% 50% 50%
70%
N K M Group AKM Group N K M Group AKM Group N K M Group Tokai Rika
PT Minda Asean Automotive Ltd Minda Vietnam Company Ltd. Tokai Rika Minda India Pvt. Ltd.
36

37. Resurgence

38. RESURGENCE
Businesses being consolidated under the flagship, Minda Industries Ltd
Strong consolidated balance sheet to drive investments
Renewed management focus – value creation in the flagship company
All stakeholders to benefit – shareholders, customers, suppliers etc
38

39. RESURGENCE
Restructuring
Minda Industries Ltd
Consolidation of Minda Auto Gas w.e.f. FY 10
Consolidation of Minda ACOUSTIC w.e.f. FY 11
After market business being consolidated w.e.f FY 10
Consolidation of 27% stake in four wheeler switch business w.e.f FY 10
39

40. Financials

41. FINANCIALS
Consolidated Financials (Rs. in million)
MIL+MACPL+ MIL+MACPL+
MIL MIL
MAGL MAGL+MAL
2007-08 2008-09 2009-10 2010-11
Net sales 3961 4457 7,122 9,823
EBITDA 484 589 928 1,141
PBT 198 210 495 575
PAT 157 152 355 433
Net worth 651 770 1,730 2467
DEBT 1360 1634 1491 1,720
EBITDA Margin 12.22% 13.21% 13.02% 11.61%
PAT Margin 3.97% 3.40% 4.98% 4.41%
ROCE 15.56% 15.58% 20.15% 15.49%
* consolidation of auto gas & after market w.e.f FY10 and Horns w.e.f FY11
** merger of auto gas and horns subject to statutory approvals”
41

42. Thank You
MINDA Industries Limited
Corporate Office Address
Minda Industries Ltd.
Village Nawada Fatehpur
P.O. Sikanderpur Badda
Manesar, Distt., Gurgaon – 122004
Haryana, India.
Website: www.mindagroup.com
For further details contact at: info@mindagroup.com